Personal Choice Is A Priority -- - Euthanasia - 1356 Words

Sujan Basnet Personal choice is a priority --- Euthanasia Organized disciplines of modern society, namely organized medicine, as well as the judicial and legislative bodies, which were constituted upon the ethical traditions of Western Civilization by longstanding convention, forbid the practice of active euthanasia on moral and ethical grounds. Quite simply, one human being shall not kill another. This is the command that has been handed down to humanity. One of the chief arguments supporting legalization of euthanasia, is that built upon the concepts of individual free will, autonomy and the right to exercise them. However, the elevation of these rights of the individual above those of the greater social group are a concern. The concern which arises, is that institutions which would exercise the free will of an individual, on a populace of individuals who are terminally ill, might lose track of the elusive quality of freedom as it relates to will, and implement someone else s will upon an unwilling individual, or upon an entire gro up for that matter. Western Civilization is breaking down under the corrosive influence of radical subjectivity and individualism. Freedom is divorced from truth and all authority above the individual is denied. (Moler, 1997) Thereafter, all truth is reduced to subjective relativism as it regardsShow MoreRelatedEuthanasia Should Be An Option1098 Words   |  5 Pageschoose how it ends. For the terminally ill, euthanasia should be an option in the United States. According to the American Journal of Psychiatry, the terminally ill patients who asked to die suffered from depression. This is treatable through therapy and medication, which makes euthanasia a bad option (O’Steen). This makes euthanasia similar to suicide, to some people. Why should we help them die when we can cure them and make their life better? Euthanasia is not suicide; it is the act of painlesslyRead MoreThe Principles Of Philosophy Of Nursing1184 Words   |  5 Pagesfundamental beliefs† (para. 1). The beliefs that comprise a person’s philosophy influence the choices that person makes. In the profession of nursing, it is critical to interact properly with people to attain a better result in the improvement of our workplace. Many people base their choice of profession on their beliefs, thereby ensuring that the principles of their career are consistent with their personal expectations. For example, getting a job or taking actions that are inconsistent w ith someone’sRead MoreMoral Question of Hastening the Death of a Terminally Ill Patient1220 Words   |  5 Pagescome through as weather the practice of euthanasia is an ethically correct medical procedure. There are many decisions that must be made regarding how to properly treat a individual who want to end there own life. Controversial views have always been made against those who suggest that terminally ill or incurably suffering people should be allowed to ask for and receive help to die if they so wish. The same set of arguments in opposition toward euthanasia is, that life is sacred and by legalizingRead MoreThe Debate Of Physician Assisted Suicide1321 Words   |  6 PagesThe Debate Surrounding the Topic of Physician Assisted Suicide Who gets to make the choice whether someone lives or dies? If a person has the right to live, they certainly should be able to make the choice to end their own life. The law protects each and everyone’s right to live, but when a person tries to kill themselves more than likely they will end up in a Psychiatric unit. Today we hear more and more about the debate of Physician assisted suicide and where this topic stands morally and ethicallyRead MoreMedicine Has Two Different, Straightforward Meanings --1741 Words   |  7 Pageslife is a broad multidimensional concept that usually includes subjective evaluations of both positive and negative aspects of life (cdc.gov). Though quality of life has a connotation to everyone, each individual defines it in their own way. On a personal level, it includes physical and mental health perceptions such as energy level, mood, awareness and how they correlate to health risks and conditions, functional status, social support, and socioeconom ic status. Components of culture, values andRead MorePhysician Assisted Suicide Essay1214 Words   |  5 PagesPhysician-Assisted Suicide PAS is highly contentious because it induces conflict of several moral and ethical questions such as who is the true director of our lives. Is suicide an individual choice and should the highest priority to humans be alleviating pain or do we suffer for a purpose? Is suicide a purely individual choice? Having analyzed and even experience the effects of physician assisted suicide, I promote and fully support its legality and provisions. Physician assisted suicide PAS or physicianRead MoreThe Principle Of Respect For Patient Autonomy Essay2130 Words   |  9 Pagesdirector/cremation, the fee totals 7,000 Euros (Canadian Hospice Palliative Care Association (CHPCA) Fact Sheet, 2011). . In Canada, previous laws banning PAS and voluntary euthanasia have led Canadians with catastrophic diagnoses to end their own lives, sometimes with unorthodox methods. With the newly implemented Canadian laws regarding euthanasia and physician-assisted suicide, palliative care and its need for funding have arisen. Palliative care is an approach that improves the quality of life of patientsRead MoreThe Minnesota Compassionate Care Act Of 20151674 Words   |  7 Pagesthat describes their prohibition and listing the sanctions that would befall an individual physician who chose to participate. These measures help to ensure that providers are not legally required to take actions that are inconsistent with their personal values. Debate over the Proposed Legislation The Minnesota Compassionate Care Act of 2015 was introduced by the DFL senator Chris Eaton, and it is coauthored by three other DFL senators and one DFL representative. Despite the fact that end-of-lifeRead MoreCase Study: Medical Ethics3528 Words   |  14 PagesFurthermore, the chances of her recovering from the said condition have been told to become rather bleak. The case study then transcends into the core of the predicament at hand, as Ms Katherine is content with the idea of informed consent to perform Euthanasia. On the surface this case study is a singular decision taken by an educated woman to steer her life in whichever direction she sees fit. However, this request of hers raises moral and ethical arguments that have been thriving for as long as theRead MoreThe Debate Over Legalization Of Euthanasia Essay2047 Words   |  9 PagesControversies on legalization of euthanasia in Europe and America are continuing. The argument for legalizing euthanasia36 is that the individu al s freedom entails liberty or choice in all matters as long as the rights of any other person are not infringed upon. The argument against legalizing euthanasia is that it will lead to disrespect for human life. Euthanasia can then be abused for criminal purposes. A financial motive is sometimes advanced in favor of euthanasia. It costs money to the family

The Problem Of Homeless Heroin Injectors For A 10 Year Period

The public rarely pays close attention to homeless people on the streets. There is one kind of homelessness that have dedicated their lives to heroin; these people call themselves â€Å"righteous dopefiends†. Philippe Bourgois and Jeff Schonberg became part of the daily lives of these homeless heroin injectors for a 10-year period in Edgewater Boulevard. Through various interviews with the addicts, we came to find out their shocking personal histories that led to their addiction and homelessness. These Edgewater homeless came from different ethnic backgrounds, however, they shared two common things; all of them were homeless and were addicted to heroin. They lived in dead-end alleyways, storage lots, vacant factories, defective cars, and highway embankments (4). The reason they labelled themselves as righteous dopefiends was because believed they were worthy in society, despite their actions. Going through ceaseless pain and anxiety of hunger, exposure, infectious diseases was reasonable to them because of their commitment to heroin (5). Throughout my paper, it will show that medication has an important implication in the lives of the homeless heroin injectors. Moral expectations in the Edgewater drug community is based on sharing, fairness, and justice (6). This type of economy is perfect for small communal societies, where their motto is to get mutual aid in order to avoid the free rider problem. Members of the community pool their money together to purchase heroin, andShow MoreRelatedThe Social Impact of Drug Abuse24406 Words   |  98 PagesSummit for Social Development (Copenhagen, 6-12 March 1995) Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Chapter Part one: background I. The drug problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A. B. C. D. E. The global context . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Growing plants to produce

Royal Commission into the Banking Sector of Australia

Question: Should a Royal Commission Be Held Into the Australian Banking System. Answer: Introduction The demand for the royal commission into the banking sector of Australia is found to be growing louder. But not all the individuals are in support of this idea. As per ABC News, in Australia a Royal Commission is having the unique power with regard to the investigation, which is in some of the ways, is considered to be more wide-ranging than that of a court (ABC News, 2017). It has been distinguished that might be because such kind of commissions are not recognized in determining the individual faults so their powers can be found to be less bound when compared to that of the courts. Hence, under the act of Royal Commission there is no excuse for the natural person in providing the providence on the basis of the self-incrimination (section 6A), however, the evidence that is provided to the Royal commission is not acceptable contrary to the individual in the proceedings of civil or criminal in any kind of Australian court (section 6DD). In similar to this the privilege that is legally professional is more condensed than in the court of law (section 6AA). The start of the Global Financial Crisis is from the disaster of subprime. Having an understanding regarding the crisis is important (Adams, Fss Gropp, 2014). Here the important facts about the banking sector in Australia have been briefed out which are as follows: there was a development of large industry about making the unreliable loans, sold using the destructive lending, by crooked lenders, etc. other than this various other banks in Australia including the Bank of America got engaged in the fraud documentation at the level of the industrial scale (Babb Kentikelenis, 2017). These unreliable loans have been sold in a huge number known as CDOs. These CDOs were considered to be risky ones have been sold with a worth of hundred billion dollars to all the banks throughout the world. The actual point is making dealings that are unreliable and practicing the culture that is unethical in the banking sector of Australia can create the disasters, national and international problems. Need of Royal Commission into the Banking Sector As per Bhagat, Bolton Lu, in our society and economy, the services that are related to banking and finance will play a fundamentally significant and constructive role. But there would not be wealthy high streets without the presence of wealthy back streets and banks are found to be crucial for both in providing the services and the credits to the households and for the businesses either it is large or small. This is the reason why it has become the national interest that the people and the companies are in a position to have clear cut confidence in these particular institutions. In the recent years with the help of the disclosures, this kind of confidence has become challenged (Bhagat, Bolton Lu, 2015). According to Board, these disclosures have been obtained most of them by Fairfax Media and specifically via Adele Ferguson investigative work regarding the fights of interest, the ragged treatment of the customers of insurance, manipulation of the market, the shabby treatment of the informers, the role of the institutions in the offshore tax havens and of others uncertain behavior (Board, 2015). It has been argued by the services of banking and the finance that these prayers will reflect merely only a few numbers of bad instances, but there would not be in-depth problem with the culture of the industry. As there would be the mounting of disclosures and allegations the current one in the financial markets is the rigging of the key rates of interest the concept that any kind of bad behavior is not usual and has become weak. Further, it has been sought out by the bank to bend at criticism and the examination by demanding that the internal investigations will fix any kind of problems. It has been noticed that it is not possible for the institutions for conducting the investigations independently. In the recent years, it was argued consistently that the governing bodies, particularly the corporate regulator the securities and the investment commissions of Australia have failed in investigating sufficiently and laws the sector of financial services (Chen, et al., 2014). It is again wished with them for enhancing the performance. A senate inquiry has recommended the royal commission two years ago to investigate the forgery into the Commonwealth Bank along with the allegations and fraud in its operations of financial planning. After which the attention has been broadened and now the whole sector is perceived widely with the distrust and the suspicion (?ip?i? Pavi?, 2016, January). Recently by the banks, it has been fuelled which has failed in passing the cuts in the official rates of interest and requesting to be under the pressure of cost while figuring out the margins of profit which in most of the industries is the envy of the companies. So, given is the key significance regarding the services of the banking and the financial companies and comprehensible view in the confidence of the public in this sector, it is believed by The Age with respect to the argument about the royal commission is reaching the leaning point. Although it is not said publicly it is expected by the banks that the royal commission would occur and the cause will be forced from the crossbenches of parliamentary. The calls have been resisted by the alliance before the election right from the labor for such an inquiry which is judicial however, these are already present on the government benches who had the belief that it should happen. In recent months it was publicly and sharply criticized by Malcolm Turnbull on the banks for numerous times and he was arguing by forcing them at least once a year to appear near the panel of parliamentary so that it would cause them in fixing their ways (Code, 2016). Da Gbadji, Gailly Schwienbacher said that it was believed that would not be sufficient. It is agreeable with the Prime Minister that the leaders of sectors have failed in fixing the culture which has betrayed the trust of the public arguably as it has provided the important financial support to the banks during the period of financial crisis globally and after that (Da Gbadji, Gailly Schwienbacher, 2015). A royal commission might be expensive and will take most of the time, so it is believed that there is a requirement for helping the sector in clearing the problems with the help of its internal culture and established it again and support the confidence of the community. Ultimately, it is in the interest of the sector along with the entire society and economy. Right Time for Royal Commission in Australian Banking Sector In the concept of royal commission, there is a wealth of wisdom which is the first thing to be noticed while seeking to get off from the place disorganization. However, in the nations wealth most of the guardians seem to be determined on the digging that is not wise into the deepest pit of the criticism of the parliamentary and publicity is to the extent of irony that they are taking the risk in helping to bring them to the royal commission which they were trying to avoid. The investigations that were carried out by The Age has revealed much of the results as a part of the evidence for the banks with respect to the things that are done wrong in the companies is the outcome of the some of the bad apples (Dr Andy Schmulow, 2017). It is under the argument that the evidence against the banks has been mounted last year; to institute the royal commission into the integrity of the culture and conduct it is in the national interest of such kind of socially and economically fundamental financial institutions. In the recent days authentication to the inquiries of parliament has supported this view (Flannery, 2016). In the coming days, Westpac and ANZA the chief executives of the CBA will be following of NAB, whose verification has revealed of the widespread of the behavior that is poor, in which the cheating done for the hundreds and thousands of customers is included and the payment that is inappropriate of huge and perhaps the excessive bonuses. For avoiding the royal commission this kind of appearances is the part of the efforts that are put by the banks and the alliance of government. The key argument of the discussion is that the laws and the regulations which are already there are very much sufficient in making sure of the treatment that is given properly to the customers by the banks and hence the royal commission would just be the expensive inhibition for the functioning of the financial sector in the orderly fashion. This is not at all accepted. The existing regulators are not inhibited by the legal investigation. It has been argued consistently that the governing bodies which exist specifically the corporate regulator the ASIC is found to fail in its investigation as it was not sufficient (Gennaioli, Martin Rossi, 2014). It is to be noted that they are looking for the improvement and are pursuing the Westpac currently overdue the industry by lending. Only the second half of the cross-examination of the parliament is being witnessed to, which the CEOs of the banks have agreed in submitting the bid collectively for avoiding the legal investigation (Hilscher, Landskroner Raviv, 2016). But even at this level of the new processes, they might wonder that, is there any chance in backing off from the royal commission. Foundation for the Australian Banking Sector The above sectioned mentioned the details regarding the right time to which there should be the description of the Australias banking as well as the financial system. In that context, this portion has been originated in the 19th century as per the British laws and the institutions. Based upon that the commercial financial or banking sector is said to be established in the year 1817 and by the effect of that Australia experienced the establishment of the privately owned bank. Thereafter the establishment of this bank provided the issue relating to the legal tender which occurred in New South Wales. This action in further condition is again followed by the emergence of the first savings bank that keeps the record regarding the process of safekeeping of the money of the new arrivals that act within the colonies (Kidwell, et al., 2016). Thus by the 19th century there has been a great increase in the number of banks within the new territories of Victoria as well as the South Australia. This resulted in such condition that the British took the decision of expanding their financial system in the colonies of Australia. All of these acts established the condition that reflected in the settling down of the foreign exchange markets along with the encouragement of the competition within the interest rates (Knights Tinker, 2016). Therefore it resulted in the vast development of the branches of the banking sector within the Australian colonies. More specifically the right time for the origin of the commission with respect to the Australian banking Sector when the Australia felt the enhancement within the investment which is again associated with the extraordinary levels of the building activity as well as the speculation of the property market in the Australian market. At the same time, the banking sector in the Australian colonies is seen to have an increase of their risk levels. This rise in the risk levels is specifically to maintain the share market as per the competition raised from the non-bank financial institutions like the pastoral, building and the mortgage companies. Along with that there has been the condition where there is the collapsing of the real estate market and based upon that the banks basically try to find the better prudential practices (MacDonald, van Oordt Scott, 2016). In that context, the Australian banks provided the better fare at the time of depression which again highlighted the links in between the financial system along with the stability and economic growth as well as the employment. The highlighting of the links during depression occurred in the year 1930. This year is further responsible for the activity by which all the functions came under the close scrutiny by the result of which the Royal Commission is formed to take care of the Banking as well as the Money by the year 1936-37 (Nawaz, Haniffa Hudaib, 2014, November). Thereafter the commission provided the recommendations regarding various measures which will establish the support as well as the stability of the financial system in Australia by helping in the origin of the financial deregulation. Origins of Financial Deregulation: The regulatory system that prevailed post-war in evidently longed to obtain the super visionary and monetary goals through direct constraints on the financial activities of the banks. The regulations that were followed in this time provided restrictions on the operational flexibility to the activities of banks and their capability to compete in the market. For an instance, the rate of interest caps on the deposit accounts posed restrictions in the ability of banks to bring in funds. In a similar way, lending was constrained through the guidelines on the bank approvals regarding trading (Samra, 2016). The savings banks had confronted the restrictions in their capability for lending regarding housing by the need of possessing the maximum of assets in the form of cash, government deposits or securities with the central bank. The participation of the NFBIs developed to complete the gaps that were caused by the constraints on banks which included the merchant banks to the building societies and service corporations to the service the market of home lending (Saunders Cornett, 2014). The bank's assets face the declination as a part of the GDP along with the declination of the share of markets of the commercial banks during the period of 1955 to 1980. This had significant implications for the conduction of monetary regulations and policies that were depended on the direct controls on the financial institutions like banks and also resulted in the concerns from an avaricious perspective. The financial authorities in Australia were concerned about the prevailing trend at the initial stage and many steps were taken towards the deregulation during the era of the 1960s and 1970s to boost the banks' position and initiating the establishment denotes by which the implications could be put on the wider system of finances (Sheppard, 2013). For example, the maximum rates on big overdrafts were discarded during this time and the rates of interest regarding the certification of deposit were removed in 1973 which allowed certain banks to have some scope I managing the liabilities. In spite of every issue, regulations were focused on the competition and domestic market among the local institutions. Making the regulations free of control in certain areas, it had implications of increasing stress on the regulations that lingered (The Age, 2017). The pressures were increasing by the growing nature of the flow of capital is sensitive to the interest which hugely posed implications in the establishments of the subsidiaries of merchant banks of the foreign banks that had funds accessibilities from the counterparts that are overseas parent organizations. These capital flows were volatile which along with the exchange rate lead to the complications in the efforts to regulate the domestic liquidity and maximize the differential regulation implications among various aspects of the financial system. The requirement of the central banks to provide funding to any shortfall in raising the debt of the government as an outcome of the mechanism of raising debts that are not efficient added to the issues with the management of liquidity. The Government of Australia instigated a wide-scale review of the financial system of Australia which was named as Campbell Committee in the year 1979 (Ueda Di Mauro, 2013). References ABC News. 2017. Why Australia needs a banking royal commission. Adams, Z., Fss, R. and Gropp, R., 2014. Spillover effects among financial institutions: A state-dependent sensitivity value-at-risk approach.Journal of Financial and Quantitative Analysis,49(03), pp.575-598. Babb, S.L. and Kentikelenis, A.E., 2017. International financial institutions as agents of neoliberalism.The SAGE handbook of neoliberalism. Thousand Oaks: SAGE Publications. Bhagat, S., Bolton, B. and Lu, J., 2015. Size, leverage, and risk-taking of financial institutions.Journal of Banking Finance,59, pp.520-537. Board, F.S., 2015. Assessment Methodologies for Identifying Non-Bank Non-Insurer Global Systemically Important Financial Institutions.The Second Consultation Document, Financial Stability Board, Basel. Chen, R.R., Chidambaran, N.K., Imerman, M.B. and Sopranzetti, B.J., 2014. Liquidity, leverage, and Lehman: A structural analysis of financial institutions in crisis.Journal of Banking Finance,45, pp.117-139. ?ip?i?, M.L. and Pavi?, T., 2016, January. Management and supervisory board gender diversity as an indicator of financial institutions profitability in Croatia. InInternational Scientific and Professional Conference: Contemporary Issues in Economy and Technology, CIET 2016. Code, M., 2016.Financial institutions. Da Gbadji, L.A.G., Gailly, B. and Schwienbacher, A., 2015. International analysis of venture capital programs of large corporations and financial institutions.Entrepreneurship Theory and Practice,39(5), pp.1213-1245. Dr Andy Schmulow, D. 2017. For and against a royal commission into banks. Flannery, M.J., 2016. Stabilizing large financial institutions with contingent capital certificates.Quarterly Journal of Finance,6(02), p.1650006. Gennaioli, N., Martin, A. and Rossi, S., 2014. Sovereign default, domestic banks, and financial institutions.The Journal of Finance,69(2), pp.819-866. Hilscher, J., Landskroner, Y. and Raviv, A., 2016. Optimal regulation, executive compensation and risk taking by financial institutions. Kidwell, D.S., Blackwell, D.W., Whidbee, D.A. and Sias, R.W., 2016.Financial institutions, markets, and money. John Wiley Sons. Knights, D. and Tinker, T. eds., 2016.Financial institutions and social transformations: International studies of a sector. Springer. MacDonald, C., van Oordt, M. and Scott, R., 2016. Implementing Market-Based Indicators to Monitor Vulnerabilities of Financial Institutions. Nawaz, T., Haniffa, R. and Hudaib, M., 2014, November. The Impact of Intellectual Capital on Corporate Performance of Islamic Financial Institutions. InInternational Conference on Intellectual Capital and Knowledge Management and Organisational Learning(p. 519). Academic Conferences International Limited. Samra, E., 2016. Corporate governance in Islamic financial institutions. Saunders, A. and Cornett, M.M., 2014.Financial institutions management. McGraw-Hill Education,. Sheppard, D.K., 2013.The Growth and Role of UK Financial Institutions, 1880-1966. Routledge. The Age. 2017. Australian banks: Time is right for a royal commission. Ueda, K. and Di Mauro, B.W., 2013. Quantifying structural subsidy values for systemically important financial institutions.Journal of Banking Finance,37(10), pp.3830-3842. Zhang, Z., Xie, L., Lu, X. and Zhang, Z., 2015. Determinants of Financial Distress in Large Financial Institutions: Evidence from US Bank Holding Companies.Contemporary Economic Policy.

Modernization and Democracy of Spain an Example of the Topic Economics Essays by

Modernization and Democracy of Spain by Expert Suzzane | 23 Dec 2016 Francisco Franco in his reign as the head of the state marked the period of long dictatorship since the end of the civil war in 1939 until his death in 1975. Franco's success in overthrowing the Republican was believed to have paved the way for the World War II. After the war, Spain had undergone the seemingly repressive and violent era in the hands of Franco for roughly four decades. Need essay sample on "Modernization and Democracy of Spain" topic? We will write a custom essay sample specifically for you Proceed After Franco's death, his successor thought of taking necessary measures to resolve the traumatic impact of dictatorship in the life of the people and country. Wildman noted Spanish Prime Minister Zapatero's attempt to bring back the democracy in Spain by officially, morally, and financially acknowledging the victims and heroes of the civil war (par. 1). This is an attempt that drew debate among themselves since the populace from different parties decided to forget the past through an agreement called the pact of forgetting, since reliving the memory of the civil war and reign of dictatorship would only lay the groundwork for more fighting, according to PP leader Mariano Rajoy (Wildman). People Frequently Tell EssayLab specialists: I'm not in the mood to write my essay. Because I don't have the time Professional writers recommend: Entrust Your Essay Paper To Us And Get A+ How Modernization is Achieved The post-Franco Spain is believed to be the third wave of democratization after its successive bloody civil wars in the past. Modernization has come to Spain along with democratic revolution despite the country's lack of significant democratic roots (Encarnacion, p. 35). Democracy in Spain was largely attributed to Franco's successor King Juan Carlos who was a personal choice of Franco. He set the ground for democratization in Spain by appointing key leaders who would assume the role political crafting of the country. This has been followed by the election in 1977 that inaugurated the democratic rule in Spain (Encarnacion, p. 39). Although, communism was very strong in Spain, democracy was truly in the hearts of the people. This has been evident by the victory of a Socialist Felipe Gonzales as the Prime Minister in 1982; his leadership is credited with consolidating democracy (Encarnacion, p. 37). Encarnacion accounted that the most important consolidation of democracy was the observance of law wherein, the standard of true democracy was the civil and political freedom (p. 37). Political reform resulted to economic revolution in Spain after several years in downturn and deep economic crisis. In 1984, the hallmarks of neo-liberal economic reform arrived in Spain when the state began to sell its state-owned companies to private inpiduals and institutions. This also led to a more organized labor groups and government's effort to sustain the working class that was greatly affected by the economic crisis. These government programs revitalized the Spanish society in general. The Importance of Tourism Industry in the Development of the Country Tourism in Spain became popular in 1990s. Due to the growing numbers of foreign tourists, Spain is now considered number two as world's destination reported having sixty million foreign tourists in 2007. Tourism therefore is income-generating in Spain. In a report released by Informative National Statistics Institute, the contribution of tourism in the economy in 1999 alone was sixty eight million euros, about 12.1% increase in GDP (p. 1). This success in the tourism industry also resulted to a much significant growth in economy. According to Cifra (NSI), tourism has impacts both in production and employment performance of the country. Initially, it affects directly the companies that supply goods and services to visitors, while the result of activity generated in other companies also helped in accumulating income. About sixty percent of accommodation services and food and beverage serving services comprise the total spending of the tourists. The said report presented also its impact in the total employment having about 6.2 and 10.1 percent of increase in the employment in the country. Emigration and Migration in Spain Another remarkable event that took place in Spain is its migration reports. Perez noted the six million emigrants who worked as temporary workers in Americas particularly in Galicia, Asturias, and Canary Islands during the period 1850 to 1950. Northern Africa, Northern Europe and Algeria were among the chosen destination of Spaniards. According to Perez, some of the factors that relate to migration was economic reason. Although migration was a constant pace, yet, this began to end from 1974 recording the latest annual departures of 2,000 only. Perez accounted some of the factors in the decrease of Spaniards leaving for abroad to becoming a receiving country for foreign laborers from Northern Africa and Latin America, as well as retirees from European countries. Perez explained that the onset of migration to Spain was attributed to regional phenomenon that took place in 1980s. During this period, Mediterranean countries including Spain became the receiving rooms of employment opportunities; Germany, Switzerland, and France has ended its traditional receiving countries; the poor performance of the labor markets in the sending countries; and, the admission of Portugal, Spain and Greece into the European Community. The Role of Spain in the Western Civilization Today Spain is now recognized as significant factor in international economic relations. In a report released by New York Times, Spain is now the world's eighth most powerful economy; being the top investor in Latin America, the eighth in foreign investments worldwide, the tenth most popular destination for investment, and Spanish companies become world leaders in entrepreneurship. The rapid growth in the economy is attributed to the people's determination to embrace democracy as well as to its participation as member of European Community. Spain as a world power is invigorated through its political alliance with the United States, which was exemplified by the historical closeness of the two. The treaties and agreements they had both signed about centuries ago intensified by common principles on international issue have strengthened that relationship. Nowadays, both countries according to report made by The New York Times, have agreed to carry on variety of concerns such as education, employment, scientific cooperation, space, and defense. Truly, Spain has won international respect that made it play a significant role on issues affecting many global concerns. Garrigues Walker in his statements stated that, Spain already has its foot in the door (New York Times). In 1992, Spain today foresaw a better relationship with Latin America as they celebrated the 500th year of the discovery of the new world. The people here wanted to respond to the siren call of shared language and cultural values with Latin Americans (James, p.3). Along with the commemoration, the country designed a legal framework that could unite them culturally, economically, and politically. In a paper presented at the 2001 LASA Convention in Washington D.C., Pablo Toral presented the large investment the Spanish companies had in Latin America beginning 1990s. Most of these companies that facilitated investments were from three sectors: banking, telecommunication, and energy (p. 1). Toral emphasized that Spains investments in Latin America was not only based on microeconomics calculations but also on political and macroeconomic aspects (p. 17). Work Cited James, Barry (January 8, 1992). Searching for a Role, Spain Shies from EC and Reaches Out to Latin America. International Herald Tribune. http://www.iht.com/articles/1992/01/08/spai_1.php Omar G. Encarnacio. Spain After Franco: Lessons in Democratization. World Policy Journal. Winter 2001/02. http://www.worldpolicy.org/journal/articles/wpj01-4/Encarnacion.pdf Perez, Nieves Ortega (February 2003). Spain: Forging an Immigration Policy. Migration Information Source. http://www.migrationinformation.org/Feature/display.cfm?ID=97 Spain Flexes New Economic Muscle. New York Times. 2003. Date Retrieved: April 1, 2008. http://www.nytimes.com/global/spain/two.html The Economic Impact of Tourism. Cifre Ine. 2/22. http://www.ine.es/en/revistas/cifraine/cifrasine_satelit_en.pdf Toral, Pablo (2001) Spanish Investment in Latin America. Florida International University. http://lasa.international.pitt.edu/Lasa2001/ToralPablo.pdf U.S.-Spain Relations Better than Ever. New York Times. http://www.nytimes.com/global/spain/three.html?adxnnl=1&adxnnlx=1190431726-OKondmphTaoqMJ4ezwd58w Wildman, Sarah. The Longest Shadow. Newsweek. October 15, 2007. http://www.newsweek.com/id/42490