Greed and Evil Canterbury Tales Geoffrey Chaucher Essay Example for Free

Greed and Evil Canterbury Tales Geoffrey Chaucher Essay In Chaucers section of the Canterbury Tales, The Pardoners Tale various literary elements occur. He displays personification, and makes death a character, giving him life. He includes a moral to his tale which is greed is the root of all evil(Bible) and gives the story meaning. Chaucers plot is another key part to the story, because it proved greed can bring evil. Chaucer wrote the Pardoners Tale with the theme greed is the root of all evil he was able to show this by using various literary elementsThe moral, greed is the root of all evil(Bible), is displayed through the greediness of the three characters. When the youngest leaves, his mind was able to devise an evil plan caused by greed. His selfishness caused him to do the following, And deftly poured the poison into two. He kept the third one clean, as well he might, For his own drink, meaning to work all night(Chaucer 217-218). The youngest was tempted by greed to commit an evil action. Chaucer wanted the reader to realize money and greed are problems with society. They cause people to commit evil acts. Killing someone for money shows Chaucer wanted one to read this tale and recognize the problems of greed. The Characters are essential to this tale also. Chaucer displays death as a character giving him human traits and personifying him. This personification of death adds a sense of doom and gives a slight fear. Death adds these qualities because dying is like a journey to the unknown, and it naturally scares people to think about it. When Chaucer writes, There came a privy thief, they call him Death, Who kills us all round here(Chaucer 15-16) he attempts to add a sense of fear and terror by saying there is a person who goes around and kills everyone. It is far scarier then using death as a thing that happens instead of using death as a person. Chaucers personification of death improved the story by creating suspense, and terror. The plot of the story is the most important, and uses irony to gives entertainment. The three men went looking for death, and find it to be a heap of gold. The irony of this was that the characters ended up getting killed themselves and on their search for death they met their own death, which was the heap of gold. This ironic occurrence is almost comedic when all three men plan to kill one another and all three men succeed in doing  this. Chaucer writes Thus these two murderers received their due, so did the treacherous young poisoner too.(Chaucer 237-238). The irony here also criticizes greed in humans. It makes fun of the fact that greed really is the root of all evil. Chaucer created this irony for both entertainment and to make a point about greed. In conclusion Chaucer wrote his story with the theme greed is the root of all evil (Bible) and used the literary elements of plot, moral, and characters to achieve this. Chaucer struck fear and added suspense when he personified death. Without personifying death Chaucers story would have been less exciting. Chaucer was ironic with his plot and those who were looking for death found it. This comedic addition also criticized humans and their tendency to be greedy. Chaucer was successful in creating a story which explained how greed is the root of all evil(Bible). Geoffrey Chaucer, The Canterbury Tales, ed. Larry D. Benson (Boston: Houghton Mifflin, 2000). New Testament in Pauls first epistle to Timothy (1 Timothy 6:10).

La Bolsa De Valores De Colombia

La Bolsa De Valores De Colombia QUE ES UNA BOLSA DE VALORES Una bolsa de valores es un establecimiento, que puede ser pà ºblico o privado, autorizado por los gobiernos de los paà ­ses, en el cual se negocian (compran y venden) tà ­tulos valores como acciones, bonos, tà ­tulos de deuda pà ºblica etc. La negociacià ³n de los tà ­tulos la realizan personas autorizadas las cuales se denominan corredores de bolsa (|brokers en ingles). Los corredores de bolsa son intermediarios entre un vendedor y un comprador de tà ­tulos, generalmente representan a uno de à ©stos y negocian por orden de à ©ste. Por realizar esta actividad, los corredores de bolsa cobran una comisià ³n. Sà ³lo los corredores de bolsa autorizados pueden llevar a cabo las negociaciones. Existe una serie de exigencias y normas muy estrictas que los rigen tanto a ellos como a las empresas que deseen negociar sus valores en la bolsa. Lo anterior permite que los inversionistas (personas o empresas que quieran invertir dinero en tà ­tulos valores) sientan confianza y seriedad a la hora de negociar en la bolsa. Las bolsas, por lo tanto, se pueden considerar como un mercado centralizado y regulado (mercado que recibe el nombre de MERCADO BURSATIL. Este mercado le permite a las empresas financiar sus proyectos y actividades a travà ©s de la venta de tà ­tulos. Igualmente, permite a los inversionistas opciones de inversià ³n a travà ©s de la compra de los tà ­tulos. Existen bolsas de valores en muchos lugares del mundo: ciudades importantes como Nueva York, capitales de paà ­ses como es el caso de Londres o Tokio, etc. Es importante anotar que las bolsas se comunican entre sà ­. HISTORIA DE LA BOLSA DE VALORES DE COLOMBIA La Bolsa de Valores de Colombia (BVC), creada el 3 DE JULIO DEL 2001, es el à ºnico mercado de acciones y otros valores de Colombia organizado a travà ©s de la estructura de bolsa. Anteriormente operaban tres bolsas de valores independientes Bolsa de Bogotà ¡ (1928), Bolsa de Medellà ­n (1961) y Bolsa de Occidente (Cali, 1983) que se fusionaron para crear la BVC. Tiene oficinas en Bogotà ¡, Medellà ­n, Cali, Barraquilla y Pereira. El resto del mercado se organiza a travà ©s de sistemas centralizados de transaccià ³n de operaciones que no hacen parte de la Bolsa de Valores de Colombia. MISION DE LA BOLSA DE VALORES DE COLOMBIA Contribuir al crecimiento y desarrollo del mercado de capitales a travà ©s de la canalizacià ³n del ahorro hacia la inversià ³n productiva mediante la administracià ³n de mercados eficientes, transparentes, equitativos, competitivos, seguros y supervisados, en beneficio de emisores, inversionistas e intermediarios, y generar valor para sus accionistas mediante un adecuado equilibrio entre los objetivos de rentabilidad y el desarrollo de los objetivos de mediano y largo plazo. VISION DE LA BOLSA DE VALORES DE COLOMBIA En el 2015 la BVC serà ¡ el principal foro de negociacià ³n de activos financieros en el paà ­s, administrando un 55% del total transado en el mercado nacional. Para lograrlo, la organizacià ³n crearà ¡ valor para sus accionistas, trabajarà ¡ en conjunto con intermediarios y reguladores, ejecutarà ¡ procesos confiables orientados estratà ©gicamente hacia los resultados e incorporarà ¡ el mejor capital humano y tecnolà ³gico disponible. VALORES DE LA BOLSA DE COLOMBIA ïÆ' ¼ Excelencia o aquello que hacemos y cuando lo hacemos proactivamente bien. ïÆ' ¼ Liderazgo o el deber para crear un mejor futuro. ïÆ' ¼ Innovacià ³n o la imaginacià ³n y la creacià ³n. ïÆ' ¼ Orientacià ³n al mercado o el compromiso total con los clientes. ïÆ' ¼ Trabajo en equipo o la cooperacià ³n y el genio colectivo. ïÆ' ¼ Pasià ³n o la entrega de corazà ³n y razà ³n. ïÆ' ¼ Competitividad o en lo que participamos, ganamos. PRESENCIA INTERNACIONAL Contexto internacional Consciente de la responsabilidad como administradora de sistemas transaccionales a travà ©s de los cuales el mercado de activos financieros en Colombia realiza sus operaciones, la BVC mantiene un contacto permanente con las diferentes bolsas del mundo y organismos internacionales. El objetivo de su gestià ³n internacional es conocer y adelantar gestiones encaminadas a elevar la calidad de sus servicios y homologar sus actividades a està ¡ndares internacionales a travà ©s de instrumentos y mecanismos de negociacià ³n que tiendan a generar nuevas alternativas de inversià ³n y financiacià ³n en un escenario de seguridad y transparencia para todos los actores que en ella intervienen. A continuacià ³n, la BVC presenta un resumen sobre la actividad que adelanta con el Banco Interamericano de Desarrollo, BID, su vinculacià ³n y beneficios para Colombia al ser miembro de la Word Federation of Exchange, WFE y, finalmente como parte de la Federacià ³n Iberoamericana de Bolsas, FIAB. La presencia internacional de la BVC ante los organismos internacionales anteriormente citados, responde a la iniciativa de la BVC de integrar el mercado de valores colombiano para ofrecer nuevas alternativas de inversià ³n y financiacià ³n a los empresarios, inversionistas e intermediarios. Banco Interamericano de desarrollo BIP En abril de 2002 el Banco Interamericano de Desarrollo, BID, como administrador del Fondo Multilateral de Inversiones, Fomin, y la Bolsa de Valores de Colombia, BVC, firmaron un convenio de cooperacià ³n tà ©cnica no reembolsable para fortalecer el mercado de capitales nacional mediante el desarrollo de los siguientes proyectos. Bolsa de futuros y opciones Sus objetivos son la estructuracià ³n, diseà ±o operativo, adquisicià ³n de la plataforma tecnolà ³gica y puesta en marcha de una Bolsa de Instrumentos Derivados. En principio, esta bolsa operarà ¡ sobre contratos de divisas y tasas de interà ©s en pesos. Mà ¡s adelante, podrà ¡n transarse instrumentos sobre opciones y contratos basados en à ­ndices bursà ¡tiles y otros instrumentos de cobertura. à ¼ Cà ¡mara de compensacià ³n riesgo central de contraparte La Bolsa se apoya en servicios de consultorà ­a experta en el tema de buenas prà ¡cticas de gobierno corporativo, con el fin de evaluar, desear e implementar mejores prà ¡cticas en los emisores de valores en Colombia. Con base en los resultados de la evaluacià ³n, la BVC hoy realiza un programa de divulgacià ³n que permite promover los resultados del proyecto y redunde en mayor confianza de los inversionistas hacia los tà ­tulos emitidos por compaà ±Ãƒ ­as con dichas prà ¡cticas. à ¼ World Federation of Exchanges, WFE La Bolsa de Valores de Colombia, BVC, desde octubre de 2003 hace parte de la Word Federation Exchange, organismo internacional que agrupa a las 56 Bolsas y mercados mà ¡s grandes del mundo, para ser miembro de la WFE, la BVC cumplià ³ con requisitos propios de la industria financiera en el mundo, que aseguran una operacià ³n y funcionamiento acorde con està ¡ndares internacionales. à ¼ Beneficios para la BVC al ser miembro de la WFE à ¼ El reconocimiento internacional que le permite a la BVC interactuar con las principales bolsas de mundo. à ¼ Posibilidad de acceder a foros de intercambio de conocimientos y experiencias de otras bolsas de valores à ¼ Participacià ³n en eventos, seminarios y congresos mundiales de interà ©s para el mercado, asà ­ como acceder a los resultados o conclusiones que se generan en los mismos. à ¼ Afianzar los và ­nculos profesionales y comerciales con las Bolsas mà ¡s importantes del mundo ïÆ' ¼ A las Sociedades Comisionistas de Bolsa les beneficia en la medida que el mercado colombiano alcanza està ¡ndares internacionales y logra un reconocimiento global.  ¿Quà © es la World Federation of Exchanges? ïÆ' ¼ La World Federation of Exchanges (WFE) es la organizacià ³n comercial para las seguridades y los mercados derivados regulados, instituciones del establecimiento y cà ¡maras de compensacià ³n relacionadas, y sus diversos servicios a los mercados de capitales. ïÆ' ¼ La federacià ³n es una organizacià ³n internacional privada que abarca a los operadores mà ¡s importantes del mundo y con los niveles mà ¡s altos de la calidad de mercado. La organizacià ³n proporciona un foro para la comunicacià ³n, el anà ¡lisis y la discusià ³n entre sus miembros ïÆ' ¼ Asà ­ mismo, compartir la experiencia y el conocimiento del negocio entre los miembros de la WFE es un factor crà ­tico para el desarrollo de la industria, aà ºn mà ¡s cuando los operadores de mercado financiero ofrecen servicios en un ambiente cada vez mà ¡s competitivo. ïÆ' ¼ Su propà ³sito es facilitar la representacià ³n, el desarrollo de mercados organizados y regulados, y resolver las necesidades de los mercados de capitales para ofrecer un mejor servicio a sus usuarios. La calidad de miembro de la federacià ³n es un criterio para que reguladores e instituciones nacionales de la gerencia de activos financieros permitan el acceso privilegiado para la inversià ³n INDICES BURSATILES 1. GINI Este à ­ndice nos permite conocer el nivel de concentracià ³n de la propiedad accionaria entre sus beneficiarios reales. Cuando se habla de concentracià ³n de la propiedad accionaria se dice que la mayor parte de las acciones en circulacià ³n de una organizacià ³n esta en manos de unos pocos accionistas. Este indicador busca llegar a la propiedad accionaria de las personas naturales como objetivo mismo del indicador, basado en que las personas naturales puedan ser propietarias en forma directa o indirecta a travà ©s de otras compaà ±Ãƒ ­as. Cuando la propiedad de las empresas estas distribuida igualitariamente entre todo los accionistas, es decir, cuando hay total desconcentracià ³n, el resultado del GINI es cero y, por el contrario. Cuando la desigualdad o concentracià ³n de la propiedad es total, el indicador es uno. Su interpretacià ³n es bueno complementarla con la participacià ³n de la empresa en el sector respectivo. 2. à ndice de bursatilidad Accionaria (IBA) Mide la caracterà ­stica de una accià ³n basada en la facilidad para comprarla u ofrecerla en el mercado secundario. De acuerdo con la liquidez de la accià ³n y su negociabilidad se clasifica en alta, media, baja, minima y ninguna bursatilidad en una escala de 0 a 10. El calculo se basa en cuatro relaciones bà ¡sicas: el valor transado promedio por rueda, el numero de acciones transadas sobre el numero el numero de acciones en circulacià ³n, el numero de operaciones realizadas sobre el numero de ruedas realizadas y el numero de ruedas en que cotiza sobre el numero de ruedas realizadas. 3. à ndice de precios de la Bolsa de Bogota Es un indicador de la evolucià ³n de los precios de las acciones mas representativas que se transan en las Bolsas de Bogota. Su variacià ³n indica la tendencia al alza o a la baja de los precios de las acciones. Su objetivo como indicador no difiere de los utilizados a nivel internacional, sin embargo, diferente de estos por la forma de su cà ¡lculo al basarse en una canasta de acciones variable. (Guzmà ¡n V. Alexander, Pinilla S. Roberto Valero R. Luis, 2000, pp. 71-72). Esta canasta esta conformada por las vite acciones de mayor frecuencia de transaccià ³n en el mercado durante los à ºltimos dos aà ±os o 48 quincenas anteriores a la quincena correspondiente a la fecha del calculo. Su fecha base de calculo es el dà ­a dos de enero de 1991. Para su cà ¡lculo se multiplica el à ºltimo precio de cada accià ³n por un peso de ponderacià ³n. La sumatoria de estos veinte productos constituye el valor del à ­ndice del dà ­a. La ponderacià ³n es necesaria para minimizar la diferencia entre el precio real de una accià ³n y su valor calculado a partir del à ­ndice. Es importante advertir que todas las acciones tienen un valor nominal y mercados diferentes, que en algunos casos difieren en gran proporcià ³n. La ponderacià ³n tambià ©n es necesaria para que la participacià ³n de cada accià ³n dentro del à ­ndice guarde cierta proporcionalidad con su importancia en el mercado. La ponderacià ³n se basa en la cantidad de acciones negociadas de cada empresa en los à ºltimos tres meses. Este modelo se basa en ajustes quincenales de los pesos de ponderacià ³n y se cuenta con mecanismos matemà ¡ticos de ajuste para disminuir cambios bruscos en los pesos de ponderacià ³n de las acciones. El objetivo de estos ajustes busca que los cambios en el indicador obedezcan en mayor parte a cambios en los precios en las acciones. El modelo tiene en cuenta los cambios en el valor nominal de las acciones (Split) y la adicià ³n o retiro de compaà ±Ãƒ ­as. Para este caso se debe reprocesar la informacià ³n histà ³rica de tal suerte que siempre sea comparable. No incluye en su cà ¡lculo correcciones por aumento de acciones en circulacià ³n. Su presentacià ³n en el mercado se hace diariamente junto con la grafica del comportamiento de los à ºltimos dos meses y de las à ºltimas cincuenta semanas. Su cà ¡lculo se efectà ºa para tres sectores tres subsectores de actividad econà ³mica. (Pinilla S. Roberto â€Å"y otros†, 2000, pp. 73-74). TIPOS DE à NDICES BURSà TILES: 1. Capitalizacià ³n Bursà ¡til: Pretende reflejar el comportamiento en los precios de las acciones del à ­ndice, ponderando cada especie dentro de este de acuerdo con el tamaà ±o de la compaà ±Ãƒ ­a en tà ©rminos de capitalizacià ³n bursà ¡til: Capitalizacià ³n Bursà ¡til: Corresponde al valor total del patrimonio de una empresa, segà ºn el precio al que se cotizan sus acciones. Capitalizacià ³n Ajustada: Proporcià ³n de la compaà ±Ãƒ ­a, diferente de lo que se encuentra en manos de inversionistas con interà ©s de control (Flotante). 2. Liquidez o Rentabilidad: El objetivo de este tipo de herramientas es representar el comportamiento en los precios de las acciones de un à ­ndice, dà ¡ndole un peso a cada especie de acuerdo a sus niveles de liquidez. 3. Precios: Los à ndices de precios radican su metodologà ­a de cà ¡lculo en la sumatoria aritmà ©tica de los precios de las acciones que componen la canasta. Estos à ­ndices no son tan comunes y su funcià ³n es particularmente las mismas descritas en los casos anteriores. BVC, à ndices Bursà ¡tiles. Extraà ­do el 17 de noviembre de 2009 desde http://www.bvc.com.co/pps/tibco/portalbvc/Home/Mercados/descripciongeneral/indicesbursatiles INDICE ACCIONARIO IGBC El à ­ndice General de la Bolsa de Colombia mide de manera agregada la variacià ³n de los precios de las acciones mà ¡s representativas del mercado. El objetivo principal es representar las variaciones del conjunto de acciones mà ¡s transadas de una manera fiel, de tal forma que cumpla el requisito de replicabilidad, es decir que a partir del mismo se pueda conformar un portafolio con las acciones del à ­ndice, base fundamental para la construccià ³n de productos derivados. El à ­ndice general se calcularà ¡ en cada instante de las negociaciones, y el valor definitivo del dà ­a serà ¡ calculado 30 minutos despuà ©s del cierre del mercado. Asobancaria, Extraà ­do el 18 de Noviembre de 2009 desde http://www.asobancaria.com/glosario.jsp?accion=2id=28 INDICE ACCIONARIO DE CAPITALIZACION BURSATIL (COLCAP) COLCAP es un indicador que refleja las variaciones de los precios de las 20 acciones mas liquidas de la (BVC), donde el valor de Capitalizacià ³n Bursà ¡til ajustada de cada compaà ±Ãƒ ­a determina su nivel de ponderacià ³n1. I k (t )= E Wi Pi (t ) i Capitalizacion Ajustada: Se determina como el porcentaje de la compaà ±Ãƒ ­a que no se encuentra en poder de accionistas con situacià ³n de control dentro de la compaà ±Ãƒ ­a. Una compaà ±Ãƒ ­a entre mayor capitalizacià ³n ajustada tenga, mayor serà ¡ su participacià ³n en el à ­ndice. Siendo la mà ¡xima participacià ³n el 20%. INDICE ACCIONARIO DE LIQUIDEZ (COL20) COL20 es un indicador de rentabilidad o de liquidez que refleja las variaciones de los precios de las 20 acciones mas liquidas de la (BVC), donde el nivel de liquidez de cada compaà ±Ãƒ ­a determina su ponderacià ³n. BVC, Extraà ­do el 17 de noviembre de 2009 desde http://www.bvc.com.co/pps/tibco/portalbvc/Home/Mercados/descripciongeneral/indicesbursatiles?com.tibco.ps.pagesvc.action_Edicion.pdf Tabla 1 IGBC COL20 COLCAP TIPO DE INDICE Liquidez Liquidez Capitalizacià ³n Bursà ¡til SELECCIÓN CANASTA Liquidez: Variables Definidas Liquidez : A travà ©s de una Funcià ³n de Liquidez PONDERADOR Nà ºmero de acciones transadas Nivel de liquidez Nà ºmero de acciones determinadas en el à ºltimo aà ±o como Capitalizacià ³n Ajustada NO DE ACCIONES Variable 20 20 ACCIONES POR EMISOR Segà ºn el numero de especies seleccionadas Un solo emisor agregado Un solo emisor agregado PARTICIPACION No hay limite 20% 20% MAXIMA POR EMISOR REBALANCEO Trimestral Trimestral Trimestral Tomada de BVC elaborada por el autor LA BOLSA DE TOKIO . Es la segunda bolsa de valores mà ¡s grande del mundo y està ¡ destinada a la negociacià ³n en exclusiva de las acciones y valores convertibles o que otorguen derecho de adquisicià ³n o suscripcià ³n. Los principales à ­ndices de la Bolsa de Tokio son el Nikkei 225, à ­ndice de compaà ±Ãƒ ­as elegidas por el Nihon Keizai Shimbun (el perià ³dico de negocios mà ¡s grande de Japà ³n), el TOPIX y el J30 (à ­ndice de grandes compaà ±Ãƒ ­as industriales). El sistema de negociacià ³n utilizado se denomina CORES (Computer assited Order Routing and Execution System). * 15 de mayo de 1878 La Bolsa de Tokio es fundada. * 1 de junio de 1878 Comienza el comercio. * 30 de junio de 1943 11 bolsas en todas partes de Japà ³n (Incluyendo al TSE) fueron unificadas en una corporacià ³n casi-pà ºblica al servicio de los intereses industriales y militares del imperio. * 10 de agosto de 1945 El empeoramiento de las condiciones de guerra y los ataques aà ©reos a la isla principal de Japà ³n, forzaron al mercado de valores a suspender sus sesiones de comercio sobre todos los mercados de valores. * Segunda Guerra Mundial Despuà ©s de la Segunda Guerra Mundial, en marzo de 1947, se promulgà ³ la Ley de Valores y Mercados japonesa que es el marco regulador actual. * 16 de mayo de 1949 Se reinician las sesiones comerciales tras la guerra, bajo el patrà ³n regulador adoptado en 1947 por la Bolsa de Tokio. * 1971 La bolsa de Tokio adoptà ³ el sistema de anotaciones en cuenta para acciones. * 1973 Se determina la seccià ³n de accià ³n extranjera. * 1982 Introduccià ³n del sistema CORES (Computer assited Order Routing and Execution System), con lo que comenzà ³ la transformacià ³n del mercado de corros en el mercado informà ¡tico que conocemos hoy, uniendo los cinco mercados japoneses en un moderno mercado continuo. Formas de negociacià ³n: Fijacià ³n del precio La Bolsa de Tokio, como cualquier otro mercado de valores del mundo, tiene como cometido poner en contacto oferta y demanda con el fin de establecer precios competitivos. Y para alcanzar este objetivo las diferentes bolsas recurren a distintos mecanismos y formas de negociacià ³n. En la TSE, podemos distinguir tres â€Å"reglas de juego† diferentes, de acuerdo al momento y las condiciones que se està ©n dando. Estas tres formas son: Itayose, Zabara y las subastas. * Itayose: Este sistema su utiliza para fijar precios de apertura y cierre de cada una de las dos sesiones diarias y para fijar el nuevo precio inicial tras una parada de negociacià ³n (trading hault). El à ºltimo caso en que se usa es para fijar un precio tras una cotizacià ³n especial (special quote).Bajo este sistema todas las à ³rdenes que se introducen en el libro registro de anotaciones se tratan como simultà ¡neas, es decir que se suprime la prioridad de tiempo. Como se calcula este precio de equilibrio, es algo que viene determinado por el volumen agregado de à ³rdenes de compra y venta que existen. De hecho, el precio que resulta de una negociacià ³n con el mà ©todo Itayose serà ¡ aquel que equilibre en mayor medida oferta y demanda, ejecutando las à ³rdenes de compra/venta con precios superiores/inferiores al de equilibrio. * Zaraba: Es el mà ©todo de fijacià ³n de precios que se usa en la negociacià ³n continua de la sesiones. Es la ejecucià ³n habitual de las à ³rdenes de oferta y demanda tras la fijacià ³n del precio inicial.A medida que nuevas à ³rdenes llegan al libro registro, estas se agregan a las ya existentes y se ejecutan si procede, o se almacenan en espera de ser ejecutadas. * Subastas (ToSTNeT-1 y ToSTNeT-2): Estos dos mecanismos fueron introducidos en 1997 y 1998 respectivamente y son bà ¡sicamente sistemas electrà ³nicos de negociacià ³n en subastas y tienen como fin facilitar el comercio de grandes volà ºmenes de acciones. Este tipo de negociacià ³n esta restringida a las acciones domà ©sticas. Para estas negociaciones existen tres sesiones diarias: 8:20-9:00AM, 11:00-12:00PM y de 15:00-16:30PM. Liquidacià ³n y compensacià ³n Las tareas de compensacià ³n y liquidacià ³n resultantes de las operaciones de mercado, son llevadas a acabo por dos empresas independientes. La compensacià ³n, es decir, el balanceo individual de cada agente que determina la cantidad de acciones que al final de la jornada compra, vende y guarda, lo realiza la corporacià ³n JSCC o Japan Securities Clearing Corporation. Esta empresa es comà ºn a las seis bolsas niponas, ya que las seis està ¡n interconectadas. Por lo tanto, su trabajo es determinar los saldos y movimiento de acciones entre las diferentes partes y agentes y transmitir esa informacià ³n a los liquidadores. La liquidacià ³n es el traspaso efectivo, el cambio de manos, de unos individuos, (vendedores) hacia otros (los compradores). Las funciones propias de la liquidacià ³n son llevadas a cabo por la empresa JASDEC o Japan Securities Depository Center. Inc. Y estas funciones son: * Custodiar los saldos de acciones de los agentes participantes, y ejecutar las transferencias de unos a otros de acuerdo a las anotaciones en cuenta y a la informacià ³n que le suministra l JSCC. * Otorga los permisos para la posesià ³n directa de acciones. * Eliminar los riegos de comportamiento oportunista inherentes al intercambio. * Asegurar el crà ©dito de los participantes. Establecer garantà ­as en caso de incumplimiento o impago. Paternoster Square. LSE ocupa el edificio de la derecha. LA BOLSA DE LONDRES (London Stock Exchange-LSE) es la bolsa de valores localizada en Londres, Inglaterra. Fue fundada en 1801, y actualmente es una de las bolsas de acciones mà ¡s grandes del mundo. Muchos de sus valores son internacionales pero cuenta tambià ©n con numerosos valores de compaà ±Ãƒ ­as brità ¡nicas. Sus actuales instalaciones està ¡n situadas en Paternoster Square, cerca de la catedral de San Pablo, en la ciudad de Londres. Origen del comercio de valores El comercio de valores comenzà ³ para financiar dos viajes: el intento de la Compaà ±Ãƒ ­a de Moscovia de llegar a China cruzando el Mar Blanco al norte de Rusia, y el viaje de la Compaà ±Ãƒ ­a Brità ¡nica de las Indias Orientales a la India. Al no ser capaces de financiar tan costosos viajes con su propio capital, las compaà ±Ãƒ ­as recaudaron dinero vendiendo parte de sus valores a mercaderes, concedià ©ndoles a cambio una parte de los beneficios de la compaà ±Ãƒ ­a. La idea pronto tomà ³ fuerza y se calcula que para 1695 habà ­a mà ¡s de 140 empresas que comerciaban con sus propias valores. El comercio de valores se concentrà ³ principalmente en una zona de Londres llamada Exchange alley o Change alley, que era un pequeà ±o callejà ³n de una zona residencial de Londres. Dicha zona concentraba numerosos cofee shops, y principalmente en dos de ellos se centrà ³ el comercio de acciones: el Jonathans y el Garraways. El broker John Castaing publicaba una lista del precio de los valores a la que llamaron El curso del intercambio y otras cosas en dichos cofee-shops. Licencias para los brokers Algunos brokers, usando informacià ³n confidencial que no estaba al alcance del pà ºblico, realizaban prà ¡cticas poco à ©ticas. Para evitar este tipo de sucesos, en 1967 se creà ³ una ley que obligaba a todos los brokers a adquirir una licencia y a jurar un pacto en el que indicaban que serà ­an justos y legales en la compra-venta de valores. El South Sea Blue El Change Alley prosperà ³ durante varios aà ±os, aunque esto cambio cuando sufrià ³ un revà ©s en el aà ±o 1720. Habà ­a una empresa llamada el South Sea Blue, que habà ­a sido creada entre el Gobierno y John Blunt. Dicha empresa habà ­a causado una gran excitacià ³n entre los brokers. La empresa llevaba nueve aà ±os no siendo rentable, y el Gobierno quiso vender valores para poder hacer frente a la deuda acumulada. Los valores salieron a subasta a 128 £, pero rà ¡pidamente alcanzaron el valor de 1050 £ en apenas 6 meses. La burbuja inevitablemente explotà ³, haciendo caer los valores a 124 £. El suceso creo un clamor popular, lo que obligà ³ al gobierno a modificar la legislacià ³n para prevenir futuras burbujas como à ©sta. El mercado de valores tardà ³ mucho tiempo en recuperarse de este evento. Threadneedle Street y Capel Court El cofee-shop Jonathans se quemà ³ en 1748, y si aà ±adimos el creciente hacinamiento en la zona del Change Alley, provocà ³ que los brokers construyeran un nuevo Jonathans en la calle Threadneedle Street, y empezaron a cobrar por la entrada. El edificio rà ¡pidamente cambio su nombre por Bolsa de valores, y en 1801 volvià ³ a cambiar su nombre a Habitacià ³n de subscripcià ³n de valores tras entrar en vigor la nueva legislacià ³n. Aun y todo esto no parecà ­a suficiente, por lo que se trasladaron al recià ©n construido Capel Court. La bolsa se recuperà ³ cerca del aà ±o 1820, con el crecimiento de las industrias del ferrocarril, minerà ­a, canales y seguros. Rà ¡pidamente empezaron a crearse otras bolsas a lo largo del reino unido, y se aà ±adià ³ el comercio de bonos a la de los valores. Lema Su lema fue creado en 1923. En latà ­n es Dictum meum pactum, que se puede traducir como â€Å"Mi palabra es mi pacto†,[1] haciendo referencia a que habà ­a que cumplir con lo que cada uno habà ­a dicho BOLSA DE VALORES DE NEW YORK La Bolsa de Valores o Bolsa es una organizacià ³n financiera donde las mercancà ­as de las compaà ±Ãƒ ­as y otros valores son negociados. Los valores negociados enla bolsa incluyen acciones emitidas por las compaà ±Ãƒ ­as, unidades de consorcios y bonos o certificados de inversià ³n. En el foro de la Roma antigua ya existà ­a una prà ¡ctica similar al mercado bursà ¡til. Hasta 1487, el comercio a travà ©s de documentos se realizaba en exteriores, en las calles y aceras. Entonces, en la ciudad de Brujas, actualmente Bà ©lgica, la casa de Van Der Bursen comenzà ³ a utilizarse como locacià ³n diseà ±ada para la negociacià ³n de mercancà ­as. La Dutch East India Company fue la primera compaà ±Ãƒ ­a que emitià ³ acciones y bonos en 1602 en la bolsa de cambio de Amsterdam. La bolsa de cambio de Londres se establecià ³ en la ciudad en 1690. Los mercados bursà ¡tiles de Parà ­s y Nueva York no se crearon hasta el siglo XVIII. El celebrado Wall Street, en Manhattan, abrigà ³ el centro de operaciones de la Bolsa de Valores de Nueva York en 1792. La Bolsa de Valores de Nueva York (New York Stock Exchange, NYSE) junto a NASDAQ (North American Securities Dealers Automated Quotations) y AMEX (American Exchange) son probablemente los à ­ndices de intercambio mercantil mà ¡s importantes del mundo. La crisis mà ¡s importante del mundo capitalista ocurrià ³ el 29 de Octubre de 1929. La Bolsa de Valores de Nueva York tenà ­a 13 millones de acciones para vender pero solo un pequeà ±o grupo de compradores. Consecuentemente, los precios de las acciones cayeron generando un caos catastrà ³fico enla bolsa de Nueva York. Miles de bancos, industrias y compaà ±Ãƒ ­as rurales se fueron a la bancarrota y al menos 12 millones de norteamericanos quedaron sin empleo. Tratando de enfrentar la crisis, los Estados Unidos redujeron fuertemente las compras en el extranjero y suspendieron todos los prà ©stamos internacionales, extendiendo la crisis por todo el mundo. En los à ºltimos 50 aà ±os, sin embargo, las grandes corporaciones han dominado la economà ­a americana y han asumido dimensiones globales (GMC, Coca-Cola, General Electric, Ford, Exxon, IBM, Microsoft, ATT, etc.) Debido a la competencia y para complacer a la gente comà ºn, las corporaciones han creado la posibilidad de que cualquier americano pueda comprar acciones. En la actualidad, mà ¡s del 60% de las familias americanas reservan una parte sustancial de sus ahorros para invertirlos en mercancà ­as y acciones. La Bolsa de Nueva York (New York Stock Exchange, NYSE, en inglà ©s) es el mayor mercado de valores del mundo en volumen monetario y el primero en nà ºmero de empresas adscritas. Su masa en acciones fue superada por la del NASDAQ [1] durante los aà ±os 90, pero el capital de las compaà ±Ãƒ ­as listadas en la NYSE es cinco veces mayor que en el NASDAQ. La Bolsa de Nueva York cuenta con un volumen anual de transacciones de 21 billones de dà ³lares, incluyendo los 7,1 billones de compaà ±Ãƒ ­as no estadounidenses. Sus antecedentes se remontan a 1792, cuando 24 comerciantes y corredores de Nueva York firmaron el acuerdo conocido como Buttonwood Agreement, en el cual se establecà ­an reglas para comerciar con acciones. Fue creada en 1817, cuando un grupo de corredores de bolsa se organizaron formando un comità © llamado New York Stock and Exchange Board (NYSEB) con la finalidad de poder controlar el flujo de acciones que en aquellos tiempos se negociaban libremente y principalmente en la acera de Wall Street. En 1863 cambià ³ de nombre por el de New York Stock Exchange (NYSE), nombre que conserva hasta nuestros dà ­as, y se establece en Wall Street esquina con Broad Street dos aà ±os despuà ©s. En 1918, despuà ©s de la Primera Guerra Mundial, se convierte en la principal casa de bolsa del mundo, dejando atrà ¡s a la de Londres. El jueves 24 de octubre de 1929, llamado a partir de entonces el Jueves Negro, se produjo una de las mà ¡s grandes caà ­das en esta bolsa, que producirà ­a la recesià ³n econà ³mica mà ¡s importante de los Estados Unidos en el siglo XX, la Gran Depresià ³n. Actualmente es administrada por el NYSE Group, que fue formado con la fusià ³n de NYSE y Archipielago Holdings, una bolsa de valores electrà ³nica. NYSE Group cotiza actualmente en su propia bolsa de valores. En 2007 formà ³ junto a la bolsa europea Euronext: NYSE Euronext. SISTEMA FINANCIERO COLOMBIANO Composicià ³n Se Compone principalmente de instituciones financieras (bancos, corporaciones financieras) y las entidades de control (Superintendencia Bancaria) en funcià ³n de la captacià ³n de recursos (el ahorro) del publico. Tambià ©n se puede decir que hace parte del sistema, la financiacià ³n que se otorga a los emisores de valores a trabes del mercado publico de valores colombiano. Por lo tanto se reconoce la participacià ³n de los comisionistas de bolsa y la superintendencia de valores. 1. Marco Regulatorio La constitucià ³n polà ­tica faculta al congreso de la Republica, para que este expida leyes de carà ¡cter general en las cuales se indiquen los objetivos y criterios a los cuales debe sujetarse el gobierno al momento de expedir las normas que regulan las actividades financieras y bursà ¡tiles. La superintendencia Bancaria y la superintendencia de valores entidades que pertenecen a la rama ejecutiva del poder publico pero con facultades reguladoras en virtud del fenà ³meno de â€Å"deslegalizacion†, contante expide circulares y resoluciones que regulan el detalle de la actividad financiera. El Banco de la Republica como autoridad monetaria y cambiaria por expresa disposicià ³n expide las normas referentes al encaje de las tasas de interà ©s y de igual forma las normas cambiarias. La primera por obligacià ³n aplicable a los establecimientos de crà ©dito con relacià ³n a la restriccià ³n de circulante y la segunda en desarrollo de su labor de intermediario del mercado cambiario. Sistema financiero en le cual en el cual hacen parte varias instituciones financieras, com

Investigation into elastic potential energy :: essays research papers fc

Why and What I hope to achieve: I believe that the purpose of doing this is to allow me to demonstrate my understanding of Elastic potential energy. And the projectile concepts of the effect of changing potential into kinetic energy and for me to demonstrate my ability to apply elastic potential energy to a scientific investigation. What am I going to do and what will it prove: I am going to use an elastic band and release it from different tensions I will then measure how far it ‘flies’. Doing this will tell me the relationship between force, potential energy and kinetic energy. My Prediction: I predict that the further I pull the band back the further it will ‘fly’. This is based on the fact that the more tension involved means that the potential energy is greater therefore the kinetic/moving energy will also be greater. Variables: Force to pull the band back. This will be between 3 and 11 Newton’s. Equations: Distance = Speed Time Speed = Time   Ã‚  Ã‚  Ã‚  Ã‚   Distance Time = Distance   Ã‚  Ã‚  Ã‚  Ã‚   Speed I also have Equations for EPE in my research. Method: 1)  Ã‚  Ã‚  Ã‚  Ã‚  Attach an elastic band to the hook on the end of a Newton metre and stretch the band until the Newton metre reads three Newton’s 2)  Ã‚  Ã‚  Ã‚  Ã‚  Then Release the band and see how far it flies. 3)  Ã‚  Ã‚  Ã‚  Ã‚  Measure using a metre stick how far the band has travelled. 4)  Ã‚  Ã‚  Ã‚  Ã‚  Repeat this same test three time in order to gather and average later on. 5)  Ã‚  Ã‚  Ã‚  Ã‚  The repeat this test using forces of 5, 7, 9 and 11 Newton’s. 6)  Ã‚  Ã‚  Ã‚  Ã‚  Remember to repeat each test on each force three times. 7)  Ã‚  Ã‚  Ã‚  Ã‚  Then collect the mean average using the results you received from repeating each of the tests. Fair Test: I will make sure this is a fair test by:  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Using the same band each time  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Using the same height at which to release the band  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Repeat each test three times so that we gat a reasonable result and in the case of getting a ‘freak’ result I will repeat that test.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Same place – Draught’s, heat  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Same angle when band is released Things to take into account:  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The band will ‘age’ therefore losing some of its elasticity and tension.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  If it didn’t hit the ground it would probably go further.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Use the same Newton metre and have the same person reading it.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  There might be a breeze of wind of some sort either flowing with the band or against it.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Temperature of room  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Any possible obstructions or anything else that make effect the general momentum e.g. Doors opening windows being open or shut.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Angle, position and height you release the band from.

Compassion Fatigue Essay -- Health, Nursing

Title compassion fatigue According to Taylor (2008) the definition of nurse is from the meaning of the Latin word nutrix, which means â€Å"to nourish†. Nursing has a focus of caring for every patient physically, emotionally, socially and spiritually. To meet the needs of every patient, nurses must take on many roles, but the main role being care giver (Taylor, 2008, p.14). Caring for another person requires many traits, and the most common is compassion. The definition of compassion is â€Å"sympathetic consciousness of another’s distress with a desire to alleviate it† (Merriam-Webster dictionary, 2011). Compassion and the desire to nourish may have been deciding factors that would lead one to pursue a career in nursing. Nurses over the span of their career will have extensive exposure to trauma, pain and unfortunate situations. Workplace stressors such as scheduling and increasing workload along with repeated exposure to the hardships of others predisposes caregivers, especially nurs es, to develop a unique type of burn out labeled compassion fatigue (Joinson 1992). Compassion fatigue develops when a nurse unintentionally takes on the misfortune, anxiety, pain and trauma of the patients they care for. It is a negative emotional and physical response to the unfortunate situations that can arise in the profession of care giving. The â€Å"detrimental effects can include exhaustion, an inability to focus and a decrease in productivity, as well as unhappiness, self-doubt and loss of passion and enthusiasm† (Lester, 2010, p. 11). Compassion fatigue will develop suddenly versus burnout which develops gradually (Boyle, 2011, p. 9). This abrupt onset of symptoms will hinder the nurse’s ability develop a trusting and therapeutic relationship with... ...nate in their work and genuinely care for their patients, but to do this they must set professional and personal boundaries and be aware of the effect pain; trauma and death may have on their lives. According to Bush (2009), nurses must learn forgiveness and love themselves to prevent and overcome compassion fatigue. â€Å"Nurses should treat themselves with the empathy and compassion that they give others† (Bush, 2009, p. 27). Nurses should take time to nurture themselves by maintaining a healthy lifestyle and diet. They should also continue to participate in activities that they enjoy, get plenty of rest, and have a sense of self-awareness throughout their career. Additional resources are available to any caregiver to educate themselves on compassion fatigue at The Compassion Fatigue Awareness Project’s web site at http://www.compassionfatigue.org/index.html.

African Americans in McMillen’s Dark Journey: Black Mississippians in t

Plight of the African Americans After Reconstruction in Neil McMillen’s Book, Dark Journey: Black Mississippians in the Age of Jim Crow Neil McMillen’s book, Dark Journey: Black Mississippians in the Age of Jim Crow categorically examines the plight of African Americans living in Mississippi during the era of Jim Crow. McMillen, a professor at the University of Southern Mississippi, describes the obstacles that African Americans dealt with in the fields of education, labor, mob violence, and politics. Supplementing each group with data tables, charts and excerpts from Southern newspapers of the day, McMillen saturates the reader with facts that help to understand the problems faced by black Mississippians in the years after Reconstruction. McMillen begins by tracing the roots of segregation in Mississippi beginning with common law and later evolving into state sponsored apartheid with the Plessey v. Ferguson decision and the new state constitution of 1890. The need for separation between the races arose out of feelings of â€Å"negrophobia† that overcame the white citizens of the South during the period of Jim Crow. Negrophobia was an overwhelming fear by white males in the South that if the races were in close proximity of each other the savage black men would insult the heavenly virtues of Southern white women. As a result black boys in Mississippi learned at an early age that even smiling at a white woman could prove dangerous. Although segregation was vehemently opposed by Black leaders when it was first instituted, by the 1890’s leaders such as Booker T. Washington began to emphasize self-help over social equality. The fact that Mississippi’s institutions were segregated lead to them being inh erently unequal, and without a... ...ing the life of African Americans during the Jim Crow era into specific categories McMillen made it easier for the reader to understand how the Jim Crow laws governed every aspect of Blacks lives. I especially found the section on mob violence interesting. It is amazing to me how brutal and inhuman some whites could be only eighty years ago. The only criticism I had of Dark Journey was that McMillen did not discuss the strong religious convictions of many Black Mississippians and how they used their faith to help them deal with the trauma of Jim Crow. However in the end by examining the lives of blacks after reconstruction this book has amazed me by showing me how far the South and Mississippi has come in such a relatively short period of time. Work Cited: Neil R. McMillen. Dark Journey: Black Mississippians in the Age of Jim Crow Illini Books edition, 1990

Are Liberty and Equality Compatible?

â€Å"Two Concepts of Liberty† defined the distinction between positive liberty and negative liberty. He defined positive liberty as the ability to fulfill one own potential. This Is typified by the phrase â€Å"l am my own master†. For example, if I really want to become an economist, then I would be positively free if not discouraged. Negative liberty is defined as â€Å"freedom from external constraint†. The Implications of Positive and Negative Liberty A sketch by Eddie Izard entitled â€Å"Cake or death†4 offers to people exactly that. We might think that be fully free but even the most ardent of fitness fanatics would of course pick cake. Alternatively, a feared, violent and ruthless highwayman offering you â€Å"your money or your Life†5 may illustrate the point.Assuming that we know the highwayman not to be bluffing, not even Scrooge himself would keep his money. Whilst the above two examples are possible to envisage, It Is clear that they a re not part of your average society and a more realistic example may be prudent. Many prostitutes can and do hate their jobs, however, they often have no alternative to it, even when not forced to do so. There are several reasons why a prostitute would continue to remain in the trade. A study by London South Bank University identified 9 barriers to exist including drug addiction, lack of education and social stigma.The implications are that we are sometimes faced with decisions where there is only one legalistic possible option. Indeed, a determinist would go as far to argue that we are faced all the time with decisions where there is only one possible outcome and we do not have free will at all and everything is – in principle – predicable. It is clear that we cannot mean free to mean negatively free. However, the argument that freedom Is possible becomes much less tenuous when one considers being positively free.It Is defined as the ability to maximize one's potentia l, given the current state of resources available to people. â€Å"Positive liberty Is the possibility of acting ? or the fact of acting ? in such a way as to take control of one's life and realize one's fundamental teacher, then he would be positively free if he is able to realism his aims. In short, he is able to maximize his potential. A misconception of Equality Some of the more pedantic among us could argue that equality is possible. Certainly in areas such as mathematics this is true. A simple example such as 8 +7=1 5 shows that equality can exist.However, it is very clear that this is not what one means by equality in this sense. Many would assume that perhaps equality should be defined then as the equal allocation of resources. However, in the context of animal ethics, Peter Singer argued that it this kind of equality is impossible and should not be defined as such; it seems impractical and perhaps immoral for this to be the case. â€Å"Humans have interests in mountain-cl imbing and skiing, in seeing the world and sampling different cultures. Cows like lush pasture and shelter from harsh weather.Hence to deny humans the right to travel from outside Devon would be to restrict their rights significantly; it would not be a significant restriction for the rights of cows. â€Å"8 However, to avoid complications, we shall not concern ourselves with the epic of equality between animals and humans. Despite this, it can still be applied in the context of between Just humans. For example, it is impractical or pointless to grant women the right to prostate examinations or to equally allocate cricket bats among footballers and cricketers alike. A critique of Singer's claim above could be done by using the following simple example.Imagine two people, Sam and Simon. Sam inherited a large estate, and is very wealthy, despite a lack of talent, determination or ambition. Alternatively, Simon despite being talented and ambitious received a poor quality of education a nd comes from a low income family. Although Singer has debunked the argument that equality means the equal allocation of resources, to many this would still seem unfair. However, Singer offers a counter proposal where the impetus of his argument is equal consideration. This is a broadly abstract term but can be applied to many contemporary and relevant examples.For example, laws regarding maternity and paternity leave or resolving conflict between settlers to an area and to indigenous people. Most significantly, Singer's example could be applied in the context of macroeconomics, in that whilst equality is not honeymoon with social mobility and meritocracy, it can work in close conjunction with the two. State of Nature Before examining the compatibility of the two in a society, it seems prudent to examine whether the two can be compatible without a society, in a State of Nature and synonymous to many as a dyspepsia.A state of nature is a hypothetical thought experiment designed to in vestigate what a pre-societal life would be like for people. In his Leviathan, Thomas Hobbes posited the claim that, â€Å"a free man is he that in those things which by his strength and wit he is able to do is not hindered to do what e hath the will to do†9, alluding to liberty in its negative sense. He argued, that in the state of nature, liberty did not exist, because actions were hindered by fear of death and fear of the power of others. Despite saying that freedom can only truly exist under a sovereign, Hobbes alludes to liberty in the negative sense.Indeed, others have interpreted his works for people However, people are free in that they interpretation of his own work seems desperately counter intuitive. However, Hobbes has only discussed how we are not free in the negative sense. However, this may not be the case for positive freedom. We are free to maximize our potential. There is no State or Government to restrict us in any way possible. Hobbes also comments that me n are by nature equal in their powers, as even â€Å"the weakest has strength enough to kill the strongest, either by secret machination, or by confederacy with others, that are in the same danger as himself. 10 One can therefore conclude that humans are free and equal in a State of Nature, an abstract thought experiment. However, this is neither desirable nor permanent. It is a poor quality of freedom and equality in that the standard. In a State of Nature being free and equal means that we are free and equal to be violent against each other and live the â€Å"solitary, poor, nasty, brutish, and short life†1 1 that Hobbes so described.Bringing abstract theory into reality We can establish that these two arguments so that liberty and equality are theoretically possible, however, the question is now is whether these arguments have practical implications. However, what does it mean to be human? Humans are naturally social beings with our own societal friendships, families and relationships. As Hummed pointed out, social contract theory is an unhelpful fiction, because social organization is natural for us is natural. Indeed, a very clear example would be that we all grow up, learn values, language and develop knowledge through parenting, and through social interaction and as a result through discipline, leadership and rules. Therefore, a state of nature must be fiction. Furthermore, equality is referred to as equal consideration, however in a State of Nature, there is no government present to â€Å"equally consider†. Therefore, one has to revert to the equal allocation of resources, and Hobbes argues that resources are shared equally, in that people have roughly the same amount of intelligence, muscle and weaponry.However, the equal allocation of resources is something this thesis is trying to revert from. A Utopia? There are three branches of ethics, utilitarianism, deontological and virtue. And in all three of them liberty and equality are highl y desirable. For example, given that Utilitarianism has its definition coined as â€Å"the maximum amount of happiness for the maximum amount of people†13, and one does not need to Justify for the purposes of this essay that liberty and equality are most often highly desirable in society.It would therefore seem prudent to examine a utilitarianism society, and examine whether liberty and equality may be possible. In Aloud Huxley â€Å"Brave New World†, a caste system is depicted with the inhabitants ranked from alpha through to epsilon. 14 Despite height, appearance and Jobs available being dependent on what class one is, each person is conditioned before birth (though that is an inappropriate word to use) and each class is perfectly content to remain in their class and does not aspire to be of any other class.Many would repulsed by this state – and whilst it seems desperately counter-intuitive, both freedom and equality can be obtained. Indeed, some would consid er the caste system to be not far short of slavery, omitting clearly not very equal. However, equality as equal consideration is allowed for, each individual conditioned with their happiness being viewed in the same equal extent that they are positively free and are able to maximize their potential in their designated class. 15 It seems then that in this example, liberty and equality are compatible.Whilst this fictitious society leaves a lot to be desired, it may be useful to have a look at how this society was reached and see if this can be paralleled in reality. The logical conclusion of capitalism There may be faults with the feasibility of a utopia as well. Huxley assumes that Brave New World is the logical end of capitalism. All activity is aimed at continued consumption, for example the slogan of â€Å"ending is better than mending†16. All obstacles to consumption are removed. Mass production, God and individualism are institutionalized. In order to maintain this freedo m, the means of production must be controlled.Utopia translates from Greek meaning â€Å"no place†. 17 Essentially, it means that it does not exist. While there are certainly parallels with society, this is not how capitalism will end, and this is for four interlinked reasons. Firstly, the notion of illogical mass production of humans is deeply concerning and a vital premise to the Huxley argument. One can quite reasonably assert the claim that this will never happen. Secondly, there is a lack of relationships, in the book the notion of family and parenthood is treated with shock and disdain, and as a result society is equal for the reasons given above.However, the notion of family and parenthood does exist, and this can have drastic consequences for the logical conclusion of capitalism. With nepotism and the accumulation of capital there is a case that there is a shift to patrimonial capitalism. However, this will be discussed in more detail later. But most importantly, the logical conclusion to capitalism does not take into consideration how human beings are not always rational. Long before the term behavioral economics was coined, Huxley assumed that â€Å"Homo Economics†18 would prevail. However, people do not always make decisions that maximize their welfare.A very simple argument will show this point to be correct; this is known as the Gambler's Fallacy. 19 When at a roulette table, people will often assume that if at a table, the roulette wheel has shown to be the color red the previous six times, then it is more likely to e on the seventh spin. However, a simple math experiment with a roulette wheel or a computer will show this to be incorrect, and statistical theory on independence provides the reasoning behind this. Even it were rational to Join this kind of society, the likelihood of this happening is not secure.A Thought Experiment With the exception of a conclusion, the rest of this thesis, will analyses and evaluate reasons why free dom and equality may not be practical in society today. A fully free state shall be assumed, and the question will be posed asking if equality can be produced as a by- product alongside. Finally, the thesis will question the aforementioned assumption in two different ways. The Assumption of a Fully Free State To many this seems like capitalism. However, capitalism is far too broad and can name suggests implies that the state is involved and does not prohibit freedom.Laissez-fairer capitalism might be more prudent as a result. We shall now assume that a fully free state but be one determined by market forces, determined by supply and demand in order for me to be positively free and maximize citizen's potential. The First Reason – How Liberty Upsets Patterns This heading is not original, it is on page 160 of Robert Nicks book â€Å"Anarchy State ND Utopia†, the heading alludes to an often quoted example of a successful basketball called player Wilt Chamberlain, which is pertinent. In this world, everyone earns exactly the same salary and money is distributed evenly.At each home game, he receives 25 cents from every person playing the game. To the customers, this seems reasonable – he is very good at basketball. If one million watch him play during the season, Chamberlain has $250,000. He has more money than someone else. 20 Let us extend the analogy further so that everyone else earns a sum of $25,000 a year. It seems that although Chamberlain may have more money than everyone else it is not a problem, because this equality can include a meritocracy and equality is defined as equal consideration.This might seem Justified because of marginal productivity theory; some would say that Chamberlain works harder and is more productive so he should receive more money than anyone else. However, there are two issues with this theory. The first is that the facts do not support it. As the recession went on bankers such as Fred Goodwin continued to recei ve bonuses, despite bringing banks to their knees. Even though they were worse than useless, hey were still receiving money despite having a negative marginal productivity theory.Despite The Royal Bank of Scotland (RUBS) going bankrupt, Fred Goodwin receives a IEEE,OHO pension from RUBS. 21 Secondly, despite Wilt Chamberlain earning ten times more than everyone else is it true that he works ten times harder in order to achieve his wealth? The answer is most likely no. In essence there is a sense of disproportion to the extent of the meritocracy. There is a clear opportunity cost; no one was forced to watch him play basketball. They could have spent their money on everything as mundane from tea bags to headphones.This presents some issues, he now has far more money than anyone else does, and this to many seems unequal. In the I-J, the staggering sums of money that footballers earn is a proponent in an argument for inequality- how can It be fair that Wayne Rooney earns more in one wee k than the average person earns in 10 years? But this is unequal. The Second Reason – Rent Seeking Economies It is necessary to delineate between two different types of economy, wealth generating and rent seeking.Wealth generating refers to ways of earning money whilst increasing the output of the economy at the same time. A quintessential example would be innovation such as Tyson vacuum cleaners. Rent seeking is defined as â€Å"when a company, organization or individual uses their resources to obtain an economic gain from others without reciprocating any of the benefits back into society through wealth creation. â€Å"22 Here, a useful example would be through a usefully entitled â€Å"The Locust and the Bee†. 23 Here, the locust is analogous to the rent seeking economy and the bee the wealth generating economy.The economist Joseph Zeitgeist has argued that rent-seeking is a large contributor to income inequality in the United States through lobbying for government policies hat let the wealthy and powerful get income, not as a reward for creating wealth, but by grabbing a larger share of the wealth that would otherwise have been produced without their effort. As Paul Grumman points out, most of the richest 1% in the world are generally not the innovators such as Bill Gates or Mark Suckering, but generally those with a much lower marginal productivity, such as Fred Goodwin or C.Douglas McMillan. Furthermore, despite these low marginal productivities, their income, (in America at least) has increased as seen in the graph below. The Third Reason – The Fall of The American Dream? As Josef Zeitgeist points out, Paul Ryan made a speech saying that despite the US Gin coefficient rising, what is really the most significant is equality of opportunity. 24 The question, is can there be equality of opportunity. It is true that the â€Å"Rags to Riches† story as examples well documented across the world with everyone from Will. . Am to Opera Winfred, but as Zeitgeist asserts, the reason they are so well documented is because they are so rare. Given that, the question is do we always have to have an inequality of opportunity, and the answer to that is yes. The first premise that all else rests on is that equality of opportunity must rest on not only a good but equal education. Given that equal opportunity largely manifests itself in a meritocracy. The second premise of the argument is that having an equal education is unattainable.Even if private schools were completely abolished, if money was spent on students exactly proportional to their needs and the best teachers were distributed around the country exactly proportional to where they should be then equality of opportunity may not work for one key reason – chaos theory. The tiniest of changes in an education can lead to drastic consequences, for example, a certain book could be pivotal in attending a place at a prestigious university. Moreover, despite a stand ardized education, differences in education at home are beyond the state's control.The First Critique Of The Assumption However, Zeitgeist says, â€Å"Markets don't exist in a vacuum†25. Indeed, they must be shaped, mainly through the laws of that country. In the USA in the government gave holders of derivatives priority over bankruptcy. This was seen in its bail out of insurer Alga to the tune of $1 ban. This creates a â€Å"heads I win, tails you lose† situation. The first reason why laissez-fairer capitalism does not work is because the way that the market exists is though legislature which undermines what laissez-fairer capitalism sets out to achieve.The Second Critique of the Assumption- The Growth of Capital in the 21st Century The idea that inherited wealth will always grow faster than earned wealth is the main impetus of Thomas Picket's book â€Å"Capital in the 21st Century'. Pickett argues that as captures in the expression r > g, where r is the rate of retu rn to wealth and g is the economic growth rate. Other things being equal, faster economic growth will monish the importance of wealth in a society, whereas slower growth will increase it. However, there are no natural forces pushing against the steady concentration of wealth.Only a burst of rapid growth (from technological progress or rising population) or government intervention can be counted on to keep economies from returning to the â€Å"patrimonial capitalism†. Furthermore, demographics can influence this point. Writes Pickett, â€Å"Consider a world in which each couple has ten children, it is better as a general rule to not count on too much on inherited wealth, because the Emily wealth will divide by ten with each new generation. In such a society the people will have wealth diminished by 10 each generation. 26 Therefore, given that fertility rates are falling all over the world, this means that wealth will be more concentrated in the future. Regardless of the graph below, some people having more money than others can still be equal, and feel that Pickett makes a generalization as a result. However, he argues that people having more money often leads to a fall in social mobility and as a result, increased inequality of opportunity. There is now a event to patrimonial capitalism which is known more informally as crony capitalism.Given how equality is defined as equal consideration and social mobility is key, he argues that not only do some people have more money than others but social mobility is at an all time low. 27 Conclusion It seems that practically, in some form of Utopia akin to â€Å"A Brave New World† or in a State of Nature, the two may both be possible. However, in feasible ideologies, there are impossible. This is because how in a free society, issues. However, the link between equality being defined as equal consideration and equality as the equal allocation of resources is tenuous.The argument of chaos theory may be weak, as people may still be free in that they can maximize their positive liberty in that they can still maximize their potential. Chaos theory only affects the extent to which potential can be reached – not the other way around. In order for this thesis to be stronger, the link between the two warrants further exploration. Perhaps an exploration of Aristotle opinion on equality might be useful to unpick what equality means, as it depends how we look at equality. â€Å"Justice is equality, but only for equals, ND Justice is inequality, but only for those who are unequal†28.This needs further exploration. It seems that practically, in some form of Utopia akin to â€Å"A Brave New World† or in a State of Nature, the two may both be possible. However, in feasible ideologies, these are unlikely. This is because how in a free society, issues. However, the arguments mainly take the form of an inductive argument as shown below. 1. This example (from Nonionic) shows that und er a certain societal ideology the two are incompatible, 2. This example (from Pickett) shows the same 3. Therefore, the two are incompatible This is akin to â€Å"Black Swan Theory', identified by Massif Tale.If one sees a series of the case. Critically, its implications are that no one argument, shows the two to be inversely proportional to each other – for example, as you have more freedom, you get less equality. Whilst the arguments themselves do not prove that as the two are incompatible, they very much support the arguments. Perhaps further discourse is needed to prove – through a deductive argument – that the two are incompatible. Although the simple fact that social mobility is falling, especially as countries become ore and more privatized, implies that the two cannot work together.However, there is a dim ray of hope, as many of the arguments offer suggestions to solutions to solve these problems. Pickett himself proposes a progressive income tax of up to 80% and a global wealth tax of 2%. Furthermore, a 100% inheritance tax is something that others have suggested. 29 On the other hand, these suggestions are highly controversial and are unlikely to be enforced. Whilst, the two are compatible theoretically, on the current trajectory of society, it seems hugely unlikely that liberty will occur in society in the future.

Compare and contrast shopping as a leisure activity of British Culture with that of your own culture Essay

Becoming a foreign student has given me the opportunity of living in two cities at the same time. Living in each city regularly has let me see many similarities and differences between both. In this essay, I will mainly compare and contrast shopping as a leisure activity between United Kingdom and Hong Kong. I will look at the kinds of activities, attitudes towards spending, the view of shops and the opening hours of shops. First of all, both United Kingdom and Hong Kong are consumer societies. People can find all sorts of things to do like shopping in malls or streets. The appearance of the malls in United Kingdom primarily comes from the fact that they feature more than hundreds of stand-alone shops, cafes, restaurants and a huge number of department stores, in which there are wide varieties of types of shops. Moreover, most shops are chain stores, but among those that are not, there is much individuality. (O’ Driscoll, J. 1995 P. 148) The situation of shopping malls is as common in Hong Kong. Both societies, moreover, like buying and selling products through online. Nowadays, the rapid development of the Internet advances the online trading. The customers do not need to walk on the streets, they just have to browse the website of that company and the shop will provide the pictures of the products for you to purchase. For example, the Amazon. com is popular in both United Kingdom and Hong Kong. (Hong Kong Tourism Board, 2012) Despite some important similarities in shopping between United Kingdom and Hong Kong, there are significant differences as well. One obvious difference is the attitude towards spending. The British are not very adventurous shoppers. They like reliability and buy goods that are preferably with the price clearly marked. Of course, they are not very keen on haggling over prices. (O’ Driscoll, J. 1995 P. 148) In contrast, Hong Kong People spend lots of money on buying things they like. Also, people in Hong Kong like to bargain with the sales owner in order to obtain a cheaper price, especially in some market streets and small shops. (Hong Kong Tourism Board, 2012) Other areas of difference are the opening hours of shops. Most shops close early in United Kingdom such as half-past five and shops close a bit later in large cities. In some towns there are even shops shut at midday and do not open again. (O’ Driscoll, J. 1995 P. 149) This is probably because owner needs to take rest after a full day’s work. However, since Hong Kong is a reputed shopping ‘paradise’, it is easy for you to find a shopping mall nearby anytime. (Hong Kong Tourism Board, 2012) Shops open till late at night in Hong Kong because workers tend to earn more money to earn a living and in order to match with those people who need to work late. Unexpectedly, some market streets even open at 2 am. Therefore, people can go shopping whenever they want to. To Hong Kong eyes, the shopping malls seem just like convenience stores. A final difference between United Kingdom and Hong Kong is the view of the shops. Many people are surprised by the shabbiness of shop-window displays, even in prosperous areas in United Kingdom. It is just that the British do not demand art in their shop windows (O’ Driscoll, J. 1995 P. 148), whereas shops in Hong Kong are definitely decorated nicely and drab hoardings and shop signs erupt in numerous shades of neon color. Peering over the balcony was like looking down on a fairground and even the lights of the shops could not compare with the overall view. People say shopping gives a lot of pleasure to citizens. This must be true. Indeed people in both United Kingdom and Hong Kong like to spend their leisure time on doing shopping. Yet there are still many differences based on the topics such as the spending attitudes, shops opening hours and the view of shops.