Philosophy of life Essay

?I saw this statement in Mr. Laxman Gnawali’s PC and I duplicated it immediately, I don’t know yet I loved that line without a doubt. The statement was composed on the mass of some park the spot was truly perfect and that image indicated that it was extremely decent clean with loads of trees. Subsequent to looking through it in the web I discovered it that it was the credit to the individuals who lost their lives in the war. We were discussing the showing instructional course. We were informed that we can accomplish the following level in our profession yet we have to think and do the meeting conveyance genuinely. There the statement was very related in light of the fact that we had the opportunity to be an instructor mentor yet we must be progressively dependable and build up certain propensity, there with the opportunity comes the obligation. Taking a gander at the historical backdrop of opportunity one can generally consider war to be the synonyma for the opportunity. The main thing that comes in our brain when we talk about opportunity is war and squabbles. This expression is generally utilized by the individuals to show appreciation towards the individuals who have lost their life in wars. There are such a significant number of articles and books composed on them or about them. Shiv Khera have composed a book â€Å"freedom isn't Free† and there are mny others who have discussed it and this is the expression I think will be talked in coming future or as long as the presence of the individuals. Opportunities are privileges of people, as indicated by Webster it’s a state where someone can act and live as the person picks, without being dependent upon any, or to any undue, limitations and limitations. As our nation is vote based nation and we gladly state that we are free, we have each opportunity to do whatever we like to however at the outset we battled for our opportunity, would we be able to at present be battling. Before all else we battled for our opportunity, with the birtishers, we battled with them not for the opportunity however to keep our nation free. We battled for the majority rules system from the Rana rulers and afterward we battled for the barbarous illustrious guideline and we accomplish the opportunity however the inquiry remains that we encapsulate been battling. Presently we can practice unrestrained choice and settle on decisions autonomously of any outside deciding power, however are we really free. I think we are as yet battling inside ourselves for the opportunity we long for. History has been our observer that at whatever point we battled we battled to govern and not for the turn of events or development and we are as yet doing that. First we had MAHISHPAL than came GOPALA DYNESTYR and KIRAT after that numerous other than the most compelling SHAH now we have government officials managing still to control not to create. In the event that I talk about the opportunity realting with our history than it will never wrap up. Students of history accept we’re not free, however then again I simply state we have our privileges and limits. Since totally unlimited opportunity of activity would make serene human presence inconceivable, a few limitations on opportunity of activity are fundamental and unavoidable. However, we do need to perceive that fundamental restriction, to make our life safe. We the individuals need to turn over a portion of our privileges so our nation performs right and many state that the legislature is in our business however on the off chance that they weren’t all disorder would happen. However, Freedom turns into a cost, an expense of simply surrendering a few rights consequently to be an incredible country. In any case, some expense could turn into a worry. In the affirmation of freedom, Thomas Jefferson have plainly expressed the troubles and issues that America needs to look on the procedure. The ongoing and clear model abo;ut opportunity isn't free is our own country’s battle against the maost. We confronted troubles than one can envision in any case we defeated with all the challenges we confronted. During the time spent opportunity government needs to incorporate all the militaries of damp also. There comes the compensation for opportunity. We needed to experience injuries which a large number of the country have experienced yet that injury was from our own kin to their own family. India, the greatest nation with enormous populace, which is developing ijn each field in this advanced time, have confronted issues. They were colonized by British individuals and rewarded in the most unfeeling act that one would ever treat to another person in their own nation however they battled for their opportunity and have lost such a significant number of lives yet finally they are free. The installment that they paid for the opportunity are the lives, the incredible government officials and eager young people, there area were isolated into parts and there is still battle among those nation. In spite of the fact that they got the opportunity they are as yet paying for it, that is the reason opportunity isn't free. America the place that is known for new chances at life, was not free and with the assistance of numerous political dissidents they announce the autonomy. Rather than opportunity they call it autonomous, as everybody knows in America the majority of the individuals are from various nations, the local individuals, the red Indians have really lost their character so as to be autonomous or free. the nation have confronted such a large number of challenges and as yet confronting yet it is the free nation everybody says and accepted that yet they have the most criminal records and most dissatisfaction inside their nation. The divided society, conceited individual, loss of culture and center purpose of fear mongering are the installment USA is paying with. Each nation have their own battle and history of opportunity and the sorts pf installment they are paying as the opportunity isn't free. All the extraordinary individuals in this world has paid either route for the opportunity they battled for. Nations have confronted the war and loss of the adolescents however the person who are the incredible compelling for that occasion lost their family ,cherished once, and their own life too. Hitler’s biography additionally recommend that opportunity isn't free.he despised zuse and to liberate himself from them he carried out the wrongdoing which no human can overlook and he is the most barbarous individual in this world. He was unable to confront the disappointment and to make himself liberated from the idea of disappointment he kept doing the things which kept him liberated from that idea and the installment for the opportunity of his idea is being coldblooded and called killer and be separated from everyone else in for his entire life. Anyway his homicide is still have no genuine proof however he was murdered in light of the fact that he was getting savage and danger for some individuals so in the mission of opportunity to free the maltreatment and sentiment of disappointment he paid it with his life. Mahatma Gandhi, India consider him their BAPU, was despised by his child since he had no an ideal opportunity to go through with the family as he was in extraordinary strategic free his nation from the Birtish. He liberated his kindred nation however the installment was his own youngsters, he was murdered by the youngster as individuals saw that his liberality is causing the nation into numerous nations. He was liberated from all the material things and cherished by all the individuals yet to pick up this opportunity to adored by everybody with his life. The four saints, who was executed by rana rulers for their opportunity discourse additionally shows that whatever our nation have isn't free. in the manner we are getting a charge out of or grumbling about is really the installment that those saints paid. They were from notable and taught family yet in the mission to liberate the nation from the ranas they paid their life and we got opportunity. Being anybody as human isn't liberated from all the obligations and decides that we have to follow. As an infant you are allowed to cry over anything besides the installment is more often than not individuals don’t comprehend what your concern is. As an understudy you are permitted to settle on clamor or settle on wrong decision yet the installment is later on you need to flop in your test and in your life. As a social laborer you have the opportunity to help other people and accept their agony as your own and the installment you need to pay is your time, for you and for your family, as a specialist, your opportunity is to utilize any model yet the installment is you must be answerable for the lives of the individuals who will remain there, as essayist you are allowed to compose anything besides the installment is nobody will expound on you, as the educator you have the opportunity to direct your study hall as you needed yet the installment is you must be the model constantly, you can't commit any error on the off chance that you do you need to manage all the results that may happen or the installment is your time and exertion. At the point when you see some promotion on TV about the free plan, we generally need to purchase something with it since nothing is free, not even the water, the air. Opportunity is really the illustration for all the duties that accompanies opportunity. At the point when one turns into the priest or join the governmental issues, as in our nation everybody accuses them to be the negative one, you are liberated to be the lawmaker however the installment is you won’t be trusted. At the point when I previously began to show I don’t have any opportunity to picked what I do in the homeroom, so I was simply following whatever the educator advised me to do and there nobody expected anything from me so I was liberated from the duty and the installment I was paying is getting the low compensation. As I built up the showing learning expertise and given the full obligation of the class, I had the opportunity to do any sort of things in the homeroom and make it my own and incorporate all that I have adapted however the installment is time and the ceaseless remaining burden and no self time. In like manner with the PGDE course we had the opportunity to decorate ourselves and the installment is all the rules that was set for us to be what we were prepared to be. Opportunity IS NOT FREE, even the statement is dubious in light of the fact that when opportunity isn't free than for what reason would one utilize these words and on the off chance that it is utilized why it is generally related with the individuals who have accomplished such a great deal for the advancement of the person?

Interview consumers Assignment Example | Topics and Well Written Essays - 1000 words

Meeting buyers - Assignment Example The 8 megapixel camera found in Galaxy S2 has glimmer and self-adjust however no channel (Marcus 2011). The iPhone 4S has bigger capacity alternatives than the Galaxy S2. It offers stockpiling limits of 16GB, 32 GB and 64GB. Then again, Galaxy S2 has a capacity limit of 16GB and can be extended up to 48 GB. The iPhone 4S is likewise littler with measurements of 115.2ãâ€"58.6ãâ€"9.3mm. The Galaxy S2 has measurements of 129ãâ€"66ãâ€"8.9mm (Smith 2011). Dissimilar to Galaxy S2, iPhone 4S backings the voice-to-instant messages. The client can send a voice message to apple by means of an amplifier to Apple and get an answer inside a brief timeframe. In addition, iPhone 4S has an individual right hand that helps in sending content and messages, booking gatherings, giving climate refreshes, setting updates, noting complex inquiries, calling, and processing different transformations. The individual right hand in Galaxy S2 has restricted capacities, for example, music and propelling applications, sending messages, assembling and booking conferences (Marcus 2011). Buyer B: Galaxy S2 is my advanced cell of decision. This contraption has a bigger screen of 4.3 inches which has a Super AMOLED Plus showcase. This showcase is better than the Retina show of iPhone 4S which is littler at 3.5 inches (Smith 2011). World S2 has a RAM of 1GB while iPhone 4S has 512mb. The Galaxy S2 likewise downloads information at a quicker speed than the iPhone 4S. Universe S2 downloads information at a speed of 21mbps while iPhone 4S downloads at 14.4mbps. The Galaxy S2 front camera is more nitty gritty than that of ipohone 4s with 2 megapixels. The iPhone 4S has a VGA camera. Cosmic system S2 is likewise lighter with a load of 117 grams while iPhone 4S weighs 149 grams (Marcus 2011). In contrast to the iPhone 4S, Galaxy S2 has ability to transmit installment data remotely, in this way making installments by charge cards simple and effective. World S2 can be utilized to make remote installments in buying merchandise, entering

Considering the Audience

Considering the Audience “I dont have an audience; I have a set of standards.” â€"Don DeLillo Do you consider your audience when youre writing? I occasionally hear a version of this question from students in my writing class. The answer, however, is not as simple as one might think. My first inclination is to reply, “No.” But that’s not entirely true: if I’m being honest with myself, ultimately the answer is both yes and  no. No because I am not a demographer: I don’t attempt to craft a message for 35â€"55-year-old white females or high school sophomores with divorced parents (though both demographics visit our website). Nor do I attempt to craft a message to appeal to the largest audience: doing so will result in a poorly crafted product. Constantly worrying about what others might  think is futileâ€"and can translate into disingenuousness in your work. Hence why we removed comments from our website: we didn’t want to cater our message to the 0.1% of naysayers trolling the comment threads. Yes because when I consider the readers, they look like me. Not that they’re 30-something-year-old, 6’2? , white males, but I assume my audience thinks  much like me: open-minded, inquisitive, introspective. My typical readers struggle with important life issues, just like me. They’re inherently flawed, just like me. These are the points where we connect with one another. Thus, I don’t attempt to craft a message that will appeal to all: I simply write for youâ€"someone who thinks like me. We will disagree occasionallyâ€"even I disagree with myself at timesâ€"but we’re receptive to new ideas, and we’re willing to change our minds. There are obvious examples in which this method of creation will not workâ€"diapers, medications, computersâ€"but for many creative types, it’s best to consider yourself the audience: despite our differences, there are millions of people just like me and you. Subscribe to The Minimalists via email.

The Democracy New Developments - 1405 Words

2.3 Deliberative democracy: new developments As research done within the area of deliberative democracy, and deliberation in general, is still ongoing, this study relies on a newer approach to deliberative democracy mainly inspired by Dryzek (2010). According to Dryzek (2010), â€Å"a system can be said to possess deliberative capacity to the degree it has structures to accommodate deliberation that is authentic, inclusive and consequential†[emphasis in original] (Dryzek, 2010, p. 10). More specifically, this means: †¢ Authentic: Deliberation should encourage reflection upon preferences. The deliberation should furthermore be characterised by communication that everyone can accept. (Dryzek, 2000, p. 68) †¢ Inclusive: Everyone should be able to†¦show more content†¦(Fraser, 1990, p. 64) There are two main points to derive from Frasers (along with other feminist theorists) criticism. First, social and cultural differences within societies have an impact on the possibility to engage in deliberation in the public sphere. Second, these differences result in not only inequality but also marginalisation. It is indeed difficult, especially when investigating empirical evidence, to argue for a public sphere, which is cleansed from any form of power relations and marginalisation (REFERENCE) – a so-called ‘neutral ground’. However, I will argue that the requirement of inclusiveness becomes less important if the end-goal of the deliberative process is not consensus-making, but rather to obtain meta-consensus. 2.4 Meta-consensus as the outcome of a deliberative process Although the more specific conceptualisation of meta-consensus is to be found in the work of Niemeyer and Dryzek (2007), the idea behind it has been around for a long time. According to Niemeyer and Dryzek (2007), deliberation â€Å"requires that individuals transcend private concerns and that they engage with competing views, taking them into account as a part of their evaluations† (Niemeyer and Dryzek, 2007, p. 500). This view upon deliberation is highly pluralistic and remains as the main requirement for an authentic deliberative process to happen. However, this has been formulated earlier by, for example, Hannah

The Narrative of the Life of Frederick Douglass and its...

The American dream can be defined as the promise of living in America with opportunities for all, regardless of social class, and according to their ability and effort (Schnell, 2010). Proponents of the American dream believe that there is equal opportunity for all in the American society to achieve success. Success is not pegged on social status, race, or creed, but rather on an individual’s own efforts. The definition of the American dream has unique interpretations to different people. The most common meaning is that of a life of abundance and prosperity, characterized by economic rewards that enable one to live a middle class life of comfort. Here, success is measured by material possessions such as beautiful homes, cars, a high†¦show more content†¦Douglass’ narrative clearly illustrates how these components played a part in enabling him to realize his ultimate dream of freedom. Individualism The American dream is closely tied with individualism, where there is emphasis on personal achievements as well as individual rights. In American society, everyone is entitled to their own opinion, and the freedom to express such opinions. With this right, each individual is expected to push himself towards success on the basis of his/her own personal efforts. The American dream is also based on the belief that anyone who has enough talent, will, drive, and merit can overcome insurmountable obstacles to achieve whatever they set their minds to. However, not everyone can achieve success as it is based on an individual’s abilities, initiative, and willingness to take risks. Frederick Douglass demonstrates this trait of individualism throughout his life, with his willingness to take risks, and to overcome obstacles placed in his way, so as to acquire whatever he sought. This trait is what sets him apart from other slaves, and is best illustrated through his efforts to learn how t o read and write. Though his master forbade him to learn and took away his only teacher, Frederick was able to overcome this obstacle and find other teachers, by befriending young white boys who knew how to read and write. Frederick’s individualism seems to have been a resultShow MoreRelatedAmerican Romanticism As Portrayed By Walt Whitman s Song Of Myself979 Words   |  4 PagesJesha C. Lor Callis Modern Civ-LIT 3/21/16 Song of myself (1855) Narrative (1845) American Romanticism as portrayed by Walt Whitman’s â€Å"Song of Myself† and Fredrick Douglass’s Narrative American Romanticism focuses on the imagination, emotions and idealized perspectives of the world. Romanticism is in opposition to the forms and conventions of Neoclassical Literature and is a reaction to the Age of reason which preceded Romanticism. Reason was ruled out in this era in place of imagination, individualityRead More Interpretations of Slavery Essay3734 Words   |  15 Pagesprevented from making their own choices regarding physical reproduction. Western slavery took each of these slave characteristics to a new level and as a result there are many authors who wrote about the evil institution of slavery in the Colonies. American literature is full of authors who describe, condone or oppose slavery, the most informative and influential of whom were Black writers because many were able to give a personal perspective on slavery. These Black writers had to struggle to be acceptedRead MoreRealism and Freedom in Literature of Dwight D. Eisenhower1948 Words   |  8 PagesRealism and Freedom Dwight D. Eisenhower once stated, Freedom has its life in the hearts, the actions, the spirit of men and so it must be daily earned and refreshed-else like a flower cut from its life-giving roots, it will wither and die (Rather 1). The meaning of the term freedom is often open to interpretation, and can represent different meanings to different groups of people. Up until the Realistic time period, many Americans viewed freedom as being able to enjoy the rights given to them underRead More After coming to America Essay1655 Words   |  7 PagesAfter coming to America All people seem to want the same basic things out of life regardless of race or religion. Universally, people want a good job, a healthy family, and a chance for their children to have a better life than the one they have. Families that already possess these things, whether through their own hard work or merely by way of inheritance, rely on the existing power structures within society to ensure that their future happiness continues . But what do people who do not belong

A Brave New World by Aldous Huxley - 895 Words

Imagine living in a society where every single person acts and behaves the same. Do you think it’s possible? In the novel Brave New World, Aldous Huxley tells of a society where everyone is the same but, compared to today’s society, everything is different. Huxley tells of a world where everything that happens or takes place is because of one’s own desire and nothing more. The hero in the novel, a â€Å"savage† named John, is Huxley’s main focal point. It is through his eyes and mind that the reader sees what’s going on. Now when I read this novel, I began to think, â€Å"Could this perfect, conformed world actually exist†? Huxley describes things that we see today as being backwards. Things that we see as good, Huxley sees it as bad. The word ‘mother’ in our society today, describes a woman so loving and warm. Huxley uses the word as a sexual thing. Something that arouses men. â€Å"Try to realize what it was like to have a viviparous mother.’ That smutty word again. But none of them dreamed, this time, of smiling.† This feeds into to Freud’s ideas that men are naturally attracted to their mother, knowingly or unknowingly. However, many critics failed to understand the point Huxley was trying to make. They didn’t find his point relevant, insightful, alarming or particularly original. He talks of a combination of totalitarian government and ubiquitous drugs and sex as being what society should be based on. Huxley’s described a government where all decisions had to be made through them.Show MoreRelatedA Brave New World by Aldous Huxley668 Words   |  3 PagesIn Brave New World, there are similarities that have a deeper meaning that we can understand. There are personal effects in Aldous Huxley life that contribute to what he has written in the book. Aldous Huxley throughout his life have seen, done, and events have happened to him, just like all of us, but he has expressed it in his book. So when Aldous wrote the he had so many ideas. 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Upon its release, the narrative became widely banned all over the United States due to the unorthodox thoughts and actions of multiple characters in it. Early readers, as well as modern day audiences, feared and rejected the ideals that Huxley incorporated into his perfect society; however, our society today is heading towards the dark paths the older generations desired to avoid. Read MoreA Brave New World by Aldous Huxley1684 Words   |  7 Pagesimperfect world and is usually only a hopeful dream. These types of worlds can greatly be described in detail through the world of science fiction. Aldous Huxley was an English writer who lived during a time when war and chaos were engulfing the world. His works reflect his view and thoughts on a dystopia, which is a false utopia, and describes what could occur in possible governments of the world. 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Pyramids Essay Example For Students

Pyramids Essay Pyramids The pyramids of Egypt are the last remaining Wonder of the World. Even in the days of Ancient Egypt when powerful pharaohs ruled over Egypt the pyramids were considered a wonder. Today, the ruins of 35 pyramids still stand near the Nile River in Egypt. These pyramids were built to protect the bodies of Egyptian kings and other royalty but before the pyramids became the standard for burials, tombs were used for Egypts early rulers, nobles, and other high ranking officials. This group of hierarchy were laid to rest in rectangular, flat-topped mastabas of mud and brick. These mastabas were about 12 feet high and were easy targets for tomb robbers. The first pyramid built was the Step Pyramid of Saqqara; it stands in the open desert south of Cairo. The Step Pyramid was built for King Djoser. The people of Egypt willingly labored to build these monuments for their rulers, believing that, as gods, the pharaohs had to be properly provided for in their afterlife. The Step Pyramid was built around 2630 B.C. It exhibited a radical new shape never before used, and it was so new the Egyptians used its silhouettes as the hieroglyphic for primeval mound, the first piece of earth to emerge from the soup of creation (Malek 90). King Djosers chief architect for his pyramid was Imhotep. It is thought that King Djosers stone tomb started out having the standard shape of a mastaba. Then, as construction progressed, a concept evolved. Imhotep began to place one flat-topped stone structure atop another until he had created six steps by which the king could ascent to the heavens after death. The Egyptians had a firm belief in an afterlife and viewed their pharaohs as gods. These beliefs were a strong force that led to the piling up of stones to such a monumental scale. The Step Pyramid rose to a height of 204 feet; later pyramids increased in height as their designs changed. It was not sufficient that a pyramid be immense, but it had to be built so solidly that it would stand forever. Although the Step Pyramid was the first pyramid, the Great Pyramid is the best known. The Great Pyramid was built for King Cheop. It is the largest pyramid of the three at Giza. The three pyramids built for King Cheops, King Chephrun, and King Mycerinos stand on the west bank of the Nile outside Cairo. They are the largest and best preserved of all Egyptian pyramids. They were built between 2600 B.C. and 2500 B.C. However, it is hard today to imagine the manpower involved in building the Great Pyramid (especially in our world of computers, machinery, and advanced technology. The ancient Egyptians had no machinery or iron tools to help in the building of the pyramids. The large limestone blocks used to build the pyramids were cut with copper chisels and saws. Most of these stones came from nearby quarries. An interesting fact to note is that camels were not brought into use until twenty centuries after the pyramids were built. Human strength was used to drag the stones from the quarries or from the boats (Casson 76). The stones were then dragged and pushed into place for the first layer of the Great Pyramid, which was placed on flat level ground. Next, long ramps were built of earth and brick moving the blocks up the ramps to form the next layer. After the top layer was finished the workers covered the pyramid with an outer coating of white casing stone, which gave the Great Pyramid a brilliant shrine during the day when the sun shone down on it. The outer coating of white casing stone were laid so perfectly that from a distance the pyramid appeared to have been made from a single white stone. The main difference of the Great Pyramid compared to other pyramids, besides the fact of its size, is the difference of the location of the burial chamber. The Great Pyramids burial chamber was in the uppermost part of the pyramid. .u9bbf607f23ea3fe1ff17a4bc6fb029a2 , .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .postImageUrl , .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .centered-text-area { min-height: 80px; position: relative; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 , .u9bbf607f23ea3fe1ff17a4bc6fb029a2:hover , .u9bbf607f23ea3fe1ff17a4bc6fb029a2:visited , .u9bbf607f23ea3fe1ff17a4bc6fb029a2:active { border:0!important; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .clearfix:after { content: ""; display: table; clear: both; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 { 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; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2:active , .u9bbf607f23ea3fe1ff17a4bc6fb029a2:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .centered-text-area { width: 100%; position: relative ; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .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; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2:hover .ctaButton { background-color: #34495E!important; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2 .u9bbf607f23ea3fe1ff17a4bc6fb029a2-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9bbf607f23ea3fe1ff17a4bc6fb029a2:after { content: ""; display: block; clear: both; } READ: In cold blood Essay This was something new, burial chambers in other pyramids were located beneath the pyramid. To reach the burial chamber inside the Great Pyramid a upward sloping corridor was built. The ramp for the kings ascent to the polar stars was therefore lost. A substitute for the ramp was devised in the form of a northern ventilation shaft, which was a replica of the lower entrance corridor. King Cheop was to be positioned facing this northern view. But what of King Cheop? His body has never been found. Did he have a secret chamber built for himself that was so well hidden that it was impossible to find? Did thieves steal or destroy King Cheops body for the jewels and gold hidden within the body wrapping? Answers to these questions have yet to be found. It is estimated that it took about 2,300,000 separate blocks, each weighing an average of two and a half tons, to build King Cheops Great Pyramid. Some blocks weighed up to fifteen tons. The base of the Great Pyramid covered thirteen acres and reached a height of 481 feet. To accomplish the feat of building the Great Pyramid it took 23 years and a work force of tens of thousands peasant laborers (Hallibunton 335). The enormous size of the Great Pyramid can better be visualized with the fact that Saint Pauls Cathedral and the House of Parliament could be housed within the Great Pyramid. If the Great Pyramid was sawed into cubes, measuring a foot in each dimension and placed in a row, they would extend over a distance almost equal to the circumference of the earth (Edwards 104). It is no wonder the Great Pyramid is still a Wonder of the World. All pyramids, no matter their size, design, or age, share a common curse. Tomb robbers have plundered the pyramids for centuries stealing gold, gems, beautiful furniture, clothing, musical instruments, even sacred vases containing a pharaohs vital organs. All these items were common items found inside a burial chamber. Now they have all been lost forever because of tomb robbers of today and yesterday. The well known Arabic proverb Death comes on wings to he who enters the tomb of the pharaoh (Casson 81) meant little to the tomb robbers. Others who have heard the warning and chose not to listen or believe have eventually paid the price. One such person was Lord Carnarvon, who headed the excavation of King Tutankhamuns tomb. Lord Carnarvon died quite unexpectedly from a 4000 year old fungus he came in contact with inside the tomb of King Tutankhamun. Shortly after Lord Carnarvon parished, other members of the excavation party began to meet with unusual and sometimes unexplainable accidents. These so called accidents claimed the lives of thirty six members of the party (Reeves 31). Was it the pharaohs curse or just coincidence? In Las Vegas, Nevada the hotel-casino Luxor was built. The Luxor was built in the shape of a pyramid. A replica of the Sphinx sits in front of the giant pyramid shape casino. When the hotel was being built a report was given, and the construction workers interviewed were afraid of the pyramid shaped casino. The workers believed in the Curse of the Pharaohs. The numerous accidents had sent other workers to the local hospital emergency room. Other Las Vegas casinos are blaming their misfortunes on Luxor. It is no wonder that magic, superstition, and the unknown has followed mankind since the earlier times of the first mysterious pyramids!

Divinity, Sexuality And The Self Essays - Literature,

Divinity, Sexuality And The Self Through his poetry, Whitman's Song of Myself makes the soul sensual and makes divine the flesh. In Whitman's time, the dichotomy between the soul and the body had been clearly defined by centuries of Western philosophy and theology. Today, the goodness of the soul and the badness of the flesh still remain a significant notion in contemporary thought. Even Whitman's literary predecessor, Emerson, chose to distinctly differentiate the soul from all nature. Whitman, however, chooses to reevaluate that relationship. His exploration of human sensuality, particularly human sexuality, is the tool with which he integrates the spirit with the flesh. Key to this integration is Whitman's notion of the ability of the sexual self to define itself. This self-definition is derived from the strongly independent autonomy with which his sexuality speaks in the poem. Much of the Song of Myself consists of a cacophony of Whitman's different selves vying for attention. It follows that Whitman's sexual self would likewise find itself a voice. A number of passages strongly resonate with Whitman's sexuality in their strongly pleasurable sensualities. The thoroughly intimate encounter with another individual in section five particularly expresses Whitman as a being of desire and libido. Whitman begins his synthesis of the soul and body through sexuality by establishing a relative equality between the two. He pronounces in previous stanzas, You shall listen to all sides and filter them from yourself, and, Not an inch nor a particle of an inch is vile, and none shall be less familiar than the rest. Here, he lays foundation for the basic egalitarianism with which he treats all aspects of his being for the rest of the poem. This equality includes not only his sexuality, but in broader terms, his soul and body. In the opening to section five, Whitman explicitly articulates that equality in the context of the body and soul: I believe in you my soul, the other I am must not abase itself to you, And you must not be abased to the other. He refutes the moral superiority of the soul over the flesh historically prevalent throughout Western thought. With that level groundwork established, he is free to pursue the relationship between the soul and the body on equal footing. The mechanism of this integration may be one of a number of possibilities included in Whitman's work. Whitman's notion that All truths wait in all things very broadly defines the scope of his desire to distill truth from his surroundings. He indicates that ...all the men ever born are also my brothers, and the women my sisters and lovers, suggesting that perhaps sensual understanding of the interconnectedness of man bridges the spiritual to the corporal. Within the context of the passage, the cause/effect relationship between sensual contact and transcendent understanding becomes clear. His declaration that I believe in the flesh and the appetites, Seeing, hearing, feeling, are miracles reinforces the concept that truth is directly discerned through the union of the spirit and the senses. Human sensuality thus becomes the conduit that bridges the spirit and the flesh. Whitman demonstrates the result of that synthesis to be peace and knowledge that pass all the argument of the earth. He expands this revelation of truth and understanding as the passage continues, linking it to divinity as he invokes the image of the hand of God and the spirit of God. The union of the spirit with the body thus becomes a natural, common pathway to divinity. This association to the cosmos, facilitated by a union of the spiritual and the corporal, is then a direct result of the expression of the sexual self. Whitman's choice of the word reached in ...And reach'd till you felt my beard, and reach'd till you held my feet, is a powerful image. It connotes not only a physical bridging, which Whitman establishes as a elemental force in its sensual nature, but also a direct application of the will. In this context, this passage echoes Whitman's earlier Urge and urge and urge, always the procreant urge of the world, in its hunger and desire. Both words reached and urge indicate willed effort, revolving around the basic function of human nature in sexuality. The centralness of the procreant urge to both these passages makes the sexual act the volta around which comprehension and truth are achieved. One of the key truths that Whitman explicitly communicates is the notion of the interconnectedness of mankind. This theme echoes throughout Song of Myself in the collection of voices through which Whitman speaks throughout the poem, voices

Financial Institutions and Economic Growth Essays

Financial Institutions and Economic Growth Essays Financial Institutions and Economic Growth Essay Financial Institutions and Economic Growth Essay 2000). Other things being equal, better-off and more dynamic societies have not only a larger amount of available resources out of which to save but also a higher propensity to do so. Throughout these years, the Scandinavian countries would appear to have been at an advantage in both respects relative to southern Europe. Before we analyse this relationship, however, we must deal with two potential distortions. The first concerns the probability that not all the financial resources considered in the preceding sections originated domestically. At a time of great international factor mobility, a poorer economy might well have a weaker domestic supply of savings to fuel its financial development, but be able to compensate this by attracting foreign-owned capital. On the other hand, more developed financial systems might reinforce their advantage by drawing in, additionally, large amounts of funds from abroad. Table 7 shows that at the end of our perio such net inflows were indeed contributing significantly to the growth of all financial systems but far more in the Scandinavian case. The latter’s superiority in attracting domestic resources was thus matched by a similar strength in the international sphere, a fact that has been noted before (Rousseau and Sylla, 2001). On the other hand, this did not alter much our previous ranking of these countries and still leaves to be explained the considerable gap between the two groups of countries in terms of financial liabilities per capita. table 7 about here] A second potential source of distortion was the effect of hoarding on financial activity. Given the alleged inclination of southern Europeans towards this form of storing wealth, as might befit traditional peasant societies, it seems fair to ask how much of the region’s weaker institutional savings performance was due to this. For the sake of argument, we suppose that Scandinav ian countries were too advanced, socially and culturally, to engage in such practices. We further assume that in southern Europe this concealed wealth would have taken the form mainly of gold coin silver would have been too bulky – and therefore the stock of this type of specie would have been its upper limit. In the late 19th century, this varied between ? 1. 4 and ? 2. 4 per capita, for Italy and Portugal respectively, with Spain somewhere in between (Zamagni, 1993; Reis, 1992; Tortella, 1974). Even if we admit that as much as half of this was hoarded, this would have entailed only a small correction of the figures in table 7, of about ? per capita, thus leaving its essential findings untouched. [15] Recent evidence based on more than seventy developed and less developed economies, between 1960 and 1995, have established a strong correlation between indicators of private savings and financial development. More importantly, they also provide us with regression estimates that quantify the positive influence of per capita GDP on the savings rate (Beck et al. , 2 000). The lack of any comparable evidence for earlier times prevents us from replicating this exercise here but we can follow another, less exact approach. This rests on the assumption of linearity in the relationship between the two variables, which is suggested by the behaviour of the underdeveloped economies that comprise this sample. Using the data in Prados (2000), we find that average differences, between Scandinavia and southern Europe, of income per capita were respectively 12 % in 1880 and 25% in 1913, and we shall presume that the gap between gross savings must have been similar. The differential in domestic per capita savings absorbed by the financial systems was, however, much greater, respectively of the order of 30 and 100%. This strongly suggests that besides the effect on financial development of levels of income and savings, other factors, mainly of an exogenous nature, must have played an important part too by causing economic agents to channel different shares of their spare resources to the financial systems of their respective countries. Three features of any financial system are bound to affect the inclination of savers to enter into lasting relationships with its institutions and markets and, in particular, to entrust them with funds. One is accessibility to users, another is suitability to their specific needs, a third is trust. In what follows we shall concentrate exclusively on the corporate financial sector because, in contrast, differences among countries in the development of their respective stock markets appear relatively minor. In the Scandinavian countries, the volume of private securities was considerably greater than that of state bonds, whereas in Spain, Portugal and Italy the opposite prevailed. Yet when we put all of these financial instruments together, the aggregate volume per capita is relatively uniform throughout the sample. Moreover, the information regarding national stock markets suggests that inter-country regulatory divergences were not substantial at this time and where they existed, this would not have made much difference to global outcomes (Fohlin, 2002). [16] Recent research on the post 1960 period has argued that cross country differences in legal and accounting systems help account for differences in financial development (Levine et al, 2000: 31) and similar claims have been made in a far broader historical perspective (Sandberg, 1978; Sylla, Tilly and Tortella, 1999). An overview of the legislation governing corporate financial activity does not suggest, however, that this was a major cause of the divergence we have been examining here. This is not to say that there was absolute regulatory uniformity within the sample or that the legal framework had no impact on other aspects of the financial history of these countries. Rather, there could and was an influence but the effect was not necessarily important in the present context. The Norwegian-Swedish comparison illustrates this. Regulation restricted the lending policies of savings banks in the latter country while it was quite liberal in the former. As a result, the Norwegian savings sector flourished and even took on the functions of commercial banks. In Sweden, on the other hand, it did only half as well and was overshadowed by the commercial sector, which in Norway was comparatively weak (Egge, 1983; Nordvik, 1993). Globally, however, the two countries achieved very similar results in terms of the assets gathered by the financial corporate sector as a whole, only through different structures. There are three ways in which the time-path of regulation could have influenced the evolution of commercial banking, yet in all of them a surprising degree of international uniformity is encountered. Barriers to entry is one of them. After a highly restrictive first half of the nineteenth century, which was dominated by specially chartered national privileged banks of issue created to deal with pressing monetary and fiscal problems, in the 1850s and 1860s it became relatively easy to found joint stock commercial banks with limited liability. This new ease of incorporation opened the system to competition, vastly increased the number of institutions and allowed them the freedom to open branches, which in some countries proliferated and in others not. The second area is that of the limits placed on the scope and type of business banks might undertake. Typically, rules defining lending policies were few and on the whole were quite liberal. In some cases, banks were simply governed by the general law on joint stock companies, while in others they were placed under a specific banking code (Grossman, 2001). Towards the end of the 19th century, however, and as a consequence of various crises, regulation was tightened in some countries, but it is unclear whether this entailed much change. The evidence is that the enforcement of bank legislation was on the whole lenient, in the spirit of Liberalism, and the institutions dealt with were often allowed to evade it when this was found expedient (Fritz, 1988). The ease with which Norwegian banks overcame the strictures of usury laws is an eloquent illustration of this (Knutsen, 2003). 17] Finally, a fully centralised note issuing regime does not appear to have produced results that were inferior, in terms of financial development, to those where multiple issue was in place. Despite the contemporary belief that commercial banks that had a right of issue enjoyed a business advantage over deposit banks, one finds instances of both regimes both in Scandinavia and southern Europe with no obvious impact on global financial performance. [18] Mortgage banking based on the issue of bonds, which was for profit in some countries, but not in others, displayed the most significant degree of regulatory variety. In Spain and Portugal, national monopolies were established from the start, while Italy experimented with regional ones and went over to a national one in 1890. They therefore tended all towards large loans and large denomination bonds. In Scandinavia, Sweden and Denmark were very liberal on this score, but Norway had a state mortgage bank. Table 5 reveals that in the long run, however, this mattered less to the respective shares of this sector than might be expected. In Denmark, mortgage bonds were very important but Sweden was on the level of the monopolistic countries, while Spain, with a similar set of rules, did frankly worse than all others, including Portugal,. When it comes to non-commercial, small scale, local and often cooperative banking, it is essential to remember first that this was a era in which two quite different types of saver supplied the resources of financial institutions and arguably constituted quite separate segments of the market (Verdier, 1996)[19]. The well-to-do deposited with or bought the shares of commercial banks, while middle and low income people prefered to entrust their savings to local savings banks, credit co-operatives and the like (Vittas, 1997). This being so, in societies where both kinds of institution had a significant presence, as happened in Scandinavia, the financial system was likely to collect a larger portion of savings. In Spain and Portugal, the weakness of the savings sector was such that it meant that a majority of the population in effect had little access to the system as a whole. Consequently, the volume of savings per capita gathered was smaller. Italy was able to do better than the Iberian peninsula because of a considerable and varied movement of thrift organisations prevalently in the northern half of the country that tapped, the savings of the humble and middle class people, whether rural or urban. It is far from evident, however, that national dissimilarities in legislative framework were responsible for this kind of institution to evolve to such contrasting extents. In all countries considered, thrift institutions were supported by local or national authorities in a variety of ways, with deposit guarantees and, perhaps most important of all, with tax exemptions. Arguably though, on the assumption that there was market segmentation, this would hardly have diverted funds from the commercial joint stock sector, which was the principal alternative. Until the 1880s, the general norm was absence of legislation, complete ease of entry, an enormous multiplicity of statutory arrangements and only slight restriction on the uses to which savings could be applied. Full and proper regulation had to await the 1880s 1875 in Sweden but, in the event, was of a very mild nature. [20] Supervision, accounting rules and some operating limits were introduced, against the solid resistance of the thrift institutions themselves, but by most accounts this barely influenced the sector’s level of activity (Bruck et al. , 1995; Hansen, 2001). One of the principal aims of regulation was to stimulate trust in the system by deterring irregularities and imposing transparency on its operations. As we have just seen, Scandinavias superiority in mobilising resources does not seem to have owed much to a better set of rules and regulations. From the publics point of view, a more reassuring indicator of trustworthiness was how a system performed, not its rules, and here stability of markets and institutions was doubtless the factor that would affect the inflow of savings. Whilst all countries were prone to turbulence and its savers and investors suffered losses as a result, between 1860 and the First World War, the southern European record seems to have been by far theworst. One instructive sign of this is the mortality of commercial banks. Complete data are only available for Spain, Italy and Denmark but are highly revealing. In Spain, aside from the earlier devastation wrought by the crisis of 1864-6, of the 117 banks founded after 1874, only 60 were still open in 1914 (Tortella, 1974). The losses to Italian commercial banking during three critical periods were similarly substantial: 42 out of the 143 in existence, in 1873-9; 21 out of the 161, in 1888-93; and 11 out of the 163, in 1902-4 (Mattia, 1967). In Denmark, of the 160 banks created between 1845 and 1914, only 20 failed. A second measure is the variance around the trend of a global systemic indicator such as total assets. Available information covers only the same three countries but the result, now comprehending all types of banks, fully confirms the earlier finding. [21] The stability of the Danish financial system was significantly greater than that of the Italian one, with the Spanish one a long way behind. If a stable financial environment meant anything to savers, then Scandinavia appears to have enjoyed a considerable from this point of view. Several factors can explain this contrast but two especially should command our attention. One is structure, the other is policy. As regards the first, Scandinavian economies enjoyed the benefit which, in southern Europe, Italy had over Portugal and Spain – of a relatively larger not-for-profit financial sector, which was less crisis prone than commercial banks. 22] This was due to several characteristics inherent in such institutions. They had better and cheaper information on the risks posed by clients, lower costs of administration and greater ease in enforcing repayments. Moreover they were less likely to suffer runs by depositors, who knew them well. In addition, they often enjoyed some form of group deposit-insurance, and normally enjoyed deposit guarantees from governments, local authorities or simply groups of local notables. Lastly, because unlike commercial banks they were not under pressure from shareholders to produce high dividends, they did not have to lend to projects with higher returns but also higher risks. Their image of conservatism more often than not was matched by reality even though they had to contend with the instability that is usually associated with a small scale. [23] Given how frequent and severe national bouts of financial instability could be, one has to ask whether domestic counter cyclical policies might not have influenced the attractiveness of these financial systems. As regards government intervention, the low priority given at the time to such policies rules out a significant role for this factor. On the other hand, national banks of issue were just beginning to play the part, informally, of money market regulators, something that would only be enshrined in their charters after the First World War. The timing of their assumption of lender of last resort status matches poorly the way in which these economies responded to financial shocks. In Denmark and Sweden, two highly stable systems, came to this early, between the 1860s and the 1870s, but so did in Portugal and Italy the Banca Nazionale, the Bank of Italy’s predecessor was already behaving as a bankers’ bank in the 1860s (Hansen, 1991; Lindgren and Sjogren, 2002; Reis, 1999; Polsi, 1996). On the other hand, Norway and Spain were both latecomers to this field, respectively in the late 1890s and just before the War and yet were at opposite ends of the league table for financial stability (Egge, 1983; Tortella, 1974). 24] While proto-central banking may not have been a major determinant of the closeness between savers and financial institutions, accessibility clearly was. The ease with which economic agents could approach the system mattered a great deal in establishing a relationship with it. One dimension was physical location, distance, ease of travel – and this was an important reason for the success of the Danish ‘parish savings ban ks’ (Guinnane and Henriksen, 1998). Another was the suitability for those involved of the institutions available to them. Savers would more readily supply an institution with funds if, other things being equal, they felt welcome, understood the procedures, knew the people they had to deal with and could easily satisfy burocratic requirements, e. g. minimum size of deposit. In other words, not all institutions and markets served equally well for everyone and this must have had an impact on the propensity to accept the liabilities offered by the system. As Table 8 shows, a considerable disparity existed during these years in the supply of outlets that each system offered. This is one more spect of the enormous distance that separated our two groups of countries, in this case the number of inhabitants per financial outlet, and also brings to light a ranking that matches exactly the ranking presented in table 1. In particular, Italy, which had a density five to eight times that of Portugal and Spain but was five times below the levels of Denmark, Norway or Sweden, had the financial system that managed to at tract the greatest volume of savings of southern Europe. Besides the number, the spatial distribution of these outlets also seems relevant. In Spain and Portugal, financial institutions were an urban phenomenon and were concentrated in the major centres. In Scandinavia, the opposite was the case. A large proportion of financial outlets was in small towns and hamlets. They were therefore close to country people, who were the majority of the country’s population. Thrift institutions were ‘local organizations, formed and run by local people to further what they saw as local goals’ (Guinnane and Henriksen, 1998: 52). . [table 8 about here] Altogether then, perhaps the most important factor in explaining differences in financial development lay in each society’s propensity to accept non-commercial banking in its midst. Scandinavia’s greater overall capacity to mobilise funds mainly derived from the strength of its thrift sector in all its forms, and this arose because so many people there were prepared to join these movements. Since this cannot be ascribed to major income dissimilarities, nor to diversity in regulation, nor even to the rise of central banking, only two explanations seem to remain available. Verdier’s (1996) standpoint is that it was political struggles that lay at the heart of the matter. In Denmark, Sweden and Norway, centrifugal political forces were important and prevented the state’s wish to centralize banking, thereby absorbing the resources of the periphery in order to finance central public expenditure. As a result decentralized thrift banking flourished. In the south of Europe, the opposite happened and consequently non-profit banking was suffocated by the pressure from a centralizing state intent on draining the financial resources of the periphery. There are two objections to this. The first is that what the state wanted these resources for was to finance the public debt, not central public expenditure, and here the contrast between the two regions could not have been greater. As we saw earlier, southern European countries were indeed voracious consumers in this respect. Secondly, we must also not ignore that in these countries finance for the public debt typically does not seem to have come from their peripheries, nor from provincial banks. Rather, it tended to be held personally and was accumulated at the centre, where saving propensities were apparently higher. This would explain why provincial commercial banking was able to expand in Portugal, Spain and Italy during this period, in spite of their huge public debt commitments (Reis, 2003). Perhaps a more fruitful enquiry should ask why, in the latter countries, except for a small group of wealthy and educated citizens, most of the provincial population appeared remote from institutional saving. For this we have to try and understand the roots of the stronger impulses in Denmark, Norway and Sweden to create small thrift organisations in terms of the stronger presence of certain social and cultural conditions in these countries (Guinnane, 1994; Galassi, 2000). A basic ingredient was trust, a form of social capital that involved a readiness to accept peer control and to enter into common ventures with other economic agents beyond one’s immediate social circle, which required that direct monitoring and control was left to others. Societies, like in Scandinavia, founded on a prosperous middle sized peasantry, that experienced successful agrarian reform at the end of the Ancien Regime, and where a more even distribution of income was present, seem to have provided an environment in which such attitudes could flourish. In contrast, apparently this was not the situation in Portugal and Spain, or Italy s south. In Italy, where in some regions only limited liability credit cooperatives (banche popolare) were common, by the 1880s clearly those in the south had much greater difficulty in attracting members’ and their deposits. As a result, they relied much more on share capital and rediscounts at large banks, and tended therefore to have to hide defaults in their accounts. This in turn exacerbated the problem of trust between members and management, the latter usually from a higher social stratum, and fostered a low-trust equilibrium (Ahearn, 2000). A second element in this approach emerges from the analysis of the early development of modern financial intermediaries, which appeared in Scandinavia already in the first half of the nineteenth century and which very much depended on the degree of human capital endowment present. Nilsson, Pettersen and Svensson (1999) have shown how literacy in the Swedish countryside before 1850 was associated with the rise in the use of sophisticated credit instruments and probably created a fertile seed-bed for the activity of localised credit institutions. Again, southern Europe was woefully behind in this field, with rates of illiteracy that were still 50 per cent or more in 1900 compared to negligible figures in their northern counterparts. A greater readiness on the part of Danes, Norwegians and Swedes to accept contract money, particularly in small denominations, may be another expression of this cultural dimension. 25] Finally, one should not neglect the influence of the strength of local sentiment in this matter. Its importance has been remarked upon a propos of Denmark (Hansen, 1982), as it has in the case of Italy, the only southern economy where local thrift organizations developed to a significant degree (Polsi, 1996). 5. Why Scandinavian systems recycled liabil ities better In comparing national differences in financial intermediation, the second major question of this paper has to do with the efficiency with which the funds gathered by each system were transformed into credits to the private sector. From this point of view, three circumstances help us understand the efficiency loss of about one half the measures the distance in this respect between the two groups of countries. Possibly the most important one was the more or less chronic difficulty associated with public finance in southern Europe, in contrast to its generally healthy condition in Scandinavia. For the former, this meant a crushing weight of Public Debt holdings and a scant application of these resources to growth inducing purposes. For the second group, not only was this burden far lighter but the resources thus absorbed were also used more effectively for investment. A further implication, of a more structural nature, was that the problem of an oversized public debt stimulated the emergence in Italy, Spain and Portugal of oversized national banks of issue, which dominated their respective commercial banking sectors, as we saw in section 3, and were the least efficient of all corporate institutions at recycling funds into credits. Why Italy, Spain and Portugal should have been consistently unable to break the grip of budget deficits and of a pyramiding Public Debt is an issue which plunges its roots deeply into the 19th century political, social and military histories of these countries. Unfortunately, it is impossible to do justice here to such a complex problem. One should note, however, that unstable political institutions, a weak public administration and an excessively powerful military were present in the region throughout the period, unlike what happened in the Scandinavian periphery. As a result, southern European governments found it hard to discipline expenditure, whilst the revenue-to-GDP elasticity tended to be very low as a result of the public administration’s incapacity to increase revenue sufficiently and diversify its sources. A strong military tended to embroil the country in occasional internal or external costly conflicts that had to be paid for mostly by means of fiscal and monetary unorthodoxy, and was an ever present factor of political instability. Public borrowing in itself was not the difficulty, since the Scandinavians engaged in it without harm. What was dammaging about it to the southern Europeans was its scale, which dwarfed other efforts at mobilising resources, and its use largely to pay off earlier borrowing and maintain a costly ineffective machinery of government. Negative structural effects on southern Europe were not confined to the politically motivated â€Å"excessive† development of their national banks of issue. The socio-cultural reasons that explained the greater prevalence in Scandinavian financial systems of thrift institutions can also be invoked here in explaining their higher global transformation ratios encountered in table 6 above. Less clear, on the other hand, is whether these factors also help explain the fact that, in every type of institution, this region unmistakably led southern Europe in terms of capacity to recycle its liabilities into credit. Two features of the financial environment appear more helpful in this respect. The first is the difference in the degree of risk that financial institutions had to face. This made it possible for the Scnadinavian ones to immobilise smaller proportions of total assets as reserves, or to avoid tying up resources in safe state bonds. The goals and the quality of management is the second circumstnace to account for differences in the proportion of idle assets in the portfolios of corporate financial institutions. Possibly, southern European managers were simply reacting reasonably to a riskier investment climate by allocating funds with greater prudence and conservatism than Scandinavian ones needed to. On the other hand, it has been hypothesized (Berthelemy and Varoudakis, 1996: 301) that ‘the technical efficiency of the financial sector is an increasing function of the collected volume of savings [and] that learning-by-doing effects also exist in intermediation activities’. Poor management has been claimed for both Portugal and Spain (Reis, n. d. ; Sudria, 1994) though comparisons with Scandinavia have yet to be carried out and the case therefore remains open. As regards Portugal in particular, it has been shown, following Hinderlitter and Rockoff (19.. ), that, after taking risk differences into account, the share of unused funds in the balance sheet of commercial banks was greater than could be justified by reference to practices in contemporary major financial centres. Finally, the high returns on government issued liabilities in southern European caused resources to be diverted away from private credit operations in contrast to Scandinavia where the yield of such holdings was comparatively less attractive and better alternative investment opportunities seem to have been more numerous. 6. Conclusion During the course of the long second half of the 19th century, the southern and the northern peripheries of Europe followed contrasting paths of financial development. This led to quite disparate results in the supply of credit to the non-state non-bank part of their economies and justifies perhaps speaking of a â€Å"Scandinavian†, as opposed to a â€Å"southern European† type of financial system. Having quantified these differences, this paper argues that the gap is large enough to justify the view that finance contributed to the divergence in economic growth between the two regions. To address the reasons for the substantial efficiency differential between southern European and Scandinavian financial systems, it was necessary to break this down into the two basic functions that financial systems carry out. One concerned the mobilization of savings as financial liabilities of these systems. The second revolved around the conversion of these liabilities into credits to the non-financial private sector. Southern European countries were losers in both instances. The analysis of the first of these brought to light that Scandinavian institutions were capable of mobilizing comparatively more resources than their southern counterparts, the exception being in state bonds, where the latter led by a clear margin. The second dimension of this study revealed that Scandinavian institutions were also capable, type by type but equally in toto, of extracting a larger quantity of credit from their laibilities in order to make them available to the productive sectors of the economy. To some extent these contrasts were caused by endogenous conditions. The simple fact is that Italy, Portugal and Spain were consistently poorer and were becoming increasingly so. This affected their volume of savings but also probably lessened the demand for the financial outlets that enabled savers to recycle these funds as institutional financial liabilities. On the other hand, exogenous factors probably also played an important part in helping to understand fully the process of financial development in these two regions. Essentially, three aspects are involved here. Regulatory conditions have loomed large in many analyses of this type but do not appear to have had a significant impact on the global outcomes picked up here, although they probably shaped some of the structural differences observed. A much stronger case can be made instead for the part of political, social and cultural factors in driving a wedge between the financial development paths that we have observed above. The last two were instrumental in leading to a greater development in Scandinavia of the non-commercial bank sector. This was responsible for diversifying the supply of financial outlets, attracting an much greater volume of savings per capita and then ensuring that a larger proportion of such funds became available for investment purposes. In all their complexity, political factors probably mattered most of all because they translated savings into a huge mass of state issued liabilities that stifled the expansion of the other parts of the system in the southern countries. At the same time, having helped to mobilize these funds, politics then became responsible for their sterilisation as financial instruments. When all is taken into account, it is this which perhaps explains the best part of the great financial divide between our two sets of countries. Of politics it can always be said that it might have been otherwise and this may seem a trivial conclusion. To claim this, however, would be to ignore the fact politics and institutions have long histories too and that path dependency is not solely the preserve of economic phenomena. References A’Hearn, B. (2000). Could southern Italians cooperate? Banche Popolari in the Mezzogiorno. Journal of Economic History 60, pp. 67-93. Aleotti, A. (1990). Borsa e Industria. 1869-1989: Cento Anni di Rapporti Difficili. : Edizioni di Comunita. Beck, T. , Levine, R. and Loayza, N. (2000). Finance and the sources of growth. Journal of Financial Economics 58, pp. 261-300. Berthelemy, J. C. and Varoudakis, A. (1996). Economic growth, convergence clubs and the role of financial development. Oxford Economic Papers 48, pp. 300-28. Broder, A. (1976). Les investissements etrangers en Espagne au XIXe siecle: methodologie et quantification. Revue d’Histoire Economique et Sociale 54, pp. 29-63. Bruck, C. (ed. ). (1995). Les Caisses dEpargne en Europe. Paris: Editions de l’Epargne, 2 vols. Calomiris, C. (1995). The Costs of Rejecting Universal Banking: American Finance in the German Mirror, 1870-1914 in N. Lamoureaux and D. M. Graff (eds), The Coordination of Activity within and between Firms (Chicago: University of Chicago Press). Cameron, R. (1967). Banking in the Early Stages of Industrialization. New York: Oxford University Press. Cameron, R. (ed. ). (1992). Fina

Third Party Rights Over Property Case Study Example | Topics and Well Written Essays - 1250 words

Third Party Rights Over Property - Case Study Example In the first instance Helen does not own the building outright as Kevin invested money into buying the shop and flats; Helen has taken out a mortgage on the building so Southern Counties Building Society would have a vested interest (the property was put up as collateral for the loan) and the second flat has been tenanted with Tom having a five year lease by deed of that flat. The amount of vested interest in the property owned by Kevin will depend on whether or not he and Helen had formed a partnership prior to buying the property, how long him and Helen had been living together in the first floor flat and what rights either of these situations (business partnership or de-facto relationship) might have on the ownership of the building. Because Helen raised the loan to buy the property it could be assumed that she might have a majority stake holding in the building and therefore could sell the business without involving Kevin. However, if Helen raised the mortgage so that her contribution to the building then equaled Kevin's then she has no right to sell the building without consulting Kevin first and the sale would be a joint decision. Kevin has another stake hold... Also any lease agreement he may have would have to be honored by the new buyer. The actual amount of impact Kevin would have on the sale of the building would depend on any agreement made between him and Helen, whether Kevin has any rights under de-facto law (which would be virtually nil in Britain as de-facto couples do not share the same rights as married couples) and whether or not Kevin is listed on the land title as co-owner. Helen would also have to pay off the mortgage owing amount on the building at the time of sale because the building is the collateral for the money loaned. Another problem that the new buyer would have to face is the lien on the property that prevented Helen from setting up a business that would act in competition to other businesses in the area. Any prospective buyer would have to be informed that the shop portion of the building could only be used as a newsagent shop. However, that covenant might not necessarily apply if the agreement was made personally between Helen and the person she purchased the shop from, as this covenant would only apply if it had been entered on the land title. If the land title had remained unregistered throughout the previous transactions then the situation for Kevin and Helen changes slightly. If Kevin does not have a legal partnership agreement with Helen then he would have difficulty proving his claim to any ownership of the building. He may be entitled to some duress under de-facto land ownership legislation, but that would be difficult to prove if he did not have something in writing that could prove the extent of his relationship with Helen (such as a Cohabitation Agreement) and the amount

Price Differences Associated with Quality Essay

Price Differences Associated with Quality - Essay Example This paper will critically analyze the price differences associated with quality by giving a specific focus on imperfect competition and price differences. Effects of grade quality on demand According to an observation, â€Å"grade quality is the distinguishing feature or grade of the product in appearance, performance, life, reliability, taste, odor, and maintainability etc; these are generally called as quality characteristics† (Charantimath, 1). The grade quality or quality characteristics can have a great influence on the demand of a product because quality and price are the major determinants of a product’s market demand. Economic theories state that a change in quality can make a shift in the demand curve. When two identical products with different quality levels are available in the market at the same price, consumers would buy the product having superior quality. To illustrate, demand for Giordano’s pizza is greater than that of Papa John’s at a gi ven price. It happens because consumers believe that Giordano’s pizza has higher quality and therefore it would better satisfy their needs than Papa John’s pizza would do. ... It is observed that modern people are able to determine their needs precisely; hence, they can accurately identify product quality characteristics that are necessary to serve those needs. It is obvious that improved quality characteristics may better serve an individual’s needs. In other words, a consumer would get greater level of utility from a product with higher grade quality. Generally, a consumer always tries to acquire increased utility with minimum amount of money. In short, it can be stated that a product with higher grade quality will have increased market demand or demand is positively affected by grade quality. Referring to the law of demand, it is clear that the price of a product is directly proportional to its market demand. As discussed earlier, a product with higher grade quality will have a high level of market demand which in turn leads to an increase in its price. Maintenance of quality-price relationship is necessary for stabilizing an economy. To illustra te, majority of the agricultural products have predetermined grade quality standards and hence their price considerably varies in accordance with grade quality changes. Agricultural yields with a lower quality are paid minimum prices while marketers are ready to pay higher for high quality agricultural yields (â€Å"Grain marketing plans for farmers†). However, the law of diminishing marginal utility is also applicable to quality-price relationship. The law states that utility derived from the consumption of a product diminishes with each unit of the same product additionally consumed. Hence, a product’s price will not be increased beyond a certain level if a person continuously consumes a

Marketing Profile Analysis On Pandora Internet Radio Media Essay

Marketing Profile Analysis On Pandora Internet Radio Media Essay For our Group project we will be doing a marketing profile analysis on Pandora Internet Radio. First, we will explain what the company does. Next, an in depth analysis including the site navigation, the Pandora business model, brand interactivity, the brand look, brand personality, their competitors, Pandoras metrics, what kind of consumers use Pandora, how consumers behave, and where Pandora could use room for improvement will follow. In the business model we will look at how Pandora makes their revenue through the different services they offer. Site navigation will describe where each click will take you and how to get from page to page. Brand interactivity explains how not only user can interact with Pandora, but how Pandora can interact with its users. Further, we will see how the brand looks across different formats from computer screens to mobile phones in brand look. Next, in brand personality, we will discuss what kind personalities are embedded in the brand. Also, while looking at competitors we will see how Pandora fares against their top competitors and what they do differently. Pandoras metrics will include the sites traffic, how long a consumer stays connected to a site, and its reach. Finally, when we look at consumers, we will look at how the Net gen is the majority of Pandora users, and how consumers move through the behavior model of acquisition, consumption, and disposition. What is Pandora? Pandora is a Internet radio service created by the Music Genome Project. They started up in 2000 and according to their website its the most comprehensive analysis of music ever undertaken. Users can enter a song or artist and Pandora will play music that you entered, but also music that is stylistically and auditorily similar. They have more than 50 music analyist that study and listen to the music one song at a time, collecting details on every song based on close to 400 attributes that include melody, harmony, instrumentation, rhythm, vocals, and lyrics. According to their website, the typical analyst working on the Music Genome Project has a four-year degree in music theory, composition or performance, has passed through a selective screening process, and has completed intensive training in the Music Genomes rigorous and precise methodology. Pandora never uses any bots or machines to extract data from any of the songs. The songs are always being updated and new songs are continually added to their ever expanding catalogue of titles. Site navigation Pandoras website is very easy to access. The address is http://www.pandora.com/. When the page loads, there are 3 places you can click at the top half of the page. You can register a new account, log-in with a preexisting account, or type in an artist, or song, and immediately begin listening to music. Clicking on the register hyperlink takes you to the registration page and is completely free. The only information needed is an email address, a password, the persons birth year, their US zip code, and their gender. There is a opt-out check box for personalized recommendations and tips. Once everything is complete you can click register for free of cancel. Registering for a Pandora account allows you to save you stations and access them from anywhere. If sign -in is chosen, all that is need is an email address and password. This takes you to all of your saved stations and also allows you to type in a new station or artist. Typing in an artist or song starts playing the music. The bottom half of the page is newer. There is a space where you can click to see the information about the music you are playing, view a mini feed of your profile, select music by genre, learn about how to get Pandora radio on your mobile phone and in your home, and see whats happening in the Pandora video series. Below this feed, you can view concert listings, gift a station where you can make a station and give it to another Pandora user, look at bookmarked songs, and again, go to the video series page. Business model The business model for Pandora is mostly ad driven. Consumers can register for free and begin listening to music immediately. Users are never required to pay anything because it is payed for by the advertisements. However, they have two more aspects to the business model. Once free Pandora accounts reach the 40 hour mark of listening per month, the music stops and you are required to pay 99 cents for unlimited listening for the rest of the month. You can also just come back the next month for another 40 free hours. Each month has the same choice on the limit and they never bill you after the fact of charge you. The final part of the business model is a paid Pandora One subscription account. This offers unlimited listening hours each month, plus no advertisements. It comes with a high stream quality, desktop application, extended interaction timeout, and a mini player. This can be purchased for a subscription for 36 dollars per year. Pandora also has a box through HP that you can purchase to stream music anywhere in your home. It has built in speakers and Wi-Fi connectivity. Aside from music, you can now view the Pandora vise series and look up concerts coming to areas near your town. Pandora is branching out to video and live music avenues. They also work with mobile companies through advertising and putting mobile applications on phones so you can listen to Pandora anywhere instead of just a computer or home device. Pandora allows for users to expand their musical knowledge based on their own personal preferences without requiring the user to purchase songs on a whim. The seemingly archaic days of buy before you try have ended partly because of services like Pandora. Pandora gives users the option to purchase each song multiple ways in a variety of digital formats. One of these methods is to buy a song via iTunes. While the iTunes service itself allows for the sampling of a given song, it does not give users the ability to stream the entire song prior to purchase.    Brand Interactivity Pandora is becoming more that just an internet radio player. Consumers can create a profile much like social networking sites and add friends to communicate with. Users can leave comments on other users profiles, share radio stations, and even find other Pandora listeners. With Pandora mobile applications, users can access this information where ever they are and listen to music straight from their mobile phones. Not only can you search to find song, or artist, you can also take a look at the Pandora video series, which is a video blog that contains videos about music, how the music is made, and where to hear it. Pandora also has a written blog where users can interact and comment on posts. The final point of interactivity is users can see a schedule of local live shows in their area. The list is based on your bookmarks list, thumb up and you station seeds, so the concerts that they show you are going to be based off of what your profile says you listen to and what you like. For each event, you can click on the ticket info button which takes you to the event website, to view the event and get tickets. This can also all be accessed from the mobile phone application. Brand look across formats Pandoras brand look is, for the most part, uniform across its various mediums. The page is identical no matter what browser you chose to view it on. This is extremely important for a service like Pandora. This is because a user might choose to view this content on a computer loaded with a browser that is different from the browser that they usually use Pandora on. An example of this would be a user who usually uses their windows-based computer loaded with Internet Explorer to access Pandora being forced for some reason to use a mac-based computer loaded with Safari. Because of Pandoras uniformity across platforms, this user will be able to use their Pandora on the mac-based computer without the initial learning curve often associated with using new web based services. Pandora is also able to be accessed on various broadband enabled mobile devices. Pandora has taken steps to make their service as uniform and consistent as possible across the mobile devices that might be used to access Pandora. For instance, Pandora accessed on a users Apple iPhone 3G looks almost identical to Pandora accessed on another users Motorola MOTORAZR V3. Furthermore, the page layout on both devices mirrors that of Pandora accessed on the users personal computers. This is another step Pandora has taken in order to reduce any additional learning curve that might be associated with accessing Pandora service on a users mobile device. Brand Personality Pandoras brand personality includes both a mechanical passion for music as well as a passion for connecting users with music that they otherwise might not have had or wanted access to. This mechanical passion for music is made evident by Pandoras Music Genome Project. Because of this mechanical passion, Pandoras brand gives off a scientific vibe. Pandora is also very diverse because no one persons musical taste is exactly like the next person. Musical taste is something that is very unique and Pandora is trying to cater to each persons uniqueness. They know each person is different, which what makes them different from other internet radio stations. Pandora is kind of like the guy that no one really cared about, but then everyone wants to know him because they realized how cool he really is. Major Competitors While Pandora brings many new and unique features to free internet radio, it is hardly the only game in town. Last.fm, Imeem, and Grooveshark are just a few internet radio alternatives to Pandora. Each of these services offers their own take on Internet radio. Lately, Last.fm has taken the position of Pandoras primary competitor. Like Pandora, Last.fm offers users the ability to stream custom playlists based on a users personal preference. While both services share this feature, they have unique and independent ways of doing so. Last.fm employs a technique called Scrobbling to determine which songs rise or fall in popularity. This is accomplished by the user downloading software on their personal computers and ranking their streaming music. With millions of users doing this on a daily basis, this is a great way to crowdsource popularity. Pandora on the other hand is based on The Music Genome Project. This is essentially a database of artist-defined analysis of each song. This analysis is primarily based on the songs musical attributes as well as unique qualities associated with the each song. So one on hand, you have millions of laymen ratings helping to improve the listeners streaming experience, and on the other hand you have a selected group of well trained ears pouring over individual songs to produce unique playlists for the user. Which is better is left up to the individual user. Recently, one of Pandoras competitors, Imeem, has stolen a substantial amount of traffic away from Pandora. Imeem is part social networking site, part internet media service. With Imeem, users interact with each other by streaming, uploading, and sharing music and videos. Imeem also allows users to build and share custom playlists with others directly on Imeems website or via an imbedded Imeem player through external sites such as Facebook and Myspace. Other online music services such as Grooveshark compete with Pandora. Grooveshark allows users to upload, stream, and vote on content similar to Imeem. Grooveshark also incorporates a Pandora-like system for recommending content based on the users personal song choices. With all these great features, why is Groovesharks traffic almost stagnant next to Pandoras mammoth annual growth of close to three million users? Grooveshark users have provided criticism that Grooveshark does not indemnify its users against any unlicensed uploaded content. Essentially, this means that Grooveshark is not responsible for the content that they host. Pandora Site Metrics According to Alexa.com, a website that specializes in web traffic metrics, Pandora is ranked 82nd for United States website traffic. This sandwiches Pandora between Newegg.com, arguably the internets largest electronic retailer, and the United States Postal Service for internet traffic. There are many metrics with which to compare a websites e-traffic and ultimately said websites/services success. The first of these metrics and arguably the most important is a websites daily traffic rank trend. This metric compares Pandoras daily traffic against other websites accessed. According to this metric, daily Pandora traffic has fluctuated over the past year. Currently, Pandora is ranked 371. Another metric with which to compare Pandora to its competitors is the time the average user stays connected to the given website. Currently, the average Pandora user stays connected eleven minutes. In relation to Pandoras previously discussed competitors, Pandora has the longest user retention rate. This compares to Last.fm and Imeems five minute and Groovesharks seven minute user retention rate. The last metric used is Reach. Reach refers to the percentage of global internet users who visit Pandora. According to Alexa, 97.7% of Pandoras users access Pandora from within the United States. This metric shows that Pandora has a strong national user base but should look into expanding their international user base. This is not necessarily the case for Pandoras competitors. Imeem, for example, has an extremely strong user base in Thailand, having a national user base of only 42.8% United States users. Last.fm has a United States user base of 35.2% with the remaining 65% consisting of international users. Ultimately, Pandora will need to begin increasing their international traffic if they plan on sustaining their growth. Customer Profile The types of people we see using Pandora, more frequently, and more often are the Net Generation. They were typically born from 1980-2000 and are anywhere from 10-30 years old. The reason that the Netgeners use Pandora more is because Pandora is a digital product and the Netgeners are growing up in a digital world. They are different from other generation in that their lives are surrounded by digital media. (Tapscott) 73% of youths between the ages of 12 and 17 use the Internet. For most teenagers it is a way of life. So, it is only natural that we see this age demographic using Pandora services. The characteristics of these consumers are as follows according to Tapscott. They have fierce independence because they create online identities and acquire knowledge to make their own decisions. They have and Intellectual and emotional openness and view the world in a global context. They have very free expression and have strong views. They are also very innovative and have a strong desire to be more mature than their predecessors. They investigate things out of curiosity, demands real time and fast processing, are very sensitive to corporate interest, and are very trusting online. Consumer Behavior Acquisition How the consumer gets content from Pandora is that they find it. This is accomplished by typing in an artist name, or song name, and Pandora streams then the content. They also get to choose more or less what they listen too. Also creating a profile helps in the acquisition process. They also get to create stations so that they can the content that suits them best. Consumption The customer consumes content by listening to the music, reading the blogs, or watching Pandoras video series. They can also consume content by getting gift stations from other users and communicating with them through a simple messaging service. Disposition In the disposition process, consumers can bookmark and save songs to remember them later and even use the information so that they can personally own the song. The content never really goes away though. They can listen, watch, or read the duration of the content, but its always there for the consumer to go back and listen, watch, or read it again. Ideas for Growth   Ã‚              The first idea for growth, which I think will also target a larger market, is somehow incorporating their service into automobiles a little better.   Currently, Pandora can only be heard through computers and cell phone with broadband data plans. If Pandora can create a way for people to get internet radio in cars with services, they could reach a larger audience for people that either dont listen to music on their computers or dont have expensive smart phones. A way of implementing Pandora into an already well respected device would be to implement Pandora functionality into satellite radios. It would also be a safer alternative to have something compatible with a car that being distracted by a mobile device.   Ã‚           Next, Pandora needs to begin expanding into the international market. Currently, Pandora has blocked access to users outside of the United States. This clearly explains why Pandoras user base is comprised of 97.7% United States users. Pandora founder Tim Westergren spoke directly on the topic saying: As it stands now, there is still no affordable license for a webcaster to stream legally (ie. abiding by all standing copyright law and properly compensating performers and composers) anywhere outside the US. However, Pandora has publicly stated their commitment to finding a way to provide Pandora service to international users, leaving new potential users with only keep the faithà ¢Ã¢â€š ¬Ã‚ ¦ Finally, Pandora should look to advertise their paid services more. Even if they dont in publications or Ads, they need to at least start pushing it on their website more. The guess would be that they dont want to seem like they are moving to a paid service, but if they want to stay in this business, more money is what it is going to take and they need to start pushing people to subscribe, or buy products from them. Channel Mix Plan The Channel mix plan for Pandora is Internet. It is the one channel that can reach the maximum number of clients for their business model. They also use a phone application as a channel through mobile Internet service providers. The messaging with customer through both channels is all opt-in only. You will only receive emails if you check a box and any information is only sent or retrievable of you want, or ask for it. Conclusion In conclusion, we have discussed Pandoras business model in detail. It seems that once Pandora can monetize their service appropriately, they will be an extremely, financially, successful digital media venture. Furthermore, Pandora has a great deal of legitimate future growth considering they have yet to expand their service outside of the United States. Ultimately, Pandora has an extremely bright future in the internet radio market.