Sunday, November 17, 2019
Creativity versus Intelligence Essay Example for Free
Creativity versus Intelligence Essay I have been accepted by a research company, a company I have been dreaming to be a part of ever since I discovered that I have extreme interest for research and that I possess skills that only researchers have. My mother however has a bakeshop that I play a large role in; without me, my mom will be having excruciating difficulty running the business alone. As soon as I received the letter stating that I have been accepted to the part-time research job I applied for I went to the company downtown and spoke to the one in charge of the Human Resources division. I have been told that if I have finally decided to accept it, I should return for the contract to be signed. I left the research company and drove around town thinking of what I should do. As I was driving my mother called and told me to drop by at the bakeshop as soon as I can. When I arrived there a few minutes later she told me sheââ¬â¢ll make an offer I could not refuse. She said she will promote me ââ¬â from being an assistant baker to be the head, a dream which I have been yearning to attain as well. Creative Thinking Strategy I left the bakeshop to think. I called my best friend and told her I would like to brainstorm with her with regards to my dilemma. I am aware that in brainstorming I should: 1) ââ¬Å"suspend judgmentâ⬠or to make a final assessment or evaluation later; 2) ââ¬Å"think freelyâ⬠or to include countless options even though they are ridiculous or seemingly impossible to attain; 3) ââ¬Å"tag onâ⬠or to develop and adapt the ideas of other individuals; and 4) come up with countless of ideas (Harris, 2002, n. p. ). This is what my best friend and I did: First, I ââ¬Å"suspended judgmentâ⬠by considering both accepting the job in the research company and taking the promotion in the bakeshop as excellent choices (Harris, 2002, n. p. ). This helps me avoid being biased on one over the other (Harris, 2002, n. p. ). This strategy plays a large role in balancing my options at least initially (Harris, 2002, n. p. ). Second, I engaged in ââ¬Å"thinking freelyâ⬠(Harris, 2002, n. p. ). This led me to come up with ridiculous options like ââ¬Å"maybe I should give up both opportunities and focus on my studies first; maybe later I will have these chances knock up my door once moreâ⬠and ââ¬Å"maybe I should just ask my mother to wait until I finish my contract with the research companyâ⬠(Harris, 2002, n. p. ). Third, I ââ¬Å"tagged onâ⬠as well (Harris, 2002, n. p. ). I developed and adapted the idea of my best friend to just stay in the bakeshop since my mother needs me more than the research company (Harris, 2002, n. p. ). She said that I should be doing my responsibility first as a child before I attend to somebody elseââ¬â¢s (Harris, 2002, n. p. ). I took this seriously and thought I should really pick this as the best option especially that it is our own business after all (Harris, 2002, n. p. ). The current generation, as well as, the succeeding generations will be the first ones to benefit from this if I just stay and help make it more successful (Harris, 2002, n. p. ). Finally, I listed down all the other options I have including taking both jobs and just go through everything successfully by employing time management and discipline (Harris, 2002, n. p. ). The Solution The option I have chosen is to accept the part-time job at the research company, as well as, the promotion at the bakeshop while attending college. I will do my best to carry out my responsibilities through time management as well as discipline. Reflection on the Difference between Intelligence and Creativity I realized that, indeed, ââ¬Å"time pressure quashes creativity because it limits peopleââ¬â¢s freedom to ponder different options and directionsâ⬠(Murray, 2002, p. 24). If the company obliged me to return there to sign the contract ASAP or if my mom pressured into deciding ASAP, I would not have thought clearly, I would not have gotten the chance to evaluate all the possible options that I have and would not get to pick the best alternative as well (Murray, 2002, p. 24). This also made me realize the difference between intelligence and creativity. Intelligence may be innate, it may be there when you need it; it may also be acquired through a good education. Intelligence is stored and may just be retrieved if necessary. Creativity on the hand may also be innate and may also be acquired; but it is different in such a way that unlike intelligence it cannot just be retrieved and utilized. There are other factors to consider for instance ââ¬Å"time pressureâ⬠, this may get in the way of creativity (Ordonez et. al. , 1997, pp. 121 140). One may be intelligent but one cannot be too creative especially if he or she is under time pressure; in fact it has been concluded in a certain study that ââ¬Å"â⬠¦if one is crunched the less likely he or she will be able to solve a tricky problemâ⬠(Murray, 2002, p. 24). References Harris, R. (2002). Creative Thinking Techniques. Retrieved November 14, 2008 from http://www. virtualsalt. com/crebook2. htm Murray, B. (2002). A Ticking Clock Means a Creativity Drop. Retrieved November 14, 2008 from http://www. apa. org/monitor/nov02/tickingclock. html Ordonez, L Benson, L. (1997). Decision under Time Pressure: How Time Constraints Affects Risky Decision Making. Organizational Behavior and Human Decision Processes (71) 2, 121 ââ¬â 140.
Thursday, November 14, 2019
Essay examples --
Introduction The development of the internet has led to various milestones in the world of marketing. It has made it possible for people to defeat the challenge of physical distance. This idea is very useful for business people who are in the field of marketing their products. Cambria et al (2011) observes that there have been increased costs as far as the traditional advertisement is concerned. In addition, traditional ads only reach a limited number of people. In cases where such advertisements are made in international media stations such as the CNN, huge costs are involved. Internet marketing has come to resolve this challenge once and for all. For people or businesses that may not have the money to advertise in the traditional media such as the television and newspapers, social media is the best place to go. With the advent of hand held devices such as the smart phones and tablet computers, it is very easy to take pictures or photographs and actually share them with the world at the comfort of oneââ¬â¢s home. This paper is focused on the whole idea of social media marketing and how photographers can optimize the opportunities that come with it. It will also address the advantages that make social networking sites more attractive than the traditional media. Social networking sites offer photographers with cheap, effective and robust chance to display their work to people across the entire globe; a property that the traditional media offers at a very high expense. Social Media Marketing ââ¬Å"Socialâ⬠media is distinct from traditional media. The former includes virtual places where people ââ¬Å"meetâ⬠to share experiences. In this view, internet is the most impressive human discovery that ever exists. Through the support of internet, it has b... ...tional advertising. It reaches more people; it is cheap, convenient, flexible and effective. However, one condition must be fulfilled: the photographer must be ready to invest time in it. In other words, one should be active online. If more than two social media platforms are involved, this could mean that the person spends up to 6 hours in a day just promoting the product. Moreover, the effort is worth it. Strategic social media marketing could yield better results, in many cases, than the prospects if traditional advertising. Significantly, while traditional media advertisements are short-lived, social media platforms could stay as long as the post, discussion or article or is visible online. In the final analysis, photographers should be enthusiastic about the opportunity that social media and the internet provide as far as marketing of photographs is concerned.
Tuesday, November 12, 2019
Identity: Wild Cat Falling by Colin Johnson, Pleasantville (1998)
Who am I? The question sounds cliche, but letââ¬â¢s be serious. Donââ¬â¢t you believe there is something inside you that you canââ¬â¢t describe, but seems to say, ââ¬Å"This isnââ¬â¢t who I am, or who I planned to beâ⬠. The texts I have read emphasise the belief that socialization creates a mask, a false identity concealing the self and who we are to be. However, it is widely believed that identity is a product of socialization- that the self changes through our individual experiences. The persona of WCF is a victim of these processes. CJââ¬â¢s use of shifting temporal frames allows us to review the personaââ¬â¢s past whilst retaining the present, demonstrating the impact of his childhood experiences on his identity. Jesse Duggan was an influential figure in protagonistââ¬â¢s formative years; her fear of the western culture lead her to condition her son into white society: ââ¬Å"they belong to the white side of the fence. Youââ¬â¢ve got to prove you do and donââ¬â¢t you forget itâ⬠. She isolates him from his traditional culture and instils in him the stigmas of the lesser breed. The personaââ¬â¢s frequent self derogatory remarks about being ââ¬Å"a mongrelâ⬠and ââ¬Å"born under the curse of Hamâ⬠indicate how societyââ¬â¢s treatment of ââ¬ËNoongarsââ¬â¢ has affected him. Socialization has isolated the protagonist, denying him his cultural identity and stifling his hopes. Throughout, the persona also remains anonymous, insinuating that his identity is amorphous. Yet we clearly see his mask; ââ¬Å"I took a long look at him and sneered back in my best Hollywood crim voiceâ⬠. His tone is satirical, as if he knows, his ââ¬Ëcrimââ¬â¢ act is not a true reflection of his identity. And in spite of this mask, his ââ¬Ëcoreââ¬â¢ identity can also be seen: ââ¬Å"I stood on the bed, face pressed to the bars, gulping the salt-sea tang until I became part of its crashing surf and soundless depths. â⬠His mask hides his true nature, nonetheless it is revealed through his poetic sensibility. Eliotââ¬â¢s 1911 poem ââ¬ËPrufrockââ¬â¢ is a dramatic monologue of a middle-class English-man. For him, socialization demands his conformity to social norms, making him feel imprisoned by its mediocrity: ââ¬Å"for I have known them all already, known them all; have known the evenings, mornings, afternoonsâ⬠. The repetition of ââ¬Ëknown them allââ¬â¢ portrays life as routine without purpose. ââ¬Å"my morning coat, my collar mounting firmly to the chin; my necktie rich and modestâ⬠the detail of his dress elaborately conceals his identity and his true feelings about society. Ironically, the repetition of ââ¬Ëmyââ¬â¢ implies an illumination of identity, rather than its suppression. It seems the Prufrock is afraid reveal his identity may ââ¬Ëdisturb the universeââ¬â¢: ââ¬Å"do I dare, and, do I dare? Avoiding this ultimate question, he seeks peace in oblivion: I should have been a pair of ragged claws; scuttling across the floors of silent seasâ⬠. We are gregarious creatures, and Prufrockââ¬â¢s desire for isolation is untenable to us. Socialization has trapped him in a rock and a hard place: he may choose the peaceful oblivion of a void anyday, but he is too scared to reject a mask that he despises in case it may change his world: oh the irony! The 1998 film Pleasantville explores the effects of stepping out of a uniform society. they just happen to see something inside themselves thatââ¬â¢s differentâ⬠. This shot is taken from below, establishing this as a powerful argument and putting David in a position of power over the crowd. He is persuading Pleasantville that embracing your core values defines you as unique; special. He also ââ¬Ëcoloursââ¬â¢ George Parker, by revealing to him his intrinsic values: ââ¬Å"donââ¬â¢t you think she looks just as beautiful as the first day you met her? Now donââ¬â¢t you wish you could tell her that? The proxemics in this shot exaggerates Davidââ¬â¢s emotions and influences his fatherââ¬â¢s reaction. A shot of David is taken from the courtââ¬â¢s POV, which allows for tension to rise before he moves to the side to reveal his ââ¬Ëcolouredââ¬â¢ father. The diagetic tone of shocked voices, coupled with the non-diagetic, soft music that swells at this new revelation, is us ed to highlight the importance of this scene as unearthing your inner self. It seems to say: this is the moment of epiphany, the moment when you discover this universe holds something wonderful and rare, just for you. In Davidââ¬â¢s own words ââ¬Å"if you just have the gutsâ⬠to look inside yourself, youââ¬â¢ll find all that ââ¬Å"who am I to beâ⬠crap alot easier to handle. WCFââ¬â¢s persona began to confront that ââ¬Ësongââ¬â¢ or ââ¬Ëdreamââ¬â¢ that had always been with him. Prufrock decided heââ¬â¢d rather drown than face the vast emptiness of his identity. But by giving Pleasantville the choice of change, it instituted profound normative values in people: love, passion, knowledge, peace, expression. All the colours of the rainbow. Though the belief that socialization morphs a person into who they are is predominant in society, it is hard to say that this is truly the case. These texts seem to emphasise the belief that socialization creates masks to conceal our core identities. Of course, socialization can shape us. Would a beggar have the same choices as a rich man? From my perspective, socialization may have us prepare that ââ¬Å"face to meet the faces that you meetâ⬠but it may never alter our core identity, which is inevitably revealed when we confront our true emotions.
Saturday, November 9, 2019
Malcolm X and Martin Luther King Jr. Essay
Both Martin Luther King Jr. and Malcom Little, better known as Malcolm X were major figures in the civil rights movement in the United States. Despite fighting for the same cause, which is to see that all individuals in the United States are indeed equal regardless of race, both men take a different approach in furthering the cause. They both decried the injustice committed against the black people by the whites and wanted to see it come to an end. It was for this reason that the civil rights movement gained momentum in the 1960ââ¬â¢s. The most obvious difference is the stance they took in pursuing their goal. Little, who became Malcolm X after converting to Islam, puts emphasis on self-empowerment among the black people, as well as other racial groups in the US for that matter; that they should use any means necessary to win their freedom and equality if society would continue to marginalize them. In trying to understand why Malcolm X was rather militant in his appraoch to the point of being ââ¬Å"nationalistic,â⬠one has to understand that he was born and raised in a ghetto where life was rough which resulted in the murder of his father and his mother committed to a mental institution. In as much as he deplored the racists, he also deplored whites who pretended to sympathize with them and pay lip service to their support of their cause. It is for this reason why he wanted thje blacks to empower themselves because he felt nobody will do it for them (Breitman, 1965, p. 26). King was brought up in a well-to-do family in spite of their race and he ââ¬Å"borrowedâ⬠the approach taken by Mahatma Gandhi of nonviolent resistance as the means to accomplish their goal owing to his avocation as a minister who eschewed violence. King agreed with Gandhiââ¬â¢s principle that the oppressors need to see the evil they are committing to make them stop; for to fight back would make them further justify their actions. If Malcolm X were to have his way, he could have dragged America to another civil war, especially if he intended to use Islam as a vehicle to advance his cause, whereas King used a combination of Christian faith and Gandhiââ¬â¢s teachings which is compatible to the former (Vander Lei & Miller, 1999, pp. 84-85). Both men were assassinated for they were seen as a threat by their opponents. In the end, the civil rights movement was successful when the government passed a series of laws that once and for all ended segregation. The impact was not immediate and its effect was felt gradually through the passage of time and the proof that it was successful was evident with the election of Barack Obama as President of the United States. And if one were to ask who would get the credit, the most likely answer would be Martin Luther King Jr. and his Gandhi-
Thursday, November 7, 2019
Affirmative Action Essays (1286 words) - Social Inequality
Affirmative Action Essays (1286 words) - Social Inequality Affirmative Action ?The state shall not discriminate, or grant preferential treatment to any individual or group on the basis of race, sex, color, ethnicity, or national origin in the operation of public employment, public education, or public contracting.? The previous statement is the unedited text of the operative part of Proposition 209, the California Civil Rights Initiative (CCRI), that passed November fifth by a percentage of 54 to 46. Though the initiative does not actually mention affirmative action, Californians feel affirmative action may be coming to an end. Will the decision of Proposition 209 have a great impact on colleges and universities? We will soon find out. We do know that affirmative action in colleges and universities has a long history of controversy sparked by the 1978 Bakke case and seems to be far from over with the recent vote on proposition 209. The Supreme Court?s 1978 decision in the Regents of the University of California v. Bakke has been the basis for most college affirmative action programs. The case involved a white man, Allen Bakke, who applied for admission to, and was rejected by California University at Davis Medical School in 1973 and 1974. The university had an affirmative action program to accept sixteen Black, Hispanic, and Asian students for every 100 entering. Allen Bakke objected when he found out that he had been turned down while minorities students with lower college grades and MCAT scores had been admitted under the university?s affirmative action program. The court then had been divided between four justices in favor of admitting Bakke on the basis that the quota affirmative Maloney 2 action plan had violated Title Four of the 1964 Civil Rights Act, four Justices against admitting Bakke, and Justice Powell, the swing vote. Justice Powell declared that Allen Bakke would be admitted to the medical school because the University of California?s affirmative action plan had violated the Equal Protection Clause of the Fourteenth Amendment. In Justice Powells opinion, the Fourteenth Amendment must be interpreted to protect everyone (McWhirter). The Bakke decision has sparked many anti-affirmative action movements, the latest being Proposition 209. Backing the California Civil Rights Initiative, proponents feel it is time to end race and sex-based quotas, preferences and set-asides now governing state employment, contracts and education. Launching a two million dollar television campaign to support the ballot measure, Robert Dole and the Republican Party made proposition 209 the centerpiece in their push for California?s 54 electoral votes (Lesher). Bob Dole states, ?If affirmative action means quotas, set- asides and other preferences that favor individuals simply because they happen to belong to certain groups, that?s were I draw the line? (qtd. in ?What They?re Saying About Quotas and the California Civil Rights Initiative?). Agreeing with Dole, Governor Pete Wilson states that ?Mandating and practicing inequality cannot bring equality? (qtd. in ?What They?re Saying About Quotas and the California Civil Rights ! Initiative?). Another defender of proposition 209 and affirmative action is House Speaker Newt Gingrich. In a interview with Gingrich, he boldly states that ?people who want some kind of quota based on racial background should be forced to debate in public their version of America. I would make clear that I oppose Maloney 3 quotas explicitly because I favor an integrated America? (qtd. in ?What They?re Saying About Quotas and the California Civil Rights Initiative?). United States Senator, Phil Gramm, also opposes affirmative action resolutely declaring that ?if I become President, quotas and set-asides are finished in America? (qtd. in ?What They?re Saying About Quotas and the California Civil Rights Initiative?). Opposing the measure, California college students and other affirmative action supporters protest to sustain variety and diversity. The first incident occurred when 500 students from University of California Berkeley met on Sprous Hall steps, the evening after the election and seized the Campanile clock tower. Some students chained themselves inside. The same day as the as the Berkeley incident, 300 students from the University of California Santa Cruz surrounded and picketed the Student Service Building, effectively closing the financial aid and registrar?s office. Police made no arrests. On November seventh, 100 students from San Francisco State caused a commotion by blocking 19th Avenue, a main thoroughfare (WALLACE and MARCUM ).
Tuesday, November 5, 2019
Heinkel He 280 Fighter in World War II
Heinkel He 280 Fighter in World War II The Heinkel He 280 was the worlds first true jet fighter. Developed by Ernst Heinkel, the aircraft built upon his earlier successes with the civilian He 178. First flying in 1941, the He 280 proved superior to the piston-engine fighters then in use by the Luftwaffe. Despite this success, Heinkel had difficulty gaining official support for the aircraft until late 1942. Plagued by engine issues, the He 280s development was eventually halted in favor of the Messerschmitt Me 262. The He 280 represents a missed opportunity for the Luftwaffe as it could have been operational a year earlier than the more famous Messerschmitt and aided Germany in maintaining air superiority over Europe. Design In 1939, Ernst Heinkel began the jet age with the first successful flight of the He 178. Flown by Erich Warsitz, the He 178 was powered by a turbojet engine designed by Hans von Ohain. Long interested in high-speed flight, Heinkel presented the He 178 to the Reichsluftfahrtministerium (Reich Air Ministry, RLM) for further evaluation. Demonstrating the aircraft for RLM leaders Ernst Udet and Erhard Milch, Heinkel was disappointed when neither showed much interest. Little support could be found from RLMs superiors as Hermann GÃ ¶ring preferred to endorse piston-engine fighters of proven design. Undeterred, Heinkel began moving forward with a purpose-built fighter that would incorporate the He 178s jet technology. Beginning in late 1939, the project was designated He 180. The initial result was a traditional looking aircraft with two engines mounted in nacelles under the wings. Like many Heinkel designs the He 180 featured elliptically-shaped wings and a dihedral tailplane with twin fins and rudders. Other features of the design included a tricycle landing gear configuration and the worlds first ejection seat. Designed by a team led by Robert Lusser, the He 180 prototype was complete by summer 1940. Aircraft designer Ernst Heinkel. Bundesarchiv, Bild 183-B21019 / CC-BY-SA 3.0 Development While Lussers team was making progress, engineers at Heinkel were encountering problems with the Heinkel HeS 8 engine which was intended to power the fighter. As a result, initial work with the prototype was limited to unpowered, glide tests which began on September 22, 1940. It was not until March 30, 1941, that test pilot Fritz Schfer took the aircraft up under its own power. Re-designated the He 280, the new fighter was demonstrated for Udet on April 5, but, as with the He 178, it failed to earn his active support. In another attempt to earn RLMs blessing, Heinkel organized a competition flight between the He 280 and a piston-engine Focke-Wulf Fw 190. Flying an oval course, the He 280 completed four laps before the Fw 190 had finished three. Again rebuffed, Heinkel redesigned the airframe making it smaller and lighter. This worked well with the lower thrust jet engines then available. Working with limited funding, Heinkel continued to refine and improve its engine technology. On January 13, 1942, test pilot Helmut Schenk became the first to successfully use the ejection seat when he was forced to abandon his aircraft. RLM Support As designers struggled with the HeS 8 engine, other power plants, such as the V-1s Argus As 014 pulsejet were considered for the He 280. In 1942, a third version of the HeS 8 was developed and placed in the aircraft. On December 22, another demonstration was organized for RLM which featured a mock dog fight between the He 280 and the Fw 190. During the demonstration, the He 280 defeated the Fw 190, as well as showed impressive speed and maneuverability. Finally excited about the He 280s potential, RLM ordered 20 test aircraft, with a follow-on order for 300 production aircraft. Heinkel He 280 Specifications (He 280 V3):GeneralLength: 31 ft. 1 in.Wingspan: 40 ft.Height: 10 ft.Wing Area: 233 sq. ft.Empty Weight: 7,073 lbs.Loaded Weight: 9,416 lbs.Crew: 1PerformancePower Plant: 2 Ãâ" Heinkel HeS.8 turbojetRange: 230 milesMax Speed: 512 mphCeiling: 32,000 ft.ArmamentGuns: 3 x 20 mm MG 151/20 cannon Continuing Problems As Heinkel moved forward, problems continued to plague the HeS 8. As a result, the decision was made to abandon the engine in favor of the more advanced HeS 011. This led to delays in the He 280 program and Heinkel was forced to accept that another companies engines would need to be used. After assessing the BMW 003, the decision was made to use the Junkers Jumo 004 engine. Larger and heavier than the Heinkel engines, the Jumo drastically reduced the He 280s performance. The aircraft flew for the first time with the Jumo engines on March 16, 1943. With the reduced performance caused by the use of the Jumo engines, the He 280 was at a severe disadvantage to its primary competitor, the Messerschmitt Me 262. Several days later, on March 27, Milch ordered Heinkel to cancel the He 280 program and focus on bomber design and production. Angered by RLMs treatment of the He 280, Ernst Heinkel remained bitter about the project until his death in 1958. Only nine He 280s were ever built. A Lost Opportunity Had Udet and Milch seized upon the He 280s potential in 1941, the aircraft would have been in frontline service more than a year earlier than the Me 262. Equipped with three 30mm cannon and capable of 512 mph, the He 280 would have provided a bridge between the Fw 190 and Me 262, as well as would have permitted the Luftwaffe to maintain air superiority over Europe at a time when the Allies would have lacked a comparable aircraft. While engine issues plagued the He 280, this was a constant issue with early jet engine design in Germany. Messerschmitt Me 262. Photograph Courtesy of the US Air Force In most cases, government funding was lacking at the key early stages of development. Had Udet and Milch initially backed the aircraft, the engine problems most likely could have been rectified as part of an expanded jet engine program. Fortunately for the Allies, this was not the case and a new generation of piston-engine fighters, such as the North American P-51 Mustang and later versions of the Supermarine Spitfire, allowed them to take control of the skies from the Germans. The Luftwaffe would not field an effective jet fighter until the Me 262, which appeared in the wars final stages and was unable to significantly influence its outcome.
Sunday, November 3, 2019
Internal Control Failures Paper Essay Example | Topics and Well Written Essays - 1500 words
Internal Control Failures Paper - Essay Example It was found that most cases of internal control failures were caused by individuals external to the firm, management-level and non-management-level employees, attitude of employees towards ethics and fraud, and lack of strict reporting and double control measures within the organization (Chrorafas, 2000). The main problem was that top management did not support internal control procedures. In some quarters, this project was regarded with extreme wariness, but there also was caution about appearing to attack the idea of a conceptual framework overtly because the logic of seeking such a basis for decision making was difficult to assail. "The displacement and resettlement of the local population, of 192 World Bank projects displacing 2.5 million people between 1986 and 1993, dam and reservoir projects caused sixty-three percent of those displacements" (Macdonald 2001, p. 1011). This meant that although the issues were extremely contentious, the debates were conducted in a lower key tha n those over specific standards, and the subject rarely broke into the public prints because the media tended to view it as too esoteric for popular consumption. "A lack of regular monitoring limits the public's access to project information and impairs accountability" (Macdonald 2001, p. 1011). The... Therefore, in both the building and funding contexts, personal interests are given greater consideration than technological, ecological, or economic feasibility" (Macdonald 2001, p. 1011). The cause of the bank instability and the associated inefficiency is to be found in a specific characteristic of the financial intermediation activity: maturity transformation. The bank relies on fractional reserves. As consumers have random needs for liquidity, a financial intermediary can offer a liquidity insurance while holding in cash only a fraction of the amount deposited and investing part of the deposit in longer-term and relatively illiquid projects. This increases the welfare of depositors but it also causes instability. Project failures show the need to change policies and internal control procedures. "Bank involuntary resettlement policy requires resettlement plans to compensate relocatees, by either improving or restoring the economic base of those relocated" (Macdonald 2001, p. 1011) . This situation leads to shortage of funds and implementation of stricter financial policies. The financing of highly illiquid projects on the international markets relies on relatively short-term debt, and a run of creditors may lead a country into deep trouble even if it would otherwise have had no problems in servicing its debts (Chrorafas, 2000). "In addition, the Bank "bears special responsibility for resettlement issues in the preparation and appraisal of projects because this period before signing loans is when the Bank has maximum involvement and leverage" (Macdonald 2001, p. 1011). These failures influence internal control procedures and new internal policies. The difference is that the rules-of-conduct approach leads to relatively small and infrequent
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