Monday, August 24, 2020

The Global Assembly Line free essay sample

An examination of the film Global Assembly Line by Lorraine Gray. This film investigates the impacts of globalization on the lives of both U.S. laborers and the recently framed workforces in underdeveloped nations, for example, Mexico and the Philippines. It is contrasted with different motion pictures which manage uncalled for work conditions William Adlers Mollies Job and The Work of Nations. The film represents the issues looked through accounts of the demolition of a neighborhood network by a Barbie Doll manufacturing plant in the Philippines; mystery gatherings of Filipino ladies attempting to shape an association; and a craving strike by Mexican laborers. The film goes easy and uncovered the maltreatment of human and work rights by indicating military and police mediation utilized in circumstances where laborers, in a wide range of parts the world over, are sorting out to battle the multinationals by endeavoring to unionize.

Saturday, August 22, 2020

Ancient Roman Meals Essay Example For Students

Antiquated Roman Meals Essay Antiquated Roman MealsThe old Romans were like todays ages in their eatinghabits however never ate three generous suppers daily. Ientaculum and prandium weremerely tidbits that filled their stomachs unitl the huge cena, the eventthey anticipate since arousing. They had names for their suppers comparative toours, breakfast (ientaculum), lunch (prandium), and supper (cena). Breakfast, ientaculum was normally taken around nine oclock and consistedof simply a couple of bits of bread sprinkled in salt or plunged in wine, and with afew raisins and olives, and a little cheddar included. The most unfortunate Romans atelittle other than wheat either squashed to make a porridge or ground into flourfor bread. Lunch, or prandium was typically taken around early afternoon. It was normally nothingmore than a bit of bread joined by chilly meat, vegetables, and fruitwashed down with a glass of wine. Both ientaculum and prandium were so shortthere was no compelling reason to prepare the table or wash ones hands. The main genuine feast was the night supper or cena. Supper time waspractically the equivalent for all Romans because of the absence of fake light. Dinnerwas after the shower toward the finish of the eigth hour in winter and at the ninth insummer. The food is for the most part chilly,- breads, plates of mixed greens, olives, cheeses, and meatsremaing from a nights ago supper. Periodically, hot dishes, for example, ham and pigsheads are eaten upon. Some well off Romans would have upwards of seven coursesto feed on. Trimalchio, an affluent Roman would have a tanned jackass with appetizerdishes of olives, stuffed dormice overflowed with nectar and poppy seed, hot sausageswere laid on a silver barbecue close to pomegranate and damson seeds. The guestswere still occupied with the hors doeuvres when a plate would be acquired with abasket on it, in which there was a wooden hen spreading her wings. Under thestraw were Peahen eggs that would base dropped. Each egg contained a fatbecafico moved up in spiced egg yolkf. There were plates with the twelve signsof Zodiac on them that had food matas ching the image, smash, bull, crab, figs,lion, and so on. A few hosts would warm a wfshole pig and afterward engage his visitors byhaving talented swordmen cut the dad fig like he was slaughtering it. After eating,many visitors would engage each othed sfr in burping. It was consideredpolite to burp and discharge wind after a ni sce dinner. Visitors would basically snaptheir fingers and hirelings would come running with jars to contain pee. Spitting was additionally permitted on the floors of the triclinium. It is difficult to envision having after a huge supper however pastry was straightaway. In rich homes, sweet would be served after a shower and afterward drove into a seconddining room where wine streamed like water. Pastry comprised of each sort offruit possible. Poppy-seed blended in with nectar is a standard dish for dessertThe larger part of the basic Romans prepared bread in open pastry kitchens. Thestandard portions are made level, around two inches thick, and stamped withnotches on the top. There were three sorts of grains used to make bread. Coarse grain (panis sordidus) for the average citizens. Panis secundus for thehigher class and the white and sweet siligincus for the rich. At feaststhere will be magnificent baked good palaces and sweet cakes really astounding with theuse of nectar, cleaved organic products, and nuts. Vegetables and natural products were plenitful in Rome. For some miles one couldsee gardens that send artichokes, asparagus, beans, beets, cucumber, lentils,melons, onions, peas, and pumpkins into the city. Garlic is likewise very popularin Roman dishes. Italy was a superb organic product nation and apples, pears, plums,grapes, and quinces were basic in the business sectors. A wide determination of nutsincluding pecans, filberts, and almonds were utilized in cooking and jsut plaineating. Peaches, apricots, fruits, and pomegranates were found in Rome butwere not as bounteous. Plate of mixed greens were in extraordinary interest in Rome. .u77a302a3506b8692b15bed0b1e7a038a , .u77a302a3506b8692b15bed0b1e7a038a .postImageUrl , .u77a302a3506b8692b15bed0b1e7a038a .focused content region { min-stature: 80px; position: relative; } .u77a302a3506b8692b15bed0b1e7a038a , .u77a302a3506b8692b15bed0b1e7a038a:hover , .u77a302a3506b8692b15bed0b1e7a038a:visited , .u77a302a3506b8692b15bed0b1e7a038a:active { border:0!important; } .u77a302a3506b8692b15bed0b1e7a038a .clearfix:after { content: ; show: table; clear: both; } .u77a302a3506b8692b15bed0b1e7a038a { show: square; progress: foundation shading 250ms; webkit-change: foundation shading 250ms; width: 100%; mistiness: 1; progress: haziness 250ms; webkit-progress: murkiness 250ms; foundation shading: #95A5A6; } .u77a302a3506b8692b15bed0b1e7a038a:active , .u77a302a3506b8692b15bed0b1e7a038a:hover { darkness: 1; change: obscurity 250ms; webkit-progress: mistiness 250ms; foundation shading: #2C3E50; } .u77a302a3506b8692b15bed0b1e7a038a .focused content territory { width: 100%; position: re lative; } .u77a302a3506b8692b15bed0b1e7a038a .ctaText { outskirt base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: striking; edge: 0; cushioning: 0; content enrichment: underline; } .u77a302a3506b8692b15bed0b1e7a038a .postTitle { shading: #FFFFFF; text dimension: 16px; text style weight: 600; edge: 0; cushioning: 0; width: 100%; } .u77a302a3506b8692b15bed0b1e7a038a .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; fringe: none; outskirt sweep: 3px; box-shadow: none; text dimension: 14px; textual style weight: intense; line-tallness: 26px; moz-fringe span: 3px; content adjust: focus; content improvement: none; content shadow: none; width: 80px; min-stature: 80px; foundation: url( arrow.png)no-rehash; position: outright; right: 0; top: 0; } .u77a302a3506b8692b15bed0b1e7a038a:hover .ctaButton { foundation shading: #34495E!important; } .u77a302a3506b8692b15bed0b1e7a038a .focused content { show: table; tallness: 80px; cushioning left: 18px; top: 0; } .u77a302a3506b8692b15bed0b1e7a038a-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .u77a302a3506b8692b15bed0b1e7a038a:after { content: ; show: square; clear: both; } READ: Every Cloud Has A Silver Lining EssayThe interest for meat in Rome was continually expanding as the years wentby. Butcher shops turned out to be progressively well known which permitted needy individuals the opportunityto get meat. The destitute individuals would purchase goats tissue which was competely ignoredby finniky eaters. Meat was never extremely well known in Rome. Average folks nevertasted meat except if it was introduced at a penance or extraordinary open celebration. In any event, for the rich, hamburger was no genuine treat. Pork was constantly famous. Pork inall frames particularly bacon and wiener was a treat to all Romans. Poultry wasin more prominent interest than meat. Coops loaded with regular fowl, ducks, and geese wereon deal on each city intersection. Bunnies, hares, venison, and wild pig werealso accessible. The butcher shops were far less significant than the fish dealershops. Needy individuals would eat salt fish of cured fish, from little sardines toslices of the enormous fish. New fish was exceptionally difficult to get in Rome. There are feweels and acceptable pike accessible in Rome. Most of the fish flexibly should bebrought from a remote place. Some ocean bottom would be shipped still alive in smalltanks. Olive oil was food as well as filled the need of washroom cleanser. It was a finished substitute for margarine and made dry and mildew covered bread eatable. It additionally was the reason for most fragrances and balms. For all intents and purposes each Romanhousehold had wine accessible. Brew and different beverages produced using wheat and barleywere accessible as were refined alcohols however they could never apear atItalian dinners like wine. Enormours vineyards were regular in Rome. Visitors were welcomed for evening gatherings by the ace during showers or byslave emissary. Out of pride, the ace of the house would welcome the same number of aspossible to eat with him and a lot of recognized Roman residents would havebeen glad to participate in a family feast. A few hosts would welcome numerous individuals butonly serve utensils and fine dishes to a chosen few. A few hosts would servewine to people dependent on ones economic wellbeing. This sort of discriminationmade some vibe modest and irrelevant. The standard size for an evening gathering ws nine. Three love seats, three visitors to a mentor implied for a solitary arrangement of serving tablesand simple discussion. For bigger gatherings, one must have more triclinia(couches). Rich Romans consistently served cena in an uncommon room called a tricliniumwhose length was twice its width. Before the visitors showed up, the ace cookwas requesting his slaves in the kitched and a chamberlain (upper slave) wouldshout cleaning requests to bring down slaves and whip them in the event that they werent cleaningfast enough. A couple of indications of soil before a gathering was an indication of lack of regard toones visitors. The Romans ate resting laying on the left elbow. The eatingcouches had three leaning back spots. The leaning back postition was consideredindispensible to feasting solace. The Roman ladies had their spot close to theirman on the triclinia. The kids ate sitting on stools before theirparents sofas. Slaves leaned back like their lords just on siestas and wouldusually eat in another room. Three slanting love seats were set around a square table with one sideleft open for serving. Covers and cushions were organized likewise on the lounge chairs. The lounge chair of respect was that inverse the unfilled side of the table, (lectusmedius) and on it the most noteworthy position was the correct hand one called theconsular. Next in respect came the lounge chair to one side of the focal love seat calledthe lectus summus and the keep going sofa on the privilege lectus imus. 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Friday, July 24, 2020

3 Nature Books by Women for My Brother

3 Nature Books by Women for My Brother This guest post about nature books by women is from Gretchen Lida. Gretchen is an essayist and an equestrian. Her work has appeared in The Washington Post, Brevity, The Rumpus, The Washington Independent Review of Books, and many others. She teaches composition in Illinois, lives in Wisconsin, sometimes lives on Nantucket Island and is still a Colorado Native. She is working on her first collection,  Beware the Horse Girls: Essays for the Awkward Equestrian. “Why are there only nature books by old white guys?” My brother asked. I wanted to slap him. Now, this wasn’t fair. My brother is awesome; he is reader, a hard worker, a pragmatic badass, you name it. It could even be argued that he fits the ethos of environmentalism better than I do. He has climbed mountains in Chile and kayaked in Puget Sound. He also works in the summers as a wildland firefighter, his clothes reeking of smoke from California, Washington, Wyoming, and Utah.   I haven’t climbed a mountain or backpacked in years. Instead, I keep a list of the birds I see on a glossy piece of rainbow paper in my kitchen. I take walks along Lake Michigan watching for beach glass. My heart leaps at the sight of Sandhill Cranes. Then I read everything I can get my hands on about our relationship with the natural world.   It also makes sense that my brother’s nature reading has been an exclusive   boys club; much of mine has been, too.   A student of natural criticism must start with Emerson and Thoreau, then go on to John Muir and Jack London. After that, our teachers have us chase the closing of the frontier down with the sharp tonics of Aldo Leopold, and Edward Abbey. I love these authors, but the list feels a lot like going fishing in the harbor near my house: dudes, dudes, and more dudes. Women, too, have a heritage of nature writing. Many of us start reading the stories by Laura Ingalls Wilder, all though we seldom categorize it as nature writing. It’s also fun to uncover that Sarah Orne Jewett described the small wildness she found in Maine in  County of the Pointed Firs in 1896. From there, the environmental boys’ club is rocked by Rachel Carson whose plea against DDT, Silent Spring, is still considered one of the most influential books of the environmental movement. Then there is Annie Dillard, whose imagery and heavy philosophic lifting would make Thoreau proud. Now, Amy Leach, Florence Williams, Hope Jahren, Pam Houston, and many others follow down the green path of environmental writing. So yes, little brother, there are lots of nature books by women, and here are three books to start with.         Wild: from Lost to Found on the Pacific Crest Trail by Cheryl Strayed An Oprah Book Club book might appear an odd choice for a brother who fights wildfires, but man, Strayed can write. I also want my brother to understand that the reason there are fewer women out alone in the woods is all the crap we must take with us. It would be great if women could just set up shop in the Outer Most House like Henry Beston. Instead, we must carry around the anxiety of the world. To be allowed to go into the woods and give up our day jobs, women must playact the rest of society; we must go with the intention of “bettering ourselves.” We must go in and expect to lose weight, to gain weight, to beat addiction, to confront demons. The reason Strayed’s pack is so heavy isn’t just because she sucked at packing, but also because she was toppling over from cultural baggage. Along with Strayed’s ingenious use of duct tape, there is another lesson I want my brother to take with him as he reads this book: Girls are told we sign away our safety when we walk into the woods. The big bad wolf is the men we are told may meet along the trail, the kind of men that make us fear not having cell reception or witnesses. This fear walks along the timberline of truth. The chance bad things will happen to women out on a trail is slim. The times something does happen, and we are blamed for being alone. Strayed has one scene of an “almost” encounter. Since I first read the book three years  go, I can still feel my body react and a whisper, “Safety is fake.” When Women Were Birds by Terry Tempest Williams Yes, Williams can capture the grand natural places of the world with unparalleled sophistication and clarity. Her ability to make her readers understand that family and home are just as much part of the natural ecosystem as waterfalls and lichen is the reason I want my brother to read her. From this book, I learned that my obsession with sunrises over the lake waves is just as valuable to the environmental narrative as a trip up K2.  When Women Were Birds is a memoir that tells the story of Williams’s journey from young Mormon growing up in Salt Lake to one of the most influential environmental writers of the last 20 years. She essays on how her mother and family helped her understand the value of wild places.   Reading it the second time, I couldn’t help but be grateful that my parents and grandparents pointed fingers showing us alpine forget-me-nots, and bighorn sheep. From this book, I want my brother to remember that his life in the wild nowhere is deeply connected to mine even if my wilderness doesn’t look the same as his. Braiding Sweetgrass by Robin Wall Kimmerer Robin Wall Kimmerer made reading about plant biology a bittersweet pleasure instead of something you nap through. In Braiding  Sweetgrass, Kimmerer combines her training as a plant ecologist with her outstanding skills as a writer. She is also a member of the Potawatomi Nation and describes her culture’s ideas about the natural world in a way that this both scientific and compelling. She teaches the reader about the penultimate virtue of gratitude. Kimmerer also has many good stories to tell. Mostly, I want this last book to connect my brother and me. I, the writer; he, the scientist. When he reads Kimmerers words, I want to know if she described the science with the accuracy my untrained eye thinks she has. I want him to ask me about how storytelling can save the wild world we both care so much about. Since I first drafted this list a year ago, my brother has changed.  This year, he left a copy of Silent Spring for me under the Christmas Tree. “It was good,” he told me with a smile and he reminded me that often our ideas can germinate long after we plant them. Now I imagine him with these three books, two of them in his pack, his fire boots smelling of smoke, and the third on his lap beneath his callused fingers.     Want even more books about nature? Weve got 100 of them here.   Sign up for True Story to receive nonfiction news, new releases, and must-read forthcoming titles. Thank you for signing up! Keep an eye on your inbox.

Friday, May 22, 2020

A Detailed Job Description For Staff Retrenchment And...

1. Measuring compliance As noted in sections 2 and 3 above, Zagga must have enough human resources to enable us to carry our ACL and AFSL general obligations. Our measures for ensuring that we have enough human resources will normally include: †¢ recruitment processes and succession planning; †¢ systems for inducting and training new staff; †¢ performance management systems; †¢ processes for staff retrenchment and redundancy (RG104.87); and †¢ automation of certain functions to either obviate, or deduce, as the case may be, the need for human intervention. We will use the questions in Annexure B to help us design and test our measures for complying with the general obligations. 2. Key human resources processes 5.1 In recruiting appropriately skilled employees, Zagga will generally adhere to the following procedure: a. complete a detailed Job Description (JD) including all relevant information about the role, the deliverables, remuneration and areas of competence required, to be approved by the HR Manager and the CEO prior to distribution or publication; b. publish all vacancies internally to determine the availability of internal candidates and/or any referrals from Zagga personnel of suitable candidates; c. where necessary, publish the JD on suitable portals, such as SEEK or LinkedIn Jobs, or where considered appropriate, engage an external recruiter to assist with the recruitment and selection process; d. all candidates will be initially screened for suitability by the HR

Thursday, May 7, 2020

Biological Mechanisms Of The Obesity - 945 Words

Candidate genes allow researchers to come up with rational hypothesis of role of these genes and their contribution to different conditions, in this case obesity. Therefore, they are potential predisposition factors. Candidate genes are chosen on a basis of knowledge of their function, biochemistry and their expression pattern (what protein they encode for and where is this protein mainly expressed) in obesity. At present, there are about 300 genes that have been hypothesized to contribute (to some extent) to obesity development. MONOGENIC Genetic research of obesity was partly successful in establishing obesity in model organisms – rodents where obesity occurs spontaneously together with other pathological aspects (insulin resistance, †¦). The main cause of monogenic obesity in these model organisms are common mutations always present in only one gene. Results of research on model organisms allowed us to understand biological mechanisms of calorie intake and regulation and maintenance of body weight. The most important insight into obesity was achieved in 1994 after discovery of ob gene encoding for leptin. In two years period, using screening method, candidate homologous genes, selected on genetic study basis on mice, another five genes were identified. Mutations on these genes were found to be the cause of autosomal recessive or dominant monogenic obesity. Products of these genes are leptin and its receptor, proopiomelanocortin (POMC) melanocortin receptor 4 (MC4R) andShow MoreRelatedThe Biological Proce sses Of Obesity1527 Words   |  7 PagesObesity can develop when the cumulative energy intake exceeds energy expenditure, when this happens the excess is stored primarily as fat in adipose tissues. The biological processes that regulate the energy balance are highly regulated and this mechanism can be overwhelmed, because of a need to eat when not hungry, if attractive high calorie food is presented in attractive settings, and if individuals are regularly non-mobile for extended periods. The control pathways that include short-term signalingRead MoreObesity And Methods Of Prevention1631 Words   |  7 PagesProfessor Pozos Biology 100 9 December 2014 Obesity and Methods of Prevention In the United States alone, there are more than 78.6 million obese adults. Obesity is a disease that is growing rapidly and has the ability to rip families apart due to the massive destruction it causes to one’s health. Obesity is a very deadly disease and it needs to be stopped. But are there ways to prevent it and save many lives? In this essay, I will explain obesity from a biological perspective and state the different methodsRead MoreChildhood Obesity and Its Effect1260 Words   |  6 PagesChildhood obesity is considered to be a serious issue among our youth. Obesity can cause many types of physical problems, which most are aware of, but it can also cause some undesirable internal feelings within children and adolescents who suffer from it. Self-esteem, or self-worth, is important as it helps develop personality and is a major ingredient to our mental health status (Wang, F. and Veugelers, P. J., 2008). Some have said obesity may even have a negative effect on cognitiv e developmentRead MoreHow Obesity Has Revolutionized The Way We Think About Health And Sickness Essay1567 Words   |  7 Pagesconsiders obesity to be â€Å"the biggest unrecognized public health problem†Ã¢â‚¬â€it impacts millions of people worldwide (as cited in James, Rigby Leach, 2006). With adult obesity having already reached epidemic proportions, childhood obesity is beginning to do the same (World Health Organization, 2006). Canada has seen a dramatic increase in obesity among children aged 6 to 11: the rate of obesity has doubled from 13% in 1978 to 26% in 2004 (Shields, 2006). With the prevalence of childhood obesity increasingRead More Regulation of Food Intake in Obese People: Little Evidence for an Antiobesity Drug1155 Words   |  5 PagesRegulation of Food Intake in Obese People WHAT IS OBESITY? The most common eating disorder in our society is excessive eating which includes craving and compulsive eating which can quite often result in obesity ( Obesity is a body condition where a persons body mass index is greater than 30. Other diseases that can accompany or follow obesity include diabetes, hypertension, and heart disease. Also, obese people are at a greater riskRead MoreResearch: Theories of Weight Bias1690 Words   |  7 PagesA Defense of Collective Responsibility Within the context of the obesity epidemic today, the finger of blame is most often cast in the direction of individual responsibility towards health maintenance. This reasoning, however, is ineffective, as it evokes shame upon those struggling with weight management, suggesting their weakness and/or poor self-control, and is a source of lax governmental intervention. When we consider the externalities at force which manipulate eating habit and choice, it’sRead MoreThe Effects Of Obesity On The Health1393 Words   |  6 Pageshealth is defined as obesity (Royal College of Physicians, 1998). Obesity is a developing condition within the population that already affects 1 in 4 adults in England (NICE, 2006). Internationally, being overweight is linked to a range of harmful health problems such as diabetes and heart disease. Obesity can be explained through the use of the nature-nurture debate, as it can be caused by both elements. In this essay, examples and facts will be discu ssed which show that obesity is a result of heredityRead MoreEating Disorders And Their Effects On Victims Of Them1281 Words   |  6 Pagesare mental illnesses that exist in both males and females, but are most commonly seen in females between the ages of 12-25. Eating disorders are not only about losing weight or a person’s insecurities, it could be that food being used as a coping mechanism is a cause of eating disorders. They are often paired with other afflictions like depression, anxiety, and abuse. There are three most common eating disorders that will be discussed in this essay, the first one being discussed is anorexia nervosaRead MoreA Brief Note On Atherosclerosis And Its Effects On The Heart Essay1347 Words   |  6 Pagesshort-term, the death of myocardial cells due to occlusion and lack of oxygen and nutrients leads to overall decreased muscle cells, decreased stroke volume, and thus decreased cardiac output. Following an MI, cell death, inflammation, and neurohormonal mechanisms contribute to cardiac remodeling which has long-term detrimental consequences. Initially, persistent ischemia directly leads to cardiomyocyte loss from necrosis and apoptosis. Furthermore, inflammatory cells and their mediators such as the pro-fibroticRead MoreThe Effects Of Obesity On An Individual s Health And Well Being954 Words   |  4 Pagesthis might have changed over time, and how this might influence group members’ use of services. Adult obesity stigmatisation Introduction This essay will consider the holistic impact of obesity on an individual s health and well-being. Adult obesity as a group, is facing stigmatisation and discrimination, stereotyping and negative attitude in the workplace, retail and even healthcare. Obesity was chosen due to the significant, potential threat to the individual health and how this may be an underlying

Wednesday, May 6, 2020

The Emh, the Financial Crisis and the Behavioral Finance Free Essays

string(32) " asset prices in the real life\." The EMH, the Financial Crisis and the Behavioral Finance 1. Introduction The Efficient Market Hypothesis (EMH) that was first proposed by Fama (1965, 1970) is the cornerstone of the modern financial economic theory. The EMH argues that the market is efficient and asset price reflects all the relevant information concerned about its return. We will write a custom essay sample on The Emh, the Financial Crisis and the Behavioral Finance or any similar topic only for you Order Now The genius insight provided by the EMH has changed the way we look at the financial crisis thoroughly. However, the confidence in the EMH is eroded by the recent financial crisis. People can not help to ask: if the market is efficient and the price of assets is always correct as suggested by the EMH, why there exists such a great bubble in the financial market during the recent financial crisis? Apart from that, the EMH has even been criticized as the culprit of the recent financial crisis. (See Nocera, 2009 and Fox, 2009) Actually after the EMH was proposed, many anomalies have been found in the financial market and financial economists have developed many theories in order to explaining these anomalies. Among these the most influential one is the so called behavioral finance, which argues that the complex human behavior plays an important part in determining asset prices. The rest of the essay is arranged as follows. Section 2 explains what the EMH implies and its limitations. Section 3 emphasizes on explaining the usefulness of the EMH in the context of the recent financial crisis. Section 4 focuses on interpreting the behavioral finance. Section 5 concludes the essay. 2. The implications of the EMH According to Ball (2009), the implication of the EMH can be summarized as follows. The implication of the EMH can be decomposed into two parts. The first insight of the EMH is related to the most profound insights of classical economics, that is, there is no excess profit in a complete market, which is due to the fierce competition in the market. If there exists excess profit in such a market, then the entry of new producers will eventually eliminate it. The second insight is that information is symmetric dissemination, which implies that information can flow freely in the market without cost and time lag. Putting these two parts of insights together, the EMH implies that the market is efficient and asset prices reflect all the relevant information concerned about its return, and that investors can only get commensurate return with the cost of exploiting information due to the competition in the market. According to the EMH, people can only expect to get average return in the stock market and it is impossible to beat the market continuously. Note that it is futile to exploit information in order to get abnormal return does not mean that no one should act to exploit information. As a matter of fact, the EMH is a natural result of the fierce competition in the market—if there is no competition in the market, the market can not be efficient. In other words, asset price can not reach its equilibrium level automatically. Ice-cream producers face fierce competition from other producers in the market and it is impossible for them to get abnormal profit, but it is foolish for ice-cream producers to stop making ice-cream because they will get nothing if they do not work. Fama (1970) classifies the market into three categories: the weak form efficiency, the semi-strong form efficiency and the strong form efficiency. In the weak form efficiency market, asset prices reflect all the historical information, so it is impossible to obtain abnormal return using historical data and technological analysis is useless. In the semi-strong form efficiency market, asset prices reflect all the information that is publicly available, and thus it is impossible to get abnormal return using publicly available information. In the strong form efficiency market, asset prices reflect all the relevant information, including all publicly available information and inside information, so investors can only get average return and it is impossible to beat the market. 3. The performance of the EMH in explaining the recent financial crisis During the recent financial market, the stock market fell sharply, banks went bankrupt and the financial system was damaged seriously. This financial crisis has eroded the confidence in the EMH. The validity of the EMH and the existence of the efficient market are questioned broadly. If asset prices are always correct and reflect all the relevant information concerning about its return just as the EMH has suggested, why there exists such a great bubble in the financial market during the recent financial crisis? If the market is efficient, why the market fails to predict the collapse of Lehman Brothers, Bear Stern and other large financial institutions? Overall, the EMH fails to answer such questions. Moreover, the EMH also performs poor in explaining other financial crisis. One example is the Tulipmania that occurred in the 17th century. The prices of the tulip bulbs reached extremely high level which seriously deviates from its fundamental value that was suggested by the EMH. This apparent bubble is contradicted with the prediction of the EMH. In fact, the explaining power of the EMH becomes pale when confronting financial crisis. The EMH does not assume that investors are rational, but the EMH does assume that the market is efficient. But the reality may not be that simple. Investors may exhibit a lot of irrational behaviors in the real life, such as overconfident in their ability, following others readily, making wrong decisions when in exuberant state, and so forth. These irrational behaviors of investors without doubt will weaken the explaining power of the EMH. Apart from that, the EMH assumes that information is symmetric dissemination and can flow freely without cost and time lag, but information in the reality may not be symmetric disseminated, information may not be able to flow freely, this will also affect the validity of the EMH in explaining asset prices in the real life. You read "The Emh, the Financial Crisis and the Behavioral Finance" in category "Papers" Besides, factors such as sociological factors also play a part in determining asset prices. In author’s opinion, asset price is just like a glass of beer. At the lower part of the glass is the real beer, representing the intrinsic value of the asset that can be explained by the EMH. At the upper part of the glass is the foam, representing values that can not be explained by the EMH. In other word, the EMH can not explain bubbles, which is the systematic deviation of asset prices from their fundamental value. The EMH has even been criticized as the culprit of the financial crisis. In Nocera (2009) and Fox (2009), both of them believe that the notion of efficiency was responsible for the financial crisis. They argue that since the market is efficient and asset prices reflect all relevant information, the investors and supervisors feel it is unnecessary to look into the intrinsic value of assets, and so fail to be aware of the asset price bubbles, thus the financial crisis occurs. Actually, not soon after the EMH was first proposed, scholars have found many anomalies that contradict with the prediction of EMH. De Bondt and Thaler (1985, 1987) found that investors tend to overreact to unexpected news and events and such irrational behavior affects stock prices; Jegadeesh and Titman (1993) found that investors using trading strategies that buying past winners and selling past losers can get abnormal returns during the period 1965 to 1989. De Long, Shleifer, Summers and Waldman (1990) argue hat some anomalies such as the excess volatility of asset prices, the mean reversion in stock prices, and so forth, can be explained by the notion of noise trader risk. These studies have challenged the validity of the EMH. 4. The behavioral finance As has been described before, there are many anomalies that can not be explained by the EMH. Objectively speaking, these anomalies give impetus to the development and breakthrough of financial economic theories. Scholars so far hav e developed many models so as to explaining there anomalies, among which the most influential one is the behavioral finance. The behavioral finance takes psychological factors into account when determining asset price. According to Fuller (2000), the behavioral finance can be described in three ways. In the first way, he thinks that the behavioral finance is the integration of psychology and decision making science with the classical financial economic theory. In the second way, he views the behavioral finance as an attempt to explain the anomalies that have been observed and reported among current literatures in the financial market. In the third way, he thinks that the behavioral finance is a discipline that studies how investors make ‘mental mistakes’ in investment decision making process. The traditional asset pricing theories are developed under the assumption that investors are rational and thus can make right decisions, that is, investors will not hurt themselves when making decisions. But the behavioral finance theory is developed under the assumption that investors are not always rational and human behavior is irrational at some time and that the financial market is sometimes inefficient. This assumption is much more reasonable than that of the traditional asset pricing theories. Ritter (2003) summarizes some irrational behavior of human beings, such as people tend to follow ‘heuristics’ or rules of thumb, which sometimes lead to biases, people are overconfident about their abilities, people act slowly to adjust to changes, people sometimes separate decisions which should be combined together in principle, and so forth. He argues that these irrational behaviors of investors will lead to misevaluation. Another important assumption made by the behavioral finance is the limits to arbitrage. In a market where arbitrage can be carried out without limitation, mispricing of asset will be eliminated quickly. But if there are limits to arbitrage, for instance, short sale is not allowed in the financial market, the misprcing of asset may not be eliminated. Under the circumstance that the mispricing of asset is seriously, arbitrager will even choose to give up arbitrage due to the huge risk involved in the arbitrage. This assumption implies that the market is inefficient when there are limits to arbitrage. De Long, Shleifer, Summers and Waldman (1990) maintain that in an economy where rational and irrational traders are mixed, the behavior of noise traders can have huge continuous impact on asset prices, because the huge risk arbitragers confront made arbitrage less attractive. The first scholar who stresses the importance of psychological factors in investment decision making is Keynes. Keynes argues that the ‘animal spirits’ of investors is the psychological foundation of irrational exuberance and crash. Kahneman and Tversky’s (1973, 1979) description on the belief and preference of investors under uncertainty lays the theoretical foundation for the behavioral finance. After that, the behavioral finance develops rapidly and gradually become the most important branch of financial economics. By economic intuition, since that the behavioral finance takes psychological factors into account when determining asset prices and that these factors do have important impact on the decision-making behaviors of investors, we can say that in the short run the behavioral finance provides a better for the behavior of investors and the financial markets than the EMH. But in the long run, investors will eventually realize and correct their irrational behavior, and the EMH will perform better than the behavioral finance. . Conclusion Under certain assumptions, the EMH maintains that asset prices reflect all the relevant information about the asset, thus it is impossible for investors to get abnormal return and beat the market. The EMH implies that there is no unexploited profitable opportunity in the financial market. Although the EMH provides a useful insight through which we look at the financial market, the EMH fails to explain the more and more anomalies in the financial market. The EMH provides little useful explanation about the recent financial crisis. The validity of the EMH is questioned and the confidence in the EMH declines. Moreover, the EMH has even been criticized as the culprit of this financial crisis. Given the criticism the EMH suffers, scholars have developed varieties of theories so as to explain the anomalies in the financial market. Among these the most influential one is the behavioral finance. The behavioral finance studies how the behavior of human beings affects asset prices and the financial market. Based on the assumption that investors are sometimes irrational and the market is inefficient and that there are limits to arbitrage, the behavioral finance overall gives better explanations concerning the anomalies in the financial market than the EMH. The behavioral finance is a rapidly developing field in the financial economics. Reference Ball, R. 2009) ‘The global financial crisis and the efficient market hypothesis: What have we learned? ’, forthcoming in Journal of Applied Corporate Finance, Electronic copy available at: http://ssrn. com/abstract=1502815 (Accessed: 10 March 2010) De Bondt and Thaler (1985) ‘Does the stock market overreact? ’, Journal of Finance, Vol. 40, No. 3, pp. 793-805 De Long, Shleifer, A. , Summers, A. S. and Waldman, R. J. (1990) ‘Noise trader risk in financial market’, Journal of Political Economy, Vol. 9 8, No. 4, pp. 703-738 Fama, E. F. (1965) ‘Random walk in stock market prices’, Financial Analyst Journal, Vol. 21, No. 5, pp. 55-59 Fama, E. F. (1970) ‘Efficient market hypothesis: A review of theory and empirical work’, Journal of Finance, Vol. 25, No. 2, pp. 383-417 Fuller, R. J. (2000) ‘Behavioral Finance and Sources of Alpha’, forthcoming in Journal of Pension Plan Investing, Vol. 2, No. 3 Fox, J. (2009) ‘The Myth of the Rational Market: A History of Risk, Reward and Delusion on Wall Street’, New York: HarperCollins Jegadeesh, N. and Titman, S. 1993) ‘Returns to buying winners and selling losers: Implications for stock market efficiency’, Journal of Finance, Vol. 48, No. 1, pp. 65-91 Kahneman, D. and Tversky, A. (1973) ‘On the psychology of prediction’, Psychological Review, Vol. 80, pp. 237-251 Kahneman, D. and Tversky, A. (1979) ‘Prospect theory: An analysis of decision under risk’, Econometrica, Vol. 47, pp. 263-291 N ocera, R. (2009) ‘Poking holes in a theory on markets’, New York Times, June 5, 2009 Ritter, J. R. (2003) ‘Behavioral finance’ ,Pacific-Basin Financial Journal, Vol. 11, pp. 429-437 How to cite The Emh, the Financial Crisis and the Behavioral Finance, Papers

Monday, April 27, 2020

Macbeth Characters Essays - Characters In Macbeth,

Macbeth Characters Acts I and II Macbeth, Lady Macbeth and Banquo are all tempted with the witches' prophecies. Horrid images immediately begin to invade the minds of these three characters. However, it is their responses to this and the choices they make that distinguish them from one another and ultimately change lives forever. Macbeth and Banquo respond to the witches' predictions in different ways. Banquo is very skeptical. Although he begs for their prophecy of his future, he is not so taken with their revelations as he says, "Speak then to me, who neither beg nor fear/ Your favours nor your hate" (I.iii.60-61). Fair words can mean foul things. Their replies are tempting but he passes them off as only trouble. Macbeth is understandably thrilled at the sudden reality of the truths and becomes obsessed with the idea of being king. He claims to have decided to allow fate to direct his destiny, but their predictions have left a frightening impression in his mind. Banquo uses good judgment believing that the witches represent evil and will bring more harm than good, but the rapid occurrence of events clouds Macbeth's judgment and cause him to fall prey to this deep impatient ambition. From the moment Lady Macbeth reads the letter, she is determined to make the witches prophecy come true. Her mind is an echo of the witches predictions, "Fair is foul and foul is fair"(I.i.10). However, the witches are forces of nature and fate and Lady Macbeth is human. They may have pointed Macbeth in a direction but did not force him to commit to anything as she did. Their predictions only came true because of her push. The quick decisions begin as she plans the ?quickest way' to get Macbeth on the throne. Shakespeare introduces her character as a dominant and controlling wife. Contrary to her heartless nature though, Macbeth addresses her as a pure being because only he knows of her hidden weaknesses. Lady Macbeth's character portrays many rich combinations of personality: evil, manipulating, delicate, kind. Her resolution is so intense that it frightens Macbeth. The sickening determination is expressed with potent imagery in scene 5, "Come to my woman's breast, and take my milk for gall"(I.v.48-49). As soon as she sees Macbeth's apprehensions, she mocks him by implying that he is a coward. She even questions his manhood. Although Macbeth is chilled by his wife's hard attitude, he succumbs to her prodding and prepares to commit to the murder. His goodness and loyalty can be seen as he struggles with the foulness of his ambition. But when the king tells of his visit to their home, Macbeth realizes that the time and opportunity are perfect to quench this "burning of desire" (I.v.3). Banquo and Macbeth's contrasting characters are obvious in Act II. Banquo has some strange uneasiness which makes him unwilling to go to sleep. His nervousness is evident when he hears somebody coming and calls for his sword, even though he should feel safe in Macbeth's castle. Banquo tells Macbeth about his fear to sleep because of the witches' predictions. He is having"cursed thoughts" (II.i.8) and is fearful for Macbeth also. Macbeth bluntly lies and claims that he has thought "not of them" (II.i.22). While Banquo is confiding his private thoughts to his friend, Macbeth is dodging honesty and hints at business that will "make honor" (II.i.26). Banquo, although tempted by the thoughts of his heirs, rejects the prophecies and rationally overcomes the sinful thoughts. He proves his integrity by never truly considering to act of these evil dreams. Banquo maintains a clean conscience and responds cautiously but begins to suspect that something is amiss. Macbeth's character seems to have become more independent at this stage. He has gained a sense of purpose and does not need his wife's demands anymore. However, in the moments before the crime is committed, Macbeth sees visions and seems to have lost his mind. He does not know whether to trust his eyes or his reason: "Mine eyes are made the fools of the other senses, or else worth all the rest" (II.i.44-45). His rationality takes over and the murder is done. He immediately changes once again into a frightened child. Macbeth is nearly driven mad by the horror of his actions but his wife urges him to be practical. Tension is seen when the deed is done and husband and wife exchange sharp, quick words. Macbeth is horrified with what he has done while Lady Macbeth takes a soldier's stance as she says, "These deed must not be Macbeth Characters Essays - Characters In Macbeth, Macbeth Characters In Shakespeare's Macbeth, Lady Macbeth is made to act as a catalyst in Lord Macbeth's evildoings. Even though Lord Macbeth is generally the one to have the final say in the many killings that take place in the play, Lady Macbeth plays the role of a tyrannical villain alongside him. She mocks her Lord if he frets over something she has instructed him to do, saying he would be less of a man if he does not follow through on their plan (I. vii. 56-57). She gives Lord Macbeth a short lecture in deceptiveness when they are planning to kill King Duncan (I. vi. 73-78). She also prepared the daggers for Macbeth to kill Duncan in advance (II. ii. 15-16). Though her Lord was still having doubts, she was, in the most literal sense, ready to go in for the kill. Clearly demonstrating another villainous characteristic other than self- gain, Lady Macbeth shows the fear of getting caught when she unintentionally gives herself away in her sleep (V. i. 33, 37-42, 44-47, 53-55, 65-67, 69-72). Though her fear can suppress itself during a conscious state of being, she can do nothing about it when she is asleep. Throughout the play and leading up to her eventual suicide, Lady Macbeth slowly weakens. Yet, in the beginning of the play, she acts as if she is unstoppable. When Macbeth has his doubts and fears about murdering the loyal Duncan, Lady Macbeth chastises him, calling him everything from a coward to a helpless baby (I. vii. 39-49, 53-67). She even offers to do it herself, possibly to make Macbeth feel that he's even more cowardly because a woman is offering to do "his" job. This pushes Macbeth to kill, though these are the actions that will eventually lead to both of their demises later in the play. Macbeth tries to convince Lady Macbeth, as well as himself, that she is wrong: 3 Prithee, peace. I dare do all that may become a man. Who dares more is none. (I. vii. 50-52) However, Macbeth does not seem to fully convince her, because he is still mocked by his wife. Whether he failed to convince himself or to convince his Lady is irrelevant; he went through with the murder anyhow. Not only does Lady Macbeth push her husband to do things he does not want to, but she also informs him that his face is too easy to read. Of course, she does not want her husband or herself to get caught, so she gives him advice in the area of deceptiveness. When she tells him to "look like th' innocent flower,/ But be the serpent under ?t" (I. vi. 76-78), not only is she doing this so that Macbeth will not give himself away, but so that he will not give her away in the meantime. Even before that early point in the play, Lady Macbeth has already demonstrated that she is two-faced. When Duncan first arrives at the castle, Lady Macbeth acts as a welcome hostess, when in reality she has different plans for Duncan than she lets on. Through the careful use of chastisement, Lady Macbeth manages to manipulate her Lord so that she may get what she wants: a dead King Duncan in her house. Indeed, Lady Macbeth does get what she wants, and ultimately what she deserves, as the play progresses. Usually, though she has to nudge her husband a bit before he takes action, Macbeth is relatively obedient. Lady Macbeth seems to realize that her husband probably will not go through with the murder of Duncan until she pushes him to the point of no return, so she prepares everything in advance. All Macbeth has to do for 4 his part in the murder is actually kill Duncan; Lady Macbeth sets out the daggers and gives the guards enough alcohol so that they pass out. She was so eager to have Duncan dead that she almost killed him herself. "Had he not resembled/ My father as he slept, I had done ?t" (II. ii. 16-17). Yet she still had her husband commit the crime, whether it was because she was actually scared to do so, or because she wanted him to feel empowered. Either way, Lady Macbeth was definitely ready for Duncan to die. Despite her eagerness earlier in the play, Lady Macbeth seems a bit afraid that she might get caught later in the play. When she sleepwalks and talks in her sleep, she demonstrates a fear that clearly represents