KKRs Acquisition of Alliance Boots Case Study Example | Topics and Well Written Essays - 1000 words

KKRs Acquisition of Alliance Boots - Case Study Example Besides the case which would be taken up for discussions, it is necessary to take up the case of KKR's purchase of RJR Nabisco, a food products manufacturing company. After the announcement of the deal being successful, RJR's stock price shot up from $ 55 to $ 77.25, a spectacular rise by any standards (Brigham & Ehrhardt, P.1000). During early times, the guiding principles for takeover were in terms of restructuring fully developed companies, acquiring them, and later on, disposing them at good margins, when they are able to provide profitable business. However, nowadays - these considerations are not taken into account, and what is merely important is the takeover of a larger company, preferably by a private equity, in order to utilize its assets for payment of creditors of the acquiring company. The method of experiencing acquisitions through LBO is widespread, and has given rise to private equity being termed as people who wish to liquidate the Company's production capacity, in order to pay off the post taken debts and obligations. Alliance Boots is being seen as the first FTSE Company to be acquired by private equity company, KKR, although earlier the latter had also acquired AFR Nabisco, a prominent food products manufacturer. On March 12, 2007, Alliance Boots was contacted by New York based private equality mogul, Kohlberg Kravis Roberts & Co., (KKR) for levered buyouts (LBO) for a record sum of 11 Billion. It is seen as the biggest European LBO deal ever struck and the underwriters even agreed to lengthen the period for Investor to stake claims in it. This move could be seen in terms of KKR's recent acquisition of the UK Retail chain, Alliance Boots, which was undertaken in conformity with the largest shareholder, Stephan Pessina on the condition that Mr. Pessina would just assume control in the newly acquired company. Modus operandi of LBO The mode of acquisition would be in terms of identifying companies, which had high cash flows, but lacked suitable avenues for investments. Through loans, these commercial debts would purchase majority interests in firms at higher than market rates. After this, the acquired company would have to take over the liabilities of the acquiring company, or the acquiring company would take loans by pledging the acquired company's assets etc. as security. Thus, it was possible to gain entry into very large corporations through the use of acquisition techniques. Over the years, it is seen that acquisitions now cease to have real value, since any company, however large, could be

Israel from Palestinian territories Essay Example for Free

Israel from Palestinian territories Essay Egypts was in support of the Declaration of Principles treaty as they interpreted it to be supportive of their ideologies ion what would bring a lasting peace to the Middle East. The fact that the declaration transferred power over west bank and Gaza was in accordance with Egypts belief that the withdrawal of Israel from Palestinian Territories was the key to a lasting peace (Brown, 2004). Egypt thus responded by doing what was expected of it during the agreement as they believed that the declaration would bring a lasting peace if both sides kept to their side of the bargain. The Declaration of Principles required Egypt to help the two nations in cooperating so as to achieve the peace that was longed for in the Middle East. Egypt also supported the declaration as it included maintenance of security though by only Israel. Egypt has always believed that security was vital for peace hence supported by helping provide police officers and passports to the Palestinian citizens as was required by the agreement. Countries such as Iran, Israeli Settlers and Syria did not participate in the agreement as they did not believe that the peace would last. Others thought that the agreement was a threat to them and did not want it to succeed. Most of these nations also are Islamic and view Jews to be a threat to their religion hence were hesitated in supporting the peace talks. Most groups believe that DOP process stopped in 2000 which could be true as the events that are currently happening violate the agreements made. Egypts foreign policies are also committed to ensuring that a lasting peace which is comprehensive can come to the Middle East. It does so by being involved actively in the efforts that that can achieve the peace. Egypt for example was the first Arab nation to sign a peace treaty with Israel, a move which caused Israel to be expelled from the Arab League (Embassy of Egypt, 2009). The treaty required Israel to completely withdraw and retreat from Sinai in 1979 in exchange for peaceful normal diplomatic relations according to which Israeli honoured and withdrew. The two countries have since then had good diplomatic relations that are peaceful (Embassy of Egypt, 2009). Egypt believes that peace can only come to the Middle East if the efforts being made are comprehensive at making Israeli withdraw from the Palestinian territories it has been occupying that prevent the creation of an independent Palestine. Egypt also believes that Israel has to recognize and respect Palestines political rights in the controversial Jerusalem. Egypt has therefore been at the forefront in constantly assisting the partners negotiating in the peace process towards applying the Israeli withdrawal for peace to be achieved (Embassy of Egypt, 2009). Egypt also believes that it is possible for stable peace to be achieved between Israel and Palestine if mechanisms can be adopted that would ensure that security is maintained by both parties so that one party can not take advantage of its economic and military superiority to attack the other party. Egypt proposes the region to be freed from weapons of mass destruction in order to enhance security and reduce attacks on each other (Embassy of Egypt, 2009). Egypt further explains that a framework that would ensure regional cooperation needs to be established as it would enhance peace stability and benefit the individuals in the region. As discussed above, Egypt believes that there is possibility for potential future peace agreement which may be solely between Israel and the Palestinian because the disruption of peace in the entire Middle East is attributed to the conflict between the two nations. The conflict between Israel and other Arab nation is also a result of the conflict between it and Palestine. Solving the conflict between Israel and Palestine thus is the answer to bringing peace in the Middle East. Egypt advocates for peace between the two nations and want it be such that security is maintained in the two nations and that they are both disarmed of any weapons of mass destruction. Egypt believes that it is lack of security and presence of the weapons that encourages the two nations to attack each other. Egypt also advocates for the establishment of a framework as discussed earlier that would enhance cooperation between the two nations towards promoting peace stability that will be beneficial to the people I n the region (Brown, 2004). If a peace conference was held today, Egypt would still support a peace deal between the two nations. Egypt supports a two state solution just like the United States does (Asharq Alawshat, 2009). This is because Egypt believes in bringing a comprehensive and lasting peace to the Middle East. Following the most recent attacks on the Gaza strip by Israel which left hundreds of Palestinians dead, and the persistent occupation of Israel in areas that are rightfully Palestinians, Egypt would want a peace deal to be reached in which Israel must retreat and withdraw from occupying these areas so that Palestine can become an independent state as it was before the Israel occupation of its territories (Asharq Alawshat, 2009). Egypt will not accept either Israel or Palestine to own weapons of mass destruction as this would easily trigger another conflict in the event a peace agreement was reached. This is so as to stop the two nations from carrying on attacks and bombings on each other. Egypt would also not accept the deal if Israel did not withdraw from the Palestinian territories it currently is occupying. Egypt would offer diplomatic support as it always has in reaching a peace deal between the two nations (Brown, 2004). Egypt would be ready to act as a mediator between the two nations as they negotiate as it has good relations with both of them. Egypt believes that Israel should recognise Palestines rights regarding Jerusalem, during the peace conference, it would advocate for the recognition to be included in the terms of the final peace deal as Jerusalem is important to Palestine just as it is to Israel. Egypt wants a lasting peace in the Middle East and would do everything it can to help achieve it. Word count: 1500. References Al-Azmeh, A. (1993). Islams and Modernities. New York: Verso. Asharq Alawshat. (2009). Latest News. Retrieved 109th May 2009 from, http://www. asharq-e. com/. Breasted, J. Piccione, A. P. (2001). Ancient Records of Egypt. Chicago, Illinois : University of Illinois Press. Brown. C. L. (2004). Diplomacy in the Middle East: The International Relations of Regional and Outside Powers. New york, NY : I. B. Tauris. Embassy of Egypt. (2009). Political System. Derived 19th May 2009 from http://www. egyptembassy. net/.

Role of the US President

Role of the US President Who Wants This Job? Government 2305: Professor: John Sutter Student: Cathy Lynch Date: March 18, 2015 Who Wants This Job? Would you want to be President of the United States of America, Why? We hear and read political news from the television, radio, internet, special interest blogs, news papers and magazines, for those who still read hard copy printed material, and of course Barbra-shop gossip. After listening to what sounded like tongue and cheek, total organized chaos, back-biting, mudslinging, political undermining pitting party against party issues against issues, dealing with millions of other people’s lives in totality for generations to come †¦etc, the proverbial question seem fitting to ponder, Who wants this job and why? This essay sets out to investigate by reviewing articles, books, video commentaries and documentaries of individuals who may consider being president of the United States of America. First let’s look into the prerequisites in order to become president of the United States. According to our Constitution, Article II, Section 1, which place minimal requirements seem like the best place to start. The U.S.Constitutionâ€Å"Article II Section 1 Clause 5 expresses â€Å"No Person except a natural born Citizen, or a Citizen of the United States, at the time of the Adoption of thisConstitution, shall be eligible to the Office of President; neither shall any Person be eligible to that Office who shall not have attained to the Age of thirty five Years, and been fourteen Years a Resident within the United States. (Roland 2008) A little fun fact, on who was the youngest and eldest president to service USA: Theodore Roosevelt (42 years, 10 months, 18 days) Ronald Reagan (69 years, 11 months, 14 days) (Rosenberg n.d.) Only native-born U.S. citizens (or those born abroad, but only to parents at least one of whom was a U.S. citizen at the time) may serve president of the United States. Of course, like many things there are from time to time requirements are called into question, such as most recent current event the potential 2016 presidential candidate Sen. Ted Cruz (R – Texas).† (Trethan n.d.) One of his parents is from another country Cuba, the other is a native-born U. S. Citizen, and yet they resided in Canada where Ted Cruz was born making him to posses multiple citizenships [Canadian, American and Cuban].Would this be a hindrance or an asset to American if he were to be elected as President? Actually the reality is our Constitution indicates native born. However, Ted Cruz, isn’t the first, nor the last to have their citizenship questioned. For an example Obama, Kenya or Hawaii? Term limit amendment according to US Constitution, Amendment XXII, Section 1 ratified February 27, 1951 states, No person shall be elected to the office of the President more than twice, and no person who has held the office of President, or acted as President, for more than two years of a term to which some other person was elected President shall be elected to the office of the President more than once. (Hickok n.d.) But there are much more for a potential president nominee to be considered. We Americans are very demanding. We want what we want, and we want it NOW; if we don’t get it, we won’t stand behind the leader of the band, [the President]. A good example is when Ben laud in was captured; all praise was given, but then a few months down the road, we turned our backs on the President because we didn’t like what he did on another issue. After all, the President is a mouth piece for our country, the leader of the executive branch of the federal government of our grand country, the head of state, head of government, the commander-in-chief of our military armed forces. He makes laws, has the power to veto them, a leader of a vast economy and nuclear arsenal responsibilities to know when to hold and when to fold, as they sing in the country and western song the Gambler. He sometimes has to gamble with people’s lives too. Would you consider the position of presidency as the most powerful held position a person could hold in the world? This job requires one in power to execute of federal law, appoint other political executive, and judicial officers. The president comprises therein treaties with foreign powers with the help of the Senate, which may or may not be of his own party. He’s also the person that takes the heat when separate powers don’t want to play ball due to special interest group contributions, and other enticements. He must be well connected in order for fundraising for campaigning, to get elected, re-elected and other expenditures. He must possess the power of persuasion, have thick skin. Hey the political arena can be brutal and strip one to the bone and hang them out to dry without a blink of an eye. Who would and why would someone put them self and family through such torture? For the good of the nation or is there more too it? What does the President get in return for four year term of service? From the very beginning of our great nation’s first constitution to now most leaders are already wealthy and set well in life and business. So becoming a federal leader for the pay isn’t much of a motivator being the president currently collects the amount of $200.000 $500.000 annually for services rendered, depending on the president, of course. Thanks to Clinton who signed legislature to provide the presidency their first pay-raise since 1969 from $100.000 to $200.000. (Howstuffworks 2000). That seems like a lot to us average income earners doesn’t it? But if you think about their expenses, and all they are required to do, even with an expense account of $50,000.00, that amount doesn’t go very far. Actually they make more than that in their private lives of business. So what’s the motivation to become President? There’s free housing in the grandest best well kept house in the nation, the white house; unlimited access to Camp David, Travel and meet with very important, influential people and other nation leaders. But also keep in mind, they are putting their lives on the line every time, in spite of body guards around the clock and everywhere they go. They live under a microscope too; also one can never please everyone. There is always something brewing, scheming and always a problem to fix and improvements to be made if they can get the opposing party to comprise. They have the weight of the World, Our Nation, Congress, Constituents, not to mention their own personal family upon their shoulders. When the president decides to retire they receive some lifetime and some time restricted benefits. However, they do have an option to relinquish these benefits and services. Post presidency, what is it like? Life after being a president has its reward system well in place. The United States have had eight presidents meet their demise while in office. Four of those were assassinated, (Abraham Lincoln, James Garfield, William McKinley and John Kennedy). One president resigned (Richard Nixon), and two presidents were impeached, (Andrew Johnson and Bill Clinton), though not convicted. (2000Josh Clark). As a rule most presidents serve one to two – four year terms; then either get re-elected, defeated or retire. Living in such intensity under a microscope some retire out of the public lime light. Other’s profit from their published and distributed memoirs, some get involved in speech circuit, and some utilize their distinction toward business improvement, as Jimmy Carter is known for being the most successful post president. However, not all post presidents get out from public eye, instead they may continue to move forward by being nominated into the House of Representatives or Supreme Courts. As in the early times, the departing presidents would merely pat upon the back, given an Atta boy; when the Former President Act (federal law) was expedited by Congress back in 1958 this act was to provide an annual pension of $25,000. Of recent, according to an article posted on the About News website post president’s pay and compensation consist of the receipt of several lifetime benefits which entitle them to: Annual pension An annual pension of $400,000 which is equal to the executive head level I. In addition to their spouse who also receives an annual pension of $20,000., providing they do not accept additional benefits. This benefit start immediately upon the vacating their presidential position. Staff and office expenses – Transitional fund, are labeled for expenditures of vacating the office available up to seven months (It covers office space, staff compensation, communications services, and printing and postage associated with the transition). However in addition to the transitional fund, there is also revenue provided for the departing president’s private staff and office thanks to the Administrator of General Services Administration. Medical care or health insurance Post presidential is entitled to medical treatment in Veteran’s hospitals thanks to Management and Budget Office charges are discounted by interagency rates. Two-term presidents have an option to purchase medical insurance provided by the Federal Employee Health Benefits Program Secret Service protection—Post presidential and their family members use to be entitled to a lifetime of secret service protection. Then when Clinton was post president the SSP were only for ten years. However, current president Obama signed legislation reinstating lifetime protectionin 2013 for him and other post presidential. (Longley 2014) We have covered a lot about why anyone would want to be president, but we hadn’t mentioned anything about their political aspects, admirations and goals to further our country into all its glory, an improved nation. Nor have we mentioned anything about We the people being considered or being the main focus. Though, we are certain being these men and women of today’s political world have many fires to start and to put out being the great successful leaders that they are have us in mind, have our country in mind. After all, it’s their country too and they live in it too. They are not above the law even though they may receive extra perks here and there†¦ It merely proves these intelligent leaders, know what they want earlier on in their life, because politics is a lifelong commitment; as simple as step 1, 2 3; to get your foot in the door, to follow, to rule, to lead, and to succeed as an individual as well as a country. Would you want this job? Why or Why not is something amazing to ponder? It’s not the kind of job a lazy person, that is uneducated, lack morals, and integrity to embark upon. It is a position of distinction, reverence and money, keen communication skills, the ability to persuade and work well with others, know the law, and how to select their supporters to help manage the Oval Office and foreign affairs, an innovative thinking and producer of excellence. This is why everyone should vote in all elections local, state as well as governmental levels. Obama stated this morning on telecast news on channel 8, if Everyone would vote the results would outnumber the money. It is crucial to arm one’s knowledge banks regarding worldwide politics, voice ones opinion by voting. It is our right, and a privilege we may not have in the future, if not exercised now and every time there is an election. References Hickok, Eugene. Amendment XXII . http://constitutioncenter.org/constitution/the-amendments/amendment-22-presidential-term-limits (accessed March 13, 2015). Howstuffworks. August 21, 2000. HowStuffWorks.com. http://money.howstuffworks.com/question449.htm> (accessed March 17, 2015). Longley, Robert. Presidential pay and Compensation. April 22, 2014. http://usgovinfo.about.com/od/thepresidentandcabinet/a/presidentialpay.htm?utm_term=Benefits of Being Presidentutm_content=p1-main-4-titleutm_medium=sem-relutm_source=msnutm_campaign=adid-928de88a-d94c-40b9-b35c-49ea4f7fca65-0-ab_msb_ocode-28810 (accessed March 15, 2015). Roland, Jon. Presidential Eligibility. April 13, 2008. http://www.constitution.org/abus/pres_elig.htm (accessed March 17, 2015). Rosenberg, Jemmofer. About Education 20th Century History Expert. http://history1900s.about.com/od/worldleaders/a/youngpresidents.htm (accessed March 17, 2015). Trethan, Phaedra. Requirements to Service as President of the United States Now accepting Applications. Edited by Phaedra Trethan. Camden Courier-Post. http://usgovinfo.about.com/od/thepresidentandcabinet/a/presrequire.htm (accessed March 14, 2015).

Evolution vs Intelligent Design Essay -- Evolution and Philosophy, 201

The suggested separation between church and state in contemporary America is not what the framers of our constitution and our country had in mind as they wrote the words â€Å"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof.† After deconstructing the words, the most insignificant adjective â€Å"an,† tells us that the framers wanted to restrain Congress from installing any one religion as the official religion of the state. Those immortal words say nothing about religion informing congress or society on policy, education, or progress. I maintain that the first amendment’s establishment clause regarding religion was to protect citizens’ free exercise of religion from state interests and not to protect state interests from religion. So while the idea of separation between church and state is aged, it is also radically inaccurate and a misinterpretation of the first amendment. In fact the assum ed existence and enactment of such a radical ideal has caused a violation of the ninth amendment as well which states, â€Å"The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.† I ascertain that restriction in education against material because of its source, intelligent design’s (ID) link to creationism in this case, is a violation of the first amendment’s free speech clause and further misinterpretation of the first amendment to exclude material because of its arguably religious source is a violation of the ninth amendment. For these reasons in this document I am going to assess popular evolutionary theory versus the ID argument to expose both as religious worldviews that should be taught not in science class but... ...es. Reprint of sixth edition PF Collier, New York, 1900 Appleman, Philip. Darwin. Norton & Company, New York, 2001 Segers, Mary and Ted Jelen. A Wall of Separation? Rowman & Littlefield, Maryland, 1998 Miller, Kenneth. Findings Darwin’s God. Cliff Street Books, New York, 1999 ACLU Website. American Civil Liberties Union. Web 25 Apr. 2015. http://www.aclu.org/ReligiousLiberty/ReligiousLibertyMain.cfm http://www.aclu.org/ReligiousLiberty/ReligiousLiberty.cfm?ID=18587&c=38 Unofficial Arizona State University Website. Arizona State University Student Affairs. Web 25 Apr. 2015. http://www.sundevilweb.com/poll.aspx?poll=2 Wikipedia Website. Wikipedia On-line Encyclopedia. Web 25 Apr. 2015. http://en.wikipedia.org/wiki/Philosophy Talk Origins Website. Talk Origins Archive. Web 25 Apr. 2015. http://www.talkorigins.org/faqs/evolphil.html

Malcom X “My First Conk” Essay

Through the years African Americans have been growing their roots in the United States. It wasn’t too long ago that they weren’t accepted as a part of society. Since then the gap between them and the Caucasian community has begun to close. As both populations blend together we start to think of them as one nation with more similarities than differences. What happens when one society bleeds out its culture more than the other? African Americans have increasingly opted to ditch their natural selves and instead take on the task of manipulating themselves in order to appeal to the white man’s idea of beauty. Rather than revolt against the insults thrown at blacks they seem to have adopted them as true. Why is it that instead of defending their natural kinks they cover them up with wigs or chemically alter them? Although some beauty practices are commonplace throughout most African American communities engaging in these activities is the equivalent of validating the notion that blacks aren’t good enough. Malcom X illustrates for us in his piece titled â€Å"My first Conk† how his first conking went. For those unfamiliar with the term conking is a procedure in which black males concoct a gel, using mainly household ingredients, then apply it to the hair in order to straighten it. The incorporation of lye in the gel is what causes the bearer to feel as though the scalp burns. Malcom was at first a devoted conker but through the years has come to regret his old habit. At first he explains how good the conk made him feel, later in his life he mentions that conking was his first step towards self-degradation. He calls out all those who have or still sport a conk and urges them to stop. He even goes as far as saying it makes blacks look foolish. He also concludes that hair unimportant and it’s a shame that so much time has already been wasted on this. A compelling story I stumbled upon tells the drastic measures some are willing to take in order to shed themselves of the image they have come to associate as inferior. A woman around 35 years old willingly admitted that she bleached not only herself but her children. She wet cloths with store-bought Clorox and placed the on her and the kids’ faces for about a couple of minutes. This woman openly acknowledged that she was ashamed of being black. Alongside with her there were other testimonies who felt the same. They all mentioned how they were looked down upon for being black. They told some of the insults they faced on a day to day for being who they were. They felt the measures they took to appeal to the white community was  necessary. It was necessary if they wanted to feel good, if they wanted to be seen as equals, and if they wanted to stop the mental abuse . When I first came upon these people I was shocked. How could someone be so insensible as to literally bleach their skin? What would compel people to undergo such painful procedures as the one mentioned by Malcom? I was shocked but little did I know I too was just as guilty of caving in to society’s ideals of what I should look like. Just last year, my senior year in high school, I would have a morning ritual. At 5:00 a.m. sharp I would stumble out of bed and turn on the coffee machine. The energy from the coffee was to help me stay awake so I could complete the lengthy task of straighten my hair. 2 long hours it took for me to do only my hair! As is probably imaginable I was often late to school. I was late so many times in fact that I nearly didn’t graduate on stage. How then did I dare judge poor lady who bleached herself when in reality I was no different? I too unnecessarily took it upon myself to change the way I was because the pressure I felt to be just a bit sim ilar to white people. Consciously I did not notice this was what I was getting across, as I presume many black people that do things such as perming or wearing wigs are also unaware, but ultimately we have been brainwashed so much that this behavior is reasonable. Many may argue that we have the right to express ourselves any which way we want. This is true but why then are blacks ridiculed when they defy the expectations and take pride in their true selves. Why must wearing their natural selves take courage? We as a blended society should know better than to judge. Oppressing people has to be a thing of the past. The oppressor is not the only one to blame here. The oppressed are guilty of not fighting back. No change will come until we try to change ourselves. Too many have suffered and continue to suffer. Both mentally and physically these people are abused but to no avail. Society will not let up. Instead of conforming to society, as we have done for so long, we must pave a different path. Comparing ag ainst another race is futile. Blacks will never be the same as whites, they shouldn’t try to be. Each a culture rich in its own way. Teach ourselves and our peers to take pride in our appearance once again. Dig back into a culture once covered up and exhume it. Let it breathe for when it does so will we.

The textile Industry

The textile Industry The textile industry is one of the biggest industries in the world, as the market for its product is growing at an exponential rate. This industry is concerned with the immediate role of producing material in yarn and cloth form; which are the primary ingredients in the manufacture of clothing.Advertising We will write a custom essay sample on The textile Industry specifically for you for only $16.05 $11/page Learn More In the 18th century, the British inventors wanted to exploit the world markets with their technological designs and at the same time there were restrictions on selling the designs, models, or the machinery to other parts of Europe. James Hargreaves invented the spinning Jenny while Richard Arkwright came up with the first textile factory in 1771 in Cromford, England. Samuel Slater later opted to start his own factory in Rhode Island in 1792. In the early 1800s, other factories started coming up in Boston and other parts of the United States. Since then the textile industry has flourished not only in America but in the whole world. Factories with modern state of the art equipments have been built in major cities in the world; and demand and supply of their products are at a rising trend (Gathi, 2001). International trade is one the most complex areas in the legal arena. This is because there are a number of players involved, both state and non-state actors forming trade organizations. The levels of interactions amongst the parties involved are difficult if not tedious to keep track of. Before the trade act of 2005, the textile industry in America was not doing so good. The relationship between the US and China for example has been in the dark side for decades. Exports and imports between the two countries have been hampered by the political interests and differing ideas of these two countries. The textile markets between these countries have never achieved their full potential. Looking at the American industry, the numbe r of jobs that were lost in this period with trade barriers were totaling to the thousands. This meant that more Americans were jobless and there was little income coming from this sector. The removal of the trade sanctions in 2005 has seen an increase in the trade of textile and especially in the trade of the demin material. Everybody in the word seems to be in love with the denim jeans. It therefore would be no surprise to find at least 10 pairs of jeans in each house hold in America. The denim business is a giant catch, raking in over 50 billion dollars each year. There are over 70 countries involved in the production of jeans in the world; the big producers are China and Mexico.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The business of denim has become so global, that it is literally evident in the threads that make the materials. Different countries e.g. India, Azerbaij an, Turkey, United States and Pakistan produce the cotton that is used to make the denim fabric. Snyder’s Fugitive Denim looks at the business of Jeans and its impact on the lives of those involved, as well as its impact on the environment. One of the counties explored was the United States. Different fashions have come and gone but the denim jeans seems to have outlived them all; only evolving to become the iconic fashion symbol of the 20th and perhaps the 21st century. However, in the last few years, cotton production has been of low benefit to the farmers as the world market prices plunged. Farmers in the United States enjoy subsidies from the government unlike some of their counterparts from others parts of the world. They also use methods of farming that are less harmful to the environment. When you buy your jeans from the shop, chances are that the pair contains up to 3.5 % of pesticides used during production. It is no wonder that the American farmers have adopted safe r methods that avoid the usage of Pesticides. The farmers are using genetically modified cotton seeds. The impact of the toxic pesticides has been felt by farmers in the third world; who do not have the privilege of advancing their farming methods. Farmers in these regions end up developing lung and other long term diseases such as cancer. Furthermore the textile industry has been riddled with scandals of child and slave labour. The most affected counties being china and Cambodia which have numerous scattered sweatshops. Other impacts of the textile business are those of water pollution and soil degradation. Being a water intensive type of farming, farmers channel water to their farms from the rivers. This leaves some of the rivers with no way of supporting life. Some of the water also gets contaminated with the chemicals from the farms leaving the soils toxic and dangerous to human life. The world system theory suggests that the world economy has disparities in economic development . That development largely depends on the technological knowhow of a state. Making the United States at the top of this hierarchy followed by her counterparts in Europe. And the tasks or works that require higher levels of skill and capitalization are reserved for these regions making the third world a peripheral region and receiver of the remnants of the maldistribution of resources. Hence, current progress of the world economy tends to enlarge the economic and social gaps even further.Advertising We will write a custom essay sample on The textile Industry specifically for you for only $16.05 $11/page Learn More This leaves the third world a beggar of sorts (Chase-Dunn and Grimes, 1995). It would be safe to say that the world-systems theory is drawn from the dependency theory. This is further defined as a macro-sociological existence, where different states or regions depend on each other for the basic survival kits which include food, fuel, and perhaps pr otection. There is a presence of a power hierarchy. There are regions or states that exist in the core and are considered to dictate terms of business to the other regions that exist within the periphery. Technology seems to be a power weapon in the quest for domination. The peripheral countries are structurally disabled to pull themselves out of the murky situation and formulate policies that are development oriented. The core states maintain the system as well as try to pull out the peripheral states by offering their surplus (Goldfrank, 2000). Do I agree with this world-systems theory? It is quite evident that the third world countries have remained in the same status as they were economically; while the developed countries continue to rich themselves from the spoils they get from their exploits. Even though the developed world is offering help on one hand, the other hand seems to be taking. This makes me agree with wallerstein’s theory. Chase-Dunn, Grimes P., (1995) â⠂¬Å"World-Systems Analysis.† Annual Review of Sociology. Vol. 21 p. 387-417. Gathi H., (2001). The Evolution of Machines 1: Agriculture and the Origins of the European World-Economy in the eighteenth Century. New York: Academic Press.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Goldfrank L., (2000). â€Å"Paradigm Regained? The Rules of Wallerstein’s World-System Method. Journal of World-Systems Research. Vol. 6. N. 2 pp. 150-195.