Fall of teh House of Romanov essays

Fall of teh House of Romanov essays The Romanov family, a great and prestigious lineage, ruled over Russia from 1613 to 1917. Although it had, in the past, overcome all types of dilemmas, the Romanov family was to fall, at last, in 1917 with the resignation of Tsar Nicholas the Second. After the Russo-Japanese war of 1905, the Russian army was severely weakened and, as a result, the Russian government was forced to endure the restraints of a cautious foreign policy. As it was necessary for the Russian army to rebuild itself before Russia could again be considered as great a power as it had been, most of Russia's efforts had to concentrated within the country. For assistance in rebuilding its power, Russia received loans from France, which strengthened their alliance. After having been defeated in the Russo-Japanese war, Russia no longer had much influence in East Asia and therefore turned its efforts to the Balkan states where an unstable situation was developing with the weakening of the Habsburg monarchy and the Ottoman Empire. The Russian foreign minister, Aleksandr Petrovich Izvolsky, failed to consummate a deal with Austria over the control of Bosnia and Herzegovina. This resulted in Austria taking control of those two Balkan states; this national humiliation caused Ivolsky to resign. Because Russia had, for a long time, had a policy of protecting its Slavic brothers', the Assassination of Archduke Francis Ferdinand in June of 1914 and the ensuing demand by Austria of Serbia put Russia in a difficult situation. It could not very well back down to Austrian demands again (as it had in the Bosnia-Herzegovina affair), and yet to not give in would mean to set the two sets of alliances at odds (the Triple Entente against the Triple Alliance) and to put Europe at war. But, in accordance with the beliefs of the time, Russia decided in favour of the war in hopes that their power would be extended and solidified in the Bal ...

Is College Really Worth It Expert Cost-Benefit Analysis

Is College Really Worth It Expert Cost-Benefit Analysis SAT / ACT Prep Online Guides and Tips With tuition rising every year, more and more students are asking themselves, "Is college worth it?"Many people believe that getting a college education is an important part of becoming a successful adult. Others, however, find it difficult to justify the increasing investment necessary to earn a degree. There’s no one path that’s right for everyone, andit can be difficult to think critically about the decision to go to college when you’re feeling pressured one way or another. There’s no simple answer to this question, butthere is a rational way to think about whether college isthe right path for you. Just as with any investment, you want to think about the relationship between what you put into it (like money, time, and effort) and what you get out of it (like education, networking, and career opportunities). The more you get out of it ascompared to how much you put in, the better the investment. In this post, I'll go through all the potential benefits and drawbacks of pursuing a four-year bachelor's degree so you have all the information to decide for yourself whether college is worth it. A Bit of Background on the Value of a College Degree Before we get started, I want to fill you in on the how the worth of a college degree has changed over time. This way, you'll have a better framework for understanding whether a degree may (or may not) be worth it for you. Since the mid-20th century, the US population has becomeincreasingly educated - simply put, more people are getting bachelor's degrees. In this graph from the US Census Bureau, you can see how the percentage of people with BA degrees has increased from 4.6% in 1940 to 32% in 2015: US Census Bureau Graph There are many reasons why we've seen these educational attainment changes over time, including: The decline of manufacturing jobs, especially for unskilled workers. Employers seeking college graduates for positionsthat didn't previously require a bachelor's degree. Governmentsubsidies in higher education, making college more affordable (until costs rose to meet demand, thereby making college more expensive). Overall, there are a lot of financial and political factors thathave influenced this significant and prolonged shift in how people view college degrees: now, it's often considereddifficult to get awell-paying job (or any job, really) without a college education. That doesn't mean, however, that going to college is always the smart thing to do. It's a big decision, and it's one that warrants some critical thought. To help you think about whether college is worth it for you specifically, let's jump right into the good stuff: the possible investments you have to make to get a college education and the possible benefits you reap as a result. What You Put In: The Costs of College If you're thinking about pursuing a college degree, you'll have to make some sacrifices. The following factors are what I consider to be investments in a post-secondary education. The extent to which these investments affect you depends on your own unique situation, so I'll explainhow to think critically about theseissues in each section. Overall, the major investments you would have to make in a college education are money, time, and effort. Let's see exactly how these might affect whether college is a worthy investment. Money The amount of money that you invest in your education depends on so many factors: your specific school, your financial need, your academic strength, potential scholarship winnings, etc. In general, the less money you have to pay for school, the better aninvestment your education will be. However, even an expensive degree may be well worth it if it pays out in the long run (I'll talk more about that in a bit). Tuition is the most obvious cost associated with attending college, but you also have to worry about room, board, books, personal expenses, and transportation. For more information on all the nitty gritty details of educational expenses, check out our college costs guide. The financial investment you'll make in pursuing a bachelor's degree is perhaps the most important investmentto consider. The average US college grad leaves school with a pretty significant amount of debt - debt that's sometimes very difficult to overcome. There are ways to make your college education more affordable, but sometimes it's tough (or even impossible) to get those expenses down to a comfortable amount. There's nothing wrong with paying a lot for school or even having student debt - it's when those expenses become a burden that they become a problem. Time Most people take four years to complete a BA degree. Depending on your career goals, this may represent an opportunity cost - basically, you might be losing out on other valuable opportunities (to gain job experience, make money, or both) because you're spending these four years in school and out of the work force. A college education is definitely valuable to many employers, and it's correlated with higher earnings later on in life (I'll talk more about this soon). Butbuilding work experience in a particular field, in addition to building wealth, is also valuable - giving up on those opportunities is an investment (or a sacrifice) that you make in order to get a degree. Effort It’s easy to sleep in and skip classes once you have the freedom and independence of a college student. But you’re already investing time and money into your education, so it’s important to make the most of it while you’re there. Buildinga strongeducational background and making professional and personal connections (important benefits of getting a degree) doesn’t just happen - it takes work, and it can sometimes be stressful. It also may involve doing things you don't necessarily want to do, like taking required courses or completinguninteresting assignments. It's important to honestly consider these challenges (and whether you're up to them) before committing yourself to school, especially if it comes with a hefty price tag. What You Get in Return: The Benefits of College You might be feeling a bit iffy about pursuing a degree at this point, but don't stop reading just yet. There are so many potential benefits that come with a college education. The major benefits I see that come with a BA degree (although there canbe many more) are increased employment opportunities, higher income, networking opportunities, personal development, and learning experiences. Employment Opportunities Colleges and universities are recruiting hubs for many industries. When you study at a college or university, especially one that's well ranked, there are often opportunities tomeet with corporate employers who come directly to your school to hirestudents. There are alsointernship opportunities during summers for that could lead directly to full-time employment post-graduation. Employment opportunities offered through colleges and universities extend beyond the corporate world and into academia and professional fields.Any profession that requires a graduate degree (e.g. law, medicine, sometimes business) or is centered around research (basically any job in academia)requires a BA degree first and foremost. Higher Income On average, people with college degrees make more than people without college degrees. Even though you may sacrifice income opportunities in the short term by seeking a degree, you’ll likely end up making more in the long run. This is especially true for people who go into STEMfields. Employers may also assume you’re better qualified for higher-paying jobs if you have a degree. Some jobs may require a BA even if your degree isn’t related to what you’d be doing on the job. Networking Opportunities In a college or university setting, you’ll builda network of friends, but you’ll also developa network of acquaintances, instructors, staff, and alumni. With these networks, it’s a lot easier to get personal and professional help. These connections can serve youin many different ways, especially after you graduate. Here are some ways that a college or university network may come in handy: You move to a new city and need to find a roommate. You’re exploring a career change and want to chat with someone in a particular field. You need some professional guidance or a letter of reference. You’re looking for a new job. Harvard Business School estimates that 65-85% of jobs are obtained through networking- if nothing else, it's a huge help when it comes to getting your foot in the door. You don't even have to know very many people personally to benefit from a college or university network - alumni networks are a great example of this. Personal Development This benefit is a bit more subjective than some of the other ones I've mentioned so far, but I think it's just as important. People's experiences will definitely vary based on where they go to school andthe extent to which they participate in student life - in general, though, here are the ways you can expect to grow and develop on a personal level with a college education: Get exposure to diverse people and ideas. Meeting people with different backgrounds and perspectives results in greater open-mindedness and a more flexible worldview. One study showed that when people have BA degrees, they're more likely to believe that it'sâ€Å"very important to try to understand the reasoning behind others’ opinions." Meet long-term friends. You, of course, don’t have to be at college to make good friends. What’s special about a college environment, though, is that you’re living and working with hundreds or even thousandsof people who are around your age, probably for the first and only time in your life. It’s sometimes more difficult to make friends as you get older - a college is a prettygolden opportunity to meet people. Develop personal and professional interests. Manystudents head off to school with no idea what they want to do with their lives. College gives you a chance to try out different fields, especially if you attend a school with a flexible curriculum. Education Many schools(especially liberal arts colleges and universities) work to produce global citizens: well-rounded students who can be thoughtful and active participants in an increasingly globalized society. You can, of course, learn about things on your own, but college is really an ideal environment to do this - you have a structured learning environment, you're surrounded by intellectually curious peers, and you have access to experts in many fields. There’s a lot to learn out there besides what you’ve studied in high school, andcolleges offer courses on topics that you wouldn’t otherwise have access to. For example, you might want to explore world languages, niche humanities subjects, or specific and advanced STEM fields - all things that are difficult to study outside of a college campus. The thing I see as the biggest educational benefit to attending college is the access to professors, people who have dedicated their lives to research and teaching in a very specific field. Access to these faculty members is especially helpful for students who are considering an advanced degree. When College May Not Be Worth It If you have any desire to go to college, I strongly encourage you to consider it. Overall, I believe that a college degree comes with more benefits than drawbacks. Of course, there will be many exceptionsand individual differences - here, I'll go over some situations where getting a college degree may not be worth it. It's OK(important, even) to consider whether college makes sense for you, even if you've always assumed that you would go to college no matter what. If a DegreeWon't Lead to Professional Success College offers a lot of professional, personal, and intellectual benefits. Even if you’re not sure what you want to do after college, a degree will afford you some flexibility. But you don’t have to go to college in order to be successful - depending, of course, on what career options you’re considering (budding entrepreneurs, for example, may benefit more from real-world experience than from a college education). Some people argue that you can be just as successful with self-directed learning as you can be with a college degree. If you know you can graduate from high school and immediately start working towards your chosen career path, college might not be the best choice for you.Alternatively,if you’re interested in a career that requires trade or vocational school, it might be smarter to apply to those programs instead of applying to a four-year program. This way, you canwork toward building professional experienceearlier rather than later. If You Can't Afford It The total Cost of Attendance at private colleges can come to over $200,000. If you’re responsible for that entire cost and you’re not sure if you can recoup the investment post-graduation, a degree may not be worth it. If the expense is preventing you from looking into a college education, however, there are some options you should consider before making a decision: Not all schools charge $200,00 for a four-year degree. Many institutions are much less expensive (for example, public schools tend to offer subsidized tuition to state residents). There are many federal financial aid programs available for students attending almost any college or university in the US, and you only need to submit one (free) application. Learn more about the Pell Grant program and Perkins loans. If you're a high-achieving student, you might qualify for generous merit aid if you apply to particular schools. Learn more about colleges and universities that give great merit aid. If you think you might qualify for need-based financial aid, you can seek out schools that provide generous funding for lower-income students. Read more about schools with top need-based financial aidprograms. You can apply for scholarship awards, which are great sources of education funding for many students. Learn more about finding and winning local awards, and check outthe top scholarship programs for high school juniors and seniors. If money is the only thing holding you back from getting a degree, I urge you to check out these other funding options. You don’t have to be rich to go to college, and a degree doesn’t have to mean crippling expenses. To read more about paying for college, check out these guides: The four different kinds of financial aid How to pay for college: complete guide How to pay for college without your parents' help How to pay for college without loans If There Are Other ThingsYou Want to Do First (or If You're Unsure) College is a big commitment - if you want to pursue a degree full-time, you’ll be hitting the books for nine months out of the year. You may want to do other things with your time after you graduate from high school before heading off to college,like get professional experience, travel, or volunteer. The bottom line is that you can always postpone the college application process if you have other priorities or even if you want to take time to decide whether college is right for you. You don’t have to go to college right out of high school. Keep in mind that many schools allow you to defer acceptance. It might be easier to work through college applications when you have the support of a guidance counselor and when it's easy to ask teachers for letters of reference. Even if you decide to apply while you're in high school, it's possible to postpone attending the school of your choice for a year or two (or even forever, if you decide it's not right for you). Conclusion: Is College Worth It? Overall, college is a pretty good investment - many students who pursue a bachelor's degree end up reaping the benefits, whether they're financial, professional, or personal. But many others pursue a degree without spending some serious time thinking about whether it's a smart choice. You may feel thatyou should go to college if you want to be successful. AsI mentioned earlier in this post, there are many circumstances where a college degree doesn't exactly make professional, financial, or personal sense (at least not at this very moment). It's important that you know it's okay to postpone such a big decision if you remain unsure. If you do decide to take time to pursue an alternative path, remember that it's important to use your time wisely (else you're subject to the same types of opportunity costs that I mentioned earlier in the post). Building professional experience or engaging in self-directed learning are definitely not easy alternatives to a college education - they're just different. Whatever you decide to do - good luck! What's Next? One big part of the college application process is standardized testing. If you're researching whether college is a good choice for you, it may be helpful to learn more about whether these tests in any way predict future income.Some people even think that the ACT and the SAT have the power to predict success more broadly. If you're worried more about what the whole college application process will look like and you hope to plan around that, we've got you covered - check out our completetimeline for applying to college. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Contract Essay Example | Topics and Well Written Essays - 2000 words

Contract - Essay Example For example, in the case of Gibson v Manchester City Council7, the words â€Å"may be prepared to sell† constituted an invitation to treat and not a distinct offer. Indeed, the Gibson decision challenged the traditional view for formation of contractual agreement. In this case, Lord Denning asserted that when considering whether there is a binding contractual agreement, it could be argued that â€Å"there is no need to look for strict offer and acceptance. You should look at the correspondence as a whole and at the conduct of the parties and see therefore whether the parties have come to an agreement on everything that was material8†. However, there has been some uncertainty in this area of law as evidenced by the case of Carlil v Carbolic Smoke Ball Limited9. In this case, the defendant was the proprietor of a medical substance and placed and advert in the Pall Mall Gazette promising to pay $100 to anyone who used the carbolic smoke ball for two weeks and who for a limited time after contracted the flu virus. Carbolic Smoke Ball Limited argued that the advert did not constitute an offer but was rather an invitation to treat. The Court of Appeal rejected this argument and held that there was a legally enforceable contract. The advertisement constituted an offer to the whole world and was capable of amounting to an offer of a unilateral contract without the requirement for acceptance. The Carlil decision had far reaching implications for contract law, with some commentators arguing that there is no difference between an â€Å"invitation to treat† and a contractual â€Å"offer†10. However the facts of the current scenario indicate that Owen’s letter was a distinct offer to sell the car to Andrew for  £30,000 and the central issue in contention is whether Andrew accepted Owen’s offer to create a binding contract. Valid acceptance in law follows a

Square Essay Example | Topics and Well Written Essays - 1000 words

Square - Essay Example When Apple becomes the first to adopt this platform, it means Square will lose a lot of clients most so the technology oriented who are the majority in the current market place where convenience is the key determinant (Glover, Stephen and Douglas). The second need for Square Inc to adopt an e business platform is to enable it to extend into the non-US markets and this has to happen at the fastest rates. If this does not happen then the competitors like pay pal would snap the idea and use it to the disadvantage of Square. Square has therefore to be able to adopt the e business platform to catch up with the competition by being able to provide its customers with a variety of products, at affordable costs and with the convenience desired by most of the firms (Glover, Stephen and Douglas). Square will be able to integrate such operations through EMV in some countries and NFC in other countries. This would ensure that their operations are widened for diverse solutions in the vast financia l markets. Businesses face a lot of problems most so those that are involved on the online payment systems such problems range from the problems of uncertainty, the ever expanding global market, and the need for innovation. The largest problem is that which emanates from regulatory requirements. Uncertainty affects many business managers in the manner in which it would affects the operations of such businesses in the credit markets, global economy and how regulations would affect the operations of such businesses. Globalization affects the operations of Square due to the unpredictability of how different cultures would perceive their new products hence their penetration of the new markets (Glover, Stephen and Douglas). Before designing new products on the e business platform, such considerations costs the companies a lot of time in the manner they would conduct the same to get more customers while maintaining the ones they already have. This is because innovation and inventions are paramount most so in the volatile technology market. Square Inc faces a turbulent environment due to the existence of the competitors; this does not make the product design environment sleep because this would cost them from their competitors (Laudon, Kenneth and Carol). The business therefore tries to get the problem of innovation solved while still ensuring the control of the organization is in place. Without ensured control the hands of the law through enacted stiff regulations may also impact on the organization negatively. Regulations on energy, environment and financial policies are the most sensitive and require careful handling. As Square designs their new e business products they must ensure they operate under the regulations to avoid charges which are costly to businesses (Laudon, Kenneth and Carol). According to Harvard business review on business and the environment, the idea of business through the internet has changed how the customers interact with their providers and this has lead to the growth of e business. For companies like Square, e business is important because of several reasons. One is that e business leads to increase in the speed over which transactions are done. For example the time over which clients would do ordering is reduced since it can be done much quickly over such platforms since the internet covers a wide area network. For Square inc, e business would therefore mean better procurement and the

Payment Systems For E Commerce

Payment Systems For E Commerce The emergence of e-commerce has effectively created many new financial needs which in many cases cannot be fulfilled by traditional payment systems. By considering all of these aspects many organizations are exploring various types of electronic payment systems and digital currency and also various issues regarding these payment systems. Broadly electronic payment system is classified in to mainly into four categories: Online Credit card Payment system, Online Electronic Cash system, Electronic Cheque System and Smart Cards based Electronic payment system. Every system has its advantages and disadvantages for the customers and merchants. These systems have number of requirements: e.g. acceptability, convenience, security, cost, anonymity, control, and traceability. Hence, instead of focusing on the technological specifications of various e payment systems, the researchers have distinguished e payment system based on what is transmitting over the network; analyze the difference of eac h electronic payment systems based on their requirements, characteristics and assess the applicability of every system. I. INTRODUCTION Payment is the integral process in the mercantile process, electronic payment system is the integral part of the electronic commerce. Due to the emergence of electronic commerce has created new financial needs through which need for new payment systems has created while traditional payment system cannot be able to fulfill its needs. For example new payment systems are of the forms such as auctions between individual ¿Ã‚ ½s online results in searching for new payment systems that means peer to peer payment methods that allows individuals to make payments through their e-mails. By recognizing these needs all interested parties (i.e: government, business communities and financial service providers) are invading various types of electronic payment systems and issues regarding those payment systems and electronic currency. Some of the proposed systems are electronic type of the traditional payment system such as credit cards, cheques, while, others are based on the digital currency tech nology and have the potential for definitive impact on today ¿Ã‚ ½s financial and monetary system. While popular developers of electronic payment system predict fundamental changes in the financial sector because of the innovations in electronic payment system (Kalakota Ravi, 1996). Therefore in particular electronic commerce have many methods of payment systems, these methods of payment systems are developed to support the electronic commerce. A failure to take place these developments into the proper context is likely to result in undue focus on the various experimental initiatives to develop electronic forms of payment without a proper reflection on the broader implications for the existing payment system. The table below shows a steady increase in the annual growth of total U.S. e-commerce sales for the 2000-2009 periods. A. CONCEPT AND SIZE OF ELECTRONIC PAYMENT The payment systems that uses electronic distribution networks constitute a frequent system in the banking and business sector since 1960 ¿Ã‚ ½s, especially for the transfer of large amounts of money. In the four decades that have passed since their appearance, necessary technological developments have taken place, which on the one hand have expanded the possible technologies of electronic payment systems besides they have also created new social and business practice, which make the use of these systems necessary. These changes, naturally, have affected the definition of electronic payments, which is emerging depending on the needs of each period. In most general form, the word electronic payment comprised of any payment (transactions) to businesses, bank or public services from citizens or businesses, which are made through a telecommunications or electronic networks by using modern technology. It is obvious that based on this definition, the electronic payments that will be the objects of present result, is the payment that is executed by the payer by himself, whether the latter is a consumer or a business, without the intervention of the another natural person. Furthermore, these payments are made from distance, without the presence of the payer physically and naturally it does not include cash. By providing such definition for the electronic payment system, this make researches to include the information concerning the accounts of the parties involved in the transaction, and also technological means of transaction execution such as distribution channel etc. Size of Electronic Payments: Electronic payments can be made in different forms, based on these forms electronic commerce payments systems are categorized as Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Business (C2B) and Consumer-to-Consumer (C2C). Each of which has special characteristics that depend on the value of order. Danial, (2002) classified electronic payment systems as follows:  ¿Ã‚ ½ Micro Payment (less than $ 10) that is mainly conducted in C2C and B2C e-commerce.  ¿Ã‚ ½ Consumer Payment that has a value between $ 10 and $ 500. It is conducted mainly in B2C transactions.  ¿Ã‚ ½ Business Payment that has the value more than $ 500. It is conducted mainly in B2B e-commerce. B. CONVENTIONAL VS. ELECTRONIC PAYMENT SYSTEM To dig the depth of the electronic payment process, it is better to first understand the processing of traditional payment system. A traditional process of payment and settlement involves a buyer-to-seller transfer of cash or payment information (i.e., cheque and credit cards). The general settlement of payment process takes place in the financial processing network. A cash payment requires a buyer ¿Ã‚ ½s withdrawals form his/her bank account, a transfer of cash to the seller, and the seller ¿Ã‚ ½s deposit of payment to his/her account. Non-cash payment systems are settled by adjusting i.e. crediting and debiting the appropriate accounts between banks based on payment information conveyed via cheque or credit cards. Figure 1: Conventional/Traditional Payment System Figure is simplified diagram for both cash and non-cash transactions. As cash Transferred from the buyer ¿Ã‚ ½s bank to seller ¿Ã‚ ½s bank through face-to-face exchange in the market. If a buyer uses a non-cash form of payment, payment information instead of cash flows from the buyer to the seller, and payments are settled between affected banks, who notationally adjust accounts based on payment information. C. PROCESS OF ELECTRONIC PAYMENT SYSTEM Electronic payment system have been operating since 1960s and also expanding very rapidly as well as growth and complexity. After the development of traditional payment system new features such as Electronic Funds Transfer based payments methods came in to existence. It was the first electronic based payment system, which does not depend on intermediary of central processing. An electronic fund transfer is a financial application of EDI (Electronic Data Interchange), which transfers credit card numbers or electronic cheques via secured private transfer lines between banks and major corporations. To use EFT to clear payments and settle accounts, online payment services needs all the capabilities to process the order, accounts and receipts. But a landmark came in to direction with the development of digital currency. Use of electronic money and digital currency looks alike the paper money as a means of payment. Digital based currency system is having same advantages as of paper based c urrency system those are namely anonymity and convenience. As in other electronic payments systems (i.e. EFT based and intermediary based) here is also concern about the security in the electronic payment systems during the transactions and storage is also a main concern, although from the different perspective, for digital currency systems double spending, counterfeiting, and storage become critical issues whereas eavesdropping and the issue of liability (when charges are made without authorizations) is important for the notational funds transfer. Figure 2 shows digital currency based payment system. In this figure, it is shown that intermediary acts as an electronic bank, which converts outside money (e.g. Rupees or US $), into inside money (e.g. tokens or e-cash), which is circulated within online markets. However, as a private monetary system, digital currency has wide ranging impact on money and monetary system with implications extending far beyond more transactional efficiency. II. TYPES OF ELECTRONIC PAYMENT SYSTEMS With the rapid growth in the electronic commerce need for the payment systems are increased as that of e commerce by which dozens of payments systems are came in to existence and also they are already in practice. Grouping of these payments systems are made based upon the information being transferred online. Murthy (2002) explained six types of electronic payment systems: (1) PC-Banking (2) Credit Cards (3) Electronic Cheques (i-cheques) (4) Micro payment (5) Smart Cards and (6) E-Cash. Kalakota and Whinston (1996) identified three types of electronic payment systems: (1) Digital Token based electronic payment systems, (2) Smart Card based electronic payment system and (3) Credit based electronic payment systems. Dennis (2001) classified electronic payment system into two categories: (1) Electronic Cash and (2) Electronic Debit-Credit Card Systems. Thus, electronic payment system can be broadly divided into four general types (Anderson, 1998):  ¿Ã‚ ½ Online Credit Card Payment System  ¿Ã‚ ½ Electronic Cheque System  ¿Ã‚ ½ Electronic Cash System and  ¿Ã‚ ½ Smart Card based Electronic Payment System Online Credit Card Payment System: It seeks to extend the functionality of existing credit cards for use as online shopping payment tools. This payment system has been widely accepted by consumers and merchants throughout the world, and by far the most popular methods of payments especially in the retail markets (Laudon and Traver, 2002). These forms of payment systems are having many advantages, which were never available through the traditional payments methods. Some of the advantages of the online credit card payment systems are: privacy, integrity, compatibility, good transaction efficiency, acceptability, convenience, mobility, low financial risk and anonymity. Added to all these, to avoid the complexity associated with the digital cash or electronic-cheques, consumers and vendors are also looking at credit card payments on the internet as one of possible time-tested alternative. But, this payment system has raised several problems before the consumers and merchants. Online cred it card payment systems are also having many disadvantages lack of authentication, repudiation of charges and credit card frauds. It also seeks to address consumer fears about using credit card such as having to reveal credit information at multiple sites and repeatedly having to communicate sensitive information over the Internet. Basic process of Online credit card payment system is very simple as that of traditional payment systems. If consumers want to purchase a product or service, they simply send their credit card details to the service provider involved and the credit card organization will handle this payment like any other. This can be understood very easily with the format (Figure 3) of Credit Card Payment Form. Electronic Cheque Payment System: Electronic cheque fulfills the needs of many business organizations, which are previously exchanging paper based cheque based on the vendors, consumers and government. Working process of e-cheque is as same as that of the traditional cheque payment system. An account holder will issue the electronic cheque document which contains the information such as name of the account holder payee name, name of the financial institution, payer ¿Ã‚ ½s account number and the amount of payment on the cheque. Most of the information is in un coded form. Like a paper cheques e-cheques also bear the digital equivalent of signature: a computed number that authenticates the cheque from the owner of the account. Digital checking payment system seeks to extend the functionality of existing checking accounts for use as online shopping payment tools. Electronic cheque system has many advantages: (1) they do not require consumers to reveal account information to other indi viduals when setting an auction (2) they do not require consumers to continually send sensitive financial information over the web (3) they are less expensive than credit cards and (4) they are much faster than paper based traditional cheque. But, this system of payment also has several disadvantages. The disadvantage of electronic cheque system includes their relatively high fixed costs, their limited use only in virtual world and the fact that they can protect the users? anonymity. Therefore, it is not very suitable for the retail transactions by consumers, although useful for the government and B2B operations because the latter transactions do not require anonymity, and the amount of transactions is generally large enough to cover fixed processing cost. The process of electronic checking system can be described using (figure 4) the following steps. Step 1: a purchaser fills a purchase order form, attaches a payment advice (electronic cheque), signs it with his private key (using his signature hardware), attaches his public key certificate, encrypts it using his private key and sends it to the vendor. Step 2: the vendor decrypts the information using his private key, checks the purchaser ¿Ã‚ ½s certificates, signature and cheque, attaches his deposit slip, and endorses the deposit attaching his public key certificates. This is encrypted and sent to his bank. Step 3: the vendor ¿Ã‚ ½s bank checks the signatures and certificates and sends the cheque for clearance. The banks and clearing houses normally have a private secure data network. Step 4: when the cheque is cleared, the amount is credited to the vendor ¿Ã‚ ½s account and a credit advice is sent to him. Step 5: the purchaser gets a consolidated debit advice periodically. E-cheque provide a security rich Internet payment option for businesses and offer an easy entry into electronic commerce without a significant investment in new technologies or legal systems. Electronic Cash Payment System: Electronic payment system is new technology in the online payment systems which improve the features such as security and privacy because it combines computerized convenience. Its versatility opens up a host of new markets and applications. E-cash is an electronic or digital form of value storage and value exchange that have limited convertibility into other forms of value and require intermediaries to convert. E-cash presents some characteristics like storability, monetary value, interoperability, irretrievability, and security. // By using all these characteristics it makes electronic cash more attractive payment system on the internet (Online). Added to these, this payment system offers numerous advantages like privacy, good acceptability, authority, convenience, low transactions cost and good anonymity. But, this system of payment also has many disadvantages such as poor transaction efficiency, poor mobility, and high financial risk, as people are solely responsible for the lost or stolen. Gary and Perry (2002), just like real world currency counterpart, electronic cash is susceptible to forgery. It is possible, though increasingly difficult, to create and spend forged e-cash. E-Cash Structure: e-cash structure could be identified as a string of bits that represents certain values such as reference number and digital signature, which could be used for the security purpose to prevent forgery and criminal use (Wright, 2002). But, the structure proposed by Wright (2002) needs some extension to make e-cash more secure. Therefore, the present model (Figure 3.5) adds a digital watermark to e-cash structure to protect it from the illegal copy and forgery activities further, the model modified the structure of the reference number to support tractability as shown in the figure 5. The proposed e-cash structure is comparatively better than suggested by Wright (2002), because security issue is given importance of top most priority in the present model. But, still there are certain concerns to be addressed for an electronic cash system. For example, who has the right to issue electronic cash? Can every bank issue its own money? If so how do you prevent fraud? And who will monitor the banking operations to protect consumers? Many of these concepts relate to the legal and banking regulatory aspects. However all these issues are beyond the scope of the study and therefore, cannot be included here. But, these issues must be addressed before establishing a complete e-cash based payment system. Smart Cards based Electronic Payment System: Smart cards are receiving renewed attention as a mode of online payment. They are essentially credit card sized plastic cards with the memory chips and in some cases, with microprocessors embedded in them so as to serve as storage devices for much greater information than credit cards with inbuilt transaction processing capability. This card also contains some kinds of an encrypted key that is compared to a secret key contained on the user ¿Ã‚ ½s processor. Some smart cards have provision to allow users to enter a personal identification number (PIN) code. Smart cards have been in use for well over the two decades now and have been widespread mostly in Europe and Asian Countries. Owing to their considerable flexibility, they have been used for a wide range of functions like highway toll payment, as prepaid telephone cards and as stored value debit cards. However, with the recent emergence of e-commerce, these devices are increasingly being viewed as a particularly appropriate method to execute online payment system with considerably greater level of security than credit cards. Compared with traditional electronic cash system, smart cards based electronic payment systems do not need to maintain a large real time database. They also have advantages, such as anonymity, transfer payment between individual parties , and low transactional handling cost of files. Smart cards are also better protected from misuse than, say conventional credit cards, because the smart card information is encrypted. Currently, the two smart cards based electronic payment system- Mondex and Visa Cash are incompatible in the smart cards and card reader specification. Not knowing which smart card system will become market leader; banks around the world are unwilling to adopt either system, let alone other smart card system. Therefore, establishing a standard smart card system, or making different system interoperable with one another is critical success factors for smart card based payment system. Kalakota and Whinston (1996), classified smart cards based electronic payment system as (1) relationship based smart cards and electronic purses. Electronic purses, which may replace money, are also known as debit card. Further Diwan and Singh (2000) and Sharma and Diwan (2000), classified smart cards into four categories. These are: (1) memory cards: this card can be used to store password or pin number. Many telephone cards use these memory cards (2) shared key cards: it can store a private key such as those used in the public key cryptosystems. In this way, the user can plug in the card to a workstation and workstation can read the private key for encryption or decryption (3) signature carrying card: this card contains a set of pre generated random numbers. These numbers can be used to generate electronic cash (4) signature carrying cards: these cards carry a co-processor that can be used to generate large random numbers. These random numbers can then be used for the assignment as serial numbers for the electronic cash. III. CONCLUSION Technology created lives easier for human beings. It has decreases the work up to many extends such as distance space and even time. One of the technological innovation in the banking and financial sectors is the electronic payments. // By using electronic payments we can perform financial operations electronically, thus avoiding long lines and other hassles. Electronic Payments provides greater freedom to individuals in paying their licenses, taxes, fees, fines and purchases at unconventional locations and at whichever time of the day, 365 days of the year. On the basis of present study, first remark is that despite the existence of variety of e-commerce payment systems, credit cards are the most dominant payment system. This is consequences of advantageous characteristics, most importantly the long established networks and very wide user ¿Ã‚ ½s base. Second, alternative e-commerce payment systems are some countries are debit cards. In fact, like many other studies, present study also reveals that the smart card based e-commerce payment system is best and it is expected that in the future smart cards will eventually replace the other electronic payment systems. Third, given the limited users bases, e-cash is not a feasible payment option. Thus, there are number of factors which affect the usage of e-commerce payment systems. Among all these user base is most important. Added to this, success of e-commerce payment systems also depends on consumer preferences, ease of use, cost, industry agreement, authorization, security, authentication, non-refutability, accessibility and reliability and anonymity and public policy. IV. REFERENCES 1. Abrazhevich, D. (2002) ,Diary on Internet Payment Systems ¿Ã‚ ½, Proceedings of the British Conference on Human Computer Interaction, London, England. 2. Anderson, M.M. (1998),  ¿Ã‚ ½Electronic Cheque Architecture, Version 1.0.2 ¿Ã‚ ½, Financial Services Technology Consortium, September 3. Baddeley, M. (2004)  ¿Ã‚ ½Using E-Cash in the New Economy: An Electronic Analysis of Micropayment Systems ¿Ã‚ ½, Journal of Electronic Commerce Research, Vol. 5, No. 4, pp 239-253. 4. Bhatia, Varinder (2000), E-Commerce (Includes E-Business), New Delhi: Khanna Book Publishing Co. 5. Boly, J. P. et al., (1994),  ¿Ã‚ ½ The ESPRIT Project CAF ¿Ã‚ ½-High Security Digital Payment System ¿Ã‚ ½, ESORICS 94, Third European Symposium on Research in Computer Security, Brighton, LNCS 875, Spring- Verlage, Berlin, pp 217-230. accessed on http://www.zurich.ibm.ch/technology/Security/Sirene/Publ/ BBCM1_94cafeEsorics.ps.gz. 6. Cavarretta, F. and de Silva, J. (1995),  ¿Ã‚ ½Market Overview of the Payments Mechanisms for the Internet Commerce ¿Ã‚ ½, accessed on http://www.mba96.hbs.edu/fcavarretta/money.html. 7. Chakrabarti, Rajesh and Kardile, Vikas (2002), E-Commerce: The Asian Manager ¿Ã‚ ½s Handbook, New Delhi: Tata McGraw Hill. 8. Charkrabarthi, Rajesh et al (2002), The Asian Manager ¿Ã‚ ½s Handbook of E-Commerce, New Delhi: Tata McGraw Hill.) 9. Chaum, D. (1992),  ¿Ã‚ ½Achieving Electronic Privacy ¿Ã‚ ½, Scientific American, August,pp 96-101 accessed on http://www.digicash.support.nl/publish/sciam.html. 10. Danial, Amor (2002), E-Business (R) evolution, New York: Prentice Hall. 11. Dennis, Abrazhevich (2001),  ¿Ã‚ ½Classifications and Characteristics of Electronic Payment Systems ¿Ã‚ ½, Lecture Notes in Computer Science, Vol. 21, No. 5, pp. 81-90.

Lytton Strachey’s excerpt on Florence Nightingale Essay

Lytton Strachey’s excerpt depicts the popular misconceptions and the actual reality of who Florence Nightingale was. Strachey’s euphemism of calling Nightingale â€Å"the Lady with the Lamp† as opposed to the â€Å"agitations of her soul† portrays the idea that her reality was much more different than her false perceptions. Though he admires Nightingale with awe, he conveys his opinion by using dark and tainted diction – â€Å"morbid†, â€Å"Demon possessed her†. Though this might suggest into the thinking that Nightingale was evil and beyond human capabilities, it manifests that she was an extraordinary human with suffrages that make her a stronger individual. Strachey’s syntactical style enables the reader to dilute a clear view of Nightingale’s life. His creative tone in using rhetorical questions eradicates Nightingale’s courageous endeavor and capabilities. From lines 20 to 22, Strachey exhibits the truth that even when her sister had shown a â€Å"healthy pleasure† in tearing up her dolls, she should a â€Å"morbid one† sewing them back up. This idea seems particularly demonic and malevolent (the feeling she expresses while sewing her dolls) because she feels a sense of guilty enjoyment in fixing something that is not perfect. Her gratification is that of healing and â€Å"herself as matron moving about among the beds†. Continuously, these rhetorical questions delineate a fact and expound it further enhancing the reader to fully understand the structure of Nightingale’s motivations and drive. Another strategy that Strachey uses is the use of long and ornate sentences that are broken off by telegraphic ones. This technique enables the audience to feel an utmost sincere admiration for Nightingale (line 2 through 12). With the reader’s emotions at a peak, Strachey quickly halts your train of thought and hits you with a complete opposite idea. This makes the reader more vulnerable to what the author has to say because it catches them at their weakest moment (overflowing with sentiment). Strachey further commends in making Nightingale look like a legendary women who has undergone apotheosis causing the story to become an epic one. By living in the era of the Victorian age, Florence Nightingale’s story is an even more honorable one. This period came with the discrimination of women and their societal roles which intervened with Nightingale’s bourgeoisie  life. Opposing all the luxuries and dealing with the struggle pushed upon her makes her an immense figure in time. She fought for what she wanted: she opposed her family, the elite society, and the status quo that women didn’t work. With this, she possessed the energy to collect knowledge and achieve what she had â€Å"determined she would do in the end†: – gain her independence. Unlike the myths that casted Nightingale to a simple life, she â€Å"was not as facile fancy painted her†. She was a courageous woman who fought for what she believed in, even if it was morbid. In the last paragraph, Strachey defies a quote that her mother gives about Miss Nightingale. In this, she mockingly states that â€Å"We are ducks†¦ who have hatched a wild swan†. This quote, though given by Mrs. Nightingale, represents Florence Nightingale’s perception of her family (taken from the mother viewpoint). In reality she is blind that the idea that Florence has a different path to follow which involves helping the ill-fated humans. It is as if Mrs. Nightingale is embarrassed that she has done something with her life. In reality, Miss Nightingale is â€Å"an eagle†. She casts a brave, bold and independent shadow that wants to soar above the limitations of her family and social class. Florence Nightingale’s strive is marked with accomplishments and greatness because she surpassed all her obstacles, â€Å"held firm, and fought her way to victory†. This suffrage has made her stronger which is one of the reasons Strachey admires her. She did not get her life job on a silver platter; she worked for it, and passed through much hardship, making the prize the more rewarding. His via from the popular perceptions to reality permits the reader to comprehend the illusion and see that the reality was even superior and audacious; â€Å"in the real Miss Nightingale there was more than was interesting than in the legendary one†. Even his melancholic tone and diction towards Nightingale renders the stance that she was an amazing woman and worked her way out of the â€Å"tortures of regret and remorse† that were compelled deep inside her mind.

William Shakespeare s A Midsummer Night s Dream - 990 Words

The Importance and Different Symbols in William Shakespeare’s A Midsummer Night’s Dream Symbols help to play an important part in giving a deeper meaning to a story. William Shakespeare uses a variety of symbols in his play A Midsummer Night’s Dream and by using these symbols he offers some insight onto why certain events take place in the play. Symbols are sometimes hard to decipher but as the reader continues to read the symbol’s meaning might become more clear. Shakespeare uses a variety of symbols in A Midsummer Night’s Dream, but this paper will only discuss four of the major symbols. The moon is mentioned several times, which makes a major symbol in this play. It can represent madness or lunacy but it can also represent magic and enchantment. Hermia’s father Egeus says that â€Å"Thou hast by moonlight at her window sun with feigning voice verses of feigning love and stol’n the impression of her fantasy† (Ant. 1.1.31-33), Egeus speaking about Lysander saying that he has â€Å"bewitched† Hermia into loving him. This is the moon representing enchantment, Lysander sings his songs about love to Hermia at night, when the moon is out, and Egeus thinks that this is how Lysander has gotten Hermia to love him and not Demetrius whom her father wants her to marry. The moon is mentioned again when we learn about Oberon and Titania’s argument over the Indian boy, their argument has caused the moon to be pale with anger which cause things like flood, rains, and unexplained illnesses. ThisShow MoreRelatedWilliam Shakespeare s A Midsummer Night s Dream1339 Words   |  6 PagesHonors For A Midsummer Night s Dream By William Shakespeare 1. Title of the book - The title of the book is called A Midsummer Night s Dream by William Shakespeare. 2. Author s name - The author of the book A Midsummer Night s Dream is William Shakespeare. 3. The year the piece was written - A Midsummer Night s Dream by William Shakespeare was believed to have been written between 1590-1596. 4. Major Characters - There are three major characters in the book A Midsummer Night s Dream by WilliamRead MoreWilliam Shakespeare s A Midsummer Night s Dream1474 Words   |  6 Pagesinstance, one could look at the movies A Midsummer Night’s Dream and Shakespeare in Love. The latter follows the life of William Shakespeare himself, everything from his love affair with Viola de Lesseps to his creation of Romeo and Juliet. A Midsummer Night’s Dream, is one of the most famous plays of Shakespeare’s, revolving around the tumultuous relationships of four lovers, aided, and sometimes thwarted by the mischief of fairies. Although Shakespeare in Love outlines a few of the characteristicsRead MoreWilliam Shakespeare s A Midsummer Night s Dream1548 Words   |  7 Pagesspoken by Helena in Act 1 Scene 1 line 234, explains that it matters not what the eyes see but what the mind thinks it sees. In the play, A Midsummer Night s Dream, written by William Shakespeare, there are several instances where the act of seeing is being portrayed. The definition of vision is the ability to see, something you imagine or something you dream. This proves that even though one has the ability to see; the mind tends to interfere and sometimes presents a different picture. VariousRead MoreWilliam Shakespeare s A Midsummer Night s Dream867 Words   |  4 Pagesspecifically how they will benefit that other person, you’re in love.† In A Midsummer Night s Dream, William Shakespeare intertwined each individual characters. Through the concept of true love and presented to the audiences a twisted yet romantic love story. The love stories of Renaissance are richly colorful, so Shakespeare used multiple literary techniques to present to the readers a vivid image of true love. Shakespeare applied metaphor in the lines of Lysander. In Act 1, scene 1, Lysander saysRead MoreWilliam Shakespeare s A Midsummer Night s Dream1397 Words   |  6 PagesShakespeare’s comedies, like those of most Renaissance playwrights, involve love and its obstacles. Much of the comedy in A Midsummer Night’s Dream derives from the attempt of Lysander and Hermia to remain together while overcoming the adult authority figure who attempts to hinder the love of a young couple. The overcoming of an obstacle functions as a common motif in Renaissance comedy. The audience must wonder, however, whether Lysander and Hermia, as well as Demetrius and Helena, actually loveRead MoreWilliam Shakespeare s A Midsummer Night s Dream1207 Words   |  5 PagesWilliam Shakespeare’s A Midsummer Night’s Dream has been categorized as a comedy play because of all the characters being passionately in love to the point of being foolish. It’s a play all about love, and the characters that are in love are only young adults, so they are still naive when it comes to love. Their naivety and foolishness regarding love is what allows them to be taken advantage of by mischievous fairies when they all run away into the woods. By critiquing the love affairs and numerousRead MoreA Midsummer Night s Dream By William Shakespeare1882 Words   |  8 PagesWritten during the Elizabethan era where gender roles played an important part in society and relationships, A Midsummer Night’s Dream by William Shakespeare portrays the interaction between both sexes, and the women’s response to the expectation of such norms. Although the characters: Hippolyta, Hermia, Helena, and Titania, are portrayed as objects (both sexual and material) contingent upon their male lovers, they are also given empowerment . During the Elizabethan Era, and present throughout MNDRead MoreWilliam Shakespeare s A Midsummer Night s Dream1277 Words   |  6 Pagestogether. Nor will love ever be a controllable compulsion. Maybe we are fools for going into the perilous, eccentric universe of love; yet what fun would life be without it? William Shakespeare s play A Midsummer Night s Dream investigates the unconventional, unreasonable and unpredictable nature of love during his time. Shakespeare conveys this through the main plot of the play, which is composed of the relationships between three couples. The three couples show examples of three different types ofRead MoreWilliam Shakespeare s A Midsummer Night s Dream1442 Words   |  6 Pages William Shakespeare is estimated to have lived from 1564 to about 1616. He is often recognized as great English poet, actor, and playwright, and paved the way for many on all of those categories. Over that span he wrote many pieces that are still relevant today such as Romeo and Juliet, Hamlet, and Macbeth. I would like to take a deeper look into one on his pieces â€Å"A Midsummers Night’s Dream.† This piece is estimated to have first been preformed in about 1595 and then later published in 1600. ManyRead MoreWilliam Shakespeare s A Midsummer Night s Dream1014 Words   |  5 Pagesplay is heavily influenced by other people. A Midsummer Night’s Dream, written by William Shakespeare, is a very unique comedy in which love has a different definition with everyone in the play. The play portrays the adventures of four young lovers and a group called the mechanicals along with their interactions with woodland fairies and a duke and a duchess. This work is widely per formed around the world, and it’s no wonder, it s about the world s most popular pastime, falling in love. But as