Richard Wright s Black Boy - 1440 Words

Black Boy is an autobiography written by Richard Wright from the age of four to his early twenties. Right from the beginning of the novel, Wright faces violence both mentally and physically. Violence is a theme that reoccurs throughout the novel frequently. To further understand why Wright acted violent and why he used violence so many times in the novel, three biographies were used. The biographies used as a lens to explore the meaning and importance of Black Boy were The Negro Artist and the Racial Mountain by Langston Hughes, The Enduring Importance of Richard Wright by Milton Moskowitz, and Richard Wright Biography from Biography. At the beginning of the novel, Wright set a curtain in his grandparent’s house on fire. He had did this act out of curiosity and boredom. After he realizes he was wrong to do this, he runs and hides, out of fear of what the consequences were going to be. When he is found, we are shown the first glimpse of physical violence that is inflicted upon Wright. Wright tells us, â€Å"I was lashed so hard and long that I lost consciousness. I was beaten out of my senses and later I found myself in bed, screaming, determined to run away, tussling with my mother and father who were trying to keep me still† (Wright 7). From this we collect that not only was Wright scarred physically from this act of violence, but he was also scarred emotionally. This scene is a double act of violence; one act was what his parents had done to him, and the other is him lightingShow MoreRelatedRichard Wright s Black Boy1310 Words   |  6 Pagesbetter life. Richard Wright from the book Black Boy, Joh n H. Johnson from the article Celebrating the Life and Legacy of John H. Johnson 1918-2005 and many other people listed in the article Whose Canon? Gwendolyn Brooks: Founder at the center of Margins, have experienced this first hand. But in the end, aspirations lead to accomplishments if you have the power to overcome others doubts. Black Boy, an autobiography written by Richard Wright, shows the effects of an aspiring young boy. Education forRead MoreRichard Wright s Black Boy1649 Words   |  7 Pagesway. Richard Wright, the narrator and author of the autobiographical novel Black Boy, is the opposite of those people. His story begins in the year 1912, where he is a young, innocent boy, knowing nothing about what is going on in the world around him. As he grows older, he begins noticing that people care about color, but he does not understand why. Later on in life, he has some run ins with people who want to take control of his life as well as the lives of other colored people, but Richard doesRead MoreRichard Wright s Black Boy968 Words   |  4 Pagesaimed towards the black race. However, it goes beyond the black race and it is seen among teens, communities, and families of both the black and white race. For each of these different groups, I hope to show the triggers of this behavior, so we can identify th em early and not reach the point of violence. First, I will talk about the violence of the white people towards the black race and the triggers of this behavior. Whites wanted to keep the blacks at a status below them. â€Å" In Richard Wright’s autobiographicalRead MoreRichard Wright s Black Boy Today1067 Words   |  5 PagesRichard Wright was born after the Civil War but before the Civil Right Era. If he were writing an autobiography titled Black Boy today (2016) about a black boy growing up in the United States, he would write about racial profiling against African Americans, the wide education gap between black and white, and the unequal job opportunity for African American. Wright would examine racial profiling if he was to write Black Boy today. Racial profiling is a very serious issue in the society today. ManyRead MoreAnalysis Of Richard Wright s Black Boy 1116 Words   |  5 PagesStates not 70 years ago. Discrimination and prejudice ran rampant throughout all of American society in 1945. Richard Wright as a black author in 1945, a true anomaly for this time, eloquently brought forth this idea in his book Black Boy. Wright wrote â€Å"Had a black boy announced that he aspired to be a writer, he would have been unhesitatingly called crazy by his pals. Or had a black boy spoken of yearning to get a seat on the New York Stock Exchange, his friends--in the boy’s own interest--wouldRead MoreRichard Wright s Black Boy2040 Words   |  9 PagesBlack Boy, a memoir by influential American author, Richard Wright, tells the story of Wright’s early life, focusing on his struggles under the segregationist, racist Jim Crow era of the Southern United States. When this harshly realistic depiction of a black American childhood was published it brought racism into focus for many Americans and provided an eye opening perspective on the legacy of unfairness and brutality suffered by Black Americans. Wright was born into poverty, suffering, and violenceRead MoreRichard Wright s `` Black Boy `` And The Plethora Of Societies Jhumpa Lahiri954 Words   |  4 PagesAs a young, black, boy growing up in the Jim Crow South, Richard Wright is expected to act like any typical black-accept the whites as his superiors, learn how to work for the whites instead of receiving a proper education, and put his faith in God that things will turn out alright. In another world, characters in the Interpreter of Maladies, such as, Boori Ma, Bibi Haldar, and other disrespected people are disregarded and ostracized because of their differences from their families and overall communityRead MoreEssay on Richard Wright1419 Words   |  6 PagesRichard Wright Whenever I thought of the essential bleakness of black life in America, I knew that Negroes had never been allowed to catch the full spirit of Western civilization, that they lived somehow in it but not of it. And when I brooded upon the cultural barrenness of black life, I wondered if clean, positive tenderness, love, honor, loyalty, and the capacity to remember were native with man. I asked myself if these human qualities were not fostered, won, struggled and suffered for,Read More Use of Rhetorical Appeals and Diction in Richard Wright’s Autobiographical Work, Black Boy549 Words   |  3 PagesUse of Rhetorical Appeals and Diction in Richard Wright’s Autobiographical Work, Black Boy In his autobiographical work, Black Boy, Richard Wright wrote about his battles with hunger, abuse, and racism in the south during the early 1900s. Wright was a gifted author with a passion for writing that refused to be squelched, even when he was a young boy. To convey his attitude toward the importance of language as a key to identity and social acceptance, Wright used rhetorical techniques such as rhetoricalRead MoreThe Effects Of Hunger In Black Boy By Richard Wright1717 Words   |  7 Pagesthe novel, Black Boy, Richard Wright recalls the constant hunger pains due to living in poverty. However, Richard experienced alternative forms of hunger that pushed him to overcome adversity. Richard Wright’s success as a writer, even changed the way people looked at African Americans during the twentieth century. Without Richard’s lingering hunger, he might have succumbed to the racist regime of the South rather than controlling his own destiny. The physical hunger that Rich ard Wright experienced

Richard Wright s Black Boy - 1440 Words

Black Boy is an autobiography written by Richard Wright from the age of four to his early twenties. Right from the beginning of the novel, Wright faces violence both mentally and physically. Violence is a theme that reoccurs throughout the novel frequently. To further understand why Wright acted violent and why he used violence so many times in the novel, three biographies were used. The biographies used as a lens to explore the meaning and importance of Black Boy were The Negro Artist and the Racial Mountain by Langston Hughes, The Enduring Importance of Richard Wright by Milton Moskowitz, and Richard Wright Biography from Biography. At the beginning of the novel, Wright set a curtain in his grandparent’s house on fire. He had did this act out of curiosity and boredom. After he realizes he was wrong to do this, he runs and hides, out of fear of what the consequences were going to be. When he is found, we are shown the first glimpse of physical violence that is inflicted upon Wright. Wright tells us, â€Å"I was lashed so hard and long that I lost consciousness. I was beaten out of my senses and later I found myself in bed, screaming, determined to run away, tussling with my mother and father who were trying to keep me still† (Wright 7). From this we collect that not only was Wright scarred physically from this act of violence, but he was also scarred emotionally. This scene is a double act of violence; one act was what his parents had done to him, and the other is him lightingShow MoreRelatedRichard Wright s Black Boy1310 Words   |  6 Pagesbetter life. Richard Wright from the book Black Boy, Joh n H. Johnson from the article Celebrating the Life and Legacy of John H. Johnson 1918-2005 and many other people listed in the article Whose Canon? Gwendolyn Brooks: Founder at the center of Margins, have experienced this first hand. But in the end, aspirations lead to accomplishments if you have the power to overcome others doubts. Black Boy, an autobiography written by Richard Wright, shows the effects of an aspiring young boy. Education forRead MoreRichard Wright s Black Boy1649 Words   |  7 Pagesway. Richard Wright, the narrator and author of the autobiographical novel Black Boy, is the opposite of those people. His story begins in the year 1912, where he is a young, innocent boy, knowing nothing about what is going on in the world around him. As he grows older, he begins noticing that people care about color, but he does not understand why. Later on in life, he has some run ins with people who want to take control of his life as well as the lives of other colored people, but Richard doesRead MoreRichard Wright s Black Boy968 Words   |  4 Pagesaimed towards the black race. However, it goes beyond the black race and it is seen among teens, communities, and families of both the black and white race. For each of these different groups, I hope to show the triggers of this behavior, so we can identify th em early and not reach the point of violence. First, I will talk about the violence of the white people towards the black race and the triggers of this behavior. Whites wanted to keep the blacks at a status below them. â€Å" In Richard Wright’s autobiographicalRead MoreRichard Wright s Black Boy Today1067 Words   |  5 PagesRichard Wright was born after the Civil War but before the Civil Right Era. If he were writing an autobiography titled Black Boy today (2016) about a black boy growing up in the United States, he would write about racial profiling against African Americans, the wide education gap between black and white, and the unequal job opportunity for African American. Wright would examine racial profiling if he was to write Black Boy today. Racial profiling is a very serious issue in the society today. ManyRead MoreAnalysis Of Richard Wright s Black Boy 1116 Words   |  5 PagesStates not 70 years ago. Discrimination and prejudice ran rampant throughout all of American society in 1945. Richard Wright as a black author in 1945, a true anomaly for this time, eloquently brought forth this idea in his book Black Boy. Wright wrote â€Å"Had a black boy announced that he aspired to be a writer, he would have been unhesitatingly called crazy by his pals. Or had a black boy spoken of yearning to get a seat on the New York Stock Exchange, his friends--in the boy’s own interest--wouldRead MoreRichard Wright s Black Boy2040 Words   |  9 PagesBlack Boy, a memoir by influential American author, Richard Wright, tells the story of Wright’s early life, focusing on his struggles under the segregationist, racist Jim Crow era of the Southern United States. When this harshly realistic depiction of a black American childhood was published it brought racism into focus for many Americans and provided an eye opening perspective on the legacy of unfairness and brutality suffered by Black Americans. Wright was born into poverty, suffering, and violenceRead MoreRichard Wright s `` Black Boy `` And The Plethora Of Societies Jhumpa Lahiri954 Words   |  4 PagesAs a young, black, boy growing up in the Jim Crow South, Richard Wright is expected to act like any typical black-accept the whites as his superiors, learn how to work for the whites instead of receiving a proper education, and put his faith in God that things will turn out alright. In another world, characters in the Interpreter of Maladies, such as, Boori Ma, Bibi Haldar, and other disrespected people are disregarded and ostracized because of their differences from their families and overall communityRead MoreEssay on Richard Wright1419 Words   |  6 PagesRichard Wright Whenever I thought of the essential bleakness of black life in America, I knew that Negroes had never been allowed to catch the full spirit of Western civilization, that they lived somehow in it but not of it. And when I brooded upon the cultural barrenness of black life, I wondered if clean, positive tenderness, love, honor, loyalty, and the capacity to remember were native with man. I asked myself if these human qualities were not fostered, won, struggled and suffered for,Read More Use of Rhetorical Appeals and Diction in Richard Wright’s Autobiographical Work, Black Boy549 Words   |  3 PagesUse of Rhetorical Appeals and Diction in Richard Wright’s Autobiographical Work, Black Boy In his autobiographical work, Black Boy, Richard Wright wrote about his battles with hunger, abuse, and racism in the south during the early 1900s. Wright was a gifted author with a passion for writing that refused to be squelched, even when he was a young boy. To convey his attitude toward the importance of language as a key to identity and social acceptance, Wright used rhetorical techniques such as rhetoricalRead MoreThe Effects Of Hunger In Black Boy By Richard Wright1717 Words   |  7 Pagesthe novel, Black Boy, Richard Wright recalls the constant hunger pains due to living in poverty. However, Richard experienced alternative forms of hunger that pushed him to overcome adversity. Richard Wright’s success as a writer, even changed the way people looked at African Americans during the twentieth century. Without Richard’s lingering hunger, he might have succumbed to the racist regime of the South rather than controlling his own destiny. The physical hunger that Rich ard Wright experienced

Richard Wright s Black Boy - 1440 Words

Black Boy is an autobiography written by Richard Wright from the age of four to his early twenties. Right from the beginning of the novel, Wright faces violence both mentally and physically. Violence is a theme that reoccurs throughout the novel frequently. To further understand why Wright acted violent and why he used violence so many times in the novel, three biographies were used. The biographies used as a lens to explore the meaning and importance of Black Boy were The Negro Artist and the Racial Mountain by Langston Hughes, The Enduring Importance of Richard Wright by Milton Moskowitz, and Richard Wright Biography from Biography. At the beginning of the novel, Wright set a curtain in his grandparent’s house on fire. He had did this act out of curiosity and boredom. After he realizes he was wrong to do this, he runs and hides, out of fear of what the consequences were going to be. When he is found, we are shown the first glimpse of physical violence that is inflicted upon Wright. Wright tells us, â€Å"I was lashed so hard and long that I lost consciousness. I was beaten out of my senses and later I found myself in bed, screaming, determined to run away, tussling with my mother and father who were trying to keep me still† (Wright 7). From this we collect that not only was Wright scarred physically from this act of violence, but he was also scarred emotionally. This scene is a double act of violence; one act was what his parents had done to him, and the other is him lightingShow MoreRelatedRichard Wright s Black Boy1310 Words   |  6 Pagesbetter life. Richard Wright from the book Black Boy, Joh n H. Johnson from the article Celebrating the Life and Legacy of John H. Johnson 1918-2005 and many other people listed in the article Whose Canon? Gwendolyn Brooks: Founder at the center of Margins, have experienced this first hand. But in the end, aspirations lead to accomplishments if you have the power to overcome others doubts. Black Boy, an autobiography written by Richard Wright, shows the effects of an aspiring young boy. Education forRead MoreRichard Wright s Black Boy1649 Words   |  7 Pagesway. Richard Wright, the narrator and author of the autobiographical novel Black Boy, is the opposite of those people. His story begins in the year 1912, where he is a young, innocent boy, knowing nothing about what is going on in the world around him. As he grows older, he begins noticing that people care about color, but he does not understand why. Later on in life, he has some run ins with people who want to take control of his life as well as the lives of other colored people, but Richard doesRead MoreRichard Wright s Black Boy968 Words   |  4 Pagesaimed towards the black race. However, it goes beyond the black race and it is seen among teens, communities, and families of both the black and white race. For each of these different groups, I hope to show the triggers of this behavior, so we can identify th em early and not reach the point of violence. First, I will talk about the violence of the white people towards the black race and the triggers of this behavior. Whites wanted to keep the blacks at a status below them. â€Å" In Richard Wright’s autobiographicalRead MoreRichard Wright s Black Boy Today1067 Words   |  5 PagesRichard Wright was born after the Civil War but before the Civil Right Era. If he were writing an autobiography titled Black Boy today (2016) about a black boy growing up in the United States, he would write about racial profiling against African Americans, the wide education gap between black and white, and the unequal job opportunity for African American. Wright would examine racial profiling if he was to write Black Boy today. Racial profiling is a very serious issue in the society today. ManyRead MoreAnalysis Of Richard Wright s Black Boy 1116 Words   |  5 PagesStates not 70 years ago. Discrimination and prejudice ran rampant throughout all of American society in 1945. Richard Wright as a black author in 1945, a true anomaly for this time, eloquently brought forth this idea in his book Black Boy. Wright wrote â€Å"Had a black boy announced that he aspired to be a writer, he would have been unhesitatingly called crazy by his pals. Or had a black boy spoken of yearning to get a seat on the New York Stock Exchange, his friends--in the boy’s own interest--wouldRead MoreRichard Wright s Black Boy2040 Words   |  9 PagesBlack Boy, a memoir by influential American author, Richard Wright, tells the story of Wright’s early life, focusing on his struggles under the segregationist, racist Jim Crow era of the Southern United States. When this harshly realistic depiction of a black American childhood was published it brought racism into focus for many Americans and provided an eye opening perspective on the legacy of unfairness and brutality suffered by Black Americans. Wright was born into poverty, suffering, and violenceRead MoreRichard Wright s `` Black Boy `` And The Plethora Of Societies Jhumpa Lahiri954 Words   |  4 PagesAs a young, black, boy growing up in the Jim Crow South, Richard Wright is expected to act like any typical black-accept the whites as his superiors, learn how to work for the whites instead of receiving a proper education, and put his faith in God that things will turn out alright. In another world, characters in the Interpreter of Maladies, such as, Boori Ma, Bibi Haldar, and other disrespected people are disregarded and ostracized because of their differences from their families and overall communityRead MoreEssay on Richard Wright1419 Words   |  6 PagesRichard Wright Whenever I thought of the essential bleakness of black life in America, I knew that Negroes had never been allowed to catch the full spirit of Western civilization, that they lived somehow in it but not of it. And when I brooded upon the cultural barrenness of black life, I wondered if clean, positive tenderness, love, honor, loyalty, and the capacity to remember were native with man. I asked myself if these human qualities were not fostered, won, struggled and suffered for,Read More Use of Rhetorical Appeals and Diction in Richard Wright’s Autobiographical Work, Black Boy549 Words   |  3 PagesUse of Rhetorical Appeals and Diction in Richard Wright’s Autobiographical Work, Black Boy In his autobiographical work, Black Boy, Richard Wright wrote about his battles with hunger, abuse, and racism in the south during the early 1900s. Wright was a gifted author with a passion for writing that refused to be squelched, even when he was a young boy. To convey his attitude toward the importance of language as a key to identity and social acceptance, Wright used rhetorical techniques such as rhetoricalRead MoreThe Effects Of Hunger In Black Boy By Richard Wright1717 Words   |  7 Pagesthe novel, Black Boy, Richard Wright recalls the constant hunger pains due to living in poverty. However, Richard experienced alternative forms of hunger that pushed him to overcome adversity. Richard Wright’s success as a writer, even changed the way people looked at African Americans during the twentieth century. Without Richard’s lingering hunger, he might have succumbed to the racist regime of the South rather than controlling his own destiny. The physical hunger that Rich ard Wright experienced

The Top Secret Details Into Process Essay Topics for College Students That People Do Not Know About

The Top Secret Details Into Process Essay Topics for College Students That People Do Not Know About Process Essay Topics for College Students Features Your thesis ought to be relevant so the guide can use a structure that's flexible in order to fit in the shoes of the readers. The student may give the particulars of the topics to the firm. If it comes to write engineering essay for those students that are studying in electrical engineering school becomes confused since they are engineers and not the writers. A variety of potential paper's subjects allows students choosing the best ones employing personal wisdom and number of different explanations. Therefore, for your coursework, you're want to have the very best ideas. Every student who would like to carry out a great academic paper can use mentioned subjects and example argumentative essay to do an exemplary work. The Tried and True Method for Process Essay Topics for College Students in Step by Step Detail In an argumen tative essay you're supposed to present arguments about either side and please so take note of important events and court rulings about the topics you're speaking about. Regardless, it's always a better idea to work with a topic that is very close to you and that you are in possession of a genuine interest in, instead of just picking a random topic. Seek advice from your teacher if you have any questions about the subject you have decided on. Whenever your university student chooses to change their path, he'll likely should rewrite his distinct fact. The Number One Question You Must Ask for Process Essay Topics for College Students Morality Essay Topics Morality is a topic that's near and dear to lots of individuals. Moral argumentative essay topics are a few of the simplest to get carried away with. Choosing fantastic essay topics for middle school must be a careful procedure, where a balance must be struck between topics that might be too simplistic, more acceptable for the key school, and choosing argumentative essay topics that could be too intricate or controversial. Sex education is quite sensitive topic. The introduction should offer general information which will be included in the post. Selecting the correct topic for a persuasive speech may be not such an easy issue to do as it might appear. Creating a very good argument essay starts with a list of argumentative essay topics. The success of your essay is in the suitable selection of the topic. An individual reading the title should identify issues which are covered. The Definitive Approach for Process Essay Topics for College Students The essay writing needs to be carried out in a well-planned and structured way. Going through the rubric presented by your professor will offer you a very good idea of how to begin writing the essay and factors to consider like length and topic limitation. Be conscious of the size it must be and get started writing the narrative essay outline. Every student should know that writing isn't an effortless job, and that's why they will need to be especially attentive when writing a descriptive essay. Remember your essay is about solving problems, thus a solution ought to be a highlight of the essay. The reader needs to be impressed by how you defend your ideas. Application essays about challenges reveal how you respond to difficulty to individuals who are rather interested in how you are going to deal with the subsequent four years by yourself. From among the persuasive speech topics listed here, pick the one which you are most well-informed about or make sure you've got the time required to research and prepare an all-inclusive speech that covers every facet of the topic. Since you can see, a number of the topics listed are new and handle the recent issues happening in the World today. Curriculum proposal topics is a means to try. What to Expect From Process Essay Topics for College Students? Since you may see, there are a great deal of ideas for persuasive essay topics for college students all that it requires to create one is a little bit of imagination! Explain your c ommitments, and you're going to be the type of student colleges find immensely attractive. The ways students ought to be taught about their wellness. Another reason is to observe how well students argue on unique views and demonstrate understanding of the studied subject.

Paradox of Household Decision Making

Question: Discuss about theParadox of Household Decision Making. Answer: Introduction: Consumer often reacts and takes impulsive decision in their daily life. Survey suggests that they often take irrational decision while making a choice of their consumption behavior. Households often think that they are risk taker in their decisions (Himmelweit et al. 2013). On other hand, people are expected to act rationally and invest on fixed assets like purchasing a house which can in future generate further utility. Consumers are also expected to invest on equity and take up their liabilities of household mortgages and loans. There are several factors that collectively dominate the complex micro-financial decision of any consumer. Few of them are: the rate of interest as offered by the banks of that nation, their capacity to invest after meeting up the expenditure of their daily chores and the existing rate of inflation on the economy (Diamond and Rothschild 2014). The essay focuses on the impact of such factors on the decisions taken by the dwellers of U.K region. After the nation existed from their alliance from Brexit, it has faced a continuously downfall in their interest rate. A single component in turn dampens the entire economic condition by impacting the immediate savings, future scope of investment. This essay also focuses on the life cycle hypothesis to analyze the uncertainty principles, especially the weak uncertainty and the strong uncertainty that drives a rational consumer into their decision process (Hanushek et al. 2016). Discussion: This essay initially focuses on the basic problem that persists in the economy. Then the essay briefly explains the concept of weak and strong uncertainty that the people exhibits through their behavior. Peoples balance between the risk taken and their choice for a secured future portrays the rationality that they are imbibed with (Belke et a. 2016). U.K has been chosen and the countrys overall behavior has been highlighted keeping in mind their recent exit from the European Union. The basic economic theory has evolved with incomplete information and uncertainty involved in investment. Here the profit maximization theory is dispensed and the theory rejects the predictable individual behavior. The approach incorporates the societal evolution and the economic system with adoptive mechanism. Situation where the fore sight is uncertain the profit maximizing option is invalid. After the Brexit, the whole economy in the European Union has undergone a change. In this change in the economic environment, individuals behavior is motivated by the prevalent uncertainty and incomplete information (Fichtner et al. 2016). Behavioral traits like imitative, trial and error behavior and adaptive behavior are observed among the individuals. The Rational Choice Theory is a framework to understand the formal setting of the social and economic behavior. The basic argument of the theory is based on the aggregate behavior of the society. The aggregate behavior results from the behavior of the individual actors. It mainly focuses on the determinants that influence the behavior of the individual (Jaeger et al. 2013). The individual chooses from the available options. The individual in the household makes his choice depending upon the available information and the possibility of information. The individual decision inclined toward the cost-effective possibility. Let us assume that the consumer have a life span over T years and has W amount of wealth. His annual income is Y. let us assume that he retires at the age R. the initial wealth is W and his lifetime earnings is RY. Thus, he divides his entire wealth that is W+RY over his entire lifetime. Hence, his consumption C = (W+RY)T.= (1/T)W + (R/T)Y= a(W/Y) + b. this equation denotes the average propensity to consume. Wealth does not change proportionately with income from year to year. So the expected result should be that high income results in low propensity to consume (Dow 2014). However, in the long run both wealth and income increases simultaneously which leads to a constant ratio W/Y implying constant average propensity to consume. max u(az + (w-a) r) dF(z). a Now, the change in wealth changes with the individuals preference toward the risk. It is assumed that two individual are having identical wealth in their savings account, but one is having H amount of money extra in his account. Thus, both the individual is ready to take a risky gamble. This behavioral trait is captured in decreasing absolute risk aversion (Frank 2013). And the individual decides to invest his wealth W. He has two choices: i) safe with return r ii) risky asset with random return z. the utility function of the individual is a concave utility function denoted u. He buys an amount of the risky asset. If, he chooses the risky asset and invest the remaining W-a in the safe asset, then the utility function will be given by az+ (W-a) r. the optimizing problem is given, u(a(z-r) + wr) (z-r) dF(z) = 0. Now the first order condition for this problem is given by: Here, the person is risk-neutral, so u(x) = ax for a constant , the marginal return in investment is Wr + a((z)-r) which is either positive or negative. The risk-neutral investor cares only about the expected return on his investment. Hence, he puts his wealth into the asset, which has a higher expected return. If the investor has a positive rate of return that is greater than r, a risk adverse investor will still invest at least some amount the asset with risky return. Thus, in the example of interest rate this argument is applicable (Frank 2013). If the rate of interest increases, a risk adverse individual will tend to invest more in that asset. On the other hand, a risk neutral individual will optimally allocate his asset between the risky asset and the risk free asset to maximize his return on his investment. The essay tries to see the effect of the basic changes in the economy of United Kingdom due to the change in factor of interest rate of the country as guided by their Central Bank (Kierzenkowski et al. 2016). Also people often have the notion of consuming more when they do not get sufficient interest from their spending. They are more reluctant to believe and act as accordingly to the situations that they presently sees. They cannot interpret the amount that they need to save for the future as the future always remains unseen. The government of the United Kingdom has been reducing the countrys rate of interest for a few years in a row. The reason behind this is to increase the level of investment in the country. This will in turn increase the aggregate demand in the country. The interest rate has been reduced by the Bank of England after the country exited from the European Union (Kierzenkowski 2016). The Foreign Domestic Investment in the country has been reduced since the Brexit. T he reduction in interest rate is supposed to increase the consumption and reduce savings presently in the short run. In the long run, the macroeconomic variable changes. This will make taking a decision hard for the households. People choose their retirement packages and savings according to their working age and old age. The trend of low interest rate has been ensured by the authorities to increase the inflation rate. The interest rate in the country for the last ten years can be depicted in a graph as given below: Figure 1: Interest rate in the United Kingdom for the last ten years. Source: As created by the author. The people of the country are supposed to take their decision on consumption based on the assets and liabilities. The households take their decisions according to their income and the rate of interest in the country. The interest rate determines the value of their assets and liabilities. The government has taken the monetary expansionary policy assuming that the households will make a rational decision. As the claim done by Merton, people are not trained for making these kinds of decisions. People of the United Kingdom have the task ahead of disaggregating their life cycle economic decisions and act accordingly (Lee 2016). They have to make micro financial decisions which involve risk. They have to allocate their asset and estimate the optimal level of utility they can derive. The main target remains as increasing the total savings in such a way that the life after retirement goes smoothly. The decision taken by the government of reducing the interest rate will reduce the size of the retirement package for the working people in the country. This presents a situation of uncertainty in the economy. The uncertainty and risks are interrelated hugely. The rational households are assumed to show a positive attitude towards risk taking and show responsible behavior through financial actions. The life cycle hypothesis proposes that an individuals consumption and savings are planned over his entire life cycle. Their intention is to even out the consumption over his entire life cycle in the best possible way. He prefers to accumulate and save when he is earning. In his retirement age he is dis-saving. The life-cycle hypothesis is based on the assumption that individual is trying to maintain a stable living standard (Hanushek et al. 2016).. This does not imply that he saves a lot in one period and spends all his savings in the next period. They tries to maintain an even consumption level throughout their life span. To understand the situation in the economy of the United Kingdom the life cycle hypothesis can be considered which will give the paradoxical behavior of the households a theoretical shape. Risk and uncertainty will also be incorporated in the report to assess the behavior. The people of the United Kingdom have the task ahead of disaggregating their total life span decisions into small parts (Shoemaker 2016). Their total possible income has to be divided in these parts for consumption purposes. Some of the parts will fall in the working age and some will not. These can be incorporated in two categories where an individual is working and when he is not or retired. The savings from his working age added with the interest he gained from saving will be his total expendable income for his retired life. In such a situation the interest rate, mortgage rate and other policies taken by the government creates uncertain situations. If the interest rate falls further the amount of money the perso n was supposed to get after retirement will decrease (Jaeger et al. 2013). Hence the person has to understand the present and future risks involved in an investment. The questions the individual has to ask himself before making an investment are: whether the growth in the stock market will be a steady one? The real estate will show a boom in the future? Is there any chance of the government of the United Kingdom to default on its debt? The decisions should make sense with the economic rationality which will consider the risk, weak and strong uncertainty regarding the decision of investment. To make a well informed decision regarding future, the individuals have to know all these theories and act accordingly. Merton argued that common people in the United Kingdom do not have the required training of doing so. Conclusion: The general people are unaware of the complexities that are involved in an economic system. They make their decisions on the basis of the situations that they see in their daily life. Most of them are unaware of the complexities involved in their decision process. They always try to maximize their consumption and also save for their future. They are expected to take risk in their investment decision by spending their hard earned money on buying fixed assets whereas save for the future so that they can have a secured life in their autumns of life (Himmelweit 2013). Whenever people get more interest rate they start to save more with the expectation of higher amount of interest. On other hand they start more consumption as a result of lowering interest rate. But at the same time saving less will reduce the scope of their future consumption. The government can spread financial awareness amongst the people. Also an extra curriculum can be added at the high school level so that the student s irrespective of the stream of subjects that they undertake can learn the very basics of financial components and take a rational decision in their life ahead. A successful implementation of this curriculum and an overall financial awareness campaign may prove efficient in removing the paradox that exists in the economy. References: Belke, A., Belke, A., Dubova, I. and Osowski, T., 2016. Policy Uncertainty and International Financial Markets: The case of Brexit. CEPS Working Document No. 429, December 2016. Diamond, P. and Rothschild, M. eds., 2014.Uncertainty in economics: readings and exercises. Academic Press Dow, S.C., 2014. Addressing uncertainty in economics and the economy.Cambridge Journal of Economics, p.beu022. Fichtner, F., Groe Steffen, C., Hachula, M. and Schlaak, T., 2016. Brexit decision is likely to reduce growth in the short term.DIW Economic Bulletin,6(26/27), pp.301-307. Frank, K., 2013. Risk, uncertainty and profit. Hanushek, E.A., Schwerdt, G., Woessmann, L. and Zhang, L., 2016. General education, vocational education, and labor-market outcomes over the life-cycle.Journal of Human Resources. Himmelweit, S., Santos, C., Sevilla, A. and Sofer, C., 2013. Sharing of resources within the family and the economics of household decision making.Journal of Marriage and Family,75(3), pp.625-639. Jaeger, C.C., Webler, T., Rosa, E.A. and Renn, O., 2013.Risk, uncertainty and rational action. Routledge. Kierzenkowski, R., Pain, N., Rusticelli, E. and Zwart, S., 2016. The Economic Consequences of Brexit Knight, F.H., 2012.Risk, uncertainty and profit. Courier Corporation. Lea, R., 2016. The economic growth rate in 2016Q3: some slowdown after the second quarter pick-up.Arbuthnot Banking Group,12. Schoenmaker, D., 2016. The UK Financial Sector and EU Integration after Brexit: The Issue of Passporting.

The Ideas of Classical Theorists free essay sample

These can include your own experiences from work, those of family relatives and friends, weblogs, working life diaries, newspaper articles and other media reports. Jean-Luc Adamson 110105367 Word Count- 1879 It is a valid and reasonable claim that the ideas of the classical theorists are outdated. Many argue that ideas of Bureaucracy by Weber and Scientific Management by Taylor do not have any relevance in modern day working practices. However these ideas have evolved as the business world has developed, and it is clear that they form the basis of many new working practices that exist in modern day organisations. By looking at the reality of these modern practices, we can see that many businesses still favour a rational approach. This approach draws elements from the ideas of bureaucracy and scientific management, and shows there relevance in current working practices. The use of a Fordist approach, as well as the â€Å"McDonaldization† of companies further demonstrates the validity of the classical theories, as a basis for new approaches. We will write a custom essay sample on The Ideas of Classical Theorists or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is also important to evaluate the claim that in more recent times there has been a shift to a Post-Fordist and Post-Bureaucratic society. This proposed shift demands that a different approach to management and organisation is required, yet we have to ask the question, will the removal of bureaucratic and scientific elements in business ever be beneficial? When examining organisations the reality is often very different to the rhetoric. The rhetoric takes a more theoretical approach and tries to explain what should happen. However, in order to evaluate the relevance of the classical approaches in modern day practices, we must look at what does happen. The orthodox rhetoric executes a modern approach, where employees are a major asset, and have been empowered. Management is more â€Å"hands off† and a flexible environment suits employees. While certain businesses may adopt this theory, and it is clear that in modern business, even the more rational approaches are influenced by it, the reality is different. Since the introduction of the Fordist model, production has been dominated by this rational idea. It was designed to increase efficiency in productivity by using assembly lines and the division of labour into smaller parts increased control (Pugh D S amp; Hickson D J, 1989), thus dehumanizing the production process. McDonaldization is a metaphor used to describe the integral part of rational processes; similar to those explained by Weber and Taylor, in modern day organisations. McDonaldization is described by John Ritzer as â€Å"the process by which the principles of the fast-food restaurant are coming to dominate more and more sectors of American society as well as the rest of the world. † (‘The Case of McDonalds’ from Wilson F, 2004). It uses the example of the fast food restaurant to explain the reality of how businesses operate; in particular those concerned with mass production. The dimensions of Mcdonaldization encompass the efficiency, calculability and predictability that it produces. Close rules and regulations, dictated by a central command, look to improve efficiency and have very strong connotations with Weber’s theory of bureaucracy. The emphasis on quantative aspects of the product and the interest in quantity over quality again convey the de-humanisation of the workforce, which portrays the parallels with Taylor’s theory of Scientific management. The predictability is inevitable and what firms adopting Mcdonaldization metaphor strive for, which again demonstrates the similarities with the â€Å"production line† aspect of Taylor’s theory. It is clear that the classical theories still influence todays companies, however McDonaldization appears to use elements of the rhetoric ideals, which makes it different from Fordism. Subsequently in Ritzer’s critique of McDonaldization he explains how bored workers, bent the rules for amusement to make the dull routines more bearable. like catching a girl eye, as she walked in† (‘The Case of McDonalds’ from Wilson F, 2004). Burawoy notes how these games are beneficial as they give some control back to the workforce and are thus† tolerated by management, because they enhance the efficiency of work† (BURAWOY. M, 1985). This supports the assumption that the ideas of the classical theorists are evident but have evolved and encompassed ideas fr om more modern works, that insist on the idea of employee empowerment being beneficial to an organisation. Despite the more modern theorists approach, the orthodox rhetoric is essentially an â€Å"ideal† and tends to ignore the true reality of modern organisations. I have experienced firsthand, working in a fast food restaurant where it has also seen the benefits of â€Å"McDonaldizing†. The restaurant served fried food of a reasonable quality. The job required little skill and we had to follow rules on how we served, cleaned and produced the food and drink. The managers were there to make sure we followed these rules, which were in place to provide efficiency and consistency, regarding the food and service. The management however deployed a slight autocratic approach, as the chefs were able to decide what the special for the day would be, as well as the employees deciding when to clean and arrange certain advertisements and displays. My experience is an example that supports the view that the classical theories are still relevant. Yet the more modern influences on this particular organisation; by allowing the employees some control, explain that those classical theories are somewhat outdate, and that they have evolved as business has developed. Instrumental rationality is very important when looking at working practices. â€Å"It helps a person decide how to do things, such as efficiently perform technical tasks, resolve conflicts and solve problems by regarding the factors involved in a situation as variable to be controlled. † (BusinessDictionary. com 2012) Instrumental rationality looks at how to organize and not why. It often disregards morals and ethics, and firms that adopt the use of instrumental rationality in there organisation are often focused on gaining maximum profits. Weber saw bureaucracy as a paradigm for instrumental rationality. He believed that Bureaucracy as the most efficient structure; and the fact it disregarded morals and ethics made bureaucracy an instrumentally rational practice. Many modern working practices still use instrumental rationality in modern day working practices; such as businesses which follow a fordist approach or firms that have â€Å"McDonaldized† practices. Taylor devoted a lot of time to looking at how instrumental rationality could be used in industry. () His conclusion to his research showed that â€Å"the means of improving worker efficiency and roductivity take precedence over the end of respect for human dignity. † This rationality shares connotations with the idea of a Fordist approach, and thus demonstrates how instrumental rationality and Scientific Management go hand in hand. Subsequently we can see through the use of instrumental rationality, the classical theorist’s views are still relevant today. A working diary of a Customer Service worker demonstr ates how instrumental rationality functions in the workplace. It also conveys elements of Bureaucracy and Scientific Management in modern day working practices. The writer of the diary explains various situations, which show the appearance of these ideas in current practices. The woman explains how they receive gold stars for increased sales. This is patronizing and highlights the simple and regulated work that these people are asked to do. The more sales they achieve the more they are recognised. This shows instrumental rationality in the way the management deals with its employees. They are trying to increase sales by offering incentives to the workers; in the form of gold stars. Yet they are doing this at the expense of the employee’s motivation. This links in with the McDonaldization example that explains the â€Å"Irrationality of Rationality†. This concept with reference to the Working Diary shows that the firm is being rational by trying to improve efficiency within the organisation yet they are neglecting substantive rationality by ignoring the needs of its employees. Furthermore the extent to which this worker is monitored, shows how little control the workers have over their jobs, and it is managements job to make sure they are following the rules precisely. â€Å"okay. How about last Sunday? You clocked in 27 seconds late. This demonstrates how apparent instrumental rationality is in this organisation, as it is purely about how to organize their employees and disregarding the human side of management. Thus the reality of working situations show that elements of Bureaucracy and Scientific Management still exists, but subsequently suggests that these theories are somewhat outdated despite being a reality in mode rn working practices. (Workstiff Diaries, customer service. 2004) The shift to a Post-Bureaucratic state in working practices, suggests that Bureaucracy is dead. The alleged shift to a post industrial society implies that the classical theorists are outdated and that there is no relevance to them in modern day working practices. However when looking at the reality of current day organisations, it is important to ask the question; has there been a shift to a Post-Bureaucratic state and if so to what extent? When comparing the Fordist approach, to more recent approaches used in Businesses today, I feel that to some extent there has been a shift. An example looks at Fordism and the metaphor of McDonaldization. McDonaldization is essentially Fordism, but it offers a more human, and autocratic approach. However when looking at example such as the Workers Diary this shows, that in reality the shift towards a post-bureaucratic state; where trust, empowerment and shared responsibility become a reality, has not happened, and the ideas of the classical theorists still have a basis in modern day working practices. It is possible to argue that the views of the classical theorists are outdated. We can see that from these approaches there lacks a human element in the way that organisations that adopt these theories act. Despite continuous evolution of these theories, it is clear that they do not encompass the needs of their employees in modern day working practices. However to answer the question we have to look at whether the ideas of Bureaucracy and Scientific management still have relevance in modern working practices. The answer to this is that the classical theories form the basis of many working practices throughout business. In reality, many firms still adopt the ideas of the classical theorists, in different measures. A very common cliche is that no organisation is the same.