Structural and Interest Based Theories of Politics

Structural and Interest Based Theories of Politics What are the main differences between structural and interest-based explanations in comparative politics? Compare and discuss their features using empirical examples. At the heart of the field of comparative politics lie a variety of theoretical frameworks, each of which attempts to enhance our understanding of what is important in relation to explaining political phenomena. The aim of this essay is to examine and compare the features of the structural and interest-based approaches, through the use of empirical examples. As regards its structure, the essay will begin by providing a definition of the comparative method. Following on will be a brief discussion on its uses and a cost-benefit analysis of using such an approach. After all, it is the comparative method that will form the basis of the discussion to follow. The essay will subsequently identify the main differences between structural and interest-based explanations in comparative politics. Due to the lack of space, the ways in which they complement one another will be omitted. Finally, the essay will conclude by arguing that the main differences between structural and interest-based approa ches revolve around their explanations on the causes of political developments, and their focuses on the individual. In order to fully appreciate the main differences between the structural and interest-based explanations in comparative politics, it is first important to develop an understanding of the comparative method in its own right. Although widely used in the field of political science, the comparative method is far from straightforward to define. It is an abstract term to which various definitions have been applied over the years. According to the political scientist Arend Lijphart, the comparative method can be defined as the analysis of a small number of cases, entailing at least two observations, yet too few to permit the application of conventional statistical analysis. (Collier, 1993: 106) In practice, this refers to what is known as a small N analysis, within which there are two basic research designs: most similar systems design (MSSD), and most different systems design (MDSD). As a rule of thumb, the former, otherwise known as Mills Method of Difference, involves the use of less tha n 20 cases (states) that are as similar as possible. The logic behind this methodology is that the more homogeneous the cases under investigation, the easier it ought to be to pinpoint the factors accountable for the differences between them. Faure (1994) argues that the most similar systems design is the prevailing method (but not the only one) in comparative politics. (Faure, 1994: 310) By contrast, the latter, otherwise known as Mills Method of Similarity, involves the use of less than 20 cases that are as different as possible, the purpose of which is to communicate the vigorous nature of the correlation between dependent and independent variables. Such a method assumes that by proving that the observed correlations hold true in different domestic settings, the line of reasoning should be better corroborated. There are many uses of the comparative method. In addition to the case study approach, the experimental method, and the statistical method (Lijphart, 1971: 682), political scientists draw upon the comparative method to assist them in the devising of hypotheses (suggested explanations of something), the testing of hypotheses (which are proven or refuted), and the uncovering of empirical regularities and the identification of outliers' (Gherghina, 2017: 14). The comparative method is by no means faultless; though an analysis of its merits is required in order to demonstrate why it has stood the test of time in the field of political science. One of the main proponents of the comparative method, the aforementioned Arend Lijphart, deduces that given inevitable scarcity of time, energy, and financial resources, the intensive analysis of a few cases may be more promising than the superficial statistical analysis of many cases. (Collier, 1993: 107) His inference substantiates the argument that a detailed analysis of a small number of states is a more effective than a brief analysis of a large number of states as a result of various limitations already touched upon. However, that is not to say the comparative method is without its faults. Indeed, one of the inherent problems picked up on by academics is that of many variables, few cases (Lijphart, 1971: 685). Now that we have developed an understanding of the comparative method, it is possible to observe the ways in which structural and interest-based explanations differ. It can be argued that one of the main differences between structural and interest-based explanations in comparative politics is in relation to the causes of political developments. The crux of the formers argument revolves around the idea that macro factors in other words, factors that are observable at the level of society or variables to put it more simply, factors that are liable to vary or change are the ultimate causes of political events. The most prevalent macro factors or variables employed in the structural approach include a countrys level of economic development, social inequality, educational inequality, life expectancy, degree of urbanisation, ethnic fractionalisation that is, the quantity and size of ethnic groups within a society), and religious composition. (Gherghina, 2017: 10) To demonstrate the structural approach in practice, we can apply the example of the modernisation theory. Broadly speaking, the modernisation theory associated with the work of the polit ical sociologist Seymour Martin Lipset argues that democratisation is the result of modernisation. Modernisation incorporates many of the variables already touched upon, including urbanisation. In laymans terms, the more modern a society becomes, the more likely a society is to become democratic. This is the case because these changes enable middle-class elites to mobilise the working class to press for political rights for all (Gherghina, 2017: 11). From the 18th century onwards Lipset carried out an analysis of several countries, from which he was able to conclude that this does indeed hold true. Among the countries that followed the theory proposed by Lipset were the United Kingdom during the Industrial Revolution of the 19th century, and, more recently, Taiwan in the 20th century. This vividly illustrates the extent to which the structural approach can be useful with regards to explaining political developments and their causes, albeit it does not take into account its visible shortcomings. Nonetheless, by putting into practice the example, it is abundantly clear that the structural approach considers the causes of political developments to be disconnected from the dynamic of the political process. That, in stark contrast, to the interest-based approach in which individual decisions on the basis of seeking to maximise self-interest (Hague et al, 2016: 76) are seen to account for political developments. It is worth stressing that interest-based explanations do not only refer to financial optimisation, but also to a plethora of valued entities, such as authority and the accomplishment of ideological objectives. To illustrate the interest-based approach in practice, we can apply the example of political scientist William Rikers minimal winning coalition theory. It holds that in the aftermath of a general election in which no single party has been able to form a majority government, party leaders will seek to fulfil two criteria. First, they will seek to seek to form a coalition with parties that are ideologically similar to them on the political spectrum. Second, they will do so in such a way so as not to involve more politicians than is necessary to secure a parliamentary majority. This is evidenced by the 2010 UK general election. As Figure 1 vividly illustrates, the Conservatives, under the leadership of David Cameron, fell 19 seats short of a majority. As a result, they followed the aforementioned criteria to decide which party they wished to go into coalition with. Based on the first set of criteria, Cameron opted to go into coalition with Nick Cleggs Liberal Democrats as opposed to Gor don Browns Labour, in light of the fact that that the formers ideals were more closely aligned with those of their own than the latters, as Figure 2 (YouGov, 2014) makes abundantly clear. In addition, based on the second set of criteria, the Conservatives chose the Liberal Democrats as their coalition partners by taking into account the fact that the latter won over 200 fewer seats than Labour (see Figure 1), thus making it less likely that disagreements over the implementation of policies, for example would ensue in government. Hence, at the core of interest-based explanations is the idea that individuals perceived self-interest is the driving force behind political decisions and, on the whole, political developments are the result of such individual decisions. Furthermore, the structural and interest-based explanations can be contrasted in terms of their focus. According to Mahoney, at the core of structuralism is the concern with objective relationships between groups and societies. (Hague et al, 2016: 83) By contrast, the latter is focused on people. (Hague et al, 2016: 84) Thus, the latter focuses on the individual, whereas the former pays attention to networks. To summarise, this essay has examined the main differences between structural and interest-based explanations in comparative politics, through the use of empirical examples, and concluded that the grounds on which they differ are multitudinous. However, one of the main differences is in relation to how they explain the causes of political developments. Whereas structural explanations conclude that factors external to political life, such as life expectancy, are seen to account for political developments, interest-based explanations adopt the perspective that political developments are shaped by individual decisions, on the basis of what is best for them at a particular point in time. In that sense, another of the main differences between structural and interest-based approaches is that the former places a lot of emphasis on networks unlike the latter where the entirety of its focus lies with the individual. Bibliography BBC News Website (2010) Election 2010 Results http://news.bbc.co.uk/1/shared/election2010/results/default.stm [accessed 26th February 2017] Collier, David (1993) The Comparative Method in Finifter, Ada W.; and American Political Science Association Political Science; the state of the discipline II Washington DC: American Political Science Association Faure, Andrew (1994) Some Methodological Problems in Comparative Politics Journal of Theoretical Politics Vol. 6 No. 3 pp. 307-322 Gherghina, Sergiu (2017) The Comparative Method in Introduction to Comparative Politics Gherghina, Sergiu (2017) Theoretical Frameworks in Comparative Politics in Introduction to Comparative Politics Hague, Rod; Harrop, Martin; and McCormack, John (2016) Chapter 5: Theoretical Approaches in Comparative Government and Politics: An Introduction 10th Edition, Basingstoke: Palgrave Macmillan Lijphart, Arend (1971) Comparative Politics and the Comparative Method The American Political Science Review Vol. 65 No. 3 pp. 682-693 YouGov Website (2014) Britains Changing Political Spectrum https://yougov.co.uk/news/2014/07/23/britains-changing-political-spectrum/ [accessed 26th February 2017]   Ã‚   Appendices

Blades Corporation Essay

1. If Blades uses call options to hedge its yen payables, should it use the call option with the exercise price of $0.00756 or the call option with the exercise price of $0.00792? Describe the tradeoff. The corporation needs to purchase supplies with foreign currency. To hedge against the possible appreciation of the foreign currency’s value, the corporation can purchase a call option. Both options have to pay a premium for the option. The purchase price or exercise price of option A is $0.00756 plus a premium paid on this respective option of $.0001512 resulting in a total cost of $.0077112 per yen. The purchase or exercise price of option B is $0.00792 plus a premium paid of $.0001134 resulting in a total cost of $.0080334 per yen. Option A is the better option, relatively. Option B has a higher exercise price, though its exercise price is lower, the overall result is a higher amount paid for yen if the option is exercised. If the option is likely not to be exercised, option B is the best choice. The corporation would only have to pay the premium price and not the exercise price. In this case, option B’s premium price is lower. The trade off is between a lower exercise price, higher premium price, option A, that better hedges against the yen if it were to appreciate in value (exercising the option) and a higher exercise price, lower priced premium that reduces cost if the hedge does not appreciate in value (the option is not exercised). 2.Should Blades allow its yen position to be unhedged? Describe the tradeoff. The case stated that â€Å"the futures price on yen has historically exhibited a slight discount from the existing spot rate†. In this case, the exercise price of the option may be higher relative to the future spot rate encouraging the investor to let the option expire. If the option were to expire the corporation would still have to pay the premium and any other non-exercise costs. An unhedged position might be the best position if this were to occur because there would be no premium charges. The disadvantage to an unhedged position is that if the exercise price of the option were to be ‘in the money’, the spot exchange rate is greater than the exercise price, there would be no hedged stance against the yens appreciated value causing a higher cost to the foreign currency payable. Chap 6 1.Did the intervention effort by the Thai government constitute direct or indirect intervention? Explain. The Thai government is trying to smooth exchange rate movements by encouraging appreciation of its currency through direct intervention. It is exchanging foreign currencies for its home currency in the exchange market, this will put upward pressure on home currency. Specifically, the Thai government swapped baht reserves for dollar reserves at other central banks and then used its dollar reserves to purchase the baht in the foreign exchange market. 2.Did the intervention by the Thai government constitute sterilized or non sterilized intervention? What is the difference between the two types of intervention? Which type do you think would be more effective in increasing the value of the baht? Why? (Hint: Think about the effect of nonsterilized intervention on U.S. interest rates.) The intervention of the Thai government is an example nonsterilized intervention because the Thai government did not simultaneously engage in offsetting the described transactions in the securities market. This would have resulted in the net money supply to be unchanged. Both interventions will achieve the same exchange of currency in the exchange market but sterilized intervention requires another transaction to prevent adjustments in the money supply. An increase in money supply, as would be the effect in nonsterilized intervention, would cause home interest rates to drop and makes more money available for consumers to borrow from banks. Investors may transfer funds to foreign countries, the US, to take advantage of higher interest rates. This will increase the demand for US currency. The purchase of foreign-currency bonds leads to an increase of home currency money supply and results in a decrease in the exchange rate. The sterilized intervention is expected to have little effect on home interest rates because the money supply is expected to remain constant. As far as effecting interest rates nonsterilized intervention appears to be the better option. Chap 8 1.What is the relationship between the exchange rates and relative inflation levels of the two countries? How will this relationship affect Blades’ Thai revenue and costs given that the baht is freely floating? What is the net effect of this relationship on Blades? Thailand’s relative inflation rates have increased. This would cause the demand for baht currency to decline because exports have declined due to increasing prices. Exchange rate adjustments are critical to keeping relative purchasing power equal over time as inflation rate differentials fluctuate. When purchasing power is not equal consumers will move to cheaper alternatives. Since products are on a fixed price level they are not adjusted for Thailand’s inflation increases. There will be an increased demand for Blades exports by Thailand’s retailers and consumers because these products have not been adjusted for inflation. They are the cheaper alternative comparable domestic goods. According to purchasing power parity (PPP) equilibrium exchange rate will adjust by the same amount as the differential in inflation rates between two countries, however, there are often deviations from this theory. Thailand uses a free floating exchange rate where a currency’s value is able to fluctuate according to the foreign exchange market. Since Thailand is experiencing a higher level of inflation there is an increase in demand for foreign goods. Additionally, the demand for home goods is reduced. US currency will appreciate due to these market forces. The demand for Blades products will increase but the foreign currency purchasing these products has depreciated in value. This depreciation in Thailand’s currency causes a reduction in costs denominated in baht. US currency has appreciated, relatively. The net effect on Blades would be positive provided that the loss in the foreign currency’s value was offset by increased demand and reduced foreign costs. The magnitude of the cost/benefit ;however, is not clear. Chap 10 1.What type(s) of exposure (i.e., transaction, economic, or translation exposure) is Blades subject to? Why? Blades is subject to transaction exposure, the sensitivity of the firm’s contractual transactions in foreign currencies to exchange rate movements. The net cash flows need to be evaluated by each foreign transaction. First, cash inflows from the sale of goods and cash outflows from the purchase of components result in a positive cash flow. This cash flow is subject to a range of possible exchange rate fluctuations. Appreciation in the value of the foreign currency that caused a net positive cash inflow is viewed as favorable for the MNC. Japanese components imported and other foreign imports are also subject to exchange rate movements. Blades is also subject to economic exposure, the sensitivity of cash flows to exchange rate movements. Appreciation of a local currency would reduce cash inflows and outflows. Finally, Blades is subject to translational exposure. Components are imported from foreign subsidiaries, this could expose the MNC to different accounting practices biasin g cash flows relative to US accounting principles. 3.If Blades does not enter into the agreement with the British firm and continues to export to Thailand and import from Thailand and Japan, do you think the increased correlations between the Japanese yen and the Thai baht will increase or decrease Blades’ transaction exposure? If Japan was primarily used for export, as a result negative cash flows, this position would offset the positive net cash flow incurred by Thailand’s import and export. Since the currencies move in the same direction, a depreciation in currency would have a negative effect on positive cash flows and a favorable affect on negative cash flows. This interaction will help to offset exchange rate fluctuations and effectively reduce transaction exposure. On the other hand, if Blades has a positive net cash flow from the export and import of these highly correlated currencies, Japanese yen and Thai baht, Blades may be exposed to a relatively high level of exchange rate risk. This would increase transaction exposure. This result is due to the fact the currencies are positively correlated as a result the values of the currencies move in the same direction and by a similar amount. This would mean exchange rate effects would not be offset between the currencies if both currencies resulte d in positive cash inflows. 4.Do you think Blades should import components from Japan to reduce its net transaction exposure in the long run? Why or why not? Yes, as discussed above, components imported from Japan, resulting in a negative net cash flow (cash outflow), will help to offset the positive cash flow from exports to Thailand. Since the yen and baht are positively correlated the opposing direction of cash flows between these currencies will help to offset the net currencies fluctuation in value. This helps offset transaction exposure effects because payables and receivable interact in an inverse relationship toward exchange rate benefits.

Comparative Study on the Origin of Religion Essay

Since the early 1800s, there had been an ample amount of skeptics trying to account for the origin of religion. The basic question on everybody’s mind was where does religion come from? Some believed that people developed religion because they didn’t understand the forces of nature around them. Others believe that religion was created as a way of restrain people. In the 19th century, people were introduced to social science and anthropologists who once studied primitive culture were exposed to several theories on the origin of religion. Edward B Tylor was one of the first who developed a theory on religion. Max Muller was a German professor at Oxford University whose interest included Indian mythology and the study of religion. Another anthropologist was George Frazer who key contributions to religious anthropology was a religious encyclopedia. There are many explanations to the origin of religion, one of the most prominent being Edward B. Tylor’s theory of animism. This theory is considered the foundation of the physical evolution of religion; two other influential religious anthropologists, Max Muller and James Frazer, also based their explanations of the origin of religion on nature. All three religious anthropologists are similar in the sense that they traced the evolution of religion in an attempt to figure out the origin of it but differ in the way they approach the concept of religion. Edward B. Tylor developed the theory of animism to help explain the most rudimentary form of religion. Animism is defined as the belief that attributes souls and spirits to humans, plants, animals and other entities. Animistic religious beliefs are well-known among primitive societies who were â€Å"so low in culture as to have no religious conceptions what so ever† (Tylor). Tylor considered animism as the most primitive phase in the development of religion. He believed that the reflection of dreams and the observation of death caused primitive people to develop the idea of souls and spirits. Tylor thought that primitive people believed that everything in nature had a soul within it. He hypothesized that a belief in animism led to the formation of a more generalized god and, eventually, the creation of monotheism. Animism ultimately led to the evolution of religion in the minds of the people. It led them to take something so simple as nature and use it to explain the natural phenomenon in their environment. A conflicting theory that uses the concept of evolution is that of Max Muller. Another theory of the origin of religion was developed by Max Muller. He believed that people first developed religion from the observation of nature. According to his theory, primitive people became aware of regularity of the seasons, the tides and the phases of the moon. Their response to these forces in nature was to personalize them†(Hopfe and Woodward). They personalized them through linguistics. Muller believed that development of religion was a cause of confusion in language (Goldsmith). There seems to be a divide between Muller and Tylor over the nature of the origin o f religion. Max Muller believed that the answer to the sole origin of religion could be found in the past and a person can trace its origin in the linguistic remnants in the Indo-European languages. Tylor thought that implementing an ethnological approach would be more successful than studying languages for answers of the origin of religion. Evolution of religion is evident in Muller’s theory because â€Å"they personified the forces of nature, created myths to describe their activities, and eventually developed pantheons and religions around them† (Hopfe and Woodward). By developing religions and pantheons from identifying the forces in nature is a clear sign of the evolution of religion in the human mind set. Even though their theories are different, the idea of evolution of religion in the human mind is evident in both Muller and Tylor’s theory. Sir James George Frazer, a fellow religious anthropologist, began developing his own theories on religion. Frazer believed that humans used magic as a way to control nature and the events around them and when that failed, they turned to religion. They used religion to control the events for a while and when religion failed they turned to science. Frazer’s theories were similar to those of Tylor. They both believed that the human mind developed in the same way as that of physical evolution.. Even though Frazer took a similar approach to Tylor in tracing the origin of religion, he modified Tylor’s theory and replaced Tylor’s theory of animism with his idea of magic. A similarity between Frazer and Tylor is that they both believed that religion began from an intentional method of describing and making sense of a strange world. Frazer replaces the idea that religion explains nature by introducing science as a substitute. Frazer’s approach to tracing the origin of religion is similar to that of Tylor and Muller since all three traced the evolution of religion in an attempt to figure out its origin. Both Muller and Frazer’s theory are similar to Tylor’s theory since both trace the origin of religion through the evolution of it but differ in the way they interpret religion. All three of them seemed to miss a vital element of religion which is that no one who practices religion is doing so to explain how the world works. People use religion for several reasons. Some use it to give meaning to their lives while others use it to enforce social order. Maybe all three anthropologists didn’t miss this key component but rather didn’t know about it due to the rapid evolution of religion.

Beowulf Conclusion Essay - Free Essay Example

Sample details Pages: 3 Words: 915 Downloads: 5 Date added: 2019/05/18 Category Literature Essay Level High school Topics: Beowulf Essay Did you like this example? The poem Beowulf describes his continued quest for glory; with a moral directed at young adults and teens warning them of the emptiness caused by putting their career before family and friends. During his life he made a singular commitment not to have a family in order that he may prevail when challenged in combat. He gave no thought to being married and baring heirs, in lieu of living a solitary life. Don’t waste time! Our writers will create an original "Beowulf Conclusion Essay" essay for you Create order His military training taught him to travel at his master’s orders, living with other men, and placing God above himself. He learned to recognize and respect rank and his position among the soldiers. Over the course of time, he rose through the ranks from being a commander in the fighting unit, to eventually becoming king. Beowulf is related to Hygelac and Ecgtheow during his various adventures he battles with monsters; Grendel and his mother, including the black dragon later in his journey. The author explicitly describes and demonstrates Beowulf’s courage by not hesitating, not showing fear, and being smart in tactics and strategy. Confident in his abilities, Beowulf is able to successfully defeat the mortal enemies, Grendel and Grendel’s mother. During Beowulf’s journey, he accepts any challenge. â€Å"We are retainers from Hygelac’s band. Beowulf is my name. I am ready and willing to report my errand† (I. 342-345). This demonstrates that Beowulf is ready for anything and anyone, striking down any and all of his enemies. Not only is Beowulf honorable and well respected by the Danes, but he is also brave, he battles bare-handed with nothing but the skin of his back. His courage is displayed in his actions, not hesitating to risk his own life to pursue his employers enemies. When the land was threatened by a dragon burning villages to the ground, Beowulf plans to pursue the dragon, the epic poem states, â€Å"I’ve never known fear, as a youth I fought in endless battles. I am old now, but I will fight again, seek fame still, if the dragon hiding in his tower dares to face me† (I. 2511-2515). In this passage, Beowulf feels no fear, confident in fighting the dragon alone, and has no qualms in risking his life to save others. He declares his bravery by saying â€Å"When he comes to me I mean to stand, not run from his shooting flames, stand till fate decides which of us winsNo one else could do what I mean to, here, no man but me could hope to defeat this monster† (l. 2525-2534). Beowulf is demonstrating the will to never back down from a fight, staying strong in the face of danger, and fighting till the last one standing. Beowulf is victorious in all of his battles; however, in doing this he lives in isolation; never marries and has no close friends. Grendel is impatient in battle and attacks without a plan or strategy. Beowulf meets Grendel in combat and kills him. Unlike her son, Grendel’s mother uses ambush when attacking the Danes. She attacks at night and takes one of Hrothgar’s men as a prisoner, forcing Beowulf to come to her lair in order to rescue the soldier. Beowulf displays no fear in entering the cave, nor does he exude any hesitation in his actions. He allows his actions to speak for him and him alone. Grendel’s mother attacks out of revenge for her fallen son but ends up failing as Beowulf succeeds in slaying her. Comparing the epic poem to the animated film version, Beowulf’s mission is viewed differently. In the poem, the battle with Grendel was explicit, using literary devices to creating vivid imagery, bringing the story to life in the mind of the reader. The movie underplays the battle washing out the vivid details described in the poem, seems that the overall battle between man and monster was less engaging. In the poem, the battle between Beowulf and Grendel’s mother was an actual combat, resulting in Beowulf prevailing victoriously killing her, whereas in the movie the fight never occurs. The movie further implies that Beowulf had an affair with Grendel’s mother and the dragon, appearing later in the story, was the offspring of that affair. During the movie, Beowulf received dreams about a man that was golden and appeared to call him father. Beowulf had a foreboding that the next threat to Heorot was of his bloodline. In the poem, however, he had no inkling that the dragon was his son or of any relation to him. The dragon just appeared and started terrorizing the town, luring Beowulf out to fight. In conclusion, Beowulf’s bravery is explicitly displayed throughout the poem. A final example of heroic qualities displayed by Beowulf and his own human power. The mental and physical strength that s required of a hero. No Dane, before Beowulf’s arrival, was able to defeat the monsters, much less Grendel himself. Throughout the poem, Beowulf’s actions display confidence, anger, sadness, pride, bravery, and love for those he’s sworn to protect. In his quest, he gains wisdom and a selflessness to protect people even at his own peril. Beowulf is an inspirational poem that helps the reader understand that pride is good when applied properly and tempered with humility. but that isn’t what makes them better. The poem inspires consideration for others and a selfless regard to defend the innocent and helpless and the consequence of ignoring the call.