Abolish the Penny essay

Abolishing the Penny: The biggest questions now days are,† Should the penny really be abolished and why is the penny still in route like its ten or five cents? † It's been our smallest-denomination coin for 150 years. But if people are leaving pennies at the cash register, is it time to get rid of them? In this essay I am going to argue why we should keep the penny and why people think the penny should stay in route with the rest of the coins. Also why or why not we should keep the penny and if we didn’t where would the penny go?What made me want to argue my opinion versus the Harvard professor of Economics Gregory Mankiw who believes that the penny should be abolished is because the penny helps a lot of people survive the long way. I felt like this was a much needed topic to talk about because some people who have money no matter if they are in the lower class through higher class living situations are acting like pennies don’t or won’t affect them i f it was to disappear. I still use pennies and collect them until I feel like it’s a lot of money to go cash them in; it’s a good way to save money too.Whether we use the penny on the regular like we use quarters, nickels, and dimes shouldn’t matter because it’s still being circulated in cash flow. . Most cash transactions involve the exchange of pennies, and this increases the time it takes to complete them. Also some people are saying that the penny should be abolished because it’s just taking up space in the currency flow. I don’t believe that the penny is taking up space because it works as if it was a quarter, nickel, or dime in some places. For example when you don’t have the needed change, you would turn to the penny. Some people say minting pennies is a waste of money. They say the penny has out lived its usefulness so we should retire it, but I believe the penny has more life in it still because people is the US still use it unlike Canada and few other states or countries. Gregory Mankiw points out, â€Å"When people start leaving a monetary unit at the cash register for the next customer, the unit is too small to be useful. † But some people just leave the pennies there because they don’t feel like waiting for the cashiers to count it out. Statistics show that the U. S. Mint produces about 7 billion pennies a year at a cost of $100 million dollars.Pennies are made of copper and zinc, two metals that have recently soared in price. Because of the high value of those metals, a penny is worth more melted down than as U. S. currency. â€Å"A simple way to retire the penny would be to round each cash transaction to the nearest nickel†, but why would you want to round to the nearest nickel, that’s spending more money though. I don’t believe that we should abolish the penny because it’s been around for so long, if we were to abolish the penny what would we use to break five, ten , or odd numbers of cents. It’s also illegal to melt pennies. Abolishing the penny would not save the government money.Without the penny, the U. S. Mint would produce more nickels. Due to soaring metal prices, the nickel costs almost 10 cents to produce. Spending more money to produce more nickels is no way to save money. In conclusion to my argument as well as my opinion versus the Harvard professor of Economics Gregory Mankiw who believes that the penny should be abolished, has been clearly stated that the penny should not be abolished for plenty of reasons and the penny should stay in circulation with the rest of the currency. My opinion still stands strong as to why we should keep the penny and what would happen if the penny was to disappear.

Australian Criminal Law Essay Example | Topics and Well Written Essays - 2500 words

Australian Criminal Law - Essay Example Whilst the law of homicide has evolved over time the incidence of homicide has remained relatively stable. The rate of homicide in Australia fluctuated from as low as 0.84 in 1941 to as high as 2.39 in 1988. Similarly, homicide in Australia between 1989/90 and 1998/99 revealed that over the last ten years the circumstances and characteristics of homicide in Australia have remained relatively unchanged. According to the latest figures derived from the National Homicide Monitoring Program (NHMP), there were 337 victims of homicide in 1999/2000, which are about two people for every 100,000 Australian residents (Mouzos 2001). In comparison to homicide in the United States, the rate is comparatively lower. In the United States about 6 for every 100,000 Americans are killed (US Department of Justice 2000) Homicide has many forms. Murder for gain, sexual and physical violence and abuse of women, and revenge are among the two most common reasons for homicide. While homicide has continued over the ages, the purpose of finding the reason has not changed much in comparison to the methods used to trace the cause. Like in all investigations, the investigators have to gather and analyse whatever information and clue they get before zeroing on the suspect. No person is guilty until proved so, and to bring the criminal to justice, the law must ascertain from reliable sources information, intelligence, leads, tips, and witness statements to build a positive case. This is however, a long process, as analysis of such large amounts of information using traditional research methods can take quite a long time, and using antiquated analysis methods has been said to impair or slow down an investigation. Access to information, and clues; be it positive or negative, can have an impact on the investigation, leading sometimes to the delayed arrest of the perpetrator (Travis, 1996), or in extreme cases, the arrest of an innocent person (Jenny Mouzos, p.2-5, 2001). Sexual and physical violence and abuse has remained a bane on society. Women find themselves fighting a losing battle, and against all odds, as they stand and try to fend for themselves against a pack of wolves. There have been thousands of cases that have gone unreported, and a couple of thousands more that remain unsolved. Most of the cases that remain unsolved are because of the non-cooperation of the victims to help the investigators in their duty. Social factors and fright are attributed to reasons for such misendeavour. So, does the criminal law need reform in order to protect women from sexual and physical violence and abuse 2.0 Report Many women in prisons experienced disadvantages such as poor education and literacy, very limited employment skills, inadequate housing, and

Case Studies in Environmental Hazards. Journal Search, Article

Case Studies in Environmental Hazards. Journal Search, Summaries and Annotated Bibliography - Article Example They talk about the dangerous effects of wildfires on a broad range of natural habitats. They indicate that wildfires have been found to be the main cause of flash floods and the flow of debris. They indicate that one of the main causes of the hydrological driven hazards that occur after the wildfires is the decreased rates of infiltration. Besides this reduction in the infiltration rate, it is also caused by the mounting evidence of the fundamental physics of infiltration. This concept is used for further explanation and to provide evidence on the presence of infiltration which enhances the hydraulic effects of wildfires. In this sense, the authors attempt to provide a solution for this in their article. In particular they provide solutions that help to solve the issue of hydrolic effects of wild fires. In this case, the article will be of great insight in this study as it will provide an in depth understanding on the handling and management of post wildfire hydrology caused by the increased rate of wildfires. Notably, the authors have also written on the differences that exist in fire affected soils. For instance, they have indicated that soil surface sealing by either ash or fine sediments contain measurable effects on post wild-fire runoff. They give an explanation by use of diagrams to explain four types of infiltration causing environmental hazard. From the above diagram, Type 1 is the â€Å"standard type† that has exponential decreasing infiltration rate with time. Type 2 is a linear decrease in infiltration rate with time. Type 3 contains an initial high soil-water repellency that at first results in a low infiltration rate but as soil wets, the rate of infiltration raises to maximum and afterwards declines exponentially with time. Type 4 is similar to type 3 only that the infiltration rate levels off eventually to a constant level due to macrospore flow. Karavitisa, A. Christos, Tsesmelis, E. Demetrios, Skondrasa, A. Nikolaos, Stamatakos,

Cost and Management Assignment Example | Topics and Well Written Essays - 2000 words

Cost and Management - Assignment Example ant, or a management accountant must â€Å"perform their professional duties in accordance with relevant laws, regulations, and technical standards (1996, 23).† Lis proposal clearly violates laws, regulations and technical standards by incorporating her personal assets in order to increase the companys assets, as well as making her employee shoulder temporarily a part of the expenses in order to increase the companys income. Aside from violating the standard of competence, Lis proposal also violates the standard of integrity, which according to Horngren, Bamber & Stratton, accountant should â€Å"refrain from engaging in any activity that would prejudice their ability to carry out their duties ethically [and to] refrain from engaging in or supporting any activity that would discredit the profession (1996, 23).† The philosophy behind accounting is to come up with reports that will show the performance of the company to people with vested interests to the company, such as the government, for the taxes, and the companys investors such as shareholders and creditors. With accounting, fair and accurate information is desired to be produced for the purpose of objectivity, another ethical standard for accounting. Only with objective information will people such as investors and creditors will put their trust on the company, investing on the company for the hope of gaining some return through competent management in the process. This will be violated with Lis proposal, as well. A. Using the Weighted Average method, prepare a production cost report (following the 4 steps outlined in the text) for the Strings department for October. Round to 4 decimal places for unit costs and to the nearest dollar in the production cost report. C. Assume that in order to remain competitive, the company undertook a major cost-cutting program during February. Would the effects of this cost-cutting program tend to show up more under the weighted average or under the FIFO method? Explain your

Finance and Management Essay Example | Topics and Well Written Essays - 3000 words

Finance and Management - Essay Example Finally, a decision is arrived at whether the firm can be financed two hundred thousand dollars. This Criterion must answer the following questions: What problem are you solving What is your business proposition for solving the problem Who are your customers Who are your competitors How viable is your business How do you make money Executive Summary is clear & effective as a stand-alone document. In the case, BBC is trying to solve the problem of customization of bicycle frames. There is no business proposition. The customers are mountain bike riders and racing professionals. BBC is a niche player and there is no information about its competitors. BBC makes money by selling Bicycle parts. In Joe's Case, the executive summary is a projection of sales without any explanation on what basis the projection is made. The problem is not clearly stated. From the executive summary, it is evident that Joe's specializes in providing high-quality fast food via company-owned portable carts in high-density urban office locations. The business proposition is clearly stated to provide high-quality fast food which is 100% natural. The customers are employees working in urban office locations. No information is provided about the competitors. ... The executive summary of BBC is very practical and workable. This is a favorable one. The executive summary of Joe's is viable but the sales projections made have no basis. Still this is a favorable one. Product or Service Description This criterion must answer the following questions: What is the product or service What are its attributes Advantages and potential drawbacks Why/how is your product/service more compelling than existing ones or the competition What is the stage of development Do you have a proprietary position or intellectual property protection planned or in place Most successful companies start with just one product or service or a few, at most. Trying to do too much too fast and having to educate the consumer about a product's or service's benefits can push a company under before it's out of the blocks Analysis BBC is having a single product of manufacturing bicycle frames as per the requirements of the customer. The features of the product are light, stiff, responsive and race worthy. The great advantage of BBC is customization and this forms the most compelling reason for choosing BBC. Joe's Redhots sells premium-quality hot dogs and other ready-to-eat luncheon products to upscale business people in high-traffic urban locations. Joe's Redhots is positioned versus other luncheon street vendors as the "best place to have a quick lunch." The features of Joe's product include cleanest carts, the most hygienic servers, the purest, freshest, products, and the best values. Prices are at a slight premium to reflect this superior vending service. Joe's Redhots also is known for its fun and promotional personality, offering consumers something special every week for monetary savings and fun. Interpretation BBC is very clear in its

Globally relevant Essay Example | Topics and Well Written Essays - 1500 words

Globally relevant - Essay Example This results in no disarmament at all. Also, certain counties have threats from other countries. Such countries have, therefore, a national interest in having weapons. Countries that have weapons are facing a lot of pressure from other countries. The powerful countries of the world are co-operating the least in the movement against weapons. Such countries have the capacity to create weapons of mass destruction that include nuclear and biological weapons. However, poorer countries are also gaining access to such weapons. That is continuously giving chances to terrorists to strengthen themselves and create big disasters. Further, many countries allot a great portion of their budgets to making or acquiring of weapons. The same amount can also be spent on education, environment or other development projects, but it does not happen due to the requirement of a strong military. There is also very limited gun control in many countries which is why the percentage of gun violence related incid ents is very high. According to Stockholm International Peace Research Institute (SIPRI)’s recent trends summary, world military expenditure in 2010 was estimated to have reached $1.63 trillion at 2010 prices. This is almost 2.6 percent of world gross domestic product (GDP) or $236 for each person in the world. Out of the total military expenditure in the whole world, the expenditure by the US accounts for 41% of it. SIPRI also found out that the major portion of the total military expenditure in the world is made by large countries. 15 major countries of the world spend 81.8% of the total military expenditure. An important point is that the world faced a very bad economic depression in 2008 hence resulting in many countries cutting their spending in various sectors. However, the spending in the military sector is continuously on a rise. It does not seem to be justified but it has valid reasons. (GlobalIssues) Just before the time the depression arrived, it was not reasonably foreseeable. It could not have been expected that a crisis of such magnitude was about to hit. Many countries were happy with their economic growths and they had easy access to credit. They had their fixed or pre-planned foreign policy objectives, the knowledge of available resources were satisfactory, the peacekeeping operations were expected to go as normal and the policies were fixed. Countries like China and India saw a boom in the economies and they increased the spending on military. Also, the high prices of minerals and fossil fuels enabled quite a few countries to increase military expenditure. However, after the 2008 financial crisis had hit, military spending still appears to have increased. It has been observed by SIPRI that some nations like China and India did not face a financial crisis but continued to grow. As the financial crisis hit big countries like the US, the governments responded by employing expansionary fiscal policies according to which they increased the government expenditure. Among these expenditures which were made to counter the crisis, many new military projects were started too which is why there has been an increase in the total military spending. Most importantly, many countries have continued to put the strategic and geopolitical concerns above other matters. If these concerns demanded an increase in military expenditures, the governments did not hesitate to increase the spending despite dire economic straits. In contrast,

Epicurus and epictetus Essay Example | Topics and Well Written Essays - 1500 words

Epicurus and epictetus - Essay Example Essentially, these great scholars of philosophy had different consolation on the reasons for valuing and giving meaning to life (Pojman 530). Therefore, this essay will delve on two Greek philosophers, Epictetus and Epicurus, to try to understand their ideologies regarding the importance of living life without having to worry about the occurrence of death. 2. Epicurus According to ancient philosophy, Epicurus was an ancient philosopher that lived between two hundred and seventy one and three hundred and forty one B.C. He founded his school of philosophy in Athens where he spent most of his life. Epicurus was a philosopher who related the aspect of pleasure with good and the aspect of bad with pain concerning living. This concept became Hedonism, a Greek word meaning pleasure. For Epicurus, being sensuous and exalting life did not quantify for Epicureanism to form an opinion on the views of living. However, Epicurus was of the belief that a pleasurable life came from having calm emoti ons through the appreciation of honest but beautiful pleasantries of life. These pleasures include the good company of friends, a healthy diet, morally upright behavior, and good personal health. Epicurus insisted that people were not to worry about death, but only had to concern themselves with pleasure and pain (Pojman 531). Therefore, Epicurus believed that death was not a feeling hence advising people not to be fearful of death. Ideally, this Epicurus was an ardent believer in the doctrines of philosophy because to him philosophy was a constant factor in the life of any individual. Further, Epicurus felt that people needed to focus on the aspects of life that made them happy as part of living a fulfilled life. However, this Epicurus had a queer belief in matters related to God and other gods, but he acknowledged their existence. In essence, Epicurus believed that these higher deities received much accreditation for what they truly were not. For him, ill fate befell those that li ved wicked lives and blessings followed those that did well hence questioning the credibility of gods being the source of either blessings or curses. 2.2 Epicurus and his argument on death Arguably, Epicurus advised people to believe that death was nothing to them because it was a way of depriving human beings off sensation. In this regard, the understanding of death as nothing of concern influenced living life enjoyably because one lived without needing to be immortal. According to his philosophy, Epicurus encouraged people not to live in anticipation of the pain that would come together with death because this feeling would make them cower towards living. Epicurus pointed out that death did not form a part of people while they were still living but became a part of them once they seized existing. This meant that death was not a concern for the living because they did not believe in the existence of death while the dead could not associate with the same as they no longer existed. I n addition, Epicurus believed that a wise person needed not fear life nor death because life did not offend him neither did death appear evil. On the other hand, Epicurus punctured the belief that the young needed advice on how to live fulfilling lives while the aged needed advice on how to approach their sunset. Arguably, Epicurus reiterated that everyone had a deep desire to continue to live irrespective of his or her age because the