Why is money supply not under the tight control of central banks Essay - 2

Why is money supply not under the tight control of central banks - Essay Example spite this clear relationship between money supply and banks, there are other factors that influence the control of national and international money supply and take away the full control of banks; these include personal account holders, foreign investors and various businesses and corporations. Ancient Babylonian records dating from the 18th century BC show that a rudimentary form of banking was established at that time (Leick 161). Although these early storehouses could not necessarily equate with modern banks, they did serve the purpose of storage of wealth in the form of grain, gold and other valuables. From these immense storehouses, people chose to lend and borrow based on agreements made on a person-to-person basis. Financial relationships such as these expanded in the following centuries and we can see evidence of basic banking centres from the Greeks, the Egyptians and Romans. As banking progressed, the idea of storing wealth became more complicated as people tried to decide of fair ways of paying back loans on various items (Smith 4). Seeds, which could reproduce and therefore become worth more in the end, would require an equal repayment that included interest; this was an idea that quickly took hold and has helped to define modern banking (Heichelheim 56). After the Roman Empire lost its power, banking actually became a derelict practise in most of Europe until centuries later. When it was revived in later years, banking gained the addition of one factor that would revolutionise it: hard currency (Butler et al 27). Currency became redeemable for actual products when prior to its advent, financial exchanges were completed with the end product already in hand (for example, gold exchanged for a certain amount of grain, or grain for eggs). Currency became the primary source of finance instead of a mere representation of ‘true’ finance; based on currency, interest rates and the need for people to store their wealth away safely, banks were

'To tackle the fight against trafficking, we need to concentrate on Essay

'To tackle the fight against trafficking, we need to concentrate on state intervention and stricter border controls'. Discuss - Essay Example This however is not usually the case as sexual exploitation is the first harsh condition they encounter before being sneaked into the desired and promised country due to lack of proper travel documentation. Human trafficking is majorly carried out by agents whom according to Agustin (2005) may be governmental, religious, nongovernmental, academic or even medical groups and organizations (Agustin, 2005, pg. 100). These groups and organizations operate on a legitimate basis upfront but carry out the illegal immigration and human trafficking as a form of black market business hence making it harder for immigration authorities to detect them. Even with the strict immigration laws being enforced in some European countries like Germany and even UK, illegal immigrants still find their way inside those nations. According to statistics provided by the United Nations, there are over 175 million people who cross borders on a yearly basis and majority of them do so illegally without being detect ed or through fraudulent means. Human trafficking is a global affair and it has been able to rise due to the fact that it is intertwined with issues of international crime, corruption deals (conducted through unscrupulous immigration officials), coercion and even lack of stringent state laws concerning immigration or even border patrol. The lack of anti-trafficking statutes in most states contributes to the increasing trafficking of people. This is evident in even famous place like New York City in United States of America. This lack of laws provides a leeway for the agents to ferry the illegal immigrants from Latin nations like Mexico, through US and finally finding themselves in European nations like France. Testimonies have been provided by the trafficked people especially women who are illegally or even legally assisted to migrate into European nations through the promise of being enrolled into the domestic labour market of that country. However on reaching their destination, th e domestic labour market turns out to be a thriving sex industry where sexual exploitation is the order of the day under organized pimps and even in brothels. Those lucky to enter the domestic labour market do so as helps or by providing cheap labour services and even in these places, they are still sexually exploited (Long, 2004, pg. 18). Some critics argue that it is easy to prevent such sexual exploitation that happens through the cover of provision of domestic labour market but it is not so easy. This is because the trafficking that takes place under this front has legal cover ups as mentioned earlier of legitimate organizations whose side business is trafficking of people without the knowledge of the authorities. It is evident that trafficking moves from the South towards the North and it heavily consists of women. According to feminists and especially the African feminists, women are the most negatively affected by development policies and measures taken by their countries, fo r example those that follow conditions dictated by International Monetary Fund (IMF) and the World Bank in order to grant loans and financial aid to these countries. These Bretton Woods financial organizations demand (as one of their conditions) restructuring which in short means cutting some of