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Biopsychology of Drug Addiction

Background Information

Understanding of health and diseases relate to interactions that occur to sociological, psychological and biological factors. Biopsychology has traditionally been used to mean the interactions between biological factors and the individual health. Community health as well as individual health, are usually some of the important aspects of life that have led to the introduction of health care plans and medical institutions. Biopsychology has lately been expounded to include social factors that affect behavior of people. The name has been expanded to be called biopsychosocial aspects this adds various social aspects that affect behavior of individuals (Gurewich, Jenna, Sirkin & Shepard, 2012).

Biopsychology can be used in behavioral medicine. This means that there are some medical factors that affect the behavior of individuals. One of the medical areas where medical sciences affect biopsychology is the issue relating to drug addiction. Drug addiction is a biopsychology issue since it affects the behavior of individuals. It changes the normal functioning of human organs such as the brain. It could also be said to be a biopsychosocial issue since it affects individuals as well as other people in family and community at large. Understanding causes of addiction has been said to be more complex (Lev-Ran, Adler, Nitzan & Fennig, 2012).

Complexity of drug addiction has made addiction to be regarded as multi-causal. Although drugs may cause addiction, they cause different levels of addiction to different individuals. Different addicts also have different behaviors. There are people who may abuse certain drugs and the use does not cause addiction. There are those who use the same amount of drugs and will not lead to addiction. This makes it difficult to understand addiction. Drug addiction treatment is also difficult since different levels of addiction from abuse of similar substance. Treatment of addiction is also determined by the substance abused. This study will therefore look at the biopsychology in drug addiction in details and touch on ethical implications in various aspects of drug addiction (Schwarz, Zelenev, Bruce & Altice, 2012).

There are several causes that researchers have put forward. Biological factors have been viewed to contribute largely to addiction. Researchers have also reviewed the increasing literature on the causes and have drawn relationships between drug dependence and vulnerability to alcoholism. A review of existing literature suggests that there are a number of biological factors that lead an individual to alcohol and dependence on other drugs such as for instance heroin and cocaine. The researchers have grouped biological factors into three major clusters, namely: genetic inheritance of various syndromes of alcoholism, in-utero problems that could affect the central nervous system some physiological factors that could occur after birth (Schwarz, Zelenev, Bruce & Altice, 2012).

The genetic inheritance causes include variability in reactions and metabolisms to drugs and alcohol. Bodies of different individuals react differently to alcohol and other drugs. Individuals have different neurological and biochemical vulnerabilities. Different individuals have different structural differences as well as differences in temperaments. These in born characteristics have been said to cause addiction. Drug addiction due to genetic inheritance becomes complex while trying to contain the situation since the addicts have to alter their neurological make up in order to attain the desired results (Schwarz, Zelenev, Bruce & Altice, 2012). Addiction due to genetic make-up leads to depression and could develop into higher levels if it is left unchecked.

There are also situations where addiction results from damage of an unborn child. The damage of a fetus central nervous system has been viewed to cause addiction. The damage could also damage autonomic nervous system. Addiction could also be caused by biochemical or physical damage that could make the children more vulnerable to alcohol and substance abuse and addiction. Such damages provide higher chances that a child could be addicted to the drugs and substances. These causes have been said to contribute highly to early involvement in drugs to children and teenagers. Treatment of this kind of addiction becomes challenging since a psychiatrist to establish the actual point of damage in order to fix the situation (Hser., Fu, Wu & Du, 2012).

There are other physiological differences that may occur at any point after birth. Such situations are mainly caused by sicknesses improper diet. There are nutritional deficiencies that lead a person to drug use and addiction. Sicknesses could also result into damage of autonomic as well as central nervous system. Accidents could also lead to damage of nervous system leading to psychological instability which would eventually lead to drug and alcohol use and addiction. It has also been observed that physical trauma could also result into drug addiction (Hser., Fu, Wu & Du, 2012). Studies have stated that individuals will try to fight traumatic feelings by abusing alcohol and other drugs.

The biological factors above can be said to cause drug and alcohol abuse and addiction. An individual may have addiction due to one or more of them. However, the presence of all these factors or any one of them can not be use as sufficient evidence of drug abuse and addiction later in life. Psychologists have had different views on these factors claiming that these could only lead to drug addiction at early stages of development. Others have argued that the biological factors could remain dormant in early stages and start at adolescents when chemical reactions and metabolism are high (Gurewich., Jenna,  Sirkin & Shepard, 2012). They have also argued that when these numbers intertwine with negative environmental situations, they are likely to cause higher levels of addiction.

Biopsychology has also been advanced to include sociobiological factors that cause drugs and alcohol addiction. Drug addiction can be explained through implicit and explicit p0rinciples and underpinnings of philosophy. The philosophical point of view holds that causes of addiction are multi-directional. Proponents of biopsychosocial perspective argue that the causes are sensitive and probabilistic to initial dependencies. This means that alcohol and drug addiction cannot be argued to have a single causative factor, but rather a variety of interactive and inter-related causes (Gurewich, Jenna, Sirkin & Shepard, 2012). They also argued that there are some addictions that can not be explained through biological perspectives. These factors could be explained in sociological terms.

Environment has also been noted to cause drug addiction. Person –environment relationship is strongly an influential factor. Biologists argue that environment contributes to configurations in genetic make-up. This means that if a person is surrounded by a community that is involved largely in drug addiction, there are high chances that the person will abuse drugs. This is a typical biopsychosocial phenomenon that is revealed in the change of behavior of an individual. Person to person relationship is also viewed as a main cause of drug and alcohol abuse and addiction. People always follow their peer influence who introduces them to drugs and eventually they become addicts. It has been observed that individuals have always been observed to have large influences to behavior of people (Qureshi, Al-Ghamdy & Al-Habeeb, 2011).

Biopsychosocial proponents argue that reciprocal transactions between environmental factors and personal factors are also possible. This means that individuals from drug addiction environment can also heal from their addiction when they relate with an environment which is drug free. This means that reciprocal transactions could act as a solution to drug addiction. Personal reciprocal transactions could be explained in terms of change of relationship with peers and other individuals. This means that the change could have impacts in that a change of peer group from a drug free to drug addict peer group could result into drug abuse and addiction (Qureshi, Al-Ghamdy & Al-Habeeb, 2011). Therefore, reciprocal transactions could also be said to cause drug addiction.

Future of the person has also been viewed as a cause of drug addiction. Future events and prospects could also lead to drug abuse which eventually would lead to addiction. an example is the overlying incidences where individuals have a myth that individuals will be more active when they take drugs. Students will be lied upon that drugs increases their ability to study for longer times. Therefore, they would try these drugs and end up becoming addicts. The misconception that drugs lead to increased stamina has driven many people into drug abuse and has led to increased drug addiction in many societies (Lev-Ran, Adler, Nitzan & Fennig, 2012).

Treatment of Biopsychological Addiction

Treatment of addiction follows particular models. Addiction treatment providers base their treatment on particular model. There are other practitioners who will base their treatment on their personal belief, basing on how well they understand addictions from different causes. This study has identified different models that has been put forth to overlook on the basis on which addicts are treated. The paper will look at the disease model, the family model, psycho analytic model as well as learning theory (Lev-Ran, Adler, Nitzan & Fennig, 2012). These are the major models that have been widely embraced by drug abuse and addiction care providers.

Family Models

This states that an individual addiction status would not be understood without considering his family relationship. The model holds that different families will tend to resist change which will affect the endeavors of individuals. There are various individuals who have been said to have different roots of addiction from family ties. This boils down to inheritance. It has been found that particular families have alcohol and drug addicted members. This means that individuals that treat drug abuse and addiction have to know the individuals relation with his family a well as the condition of the family members in relation to substance abuse and addiction (Lloyd et.al, 2005). This helps them to determine the various reasons that would have caused addiction and substance abuse.

Psychoanalytic Model

This model of treating victims of drug addiction and substance cause is an extension of Sigmund Freud. However, many of its contents have been rooted in other approaches. The model has faced criticism by perceiving excessive drinking as deeper issue rather than viewing it as central to the problem. This model tries to analyze the problem from deeper causes of addiction. This aids in establishing and understanding the cause of addiction in order to have a better position to approach the condition. This has been as the best approach in giving treatment to drugs alcohol and addicts. Critics have argued that the model waste time investigating a victim’s life history instead of dwelling on treating the individual who is already in addiction (Lloyd et.al, 2005).

The learning model

This theory dwells much on the cognitive aspects and behaviors of addicts. The theory holds that addicts have different thoughts that lead to particular behaviors. This means that treatment of addicts is based on the behaviors that addicts demonstrate. Proponents of the theory have to understand the thoughts of their victims in order to offer treatment to the victims. The model argues that individuals develop addiction due to the environment they are in. the model takes into consideration the actual causes in regard to the environment. The model takes three forms, namely: cognitive modalities, behavioral modalities and the combination of the two which is behavioral-cognitive modalities (Hylton, 2008).

Disease model

This model has widely been embraced largely in the United States since 1960s. This model asserts that certain individuals have physical or psychological features that impede them from regulating intake of alcohol or other drugs abuse. The disease model prescribes collaborative treatment in that addicted victims are persuaded to abstain from alcohol and other drug abuse.  Most treatment centers incorporate this treatment model with other models. The model has faced criticism that it brings confusion in treatment to both victims and clinicians (Hylton, 2008). Such models as moral model, and biological ones have been blended together to offer treatment to substance abusers and victims of addiction.

The models discussed show the modern treatment of addiction. Biopsychology treatment is very useful because it integrates various causes of drug addiction and tries to make treatment on these causes. Biopsychosocial programs engage in risks assessments and seek to enhance prevention and treatment of individuals who are not only addicted, but also those who are at the risk chemical dependence. The theory however does not represent a paradigm shift although the transactional philosophy may have an impact on theoretical and research in behavioral and sciences. The Biopsychosocial model is a universal model that integrates different approaches to treatment and seeks to find deeper understanding of addiction rather than treating the observable conditions and aspects (Robinson, Smith & Saisan, 2012).

There are specialists in prevention of addiction who are advocating for development of methods for risk assessment and protective factors in children and among the youth. Their major objective is to prevent the youth from alcohol abuse and drug addiction. The specialists have taken their campaign in schools and other places where the youth and children are easily accessible. They also target peer groups and family. They argue that prevention of drug and alcohol abuse will help to reduce the rates of addiction, eventually leading to its complete eradication (Robinson, Smith & Saisan, 2012).

Ethical Implications of Drug Addiction

Having looked at the various extreme causes of drug abuse and addiction, it is also important to look at various ethical implications of substance abuse and addiction. Most of these points will dwell much on ethical issues in cure and prevention of biopsychology in drug addiction. Ethical issues that surround a particular action taken towards prevention or curing addicts should morally and ethically acceptable (Dryden & Edwards, 2012). All measures should observe ethics and should be morally acceptable by observing the norms of the society where the victim of addiction comes from.

In rehabilitation centers, the services that are provided should observe high ethical standards. The rehabilitation centers should provide their services in the best possible. Individuals who seek treatment for their loved ones or themselves should rest assured that the services they seek are efficient. This means that all individuals who have long term rehab have to receive the services they searched for. Treatment of drug addiction without observing ethical standards can not guarantee efficient services and results. Care and treatment providers should provide their service in a manner that he expected results equal to the actual results (Dryden & Edwards, 2012).

One of the greatest ethical concerns is confidentiality.  While family members and other groups consider the rehab centers, they have to select the best rehab centre that has a record of high confidentiality levels. Care given in drug addiction and substance abuse treatment is similar to that one offered in contemporary healthcare institutions and the ethical standards that need to be observed are almost similar. There is information that the victims feel they should not be able to share with everyone after recovery. It is the moral obligation of doctors and other therapist to keep such information confidential. Addiction victims should be let to come to grip with their different experiences which is regarded as part of the rehabilitation process (Zimmer, 2012).

The other ethical issue is equal treatment. Surprisingly, treatment of drug addiction is not based on equal treatment; it is based on individual services that are customized according to the condition of each individual in rehabilitation centers. The media has also misappropriated the understanding of addiction. The media has regarded addiction as poor decision, rather than a disease that require early treatment. It is therefore important that the media recognizes that substance and alcohol addicts are in need of medical attention and from professionals. Stigma is not part of practices that are undertaken in rehabilitation centers. This means that care givers and therapists in rehabilitation centers should treat all their clients in a manner that suggest equal importance (Zimmer, 2012).

Summary

This study has shown that biopsychology in addiction is an important area of investigation. This is because it views drug addiction in a wide perspective. The paper has detailed on the major causes of alcohol abuse and drug addiction. The causes have included the most recent information and the latest researched causes that have been discovered. It has also reviewed literature extensively on the treatment of drug abuse and addiction. Treatment has been explained by the use of treatment models that have been developed to show how various addiction care givers approach various levels of addiction. Confidentiality has been viewed as the overlying ethical issue. It has shown that rehab care givers and doctors should honor the wish of the recovered victims. Since there have been launched campaigns to educate youth and children, it is clear that the future, drug abuse and addiction rates will lower.

 

 

References

Dryden, R & Edwards, MD (2012) “Drug Abuse and Addiction,” Retrieved on 23rd of May, 2012 from < http://www.medicinenet.com/drug_abuse/article.htm>

Gurewich, D Jenna T. Sirkin, J.T & Shepard, D.S (2012) “On-site provision of substance abuse treatment services at community health centers,” Journal of Substance Abuse Treatment 42(4), pp. 339-345

Hser, Y., Fu, L, Wu, F & Du, J (2012) “Pilot trial of a recovery management intervention for heroin addicts released from compulsory rehabilitation in China,” Journal of Substance Abuse Treatment, 16(6), pp. 45-62

Hylton, (2008) “A Drug to End Drug Addiction,” Retrieved on 23rd of May, 2012 from <http://www.time.com/time/health/article/0,8599,1701864,00.html>

Lloyd, J.J et.al (2005) “Social contextual factors associated with entry into opiate agonist treatment among injection drug users,” American Journal of Drug and Alcohol Abuse, 13(2). pp. 10-17

Qureshi, N.A, Al-GhamdyY.S & Al-Habeeb, T.A (2011) “Drug addiction: a general review of new concepts and future challenges,” Eastern Mediterranean Health Journal, 6(4), pp. 723-733

Robinson, L., Smith, M.A., & Saisan, M.S (2012) “Drug Abuse and Addiction Signs, Symptoms, and Help for Drug Problems and Substance Abuse,” Retrieved on 23rd of May, 2012 from < http://www.helpguide.org/mental/drug_substance_abuse_addiction_signs_effects_treatment.htm >

Schwarz, R., Zelenev, A, Bruce, R.D & Altice, F.L (2012) “Retention on buprenorphine treatment reduces emergency department utilization, but not hospitalization, among treatment-seeking patients with opioid dependence,” Journal of Substance Abuse Treatment, 56(5), pp. 88-107

Shaul Lev-Ran, S., Adler, L, Nitzan, U & Fennig S (2012), “Attitudes towards nicotine, alcohol and drug dependence among physicians in Israel,” Journal of Substance Abuse Treatment, 58(3), pp 13-39

Zimmer, C (2012) “The Brain Can a Brain Scan Tell You What Drugs to Take and Choices to Make?” Discover Magazine, Retrieved on 23rd of May, 2012 from <http://discovermagazine.com/2012/may/04-the-brain-can-tell-you-what-drugs-take-choices>

 

Black Americans versus White Americans: 2000 to present history assignment help cheap

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Black Americans versus White Americans: 2000 to present

Introduction

Differences between the black and white Americans have existed over decades and it is unlikely that this situation will change soon. Currently, despite introduction of integration in the American society, white Americans still enjoy more privileges and favors than the blacks. It is ironical that despite the white Americans being the first group to come up with the idea of integration, they do not comply with its requirements. On the contrary, it is the black Americans that have complied as they integrate with white schools, neighborhoods and churches. Only a small number of whites in America today attend black churches, schools and neighborhoods. The idea of integration was that black Americans would integrate into the white society and the whites would do the same, however, this has never happened even in the present times. Integration made the white Americans to control the black leaders and regulate their businesses instead of promoting harmony in the state. Today, the blacks have to read the white’ art, music and literature, while this does not apply to white. This presents an analysis of the differences between black and white Americans from the year 2000 to present.

Black and White Americans Cultural Differences

In many America public schools with blacks as the predominant race, there is a lot of peer pressure among students that leads to low academic achievement. To add on this, the students who have a commitment education are targets for persecution and violent acts (). Many of the black Americans join local gangs and end up in jail or die due to gun violence. On the other hand, a majority of the white Americans value education more than the blacks and those who practice gang activities do it far away from their neighborhoods. Researches indicate that Black Americans have problems in racial unity. This is because they have hatred among themselves hence they do not work together and assist each other to build one another (Feagin, 252). There are no black Americans in the news media that have the courage to speak out when there are reports of an injustice act in the media. However, the black media personalities just concentrate on reading the news instead of speaking out for their people.

The white American news personalities speak out about the issues that other white Americans face. This shows that the white Americans work together to build their counterparts and come together to achieve a common goal. On the contrary, black Americans believe that every man should support himself. For instance, this situation is viewed in the black Hollywood where there are many black personalities including directors, actors, award winners, and theater owners. They write, direct, produce, distribute and create their own film industries.

Despite being in the industry, black Americans directors complain about their films not getting financial backing or considerable amounts of work. The lack of opportunity among the black Americans may be due to longstanding cultural conditions, but, one of the biggest problems they face is lack of unity. Both black and white Americans have a lot of negative attitudes, but, the main difference among them is that the blacks are not ready to assist each other. There are various misconceptions that lead to cultural differences between the black and white Americans including slavery, racism and prejudice (Feagin, 256).

 

 

Economic Differences

Currently, the rate of unemployment among the blacks basing on education, age and gender is increasing more than among the white Americans (Weller and Fields). This unemployment rate especially augmented after the great recession of 2007-2009 in America. During the economic recovery, studies indicate that this rate of employment among the blacks remained high even as it dropped among the whites. In the first few months of the year 2011, black Americans recoded a substantial increase in the rates of employment, but, in the past few months, the job growth stalled.  It is clear that the black Americans are still facing employment problems. According to Weller and Fields, policy makers in America should address the overarching issue on unemployment.

There are distinctive structural obstacles preventing black Americans from fully benefiting from the labor and economic market growth. These obstacles deserve great attention when to counter the high rates of unemployment among black Americans. Regardless of America’s economic climate, the unemployment rate among the blacks doubles that of the white Americans. In April, May and June 2011, the black Americans unemployment rate was averaging at 16.1 percent as compared to 7.9 percent for the white Americans during the same period. This showed that the black American unemployment rate two years before the recovery period in America was twice as high as the white Americans’. This situation is similar to the period at the beginning of the great recession in 2007’s fourth quarter (Weller and Fields).

The rate of unemployment for the black Americans was averaging at 8.4 percent compared to the whites’ at 4 percent. This unemployment gap between the white and black Americans also increased during the great recession period and then resulted to weak recovery in the labor market. From 2007’s fourth quarter to 2011’s second quarter, the unemployment rate of the black Americans rose by 7.7 percent (Weller and Fields). The gap in the unemployment rates between the white and black Americans continues across various population groups. Stark differences are clear in the labor market proficiencies of black and white Americans, notwithstanding gender, age and education of these two groups.

For instance, the unemployment rate among the black women was 14.1 percent in 2011’s second quarter as compared to 7.4 percent among white women within the same period. Correspondingly, the rate of unemployment among black men was 18.3 percent compared to 8.3 percent among white men. In addition, the differences in the unemployment rates between the white and black Americans cannot cite educational attainment differences as the cause. The black Americans’ unemployment is relatively higher than the white Americans’ at all educational accomplishment levels. For instance, in the second quarter of 2011, the unemployment rate of black Americans without high school diplomas was 26 percent compared to 12 percent among the whites with the same educational qualifications (Weller and Fields).

Similarly, the rate of unemployment among the black Americans with high school diplomas but without post-secondary education was 15.9 percent in comparison to 8.4 among the whites’. Lastly, the rate of unemployment for the black college graduates was 6.9 percent while among the white Americans with the same qualification was a sheer 3.9 percent. In addition, America experiences differences in the rate of unemployment between the whites and blacks across age groups. When there is a dry up in employment prospects, it is very difficult for the young black people to obtain employment. This makes many of them unappealing in the labor force (Weller and Fields).

In second quarter of 2011, the rate of employment among the black youths was 41.3 percent compared to the white youth that was 22.3 percent. Correspondingly, the rate of unemployment for the blacks in the working ages between 35-44 years was 12.6 percent compared to 6.5 percent among the whites in the same age bracket. On the other hand, the rate of unemployment of the blacks aged 65 and above was 9.4 percent as opposed to 5.9 percent among the blacks within this age bracket (Weller and Fields).

There are various barriers that affect the employment of the black Americans. This is true judging from the low rates of the unemployment across all subgroups in America. Various researches conducted show that the rate of unemployment among black Americans increased significantly faster than that of the white Americans, irrespective of age, education and gender (Weller and Fields). The relationship between levels of unemployment among the white and black Americans remained firm over the great recession period. As a result more whites than blacks in America remain holding job positions.

There are many differences in entrepreneurial rates involving the black and white Americans. Biased perceptions and subjective differences are highly associated with entrepreneurial predisposition across the black and white Americans. Black Americans have optimistic perceptions and have fear in starting their own businesses than whites. Differences between the business ownership rates among the black Americans and white Americans is striking. Close to 11.6 percent of white Americans workers own their own businesses and are self employed (Robb and Fairlie, 102). On the other hand, 3.8 percent of black Americans workers own businesses and are self employed. Recently, studies conducted have revealed that the dearth of black owned enterprises is due to low education levels among the blacks and low assets in starting the business.

Even though the results from the studies are useful, they have not revealed why firms owned by the black Americans lag behind firms owned by whites. The businesses owned by the blacks have low profits and revenues, employ few staffs and have high chances to fall then the businesses owned by white Americans. Among the United States policy makers, lack of achievement of black Americans businesses is a major concern (Robb and Fairlie, 105). This is troubling because ownership of businesses has been a route of economic improvement for the disadvantaged groups. On the other hand, black Americans are making little progress in owning businesses than the whites.

Despite the considerable gains in earnings, civil rights and education that the blacks have made during the twentieth century, no progress is gained in their businesses. Currently, the ratio of white to black Americans who are self employed is 3 to 1. Lack of experience among the blacks is a main problem that has led to low business ownership rates. As Robb and Fairlie (108) state, the white Americans are considered to have more experience in the businesses they own than the blacks. In addition, the white Americans are likely to be self employed than the blacks because their family lineage was self employed. The black Americans owning businesses have limited acquisitions in acquiring specific and general business human capital (Robb and Fairlie, 110).

According to Weller and Fields, there are many structural problems that prevent the blacks from full labor market gains. One of the obstacles results from the industries and sectors that offer black Americans employment. The manufacturing zone, which mainly employs black American men, cut off many jobs during the great recession period. Between November 2010 and April 2011, the manufacturing sector created 1,064 extra jobs. In June 2011, the jobs grew by 6000, after reducing the number by 2000 in May. Additionally, as local and state governments continued in cutting their spending, the processes affected black Americans excessively as they lost most of their jobs. In June 2011, local and state governments lost almost twenty five thousand jobs. When the recovery period started in July 2009, local and state governments shed more than 5000 jobs, a majority of which belonged to the blacks.

 

Black and white Americans social differences

The study of the relationships among social interaction for the white and black Americans addressed three main concerns: the role of social relations, differences in the associations across white and black Americans and effects of negative and positive social relations. The studies publicized that, despite the pattern of relationships and factor structure, the theories were similar for white and black Americans adults but the interrelationships among the theories were different. Personality did not play a vital role among the black Americans and sociability was related to personal control (Myers and Jackson, 166).

Further, this study, as a direct test of negative social interaction and social support, shows that the consequences and personal control are different. For the black Americans, social support was not affected by financial strains. On the other hand, for the white Americans, this difficulty was undesirably linked with family supports. Given the distinguished importance of family support among the black Americans, support may be given independently of difficulties in life. Significantly, social support had a favorable impact on the white Americans because they related well socially than the blacks.

Correspondingly,  financial strains was mainly associated with negative interactions among the white Americans family. Financial strains are normative happenings among the black Americans and this does not expose relations with relatives. Relationships that involved stress, personality, negative and positive interactions were unique for both the black and white Americans (Myers and Jackson, 168). The relationships between social interactions were unalike for white and black Americans.

Social support did not intermediate financial strains among the black and white Americans. On the other hand, little was done by the social support to protect people from these events impacts. White Americans who had financial problems reported more negative interactions less supportive exchanges with their family members. This suggested that supportive resources may be compromised by stressful events. Among the black Americans, neither negative interaction nor social support arbitrated financial strain impact on psychological distress. According to Myers and Jackson (172), black Americans used social networks for financial problems support.

Black and White Americans Psychological advantage Differences

For the black Americans, personality accounted for the connection between psychological distress and negative interaction. Financial problems among the white Americans were related with less support from their families. Currently, whites report high levels of traumatic events than the black Americans. This is in contrast to various researches conducted asserting that black Americans are more likely to get traumatic events. In addition, the white Americans reported many traumatic events such as disasters, robberies and physical assaults compared to the black Americans. For both white and black Americans, these traumatic events had indirect and direct effects on psychological distress. Whites may be more exposed to distress due to family support loss related with the traumatic event presence (Myers and Jackson, 173).

Myers and Jackson (175) state that negative interaction among the white Americans had a direct influence on psychological distress. For the black Americans, positive interaction influenced psychological distress. In addition, negative interaction worked through personal control so that it could influence psychological distress in and anticipated manner. However, for the white Americans, support from families reduced psychological distress indirectly. This was by strengthening personal control feelings. For the black Americans, negative interactions with families made the psychological distress to increase by eroding personal control feelings.

Black and white Americans Music Differences

Music preferences differ between the white and black Americans. By listening to a particular music, the black and white Americans reveal the values of their race. Many white American youngsters like to listen to rock and roll music as their first preference. On the other hand, they listened to white American R and B and country rap. Black Americans are more committed to listen to rap music. This is because they consider rap music to be life affirming than supposed by white Americans. The rap music listened by the blacks tends to be liked by the white Americans even though some of whites listen to rap music with favorable sense.

From 2000 to present, black American musicians have increasingly become recognized by various music awards as compared to the years when white Americans were only awarded. Grammys, Bet and MTV music awards have recognized the hard work done by both white and black musicians. The current Grammy awards have revealed that black Americans are scooping more awards than the whites (Grammy.org, 2012). This is because black American music is widespread and listened all over the world.

White privileges

Over the history, many of the white Americans had more opportunities in accumulating wealth. Some of the institutions based on the creation of wealth among the citizens of America, were exclusively open to the white Americans. Currently, the whites continue to accumulate more wealth. This is because their wealth is passed through inheritances making the white Americans to accrue the advantages continually. Many white Americans get financial support from their guardians enabling them to purchase major assets that accumulate their wealth (Kendall, 16).

A survey conducted by Department of Justice in 2002 found out that white drivers and racers were not searched by the police than the black Americans. Young white Americans who broke the law received lighter punishments than the black Americans. Black Americans arrested for possessing drugs were incarcerated at a higher rate than the white Americans. In 2007, the incarceration rate of the black Americans was found to be higher than that of the white Americans. In addition, the whites were mainly offered with employment opportunities. They get good jobs with good earnings in the market (Kendall, 20).

On the other hand, the white Americans are offered more housing units choices rather than the blacks. Many of them go on to own their own homes. White Americans are not likely to be turned down for a home loan or mortgage. In case a certain white American does not have enough finance in buying a house, he or she gets financial support from their families. Another housing privilege the white Americans get is payment of low interest rates on mortgages than the amounts paid by the black Americans. The education guidelines used nowadays in America have led to the construction of white privilege (Kendall, 22). White schools get better teachers and good technology in ensuring that the white Americans get better education.

This reveals how the whites get privileges in accessing good education system henceforth making them to be more educated than the black Americans. They are also considered to be more intelligent than the black Americans. This is because the whites perform the roles that are preferred in the society. Another benefit of white Americans privileges is the usage of skin whitening treatments by the blacks. Various theorists assert that the connection between skin whitening and white privilege is explained by color mentality and colorism. The whites go on to have better medical care than the black Americans. This is viewed by the existence of competitive and skilled white doctors (Kendall, 26).

 

Conclusion

The black Americans have let the whites into their economic and political lives while the white Americans have not let the blacks in their lives. Discrimination will take time to end until the black Americans develop their own economic base. This is by doing businesses with one another and investing and saving money within their community (Feagin, 265). The black Americans need to elect to public offices people who will be accountable to the black American community.

In the American culture, racism and discrimination will still exist. This is because the white Americans are still given a lot of privileges than the blacks. Despite existence of racism, many Americans will not admit its occurrence. The American country believes that there is civilization and a petty concern like racism does not influence the views of its citizens. As noted in this research, the black Americans are likely to be described as violent people in the media, are likely to be unemployed, investigated by police more often and taken to prison (Feagin, 267). Despite America making a lot of progress from those days whereby black Americans were persecuted by the government and enslaved, the country needs to improve its ways of equality among its citizens.

 

 

 

 

 

Works Cited

Weller. E, Christian and Fields, Jaryn. “The Black and White Labor Gap in America.” Center for American Progress. N.p., 25 July. 2011. Web. 14 Nov. 2012. <http://www.americanprogress.org/issues/labor/report/2011/07/25/9992/the-black-and-white-labor-gap-in-america/>

Feagin. R, Joe. Racist America: Roots, Current Realities, and Future Reparations. Oxford: Taylor & Francis, 2010. Pp. 250-267

Kendall, Frances. Understanding White Privilege: Creating Pathways to Authentic Relationships Across Race. London: Routledge, 2012. Pp. 15-28

Myers, Jim and Jackson, Jesse. Afraid of the Dark: What Whites and Blacks Need to Know About Each Other. Chicago: Chicago Review Press, 2000. Pp.166-175

Robb, Alicia and Fairlie, Robert. Race and Entrepreneurial Success: Black-, Asian-, and White-Owned Businesses in the United States. Boston: MIT Press, 2008. Pp. 102-110

Survival. Doctoral Dissertation, University of Michigan Press.

Grammy.org. “54th Annual Grammy Awards Nominees and Winners.” 2012. Web. 14 Nov. 2012. < http://www.grammy.com/nominees>

Boeing’s Innovation Management approach art history essay help: art history essay help

 

Boeing’s Innovation Management approach

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Introduction of Boeing Dream liner airplane

The Boeing dream liner is an airplane that stands out from other planes cutting a competitive edge in aviation industry. It has seats that vary from 210 to 290 passengers. It is the most efficient consumer of fuel as it consumes about 20% less fuel than 767. The distinguishing features are the four panel windshields, chevrons that reduce noise on engine nacelles, and the nose that have smoother counter. It is compatible with 777 twinjet thus allowing pilots to operate both models without any difficulties because of rated design features. The development of the plane has evolved over time and has involved large scale collaboration with numerous suppliers around the globe.

Boeing Dream liner airplane’s Innovation Process

Innovation of dream liner airplane came from diverse ideas that were borne from knowledge push, and a niche that had not been exploited. This gave fresh and new directions for innovations of the unique airplane of the 21st century (Tidd & Bessant, 2009). The Boeing dream liner product has come a long way. The ideas were born very many years back by using existing Boeing models. This was attained through challenging existing models through observing, through the problems that was encountered, and research. This involves many principles and assumptions.

The A380 designed earlier gave the back bone of Boeing dream liner. Through the A380, there resulted a very big change that gave rise to the emergence of a new product- the Boeing dream liner airplane (Bourdreau, 2012). The innovation search started as a result of the many inventions that were already in place; which utilizes the drawbacks of the already existing ideas and came up with new creative ideas that resulted to the product which is today among the best air lines in the world. It is observed that innovation change comes a long way gradually building on the existing ideas until a desired product is achieved (Bessant, Moslein, & Stamn, 2012).

The other factor that triggered innovation of the dream liner is the research done on the needs of customers together with taking the risks that is involved. The dream liner is a radical innovation ever achieved in time. The unique shape that is very aerodynamic was obtained by utilizing new technology design with the incorporation of lower weight composite fibers that are stronger than metals that was earlier used (Drutman, 2009).

The use of advanced technology such as the advanced scanned radar array system that allows the crew to track multiple targets and check at the same time giving them the chance to avoid trafficking and advanced infrared system which enables the crew to see and check adverse weather conditions. These are innovation processes that have come a long way. The manufacturers of Boeing dream liner adopted the most recent technologies for the best product ever achieved on earth.   In communications, there are the basic terminal local area network unit, crew wireless local area network units, aircraft Communications Addressing and reporting (ACARS), High Frequency Data link Mode 2, and provisions for broadband Satellite communications are the most current technologies that have been utilized in the plane. Moreover, there is the inbuilt advanced flight deck which has fewer replaceable lines units, more software which are upgradeable, and easy to configure (Gay, 2012).

The e-enabled tools proved flight crew, cabin crew, and ground personnel fast access of quality information. E-enabled system has been site on the ground with Boeing assistance. This is capable of handling operations efficiently and thereby enhancing revenue. Also, the e-enabled feature allows easy maintenance in the back office with minimal hands on mechanic involvement (Tidd & Bessant, 2009).

Boeing’s Dream liner airplane’s Innovation network

The emergence of Boeing dream liner capitalized on cost reduction with the intention of enhancing the experience of the customer. The manufacture of the model relied heavily on innovation networks where firms were outsourced from different parts of the world. Subcontracting assemblies was made up of several contractors where each sector specializes in different parts that make up the dream liner. After completion of every part, they were transported to a central assembly point where the parts were joined to come up with the product (Gay, 2012).

In my own opinion, I see this as an innovation network. First, because this was the first company to subcontract different contractors to produce different parts at different locations globally. Secondly, the involvement of experts with unique specializations forms a network of expert. This in itself is an innovation network.  Furthermore, the conglomeration of companies and skills to allow sharing of ideas and eases production concerns. For example between Boeing and the Japanese manufacturer Toray industries to produce carbon fiber forms an innovation network since the two can work together to produce composite materials that has never been used in the aviation industry (Bessant, Moslein, & Stamn, 2012).

The innovative approach adopted allowed industry principals to take over responsibilities, costs, and risks. The industry principals were given mandate to deliver the product on time working within their own budget limitations (Ekboir, 2009). The Boeing’s innovation network has enabled sourcing of experts, materials, and vast experiences from all parts of the world (Drutman, 2009).

Boeing Dream liner airplane’s Decision making for incremental innovation

The Boeing top leadership led the way and adopted radical and reconfigurations that contributed to stabilization of the company. Competencies and transformational leadership, ability to connect group, dream, charisma, and empowerment of the employees give rise to high performance. This was further strengthened by using intellectual stimulation of employees by rewarding them lucratively.  By the combination of all these, the company was able to come up with radical changes that led to the present Boeing dream liner (Gay, 2012). The Boeing 737 depicts the incremental innovation where refinement of other model was used. The first one that came into inception in 1968 is now in the 9th iteration. All through the development process, there have been minor adjustments and improvements on the size, engine, fixtures, and aboard diversions (Bourdreau, 2012).

The dream liner diverted from other models ever developed and employed radical innovation. This is where there totally new shift in the ideas and methods employed in producing a product. The radical innovation employed was challenging and involved a lot of risks and costs. The outside has the shape stand out as it has windshield composed of four panels, the wings, and the smooth front nose. The materials used are light and last longer than metals (Bessant, Moslein, & Stamn, 2012).

When we observe the interior it is more comfortable for passengers, has bigger windows that are in better position and has tint that can be adjusted, a smaller amount of dry air, light emitting diode that is dynamic, utilizes advanced technology among the many stunning features (Bourdreau, 2012).

 Boeing’s Dream liner airplane’s business planning

The Boeing’s strategies made use composite material that requires involvements of the supply chain. This was made possible when different sections of expertise were employed and specialization was a factor. By the use of this, the process was made simple and to the required standards.  The management of talents expanded beyond the company’s talent management to the suppliers. They had to learn how to manage the supply chain to harness talent and for parts. Through good and effective planning, the company combined talent resources, talent record, and blended talent channel mechanism in order to optimize price, threat, and tactical achievement (Gay, 2012).

In Boeing 787 components used such as carpet met the required standards and therefore reduces in the cost and the returns level off. Likewise, the wing mainframe boxes are of better quality and therefore bring some returns on improved performance. The supply chain for these two components is different and therefore managed separately. The main reason is to reduce the level of risk as much as possible without compromising quality (Bourdreau, 2012). The engineers on the other hand work to maintain the quality of aluminum based materials as high as possible, and when recruiting needed skills they consider skills to carry much weight. They do so in order to ensure that standards conforming to set standards are met. The engineers are able to gear investments of every component used in the aircraft so that all these impact directly on the cost, range of flight, and the comfort of the passengers. The Boeing Company has spread all these to all other sections so that talents and the investment in the organization bring biggest strategic difference (Gay, 2012). The success of the Boeing dream liner is seen to have radically erupted from the way the whole system was organized. The management in my own view employed project strategies that are both long term and short term (Bourdreau, 2012).

In order to compete favorably in the market, the company adopted the initiative of global sourcing and outsourcing so as to achieve economies of scale, make maximum use of the global supply chain, and to get the best innovative product. There vision of having people to work together was supported by the introduction of programs that benefit employees, and the was expanded and diversified so as to attract the best qualified people around the globe with no consideration of religion, race, gender, and disability. These opened up windows to attract the best expertise worldwide (Gay, 2012).

Conclusion

In conclusion, it is clear that the dream liner innovation in the Boeing Company for 787 dream liner exist. The use of carbon fiber was used to produce the first plane that was set to take on air and no other aircraft company has achieved. This lead to placement of very many orders even before the flight was inaugurated.

The company exercised innovation at the ground level where people have education, communication, and recognition of the fact that innovation key to the success of every business. These promoted innovation at the individual level. The success of the Boeing dream liner is seen to have radically erupted from the way the whole system was organized. The management in my own view employed project strategies that are both long term and short term.

I can boldly say that entrepreneurial needs was established when they spotted the gap that was not filled in aviation industry. The innovation brought comfort in aviation industry where we see that passengers are able to fly comfortably taking advantage of all the features of the dream liner.

References

Bessant, J., Moslein, K., & Stamn, B. (2012). In Search of Innovation, Wall Journal. Retrieved

11 /18/2012, from http://www.online.wsj.com.article/SB. html

Bourdreau, J. W. (2012). Boeing’s 787 Dreamliner Retools Talent Management. Retrieved 11 18,

2012, from http://blogs.hbr.org/cs/2010/08/boeings_787_dreamliner_retools.html.

Drutman. (2009). Where Does Innovation Come From? Pacific standard. Retrieved from

http://www.psmag.com/science-environment/where-does-innovation-come-from-3488/.

Ekboir, J. (2009). How to build Innovation networks, Istitutional learning ana change initiative.

Retrieved 11 /17/ 2012, fromhttp://www.siteresources.worlbank.org/INTARD/Resources

Gay, P. (2012). Brainmates. Retrieved 11 18, 2012, from

Innovation and Product Development – the Boeing 787 Dreamliner

Rayna, T., & Striukova, L. (2009). The Curse of the first-Mover: When Incremental Innovation

Leads to Radical Change. International Journal of Collaborative Enterprise , (1) 4-21.

Tidd, T., & Bessant, J. (2009). Managing innovation, integration technology, market and

organizational change. John Wiley & Sons Inc.

 

Book Review: Psychology of Investing history assignment writing help

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Book Review: Psychology of Investing

The two books “Psychology of investment” by John R. Nofsinger and “Boomerang: Travels in the New Third World” by Michael Lewis are much related in the sense that both the two books talk about the possible financial crises caused by poor investment decisions. The poor investment decisions can be as a result of the negative influence by the environment or negative psychological decision. Taking a look at the first book, “Psychology of Investing” by John R. Nofsinger, the book majorly looks at the common investment mistakes that come about due to the investor’s emotional and cognitive weaknesses. Such mistakes can be grouped into two major categories: how investors feel and how investors think. The author tries to examine the psychological influences in the decisions of the investor as well as the social factors that may adversely affect the financial decisions. The author further states that as much as the emotional and cognitive weaknesses affect all individuals, standard or traditional finance tends to ignore such biases since it assumes that individuals normally behave rationally. Financial theory has a central proposition, which states that markets are efficient. Efficiency in this sense implies that the price of every security coincides with its fundamental value if certain investors do mistakes due to frame dependence or biases.

The author says that as much as a case may be made against an efficient market, the available evidence is not able to support the ability or the habit of investors to produce excess returns all the times. This is to mean that as much as the market inefficiencies do exist, they are normally difficult to exploit. The author advises that if the stock prices are quite efficient and taxes and transaction costs are ignored, investors should never harm their wealth if they frequently trade or follow some specific investing strategies. This implies that traditional finance develops in a normative manner. This further means that traditional finance is concerned with a rational solution to any decision problem by forming financial tools and ideas for the kind of behaviors that the investors should adopt. Consequently, traditional finance does not put much focus on the behavior of the investor and its consequences. The book also talks about behavioral finance, which seeks to examine how real people behave in a financial environment and is for that matter, descriptive. Behavioral finance can also be called “open-minded finance” since it promotes rationality in an economy. However, certain agents may at some time behave less rationally. Generally, behavioral finance is the clear application of psychology to financial behaviors. The author states that the proponents of behavioral finance hold onto the idea that individuals may not be “rational” all the times, but they are “human” all the times. Behavioral finance thus exposes the investors’ irrationality in general and also exposes human fallibility in a competitive market.

The author also states that departures from rationality are often systematic although they are sometimes random. He further notes that investors’ deviations from economic rationality may be highly systematic and pervasive. This belief is common with the psychologists who have a strong belief that individuals normally act in an irrational manner and make obvious errors when in a mission to forecast. Behavioral finance relaxes the common assumptions of the traditional finance by including systematic, observable, and human departures from the zone of rationality into the models of financial behavior and markets. The writer argues that by combining finance and psychology, it becomes easier to explain certain features of investor behavior and security markets that seem to appear irrational. Why is it of concern if investors behave differently as required by the traditional finance? The writer elaborates that investors are prone to making specific mistakes of which others may be minor but others are very fatal.

Taking a look at the second book, “Boomerang: Travels in the New Third World”, by Michael Lewis, it majorly focuses on the financial crises in countries like Greece, Ireland, Iceland, and Germany and explores how the countries’ endless financial implosions have caused a great mess in their  money and markets. The book captures the aspect of international economic crisis. The author has a humorous way of presenting his ideas and one is often tempted to laugh but again, he talks about very serious economic mistakes that nations make, thereby landing them into financial crisis. As much as Lewis may have a robust sense of humor in all the instances in the book, he is not just a mere satirist; he first seeks to understand a complicated issue before deciding to make fun of it. In the first few paragraphs of the book, the author talks about a banker or a finance minister who gets set up for mismanaging the funds that is supposed to be used to improve the economy. The funds are instead diverted to benefit a few individuals, which eventually puts the country into a state of financial crisis. The writer uses funny and head-scratching judgments and at times uses stereotypes to attack the offending countries. He not only states that countries like Greece, Iceland, and Germany got into financial troubles but also attempts to expose their souls.

The author’s financial disaster tourism started in Iceland where the whole nation has no immediate experience or any slight memory of what high finance is. The author says that from 2003 to 2007, the banking system, real estate sector, and stock market in Iceland all boomed, but that was just an illusion since there was the web of cronyism whereby bankers formed the habit of lending each other huge sums of money to buy stuff like private jets and Beverly Hills condos, at madly inflated prices. Such transactions were among friends since as Lewis states, Iceland was more of one big extended family than a nation. Such activities resulted into a bubble burst making the banks to implode, thereby leaving every Icelander in banking losses of some money amounting to $330,000. The author states that the problem of such a country can be said to be that of national character. During the boom period, the people of Iceland thought they were so special, as seen with the president giving speeches mainly mentioning the nation’s culture, heritage, training, and home market, but they were not in reality. The author makes fun of the country’s financial elites, whom he described as lacking sophistication, and described them as fishermen turned investment bankers. He further mocks the country by saying that the government’s economic team is only made up of veterinarians, philosophers, and poets. He concludes that the men were supposed to leave the women of Island to run the show and saved themselves the shame.

The author then moves to Greece where he a gives a fascinating tale of the individuals given the responsibility to manage the nation’s resources but later turned against the nation and became the poster children of corruption and greed. He talks about a an individual who managed to get the ownership rights of a certain lake and at the same time acquired some government land in a crafty deal that when revealed in the press, left the public outraged. The monks also used the government funds to build a real estate empire at a cost of $1 billion. There were two anonymous whistleblowers who revealed the innate corruption in Greece. The whistleblowers were themselves tax collectors. Lewis states that the Greek officials lied in order to get themselves into the European Union. They did this by doctoring the Greek economic data. He further states that on the day of measuring inflation, the government statisticians involved themselves in acts like removing tomatoes (high priced) from consumer price index and also moving stuff such as defense spending and pensions off the book.

The author states that the Greeks are selfish and insular. They never say anything positive about one another.  Lewis states that tax evasion in Greece is like a birthright and civil servants often evade tax and they are actually paid for thirteen to fourteen months in a year. It is a country whereby during elections, the government pulls its tax collectors and the mob prevents ship passengers from spending and disembarking. The author states that the number of individuals involved in the catastrophe facing the country is not only baffling but also ridiculous. The country is composed of old fashioned bankers who takes deposits at 3% and then lend them out at 6% and then head to the golf course at 3 p.m. The author has the notion that the epidemic of cheating, stealing, and lying makes any kind of life impossible. The idea of whether Greece will honor and pay all its debts or choose to default and consequently pull Europe into deeper financial crisis will generally depend on whether it will change its cultures. The writer notes that he is not very optimistic whether Greece can change its culture.

The next country that the author looked into was Ireland, which experienced an economic boom in 2000 when the Irish people were economically very pessimistic. They suddenly discovered economic optimism. During periods of pessimism, it became the first European country to watch as its banking system crumbled. The country had a very long intimate relationship with wretchedness until it moved from being extremely poor to being extremely rich without pausing in the middle to experience normality. This made the country go through a painful moment when the boom period ended. The author’s next stop in the trip was Germany, which was his weirdest analysis as they had very little obsession over their economic boom. During the boom, the Germans did not live beyond their means that may have put them into massive deficits. The citizens did not involve themselves in buying overpriced assets that was beyond their financial capability and the government officials did not rush to make bundles at the investment firms. Lewis however notes that this does not in any way imply that Germany is not to blame for the present financial crisis or that they will not suffer from the impacts of financial crisis. The Germans’ acts of disciplined expenditure made the German banks become major creditors to other European countries that were spendthrift. The author states that Germans did not just believe in excrement but they strongly believed in rules. However, German lost when they bought assets from America thinking that the assets were safe. The Lewis’s book’s incessant stereotyping and moralizing attitude at some point leaves the readers wondering why the author, after travelling throughout Europe, took the path from being a storyteller to an itinerant scold. The book is full of unforgettable scenes and wonderful characters, but at the same time it is preachy, and even exudes anger. This kind of mix is quite distracting.

Looking at the book by Michael Lewis, it depicts the notion that it is normally hard for a country to change its culture and adopt a new one even if the old culture is harmful to the country’s financial or economic performance. This is depicted by Lewis in the Case of Greece where he expresses a significant doubt whether it can change its culture of corruption, stealing, lying and so on, and embrace the German culture, which involved a responsible and a disciplined spending. On the other hand, the book, “psychology of investing” by John R. Nofsinger, describes why it is hard for people recall their past errors. It states that memory is not about recording of past events since memory is an emotional and factual experience that involves factual recording of events. Just like in the book authored by Lewis, Nofsinger in his book states that people normally refuse to change themselves even if they know that they are not right. This comes as a result of self denial and to avoid the uncomfortable scenario whereby the brain would develop a poor self image and a feeling of failure. This makes it hard for people to see and understand their error. People instead avoid going through the pain by ignoring, rejecting, and minimizing any information that conflicts with their positive self image and a feeling of being right. Nofsinger has the notion that one does not gain the experience of being wrong, but people are rather oblivious to such mistakes.

Lewis majorly addresses the problem of corruption, mismanagement of funds by government officials, incompetence of policy makers and economic implementers. At some point in his book, he calls the bankers as fishermen who had changed careers to become bankers. This was only meant to criticize the incompetence of such officials in a humorous manner. He further says that women can even perform better in such positions instead of the clueless men. His major concern here is to call upon such countries to adopt good culture, good manners, and reputable values that would make such countries move from a state of poor performance into a state of high performance. A country that has competent economic and financial expertise enjoys a high economic stability unlike a country that employs corrupt individuals who only concentrate in embezzlement funds. On a similar note, the book “psychology of investment”, by Nofsinger also talks about tolerance and good manners or “the disagreement deficit”. This mainly advocates for cultural norms and values that would make people learn from their mistakes or errors. Nofsinger states that cultural values are very vital since it makes one realize any flaws that may exist in his or her own beliefs and the need to adopt new beliefs or behaviors that may make one make further mistakes in the future. The author further states the importance of tolerance and describes tolerance as the act of shutting up concerning what one believes. However, the author further states that as much as people tend to automatically accept and embrace information from the people they trust, they have the tendency of automatically rejecting information from unfamiliar, confrontational, and disagreeable people.

The book by Lewis also elaborates on the need for an economic and financial stability that can provide a favorable environment for investment. At the same time, the author also emphasizes on the need to handle or solve the problem of financial crisis since investment is not possible in an economy that goes through financial crisis. This made Lewis carry out a tour across several countries and analyzed each country’s economy and their possible contribution to the global financial crisis. Lewis found that different countries have different cultural affiliations and this brings the difference in their different financial behaviors. For example, the author says that the Germans were very cautious on how they spent their finances and never engaged in wasteful spending even during boom periods. This kind of financial discipline of German made its financial institutions become creditors to most European countries which were spendthrift. Lewis states that other countries like Greece were ridiculously corrupt and lacked any economic and financial agenda that would make the country engage in investments. On the other hand, in the book, “psychology of investment” by Nofsinger, the author also discusses the aspect of investment and the things that make individuals shy away from investment. He states that there is the need for formation of committees in various organizations that will look into the investment decisions of such companies. The committees mainly have the mandate to prevent any pitfall that may exist in the organizations and thereby hinder the organization from accomplishing its targets of implementing its investments.

Finally, both the two books talk about belief system and how what people believe can affect their relationship with others and even the performance of the whole economy. Nofsinger tries to explain that the understanding of whether something is right or false has a great impact on people’s beliefs. What digs even deeper into people’s mind is the study of the degree of being right or wrong. He further states that it is advisable for people to identify the false information and be able discard it from their beliefs and remain with that information that is true and valid. The book written by Nofsinger is very important as it tends to make people evaluate their lives and understand that people are different and everybody is entitled to his or her behavior. It also makes people understand why they make mistakes and how people can use their errors to become better people and good decision makers. Lewis on the other hand advocates for good moral standards and rational cultural beliefs that can drive the world to a higher level of economic performance, while at the same time avoiding practices that may drive the economy into financial crisis.