Essay On Hedging Student Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2357 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Hedge funds have grown and deepen their roots in the recent years. At present trillions of dollars of assets are controlled by hedge funds. what happens in the hedge funds market in a matter of concern for every American. Don’t waste time! Our writers will create an original "Essay On Hedging Student Finance Essay" essay for you Create order In the period of 1998-2008 the amount of hedge funds has increased dramatically. A firm in Chicago said the funds exploded from $374 billions to almost $2 trillion in a hedge fund research. Flushing with money, hedge funds gained enormous air of mystery and soon became the hottest talk about thing on Wall Street. The financial distress gave rise to the increasing hedging practice. Because the markets have become so uncertain that every investor wants to have a safe net so that he doesnt lose out his money. Most of the studies carried out in hedge funds are based on two dimensions, the companies who hedge and the companies who dont. Not every company uses derivatives and not every company hedges and there are some who dont prefer disclosing the amount of hedging practice in papers available to the public. Of late empirical evidences have in a way supported the usage of currency borrowings to be a hedge management tool. What is Hedging? A hedge is a risk management strategy, an arbitrage situation to minimize the loss from fluctuations in the prices of commodities, currencies or securities. It can be said that hedging is like buying an insurance policy to transfer the risk. Moreover, hedging is like a bet in the gambling sense, where you put another bet in addition to minimize the risk of the unsettled bet. The daily nuance of this practice is to gain a protection against the possible unfavorable outcome. It normally takes into consideration equal and opposite situations in a market, such as cash and future markets as an example. In easier words, you will leave early to catch a train. Here, you are hedging a bet to board the train on time. Financial hedges are undertaken to reduce or eliminate the risk of a transaction already taken or an outstanding transaction to be on a safer side. What are the driving factors of hedging for both financial and non-financial firms? As we know, all the businesses these days have become international businesses. Hence, the fluctuations in currency are unavoidable. It affects the cash flow, profitability and asset /liabilities positions. All the firms are involved in import and export activities. And the major risk here arises is the currency exchange risk. A company might be earning in Dollars but will be paying for the costs in some other currency. These values change every day. They are highly volatile, escalating and declining dramatically. Hedge is normally related to financial firms like, traders, banks, investment institutions who are exposed to currency risk or speculative businesses. Practically, there is no way any business can be completely immune from the above mentioned risks. And as a risk management practice, the firms make provisions and hire professionals to carry out hedging so as to safeguard their investments. At present, the hedging market is a flippantly regulated group of investment vehicles of similar characteristics. Lately, non-financial firms too have started hedging owing to the fluctuations we just talked about. And in addition there are several benefits as mentioned below: Tax benefits Be it a small or a large firm in the countries where the tax structure is just the opposite to the concave tax structure, then these firms can decrease the tax liability by hedging. Smith and Stulz(1985) showed that the volatility is costly for firms with convex effective tax functions. Like in Canada, they have a statutory progressive tax structure for individuals and to limited corporate firms. Lets take an example, if a firm is expecting a loss of $200000 or earn $200000 and tax rate being 30%. Thus, the firm will have to pay $30000 as taxes even though the expected income is zero, without hedging. Here, we have ignored the tax code like the ability to carry forward losses which reduces the tax convexity and provides with a tax incentive to hedge. It has been found in previous studies; the greater the convexity the greater will be the tax benefits. And the tax function is convex when the marginal rate increases. Graham and smith (1999) have said that existing NOLs(net operating lo ss) provide a disincentive to hedge firms expecting a loss but will offer incentive to hedge for profit expecting firms. Boosting debt capacity If we go through the theories of Stulz(1996) , Ross(1947) and Leland(1998) we get to know that by reducing the volatility of income and/or reducing the probability of financial distress, hedging increases debt capacity and which in return also provides to be a tax incentive to hedge. Leland(1998) in his presidential address to American Finance Association had made clear two things as quoted by him the principal gain comes from the fact that lower leverage volatility allows higher leverage with consequently higher tax benefits and a secondary hedging gain comes from lower expected default rates and distress costs, consequential from unused debt capacity. There have been arguments which suggested that tax shield from increased leverage is of more importance than reducing expected distress cost. Financial distress remedy Dolde(1995), Berkman Bradbury(1996), Haushsalter(1998), Gay and Nam(1999), Howton and perfect(1999) and Graham and Rogers(2002) use the debt ratio to measure expected costs of financial distress and found that higher hedging is observed with increasing debt ratios. Volatility will reduce the firm value if the financial distress is sumptuous. Most researches have suggested that the relation between greater expected financial cost give a rise to hedging which presumes that higher debt capacity faces higher financial distress. What hedging/leverage casualty can do is; hedging may increase debt capacity, but higher leverage can boost up the incentive to hedge. In empirical researches it has been found that the relation between costs of financial distress and hedging are positively correlated with the probability of a firm in financial distress will hedge. Due to the huge cost of bankruptcy, in inevitable for firms to hedge themselves against the huge risks they are exposed to which will lead to a lot of financial distress. Normally these risks are closely relevant to the firms fixed commitments and interest expenses. Agency problems When the decision to hedge is contractive, hedging helps in eliminating the agency problem by diminishing both the risk premium and the equilibrium amount of earnings management. Although hedging does not always solve the problem and instead allowing earnings management is preferable but it does help some firms. The main reason behind it being that if they change the structure of earnings management it might lead to inefficiency. So it has both the pros and cons. Although, with an increased hedge option, the principal may achieve efficiency by stringently forbidding the earnings management, since the cost to eliminate dead-weight loss from earnings management can be lowered significantly by hedging. Restricting shareholder and bondholder interest Shareholders bear the entire cost of investment and hence would expect the investments to be nurturing but the returns accrue towards the debt holders as well such as shareholders will be worse off. Bessembinder(1999) has once argued that as hedging reduces the profitability in situations of financial distress it proficiently moves individual future states from default to non default results. Hedging firm may promise to obligations in conditions where it wouldnt have been able to negotiate contracts with regards to lower borrowing costs otherwise. Inconsistency in investments will be unfavourable, to an extent of diminishing marginal returns to investment. In current asymmetries the cost of marginal funds will increase with increase in funds. And if they available funds run short, the need will met by borrowing from outside institutions and which will result into decreased investment. This will have a negative impact on the npv and the firm value as a whole. Here, the hedging techniq ue may come out as a good idea to manage the internal funds,provding a safe net on the fluctuations and the firm does not have to spend on borrowing from external sources and thus improve the firm value and the net present value. Thus, a firm with higher level of debts, will undertake a hedging programme, if their growth value is highly affected by the value of the firm. Improving managers wealth portfolio If the variability of their compensation is related to the volatility of corporate incomes and cash flows having a convex utility of function then, corporate volatility can be costly (stulz(1984). The Within the hedge fund industry it is the skill of the manager (alpha), rather than the performance of a market or asset class (beta), that should principally determine how well they perform. As quoted in a publishing by the National Association of Pension Funds Limited 2009. The infamous 2 and 20 formula of compensation has gained a lot of majority and appreciation in hedge funds currently in operation. It means that a hedge fund manager receives 2% of assets and 20% of profits each year out of the hedge funds operating agreement. In short, if they lose the money, at least a guarantee 2% return with negligible problems will be given. Hence, we can say that a manager earning 1 billion pound may take home 20 million pound by just investing the companys funds in the bank. Its very obvious that with such returns, the client may defect before long and is in the best interest of the fund manager to boost up his returns. Firms facing currency exchange risk As almost all the firms these days are engaged in import and exports. There is not just one currency they are dealing with. They might be producing their product in dollars or yen but the remuneration is in different currencies with different exchange rates which fluctuate every day. In such a scenario, its very difficult to maintain the cash flows and the investments and the accounting of the same. Any company wouldnt like to risk their funds and profits to an uncertain market. So they buy forieng currency derivatives and hedge them. So that they dont lose out their profits. It is practically unavoidable for any international firm to not hedge. There are different risks which come as a package with currency exchange risk. The firm is operating in a different currency country, exporting in a different currency, outsourcing the managerial work to another country. The whole world has become a market but the currency is not universal. The financial firms deal with different currencies. They deal in commercial papers, loans, borrowings, equity, bonds etc. So they are ought to hedge no matter what as a risk management practice. But the firms who in a way have the same need to hedge like these firms also jump into the world of hedge funds. The cost of hedging is no less. But the cost is comparatively less than the risk exposure. Hedging is a necessity of small and medium firms, big companies have a bigger risk appetite. They will be able to raise funds and reinvest and recover their losses which is not the case with small firms. Hedging has other benefits too like they make the financial statements and more detailed and revealing to the investors and stakeholders which might improve the firms value in the market. Any investor would prefer a company who is making provisions for future uncertainties and not just presuming things to go their way when it comes to exchange rate. If a firm is ready to face their risks by taking prior precautions then it can concentrate on its main aim of profit earning and growth. In 1999, Mian studied the annual reports of 3002 companies in 1992 and found that 771 companies did some risk hedging in the course in that year. And out of these 543 firms disclosed their hedging activities in the financial statements and 228 mentioned the use of hedging as a risk management strategy but didnt disclose the details about the extent of hedging. Larger firms were hedging more as compared to smaller firms, because it was relevantly less costlier due to the economies of scale. In 1996, Tufano made several interesting observations: Almost 85% of the industries hedged gold price risk between 1990-1993. UK firms have a better incentive than the US counterparts ? US firms basically hedge currency exchange risk and commodity risk more than any other risk. George soros rose to fame and fortune when the British pound was going through a rough phase. Hedge fund managers are now looking for ways to earn out of the financial distress in the European countries. it is unlikely in Europe, because the way Europe works is incremental crisis, incremental recovery, London-based Robert Marquardt, founder of funds of hedge funds Signet said. The Euro went down to 3.3% percent against the US dollar this year. Brynjolfsson and several other US money managers trying to expect a gain from European crisis say that expect a lot of winners out of Europes misery. Seeing the rise in the global transactions secondary transactions which was expected reach an aggregated value between 25 euro billion to 30 euro billion, was true. As compared to 20 million euros in 2010 and 25 euros in 2011 it seems Europe will continue to host the bulk of secondary transactions. The pro minent Uk and French markets have continued to fuelled in by the Banks and Insurance companies, whereas public pension funds represent the largest category of sellers in US, says Nicolas Lanel, managin director and head of European secondary market advisory at UBS. Marleen Groen, CEO and founder of Greenpark Capital, agreed: Many pension funds are also waiting for further clarity on the implications of the occupational pension funds directive upon their private equity holding. She adds that funds fear renewed recessions in some European countries. The dominance of the EU in the management of speculative funds is seen to be irresistible. although the dominance will have to be put into a viewpoint: British represent $212 bn compared with a total of $1000 bn for funds locared in the US making the London hedge fund market no more than a Trojan horse for the US hedge funds.

Essay about Silkscreen Printing - 1170 Words

Pablo Picasso, a painter from the 19th century once said; â€Å"Action is the foundational key to all success.† (BrainyQuote.com). During the Song Dynasty (960-1269 A.D.) the early Chinese took action when they discovered that through the use of pre-formed stencils they could create much desired patterns and designs on material and entire other countries to trade other products for their highly desired textiles. Originally introduced in America in the 1930s, this type of printing has become diversified and more popular over the years. The artistry behind silk- screening has evolved and today’s services offer a variety of techniques that are sure to meet the needs of any company wanting to produce a quality product. However, the†¦show more content†¦Again, the basis of silkscreen industry is still, as it has always been, essentially a home industry. Any space at home can be temporarily converted to a silkscreen studio. Very little space is required. Silkscreens are thought to be more artistic than commercial printing, as they are done mostly by hand. Printing companies often still use the silkscreen process to make signage and banners for other business. It can be used to print on a wide variety of substrates such as paper, plastics, glass, metals, fabrics, and many other materials of any shape, thickness and size. It is also used in transferring images for smaller, commercial specifications and in the reproduction of artistic pieces. The most popular uses for this type of print method are in placing graphics and wording and transferring images on clothing, glass, ceramics, some paper, and even metals and woods. Silkscreen printing today is widely used to create large batch produced graphics on ceramics and wood. Artists have been using the process since the early – 1930s (Christianet.com). Silk-screening has many other uses in addition to its suitability as a fine-arts medium. Posters, greeting cards, wallpaper, wrapping paper, fabrics, bumper stickers, labels, ceramic tiles, and electronic circuits can be all printed with this same process (â€Å"Silkscreening† page 15). The advantage of silkscreen printing is the low cost even for huge sizes. In this technique,Show MoreRelatedThe, Sitting Bull, By Andy Warhol Essay1397 Words   |  6 PagesAndy Warhol’s 2-D silkscreen print, Sitting Bull, is a very popular and controversial print from his series Cowboys and Indians. The print is representational, based on an original archival photo of the Sioux Chief, Sitting Bull. In the original photograph and print, the Chief is posing for a headshot photo, with a calm facial expression and stance. 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Twelfth Night Analysis Of Fools Essay Example For Students

Twelfth Night Analysis Of Fools Essay A fool can be defined in many meanings according to theOxford English Dictionary On Historical Principles. The wordcould mean a silly person, or one who professionallycounterfeits folly for the entertainment of others, a jester,clown or one who has little or no reason or intellect orone who is made to appear to be a fool (word originated fromNorth Frisian). In english literature, the two main ways whichthe fool could enter imaginative literature is that He couldprovide a topic, a theme for mediation, or he could turn into astock character on the stage, a stylized comic figure. InWilliam Shakespeares comedy, Twelfth Night, Feste the clown isnot the only fool who is subject to foolery. He and many othercharacters combine their silly acts and wits to invade othercharacters that evade reality or rather realize a dream, whileour sympathies go out to those. It is natural that the foolshould be a prominent attractive figure and make an importantcontribution to the action in forming the con fusion and thehumor in an Elizabethan drama. In Twelfth Night, the clown andthe fools are the ones who combine humor ; wit to make the comedywork. Clowns, jesters, and Buffoons are usually regarded as fools. Their differences could be of how they dress, act or portrayed insociety. A clown for example, was understood to be a country bumpkin or cloun'. In Elizabethan usage, the word clown isambiguous meaning both countryman and principal comedian. Another meaning given to it in the 1600 is a fool or jester. As for a buffoon, it is defined as a man whose profession is tomake low jests and antics postures; a clown, jester, fool. The buffoon is a fool because although he exploits his ownweaknesses instead of being exploited by others.he resemblesother comic fools. This is similar to the definition of aJester who is also known as a buffoon, or a merry andrew. Onemaintained in a princes court or noblemans household. Asyou can see, the buffoon, jester and the clown are all depictedas fools and are related ; tied to each other in some sort ofway. They relatively have the same objectives in their roles butin appearance wise (clothes, physical features) they may bedifferent. In Shakespeares Twelfth Night, Festes role in thisIllyrian comedy is significant because Illyria is a countrypermeated with the spirit of the Feast of Fools, where identitiesare confused, uncivil rule applaudedand no harm is done. In Illyria therefore the fool is not so much a critic of hisenvironment as a ringleader, a merry-companion, a Lord ofMisrule. Being equally welcome above and below stairs.. makesFeste significant as a character.In Twelfth Night, Feste playsthe role of a humble clown employed by Olivias father playingthe licensed fool of their household. We learn this in Oliviasstatement stating that Feste is an allowed fool(I.v.93) meaninghe is licensed, privileged critic to speak the truth of the people around him. We also learn in a statement by Curio to theDuke that Feste is employed by Olivias father. Feste thejester a fool that the Lady Olivias father took much pleasurein(II.iv.11). Feste is more of the comic truth of the comedy. Although hedoes not make any profound remarks, he seems to be the wisestperson within all the characters in the comedy. Viola remarksthis by saying This fellows wise enough to play thefool(III.i.61). Since Feste is a licensed fool, his main rolein Twelfth Night is to speak the truth. This is where the humorlies, his truthfulness. In one example he proves Olivia to be atrue fool by asking her what she was mourning about. The pointFeste tried to make was why was Olivia mourning for a personwhos soul is in heaven? CLOWNGood madonna, why mournst thou?OLIVIA Good Fool, for my brothers death. .u7841cad97f364a0ecde86f7b0e106d3a , .u7841cad97f364a0ecde86f7b0e106d3a .postImageUrl , .u7841cad97f364a0ecde86f7b0e106d3a .centered-text-area { min-height: 80px; position: relative; } .u7841cad97f364a0ecde86f7b0e106d3a , .u7841cad97f364a0ecde86f7b0e106d3a:hover , .u7841cad97f364a0ecde86f7b0e106d3a:visited , .u7841cad97f364a0ecde86f7b0e106d3a:active { border:0!important; } .u7841cad97f364a0ecde86f7b0e106d3a .clearfix:after { content: ""; display: table; clear: both; } .u7841cad97f364a0ecde86f7b0e106d3a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u7841cad97f364a0ecde86f7b0e106d3a:active , .u7841cad97f364a0ecde86f7b0e106d3a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u7841cad97f364a0ecde86f7b0e106d3a .centered-text-area { width: 100%; position: relative ; } .u7841cad97f364a0ecde86f7b0e106d3a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u7841cad97f364a0ecde86f7b0e106d3a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u7841cad97f364a0ecde86f7b0e106d3a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u7841cad97f364a0ecde86f7b0e106d3a:hover .ctaButton { background-color: #34495E!important; } .u7841cad97f364a0ecde86f7b0e106d3a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u7841cad97f364a0ecde86f7b0e106d3a .u7841cad97f364a0ecde86f7b0e106d3a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u7841cad97f364a0ecde86f7b0e106d3a:after { content: ""; display: block; clear: both; } READ: Euthanasia In The United States Essay CLOWNI think his soul is in hell, madonna. OLIVIA I know his soul is in heaven, fool. CLOWNThe more fool, madonna, to mourn for yourbrothers soul, being in heaven. Take away the fool,gentlemen. Adding to the humor of the comedy, Feste, dresses up as Sir Topaz, the curate and visits the imprisoned Malvolio with Maria and Sir Toby. There he uses his humor to abuse Malvolio who is still unaware that he is actually talking to the clown than to the real Sir Topas. Feste (disguised as Sir Topaz) calls Malvolio a lunatic (IV.ii.23), satan(IV.ii.32) and confuses him by wittingly making him a fool. Throughout the play, Malvolio has always been the person whointentionally spoils the pleasure of other people(killjoy). He is Festes worst nightmare in the play, but in the end is triumphed over by Feste completely and is the only character to show a negative attitude and a dignity reversed. MALVOLIO: Ill be revenged on the whole pack of you! (V.i.378) At the end of the comedy, Feste, is given the last word and is left in possession of the stage. Maria, Olivias companion is another person who seems enthusiastic in playing pranks on other people. In Twelfth Night, she plays the unsuspecting role of a behind the scene fool who gives ideas to Feste, Sir Andrew ; Sir Toby to assist her in her plans. In two incidents, she remains quiet while her plans are carried out by either the Knights or the Clown.Part of the humor that lies in this comedy is that Marias pranks are harsh cruel, using love and power (status of Olivia)to attack Malvolio, steward of Olivia, who is .sick of self love(I.v.90). For this, Malvolios greed for power ends himself locked up in a dark cell and is accused of being mad. She also prepares Feste to disguise as Sir Topaz. This is seen in the quote: Nay,I prithee put on this gown and this beard; make him believe thou are Sir Topas the curate; do it quickly. Ill call Sir Toby the whilst. (IV.ii.1,2,3) Combined with otherfools, Maria helps make Twelfth Night a hilariously funny comedy. Lastly, Sir Toby Belch is another fool in Twelfth Night. His role is helping on the game of make-believe. Always convincing ; encouraging the rich Sir Andrew Aguecheek that he has a chance of winning Lady Olivias love. He is similar to Feste, except he plays the role of a knight and is Olivias kinsman. His role is similar to a fool because he depicts many pranks of a fool. For example in Act II scene iii, while he was drunk he sings along with Feste when Malvolio barges in to shut them up. Whenever there is a prank, Maria invites Sir Toby toparticipate. One such prank was to assist Marias fake letter to make Malvolio think Olivia is in love with him. Sir Tobys make-believe scheme works convincingly on Malvolio. Another prank was to accompany the disguised Feste (Sir Topaz) into the dark cell where Malvolio was imprisoned.This accompaniment was probably to assure Malvolio that the real Sir Topaz is visiting him. Yet it is another make-believe schemeof Sir Toby. In Twelfth Night, the f ools are the ones that control the comedy and humor in the play. They assist in the make believe game and fool around with characters who evade reality or ratherrealize a dream. In Twelfth Night, Feste, Maria and Sir Toby are the fools that make the comedy work in many senses. They create the confusion through humor and it all works out in the end to make William Shakespeares Twelfth Night a really funny Elizabethan play.

Pros and Cons of Genetic Engineering free essay sample

There are many benefits of genetic engineering, but there are many risks too. Genetic engineering is the direct manipulation of genetic material in order to alter the hereditary traits of a cell, organism, or population. Basically, scientists take DNA of one product and put it into another product to get a mixture of traits from both products. It’s like breeding different breeds of dogs to get a certain look or personality. Some people don’t mind what goes into genetically altered foods, while others feel uncomfortable with the idea of eating any of it. The effects that genetic engineering has on the environment, living organisms and the product being engineered have been widely talked about up until the last few years where the amount of discussion going on about this topic has dropped immensely. For this reason this paper contains older information that I find to still be a valid outlook on what genetic engineering has in store for us. We will write a custom essay sample on Pros and Cons of Genetic Engineering or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As with many other topics of debate, there are two big sides to the controversy of genetically engineered foods: people who believe they are unsafe, and those who think they cause no harm. Many people believe that eating genetically altered foods is â€Å"unnatural† and dangerous. If the product was not originally meant to have a different gene in it, then it shouldn’t have it now. One fear about genetic engineered crops is that growing them will get out of hand. While federal rules require farmers to plant a certain percentage of non-genetically engineered corn alongside any pest-resistant corn, an estimated 21 percent of farmers are not following those rules (The Nation’s Health. 2010. Pg. 6). Farmers are putting too much reliability on modified crops. While so many people dislike the idea of genetically engineered foods, there hasn’t been any research that specifically states any negative effects of them. Sure, if a tomato is altered with peanut genes, it’s risky for people with peanut allergies to eat that tomato, but eating genetically altered foods hasn’t been proven to mutate one’s genes, make them sick or turn their skin weird colors. A study by a man named Arpad Pusztai claimed that some people who ate genetically modified potatoes suffered organ damage. After only 10 days of eating the wonder spud, which now produced its own pesticide, the rats suffered from damaged immune systems and organs. The pesticide wasnt the problem because rats (and humans) have been eating it in perfect safety in foods where it naturally occurs. The problem must have been due to the process of genetic engineering itself, it was the biggest shock of Dr Pusztais life. (Smith, page 74. ) However, the article, The Lanclet, that published the study also, critiqued it, stating that the experiments were incomplete, included too few animals per diet group, and lacked controls. So the conclusion that the potatoes were dangerous was not relevant. Pusztai was then sacked for publicizing research which hadnt been peer-reviewed (Wooster, 2001, pg. 1). As this article proves, even though there have been small experiments trying to prove the dangers of genetically altered foods, they are just speculations as to what could potentially be the effect of genetically altered foods. In an article about Transgenic Crops, some of the risks they listed included antibiotic resistance, allergic reactions, eating foreign DNA, and changed nutrient levels (Soil and Crop Sciences, 2004, pg. ). Can eating genetically altered foods raise the dangers of allergic reactions? Will they make our bodies more resistance to antibiotics? Can it destroy our DNA in any way? While all these questions are being studied for answers, there is no proof that the answer is â€Å"yes† to any of them. It is all speculation right now and probably will be for a long time. On the other hand, the re are many people who believe that there is nothing wrong with genetically altered foods; they can be good for us, even. Scientists are trying to use genetic altering technology to save thousands of lives. Vitamin A, which is an essential nutrient to our health, is the number one vitamin in the world that people do not get enough of. In places where there are high poverty levels, such as China and Africa, children and adults are so deficient in Vitamin A that it is the number one cause of blindness and death in many areas. White rice is the most commonly consumed product in the entire world, as it is cheap and easy to grow. Scientists think that by altering the genes of white rice to carry Vitamin A, it could significantly increase the health of thousands to millions of people all over the world. It could save lives (Williams, Doug. Speech). When I think about this, it seems like a really sensible idea. What’s wrong with making people healthier? There might be risks, we do not know what eating genetically altered food does to our bodies officially, but the benefits would outweigh those risks. There are other potential benefits to genetically altered foods that have been talked about. Benefits besides the white rice theory include oranges that replace daily multi-vitamins, potatoes with higher starch content that will not absorb fat, and soybeans ontaining insulin for the treatment of diabetes. (PR Newswire, 2009, pg. 1). For someone who has problems with taking vitamins, whether they just don’t have the time or can’t get into the habit, this could be another easy way to get those essentials. Eating food that is rich in starch but not in fat can also be appealing to many people. Starch is a tricky mineral to obtain but something that our body needs for goo d digestion. Even more, put yourself in the shoes of someone who has diabetes. Taking insulin shots everyday gets tedious and is time-consuming, and many people find the prospect of putting needles in their arms unpleasant. If there were a way to make taking insulin as easy as eating a meal, it would be a huge breakthrough. Soybeans containing insulin would make the lives of millions of people easier. Not only could genetic engineering be used on crops and plants, but animals could also be engineered for leaner meat. (Union of Concerned Scientists. 2002. â€Å"Potential Benefits of Genetic Engineering† page). Again, yes there may be other risks to this, but it’s the same thing with every medicine and antibiotic out there. There can be side effects of anything you take. Eating genetically altered foods would just be an effortless way to get the vitamins you need and for some, the medicine they need to stay alive. There are many ways to tell if a food has been genetically modified. I myself have noticed the changes that come from genetically engineering food from working on a family farm. There are a few major differences that can be noticed between natural and engineered crops. One difference is that engineered crops are generally bigger and if one compares them to naturally grown foods, they would notice that they tend to have less taste. Taste of course is all a matter of opinion, but it is noticeably less juicy and many of the genetically altered tomatoes I encountered had no seeds. Another noticeable difference of the foods is that the engineered ones have less of a rich full color, like tomatoes for instance, while a nice naturally grown tomato has a nice bright, juicy red hue to it. Yet another difference one would see in a genetically modified tomato is the size difference. A modified tomato is about two to three inches bigger in circumference. The last major difference one wouldn’t know unless they were the farmer or the buyer is that some plants are genetically engineered to have pesticides mapped onto their D. N. A so that they repel insects without needing to be sprayed. On one hand, this is an extremely useful trait. It saves the time and effort farmers put in to spraying fields, but on the other hand, it’s debatable on whether it’s healthy to do that to crops. Is it a harmless gene? Or is it as though they put the pesticide inside the plant itself, and that’s what we would be eating? Now with extra Pesticides! Doesn’t sound extremely appetizing. To me, I think the effort of perfecting a crop without the use of altering its genetic structure is good in its own way because it makes the quality of the food more than that of the engineered food. There are many things to consider when it comes to the topic of genetic engineering. It’s a topic that people talk and debate about, but that no one can officially prove or disprove facts about. While a few people are indifferent to the issue, most people have a view on the matter of genetic engineering. There are those who are opposed to genetic engineering, with its unknown side effects it could have and the potential risks impacting our society. Then, there are those who are for genetic engineering, which say it could lead us into a better future, like the examples stated earlier in the paper. It could make people sick, or it could save thousands of lives. No one really knows at this point in time. Experiments are done on animals, which often times have different reactions to experiments than would a human. The only way to test genetically altered foods on humans is by selling the products. Whether white rice, tomatoes and soy beans should be tampered with or let be as nature intended, the fact is that genetic engineering is our future. It will soon be brought more to attention, as has every other medical controversy, and we will decide to either abandon it altogether or step up and advance it even further. As was stated in the paper, my own opinion is that we need to approach genetic engineering with caution. Man has been known to meddle and tamper with nature. Is there a limit to what we should do? Or is this knowledge of mutating and changing genes to our benefit just another gift of nature to provide for its inhabitants? With more research and tests, hopefully scientists will someday be able to determine for sure what is best for the world.