40 Idioms with First

40 Idioms with First 40 Idioms with First 40 Idioms with First By Mark Nichol Numerous articulations incorporate the word first, frequently alluding to beginnings or starting encounters. Here is a rundown of informal expressions highlighting the word, and their implications. 1. Emergency treatment: clinical consideration for minor wounds, for example, gentle scraped areas, cuts, wounds, and consumes 2. First among rises to: the assumption that a pioneer is only the head individual among their associates 3. A respectable starting point: the initial step or stage in a procedure or technique, from baseball wording 4. First blood: alluding to the transitional experience of a tracker making a first murder 5. From the start become flushed: alluding to reevaluation of one’s beginning idea 6. First call: the privilege to need being used of something 7. First reason: the philosophical idea of the first self-made reason for which every single other reason are results 8. First seat: the lead artist among those playing a specific instrument in a symphony, (for example, first violin) 9. Top of the line: the best classification of movement facilities, or the best as far as execution or quality 10. First come, first served: the rule that the client who shows up first is given need 11. First cousin: a child or little girl of one’s auntie or uncle 12. First break: the most punctual possibility or opportunity 13. First move: the custom of the visitors of respect being the principal couple on the move floor to begin a ball or other move occasion 14. First dibs: see â€Å"first call† 15. First down: the first in a progression of plays in American football after one group claims the ball from the other group 16. First version: the underlying distribution of a book 17. First domain: the pastorate as the most elevated of the three sets of society in the Middle Ages and for quite a while a short time later (the others were the respectability and the average citizens) 18. First floor: the ground floor (in American English use) or the subsequent floor (in British English utilization) 19. First flush (of progress): an underlying time of accomplishment (the term is likewise utilized actually to allude to the underlying overflow of water after a tempest) 20. First look: a shallow assessment or survey 21. From the outset hand: with direct understanding (as a descriptive word, firsthand) 22. Early introduction: the underlying assessment of data or an encounter, for the most part before having the opportunity to consider or contemplate 23. First woman: the spouse of a government’s pioneer 24. First leg: the initial segment of an excursion 25. First light: the soonest part of day 26. First night: the night of a debut execution, or the debut execution itself 27. In any case: in the first place, or as an underlying thought 28. (Right of) first refusal: the benefit of having the option to acknowledge or dismiss an offer or proposition before any other individual is given thought 29. (Love) from the outset sight: the feeling of a moment sentimental association 30. (The) initial step (is consistently the hardest): the idea that beginning an undertaking is the most troublesome part 31. (Cast the) main stone: used to allude to double-dealing conduct much the same as tossing a stone at somebody as discipline for a wrongdoing when the hurler might be at fault for a similar wrongdoing or another 32. First string: the gathering of competitors who take an interest from the earliest starting point an athletic rivalry, rather than players who may fill in for first-string colleagues sooner or later; by augmentation, the best among any gathering 33. (Don’t) understand anything about: the model for an articulation expressing that somebody is unacquainted with even the fundamentals of a specific system or subject 34. First of all: alludes to the significance of thinking about the general need of steps 35. Novice: somebody connecting with or taking an interest in some movement the individual has not done previously 36. First water: the highest caliber, particularly in pearls yet additionally said metaphorically of individuals of high character 37. First world: the created, industrialized countries 38. (On the off chance that) from the outset you don’t succeed (attempt once more): the conclusion that one should continue after introductory disappointment 39. Women initial: an assumption that, as per appropriate decorum, females ought to have need in going through an entryway or into another region 40. Shoot first (and pose inquiries later): alluding to the alleged knowledge, in an encounter, of incapacitating a potential enemy first and afterward finding out whether the individual is in reality an adversary Need to improve your English in a short time a day? Get a membership and begin getting our composing tips and activities day by day! Continue learning! Peruse the Expressions class, check our well known posts, or pick a related post below:20 Words with More Than One Spelling20 Words Meaning Being or Existing in the PastQuiet or Quite?

Jealousy and Self-Love in My Last Duchess by Robert Browning Essay

Robert Browning's emotional sonnet My Last Duchess characterizes how amazingly an individual may put some distance between the real world, because of envy and self esteem. Â This focal idea is accomplished through a privileged person's discussion with a guest concerning a work of art of his ex; inside the discussion, the blue-blood - Alfonso II, Duke of Ferrara- - uncovers that he has been a key figure in the homicide of his late spouse. Â The Duke's feeling of the real world and his abuse of intensity remain as significant aspects inside the manufacture of the focal thought. The Duke nearly is by all accounts urging the peruser to concentrate on the way that his feeling of the truth is deficient. Â He starts squeezing this thought to the peruser inside the beginning times of the sonnet, while conversing with the guest about a picture of his killed spouse: I consider that piece a marvel now: Fra Pandolf's hands worked hectically a day, and there she stands(Browning 695-696). Â Upon perusing this so from the get-go in the Duke's discussion, the peruser is reclaimed; how could an individual be increasingly keen on the nature of work in a bit of craftsmanship than his dead...

Off

Off Im approaching the end of the first month of my internship at a big ol biotech company,01 wish I could blog about it but public disclosure lawsuit blah blah blah and Ive somewhat adjusted to the lack of actionable emails. My new thing is going to work and reading about topics in philosophy when I have downtime. I dont know if its the deep dive into terror management theory02 I feel like a South Park goth kid when I discuss this with people or the mechanical routine of a 9-to-503 closer to a 9:45ish-to-5:15ish or latent anxiety about applying to grad school,04 Kim Kardashian voice: Im Dropping Hints That Im Going to Apply To Grad School but Ive been feeling distinctly uneasy for the past few weeks. Not bad, just weird. Ive prepared for you a selection of images from the past month that have a similar vibe of not-quite-a-glitch-in-the-simulation-but-unnerving-enough-that-I-had-to-take-a-picture, or more simply, pictures that feel a little Off. Snow vs. Fence MIT tennis courts, Cambridge, MA, February 18, 2019, 2:47 PM The sheer power, the pure force exerted by the fresh snow, which is usually so soft and shapeable. Fence cannot stop her; Fence can only extrude her. My Cat Binkys Lol WMBR, A-control, Cambridge, MA, March 6, 2019, 1:26 AM WMBR, where anyone can directly text the current DJ. Cats shouldnt binky, but maybe its okay for them to popcorn. When You Turn On Your Ad Blocker IRL Building 46 atrium, Cambridge, MA, March 6, 2019, 1:01 PM This one really freaked me out at first. Usually there are chairs there, but sometimes there are conferences happening in this space. There were no people in the atrium at that moment. Only bipedal black screens, continuing into infinity.05 into finity but continuing for a while in the direction of the vanishing point Spooky. A Car Supported By A Few Inches Of Snow Memorial Drive, Cambridge, MA, March 6, 2019, 9:08 PM I tried several times to get a better picture of this, but I couldnt get low enough to the ground.06 I have failed as a 5 foot tall person Look how strong that snow is (see first image). Utility Graffiti On The Snow Between McCormick and Baker, Cambridge, MA, March 8, 2019, 4:18 PM In case you couldnt tell, theres a lot of snow at MIT sometimes. In this case, some utility workers decided to mark an underground cable or pipe or line of some sort directly onto the snow. What happens when the snow melts? Why does it need to be marked right now if you cant even access whats below because of the snow? What is under the snow? PIG ICE Piggly Wiggly, Mountain Brook, AL, March 24, 2019, 5:28 PM Its pig ice. Gnarly Skin Condition MacGregor desk, Cambridge, MA, April 19, 2019, 9:36 PM While moving boxes of paper around, I discovered I have developed something called Dermatographia urticaria, which is pretty dope because now I can gently scratch things07 Ill admit to some number of phalluses onto my arms and let my immune system make the art. Unfortunately, I am itchy and covered in scary wheals all the time now, unless I take antihistamines, in which case I am sleepy all the time now. I promise this is a real thing. Hypocrisy Vassar Street, Cambridge, MA, April 29, 2019, 2:26 PM Is this corruption? A Rebrand In Progress LaVerdes, Cambridge, MA, May 3, 2019, 2:47 PM If you stare at the shelves in LaVerdes long enough, youll notice that no one actually stocks the shelves, they just refresh from time to time. Here I captured a brand in transition from Big Corporate Capital Letters User to soft gentle lowercase millennial/gen z/gen alpha cracker peddler. I like to think they took inspiration from us. One (1) Inch ???, Cambridge, MA, May 10, 2019, 11:55 AM If you zoom in, this little guy is beautiful.08 when I went home the most recent time, my sister showed me a cute little worm that she thought was a baby inchworm, but my other sister confirmed that it was in fact a mosquito larva and that sure did gross us out But I was walking along a street with no trees or plants when he appeared. Where did he come from? I had to walk several minutes to find a green place for him to disembark. Ants Eating A Porkchop09 somehow this has more of a Dave Matthews Band Vibe than Ants Marching? MIT tennis courts, Cambridge, MA, May 16, 2019, 4:26 PM Who cooked a porkchop and then just left it on the ground? What transgression did the porkchop commit to be abandoned like this? Why did the ants want to eat it? There are plenty of healthy dining options on campus! Tall Roses My backyard, Irondale, AL, May 26, 2019, 7:31 PM I am not a plant biologist. I have no idea why a rose would want/would be able to grow that tall. Its not competing with other plants for sun. I feel like it would take so much more effort10 not actually sure if transpiration is meaningfully affected by gravity to keep water and stuff flowing up to the top of the plant, but thats where all the flowers are. For size reference, this thing is over 6 feet tall. Great posture, too. Pinoy Comic Jokes: UR FAVORITE PINOY JOKES IN GRAPHIC FORMAT Public library, South San Francisco, CA, June 3, 2019, 3:25 PM The South San Francisco Library has an astounding collection of Tagalog literature, but this one looks like something someone brought from home and left on the shelf. The comic on the cover, which should theoretically be one of the funniest comics in the book, features a kid who was poisoned after he got caught eating cockroaches. The graphic design checks out, though. DNA Crosswalk Genentech, South San Francisco, CA, June 7, 2019, 5:18 PM Cute, but why? Cricket Food Pet store, Daly City, CA, June 8, 2019, 5:50 PM Apparently crickets can be fed as pets, not just to pets. And theres nothing crickets crave more than the sweet taste of orange cube.11 its got electrolytes Outta My Way! Im Late For Bocce Somewhere, South San Francisco, CA, June 8, 2019, 7:28 PM Theres no way this is a real license plate frame that a real person bought. Bocce isnt even that fun. Its like being into golf but it doesnt even come with an established aesthetic. VCRs Rotated 90 Degrees Clockwise Thrift store, South San Francisco, CA, June 15, 2019, 2:57 PM There is no reason for this store to stock so many VCRs. They ran out of room for horizontal VCRs so they had to shelve them like books. There werent even that many VHS tapes for sale to go with the VCRs. At this point, I am not sure if the rising seniors in high school are familiar with this technology, but really the only reason to keep these around would be to watch old home movies. Id like to meet anyone who ends up buying one of these. By posting these images, Ive unloaded my Off feeling onto the audience, so now YOU will feel perpetually Off instead of me! Enjoy! Post Tagged #snow #summer internship #weird wish I could blog about it but public disclosure lawsuit blah blah blah back to text ? I feel like a South Park goth kid when I discuss this with people back to text ? closer to a 9:45ish-to-5:15ish back to text ? Kim Kardashian voice: I'm Dropping Hints That I'm Going to Apply To Grad School back to text ? into finity but continuing for a while in the direction of the vanishing point back to text ? I have failed as a 5 foot tall person back to text ? I'll admit to some number of phalluses back to text ? when I went home the most recent time, my sister showed me a cute little worm that she thought was a baby inchworm, but my other sister confirmed that it was in fact a mosquito larva and that sure did gross us out back to text ? somehow this has more of a Dave Matthews Band Vibe than Ants Marching? back to text ? not actually sure if transpiration is meaningfully affected by gravity back to text ? it's got electrolytes back to text ?

nvq 3 Principles of diversity, equality and inclusion in...

Principles of diversity, equality and inclusion in adult social care settings 1.1 Explain what is meant by a) Diversity Diversity means varied or different, so in a social care setting the importance of diversity means to recognise and respect the importance of people’s wishes and to treat them as individuals. b) Equality Equality means ensuring that everybody is entitled to equal rights and opportunities and therefore preventing discrimination. c) Inclusion Inclusion means to ensure that everybody is made to feel respected and has a sense of belonging. They should feel included and be able to actively participate in activities and be valued for who they are. d) Discrimination Discrimination means unfair or unequal treatment to†¦show more content†¦This can also help to raise awareness of individual’s differences as well as influencing practices and interactions with others. 2.4 Describe ways to ensure that own interactions with individuals respect their beliefs, culture, values and preferences It would be important to find out about their beliefs and preferences andShow MoreRelatedNvq 2 Essay1943 Words   |  8 PagesDECISION, IN WRITING, WITHIN 10 WORKING DAYS OF THE MEETING INCLUDING THE RIGHT OF APPEAL. * Bv – Explain the agreed ways of working with your employer in relation to the following areas * Data Protection – All private information inside the care home should not be discussed outside the facility * Grievance – Follow the procedures on the handbook about making an Informal/Formal discussion of a grievance * Conflict Management - * Anti-discriminatory practice – Treat every residentRead MoreManagement and Manager Induction Standards9580 Words   |  39 Pagesin adult social care, including those managing their own support workers 2012 ‘Refreshed’ web edition, with guidance and certificate we help employers to manage their workforces Contents Introduction Core standards 1 2 3 4 5 6 7 8 Governance and accountability Systems and processes to promote communication Partnership working and relationships Using person-centred practice to achieve positive outcomes Team leadership and management Managing resources Equality, diversity and inclusion SafeguardingRead MoreQuality procedures in life long learning Essay4553 Words   |  19 Pagesï » ¿5 Understand how to apply theories and principles of learning in planning, enabling and assessing learning for 14-19-year-olds. 6 Be able to reflect and evaluate feedback to improve own practice in working with 14-19-yearolds with reference to theories and principles of learning. 2 Understand the principles of quality improvement. 3 Understand the quality improvement procedures relevantto own practice 4 Understand how to ensure that own practice meets internal andexternal quality requirements Read MoreUnit 5001 Personal Development as a Manager and Leader Essay10584 Words   |  43 Pages Author: Liz Oram Kent County Council 16th December 2011 Contents Executive Summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 3 Section 1†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3 Section 2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 5 Section 3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 7 Section 4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 10 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Page 12 Recommendation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page 12 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦PageRead MoreLeadership for Health and Social Care and Children65584 Words   |  263 PagesQUALIFICATION HANDBOOK Level 5 Diploma in Leadership for Health and Social Care and Children and Young People’s Services (England) (3978-51/52/53/54/55/56) December 2011 Version 2.1 (July 2011) Qualification at a glance Subject area City Guilds number Age group approved Entry requirements Assessment Fast track Level 5 Diploma in Leadership for Health and Social Care and Children and Young People’s Services (England) 3978 19+ There are no entry requirements Portfolio of Evidence, PracticalRead MoreEssay On Communication And Professional Relationships With Children7131 Words   |  29 PagesCACHE LEVEL 3 SUPPORTING TEACHING AND LEARNING IN SCHOOLS AWARD FINAL 1. In your own words summarise the major learning points from the whole of the study programme with particular reference to:  · Communication and professional relationships with children, young people and adults  · Schools as Organisations  · Understanding child and young person development  · Understand how to safeguard the wellbeing of children and young people Communication and professional relationships with children, young peopleRead MoreEssay on Tda 3.2 Assignment Schools as Organisations9471 Words   |  38 Pageslearning, development care forms the Early Years Foundation Stage (EYFS), which follows the following principles: †¢ Good relationships will give children emotional security. †¢ Provision needs to be inclusive reflect/meet the needs of all children irrespective of their background or ability. †¢ Providers work closely with parents/carers to form a 2-way flow of information. †¢ Play is vital for the children’s learning well-being. All children aged 3-4 years in England areRead MoreEssay on Childhood and Individual Training Plan36789 Words   |  148 PagesYour Induction Workbook Name Elizabeth Freshwater Job title Team Leader Organisation Northerncare Date 20/04/2012 Induction Standards Workbook Contents 2 Contents Contents 3 Chapter 7: Standard 1: understand the principles and values essential for working with children and young people 37 Chapter 9: Standard 3: understand health and safety requirements 56 Chapter 10: Standard 4: know how to communicate effectively 69 Chapter 11: Standard 5: understand the development of children and youngRead MoreHsc Level 5 Unit 534 Essay14626 Words   |  59 PagesCandidate Performance Evidence Record | | NVQ Title and Level: Health and Social Care level 5 Unit 534 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...... Candidate Name: Rafal Gac †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..................... Use this form to record details of activities (tick as appropriate) Observed by your assessor | | Professional discussion | | Evidence ref:Unit numbers: | Seen by an expert witness | | Product evidence observed | | | Seen by a witness | | Assignment/ ProjectOther__________________Read MoreEducation System in England7734 Words   |  31 Pages voluntary and private nurseries, childminders and playgroups - available to children between the ages of two and five. At the end of 2000 there were 937,000 pre-school places available - 264,000 in day nurseries, 353,000 in playgroups and other settings and 320,000 with childminders. The government has promised to improve the quality of education available for this age group and to increase the quantity of available places. All four year olds are now promised a part-time place of five morning or

Interest Groups And Their Influence On Public Policy

Interest groups are organized to create an influence in governmental policies. Interest groups abide by three structures: interest groups share common interests and goals, they are an organized structure, and they desire to influence public policy. Interest groups come in many different sizes and backgrounds but all are important to representatives and reelections. Interest groups typically release documents with representative â€Å"report cards† to indicate how well or not a representative is voting in Congress to that specific interest group’s standards. According to Congress and Its Members, members of Congress may face a primary challenge in the next election if their voting strays to far from their promises and pledges to certain issues. Report cards are based off of the members’ roll call voting and is based on a scale from zero to one hundred. The scores also affect whether or not a member of Congress will receive support and financial aid during campaign s. There can be plentiful of issues to worry about when casting a vote as a member of Congress. The scores can positively and negatively affect a member especially if a member is trying to win reelection (Davidson, 1981). These scores are not used to indicate whether an interest group favors a representative and is also not an indicator of whether or not a representative is â€Å"working† for an interest group. Through the use of interest group ratings, political scientists can determine how Representative Loretta Sanchez,Show MoreRelatedThe Influence of Interest Groups on Public Policy2075 Words   |  8 PagesThe Influence of Interest Groups Introduction An interest group is an association of individuals or organizations who share ideas and/or attitudes and attempt to influence public policy without trying to be elected. These groups may also be known as advocacy groups, pressure groups, or lobbying groups. Berman and Murphy (2011) note that American democracy is influenced by a number of well organized groups designed to persuade government policy toward a particular outcome. Although many distrustRead MoreAmerican Civil Liberties Union Of Michigan ( Aclu )1378 Words   |  6 PagesInterest Groups with a Mission to Help Flint Residents Gain Access to Clean Water Introduction Interest groups are collections of people with common interests, beliefs, concerns, or goals who advocate for public policies that coincide with their agendas. These groups are most influential when they are formal, have a standardized agenda for policy change, and are non-governmental actors. One of the most recent and crucial issues to many environmentally minded interest groups is the Flint water crisisRead More The Interest Group Essay1015 Words   |  5 Pages An interest group is a group that seeks a collective good, the achievement of which will not selectively and materially benefit the membership or activists of the organization. These organizations try to achieve at least some of their goals with government assistance. The difference between interest groups and political parties is that political parties seek to constitute the government, whereas interest groups try only to influence it. Some of the things that interests groups seek from governmentRead MoreModels of Public Policy1550 Words   |  7 PagesMODELS FOR POLICY ANALYSIS Uses of Models. The models we shall use in studying policy are conceptual models. Simplify and clarify our thinking about politics and public policy Identify important aspects of policy problems Suggest explanations for public policy and predict its consequences Selected Policy Models. INSTITUTIONALISM: POLICY AS INSTITUTIONAL OUTPUT Government institutions have long been a central focus of political science. Public policy is authoritatively determined, implemented, andRead MoreEconomic Inequality Of The United States910 Words   |  4 Pagesmeans that the top 1% of wealthy group is gaining more, but the middle and lower classes are hardly maintaining the same earnings or even making fewer profits than before, arguably the latter happens more often today. This controversial issue - the economic inequality that has been increasing significantly since the 1970s, seemingly attributed to the expansion of interest groups, which in turn negatively impacts the democracy in the United States. The interest groups in the United States started toRead MoreCorporate Internal Policy Interference : A Paramount Determinant Of The Mncs Direct Influence Over Government Policy1547 Words   |  7 PagesSection III – Corporate Internal Policy Interference A paramount determinant of the MNCs direct influence over government policy is the subsystem of government policy development that includes the intense cooperation and competition between external and internal interest groups. This policy subsystem includes powerful structural industry groups that utilize economic power to create alliances in government and directly influence policy development (Eisner, p. 137, 2007). This subsystem is stable inRead MoreSpecial Interests Groups and Political Participation Paper1102 Words   |  5 PagesSpecial Interest Groups and Political Participation There are many Special Interest Groups involved in the influence of public policy. The view about the influence these Special Interest Groups create is that their attempts are biased to their special interest and the interests of their clients. Unfortunately, the influence of the most well funded interest groups overshadows even the most well intentioned under funded interest groups. This paper will focus on one special interest group thatRead MorePolitical Parties And Interest Groups1088 Words   |  5 Pagesparties and interest groups are able to get citizens to participate in politics and political party participants or interest group members. This is a comparison and contrast paper. The following will be a comparison between political parties and interest groups. Three points will be mentioned. The first point will be the purpose, the second will be the role they play and finally three strategies parties and interest groups use to get people to participate. A political party is a group of dedicatedRead MoreWhy Voting Is Important For Public Policy853 Words   |  4 Pages Voting is very essential and one of the easiest methods to influence public policy. You just need to be registered, and go to a polling station. It is simple because the government encourages people to vote, to hear a broad range of opinions. It is a form of direct democracy because when you vote, it directly affects the side or issue you support. Your vote is one more supporting opinion for a candidate or issue that is counted. Some people may think that their vote won’t make a big differenceRead MoreThe Presidential Campaign And Obama s Administration970 Words   |  4 Pageswas interest groups and lobbyists. Obama had to deal with interest groups all throughout his presidency, whether it was dealing with Congress or his interaction with committees. Over time interest groups have taken on a larger and more important role in government. The intera ction between interest groups and Obama played an influential role in shaping his presidency. Special interest groups are a group of people, usually formally organized that share a common concern and wish to influence public

Interest Rate Behavior and Lending in Microfinance Free Essays

string(68) " MFIs and the literature on competition in microfinance is limited\." An Essay on Interest Rate Behavior and Lending in Microfinance Abstract: This essay analyzes factors which affect interest rate behavior and its subsequent impact on lending in microfinance. Here we have used regression model for our analysis. Furthermore comparison has been drawn among the different sources of loans outside Bangladesh. We will write a custom essay sample on Interest Rate Behavior and Lending in Microfinance or any similar topic only for you Order Now Here the experience of microfinance outside Bangladesh like India, South and South-East Asia, Latin America has been fully illustrated. This essay conducts analysis on the basis of the existing literatures on Microfinance. Interest Rate Behavior Determinants of interest rate of lending in Micro-finance: * to expand and improve business operation * recruiting personnel , * marketing the services , * improving financial information system, * constructing new offices * Default * Unwillingness to pay * Poor Management * Economic recession * Inability to pay * Staff identifying * Checking creditworthiness * processing loan applications, * disbursing loans, monitoring * collecting repayments, * costs of the space occupied, * communications, transport, * support staff, Grant * Equity * Foundation * Trust * Saving Account We can observe that in MFI lending there is higher interest rate than the commercial bank’s lending rate. The interest rate charged here is higher as cost of funding, processing, cost of risk of loan losses and profit are higher in this case. The graph below shows the different ingredients interest rate. As above-mentioned factors are very much crucial in this sector that is why requir e extra attention and thereby require the MFI to charge high interest rate. Rosemberg, R. , A. Gonzalez and S. Narain (2009) and Gonzalez (2010), suggest that though small loan provided by the MFI has low default rate but has higher administrative cost that most of the cases cannot be offset by economies of scale. These administrative costs are the single largest contributor to interest rates. Finally, they suggest that, a bigger loan size may help them to reduce their lending interest rate. Further, they also emphasize if higher loans were received by more experienced borrowers then credit risk would decline and thereby interest rates. Lending in Micro-finance: Accordingly the loan transaction may be described in the following steps. First, the financial firm decides how much to charge and what the optimal loan size to offer must be in order to reach its profitability goal. Once known the value of the lending interest rate and the average loan size the financial institution offers, a potential customer decides whether s/he wants to request a loan. Taking into account the credit history of the potential borrower and its income-expenditure stream, the financial institution builds a risk profile of the individual. With this at hand, they decide where to lend or not. The loan transaction process is given below: P. otler of Groningen university with his vast research wanted to show that profitability will increase when lending interest rates and/or productivity and/or the loan size increase or when the funding cost declines . He also showed that The lending interest rate will be negatively correlated with the loan size. So if they wish to achieve a higher profitability it is likely that all else equal they will offer loans of higher size. When microfinance institutions start operations they usually offer loans of small amounts because they do not have much capital or experience and debtors tend to be people without credit history. We find that the lending interest rate is negatively correlated with the productivity of financial institutions and years of operation and positively correlated with the funding costs. What Can Reduce the Interest Rates in Microfinance? P. cotler also shows that probability that financing boosts growth is weakened if interest rates are extremely high. There are two policies to reduce interest rate : * One is to reducing funding cost and * Another is increasing productivity. How could productivity be raised? Institutional factors such as technology use and management quality and commitment to efficiency should be variables to consider. Further, it should depend on with what capacity loan officers to reach their target clients. Such capacity not only depends on the quality of infrastructure but maybe more important on the geographic and demographic characteristics of the country in which microfinance institutions operate. 1 Effects of Competition over Lending Behavior in Microfinance Competition in a good influencing factor for the markets, consumer protections, efficiency of allocation and incentive for the development of new products. MFI’s enjoyed a monopolistic market in the early years of its inception. Monopolistic market power is associated with allocative inefficiency. Allocative inefficiency refers to the welfare losses as a consequence of high prices a monopolist charge. There is even further loss if the monopolist employs inefficient technology (productive inefficiency). Besides, there may not be demands to invest in efficient technology and introduce new products. Therefore, it would be realistic to assume competition can be beneficial in the context of microfinance market as it may result in improved and new financial product designs, better customer services, lower costs and lower interest rates. The other side of the argument is that microfinance market makes use of soft-information and depends on strong MFI-client relationship. MFIs provide financial services for the poor that are considered not creditworthy by the conventional banks. They are often praised for overcoming the problem of information asymmetry and providing loans without collateral requirements. They do so by establishing strong personal relationship with clients. Another tool is the usage of other forms of collateral such as group lending that generates social collateral. Competition and the effort to win clients and expand market share, therefore, may lead to low screening and lending standards. There are some indications of lose MFI-clients relationship with intense competition. Increased competition is also associated with an increase in information asymmetry, which makes it difficult for MFIs to know about the general debt level of clients. This in turn may lead to manifold borrowing, serious debt burdens, low repayment rates and poor portfolio quality. The effect of competition could go both ways and deserves an empirical investigation. However, very few examine the effect of competition among MFIs and the literature on competition in microfinance is limited. You read "Interest Rate Behavior and Lending in Microfinance" in category "Essay examples" Below is an overview of the few available related works. The focus on making MFIs profitable and financially-sustainable started in the 1980s and 1990s. The essential elements of this approach are competition, regulation and profitability. The essay explores the Latin American microfinance market where the commercial approach to microfinance proceeded rapidly. It describes the market as facing rising competition, which leads to market saturation in some countries. Olivares-Polanco (2005) examines some of the subjective and descriptive evidences. He investigates the effect of competition by mainly focusing on outreach (measured by loan size). His findings show that increased competition results in lower outreach. Navajaset al. (2003) studied competition in the Bolivian microfinance market by focusing on two major MFIs (Casa Los Andes and BancoSol), which collectively have around 40 percent market share. The results suggest that outcome of competition is ambiguous since competition leads to innovation thereby expanding outreach. However, it reduces the ability of lenders to cross-subsidize less profitable smaller loans. In a similar study, Vogelgesang (2003) examines how competition affects loan repayment performance for Caja Los Andes. The analysis indicates competition is related with multiple loan taking and higher levels of borrower indebtedness. The probability of default is also shown to be high with higher levels of indebtedness. On the other hand, he argues the probability of timely repayment is high in areas where there is high competition and high supply of microfinance services. Thus, the results seem inconclusive. A theoretical model developed by McIntosh and Wydick (2005) characterizes the effects of competition between MFIs where increased competition leads to increased information asymmetry. As a number of competing MFIs amplify in a market, which makes information sharing between them challenging, borrowers may engage in multiple borrowing which increases the debt level of clients and the probability of default. This in turn can make worse off borrowers with a single lender since this behavior will create an externality by inciting MFIs to respond to multiple borrowing by adjusting interest rates upward. In a Ugandan microfinance market, which McIntosh et al. , (2005) studied, there is a rise multiple borrowing and decline in repayment rate as competition intensifies. Other works that do not address the effect of competition among MFIs but present an argument about the possible effects of competition includes Hermes et al. (2009). Their work examines how overall level of financial development in a country affects the efficiency of MFIs. After presenting a balanced argument that the effect of financial development on efficiency could be both negative and positive, they empirically document a positive effect of financial development of efficiency of MFIs. They suggest competition, among other channels, through which financial development could affect efficiency. On a related work, Cull et al. (2009b) investigates how MFIs perform under the pressure of competition from formal banks. Their results show that in a country where there is larger formal bank presence, MFIs tend to deepen their outreach (i. . , extend their outreach to women and also lend in small amounts). However, the effect on other performance indicators, such as profitability, appears weak. Findings Given significantly large numbers of people in developing countries are financially excluded and the relative success of MFIs in promoting access to finance for the poor, it is not surprising to see MFIs get the attention they are enjoying. With the growth of the microfinance sector and increasingly varied players comes intense competition, which the effects on MFIs outcomes are not clear. In this essay, we take the first approach in measuring competition in a standard way. Interestingly, the measure shows indeed competition is growing in the microfinance market. As a next step, a critical question is addressed, namely what is the effect of increased competition. We consider important dimensions of MFIs’ performance. These are outreach, loan repayment, efficiency and profitability. The results document strong negative effects of competition on performance of MFIs, after controlling for various macroeconomic and MFI factors. We show competition is negatively related with outreach while it is associated with rising default rates. Furthermore, declining efficiency and deteriorating financial performance is shown to be associated with intense competition. The results might appear rather depressing for microfinance enthusiast, anyone for that matter, who would like to see the sector grow and bring all the positive benefits along. What could be done? These calls for measures that do not put a halt on the growth of the sector rather ensure the (negative) competitive effects are minimized. This may include designing ways that makes sure MFIs do not compromise lower lending standards for increased market share. At the same time, designing ways that promote information sharing between MFIs, so that a borrower that default on one MFI loan could not turn to another MFI in the neighborhood and granted a loan, can contribute to lower delinquency as well as better borrowers’ welfare. In addition, promoting financial literacy among clients may help them in their borrowing decisions, which in turn may limit multiple loan-taking. Finally, as we show in the results, increased competition is negatively associated with efficiency of MFIs. Innovative ways among MFIs that could enhance efficient service provision may also help in ensuring benefits from the growth in the microfinance market. Incentives and Disincentives that Affect Lending Behavior in Microfinance In late 1980s and early 1990s thousands of non-governmental organizations (NGOs) and specialized finance institutions around the world initiated micro enterprise finance programs. Most of these programs are financially supported by the international donor agencies or governments to improve the lives of the poor. Therefore, for NGOs micro enterprise finance appears to be socially motivated. Reasons Why Banks Make Micro and Small Enterprise Loans Frequency of Response* % of total a) Profitability of micro and small loans 72 49% b) Changing market conditions and increasing competition in lending to large/medium enterprises 64 44% c) Regulations imposed by the government 25 17% ————————————————- d) Poverty alleviation / social objectives 29 20% Disincentives for Making Micro and Small Enterprise Loans Frequency of Response % of total a) Higher administrative costs 29 40% b) Risky borrowers 12 17% c) Interest rate controls 21 29% d) Not interested in micro enterprises 5 7% e) Lack of network and personnel to serve this market 23 32% f) Other 18 5% Banks’ Lending Behavior and Loan Characteristics Banks Age and Their Portfolio Share in Micro/Small Business Loans Out of 148 banks, 119 banks answered to the question on loan portfolio analysis. When these banks are classified according to the number of years since they were established, it is found that the newly established banks, on average, have a larger share of loan portfolio delegated to small and micro enterprise loans than the older banks. Loan Terms The findings of this research indicate that, the loan terms provided by these commercial banks for small and micro enterprises ranges between three months to six years. On average, the loan term for micro enterprise loans is 2. 4 years and for small businesses it is 2. 9 years. These loan terms are much longer than the loan terms provided by NGOs, which are generally between one to three months. Average Loan Terms for Micro and Small Enterprise Loans Sample Size Average (years) Median (years) Micro 57 2. 4 1. 75 Small 46 2. 9 3. 00 Loan term: In micro and small business finance, the loan term or the loan repayment schedule can affect the ability of the borrower to pay his/her loan back. The shorter loan terms or frequent payments of installments can make it easier for the borrower to pay his/her loan back, whereas the longer loan terms and infrequent payments of loan installments can make it difficult for micro/small business owners to pay their loan on time. Therefore, the longer the loan term, or the less frequent are the loan installments it is more likely for banks to have higher arrears which indicates a positive relationship between the length of the loan term and the level of arrears for a bank. Average interest rate on micro/small loans: In the micro finance literature, it has been widely accepted that micro and small enterprises are capable of borrowing at commercial, or market interest rates. Furthermore, it is also argued that, if micro or small enterprise loans are subsidized by governments, loan default or corruption may be encouraged which may result in higher arrears in banks’ loan portfolios. These arguments suggest a negative relationship between loan rates and banks’ arrears. On the other hand, the higher nominal interest rate paid on a loan implies a greater cash flow burden on the enterprise hence increasing the likelihood of arrears. Due to data limitations, other financial costs, such as fees and commissions associated with the loan could not be taken into account in this research. Findings: The higher the loan interest rate given everything else is held constant; the higher will be the rate of arrears. This finding contradicts with the common argument that the micro and small enterprises are capable of borrowing and paying their loan back with a high rate of interest. It is however important to note that micro and small enterprises may show different characteristics in loan repayment with respect to given interest rates. One of the most important findings of this study is that many banks are using inappropriate lending criteria when making loans and managing their portfolio of small business loans. In the case of small business loans the banks that require collateral have higher than average levels of loan arrears. Hence reliance on collateral tends to cause poor borrower evaluation and inadequate follow up once the loan have been made. It is also found that the level of interest rate charged on the loans is not a factor affecting the rate of arrears for micro enterprise loans but it is a factor affecting the level of arrears for small business loans. Justification of high interest rate in Micro finance Small businesses normally struggle to find out the sources of fund due to the small size of business where lenders face difficulties to cover up the loan money. From several evidences it is observed that small businesses are very efficient to utilize the funds and can rapidly realize profits though borrowing at very high interest rate. An author explained this through an example of a fruit seller who takes loan in the morning, buys fruit, sells it and pay lender outrageous rates to repay the money by the end of the day. So, It is very critical that though rates are high that MFIs have, small business can cover the spread. How can interest rate be reduced? Evidences from Bolivia pursue us that interest rate in micro finance sector can be reduced by great regulation and create a competitive environment among the micro finance institutions. If situation looks like that MFIs are managing huge profits in that case government should take some initiatives that will discourage MFIs to make extra ordinary profit. Government can give licenses to new MFIs to create competition. But it should be remember that regulatory framework is a vital element. So, before giving licenses government should strengthen the monitoring function. Then we can expect thatat least some of that profitability will be passed back to the customer either through lower rates, reduced fees or another way. Should Subsidy Be Provided To Reduce Interest Rate? From the very beginning of the history of Micro finance we see that it has been growing at an exponential rate over the years. Many evidences about the recovery rates convince us that interest rate is almost justified so subsidy may create distortion in this sector. According to Mary Ellen Iskenderian, President and CEO of Women’s World Banking, â€Å"I don’t think a subsidy is the way to go about reducing rates because, in the end, the reason that microfinance has been so successful to-date is that it has always been about sustainability—sustainability of the institutions to recover their costs as well as sustainability of the borrower to make on-time payments. Responsiveness of lending amount to the changes in interest rate: Example from Bangladesh Bangladesh is a poverty-stricken country. It is a great pleasure for marginal people to get loans from MFIs because it is almost impossible for them to manage loan from conventional commercial banks. So, poor people are willing to pay even high interest rate to get loans. Now the question is that how are poor people responsive to increase i n interest rate charged by MFIs? SafeSave, a credit cooperative in the slums of Dhaka,Bangladesh, operate three branches across the city to provide credit. Administrative records kept by this MFI asserts that when interest rate increases suddenly, less wealthy borrowers reduce their demand for loan and they are relatively more sensitive than the wealthy borrowers. Another important thing is that the loan portfolio of this organization shifts from less wealthy borrowers from wealthy borrowers with the increase in interest rate. Influential advocates now argue that poorhouseholds are so insensitive to interest rates so interest rate in micro finance sector should be deregulated. If this is so, microfinance can readily expandto serve the hundreds of millions of currently excluded households, without sacrificingdepth of outreach. This claim is far from clear as a general proposition. First, diminishing marginal returns to capital disregards the possibility of unequal access to non-capital inputs like managerial skillsand human capital by poor borrowers. Moreover, raising interest rates can in principle exacerbate moralhazard and adverse selection, worsening loan repayment rates and screening out the most reliable borrowers. And, while microlenders may still find a pool of customers afterreal interest rates are raised, the customers may not be from the same pool that was reliable, willing and able to pay the lower rates. In addition, Moral perception to keep costs as low as possible for the poor, have compelled thelargermicrolenders in Bangladesh to keep real interest rates below 40 percent per year,even if it means turning to subsidized resources to cover costs (e. g. , Morduch, 1999). The average fees charged by two large lenders in Bangladesh arejust under 30 percent. The Grameen Bank (which is not one of the two) keeps theirinterest rates and fees close to 20 percent per year (nominal) on their main lending products—and they ignore suggestions to raise rates. Experience inside Bangladesh Credit delivery system by Grameen bank Grameen Bank Credit Delivery means taking credit to the very poor in their villages by means of the essential elements of the Grameen credit delivery system. The credit delivery system of this authentic micro-finance is very much well-functioning. The credit delivery is the most productive weapon of Grameen bank to reach the highest number of its beneficiaries. Grameen Bank credit delivery system has the following features: 1 There is an exclusive focus on the poorest of the poor. Exclusivity is ensured by: i) establishing clearly the eligibility criteria for selection of targeted clientele and adopting practical measures to screen out those who do not meet them ii) ii) in delivering credit, priority has been increasingly assigned to women iii) iii) the delivery system is geared to meet the diverse socio-economic development needs of the poor 2   Borrowers are organized into small homogeneous groups. Such characteristics facilitate group solidarity as well as participatory interaction. Organizing the primary groups of five members and federating them into centres has been the foundation of Grameen Bank’s system. The emphasis from the very outset is to organisationally strengthen the Grameen clientele, so that they can acquire the capacity for planning and implementing micro level development decisions. The Centres are functionally linked to the Grameen Bank, whose field workers have to attend Centre meetings every week. 3 Special loan conditionalities which are particularly suitable for the poor. These include: i) very small loans given without any collateral i) loans repayable in weekly instalments spread over a year    iii) Eligibility for a subsequent loan depends upon repayment of first loan iv)   Individual, self chosen, quick income generating activities which employ the skills that borrowers already posses    v) close supervision of credit by the group as well as the bank staff    vi) stress on credit discipline and collective borrower respons ibility or peer pressure    vii) Special safegaurds through compulsory and voluntary savings to minimise the risks that the poor confront    viii) Transparency in all bank transactions most of which take place at centre meetings Simultaneous undertaking of a social development agenda addressing basic needs of the clientele. This is reflected in the â€Å"sixteen decisions† adopted by Grameen borrowers. This helps to: i) Raise the social and political consciousness of the newly organized groups    ii) Focus increasingly on women from the poorest households, whose urge for survival has a far greater bearing on the development of the family      iii) Encourage their monitoring of social and physical infrastructure projects – housing, sanitation, drinking water, education, family planning, etc. Design and development of organization and management systems capable of delivering programme resources to targeted clientele. The system has evolved gradually through a s tructured learning process, that involves trials, errors and continuous adjustments. A major requirement to operationalize the system is the special training needed for development of a highly motivated staff, so that the decision making and operational authority is gradually decentralized and administrative functions are delegated at the zonal levels downwards. 6| Expansion of loan portfolio to meet diverse development needs of the poor.   |   As the general credit programme gathers momentum and the borrowers become familiar with credit discipline, other loan programmes are introduced to meet growing social and economic development needs of the clientele. Besides housing, such programmes include:|   | i)| Credit for building sanitary latrines| | ii)| Credit for installation of tube wells that supply drinking water and irrigation for kitchen gardens|   | iii)| Credit for seasonal cultivation to buy agricultural inputs|   | iv)| Loan for leasing equipment / machinery, ie. c ell phones purchased by Grameen Bank members|   | v)| Finance projects undertaken by the entire family of a seasoned borrower. Three Cs in Credit delivery: Character: means how a person has handled past debt obligations: From credit history and personal background, honesty and reliability of the borrower to pay credit debts is determined. Capacity: means how much debt a borrower can comfortably handle. Income streams are analyzed and any legal obligations looked into, which could interfere in repayment. Capital: means current available assets of the borrower, such as real estate , savings or investment that could be used to repay debt if income should be unavailable. | | The loan disbursement has been robust year after year and profit has also been increasing year after year. The loan disbursement schedule and profit are summarized below: year| Loan disbursement (million Tk)| Profit/loss (million Tk)| 2001| 146538. 20| 58. 45| 2002| 162286. 24| 59. 67| 2003| 183575. 33| 357. 52| 2004| 209166. 76| 422. 13 | 2005| 3248163. 17| 1000. 44| 006| 306368. 63 | 1398. 15| 2007| 356798. 22| 106. 91| 2008| 418903. 07| 1305. 00| 2009| 498311. 47| 371. 57| 2010| 594460. 61| 757. 24| Interest rate charged on different loan on different duration are given below: Description of the loan| EAIR(Old Payment Method)| EAIR(New Payment Method)| 10-Year stable Level Loans @ Tk. 2,000| 350%| 556. 44%| 10-Year Increasing Loans| 18. 48%| 44. 13%| Actual 7-Year Center Loan History| 15. 39%| 35. 57%| The  "Old† Payment System: Under the â€Å"old† system, Grameen borrowers made weekly payments for 50 weeks. Their principal balance was reduced by the full amount of the payment, and no interest payment is credited. The â€Å"New† Payment System: Under the â€Å"new† system, the entire structure of loan payments was altered. The loan payment period is now defined as 46 weeks in length, but factored into the system is the anticipation of 6 official â€Å"national holidays† when the week’s payment is suspended. ASA Microfinance in Bangladesh: ASA has been working relentlessly to reduce poverty since its inception in 1978. The formal banking sector in developing countries, like Bangladesh, does not typically provide financial services to the poor. This sector concentrates on large loans to the upper class, thereby completely excluding low income groups. The microfinance movement, however, has shown that there is a thriving market among the poor when financial products cater to their specific needs. The poor are a quite active group in any economy. ASA has shown that their needs can be met while at the same time making the providing institution profitable as well. Up to October 2011 ASA’s cumulative Loan disbursement has been BDT 481,381 million (US$ 6,326 million) while loan outstanding (principal) is BDT 44,972 million (US$ 591 million) among 4. 43 million borrowers. At the end of June 2011 ASA’s Operational Self Sufficiency(OSS) was 182. 48%, Financial Self-sufficiency (FSS) 118. 82% and rate of loan recovery 99. 83%. The loan disbursement over the years are given below: Year| Disbursement in million Tk. (during the year)| 2008| 61,108,00 | 2009| 61,495,00. | 2010| 68,486,00| 011| 44,835,00| The rate of interest charged by the ASA is given below: Category| Eligible Criteria| Initial Maximum Loan Size| Interest Rate| Loan term| Primary Loan| Economically active poor to undertake or strengthen income generating activities (IGAs). | BDT 8,000-20,000 to maximum BDT 50,000 at first loan cycle. | Maximum 27% declining| 4, 6 or 12 months based on nature of IGAs| Special Loan| Small/micro enterprises or entrepreneurs and traders to pr omote and scale up production, business activity and employment generation. BDT 51,000-500,000 | Maximum 27% declining| 12, 18, 24 or 30 months based on nature of enterprises| BRAC BRAC, a development organization, was formed in 1972 under the Societies Registration Act 1860. Although it was first set up to resettle refugees in post-war Bangladesh, BRAC later redesigned its strategies in accordance with its philosophy of poverty alleviation and empowerment of the poor. At present, BRAC has a large number of development programs that cover the areas of health, education, credit, employment and training for the poor people of Bangladesh. BRAC carries out licensed banking activities through the BRAC Bank Ltd. and also earns from various income generating projects such as Aarong Rural Craft Centre, BRAC Printers and Printing Pack, BRAC Dairy and Food project, BRAC Tea Estates, andvarious programme support enterprises such as poultry farms, feedmills, seedmills and prawn hatcheries. Microloans: These loans, which range from USD 50 – 700, are given exclusively to individual women who are serviced in a group setting, namely the VO. The VO acts as an informal guarantor by creating peer pressure to ensure timely repayment. Borrowers repay through weekly or monthly installments and deposit savings during the regular VO meetings. These loans are generally used for small operations in poultry, livestock, fruit and vegetable cultivation, handicrafts or rural trade. Microenterprise loans (Progoti): These loans, which range from USD 700 to 10,000 are given to both male and female entrepreneurs to support and help expand existing small enterprises which are too small to qualify for credit from mainstream banks. Borrowers generally use these loans to finance shops and small-scale manufacturing activities. A ladder of opportunity :BRAC have developed a ‘ladder’ of financial services to target different poverty groups because we understand that the financial needs of the poor are diverse. The most vulnerable are the extreme poor who do not benefit from microfinance – for this group BRAC have developed a grant-based programme that incorporates asset transfers with non-financial support; BRAC’s Ultra Poor programme. Similarly, it has launched, with the help of the Government, a specific customised product for marginal farmers, which combines access to finance with technical support. Another specialised microloan scheme aims to financially empower adolescent girls, helping them continue their education, build savings and receive livelihood training to start smaller home-based enterprises. The rate of interest charged by the BRAC Bank SL no. | Types of loan| Annual interest Rate| 1| General micro credit (Rural and Urban)| 25%-33%| 2| Micro Enterprise loan| 26%-40%| 3| Ultra poor loan| 22%| 4| Agriculture loan| 22%-33%| 5| Seasonal loan| 26%-33%| 6| Disaster management loan| 2. 8%-21%| Loan Disbursement over the year is given below: Sl no. | year| Loan disbursement(TK)| | 2009| 75680756900| 2| 2010| 38749653600| 3| 2011| 39554248779| 4| 2012| 42235412000| Experience outside Bangladesh There is a vast array of experience outside Bangladesh as microfinance is now a globalphenomenon. The information below is simply intended to give a snapshot of the differentexperiences in a few countries, and to show how the complex issue of interest rates has beenaddressed, either b y inaction or explicit action by governments. Figures on interest rates fromvarious countries in different parts of the world are given below, in particular those nearby inAsia. Countries are also mentioned where the government or parliament (not necessarily thesame) has sought to impose a ceiling on interest rates in the twin belief that poor peoplecannot afford to pay the high interest rates charged by MFIs and that it is indeed immoral thatthose who are poor should pay higher interest rates on loans than those paid by richerindividuals. South and South East Asia The table below (prepared for the Joint Donor Strategy initiative) gives a summary picture ofthe situation in selected countries in the S. nd SE Asia Region, showing data assembled byEDA Rural Systems, with the comparative rates in Bangladesh at the bottom of the table forcomparison: Three important conclusions can be drawn from these figures. 1. First, that the interest rates charged by MFIs are invariably higher than the rates charged by commercial banks, on average approximately 100% higher. 2. Second, that in general the rates charged by informal moneylenders vary much more widely than either the rates charged by the banks or by MFIs, and almost always are substantially higher than the rates charged by the MFIs. . Third, the interest rate charged by almost all NGO-MFIs in Bangladesh, 30% effective annual rate, is by no means out of line with what is being charged elsewhere in South and South East Asia. If any person wants to borrow from traditional banking system he has to fill out application form. He has to go to the bank for many times for the sanctioning of loan that incurs substantial amount of transportation cost for him. In addition to high transportation cost, there are some processing cost and commissions charged by banks. Ultimately, Effective interest rate is quite higher in case of borrowing from traditional banking system. On the other hand, traditional banks can’t cover up administrative cost by providing small loans. Comparison of Interest Rates of Various Sources of Loans in India Quoted Cost and Cost after Adjustment for Transaction Costs From the table we see that there is no transaction cost in case of borrowing from MFIs loan. From the evidence of India, we have found that MFIs are used to make election engineering. The main motive of MFIs is to provide credit to women and poor. But, politicians are trying to use it as a political tool. Government provides subsidy which are distributed through MFIs. Large number of impoverished people is a big vote bank for politicians. In this process government influences the decisions of the voters in time of election. In Tamil Nadu we see that government passed ordinance that MFIs could not charge more than 12% interest that may ultimately drive out huge number of lenders from the market. So, poor people have to rely on nonchalant public sector banks and according to Mahajan and Ramola they will not have no recourse except money lenders for borrowing. Interest rate, Lending ; Microfinance Less Dependence on Money lenders, Mahajon etc More economic activities because of easy funding reduce asymmetry of information, rural development possible. Downward competitive environment in informal market. Rise in income level, Purchasing power, Overall standard of living. Production, consumption level increases. Result Eliminate the practice of charging usury, greater financial leverage, only does it help to reduce poverty, it Scales down inequality as well. Fig: Effect of Interest rate, Lending ; Microfinance On the Perspective of Latin America In Latin America, the leading MFIs all operate under a formal legal framework, usually as specialized MFI banks, under the supervision of the central bank. Figures for five of the best known institutions are given below, all of which have substantial numbers of clients (by the standards of the region) and are currently operating profitably. Probably the most interesting (for Bangladesh) is Comparators which has from its inception deliberately targeted poorer clients, as can be seen from the current average size of loans ($277). Leading Microfinance Institutions Primary Indicators (End Third Quarter 2003) The figures below for the same five MFIs show the average rates of interest which they are receiving on their various loan products. Descriptive Statistics | Mean| Std. Deviation| N| NO. CLIEN No of CLIENTS| 94000. 00| 65490. 457| 5| AVG. LOAN Average Loan| 1002. 0| 501. 657| 5| LOANST Total Loan| 78000000. 00| 42361539. 160| 5| Regression Variables Entered/Removed(b) Model| Variables Entered| Variables Removed| Method| 1| NO. CLIEN No of cLIENTS(a)| . | Enter| a All requested variables entered. b Dependent Variable: LOANST Total Loan Model Summary Model| R| R Square| Adjusted R Square| Std. Error of the Estimate| Change Statistics| | | | | | R Square Change| F Change| df1| df2| Sig. F Change| 1| . 169(a)| . 028| -. 295 | 48213878. 375| . 028| . 088| 1| 3| . 786| Predictors: (Constant), NO. CLIEN No of cLIENTS The unstandardized parameters tell you the difference in Y per unit change in X whereas the standardized tells you the difference in Y in standard deviations per standard deviation difference in X. With the exception of BancoSol, these rates are all higher than those charged by the NGO-MFIs in Bangladesh (in the case of Compartamos substantially so), but their operating costs are also higher than the leading NGO-MFIs in Bangladesh due largely to the higher costs of staff. Nonetheless all five institutions are profitable and the high returns achieved by the three most profitable institutions have enabled them to achieve the most rapid rates of growth in client numbers in the 21 months covered by thee figures; almost triple by Banco Solidario; more than double by Compartamos; and over two thirds by Mibanco. Leading Microfinance Institutions: Costs and Interest Rates (End Third Quarter 2003) As reported by Helms and Reille, when BancoSol in Bolivia began as a bank in 1985, it charged a combination of interest and fees equivalent to 65% effective annual interest rate. Today, BancoSol, operating in a highly ompetitive environment, has brought down its costs and charges interest rates on its products yielding the 24% shown in the table above. According to one of the managers at BancoSol, the banks growth from 4,500 to 55,000 clients in just ten years has been possible by its ability to charge sustainable rates of interest. Further, whilst its return on aver age assets is a modest 1. 6%, its current return on average equity is over 11% (because of the leverage it has been able to exercise on its equity). Conclusion Obtaining financial information from institutions involved in microfinance is no easy task. In most countries because there is no financial authority that collects it and makes it available to the public. Furthermore, the absence of governmental or organized market supervision means that these entities can freely decide how to measure – if they want to do it– the variables describing their different sources of income and expenditure. Finally, even if there were an informal consensus on how to measure these variables, that would not necessarily ensure that the information is reliable since it is very likely that accounting deficiencies might exist. 1. David L. Wright, Dewan A. H. Alamgir, Microcredit Interest Rates in Bangladesh ‘Capping v Competition’, Donors’ Local Consultative Group on Finance, March 2004. 2. P. Cotler , What Drives Lending Interest Rates in the Microfinance Sector? , August 4th, 2010, Microfinance Workshop, Groningen University. 3. Esubalew Assefa, Niels Hermes and Aljar Meesters, Competition and Performance of Microfinance Institutions, August 2010. 4. Mahajan, Vijay and Ramola, Bharti Gupta; (August 2003); ‘Microfinance in India – Banyan Tree or Bonsai’, a Review Paper for the World Bank 5. Donoghue, Kieran et al, (June 2002), unpublished manuscript for AusAID ‘ Interest Rates in Microfinance’ . Porteous, David, of Finmark Trust, South Africa (2003); unpublished paper ‘Is Cinderella Finally Coming to the Ball? † 7. Hatice Jenkins, Commercial Bank Behavior in Micro and Small Enterprise Finance, Development Discussion Paper No. 741, February 2000. 8. Microfinance Institution s Under Interest Rates Ceilings, Denis H. ACCLASSATO, Laboratoired’Economied’Orleans (LEO), Universited’Orleans, Preliminary Version, June 2006. 9. Sinha, Sanjay, (2003); ‘Experience in Selected Countries in South and South East Asia on Regulation and Supervision, and Comparative Interest Rates’ How to cite Interest Rate Behavior and Lending in Microfinance, Essay examples

Woodrow Wilson (2992 words) Essay Example For Students

Woodrow Wilson (2992 words) Essay Woodrow WilsonThomas Woodrow Wilson, twenty-eighth president of the United States, might have suffered from dyslexia. He never could read easily, but developed a strong power of concentration and a near-photographic memory. The outbreak of World War I coincided with the death of Wilsons first wife Ellen Axson, who he was passionately devoted to. Seven months after her death his friends introduced him to Edith Bolling Galt, a descendant of the Indian princess Pocahontas, they were married nine months later. By 1912 times were good for most Americans. Farmers were enjoying their most prosperous period in living memory, the cost of living rose slightly, unemployment was lower than it had been for several years, and working conditions were improving. By 1913 when Wilson was inaugurated, American industries were in a flood of consumer goods, including automobiles, telephones, and movies. However, Wilson almost did not appear on the presidential ballot, the leading contender for the Democr atic nomination was House Speaker Champ Clark. It took 46 ballots before the delegates swung to Wilson. In the election, the Republicans were split between Taft and Roosevelt, almost guaranteeing a Democratic, and Wilson victory. He sought ways to build patriotism and to reshape the federal government to govern the nation more effectively. Wilson was a conservative, in his books and articles, he often displayed hostility to reformers and rebels. Although Woodrow Wilson is mostly remembered for his success in foreign affairs, his domestic reform and leadership abilities are notable as well. Commemorated by the public mainly for his success in guiding the nation during its first great modern war, World War I, for getting out of the Mexico/Philippine muddle inherited from ex-president Taft, and for his dream of ending the threat of future wars through the League of Nations, Wilson is also admired for his domestic successes, which represented the Progressive Era of reform. Diplomaticall y, as well as domestically these events illustrate Wilsons competent leadership skill. Woodrow Wilsons nomination was strongly opposed by the progressives but he eventually passed much of their domestic reforming legislation. The progressive movement backed by Wilson called for some government control of industry and for regulation of railroad and public utilities. Among its other goals were the adoption of primary elections and the direct election of United States senators. Wilson called Congress into special session to consider a new tariff bill, he personally delivered his legislative request to Congress. Moved by Wilsons aggressive leadership, the House swiftly passed the first important reform measure, the Underwood Tariff Bill of 1913, which significantly reduced the tariff for the first time in many years and reflected a new awareness that American businesses were now powerful enough to compete in the markets of the world. In the end the Underwood Tariff had nothing to do wit h trade but the importance was the income tax provision (later the 16th amendment) which would replace the revenue lost when duties were reduced. It also showed that America was powerful enough to compete without protection from the government. As Congress debated the tariff bill, Wilson presented his program for reform of the banking and currency laws. The nations banking system was outdated, unmanageable, and chaotic. To fix this Wilson favored the establishment of a Federal Reserve Board with presidentally appointed financial experts. The Board would set national interest rates and manage a network of twelve major banks across the country. These banks, which would issue currency, would in turn work with local banks. Congress passed the Federal Reserve act basically in the form the President had recommended. Amendments also provided for exclusive governmental control of the Federal Reserve Board and for short term agricultural credit through the reserve banks. This was one of the most notable domestic achievements of the Wilson administration which modernized the nations banking and currency systems, laying the basis for federal management of the economy and providing the legal basis for an effective national banking system. The final major item on Wilsons domestic agenda was the reform of big business. Big businesses worked against the public by fixing prices and restraining competition. Business and politics worked together, and Wilson sought to stop that. Determined to accept big business as an inevitable, but to control its abuses and to maintain an open door of opportunity for the genius which springs up from the ranks of unknown men,1 Wilsons hoped to curb big business. He thought that government should intervene in the regulation of business, and that it was essential to control corporate behavior to prevent corporations from stifling opportunities for creative and ambitious people. Business consolidation was inevitable and might be beneficial, yet he insisted that great corporations behave in the public interest: These were the balances Wilson sought to achieve and maintain. Our laws are still meant for business done, by individuals that have not been satisfactorily adjusted to business done by great combinations and we have got to adjust them,2in that big business was unjust and somebody needed to watch out for the people, and Wilson was just the man to do that. First, the Federal Trade commission, authorized to order companies to cease and desist3 from engaging in unfair competition. Later came the Clayton Anti-trust Act which outlawed a number of widely practiced business tactics. Wilsons New Freedom domestic policies produced what turned out to be four constitutional amendments. The 16th amendment assembled a graduated income tax beginning on incomes over $3,000. The 17th, achieved direct election of senators by the people. The 18th, was prohibition (of the sales or manufacturing) of alcoholic liquors, and the 19th amendmen t, gave women the right to vote. Some of his Progressive reforms include the Workingmens Compensation Act, which granted assistance to federal civil service employees during periods of disabilities; The Adamson Act established the eight hour day for all employees on trains in interstate commerce, with extra pay for overtime, and The Federal Farm Loan Act, made credit available to farmers at low interest rates. Wilsons administration produced major legislation on tariffs, banks, business, and labor. It had been responsible for laws that restricted child-labor, promoted the welfare of seamen, and created a credit system for farmers. Although the administration demonstrated a new sensitivity to labors interests, it did not generally win management over to its position. Businesses made larger gains than labor as a result of the relaxation of the anti-trust laws, the growth of trade associations, and the businessmen of an effective and publicly accepted union-busting technique. Foreign a ffairs also demanded much of the presidents attention. He persuaded Congress to repeal the Panama Tolls Act, which had allowed American ships to use the Panama Canal toll-free when sailing between U.S. coastal ports. Wilson believed that this new law violated a treaty with Great Britain. The President also refused to approve a bankers loan to China, and put himself on record against dollar diplomacy. Wilson insisted that his party live up to its campaign promises of preparing the Philippines for independence. In 1916, Congress passed the Jones Bill, which greatly increased Philippine self-government and made many reforms in the administration of the islands. Convinced that freedom and democracy were universal aspirations, Wilson was determined that the United States would work to advance them. In Asia the United States lacked strength to do much, but in the Western hemisphere it had the power to act; and so in Mexico, Haiti, Dominican Republic, Nicaragua, and elsewhere around the Ca ribbean basin it did. Wilson was not materialistic and assumed that American assistance would be welcomed, when he realized this was not true he tried to minimize American involvement. Wilson dismissed traditional American political isolationism, making America a world power, citizens of the world.4 Most people did agree that the nations increasing economic and military power obligated and permitted it to play a larger political role in the world. Wilson struggled constantly between isolationist sentiments and the necessity for American involvement in world affairs. Determined to avoid entering World War I, he rigorously pursued neutrality. At first Wilson merely proclaimed neutrality, even when German U-boats (submarines) sank a US tanker. Then he tried Peace without victory because he realized that the only lasting peace was one in which the conquered nations were not left poverty-stricken, embittered and biding their time for revenge. Neither the Allies nor the Central powers res ponded. Keeping America out of the war proved to be an extremely difficult, and eventually impossible, job. Wilsons greatest problems concerned shipping. Britain had a blockade against Germany, seizing any cargoes bound for Germany. The British paid for the goods confiscated but the United States thought the interference in its sea trade was a violation of both freedom of the seas and neutral rights. The United States problems with Britain were serious, but its troubles with Germany were worse. The Germans continued to sink ships with Americans on board. After the Sussex, a French channel streamer was sunk, killing 80 civilians, some American, Wilson declared that if these attacks did not stop the United States would have no choice but to sever diplomatic relations5 with Germany. In the end not even Woodrow Wilson could keep the United States out of World War I. When the Germans declared unlimited submarine warfare, Wilson knew the United States would have to get involved. Still he hesitated, hoping for some event that would make an American declaration of war unnecessary. Instead two events occurred destroying all hopes of neutrality. The first was the Zimmerman telegram. This was a message intercepted by Britain proposing a secret alliance between Germany and Mexico. The next event that pushed the US into the war was the Russian Revolution, in which Russia withdrew from the war, this meant the Allies lost a major part of their team, and without the United States, Germany would have surely won. In April 1917 Wilson asked Congress to declare war on Germany. He appointed able men to mobilize the economy and to command the armed forces, never interfering with either. By September 1918 Germanys army was in retreat, its civilians hungry and exhausted. Wilsons real heart was in peace. He insisted on going to the Paris Peace conference himself, where he was greeted by European crowds cheering wildly. He and three other men, known as the Big Four, including Premier V ittorio Orlando of Italy, Prime Minister David Lloyd George of Britain, and Premier Georges Clemenceau of France drew up the Treaty of Versailles, based on Wilsons Fourteen Point address. Aspirations of world order were represented in his Fourteen Points: Open diplomacy, freedom of the seas, the removal of economic barriers among nations, reductions of armaments, the ending of imperialism, self-determination for national groups, the inclusion of Russia in the world community, and, most important to Wilson, the creation of an association of nations to assume collective responsibility for maintaining peace (the League of Nations). Wilson passionately wanted his Fourteen Points implemented, he wanted a treaty that would be fair to fallen enemy as well as to the victors. After many compromises, the Treaty of Versailles was signed, including Wilsons League of Nations. Wilson formally got approval for his League of Nations, but when he returned home with the treaty, he found resistance to him and it. A group of senators refused to accept the treaty as a package, as Wilson demanded. Frustrated, Wilson decided to appeal over the senators heads to the country. He set out on a tour that took him through 30 cities in 24 days, this grueling schedule caused him to he suffer two strokes, the second one leaving his left side paralyzed. For the next few weeks Wilson was near death, nobody was allowed to see him except for his wife who would carry messages to his bedroom and then emerge with an answer. When his mind finally cleared he was presented with Senator Lodges proposed fourteen reservations to his fourteen points. The treaty was rejected because neither Wilson nor Lodge was willing to compromise. Although Wilson was partially paralyzed by the stroke and suffering from other disabilities, he wanted the honor of a third nomination. If he had received it, he may have ran again, so great was his devotion to the League of Nations, which was created without the participation of the United States. The League never took off without the support of the United States behind it. Wilsons political leadership experience was limited to his two year stint as governor of New Jersey. Nevertheless, he had no doubts about his ability to lead the nation, as he said in his inaugural address, I summon all honest men, all patriotic, all forward looking men to my side God helping me I will not fail them, if they will but counsel and sustain me!6 Part of his effective leadership ability, was that Wilson knew how to dramatize issues and to capture public attention. He did not think average citizens were qualified to lead. The leaders task was partly to sense the wishes of the people, but it was also to shape their ideas and to act where they would not naturally act. The Presidents leadership of his party gave him more influence over Congress, but more importantly his standing as the interpreter of the countries instinctive wishes and desires made him a unique national figu re. He was the first president since Thomas Jefferson to address Congress personally, which he did several times. The president, in Wilsons view, thus had extraordinary potential powers attained from his role as political leader and interpreter of the wishes of all people. In contrast to what the people had expected when they chose Wilson as the democratic nominee, he had proved that he could be a leader and that state government could meet the challenges facing it. His academic work had shown that he was not a profound thinker, but he had a rare ability to see the essentials of issues and to delegate authority to others to handle details. While considering issues he was open-minded and eager for practical suggestions about how to achieve a goal, and once he had made up his mind he was firm and consistent. .u704a1302066eb951743288e9a8e89e9a , .u704a1302066eb951743288e9a8e89e9a .postImageUrl , .u704a1302066eb951743288e9a8e89e9a .centered-text-area { min-height: 80px; position: relative; } .u704a1302066eb951743288e9a8e89e9a , .u704a1302066eb951743288e9a8e89e9a:hover , .u704a1302066eb951743288e9a8e89e9a:visited , .u704a1302066eb951743288e9a8e89e9a:active { border:0!important; } .u704a1302066eb951743288e9a8e89e9a .clearfix:after { content: ""; display: table; clear: both; } .u704a1302066eb951743288e9a8e89e9a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u704a1302066eb951743288e9a8e89e9a:active , .u704a1302066eb951743288e9a8e89e9a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u704a1302066eb951743288e9a8e89e9a .centered-text-area { width: 100%; position: relative ; } .u704a1302066eb951743288e9a8e89e9a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u704a1302066eb951743288e9a8e89e9a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u704a1302066eb951743288e9a8e89e9a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u704a1302066eb951743288e9a8e89e9a:hover .ctaButton { background-color: #34495E!important; } .u704a1302066eb951743288e9a8e89e9a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u704a1302066eb951743288e9a8e89e9a .u704a1302066eb951743288e9a8e89e9a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u704a1302066eb951743288e9a8e89e9a:after { content: ""; display: block; clear: both; } READ: Huckleberry Finn (812 words) Essay We will write a custom essay on Woodrow Wilson (2992 words) specifically for you for only $16.38 $13.9/page Order now Wilson adopted an approach to Congress that proved remarkably effective. He outlined the main objectives he wanted to achieve and left legislatures to draft special bills. He made use of public opinion to influence the legislative process by going personally to the capitol to address Congress and by making other public speeches. The significance of the Underwood tariff is debatable but the skill and flexibility Wilson showed in getting it through Congress were not. If one of his reforms stalled in Congress, he would generate pressure on the lawmakers to act by calling public attention to the delay. Through Wilsons aggressive leadership, his administration was responsible for four constitutional amendments. The eighteenth amendment, prohibiting the sales of alcoholic beverages, was controversial because many leading brewers were German, and this made the drive against alcohol all the more popular. However, the main cause was to conserve the food supplies for the war effort. One of his greatest strengths as a leader was his ability to focus on a single issue, identifying its essential points and dealing with it quickly and efficiently. Although the eighteenth amendment was eventually repealed by the twenty-first amendment it was what the country need at the time and was effective in that sense. Wilson thought that it was the presidents job to understand the hopes and dreams of America, which he believed were centered on a peaceful, secure world. Establishing his Fourteen Points, and the League of Nations in particular, was Wilsons method of keeping world peace. In his address, point number fourteen, was an international organization that Wilson hoped would provide a system of collective security.7 Wilson earnestly wanted this to guarantee the political independence of all countries, big or small. During the first year of peace, Wilson focused on the treaty fight. Wilsons diplomatic leadership was strong, keeping the United States out of the Great War and helping in the peace effort afterwards, and he stuck with it, trying to pass legislation that would not only benefit the United States, but the whole world as well. Wilson, far more than any other world leader of his generation raised issues that needed to be confronted and set an agenda for future domestic and international policies. The Underwood Tariff shows successful domestic policy because it inacted a favorable low tariff, in which the United States was open to compete. It also showed mastery in leadership in the course that he used pushing it through Congress. Although his administration is often associated with World War I, Wilson sought world peace with his League of Nations. Faced with decisions and appointments and foreign conflicts, Wilson was admittedly ill-prepared. Because of his concentration on world peace he did not recognize hostility when it was aimed toward the US Wilson, with a high sense of duty and destiny, administered a heady dose of domestic reform, in his New Fr eedom progressive legislation; and foreign intervention, in the League of Nations. Through his strong leadership, both domestically and diplomatically, the nation came out stronger than it was before. Wilson tried to apply his own moral standards to international politics, he was convinced that the president should be the peoples leader, not merely the nations chief executive. BibliographyBIBLIOGRAPHY Bailey, Thomas A.: The American Pageant, DC Heath and Company, 1994. Bailey, Thomas A.: Presidential Greatness, Thomas A. Bailey, 1966. Clements, Kendrick A.: The Presidency of Woodrow Wilson, University Press of Kansas, 1939. Hoover, Herbert: The Ordeal of Woodrow Wilson, McGraw-Hill Book Company, Inc., 1958. Leavell, Perry J.: World Leaders Past and Present, Wilson, Chelsea House Publishers, 1987. Wilson, Woodrow: The New Freedom, Prentice-Hall, Inc., 1961. Woodrow Wilson The World book Multimedia Encyclopedia, World Book Inc., 1996. Woodrow Wilson Infopedia, Future Vision Multimedia Inc., 1995. Government Essays