Philosophy-Licensing Parents Essay Example | Topics and Well Written Essays - 750 words

Philosophy-Licensing Parents - Essay Example The process of licensing individuals would inevitably hassle or perhaps devastate individuals seeking to participate in such an activity. However, LaFollette argues that this is the cost of protecting innocent victims from actions that Frisch classifies into four broad categories: (1) risks arising out of ignorance, (2) risks arising through physical or mental incapacity, (3) risks arising from willful misconduct, and (4) risks arising through negligence or inability to exert self-control over behavior (Frisch, 1981, p. 173). LaFollette’s case relies on proving two criteria for regulatory licensing: that â€Å"parenting is an activity potentially very harmful to children† and that â€Å"a parent must be competent if he is to avoid harming his children† (LaFollette, 1980, pp. 184-5). These two claims cannot be disproved: they are clear facts, as both LaFollette and Frisch acknowledge. Frisch also acknowledges the strength of LaFollette’s claim that regulation is â€Å"a fundamental task of any stable society† (Frisch, 1981, p. 173). Nevertheless, the dispute originates from whether parenting is analogous to other activities, or if it can be controlled by regulation. It may be that parenting cannot be modified or changed by any amount government control. LaFollette argues the prior restraint of licensing for drivers or physicians is â€Å"not terribly onerous† but that the â€Å"restricted activity is one which could lead easily to serious harm† (LaFollette, 1980, p. 189). These are the risks (that could happen) Frisch believes societies undertake licensing to reduce. Frisch proceeds to develop, based on his four categories of risks, a non-arbitrary distinction between parenting and other regulated activities. With respect to ignorance, there is no empirical reason to believe that with more knowledge of parenting (knowledge that can be taught descriptively anyway) parents will be more competent to raise a child in the same way

Critically analyse how the government debt problems initially faced by Essay

Critically analyse how the government debt problems initially faced by a few relatively small economies could trigger such a wid - Essay Example The issues referring to the economies affected by the crisis shall also be discussed in this paper in order to establish the impact of sovereign debt to the euro financial crisis. This paper is being carried out in order to establish an academic and analytical discussion of the European crisis, linking its causes with its eventual impact on a larger economic region. Body The European crisis significantly impacted on the European financial market. Various elements colluded in order to cause the European crisis, with the crisis more or less unfolding in smaller economies, including Greece, Portugal, and Ireland. The money market was significantly affected by the deterioration in market conditions which started in 2007 (European Central Bank, 2012). The interbank markets are usually subjected to counterparty risk. The collapse of Lehman Brothers in 2008 led to lower confidence in the market, which then caused issues in financial integration (European Central Bank, 2012). Such event trig gered the increase in cross-country dispersion in overnight rates, as well as lower interbank market activity. Although measures to address market tension were implemented by the European Central Bank, the tension re-emerged in 2010 due to pressures in euro government bond markets (European Central Bank, 2012). More remedies were implemented by the ECB which helped improve the money market in the euro area. However, in 2011, more pressures on the euro sovereign bonds caused issues in market integration. Such deterioration also became apparent in the secured financial market. In 2011, the ECB once again introduced remedies to ensure liquidity support for financial institutions (European Central Bank, 2012). Price-based remedies implied deterioration in the integration of the money market, specifically for short maturities. Integration gains which were expected after the bailouts were reversed by the crisis. With longer maturities, the measures of integration seemed to be stable; howe ver in 2011, these measures actually indicated deterioration (Dadush, et.al., 2010). The sovereign bond markets went through significant tension in 2011. During the onset of the financial crisis in 2010, only three smaller countries were severely affected; however, in 2011, the larger countries were soon affected, especially in terms of their bond yields (European Central Bank, 2012). Moreover, market declines in sovereign yields could not be reached with the implementation of fiscal adjustments, as in the case of Ireland. Improvements in the sovereign bond market were evaluated based on simultaneous movements in yields. Europe for the past 2-3 years has been faced with a very serious crisis (European Commission, 2010). The bond market has already been closing to the euro-area countries, and for those who are still open, they are charging high rates of interest for any loans or investments. The increase in bond yields is based on the fact that where investors view more significant r isks associated with their investments in a country’s bonds, they would also likely need higher returns in compensation for such risks (European Commission, 2009). An unfavourable cycle often ensues from this situation as the demand for higher yields would lead to higher costs in borrowing for the country. This causes financial issues