Practical research assignment report outline Literature review

Down to earth research task report layout - Literature survey Example Today there are in excess of 10 million possums in Northland alone (Northland Regional Council, 2014). The populace has expanded for the most part attributable to the non-presence of any regular predators of this nuisance. Studies have been done to comprehend the effect of possum pervasion and fecal examination of the nuisances has demonstrated proof of winged animal predation particularly local backwoods flying creatures. Possums are a significant danger to nearby winged creatures, for example, the kokako and kukupa (Landcare Research, 2014). Possums are likewise a significant danger to the vegetation of New Zealand. It is evaluated that possums feed on very nearly 21,000 tons of vegetation each and every day (Landcare Research, 2014). Stoats are individuals from the Mustelid family which additionally incorporates weasels and ferrets. By 1880, New Zealand, had just experienced issues destructive vermin, for example, bunnies and rabbits. Stoats were imported from Britain and presented in New Zealand as natural control for bunnies. Today, stoats are broad in many pieces of New Zealand and have themselves become mammalian bugs. They are amazingly versatile to any everyday environments where they may discover food (Dept. Of Conservation Te Papa Atawhai, 2014). Stoats are a significant worry since they are a characteristic predator of a few local winged creatures of New Zealand, for example, the shrubbery canary (yellow head) and kaka. They pulverize the homes of the flying creatures as well as feed on their eggs and nestlings. This has prompted sharp decrease in the number of inhabitants in these timberland winged animals. In New Zealand three sorts of rodents the basic rodent, Pacific rodent and kiore rodent have been presented. Kiore rodents were presented by the Maori as wellspring of food. Anyway today, rodents represent a significant danger to the biodiversity of New Zealand since they feed on winged creatures, fledgling eggs and other little spineless creatures, for example, reptiles. Utilization of synthetics to oversee bugs has been end up being effective. In 2011, a proficient and others conscious toxicant Para-aminopropiophenone was presented. This

Sisterly Love Essay Example for Free

Careful Love Essay In Bernhard Frank’s artistic analysis, â€Å"Sophocles’ Antigone†, he presents the peruser with components of flawed thought process and inbreeding, not promptly observed by most. Straightforward basically accepts that Antigone’s evident desire to die originates from being the â€Å"ill-destined bride† (line 801) not of Haemon, but instead, of her expired sibling, Polyneices. Straight to the point says that, â€Å"it is as the lady of her killed sibling that Antigone may see herself† (Frank, pg1). Blunt utilizations Antigone’s lack of interest to Haemon and exorbitant love of her sibling as help for his contention. Forthcoming recommends that it is sensible to anticipate that Antigone should need to live to turn into the lady of the hour of Haemon. He says it would likewise be sensible to anticipate that Antigone should want for death in the event that she were the expected lady of the hour for Polyneices. Straight to the point goes much further with his interbreeding hypothesis in inferring that Antigone has depraved affections for her sister, Ismene. He makes reference to that the chorale in the play analyzes Antigone to her dad, â€Å"the brutal girl of a vicious father† (line 430) and that Creon says, â€Å"if she triumphs/and goes unpunished, I am no man-she is† (lines 439-440). Franks accepts that Oedipus had wrong expressions of love for his little girls and that Antigone, similar to her dad supposedly did, has an unreasonable love for Ismene. Plain brings up, that at long last when Ismene offers her help, Antigone turns her down and insults her as one may do an abandoned d arling. Candid feels that since Ismene has sold out her, Antigone is even more prepared to join her sibling in death. This is a genuinely elegantly composed article. Straight to the point utilizes a couple of explicit models and statements that make his contention justifiable, perhaps even convincing. Be that as it may, his is utilization of terms, for example, â€Å"may† and â€Å"could†, make the peruser question his responsibility for hypothesis. Apparently he is asking the peruser to simply think about his line of deduction, instead of truly convincing the peruser to accept as he does. So while Frank’s contention is positively intriguing, and will probably make a peruser stop and think about his hypothesis, it isn't probably going to prevail upon many. He just offers a couple of instances of why he feels as he does, and these models could without much of a stretch be deciphered in an unexpected way. Antigone’s detachment to her pledged isn't really demonstrative of her depraved love of her sibling, however just of her absence of genuine love for Haemon. Because she should wed him, doesn't imply that she needed to. She was embarrassed and terrified of the revile put on her family, and needed to get away from that. Wedding her cousin/uncle was positively not the best approach to end the family revile. Antigone’s treatment of her sister Ismene, isn't that of an abandoned darling, as Frank proposes, yet simply the hurt and outrage that her sister didn't decide to help her in any case. She didn’t need to share the brilliance that the divine beings would positively present to her with her undeserving sister. This was an occasion of kin competition, and Antigone was going about as a ruined youngster, yet not an abandoned sweetheart. Frank’s contention that Antigone resembling her dad is proof that she had perverted affections for her kin is ludicrous. While Oedipus committed inbreeding with his mom, he didn't realize she was his mom when he wedded her. Antigone has known her kin her whole life, and is exceptionally certain that she fears the family revile set moving by her dad, and needs to be free from it. Antigone might be solid willed like her dad, and may even have some manly attributes, for that timespan (tough ladies today are not viewed as manly), however that doesn't rise to inbreeding. Frank’s hypothesis is surely intriguing, worth considering and unquestionably reason for conversation. Notwithstanding, there sufficiently isn’t proof to back him up, and the proof he has is fortuitous, best case scenario. Works Cited Candid, Bernhard. â€Å"Sophocles’ Antigone†. Explicator 56.4 (1998): 170. Abstract Reference Center Plus. Web. 11 Dec. 2012. Sophocles. â€Å"Antigone†. Trans. David Grene. The Norton Introduction to Literature. Eds. Alison Booth and Kelly J. Mays. tenth ed. New York: Norton, 2010. Print. 1493.

The President Makes Grammatical Errors Too! Tenet vs. Tenant and Obamas Tucson Speech

The President Makes Grammatical Errors Too! Tenet vs. Tenant and Obamas Tucson Speech I got an email from my friend Seth Nowak on January 13, 2011 reporting, “Obama said ‘tenent’ in his speech last night.   One term president.” The speech to which Seth was referring is the moving, poignant speech Obama delivered following the shooting rampage in Tucson.   Obviously Seth was joking to me, The Essay Expert, that a small error like mixing up “tenet” with “tenant” would affect (not effect) Obama’s approval rating. Just a few days before, I had corrected Seth when he said “tenent” (or “tenant” he was speaking not writing, so I can’t be sure) when he meant “tenet.”   Thus he could not help but notice Obama’s slip of tongue. To clarify, “tenet” means “any opinion, principle, doctrine, dogma, etc., esp. one held as true by members of a profession, group, or movement.” A tenant, on the other hand, is a person, a group of persons, or an entity occupying a space, usually a rental space (my definition). “Tenent” is not a word in modern English, though in the interests of full disclosure, it is listed on dictionary.com as “Obs.” (Obsolete).   It does not appear anywhere in the dictionary on my shelf, Webster’s Ninth New Collegiate Dictionary (copyright 1987, the year I headed to college â€" and if that’s not obsolete, I don’t know what is). Obama’s spoken sentence was as follows: “They were fulfilling a central tenant[sic] of the democracy envisioned by our founders.” The transcriber was kind to our President.  The text “tenant[sic]” does not appear in the transcription; instead, the official version in The New York Times reads, “They were fulfilling a central tenet.” The day before Obama’s speech, I had put “tenant/tenet” on my list of Top 10 Grammatical Errors of 2011 (scheduled for publication in December 2011).   Why?   Because inside of one week in January, not including Obama’s speech, I heard “tenant” used incorrectly twice: once by Seth as reported above, and once in a draft of a law school application essay.   I won’t quote that essay here for reasons of confidentiality, but here’s an example of a sentence in a draft law school application essay I received a year ago: “The general tenants of my thesis was that developing a national childcare system would contribute to the economy and better the lives of all Canadians.” This sentence has two problems:   First, she meant “tenet”; and second, even if “tenants” were correct, the verb “was” is singular whereas “tenants” is plural.  This client was not accepted into any Canadian law schools, despite the fact that her errors were corrected.   She did get accepted in England. The moral of the story:   If you want to get into law school, or be elected for a second term, get straight about the difference between “tenet” and “tenant.”   I understand that “n” sound just wants to come out somehow, but try to keep it in check. So what do you think?   One term or two?   Perhaps that’s really the important question here.

Food Is Cheap, At Least Compared With 4 Years Ago By Dan...

Summary The article that I did was â€Å"Food is Cheap, At Least compared with 4 years ago† by Dan Charles. This article is about how the global food price index is going down, and has fallen to its lowest level in the last four years. It is saying that a lot of different foods are getting cheaper like grains, vegetable oils, sugar, and dairy products. So that means that CPI should decrease now since a family will be spending less money on those products. The only place where the prices are not falling is in the meat industry especially in the beef industry. That is because the supply for beef was decreased after a drought made the suppliers want to decrease the size of the herd. That in turn caused the producers of the beef to have expectations that the future was going to be bleak for them. So they decided to not spend as much in their planned investments. Now because of these past decisions; when the market rebounded it the supply was down. Another plus in the market that is currently happening in the U.S. right now is that the food industry is having harvests of corn and soybean that will break the records in the overall production and yield per acre. This has caused the grain prices to fall by almost half. This makes the producers of pork, poultry, and beef very happy. Their PPI has gone down, so they are getting their things that they need to feed their animals cheaply. Then they are selling their animals at a very high rate, higher than normalShow MoreRelatedDollar to Fall as World Currency12311 Words   |  50 PagesViewer discretion is advised. Hello. My name is Porter Stansberry. A little over ten years ago I founded Stansberry Associates Investment Research. It has become one of the largest and most recognized investment research companies in the world, serving hundreds of thousands of subscribers in more than 120 countries. You may know of our firm because of the work we did over the last several years – helping investors avoid the big disasters associated with Wall Street s collapse. WeRead MoreCase Studies: Sas Airline Ryanair80169 Words   |  321 PagesHow did the deregulation of air transportation in Europe foster entrepreneurial behavior and innovation in the European airline industry over the last twenty years? Case studies: SAS Airline Ryanair Master Thesis in Entrepreneurship and Dynamic Business Contexts Spring 2007 Supervisor: Hà ¥kan Bohman Entrepreneurship Master Program Authors:
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Theology of Missions - 1707 Words

THEOLOGY OF MISSIONS A Paper Presented to Dr. James B. King Liberty Theological Seminary In partial fulfillment Of the requirements of GLST 500 By Linda Priddy-Hundley February 28.2015 TABLE OF CONTENTS Introduction ii Old Testament Texts Relating to Missions 1 New Testament Texts Relating to Missions 2 The Nature of God and Missions 3 Two Aspects of Missions Theology: Ecclesiology and the Trinity 4 Two Key Motifs of Mission Theology 5 Mission Theology and a Missionary, Church Leaders, and Lay People 6 Bibliography 7 i Introduction†¦show more content†¦8 ------------------------------------------------- After the conversion of St. Paul, he began to preach to the surrounding Gentile nations, planting churches in many places. 7 Ibid, Moreau, 112-113 8 Acts 2, 10, 13 2 The Nature of God and Missions Referring again to the Latin term Missio Dei, translates to â€Å"a sending God† or â€Å"God’s mission† that everything originates in God, including missions. We must realize that His character and attributes are who He is, and God’s mission everything He does to establish His kingdom on earth.9 The nature of God seem to be centered around 1) His law and righteousness and 2) His mercy and salvation through Jesus. His desire is to see people from every race and nation come to Him; this is where the church is challenged to help make this happen through missions. ------------------------------------------------- God’s mission is not different from His nature. This is shown from the calling of Abraham, choosing Israel to witness of Him, sending â€Å"volunteers† as mentioned is the Old Testament section above, the coming of the Messiah, and sending the Holy Spirit to start the church in Jerusalem, the beginning of the Church Age. 9 Ibid, Moreau, 73 3 TwoShow MoreRelatedTheology of Missions2716 Words   |  11 PagesLIBERTY UNIVERSITY BAPTIST THEOLOGICAL SEMINARY Theology of Missions Submitted to Dr. Jeff Brawner, in partial fulfillment of the requirements for the completion of the course GLST 500 – D08 Global Studies Survey By Boyd Ouden November 29, 2015 Contents Old Testament and New Testament Texts Related to Missions 3 How God Relates to the Mission field 5 Themes and Patterns of Mission Theology 5 Understanding God through Suffering 5 Evangelizing in the Midst of SufferingRead MoreThe Church Mission : A Theology Of Mission839 Words   |  4 PagesThe church mission began with the love of God for the people. According to John 3:16 For God so loved the world, that he gave his only begotten Son, that whoever believes in him shall not perish, but have eternal life. God sent his Son out to the world to reconcile the people back to him. The key to theology of mission is man relationship to God and obedience to his will. According to global ministries, Mission is the story of God’s dealing with the world. It is the heart of Scripture, churchRead MoreMission Theology Of The Bible1203 Words   |  5 PagesIntroduction To understand â€Å"Mission Theology† we first have separate the two words. Mission is the vocation or calling of a religion organization, especially a Christian one, to go out into the world and spread its faith (Oxford Dictionaries). Theology is the study of God or the study of the nature of God and the relationship between the human and divine. In the textbook we use for class which is called â€Å"Introducing World Missions† we are told that the word â€Å"missions† (which ending with the letterRead MoreTheology of Missions Paper1440 Words   |  6 PagesA PAPER SUBMITTED TO IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE COURSE Theology of Missions Paper ICST 500 BY TABLE OF CONTENTS Introduction------------------------------------------------------------------1 Encountering Missions in the Old and New Testament-----------1 Mission Theology----------------------------------------------------------4 Effecting the People-------------------------------------------------------4 Conclusion------------------------------------------------------------------5 Read MoreImportance Of Practical Theology And Short Term Missions Essay1773 Words   |  8 Pagesfirst few pages to state the overview of the chapter. 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I will summarize how Escobars overall theological contribution either expands or challenges the theological perspectives ofRead MoreThe Doctrine Of The Trinity And Missions1323 Words   |  6 PagesThe doctrine of the Trinity and missions is articulated in Scripture. This section will demonstrate from Scripture that the Trinity and missions is essential to understanding God’s plan and purpose for global missions. The trinity is seen in the Father, Son, and Holy Spirit all involved in some aspect of sending. As stated above, God is a God of love and compassion and who is concerned to provide a way to reconcile sinners to Himself in order that He may be glorified by people from every tribe,Read MoreExegesis Of Evangelism And Evangelism Essay1485 Words   |  6 Pagesmedia as the conduit. However, this mission of evangelism is not initiated or done by Church; the church is joining God in the missio Dei (God’s mission). 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Markey, OP on October 12, 2015, at the Catholic Theological Union auditorium had highlighted essential insights and realizations regarding mission and culture in the cultural contextRead MoreLetter Sample Essay757 Words   |  4 Pages I am enthusiastic to apply for the Theology and Religious Studies Chair at the College of St. Scholastica. I am Dean of the Master of Arts in Religion (MAR) program at Community of Christ Seminary, Graceland University in Lamoni, Iowa. As Dean, I am an experienced teacher and collaborative administrator. I teach online graduate courses in theology and Christian ethics, as well as face-to-face undergraduate courses in religion on our residential campus. I am academic advisor for our MAR students

The Two Best Job Searching Methods Free Essays

There is no doubt that people who want to have a good life dream of a good job. Although it may seem us easy to find a job, people have to struggle so much for having a good job because of great competition about accept top position even average positions. There are various ways to find a job such as internet, direct application, newspapers, using connections or friends, networking. We will write a custom essay sample on The Two Best Job Searching Methods or any similar topic only for you Order Now In my opinion internet and networking are the two most of effective ways a finding a job. Internet is a constitution that is infinitely useful and serviceable when it used effective and correctly. Internet is a wide network what spans the world. It contains a lot of recruitment agencies, cooperation websites, association sites, newsletters and freelance job options and in the present day access to internet very easily. This also provides an opportunity to become an impressive job searching. Based on The Conference Board report , newspapers and online ads are used by 70% of all job seekers for recruitment (2006)p1. It was established a lot of websites in order to bring together job searchers with employers such as secretcv. com, kariyer. net, yenibiris. com, monster. com. All over the world engagement agencies are accepted by companies and employers. Nowadays, most of company advertise only this websites, and choose their workers by means of who appealed this websites with their CV. Especially large companies are not permit direct application for many positions. Another effective job searching method is networking. Communication and relations compose the basis of the network because many jobs are never advertised. Networking also comprises not only business networking websites but also friendships, exhibitions, shows, seminars, training. Firstly, let’s consider business networking websites such as linekedin. com, bni. com. Their aim is create a platform where professionals from all kinds of different industries can meet up, find jobs, new assignments, cooperation partners, experts and generate business ideas. With more people getting online now, business networking sites are attracting a great deal of attention for their role in bolstering professional relationships and facilitating new connections. Secondly, some companies organize seminars thus they explain about their business and accept graduated or students who suitable in order to their business. In this way more and more people are employed. According to Goodman, networking is the leader of job searching because it is on the success of 50% regarded in generally (2009)p2. I believe that networking is a giant world in its own right. How to cite The Two Best Job Searching Methods, Essay examples

The Oil And Petrodollar Connection to the Recent Military Conflict free essay sample

The Future of the Dollar as a Petrodollar. In this paper, I intend to assess the validity of claims that there is a definite connection between the petrodollar and recent military conflicts. I will also look at why the United States needs to keep the dollar as the global reserve currency to secure their global hegemony for the future and what other contenders for the role of reserve currency are emerging. The Petrodollar Connection with the Recent Military Conflict in Iraq There is a history of violence related to oil. A major example of this is World War Two. In 1945, Albert Speer, the German Armaments minister told his Allied forces captors that â€Å"the need for oil was certainly a prime motive† for Hitler to invade Russia even though Hitler had told the German people that the motive was to â€Å"save the western world† from barbaric and godless communists (Black, 2007). Now with the trade of oil linked so closely to the hegemony of the US, this history of violence is set to continue. We will write a custom essay sample on The Oil And Petrodollar Connection to the Recent Military Conflict or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page After World War Two, world leaders met at Bretton Woods to negotiate a new international monetary system. The front runners in the negotiations were the United States and the United Kingdom. John Maynard Keynes, the UK’s leading economist, called for more realist policies and believed that no national currency would be strong enough to be the global reserve currency. He suggested that a new currency would be created (which he called ‘bancor’) and that it would be administered by a world central bank. This did not fit in with the policies of the US and their leading economist Harry Dexter. The World War had left many countries in debt and the UK was no exception. The UK had borrowed money from the US in order to fund their participation in the war. Therefore, the US was able to get their way when it came to the matter of negotiating the future of the global currency at Bretton Woods. The US dollar became the global reserve currency at a price linked to gold. While the US did compromise on some matters, this was one thing they did not. This shows how important having the dollar as the leading currency in the international monetary system is to the US (O’Brien amp; Williams, 2010). While the US dollar is no longer linked to gold due to President Nixon breaking the link when a problem called the ‘Triffin Dilemma’ was uncovered, where there would not be enough gold to cover the amount of dollars there were outside of the US, the US dollar still remains as the global reserve currency to this day and the US have shown that they are prepared to use extreme measures in order for it to stay this way. From the 1970s when the link to gold was cut, the US dollar became an oil-backed currency. Many argue that this provides reason for the US to use extreme measures such as military intervention in oil producing countries (Clark, 2005). One of the key factors keeping the dollar as the global reserve currency is its unique position as ‘petrodollar’. This means that transactions for oil are made using the dollar. Through the process of petrodollar recycling, the US is able to sustain yearly current account deficits and fund its military supremacy amongst other things. So it is therefore important to the US to keep the dollar as the currency used to trade oil. After the cold war, Europe became more united and eventually a single monetary zone was created along with the euro currency. Before this, there was not another currency that could challenge the dollar to its throne of global reserve currency. On the 24th September 2000, Saddam Hussein announced after a meeting of his government that Iraq would begin the transition from using the dollar for its oil transactions to using the euro currency. This caused the US to make plans to ensure that this did not happen and to keep the dollar as the currency Iraq, one of the biggest oil producing countries in the world, used to sell oil (Clark, 2005). In 2003, the US military invaded Iraq under the pretence of them stockpiling Weapons of Mass Destruction (WMDs). As a UN report later concluded, there were no such WMDs present in Iraq (BBC News, 2005). William R. Clark argues that the real reason the US invaded Iraq was to secure the dollar’s global dominance (2005). It is of vital importance to the US economy to keep the dollar in its dominant position within the international monetary system. While countries keep large reserves of dollars, this effectively provides the US with free imported goods and services. Without this input, the US economy will struggle. Their central bank will have to start building up foreign currency reserves such as the euro which would mean trouble for their attempts at monetary management. The US would lose their subsidy of effectively free goods and services and the value of the dollar will come down dramatically (Gokay, 2004). This means that there is much more at stake in the Iraq war than publicised by the US government. It’s not just a fight against terrorism, or a fight to keep the US supplied with the oil it needs to continue its lavish lifestyle. It is a fight to keep the US in the position to have its debts denominated in its own currency that it has enjoyed for around 40 years. It is a war against Europe as well as it is a war against Iraq to try and see off the euro’s challenge to the dollar (Gokay, 2004). While it may have been the principal objective behind the Iraq war, securing the dollar’s position is not the only advantage the US gains from controlling the oil in Iraq. Firstly, it would mean they would control the oil supplied to Europe. This will ensure Europe’s loyalty to the US. Zbigniew Brzezinski warns in his book The Grand Chessboard (1997) of how a truly united Eurasia would be a major threat to US hegemony. This is because Eurasia is one of the biggest land masses, and is where much of the world’s supply of oil either comes from, or goes through. The economy of Eurasia would soon surpass that of the US and in turn, the military power will as well. If the US controls the oil to Europe then they will be able to control political decisions in Europe especially regarding relationships with countries in the Middle-East and the Far-East. Also, China is emerging as a potential major competitor with the US. At the moment China is going through what could be described as their ‘Industrial Revolution’ and are demanding large supplies of oil to power it. If the US controls the supply of oil to China at this stage, they could at least profit from their excessive use of oil, if not slow their growth down to stop China’s economy catching up with theirs. In December 2007, Iran the Organisation of the Petroleum Exporting Countries (OPEC’s) second largest member, had ceased trading its oil for US dollars. Instead it now trades its oil for most other major currencies with the euro being the predominant currency (Reuters, 2007). If we assume for now that the US did in fact invade Iraq to ensure they continue trading oil in dollars, you have to wonder what the US will do now Iran has stopped trading oil in dollars. It was a lot easier in the case of Iraq because they did not have the capability to strike the US with a WMD such as a nuclear weapon. The US could invade Iraq and only risk the lives of a very small minority of its citizens. Things are completely different in the case of Iran. This is because Iran has a much stronger military and could inflict a lot more damage to the US. Also, experts believe that it would only take a few months for them to build a nuclear weapon (BBC News, 2011a). This leaves the US in a difficult position as an attack on Iran to secure its oil would be too risky. The heart of Eurasia, the Caspian – Caucasus region, is geopolitically a very tense region. This is where the different social, political and economic traditions of Russia, Turkey, Iran and the Shiite and Sunni of the Islamic world all meet. However, this is the region which will be vital to the future of oil production due to its vast unexploited oil potential and the decreasing production of the North Sea and Alaska’s North Slope regions (Gokay, 1999). If the US can control the oil in this region, then this should secure the dollar’s position as the leading international currency for the foreseeable future. The geopolitics of this region is one of the main reasons for Iran to ask buyers of their oil for payment in euros instead of dollars. There is ongoing tension between Iran and Israel and with the US being the main source of Israel’s financial and political support, Iran wants to punish the US. Switching their oil trade to euros is a much more effective punishment for the US than an oil embargo (Gokay, 2004). Other Contenders to the Dollar’s Throne Paul Krugman (1995) speaks of the six roles of the dollar (See ‘Table 1’ below). They are based on Cohen’s 1971 model. Firstly the dollar is a medium of exchange or ‘vehicle’ in private transactions or an ‘intervention’ currency in official use as it is brought and sold by central banks. It is also a unit of account with many trade contracts being denominated in dollars making it an ‘invoice’ currency or a ‘peg’ as the par values for exchange rates are often stated in terms of the dollar. Finally, it is a store of value. For private agents it has a ‘banking’ role as they hold liquid dollar-denominated assets and for central banks it is a ‘reserve’ (Krugman, 1995). Table 1: Roles of an International Currency (Krugman, 1995) For a currency to take over from the dollar as the leading international currency, it will need to be able to fulfil all of the above roles. Looking at the first role, a medium of exchange for private actors, we can see that there is currently increased, yet still distant competition from other currencies. To fulfil this role a currency needs to have economies of scale. Back in 1978, Kubarych said â€Å"Since the dollar is the main currency for international trade and investment the dollar market for each currency is much more active than between any pair of foreign currencies. By going through the dollar, large amounts can be traded more easily† (Kubarych, 1978). At its peak, 95% of international trade was conducted in dollars. However, now this has fallen to around 55%. Even though there has been a rather dramatic decline in the denomination of international trade conducted using dollars, the euro is still a rather distant second and other currencies such as the British Pound, Japanese Yen amp; Chinese Yuan are even further behind in the field (Turk, 2011). One of the other most important roles for an international currency is it’s store of value as a ‘reserve’ held by foreign central banks. Table 2: Share of national currencies in total identified official holdings of foreign exchange, end of year (In percent)(IMF, 2010) As you can see from ‘Table 2’ on the previous page, accessed from the IMF Annual Report 2010, the percentage of dollars being held by other countries is slowly falling while that of the euro is increasing, meaning the dollar is starting to see competition from the euro in the role of ‘reserve’ as well as its role of a medium of exchange. Although, as you can see from ‘Table 2’, the euro still has a long way to go to overtake the dollar. There have been previous occasions when there was a scare that the dollar would be overtaken by a rival currency, once in the late 1970s and again in the early 1990s. However these scares were premature. However, this time around things could be different because of the existence of the euro as a plausible rival. Menzie Chinn amp; Jeffery Frankel state in their 2005 study that the euro could overtake the dollar as the top reserve currency by as early as 2020. They say in order for this to happen the countries within the EU who are not currently using the euro (including the UK) need to adopt the euro as their currency. Or even if not all of these countries adopt the euro, the dollar could still be overtaken if the US government continues to depreciate its value (Chinn amp; Frankel, 2005). Special Drawing Rights (SDRs) are another contender to the throne of the dollar. SDRs are allocated to member states of the International Monetary Fund (IMF) at a low cost. They do not represent a currency, but can be exchanged for the currencies of the IMF members. China has been the main driving force behind the push for SDRs to replace the dollar as the international reserve currency. While Chinn amp; Frankel (2008) argue that the euro is the main contender to the throne of the dollar, China believes that a reserve currency that is not connected to economic conditions and sovereign interests of any single country is needed. Also, accumulating a foreign-exchange exposure is another cost to countries of having a national currency as the leading international currency (Humpage, 2009). Conclusion I believe the best way forward for the world economy would be to switch to using a basket of currencies or something along the lines of SDRs instead of having the dollar as the leading international currency. We have seen the troubles of having the dollar as the reserve currency in the recent global financial crisis. It is a classic example of the saying â€Å"when America sneezes, the whole world catches a cold†. America’s economy was in trouble and this rippled through most of the globe. This was partly down to the vast amount of dollars the rest of the world has to keep in reserve in order to keep their economies stable. If we were using a non-national currency as a global reserve currency then I believe the recent global financial crisis would not have been as hard hitting. This, I believe, is because the monetary policies the US had to put into place to stabilise their economy made the dollars that countries held in their reserves worth less. However, I do not believe that the US will allow any other currency, be it another national currency or a non-national currency, take the dollars throne. This is because it would not be long after the dollar loosing its position as the leading international currency that the US would loose their hegemonic position. While having something like SDRs or Adam Smith’s ‘bancor’ as the global reserve currency would probably be better for the world economy, if the US was ever in a position where it was going to loose it’s hegemonic position, with the destructive power that it possesses, I don’t think it would go without a fight.