Social contexts and the justification for punishment Essay

Social contexts and the justification for punishment - Essay Example (Zaibert, 2003) The societal justification for the punishment therefore is one of oldest issues which society has been contemplating in different contexts over the period of time. This paper will therefore describe the relationship between the social contexts and the punishment besides providing a discussion about how the concepts about punishment have evolved and why modern society has become tough. Social context is defined in different contexts however, over the period of time the exact definition has kept on changing. Social context is often also described as the circumstances surrounding any given action or story. Social context is also linked with the social identity or with different social variables such as gender, class etc. There are two possible explanations of the punishment and the social context i.e. retributivism as well as the consequationalism. Based on the social context such as gender, class or any action, retributivism suggests that punishment is due because a person deserves it. (Bedau & Erin, 2010) However, over the period of time, this idea has faded and the consequationalism emerged as one of the valid theoretical explanation for the connection between the social context and the justification for the punishment. Utilitarian beliefs suggested that punishment can only be justified if it has the value and use for the society. Punishment is also considered as a mechanism for the social control therefore over the period of time society has shaped the institutions and laws in such manner which can achieve the social control. (Fagan & Meares, 2008). Apart from this, the current day approach to get tough on the punishment therefore is based upon achieving the low rates of crimes. This has been therefore based upon the notion of achieving minimum level of deterrence. The current approach therefore is based upon the notion of achieving a correctional system which is rehabilitative in nature wherein those who commit crimes are

Market prices, Valuation Principle, Net present Value, interest rates, Essay - 4

Market prices, Valuation Principle, Net present Value, interest rates, and bonds - Essay Example For several reasons investor would be interested in periodically checking value of actual return on investment, primary reason has to do with stability of portfolio itself. If the overall rate of return is low or is likely to decrease, it signals that diversification in investment types would be needed. Despite diversification, loss in return on investment indicates that one or more investment types are composed of higher percentage of total investment than desired. In both cases, lower than expected value of realized return can convince investor to make changes in order to avoid incurring further losses. Systematic risks are fluctuations in stock’s return due to factors beyond market control and it can not be eliminated through diversification. Systematic or non-diversifiable risk is a common risk affecting all stock; causes include wars, inflation, political events and international incidents. Risk free rate of return is used to compensate this risk type. On contrary, unsystematic risks are fluctuations of stock’s return associated with random causes that can be eliminated through portfolio diversification. Unsystematic or diversifiable risk is a firm-specific risk, contributing factors include lawsuits, strikes or regulatory actions and market risk premium is used to compensate such risk. Total risk of portfolio is not simply equal to the weighted average of the risk of individual securities in the portfolio because of continuous diversification. Such diversification reduces portfolio’s total risk though all risks cannot be diversified. Risk factors (economic conditions, interest rates) of all stocks, bonds, securities are almost same and cannot be eliminated, whereas investors can eliminate systematic risk to some extent by portfolio diversification. Addition of more securities drops down unsystematic risk, until total risk approaches to systematic risk. The fact that diversification is