Materials Essay Example | Topics and Well Written Essays - 250 words - 1

Materials - Essay Example The main differences occur in the mixtures that were made and used in the construction of the structures. For structure A, a water concrete ratio of o.4 has been applied while for structure B, water concrete ratio of 0.45 is applied. Structure B applied a higher ratio of water to cement than structure A. This indicates that structure B will be stronger that structure A. In structure B 8% of silica fume is applied. Silica fume enhances strength and durability to the concrete (Yudelson, Jerry). The concrete used for structure B is, therefore highly durable. For structure A, 30% fly ash was mixed with the cement. This may not add as much durability as compared to the addition of silica fume. For structure A epoxy coated rebar is used at 5% volume for reinforcement while structure B applies black steel rebar at 4%. For reinforcement, we can therefore say that structure A is better than structure B. structure A has used 15.5 liters of inhibitor free while structure B has used 10 liters. T his indicates that structure A is more protected from corrosion effects than structure B. According to the results provided, the cost of both structures will be increasing as time goes on but the rate of increase for structure A will be a bit higher than that of structure B. the results indicate that the location of structure A is more stable than that of structure

Meaning of Life and Thanksgiving Essay Example for Free

Meaning of Life and Thanksgiving Essay As the first pilgrims arrived at Plymouth Rock and had a feast with the Indians, they shared a moment of thanks together. They gave thanks for all their blessings, thus, creating our lovely day of Thanksgiving. When Thanksgiving is thought of, the first thing that comes to mind is turkey and a plentiful amount of food. Thanksgiving to me, is the time to be together with the ones you care about. Coming together for a day to just be with each other and to catch up is what Thanksgiving means to me. Family should be with each other to share memories and to realize the plentiful amount of blessings they have been given. Thanksgiving is not only a day for gorging on food or falling into a food coma, but talking with each other and just being glad to be with one another. Having family during Thanksgiving is a crucial part in my life. Having all of my relatives in one place for one day to talk and have fun with them makes Thanksgiving extra special for me. It is one of the few days of the year that I get to see everybody. The turkey, yams, cranberry sauce, mashed potatoes is just the icing on the cake. Everybody in my family loves the food. We eat and eat until we cant eat anymore. My family has a tradition of playing soccer afterwards but that goes only so far due to our full stomachs. My cousins and I play a friendly game of poker, afterwards our failed attempts for soccer, for first dibs on dessert. After a good game of poker, my cousins and I look for ways to entertain ourselves meanwhile the adults talk about their lives and brag about their kids. Society today makes Thanksgiving look like a day just to eat. As society advances the meaning of Thanksgiving deteriorates into a secular holiday. The meaning of Thanksgiving seems obsolete. I truly believe that Thanksgiving should be refreshed in its meaning and should be celebrated with family and love. As people come together to share a special day in our history, this should be a day which people will not take for granted.

Fair Value Practice: Suitability in Accounting

Fair Value Practice: Suitability in Accounting Introduction The issue of the use of fair value as a model for financial standards and reporting has been subjected to significant debate and argument since the IASB[1] Framework was first introduced in 1989. As can be seen from a number of accounting industry responses, such as that of Peter Willams (2005), the use of fair value is becoming increasing contentious and could pose difficulties for the ISAB. Some fear that if this issue is not addressed to the satisfaction of all parties, it could affect the power and influence of the ISAB. The intention within this paper is to discuss the theoretical concept of â€Å"fair value† and to assess its suitability of use for accounting reporting purposes. The paper will also look at the practical application of the â€Å"fair value† measurement as determined by the IASB within their current international reporting and accounting standards. The Concept of Fair Value The concept of â€Å"fair value† is to enable recognition of the reliable economic future value of certain assets and expenses, the latter of which is intended to ensure the correct level of increase or decrease of balance sheet assets or liabilities. The result of this method is to create a defined link between income and expense to reflect the movement in the value of assets and liabilities. For those who promote the concept of fair value, or what is sometimes known as fair â€Å"market† value, it is the sale price achieved for an asset offered on the market at the time of the statement, based upon the reasonable opinion of a professional evaluator (A.M. King 2006, 45). Fair value at present has no specific and identifiable measurement definition within current international accounting standards. It is currently determined through an amalgamation of a number of different and diverse accounting measurements used by corporations in accounting and financial reporting, although these models all have their disadvantages. For example, in the case of the historical cost measurement basis, fair value is deemed to be at the measured at the date of purchase, as this reflects market value at that time. Although this model is seen as one of the least volatile methods of value measurements, it is perceived to have shortcomings. The main issues are that cost dates are earlier than sale date leading to a potential for profit overstatement, and that it is not the ideal model on which to based future business decisions. In fact some commentators see that the current moves on fair value, although they may signify a move away from the less volatile performance of the previously used historical cost method, produce a measurement that is more in line with the real volatility of life and business activity generally (Mary Barth 2006, p.324). An alternative measurement, which uses a price index system such as the RPI[2], and is still based on transactions, is current purchasing power. The fair value determination here is set to reflect the capital of the business in relation to the general price trends. The difficulty with this model is that it assumes all prices move in line with the index, which is clearly not the case and thus can create an artificial monetary unit. The replacement cost and net realisable value model (NBV) use a fair value system based upon market entry and exit costs respectively. The former has the advantage of being able to calculate current values on a realistic basis, and can therefore identify gains in operating and other business areas, thus preserving the capability of the business. However, its subjectivity is aggravated by the speed of technological development and the fact that this leads to the possibility of no similar asset being available to compare values. The NBV model is clearer as it is based upon the probable selling price of the asset. It also does away with the estimation of depreciation as that selling price already reflects this. However, NBV does not take into account that the majority of assets are not disposed of, but utilised within the business. The problem with this calculation of fair value can threaten the concept of the business being a going concern. The ISAB intend to move towards a definitive fair value model, which supporters see as a positive action, the cost of which will not â€Å"be significantly higher than the cost of trying to implement the mixed measurement system† (Langendijk et.al. 2003, p.292). Mary Barth (2006), a member of the IASB, agrees with this statement, adding that a more definitive â€Å"fair value† model will assist in the elimination of some of the perceived volatility presently in existence. However, the opponents are equally vocal in their objections. A.M. King (2006, p.45) poses the question whether â€Å"all assets on a balance sheet [should] be shown at Fair Value?,† continuing to comment that the ability to achieve a particular model does not necessarily mean that it should be implemented. De Vries (quoted in Langendijk et.al. 2003, p.174) also questions whether it is a move in the right direction for financial reporting, and others fear that it will lead to less, rather than more reliance upon financial statements by investors and other stakeholders (Peter Williams, 2005). In the author’s opinion it appears that, whilst professional preparers of financial statements understand the concept of the â€Å"fair value† model being sought, those who utilize the statements as a basis for making investment and other business decisions, including stakeholders of all sizes, find difficulty equating the results with other factual information. In addition, the term fair value will only be valid at the date of preparation of the statement and, as a result, itself becomes historic from that moment. Thus, there is an argument for maintaining its use with the commonly used historical cost model. Use of Fair Value in accounting and reporting standards The term â€Å"fair value† is liberally spread throughout the international accounting and reporting standards. It is referred to in four of the IFRS[3]’s and at least fourteen of the international accounting standards, as shown in the summaries of the IAS (2006). The context of fair value within IFRS relates to treatment of the initial adoption of the standards, business combinations, insurance contracts and non-current assets and discontinued operations. In terms of the initial adoption, IFRS grants exemption of some non-current assets from the fair value model. The intention of the inclusion of fair value here is to ensure that the movement in the market value of an asset or liability, in other words the increase or decrease in value, is reflected within the financial statements at the prevailing date of those statements, identifying if this is different from actual cost. With the movements being recognised within the profit and loss, the anticipated result is to enable, a more accurate reflection of the capital (or share) value of the business at the given date (Antill and Kenneth 2005). In addition, IFRS demand that these fair value measurements be performed at each subsequent financial and accounting statement date, thus endeavouring to provide for the organisation’s Balance Sheet to reflect the impact of market conditions at all times. The inclusion of fair value within the international accounting standards is concentrated mainly within the areas of assets and liabilities, and in relation to specific business sectors, such as banks and similar financial organisations (IAS 30), Investment property (IAS 40) and agriculture (IAS 41). Two of the IAS’s do relate specifically to non balance sheet items. IAS 18 deals with fair value within the context of revenue. In this respect, it deals refers to the treatment of deferred income, where the fair value is achieved by the discounting of future receipts. The intention here is to take into account the change in revenue value by deferring the time of receipt, for example, how a rise in RPI[4] might influence the income in real terms. In IAS 21, which deals with foreign exchange transactions, the presenter of the financial statement is required to determine a fair value in the foreign currency in question before converting at the exchange rate applicable at the determination date. When dealing with the treatment of assets, impairment of assets and liabilities, as in IAS 16, 17 and 19, the fair value model intends the financial statements to include a valuation that accurately reflects the realisable worth in the marketplace of that asset or liability at the date of the valuation, notwithstanding whether the intention is to retain or dispose of that asset. In this respect fair value differs from historical cost accounting, which records the value of such items as at the date of purchase and, in many cases applies a depreciation content to the items, irrespective of their worth to a prospective purchaser. The historical cost result is twofold. Firstly, the financial statement recognition of any gain or loss against the real market value of an item may be delayed by several years and secondly, the statements will therefore not portray an accurate and fair view of the real value of the business at the date of the statements. The fair value model aim is to accurately align the varying fortunes of the business and its capital worth with the market forces of the date, allocating gains and losses within the period of time that they actually occur, rather than, as is the case with the historical cost model, creating an unrealistic movement in value within the space of one accounting period. A simple example of this in action is where, in the historical system, depreciation is attached to an asset at a predetermined annual rate, annually reducing the asset value. In reality, the sale of that asset would often achieve greater value than the statements showed, leading to a sudden annual increase in profits and growth in capital. Fair value proponents’ state that, by reassessing the market value on an annual basis, the real annual growth achieved by a business entity is more accurately defined, and that this provides investors with statements from which they can make more realistic judgments and use of as comparisons against other organisations, which is of benefit in their investment decision making process. Conclusion The core intention in the adoption of a fair value model as the most appropriate method of measurement for financial and accounting statement is to create a balance sheet and capital value of an organisation that accurately reflects the real market position of that organisation at the date of the statement. One difficulty and concern with this is the inherent problem in the evaluation and establishment of the fair value in respect of all of the items included within the statements. Langendijk et. al. 2003, p.52). At the time of this paper, the IASB has entered into further discussions with the various parties involved with, and affected by the fair value model. This is an attempt to arrive at a clearer definition of the model itself, and to seek a position on fair value, which is more acceptable for the future. References Antill, Nick and Lee, Kenneth (2005). Company Valuation Under IFRS: Interpreting and Forecasting Accounts Using International Financial Reporting Standards. Harriman House Publishing. UK Barth, Mary (2006). Fair Values and Financial Statement Volatility. International Accounting Standards Board, UK. ISAB Framework (2001). Framework for the preparation and presentation of Financial Statements. International King, A.M (2006). Fair Value for Financial Reporting: Meeting the New FASB Requirements. John Wiley Sons Inc., New Jersey, US. Langendijk, Henk., Swagerman, Dirk and Verhoog, Willem (eds) (2003). Is Fair Value Fair?: Financial Reporting from an International Perspective. John Wiley and Sons Ltd. UK Staff Team (2004). Fair Value Accounting and Financial Stability. European Central Bank. Occasional Paper Series, No. 13, April 2004. Retrieved 19 January 2007 from http://www.ecb.int/pub/pdf/scpops/ecbocp13.pdf Summary of International Accounting Standards (2006). International Accounting Standard Boards. Retrieved 20 January 2007 from http://www.iasb.org/Home.htm Williams, Peter (2005). Accounting – The next wave of convergence. Financial Director, 1 Feb 2005. 1 Footnotes [1] International Accounting Standards Board [2] Retail Price Index [3] International Financial Reporting Standards [4] Retail Price Index

Existentialism Vs. Determinism Essay -- essays research papers

Free Will   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Analyzing our individual free will can be very intriguing and can almost reach the point of being paradoxical. Ultimately, free will determines the level of responsibility we claim for our actions. Obviously, if outside forces determine our choices, we cannot be held responsible for our actions. However, if our choices are made with total freedom than certainly we must claim responsibility for our choices and actions.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The readings I chose offered two quite opposite theories on individual human freedom, determinism vs. existentialism. In comparing these two theories the contrasts are quite outstanding.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Evidently, some philosophers felt that human beings did not really have a free will. This view, defined as determinism held that certain casual laws rule what occurs in the universe. There are two major forms of determinism, including hard determinism and soft determinism.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Hard determinism taught that each of our actions is determined by factors beyond our control such as heredity and environment. From this point of view there can be no real moral responsibility for our actions if our actions were determined by factors beyond our cont...

Energy Saving Compact Fluorescent Light Bulb Environmental Sciences Essay

The Carbon Trust Applied Research and Incubator strategies has over the old ages through their Low Carbon Technology Assessment given a clear indicant of their engineering precedences and this have been determined on the footing of the C salvaging potency of each engineering and the extent to which the Carbon Trust support is likely to hold a important impact on advancement towards its commercial deployment. This they do sing the increasing sum of C pollution in the environment which has led to a heap up of Greenhouse Gas ( GHG ) and has made clime alteration a great concern for the full universe. Harmonizing to the Pew Centre ( 2011 ) about all of the nursery gas ( GHG ) emanations from the residential and commercial sectors can be attributed to energy usage in edifices and illuming histories for approximately 11 % of energy usage in residential edifices and 18 % in commercial edifices, which means it uses the 2nd largest sum of energy in edifices after warming, airing, and air conditioning ( HVAC ) systems. Therefore accommodations to illuming systems can be straightforward and achieve significant cost nest eggs accordingly ; turn toing lighting can be a simple manner to cut down a edifice ‘s energy usage and related GHG in a cost-efficient mode. This can be achieved harmonizing to the Pew Centre ( 2011 ) in two ways: Conservation ; through minimising the sum of clip visible radiations are in usage ; Efficiency ; betterments that cut down the sum of energy used to illume a given infinite, by and large utilizing a more efficient illuming engineering. Lighting is a big and quickly turning beginning of energy demand and nursery gas emanations. In 2005 grid-based electricity ingestion for lighting was 2650 TWh worldwide, which was about 19 % of the entire planetary electricity ingestion. Furthermore, each twelvemonth 55 billion liters of gasolene and Diesel are used to run vehicle visible radiations. More than one-fourth of the population of the universe uses liquid fuel ( kerosene oil ) to supply lighting ( IEA 2006 ) . Global electricity ingestion for illuming is distributed about 28 % to the residential sector, 48 % to the service sector, 16 % to the industrial sector, and 8 % to street and other lighting. In the industrialised states, national electricity ingestion for illuming scopes from 5 % to 15 % , on the other manus, in developing states the value can be every bit high as 86 % of the entire electricity usage ( Mills 2002 ) . More efficient usage of the energy used for illuming would restrict the rate of addition of electric power ingestion, cut down the economic and societal costs ensuing from the building of new bring forthing capacity, and cut down the emanations of nursery gases and other pollutants into the environment. At the minute fluorescent lamps dominate in office lighting. In domestic illuming the dominant light beginning is still the inefficient incandescent lamp, which is more than a century old. At the minute, of import factors refering lighting are energy efficiency, daytime usage, single control of visible radiation, quality of visible radiation, emanations during the life-cycle, and entire costs. Efficient lighting has been found in several surveies to be a cost effectual manner to cut down CO2 emanations. The Intergovernmental Panel on Climate Change for non-residential edifices concluded that energy efficient illuming is one of the steps covering the largest potency and besides supplying the cheapest extenuation options. Among the steps that have possible for CO2 decrease in edifices, energy efficient illuming comes foremost largest in developing states, 2nd largest in states with their economic systems in passage, and 3rd largest in the industrialised states ( Urge-Vorsatz, Novikova & A ; Levine 2008 ) . The study by McKinsey ( McKinsey 2008 ) shows the cost-effectiveness of illuming systems in cut downing CO2 emanations ; see Figure 1.1. The planetary â€Å" C suspension cost curve † provides a map of the universe ‘s abatement chances ranked from the least-cost to the highest-cost options. This cost curve shows the stairss that can be taken with engineerings that either are available today or look really likely to go available in the close hereafter. The breadth of the bars indicates the sum of CO2 emanations that we could slake while the tallness shows the cost per ton abated. The lowest-cost chances appear on the left of the graph. Capture1.PNG Figure1.1- Costss of different CO2 suspension chances. ( McKinsey 2008 ) The background above shows clearly that it is non possible to do a determination in one inquiry without sing the others. A holistic position takes into history all energy flows in the edifice over clip in order to make a sustainable attack ( Diemer, 2008 ) . In order to construct high public presentation edifices ( WBDG, 2008 ) we have to see all the different design procedures and facets of edifices ( see figure 1.2 ) and how edifices are used by proprietors and users. Capture3.PNG Figure 1.2- Global aims for High Performance Buildings. ( WBDG, 2008 )IntroductionHarmonizing to Pew Centre ( 2011 ) illuming histories for approximately 11 % of energy usage in residential edifices and 18 % in commercial edifices, therefore the demand to conserve light usage and follow more efficient engineerings can give significant nest eggs. In add-on to that it can besides cut down nursery gas emanations and give benefits like better reading and working conditions every bit good as reduced light pollution. Carbon emanation through the nursery gas consequence remains the singular job the whole universe is confronting due to the increased usage of fossil fuels and usage of traditional engineerings in lightings at places or in commercial edifices, every bit good as many edifices still staying brown alternatively of traveling green. In order to accomplish the decrease of C in the Earth ‘s ambiance every bit good as other nursery gases a batch of industries have sprung up in the clean or renewable energy sector. One of those elements of the industry harmonizing to the US Department for Energy ( 2012 ) is the energy efficiency sector, which may non look brassy or important at first glimpse but is softly spurring invention while cutting costs and salvaging occupations across the state as more industry leaders are turning to innovative energy efficiency techniques to cut down energy measures and produce low-cost merchandises. New illuming engineerings are many times more efficient than traditional engineerings such as incandescent bulbs and exchanging to newer engineerings can ensue in significant net energy usage decrease, and associated decreases in nursery gas emanations. The US Department of Energy in a survey in 2008 revealed that utilizing light breathing rectifying tubes ( LEDs ) for niche intents in which it is presently executable would salvage adequate electricity to be the end product of 27 coal power workss. This undertaking would give a description on researches on different illuming efficiency methods which can be used in Carbon emanation decrease and energy preservation, every bit good as besides help commercial houses cut costs so that they are able to bring forth low-cost merchandises and besides assist salvage more occupations in the present economic recession still seize with teething most houses in top industrialized states of the universe.Company PROFILEABOUT USAPASI ENERGY COMPANY LIMITED is a planetary leader in renewable energy solution, the company was established in 1993 with its specialisation in Lighting Efficiency Solutions and Technology. Having been in operation in Edinburgh ( UK ) and most states in Europe for the past 20years, and conducts researches that span over green engineerings like power technology, illuming engineering, environment pollution and direction, and more late C engineering. The company offers the most suited environmental scheme to run into specific environmental, comfort, energy and cost standards. Using computational methods backed by our practical, performance-based attack we can measure assorted options of environmental schemes giving greater flexibleness to architectural design. Areas of expertness include: Environmental facade design and optimization – analyse public presentation of facade options including heat transportation, solar additions, day-lighting, and airing. Low energy edifice design – buttocks different designs including advice on edifice signifier and natural airing schemes to help the inactive low energy design. Renewable and low C engineerings – look into alternate engineerings that best suit the undertaking needs, including facade integrated low C solutions. Since the beginning of concern, our stockholders have undertaken a significant programme of investing in order to enable the company to run into the quickly developing demands for energy use through illuming engineering, with all accent in technological invention and entire efficiency, we have maximised the environmental and economic public presentation of our resources, which has made us stand out in the energy market and run into our clients ‘ demands.TECHNOLOGY OVERVIEWLighting harmonizing represents at times up to 25 % of place electrical usage and it can impact the manner one feels, work and interact with others. It helps accomplish mundane undertakings and it is besides a important portion of one ‘s monthly public-service corporation measure. Efficient illuming would therefore come in utile since it is a signifier of scientific discipline every bit good as an art, despite the fact that most people still use the incandescent bulb, a engineering invented some 100 old ages ago by Thomas Edison. Since illuming therefore plays an of import portion in place electrical usage and C emanation from residential and commercial edifices, increasing one ‘s lighting efficiency is therefore one of the easiest and fastest ways to take down energy measures ( hypertext transfer protocol: //www.energy.ca.gov/efficiency/lighting/ ) . Lighting or Energy efficiency can therefore be defined as the optimization of energy ingestion, with no forfeit in illuming quality. It is a combination of thoughtful design and choice of appropriate lamp, luminaire and control system choice made in concurrence with informed picks of the light degree required, integrating and consciousness of the environment or infinite which is being lit ( hypertext transfer protocol: //www.energyrating.gov.au/wp-content/uploads/2011/02/2009-ref-manual-lighting.pdf ) .LIGHTING EFFICIENCY METHODSThis portion of the proposal would advert the popular ways to cut down the sum of energy consumed by illuming systems and the following discussed options give a scope of preservation options that can cut down the usage of unreal lighting ( beginning: Pew Centre, 2011 ) :Behavioral ChangeThis would intend a alteration in attitude of energy users whether in residential and commercial edifices. Turning off visible radiations when they are non being used reduces energy usage, nursery gas ( GHG ) emanations from electricity, and public-service corporation measures. It may include turning off visible radiations in unoccupied suites or where there is equal natural visible radiation. Adjusting unreal visible radiation end product can besides supply energy nest eggs ; for illustration, utilizing undertaking lighting ( e.g. , a desk lamp ) instead than room lighting can cut down the figure of fixtures in usage, and dimmers allow visible radiations to be used at maximal capacity when necessary and at low capacity.BEST AVAILABLE TECHNOLOGIES ( BAT )Timers and detectors can cut down light use to the necessary degree ; these options use engineering to mime the behavioral alteration described above. Detectors are used to function different intents in this theoretical account of light energy efficiency and they are of different sorts: Occupancy detectors: This aid guarantee that visible radiations are merely on when they are being actively used. Infrared detectors can observe heat and gesture, and supersonic detectors can observe sound. Both must be installed right to guarantee that they are sensitive to human activity instead than other activity in the locality ( such as ambient noise ) . Some estimations suggest that tenancy detectors can cut down energy usage by 45 % , while other estimations are every bit high as 90 % . Photograph detectors: They use ambient visible radiation to find the degree of light end product for a fixture. For illustration, photo-sensors might be used to turn out-of-door visible radiations off during daylight hours.IMPROVING Building DESIGN TO MAXIMIZE NATURAL LIGHTBy bettering the significant sum of natural visible radiation that comes into a edifice, the demand for unreal lighting is reduced and it may merely go a addendum for usage at dark or when otherwise needed. Besides in cut downing GHG emanations through edifice design, it is of import to take a holistic attack that considers non merely how design affects natural visible radiation, but besides the warming and chilling demands for the edifice. When unreal lighting is necessary, taking efficient engineerings can efficaciously cut down electricity usage and related GHG emanations. In taking among the available engineerings, it is of import to see several factors, including the quality of illuming needed, the frequence of usage, and the environment in which the visible radiation is being used ( e.g. , indoor or out-of-door ) . The undermentioned types of lighting and fixtures are most common in edifices:INCANDESCENT BULBSThese bulbs emit visible radiation when an electrical current causes a tungsten fibril to glow ; nevertheless, 90 % of the energy used for the bulb is emitted as heat instead than light, doing these bulbs the least efficient for most family intents when measuring them on a lms ( sum of light emitted ) end product to energy input footing. Halogen bulbs are a type of incandescent that are somewhat more efficient than standard incandescent but less efficient than most other options.COMPACT FLUORESCENT LAMPS ( CF Ls ) AND FLUORESCENT TUBESThese emit visible radiation when an electric current causes an internal gas-filled chamber to make full with UV ( UV ) visible radiation, which is so emitted as seeable visible radiation through a particular sort of surfacing on the tubing. All fluorescent bulbs require ballast, a constituent that regulates the current traveling through the lamp. Ballasts can be integrated into the bulb, as is the instance for most CFLs ( leting them to be used interchangeably with most candent bulbs ) or non-integrated, which require the ballast to be portion of the fixture, as is the instance for many fluorescent tubings used in schools and offices. Ballasts come in two assortments: magnetic ( which are older and less efficient ) and electronic ( which are newer and much more efficient ) . Both CFLs and Fluorescent tubes come in a assortment of forms, sizes, and efficiencies ( see Figure 1 for a diagram of a typical CFL bulb ) . They by and large use 75 % less energy than candent visible radiation bulbs. A CFL produces between 50-70 lms per W, compared to the 10-19 lms per W for an incandescent bulb. They are besides durable merchandises, with a life-time of 10,000 hours for CFLs and a life-time of 7,000-24,000 hours for tubings. Incandescent bulbs, by comparing, have a life-time of 750-2500 hours. hypertext transfer protocol: //www.energystar.gov/ia/products/lighting/cfls/images/Parts_of_CFL_large.jpg Figure 1: Diagram of CFL Bulb ( Source: U.S. EPA/ DOE Energy Star Program. â€Å" Learn about Compact Fluorescent Light Bulbs † hypertext transfer protocol: //www.energystar.gov/index.cfm? c=cfls.pr_cfls_about ) .HIGH-INTENSITY DISCHARGE ( HID ) LAMPSHID Lamps come in several assortments with widespread applications. They emit light when a current-also regulated through ballast-is passed between two electrodes on either terminal of a gas-filled tubing. Mercury, Na, or metal halide gas can be used, each with different coloring material end products, life-times, and applications. These types of visible radiations are non appropriate for all types of countries and usage ; for case, HID lamps have a long start-up period-up to ten minutes-and are best used in countries where illuming must be sustained for several hours ( e.g. , on athleticss Fieldss or for street visible radiations ) . In general, HID bulbs are 75-90 % more efficient than incandescent bulbs and have a long life-tim e.Low-pressure SODIUMThough these types of lamps are among the most efficient available for outdoor usage, they are merely utile for certain applications because of their long start-up clip, cool-down clip, and hapless coloring material rendering. Low-pressure Na lamps are typically used for street or main road lighting, parking garages, or other security lighting. Because of their niche application, they are non typically considered as a replacement for other types of less efficient bulbs.LIGHT EMITTING DIODE ( LED )In light-emitting rectifying tubes, negatrons and negatron holes ( atoms that lack an negatron ) combine, let go ofing energy in the signifier of visible radiation. This engineering has been around for several decennaries, but many applications of LEDs for illuming have merely late become available commercially as improved coloring material renderings have been developed and costs reduced. LED fixtures use 75-80 % less electricity than incandescent bulbs, and can hold a lifetime 25 times longer than candent visible radiation bulbs.HYBRID SOLAR LIGHTINGIn this emerging engineering, a roof-mounted solar aggregator sends the seeable part of solar energy into light-conducting optical overseas telegrams, where it is piped to interior edifice infinites. Accountants monitor the handiness of solar visible radiation and addendum it as necessary with fluorescent visible radiations to supply the coveted light degrees at each location. Early experiments show that intercrossed lighting is a feasible option for illuming on the top two floors of most commercial edifices. This engineering has other assuring benefits every bit good. The solar aggregator on the rooftop can divide seeable visible radiation from infrared radiation ; the seeable visible radiation can so be used for lighting, and the infrared radiation can be used for other intents, such as to bring forth electricity, for hot H2O warming, or for a infinite heating unit. Because the energy is split, les s heat energy is wasted in illuming ; it is alternatively used for other energy-consuming points within the edifice.Solid-state LIGHTING ( SSL )This are the following coevals of light energy efficiency engineerings which make usage of light-emitting rectifying tubes ( LEDs ) , organic light-emitting rectifying tubes ( OLEDs ) , or light-emitting polymers are normally referred to as solid-state lighting ( SSL ) . Unlike incandescent or fluorescent lamps, which create light with fibrils and gases encased in a glass bulb, solid-state lighting consists of semi-conductors that convert electricity into light ( hypertext transfer protocol: //www.lrc.rpi.edu/programs/solidstate/SSLWhat.asp ) . Harmonizing to a US Department of Energy ( DOE ) estimate no other illuming engineering offers the same degree of possible to cut down energy usage in the hereafter like the SSL. The DOE estimates that energy nest eggs in 2030 from SSL could make 190 TWh, the one-year electrical end product of 24 big power workss ( 1,000MW ) . This they estimate would ensue in 31.4 million metric ton decrease of C and $ 15 billion in energy nest eggs by 2030.RESEARCH METHODOLOGYThe intent of this research is to cognize the best possible illuming engineering that would vouch energy efficiency and aid cut down C emanation from residential and commercial edifices. Probe of the best lighting efficiency engineering would be the important portion of the research and the consequences from it would assist organize the footing for the following coevals of energy efficient engineerings that would be used in places, offices and industries to assist salvage costs, maintain occupations and cut down planetary C emanation. The research would therefore ship on happening out the most cost effectual and energy efficient engineering that can be used in edifices and how CO2 and light pollution can be reduced particularly utilizing following coevals engineerings like the LEDs and Solid-State Lighting ( SSLs ) .PRODUCT INNOVATION AND APPLICATIONSIn footings of merchandise invention and its application, the Light breathing rectifying tubes ( LED ) and peculiarly the Solid-State Lighting ( SSL ) would be the advanced merchandises to be developed to keep energy efficiency and cut down C emanations as they are set to do valued parts over the following 30 old ages. It is estimated that energy nest eggs over the following three decennaries from SSL could make 190TWh which is the one-year electrical end product of 24 big power workss which would in bend cut down 31.4 million metric ton of C released in the Earth ‘s ambiance. LED illuming systems have proved utile in index applications such as issue marks and t raffic signals due to their brightness, visibleness and long-life, while new utilizations include small-area lighting, tract and measure marker and are set to be the lightings for full walls and ceilings in future. The Solid-state lighting ( SSL ) on its portion is progressively used in a assortment of illuming applications because it offers the undermentioned benefits: Long LifeA – Light-emitting diode can supply 50,000 hours or more of life, A which can cut down care costs. In comparing, an incandescent visible radiation bulb lasts about 1,000 hours. EnergyA SavingsA – The best commercial white LED illuming systems provide three times the aglow efficaciousness ( lumens per W ) of incandescent lighting. Colour LEDs are particularly advantageous for colored illuming applicationsA becauseA filters are notA needed. Better Quality Light OutputA – Light-emitting diode have minimum ultraviolet and infrared radiation. Intrinsically Safe – LED systems are low electromotive force and by and large cool to the touch. Smaller, flexible visible radiation fixtures – The little size of LEDs makes them utile for illuming tight infinites and for making alone applications. DurableA – LEDs have no fibril to interrupt and can defy quivers. Beginning: & lt ; hypertext transfer protocol: //www.lrc.rpi.edu/programs/solidstate/SSLWhat.asp & gt ; .MARKET USER GROUPS AND PROJECTIONSThere is a changing market base for merchandises developed utilizing the ethos of illuming energy efficiency peculiarly the LEDs and SSLs which are the following coevals of illuming efficiency merchandises to hit the market and are expected to great aid cut down C emanations by cut downing the sum of electrical power generated for places and concerns. The following groups of market users are identified: Home users: Merchandises from illuming energy efficiency can be used by place proprietors and persons to cut down the sum of electrical power they consume at place through illuming. This they already do through the usage of detectors in their lighting systems that detect human voice, noise or activity before turning on the lighting in topographic points within the place. More merchandises like the LEDs can farther be developed to be used in most lighting at place to farther cut down energy ingestions in residential edifices. Business leaders: There is the opportunity for concern leaders in different industries to cut down the sum of energy they consume in their offices or industrial topographic points. Lighting energy efficiency can assist cut by every bit much as 30 % in some instances of the energy an industrial works consumes therefore salvaging the company costs and besides assisting to maintain occupations. Investor: This group of stakeholders would wish to cognize the degree of net income available in this sort of undertaking and would be interested when they find the immense possible inherent in illuming efficiency engineering and would be excited by the following coevals of engineering in the field such as the LEDs and SSLs. Regulator/Government: Government of most industrialised states like the United States are committed to doing consumers and concerns go green and salvage money and costs by cut downing the energy they consume. They sponsor researches into the development of new LED lighting engineerings that would assist cut down power coevals from authorities and power manufacturers. Therefore this research been done and merchandises developed from it would assist authorities in sensitising people on new information or merchandises to assist them travel green and be efficient in their energy ingestion thereby cut downing C emanation and act as a regulative tool for sustainable development.PRODUCT DEVELOPMENT AND SellingThe research undertaking when completed would see APASI ENERGY COMPANY LIMITED make usage of its result to develop merchandises in coaction with other research workers, makers, public-service corporation companies that are interested and authorities to invent strategies were the mercha ndises would be tested to rate their efficiency and therefore ease a wide acceptance of LED engineering across Scotland and so the UK. Besides professionals in concern and selling would be brought on at a ulterior day of the month to assist manner out marketing schemes to assist pervade place and concern consumers of electrical power to take on the new merchandises so as to cut down their energy ingestions and salvage them costs.ENERGY AND CARBON SAVING PREDICTIONSIn footings of energy and C nest eggs, the efficient usage of illuming in residential and commercial edifices would travel a long manner in guaranting that happens. Energy preservation and efficient usage of lightings would greatly cut down C emanations associated with illuming significantly. At the degree of single families and concerns, preservation and efficiency steps can take down public-service corporation measures, and broader usage of illuming efficiency engineering across the society can ensue in Greenhouse gas ( GHG ) emanation decreases and environmental benefits derived from reduced demand for electricity. For illustration Candescent Fluorescent ( CFLs ) use 75 % less energy and LEDs use 75 to 80 % less energy than candent visible radiation bulbs ; replacing these merchandises for traditional lighting engineerings, for illustration, can cut down net energy usage. The continued widespread usage of efficient illuming engineerings like the Solid-state lighting engineering would be indispensable for GHG emanation decreases with a 2008 survey by the US Department of Energy uncovering that replacing LEDs from their current niche utilizations would salvage adequate electricity to be the end product of 27 coal power workss and cut down 31.4 million metric ton of C by 2030. Estimates by planetary market research company McKinsey & A ; Co. besides note that LED engineering addition such as exchanging from incandescent and CFL bulbs to LEDs by 2030 would supply GHG emanation decreases from lower energy ingestions and besides cost-efficient over the lifetime of the bulbs. Asides from the benefits of illuming efficiency to planetary clime, its other benefits include lower public-service corporation measures to consumers, reduced light pollution and better reading and working conditions.SWOT ANALYSISStrengthsReduced Energy Bills: The usage of timers and detectors in lightings of edifices can travel a long manner in cut downing electricity ingestion from its usage and this can ensue in net nest eggs for places and concerns through lower public-service corporation measures. Longer Life: LEDs supply a longer permanent life when used compared to incandescent bulbs. The LEDs can last for up to 50,000 hours compared to the incandescent 1s that last for 1,000 hours therefore there is a decrease in care costs for concerns and place users. GHG Emission Reductions: Using efficient illuming engineerings and energy preservation can ensue in the decrease of C emitted by residential and commercial edifices. The peculiar acceptance of SSLs is estimated in the following 30 old ages to be a major engineering in cut downing the sum of electrical power generated from both non-renewable and renewable energy beginnings therefore cut downing the emanation of C into the ambiance. Carbon Trading: When successful developed and deployed across the UK, efficient illuming engineering can assist the Scotland and the whole UK save a batch of C which could hold been emitted into the ambiance. With new planetary programs to set up a planetary C market, that would give the UK tonss of C to be traded in the C market.FailingsSensors/Lighting Control: Detectors are non ever able to observe and fit demands of the residents because they are frequently located far from the country of tenancy particularly in the ceilings and can non needfully estimate illuming demands closer to the land. Upfront Costss: This pose a peculiarly noteworthy barrier, though lighting engineerings and patterns pay for themselves over clip due to their long permanent life-time – some of them peculiarly new border engineerings have immense up-front costs that consumers, concerns and local councils may be unwilling to pay. Besides, merchandises like the Hybrid solar lighting ( HSL ) has existed for decennaries but cost considerations have therefore far made widespread acceptance infeasible. Mercury Use: Agnosticism about the quality of CFL bulbs has deterred many clients though makers have been able to turn to such concerns like its hapless reflectors and noisy nature, but concerns are still high amongst consumers about the usage of quicksilver in it. CFLs contain a really little sum of quicksilver in each bulb – less than 1/100 of the sum in an older thermometer. Carbon Decrease: The undertaking looks at how carbon emanation can be reduced through illuming efficiency and due to the fact that C emanation sums to about 11 % from places and about 18 % from commercial edifices numbering 29 % between the two, efficient illuming engineerings as soon used can non cut down the full planetary GHG emanations.OpportunitiesSSLs: The Solid-State Lighting merchandises when to the full researched and deployed have the possible to work out tonss of the jobs associated with light pollution and C emanations from residential and commercial edifices every bit good as salvaging costs. It besides would greatly cut down C emanation into the ambiance by cut downing the sum of electrical power consumed hence in bend cut downing the sum of electrical power needed to be produced. Regulative Tool: This research undertaking would assist regulative organic structures better supply policies and ordinances that would drive concerns and places to go greener and salvage energy. It would besides guarantee that industries emit less C and therefore cut down the sum of pollution traveling into the ambiance.MenacesCompetition: There is the possible menace of competition from rival houses once this research undertaking is made public, as they may desire to bring forth such merchandises. Besides there is possible competition from other states in the universe who may desire first mover advantage in bring forthing engineerings like the SSL which is the hereafter of the lighting efficiency engineering industry. Utility Companies: Companies which sell public-service corporations like electricity may see the development of the SSL illuming engineering as a menace as it is estimated to cut down electrical energy ingestion in places and concerns amounting to up to the equivalent of 27 power workss in the following 30 old ages, therefore they may non be concerted in join forcesing to proving the development of the new merchandises in pilot strategies amongst their consumers to be able to bring forth informations on the sum of electrical use the usage of SSL engineering really reduces so as to besides cognize how much C emanation that reduces from the power workss. Payback Time periods: The payback period for the usage of illuming engineering besides vary in length and edifice residents may be loath to put in efficient illuming engineerings if they will be resigning the edifices before they can harvest the full benefits of these engineerings. Market Entry Barrier: There is a immense market barrier to new entrants in the lighting efficiency engineering market hence the demand for support. To research and besides make many of the new engineerings in the lighting industry requires costs therefore new entrants find it hard to interrupt into the market or even have adequate financess to transport out research on following coevals of engineerings.THE RESEARCH PROJECT TEAMThe research undertaking squad is a multidisciplinary one which has experts on low energy ingestion engineering, technology, environment scientific discipline and direction, concern direction and decision makers drawn from both Nigeria and the UK. APASI ENERGY COMPANY LIMITED would be involved in every phase of the research undertaking from its start through its disposal and coordination until its entry of full research results and study to the patrons ( Carbon Trust ) . The squad would be led by a Head of Research and Development Prof. Ryan Harts and other members from the company and other educational organic structures who would supply some degree of proficient support. Team Leader: Prof. Ryan Harts: Is the Head of Research and Development with APASI Energy Company Limited and a visiting Professor with Heriot-Watt University, Edinburgh and Imperial College, London in Energy severally. He brings more than 30years experience in industrial turbo-machinery and infrigidation systems runing from 10,000 TR surface-cooling workss to utility-scale power-generation equipment. Rob has performed energy appraisals covering more than 500 million three-dimensional pess of refrigerated and freezer infinite, including all facets of energy analysis on controls, cooling, distribution and operation of these systems. With his great passion for research and development in illuming engineering and energy usage, developing research strengths in illuming efficiency, use and C engineerings. Team Members: Prof. Morrison Fischer: A alumnus of Bachelor of Science in Materials Science from University of Wisconsin-Madison, Energy Engineering from University of Edinburgh, and PhD from Massachusetts Institute of Technology in Process Integration and Intensification. He joined the company in 1998 as an expert in Sustainability procedure and Process Intensification which has assisted APASI Energy Company Limited in accomplishing its corporate ends by supplying sustainability and energy decrease schemes, C footmark, and responses to provide concatenation studies. Dr. Franklin Oliver: Is the Chief Scientific Officer of APASI Energy Company Limited, He is a innovator applied scientist in the development of electric propulsion systems since the 1980 ‘s with Tetra Energy Inc. , Oliver brings 28years of extended research and merchandise development background, every bit good as his experience as laminitis and CEO of iCAP engineerings, to APASI Energy Company Limited. Dr. Andrew Wilshire: Holds a PhD grade in Physics/ Electrical Engineering from the Robert Gordon University, Aberdeen in 1980. He is a profound academician and research worker who have published many articles on Waste Water Management, Climate Change and Environmental Pollution, and Power Engineering Improvements with his major strength in electrical power industry. Having spent over 35years in the Industrial sector he decided to convey his huge cognition and attending into research in C decrease engineerings and illuming efficiency usage after go toing a fellowship class at the Heriot-Watt University. Dr. Edward English: He is a senior lector of Renewable Energy Engineering ( Heriot-Watt University, Edinburgh ) . His brings over 20years of Senior Management experience in both the Industrial and Electrical fabrication and distribution markets. Anterior to Heriot-Watt University, he has involved in supplying strategic consulting services to makers, distributers and private equity houses in the supply concatenation markets. Undertaking Administrator: Engr. Ismaila Lawal: Engr. Ismaila Lawal is responsible for scheme and organizing project day-to-day operations. He taps his extended experience taking and reding growing companies with emerging engineering based services.Work PlanUndertaking CostThis Research undertaking will be conducted on a projectized organisational formation which will cross over 12 calendar months with cost and resources allotment as follows:RESEARCH TEAM ( AECL )Cost PER MONTH ( ? )ANNUAL COST ( ? )Prof. Ryan Harts 1,500 18,000 Prof. Morrison Fischer 1,000 12,000 Dr. Franklin Oliver 1,000 12,000 Engr. Ismaila Lawal 750 9,000 SUB-TOTAL51,000RESEARCH TEAM ( HW )Cost PER MONTH ( ? )ANNUAL COST ( ? )Dr. Andrew Wilshire 1,000 12,000 Dr. Edward English 1,000 12,000 SUB-TOTAL24,000AssortedAPASI ENERGY COMPANY LIMITED Overhead Cost: Office Support, etc. ?8,000 Consumables: ?4,000 Heriot-Watt University Overhead Cost: Overhead for office support ?7,000 Capital Equipment: computing machines, etc. ?15,000 Travel and subsistence costs: Meetings, etc. ?14,000 Other costs: Eventuality cost, etc. ?5,000Fund Request ( Total ) ?128,000Section BDelphi StudyAn decision maker would be selected for this portion of the survey which is to fix a Delphi prediction survey for the research undertaking in the first portion of this work. The decision maker would be me and a questionnaire would be prepared and sent out to a group of experts who would so reply them. Delphi calculating harmonizing to Singh and Kasavana ( 2005 ) is a concern research technique used to find the likely happening of future events. It elicits sentiments from little choice group of experts and so tries to construct a consensus on the topic/s handed out to the experts.Questionnaire DesignFor this survey the questionnaire was designed from the background of information on illuming efficiency used in the research undertaking and seven event statements were used in the questionnaire. This was to assist find the result of future engineerings in the lighting efficiency industry. The questionnaire was developed along the prognostic skylines of 2030 ( long term ) and had a five-point likeliness of happening with 1 bespeaking ‘very likely to happen ‘ and 5 indicating ‘not likely to happen ‘ . Space was besides provided at the terminal of the questionnaire to let respondents to subject open-ended anticipations about of import hereafter events that were non identified.Delphi QuestionnaireQ1: All illuming bulbs around the universe would hold been switched from candent 1s to more efficient types? Very likely Likely Not certain Not likely Strongly improbable Q2: Hybrid solar lighting ( HSL ) would hold become executable to utilize in many topographic points? 1. Very likely 2. Likely 3. Not certain 4. Not likely 5. Strongly improbable Q3: Would the up-front cost of having an efficient type of illuming e.g. the CFLs have become cheaper for place and commercial users? 1. Very likely 2. Likely 3. Not certain 4. Not likely 5. Strongly improbable Q4: LEDs illuming engineering would travel from being used in little countries, marks and contraptions into being used as lightings in places? 1. Very likely 2. Likely 3. Not certain 4. Not likely 5. Strongly improbable Q5: Can cheaper versions of Solid-State Lightings ( SSLs ) be produced and adopted for general usage for place and commercial users? 1. Very likely 2. Likely 3. Not certain 4. Not likely 5. Strongly improbable Q6: What is the likeliness of usage of SSL engineerings in places and offices cut downing C emanation by up to 31 million metric dozenss through decreased electrical coevals by 2030? 1. Very likely 2. Likely 3. Not certain 4. Not likely 5. Strongly improbable Q7: Is there a likeliness of any other engineering coming out before 2030 that would do the SSL engineering obsolete, which at nowadays is the hereafter of illuming engineering? 1. Very likely 2. Likely 3. Not certain 4. Not likely 5. Strongly improbable Any other remarks: aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦aˆÂ ¦Sample Size/ResponsesFor this Delphi study the sample size to be used to discourse the above questionnaire would be a group of experts numbering 25 drawn from the energy industry peculiarly those with adept cognition on illuming energy efficiency, other would be from technology, environmental surveies and edifice engineering industry. The panel of experts to be used in this survey would consist of 10 experts from the energy industry with many of them holding huge cognition in illuming energy efficiency engineering, 7 technology experts, four environmental surveies specializers and four edifice engineering experts particularly those with old cognition in edifice green edifices. In add-on each expert had to be interested in the result of the consequences from the survey either through their sort of work or as necessary information for their ain field of survey. Besides, the panel of experts chosen had to be accessible. The Delphi questionnaire would be mailed to the panel of experts with a stamp self-addressed envelope in it, so that they can direct their responses back for free. Two telephone calls would besides be made to trail up responses. The first call to each of the panelists would be to verify if they have received the questionnaire, a 2nd call would be made to promote questionnaire completion and entry. The responses expected from the survey would be issues like what opinions the experts have on current illuming efficiency engineering like the CFLs, what would be the province of illuming engineering in the hereafter and the likely impact SSL would hold on illuming engineering and C emanation decrease in the hereafter. The hope of making the Delphi survey would be to assist manner out what best illuming efficiency engineering to prosecute in the hereafter. It is hoped that the survey would assist cast visible radiation on the importance of the SSL engineering for the hereafter, whether the HSL engineering can be revamped and made more executable and cost-efficient for mass acceptance and how easy it would be for residential and commercial edifices to hold all gone green by 2030 as it is soon expensive to make so now. Delphi Study Importance to ‘Future Technologies ‘ The importance of Delphi surveies to future engineerings can non be over-emphasized as it is the fulcrum on which of import determinations are made as to which future engineering to prosecute and which would non be executable to travel after. Delphi as a process harmonizing to Singh and Kasavana ( 2005 ) is used for arousing and polishing sentiments of a group of people normally experts in that field of survey until a consensus is reached and the hereafter of that field accurately forecasted, though it besides allows for dissenting sentiments excessively. It has been carried out on a regular basis in Japan in the last 40 old ages to calculate the hereafter of engineering in that state which has seen Japan go a universe leader in technological development. It is besides in usage in Korea where both the exploratory and normative attacks are used ( Taeyoung 1998 ) . The Delphi method is typically used in engineering prediction and it is the most suited manner to acquire a clear image of what engineering would be of import to the society in the long-run hereafter and besides a manner of utilizing engineering to work out awaited hereafter jobs before they arrive upon us by tapping into the encephalons and experiences of experts in any technological field being forecasted. It is besides of import as it helps technological houses meet with forecasted demand in the hereafter of any engineering they have produced or are in the procedure of researching so that future demand do non out-strip future supply hence Delphi survey is an of import tool for ‘futures engineerings ‘ .

The Privatization of Social Security essays

The Privatization of Social Security essays Social Security was implemented in 1935 as part of Roosevelt's "New Deal" following the Great Depression and the collapse of the American economy. It was enacted to be a fully funded retirement plan, meaning its benefits are paid out of a fund built up over the years from contributions made by Social Security taxpayers. The program's first step away from this was in 1942 when it began to pay out its first pension. There is a crisis within the program that we speak of today which deals with the impending lack of funds we will have in the near future. It is predicted that the so-called "Social Security trust fund" (a bunch of Treasury Department IOU's, in actuality) will be depleted somewhere around 2027. This is a concern because Social Security has been turned into a pay-as-you-go system. Today, workers outnumber retirees with a ratio of around 3.4:1. iOnce the baby boomer generation begins to retire and causes a reduction in the workforce, the worker to retiree ratio will be close r to 2:1 by 2040. This is distress to our nation because we will not be taking in enough money to pay out the pensions of the retirees. Our government has already tried to reduce the impact of the Social Security problem by raising the percentage of taxes taken out of individuals' paychecks, by raising the maximum level of income taxed, and by raising the retirement age to be 67 in the year 2022. According to Social Security's activists, the most likely picture implies that the payroll tax would need to rise from 12.4% to more than 19% in 2075 to pay future pensions ("Straight Talk"). The chart portrays this situation. This solution and others have not and will not be enough to solve our problems. These are only short-term fixes and the problem reaches far beyond the baby boomers generation. There must be other steps taken and one main possibility is to privatize Social Security, whether in whole or just partially. It is this privatization issue and i...