Comparable Worth Compared to Equal Pay

Comparable worth is shorthand for equal pay for work of equal value or equal pay for work of comparable worth. The doctrine of comparable worth is an attempt to remedy the inequities of pay which result from a long history of sex-segregated jobs and different pay scales for female and male jobs. Market rates, in this view, reflect past discriminatory practices, and cannot be the only basis of deciding current pay equity. Comparable worth looks at the skills and responsibilities of different jobs and attempts to correlate compensation to those skills and responsibilities. Comparable worth systems seek to fairly compensate jobs held primarily by women or by men more equitably by comparing the educational and skill requirements, task activities, and responsibility in different jobs, and attempting to compensate each job in relation to such factors rather than by the traditional pay history of the jobs. Equal Pay vs. Comparable Worth The Equal Pay Act of 1973  and many court decisions on pay equity revolve around the requirement that  the work being compared be equal work.  This approach to equity assumes that there are men and women in the job category and that they should not be paid differently for doing the same work. What happens when jobs are distributed differently, where there are different jobs, some held traditionally by mostly men and some held traditionally by mostly women?  How does equal pay for equal work apply? The effect of the ghettos of male and female jobs is that often, the male jobs were traditionally compensated more highly in part because they were held by men, and the female jobs were compensated less well in part because they were held by women. The comparable value approach then moves to looking at the work itself: What skills are required? How much training and education? What level of responsibility is involved? Example Traditionally, the job of a licensed practical nurse has been held mostly by women, and the job of a licensed electrician mostly by men.  If the skills and responsibilities and required training levels are found to be relatively equal, then a compensation system involving both jobs would adjust compensation to bring the LPNs pay into line with the electricians pay. A common example in a large organization, like state employees, might be outdoor lawn maintenance compared to nursery school aides.  The former has traditionally been done more by men and the latter by women.  The level of responsibility and education required is higher for the nursery school aides, and lifting small children may be similar to lifting requirements for those maintaining the lawn who lift bags of soil and other materials. Yet traditionally, the nursery school aides were paid less than the lawn maintenance crew, probably because of the historical connections of the jobs with men (once assumed to be breadwinners) and women (once assumed to be earning pin money).  Is the responsibility for a lawn of more value than the responsibility for the education and welfare of small children? The Effect of Comparable Worth Adjustments By using more objective standards applied to otherwise-different jobs, the effect is usually to increase pay to the jobs where women dominate in numbers. Often, the effect is also to equalize pay across racial lines as well, where jobs had been distributed differently by race. In most actual implementations of comparable worth, the pay of the lower-paid group is adjusted upwards, and the pay of the higher-paid group is allowed to grow more slowly than it would have without the comparable worth system in place.  It is not common practice in such implementations for the higher-paid group to have their wages or salaries cut from current levels. Where Comparable Worth Is Used Most comparable worth agreements have been the result of labor union negotiations or other agreements  and are more likely to be in the public sector than the private sector. The approach lends itself better to large organizations, whether public or private and has little effect on such jobs as domestic workers, where few people work in each workplace. The union AFSCME (American Federation of State, County, and Municipal Employees) has been particularly active in winning comparable worth agreements. Opponents of comparable worth generally argue for the difficulty of judging true worth of a job, and for allowing the market forces to balance a variety of social values. Bibliography Linda M. Blum. Between Feminism and Labor: The Significance of the Comparable Worth Movement. 1991.Sara M. Evans, Barbara N. Nelson. Wage Justice: Comparable Worth and the Paradox of Technocratic Reform. 1989, 1991.Joan Acker. Doing Comparable Worth: Gender, Class, and Pay Equity. 1989, 1991.Helen Remick. Comparable Worth and Wage Discrimination. 1984, 1985.

What Is a Compound Adjective

A compound adjective is made up of two or more words (such as part-time  and  high-speed) that act as a single idea to modify a noun (a part-time employee, a high-speed chase). Also called a  phrasal adjective or a  compound modifier. As a general rule, the words in a compound adjective are hyphenated when they come before a noun (a well-known actor) but not when they come after (The actor is well known). Also, compound adjectives formed with an adverb ending in -ly (such as rapidly changing) are usually not hyphenated. Examples and Observations You know, everybody thinks we found this broken-down horse and fixed him, but we didnt. He fixed us.If nothing else works, a total pig-headed unwillingness to look facts in the face will see us through.The general was meeting someone for dinner at an out-of-the-way restaurant, not in the suburb of Nanterre, but close by.A well-developed sense of humor is the pole that adds balance to your steps as you walk the tightrope of life.​  (William Arthur Ward) Hyphenation With Compound Adjectives Interestingly, hyphenation is also used creatively to indicate that an idea that would normally be expressed by a phrase is being treated as a single word for communicative purposes because it has crystallized in the writers mind into a firm, single concept. Thus, for example, the expression simple to serve is normally a phrase, just like easy to control. But it can also be used as a hyphenated word as in simple-to-serve recipe dishes... (MS Magazine 1992) Adverbs that do not end in -ly may take the hyphen to form a compound adjective. The reason is obvious. A fast-moving script suggests a roller-coaster plot while a fast-moving script might have pace but it is emotionally charged (i.e., emotionally moving) at the same time. ​​The Lighter Side of Compound Adjectives: Laser-Focused Will somebody explain to me why every focus is now laser-focused? Lasers can guide, ignite, heat, drive, and print, but focus? This is the hottest compound adjective around today, leaving all other focuses fuzzy. In Enrons 2000 annual report, the company claimed to be laser-focused on earnings per share, at which point I should have become suspicious. Also Known As Phrasal adjective, unit modifier, compound modifier Sources Seabiscuit, 2003Stephen Fry as General Melchett in Private Plane.  Blackadder Goes Forth, 1989Robert Ludlum,  The Bourne Identity. Richard Marek Publishers, 1980Bruce Grundy,  So You Want to be a Journalist?  Cambridge University Press, 2007William Safire,  The Right Word in the Right Place at the Right Time. Simon Schuster, 2004

What is the role of hedge funds in the financial market Free Essays

There has been rapid growth in the number of edge funds and their assets under management, suggesting they provide economic value to investors that is not available in other investment instruments. Their main aim is to reduce risk and volatility whilst attempting to preserve capital and deliver positive returns under all market conditions. They used a range of aggressive methods to invest in a wide array of assets to generate returns which have a very low correlation with traditional asset classes, creating a diversifying effect on a portfolio. We will write a custom essay sample on What is the role of hedge funds in the financial market or any similar topic only for you Order Now This means they get a constant level of return, regardless of what the market does. Hedge funds tend to be illiquid as investors are limited in terms of when and how much money they are able to take out, therefore they are long term propositions. Originally, hedge funds were not subject to the public disclosure or regulatory reporting requirements that apply to other financial institutions, thus they had little or no regulatory oversight. But since the financial crisis, more regulations have been introduced, such as reporting under AIFMD; The Alternative Investment Funds Managers Directive. Also, from February 2014, they will have to report under Emir. Policy director in the BBA’s Capital Market and Infrastructure division, Andrew Rogan, recently said â€Å"If [funds] don’t comply with Emir, there are real consequences to how a business can use derivatives to protect itself from risk†¦ and you may even be shut out of the market completely. † The purpose of regulation is to protect investors. Although an element of secrecy between funds is kept in order to keep investment strategies to themselves, they can’t do whatever they like with other peoples’ money, so regulation had to be introduced. Markets function best when investors use ifferent information and strategies to manage, or hedge against, risk. Private investment companies provide valuable liquidity to financial markets in normal market conditions. In â€Å"Hands Off Hedge Funds†, Sebastian Mallaby states that â€Å"by buying irrationally cheap assets and selling irrationally expensive ones, they shift market prices until the irrationalities disappear, thus ultimately facilitating the efficient allocation of the world’s capital. † (Mallaby, 2007). Consequently, hedge funds can be less volatile than individual stocks or mutual funds. With the freedom to nvest wherever the managers believe they can perform better than the market, hedge funds broaden the use of investment strategies, increasing the number of investors, and enlarging the capital pools available and strengthening capital markets. Through flexibility, they are able to trade different securities in several markets at once, so opportunities for returns are maximised, improving risk management and encouraging innovation ot strategies, as well as financial products and services. There is also a competitive advantage as hedge funds attract human nd financial capital, contributing to a stronger economy. They can act as an incentive for businesses and individuals to invest because they offer the chance for money to be invested in a range of products, free from fraud and over-regulation, and increases in investment can influence economic growth and stability. Hedge funds also improve the efficiency of capital markets by helping to price securities more accurately. This minimizes market distortions, which in turn leads to better allocation of capital, financing growth, innovation and Job creation. Short selling, for example, may be a technique used by hedge funds and is sometimes seen as playing an essential part of the price discovery mechanism. Some researchers believe short interest is an indicator of poor stock performance, and that short sellers exploit market mistakes. Hedge funds have many different benefits such as diversification, flexibility and liquidity, but to the larger financial system they can provide innovation, reduction of mispricing, gains in both growth and employment, and the provision of capital for technological and economic development. How to cite What is the role of hedge funds in the financial market, Papers

an eye for an eye Essay Example For Students

an eye for an eye Essay An Eye For An EyeBoth detectives held a gun, but neither of them could shoot at Richards. The gunman was hiding closely behind his hostage and exposing little of his body to them. Smith knew he couldnt risk a shot. There were too many people in the tavern, and most of them were behind Richards. He might hit one of them if he missed the gunman. And he probably would miss. The target being offered to him was much too small. Smith glanced at his partner, Mary Scott. She was a very good shot. She was capable of hitting a small target at this range. She was the departments pistol champion, and she could consistently hit a quarter at thirty feet with the gun she carried. But she was in an awkward position at the moment. There were several people between her and Richards. She needed time to get around them. But she was slowly weaving her way through the crowd and moving closer to the ex-con who was holding a gun to the old mans head. If she could get into a better position, and if Richards gave her even the smallest target, she would put him down. Smith realized that he had to buy her some time. He had to keep Richards occupied until she was in the clear. He spoke soothingly to the gunman. Richards, youve killed one man already tonight. Dont make it worse by doing it again. That wiseguy had it coming, Richards responded. If he hadnt made me mad, I wouldnt have killed him. Maybe we can make a deal, Smith said. If you surrender now, Ill tell the judge that you said you did it only because you were angry. No, Richards shouted. No deals. If I have any business with you, itll be to blow you away. Smith glanced at his partner again. She needed only a few more seconds. Richards, we dont want to shoot you, we only want to help you. Tell me how we can do that. Just let me take a shot at you. If youll let me do that without shooting back, Ill be satisfied. When Mary Scott reached the pool table, she looked at Richards. She was now within ten feet of him, and no one stood betwee n them except the hostage. She assessed her chances of hitting Richards at that range. It would be easy if only a little more of his head was showing. But he wasnt exposing his head to her, and thats where she had to place the shot. If she hit him anywhere else, he might pull the trigger before he died. If he did that, the old man would also die. There was a terrible stillness as Richards shifted his eyes between Mike Smith and Mary Scott. He did it slowly. He sensed that if he moved too quickly, or did the wrong thing, one of these cops would risk taking a shot at him. He started to back toward the door, dragging his hostage with him. Smith looked at Richards over the sights of his gun and said, Dont do it, Richards. Its a fools move. If youll just drop the gun, no one will be hurt. I promise you that. Richards grinned. Drop dead. The old man was terrified. He didnt say a word as the ex-con pulled him toward the door, but his eyes begged the two cops to do something anything to s ave him. As Richards inched toward the door, Smith and Scott followed. The gunman looked at Mary and swore. Ill kill this guy if either of you come any closer, he said. Mary responded. Dont do that, Richards. If you kill him, well drop you on the spot. Richards laughed strangely. All I want to do is get outta here. If you dont let me do that, Ill kill all of you. Mary looked at the crowd. Everyone was nervous. A few of them were close to panic. One woman was anxiously looking toward the door, and Mary thought she might run toward it at any moment. Mary didnt want her to do that. 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Alfred Prufrock Essay Thesis