Being American Liberty, Equality and Republicanism Essay

Being an American cannot simply be defined by skin color, culture, or religion. This nation cannot be defined in a simplistic manner like many other nations. For instance, other countries define themselves by their accent or by the types of food they consume. According to Sarah Song, â€Å"To be or to become an American, a person did not have to be any particular national, linguistic, religious, or ethnic background. All he had to do was to commit himself to the political ideology centered on the abstract ideals of liberty, equality, and republicanism† (31). Therefore, being American simply means having the same views about equality, liberty and republicanism as our American ancestors. Being an American is clearly stated in the Declaration of†¦show more content†¦The idea of equality is usually defined by everyone as the state or quality of being equal. However, according to Thomas Jefferson, in The Declaration of Independence, â€Å"all men are created equal† (n.p). The thought of all men being created as equal is a simple ideology of the past. Now, in America, equality consists of having equal rights and opportunities whether the individual is a male or female. However, today in America, equality has not fully been fully achieved. For instance, we are still experiencing income inequality. According to Peter Finocchiaro, â€Å"Income inequality has grown dramatically since the mid-70s—far more in the US than in most advanced countries† (n.p). Furthermore, â€Å"The top 10 percent of Americans earn nearly three-quarters of all income in the country, leaving the poor with whatever is left† (Finocchiaro n.p). Another inequality in America is racial inequality. For instance, Arizona passed the SB 1020 bill. Nicholas Riccardi stated, â€Å"The bill directs police to determine the immigration status of non-criminals if there is a reasonable suspicion they are undocumented. Immigrant rights groups say it amounts to a police state† (n.p). 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Autobiography of Ruskin Bond - 2057 Words

Life and career Ruskin Bond was born in a military hospital in [Kasauli] to Edith Clerke and Aubrey Bond. His siblings were Ellen and William. Ruskin’s father was with the Royal Air Force. When Bond was four years old, his mother was separated from his father and married a Punjabi-Hindu, Mr. Hari, who himself had been married once. Bond spent his early childhood in Jamnagar and Shimla. At the age of ten Ruskin went to live at his grandmothers house in Dehradun after his fathers sudden death in 1944 from malaria. Ruskin was raised by his mother, who remarried an Indian businessman. He completed his schooling at Bishop in Shimla, from where he graduated in 1952 after having been successful in winning several writing competitions in the†¦show more content†¦His novel, The Flight of Pigeons, has been adapted into the Merchant Ivory film Junoon. The Room on the Roof has been adapted into a BBC-produced TV series. Several stories have been incorporated in the school curriculum in India, in cluding The Night Train at Deoli, Time Stops at Shamli, and Our Trees Still Grow in Dehra. In 2007, the Bollywood director Vishal Bharadwaj made a film based on his popular novel for children, The Blue Umbrella. The movie Works †¢ House †¢ Garland of Memories †¢ The Boy Who Broke the Bank †¢ Bus Stop, Pipalnagar †¢ Funny Side Up †¢ Rain in the Mountains-Notes from the Himalayas †¢ Our trees still grow in Dehra †¢ A Season of Ghosts †¢ Tigers Forever †¢ A Town Called Dehra †¢ An island of trees †¢ The Night Train at Deoli †¢ A Face in the Dark and Other Hauntings †¢ Potpourri †¢ The Adventures Of rusty †¢ The Lost Ruby †¢ Crazy times with Uncle Ken †¢ The Death Of Trees †¢ Tales and Legends from India †¢ Hip Hop Nature Boy and Other Poems Novels †¢ Room On The Roof †¢ Vagrants in the Valley †¢ Scenes from a Writers Life †¢ Susannas Seven Husbands †¢ A Flight of Pigeons †¢ Landour Days – A writers Journal †¢ The Sensualist by Ruskin Bond †¢ The Road To The Bazaar †¢ The Panthers Moon †¢ Once Upon A Monsoon Time †¢ The India I love †¢ The Kashmiri Storyteller †¢ The Blue Umbrella †¢ The TigerShow MoreRelatedRuskin Bond1411 Words   |  6 PagesIntroduction A lot has been written about Ruskin Bond, our very own Indian writer, whose writing s span over 50 years. His versatile, original and elegant style of writing has made him a favourite to readers around the world. Despite Bonds British background, he writes about India as an insider’s perspective. Having lived the majority of his life in India, he knows the country well and writes an authenticity and emotional engagement about the land and the people of the Himalayas and small-town IndiaRead MoreThe Eyes Have It -- by Ruskin Bond1183 Words   |  5 PagesThe Eyes Have It (also known as The Girl on the Train The Eyes Are Not Here) is a short story by Ruskin Bond that was originally published in Contemporary Indian English Stories. The narrator of this story, a blind man whose eyes were sensitive only to light and darkness, was going to Dehradun by train when he met a girl and had a chit-chat with her. It was only after she left and another passenger came into the compartment that the narrator realizes the girl was blind. Up to Rohana, the narratorRead MoreWomen s Rights Of Women1987 Words   |  8 PagesPeriod. In Pre-Independence time, the writers bearing in mind Rabindranath Tagore, Raja Rao, Sir Aurobindo, Swami Vivekanand, M.K. Gandhi, and Jawaharlal Nehru proved their writing notable. Autobiographies, informative articles, novels, prose, poetry are remarkable in Indian English Literature writings of Ruskin Bond, Salman Rushdie, Vikram Seth, and R.K. Narayan give prestigious image to Indian writings in English. Female writers existed with different themes in society. The discrimination in genderRead MorePunjabi9291 Words   |  38 Pagesbut from the perennial wisdom of lndian thought and from such non-modernist Western thinkers as Tolstoy, Ruskin and Thoresu. From the tradition of lndian thought, Gandhi derived the cognitive-evaluative principles of satya (truth) and ahimsa (non-violence or love towards others), which he says should inform our political, economic, scientific and technological a ctivities. I n his autobiography, entitled The Story of My Experiments with Truth, he wrote: 1 t i L Gaadlhu :Evdlltlon and Chmder

Pollution in China Essay Example For Students

Pollution in China Essay Introduction to pollution in chinaAir is a part of all of our lives. Without clean air, nothing we know ofcan exist. The debate over clean air, its regulations, their teammates andopposition, and the economic factors coming into play into this ever-morerecognizable problem is a widespread and ever more controversial one. Likea long countdown to eventual disaster, the pollution effecting our worldhas no doubt made increasingly more impact on our daily lives, and hasincreased the intensity on Washington and other countries to solve theproblem. The Clean Air act is a step in the right direction, but with everyanswer their comes two questions and likewise more and more people takingsides. There have been long debates not over the effectiveness of suchregulations, but the lack of opportunity such regulations and deregulationsprovide for other companies. Global warming has increased the tension overthe economics of cleaner air, but with little the government can do tolimit the use of cars, the production of necessary coal-fired power plantsand other such human resources, the topic just turns into another fog fordebate and argument over stricter regulations and the impeached right thesesources have to operate. The continual power struggle of such economic andsocial issues and the debate over the effectiveness of stricter, present ormore lenient regulations has turned into a smorgasboard of precticalsolutions, with opponents quickly changing minds and becoming supportersand vice-versa. The expenditure of about 20 billion on the part of companies since 1990 toclean up such hazardous pollutants as cars, factories, and thousands ofother measures have reaped about 400 billion in saved hospital costs, lostworkdays, reduced productivity,and other conditions while at the same time theoretically helping to reducesmog and pollution. The findings of a report on experiments done for theClean Air act waspassed into law in 1970. The Enviornmental Protection Agency has recentlycome under attack by critics however, and Washington has threatened to cutthe agencies budget citing high costs of enviornmental legislation, evenwhile their is solid proof that the agencies measures are paying off. Congress is skeptical of reports that the whole system is reaping morebenefits on the enviorment than the whole operation actually costs. Economically, the Clean Air Act is definitly sound and good for theeconomy. For example, American fishermen average $24 billion a year inexpenditures and ultimately generate $69 billion yearly for the economy. Moreover, the average American worker recieves $20 in value in reducedrisks of death, illness, and other adverse effects for every dollar spentto control air pollution. All in all, the country spent roughly $436billion enforcing clean air regulations, and gained about $6.8 trillion inbenefits in 1990. The amounts of harmful chemicals and pollutants in theair has also found to be dramatically reduced since 1970. 40 percent ofsulfer dioxide in the air has been reduced, as well as 30 percent ofnitrous oxide, and 50 percent of carbon monoxide. As well as air, the EPA has produced results in protecting our nationswaterways. For example, the Clean Water Act, which passed in 1972, hassince given states grants of $66 million to help install water sewagetreatment plants. They also found that the act has required the industry toinstall tens of billions of dollars of anti-polltion technology. The effecton the liquid industry has been enormous. Boating sales generate $14billion alone while fishermen produce $3 million, and the nation spends anestimated $35 million anually for fish. .ud037acb2d7a440d820cbb8439e156985 , .ud037acb2d7a440d820cbb8439e156985 .postImageUrl , .ud037acb2d7a440d820cbb8439e156985 .centered-text-area { min-height: 80px; position: relative; } .ud037acb2d7a440d820cbb8439e156985 , .ud037acb2d7a440d820cbb8439e156985:hover , .ud037acb2d7a440d820cbb8439e156985:visited , .ud037acb2d7a440d820cbb8439e156985:active { border:0!important; } .ud037acb2d7a440d820cbb8439e156985 .clearfix:after { content: ""; display: table; clear: both; } .ud037acb2d7a440d820cbb8439e156985 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud037acb2d7a440d820cbb8439e156985:active , .ud037acb2d7a440d820cbb8439e156985:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud037acb2d7a440d820cbb8439e156985 .centered-text-area { width: 100%; position: relative ; } .ud037acb2d7a440d820cbb8439e156985 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud037acb2d7a440d820cbb8439e156985 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud037acb2d7a440d820cbb8439e156985 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud037acb2d7a440d820cbb8439e156985:hover .ctaButton { background-color: #34495E!important; } .ud037acb2d7a440d820cbb8439e156985 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud037acb2d7a440d820cbb8439e156985 .ud037acb2d7a440d820cbb8439e156985-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud037acb2d7a440d820cbb8439e156985:after { content: ""; display: block; clear: both; } READ: The French Revolution Persuasive EssayWater pollution in chinaWastewater pollution has always been a major problem throughout the world. The lack of suitable water used for drinking, agriculture, farming, etc. has declined through the years. With a shortage of water throughout theworld, proper methods of treating and recycling water is the key goal insustaining our limited water resource supply. Geographically speaking, thewastewater pollution within China has affected the environment, society,and agriculture. The water pollution crisis in China has brought up anissue of efficient wastewater treatment methods to help alleviate theirproblems. Throughout this paper, we will discuss the topics on the effectsof wastewater pollution towards the environment and the society (healthfactors, agriculture, economic impacts, etc). The lack of clean water has always been an issue of environmental concernall over the world. This environmental issue is mainly stressed indeveloping countries today. The main sources of water pollution are:industrial (chemical, organic, and thermal wastes), municipal (largelysewage consisting of human wastes, other organic wastes, and detergents),and agricultural (animal wastes, pesticides, and fertilizers) (Broweret.al, 1990). For the past several years, China has been affected with thewater pollution crisis. Three examples of wastewater pollution crisis inChina are the City of Tianjin, the Chao Lakes and Xian City.

Psychoanalysis Essays (552 words) - Freudian Psychology, Psychology

Psychoanalysis Psychoanalysis Sigmund Freud was the first to talk about psychoanalysis, a technique that allows an individual to recount dreams but what psychologists call free association. Free association is the individual saying whatever comes to mind when something is said. Psychoanalysts encourage the unconscious mind to recall scenes, thoughts, and to reconstruct past experiences that have shaped the patients present behavior. Freud states that the personality develops in a series of stages. On the same hand, if we resolve our conflicts that arise during our life as they happen, then psychological problems in the future will not occur. That what we believe are spur of the moment decisions etc. are really influenced by the unconscious. Psychodynamic theories are written in the individual, often outside the conscious mind. Human behavior is based on unconscious instincts. Some are aggressive and destructive while others are thirsting for the necessary tools to survive. In the same breath, he says that sexual instinct is the most critical factor for the development of our personality. According to Freud, personality is formed around these structures: the Id, ego, and the super ego. The Id or instinctual needs is the only structure present at birth and is unconscious. It is the collection of unconscious urges and desires that continually seek expression. The ego is the part of the personality that mediates between environmental demands, which are reality, conscience or superego, and Id. It contains all the thinking and reasoning. Lastly, the super ego is the social and parental standards the individual has internalized or the moral conscience of the brain. This is not present at birth, but developed over a period of time. In conclusion, I feel psychoanalysis is a good way to understand why people do what they do, and how to recognize it and have the ability to change it. Although Freud made this discovery at the turn of the century it is still an effective way to deal with current problems some individuals may have. The article I chose was The Miseducation of the Negro. In this article, the author stated that Negroes are being denied everything relating to black culture in public schools. That they are taught everything from Hebrew to Latin but denied the rest. This article also determines that when talking to certain ?high class? blacks they felt that it was not important to learn about there culture stating that, ?he didn't go to school to waste his time.? When black courses were offered in summer schools etc. they consisted of material perceiving whites as being superior to blacks. It goes on to say that regardless of education a black couldn't make it that far because of the world they are going into. To sum up the article it claims that no matter how hard an African American works they won't get far because they are forced to go back to ?where they came from? which is the group of people considered to be uneducated and unimportant. I do not agree with this article because I believe that blacks can go anywhere they want to go. When the article was written that might have been the case but as the years have went on gradual change has come. With that change, comes more opportunities for educated people in general, and especially for black Americans. Psychology Essays

A review of efficient market hypothesisâ€from the point of view of current financial crisis The WritePass Journal

A review of efficient market hypothesis- from the point of view of current financial crisis 1 Introduction A review of efficient market hypothesis- from the point of view of current financial crisis 1 Introduction2 Overview of EMH2.1 Definition2.1.1 Descriptive Definition2.1.2 Formulated Definition2.2 Main points of EMH2.2.1 Main points from microeconomic perspective2.2.2 The preconditions of EMH2.2 Three Forms Efficient Market and Their Test2.2.1 Weak form efficient market and its test2.2.2 Semi-strong efficient market and its test2.2.3 Strong form efficient market and its tests3 Discussions of EMH from the current Financial Crisis3.1 The Evolution of Current Financial Crisis3.2 What does EMH faces in the financial crisis?3.3 What do we learn from financial crisis?4 ConclusionsBibliographyRelated 1 Introduction Since Fama (1970) published his paper Efficient capital markets: A review of theory and empirical work summarized the basic Efficient Market hypothesis (henceforth EMH) content and the tests based on it, the economics professors has never stopped to debate on it. According to Fama (1969), EMH is an interpretation about how do stock prices relate to the market information. EMH states that the security prices already incorporate and reflect all relevant information. Currently the whole world faces massive financial crisis while EMH and other theories based on it has faced opprobrium and questioning. This paper includes an overview of EMH and discussions about the strength and limitations from point of view of the current financial crisis. There are three parts in this paper. In the first part, I have summarized the EMH including the definition and three forms of efficient markets. In the second part, I have evaluated the strengths, and limitations of EMH from the point of view of current financial crisis. In the third part, I have given my own conclusion about EMH. 2 Overview of EMH 2.1 Definition According to Fama (1969) and Jensen (1978), EMH can be described as the text and mathematic formula as the following. 2.1.1 Descriptive Definition As Fama (1969) has stated, Efficient Market Hypothesis is an interpretation about how do stock prices relate to the market information. EMH means that the security prices already incorporate and reflect all relevant information. So it is impossible to beat the market to obtain extra profit. As Malkiel (2003) described â€Å"Markets do not allow investors to earn above average returns without accepting above-average risks†. 2.1.2 Formulated Definition Jensen (1978) has stated the formulization and model concepts of market efficiency. The joint distribution established based on the information consistent with the joint distribution of future price, the specific formulation is as (1.1). (|)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   (1.1) indicates the joint density function of the correct future prices, while (|) indicates the joint density function of future security prices based on all the available information at the time point t. Then we can rewrite the formula as (1.2). =  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  (1.2). In this formula, indicates the expectation of true yield stock j at the time point t.   indicates the estimated expectation at time point t, which is equilibrium yield. That means the return expectation which is obtained from an economic activity is equal to its marginal cost. That is, when there is no cost of information collection, the return expectation should be 0. 2.2 Main points of EMH 2.2.1 Main points from microeconomic perspective From the microeconomic perspective, EMH is under the assumption of economic man which is from Adam Smith. It means people are rational and self-interest. Similarly, in the stock market, the people who trade stock are also this kind of economic man. In the financial market, every stock represents its company which is under strict surveillance of rational and self-interested people. They conduct fundamental analysis; estimate the companys future profitability to evaluate the companys stock prices, then discount future values to present value, cautiously choose between risk and return trade-offs. EMH shows the balance between demand and supply in markets. For every stock, the number of people who want to sell is equal to those who want to buy, that is, the number of people who think the stock is overvalued is equal to those who think the stock is undervalued. If somebody finds that it is unbalance between those two kinds of people, in other words, if there is a possibility of arbitrage, rational traders will immediately buy or sell stock to make them equal. This is the basic theory of supply and demand in economics. On the one hand, any fluctuation on the prices of commodities is a result of supply and demand changes. On the other hand, prices impact the relationship between supply and demand. 2.2.2 The preconditions of EMH As Fama (1970) has stated the efficient market is based on three preconditions. Firstly, the cost of information is 0. Secondly, the market is perfectly competitive market. Thirdly, all investors are rational. Firstly, according to the definition of Fama, the market is inefficient. Grossman and Stiglitz (1980) have proofed that no cost of information is the sufficient condition for efficient market.This condition exposes on questions on the market structure. It is unrealistic if transaction costs and taxes are 0. On contrary, huge transaction costs may hinder the possibility of arbitrage in real world. That may cause the stock prices do not increase with good information and information is not reflected in the price. The second precondition of EMH is the perfectively competitive market that leads to each investor can accept the price. However, under the situation that information costs exist, there is bargaining behaviour in market. Therefore, the market participants are not price-taker. For the third precondition, investors are rational and they can evaluate the securities rationally. Shleifer (2000) improves the three levels of rational market participants. The investors at the first lev el are perfectly rational. The ones at the second level are even if some of the investors are irrational; their trade generated randomly and can be cancelled out. For the third level, if irrational investors’ behaviour is not random, arbitrageurs can eliminate noise traders influences on prices. Shleifer (2000) has argued that â€Å"With a finite a risk-bearing capacity of arbitrageurs as a group, their aggregate ability to bring prices of broad groups of securities into line is limited†. That suggests the risk-free arbitrage opportunities may exist, but they cannot be the direct evidence of market inefficient. 2.2 Three Forms Efficient Market and Their Test Based on the different types of investment approaches Fama (1970) defined the efficient market to three forms- weak-form efficiency, semi-strong form efficiency and strong-form efficiency. 2.2.1 Weak form efficient market and its test As the description in Fama’s (1970) paper, a weak form efficient market is a kind of market in which the shares’ prices fully reflect the historical information. So in weak form efficient market, investors cannot make a strategy to obtain extra profits through technical analysis. It is useless to analyze historical information to predicted future price, because the current market price has already contained all the information which acquired by technical analysis. The tests for weak form market include two methods. The first is the random walk model while the second is the filter approach. The first method is focus on whether the fluctuation of stock price is random which is first published by Osborne (1959). The filter approach can be described that in an efficient market, if there is no new information released, the price would randomly fluctuate between the resistance lines. 2.2.2 Semi-strong efficient market and its test As Fama (1970) has stated the semi-strong efficient market refers to the market in which the current stocks prices reflect not only historical price information but all available public information related to security companies. If the market is efficient in this sense, then it will not be possible to acquire abnormal profit through the analysis of a companys balance sheet, income statement, changes in dividend, stock split announcement and any other public information. The tests for the semi-strong efficient market mainly focus on determining the speed of share prices adjust to new information. Scholars have conducted a variety of tests. The most famous one is â€Å"Event Study† which firstly published by Ball and Brown (1968). An event study measures the cumulative performance of stock from a specific time before and after information released. The semi-strong efficiency of market attracts a lot of studies to test it. Some empirical studies proof that the US stock market is a semi-strong market. Fama (1969) investigate 115 companies stocks and prove that the US stock market is semi-strong. 2.2.3 Strong form efficient market and its tests As Fama (1970) has stated the strong form efficient market is a market in which the share price reflect all the information includes the inside information. That means in strong form efficient market nobody can obtain abnormal profit even the insiders. The tests of strong form efficient market focus on the company insiders, stock exchange brokers, securities analysts and mutual fund performance, in order to verify whether they can earn extra returns. Some studies have showed that several markets are close to strong form. Maloney and Like several files on the professional investment managers study showed that after deduct the expense of trading, the randomly selected securities and index without conduction were nearly at the same return level with carefully analysis. Mulherin (2003) has conducted the analysis of the Challenger Crash and declared it supports the strong form efficiency. While the other scholars argue that the strong form efficient market will never exit in reality. 3 Discussions of EMH from the current Financial Crisis The following chapter provides analysis of EMH from the point of view of current financial crisis. The first section provides a review of current financial crisis evolution; the second section gives the critical analysis of the challenges that EMH faces, particularly from the view of information dissemination, information quality and the role of self-regulation of stock market; the third section provides suggestions to avoid financial crisis. 3.1 The Evolution of Current Financial Crisis The current financial crisis has root in credit crisis which is a financial storm along with bankruptcy of subprime mortgage lenders, close of investment funds and the turbulence stock market in the United States. As Tylor (2009) has described, the evolution of financial crisis were as follows. First, the U.S. commercial banks issued a large number of high-risk real estate mortgage loans (i.e. subprime mortgages), then sold these subprime mortgages to Fannie Mae and Freddie Mac in order to transfer the potential risk of mortgages and return the funds as soon. Fannie Mae and Freddie Mac created subordinated bonds through asset to security approaches, sold bonds to investment banks like Merrill Lynch. Investment banks seek for high returns create financial innovations by complex means and make subprime lending which under investment grade (BBB / Baa) into a so-called structured products to attract the risk-interested investors. These typical derivatives finally have been sold to financ ial institutions and investors through their marketing network all over the world. When the original debtor cannot repay the mortgage on time, the financial crisis broke out and rapidly spread to whole world by the chain which is also the risk transfer line. We can illustrate this process as graph 1. Graph 1 Evolution of Financial Crisis 3.2 What does EMH faces in the financial crisis? The financial crisis has proved that the precondition of EMH is too far from reality. In graph1, there is a stream which contains risk, information and cash transferred between people and market. If the original debtors are also investors, an information circulation mechanism has been established. Ding (2005) interprets in this process, as investors not only analyze the information in the market, but also think about other investors’ potential activities in response to these changes. These changes in the market then become the basis for new thinking. A self-feedback loop established between the investors and market. Investors are both participants and observers. That is, the investors affect the market changes as well as are affected by the market, so the information that market participants obtained includes the information which is influenced by the participants’ own behavior. Therefore, it is impossible to understand the market completely and objectively. As Baker (2 006) has suggested that the investors’ behaviors need to be considered as one important factor in those theories like EMH’s perfect preconditions. From the view of information dissemination, false and short information commonly exists in market and it cannot be aware of. That is may be another reason for leading irrational behaviour. For instance, as Duncan reported (2009), on September 15th 2008, Lehman Brother collapsed with about $60 billion in toxic bad debts, and assets of $639 billion against debts of $613 billion. That made Lehman Brother, the largest investment bank, collapsed since 1990s. However, just five months ago, Lehman Brother held the annual shareholders meeting and the stock price was up to about 86 dollars per share. According to Fama (1970), investors operate stocks according to the information. When news spread on the stock market, the share prices begin to fluctuate. With the rapid dissemination of information, more and more people take part in the trade of stock. The share price will stay at a right level when all the people know the information. However from the Lehman Brother’s example such evide nce has been provided that because of the information quality, the price cannot reflect the right value. As Barry and Harvard (1979) have stated that the sufficient uncertainty information frequent transacting may be deleterious to market. Another precondition of EMH is the market is a perfectly competitive market. The perfectly competitive market is a market without government intervention and everyone is a price-taker (Nicholson, 2005). In reality, the perfectly competitive market is impossible to exist, although the governments advocate the market liberalization to attract people to take part in trading. Some liberal economics like Levine (2001) have pointed out â€Å"financial liberalization leads to more efficient investments and that financial liberalization boosts productivity growth†, but the huge rescue is the biggest evidence of the failure of market liberalization. The disappearance of business profit model of investment banks, government managed commercial banks and mortgage institutions provide the most effective large-scale evidence. The large investment institutions cannot effectively regulate themselves. So there is no perfectly competitive market and all the theory based on this assumption seems to go to failure. 3.3 What do we learn from financial crisis? Financial crisis reveals that the preconditions of EMH cannot realize in present world. Information uncertainty and feed-back loop lead people irrational and the huge rescue policy proves market is never perfectly competitive. So the prices cannot inflect reflect information in the right level. Lack of regulation of information and financial innovations may be the main reasons for this financial crisis. The Lehman Brother’s collapse indicates that financial markets potential failure really exists and that blindly believe in market lead to systemic collapse of financial markets. Therefore, only relying on the market self-regulation is insufficient, it needs government regulation and macroeconomic control to solve the problems. As the modern financial system in particular with the features of high leverage, high-relevance and high asymmetric, the market systemic risk and complexity have increased. In this case, government must play its leading role in financial supervision and take effective measures to curb excessive market speculation and the vicious competition among financial institutions. Particularly, government should strengthen the investment banking and financial regulations of derivatives to prevent financial institutions rely on excessive leverage to blind investment. 4 Conclusions The efficient market hypothesis provides an ideally situation that the stock prices reflect all relevant information in a perfectly competitive market in which the people are rational. Some valuable studies base on the concept of efficient market has been recognized. However, the extremely ideally preconditions of EMH lead people to rethink the application scope and its practice value. In the current financial crisis, EMH has faced huge challenges to the perfectly preconditions that perfectly rational man and perfectly competitive market cannot realize. These challenges are mainly from two aspects which are information and role of self-regulation in market. Firstly, with the rapidly information dissemination, an information circulation mechanism was established between investors and market. Investors not only absorb information from market, but also give their own views to market. So the information they get already includes their own views which is a reason to make investors irrational. Another problem about information is the uncertainty and inaccuracy that investment banks may use accounting method to blind investors and leads investors to operate stocks irrational. Secondly, EMH overemphasizes the role of self-regulation in the market. Howeve r, large investment institutions cannot regulate themselves effectively. The U.S. governments rescue policy is the greatest evidence of the failure of market liberalization. The departure from reality does not mean the complete failure of EMH. In future studies, EMH may be combined with other disciplines, in order to achieve a greater scope. Bibliography Barber, B. T. Odean (2001) ‘The Internet and the Investor’ Journal of Economic Perspectives 15(1):41-54. Ball, R P. Brown (1968) ‘An Empirical Evaluation of Accounting Income Numbers’ Journal of Accounting Research 6(2):159-178 Barry, M. B. Harvard (1979) ‘Information dissemination, market efficiency and the frequency of transactions’ Journal of Financial Economic 7(1):29-61 Baker, M. J. Wurgler (2007) ‘Investor Sentiment in the Stock Market’ Journal of Economic Perspectives 21(2):129-151 Duncan, G. (2009) ‘Lehman Brothers collapse sends shockwave round world’ The Times Sep 16th, 2008 Fama, E.F., L. Fisher, M. C. Jensen, R Roll (1969) ‘The Adjustment of Stock Prices to New Information’ International Economic Review 10(1):1-22 Fama, E.F. (1970) ‘Efficient capital markets: A review of theory and empirical work’ The Journal of Finance 25(2):383-417 Fama, E.F (1976) Foundations of Finance New York: Basic Books Grossman, S J. Stiglitz (1980) ‘On the Impossibility of Information Efficient Markets’ American Economic Review 70(3):393-408 Jensen M.C. (1969) ‘Risk, The Pricing of Capital Assets, and The Evaluation of Investment Portfolios’ Journal of Business 42(2):67-247 Maloney, M.T. J.H. Mulherin (2003) ‘The Complexity of Price Discovery in an Efficient Market: the Stock Market Reaction to the Challenger Crash’ Journal of Corporate Finance 9(4): 453-479 Osborne, M. (1959): ‘Brownian Motion in the Stock Market’ Operation Research 7: 145-173. Malkiel B.G. (2003) ‘The Efficient Market Hypothesis and Its Critics’ Journal of Economic Perspectives 17(1):59-82 Taylor, J.B. (2009) ‘The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong’ paper presented to Proceedings of FIKUSZ 09 Symposium for Young Researchers, Budapest, Hungary Nicholson, W. (2004) Microeconomic Theory 9th ed. 2005 South-Western College Pub Shleifer, A. (2000) ‘Inefficient Market- An Introduction to Behavioral Finance’ Oxford: Oxford University Press

Using Spanish Infinitives as Nouns

Using Spanish Infinitives as Nouns The infinitive is the most basic of the verb forms. Unlike the conjugated verb forms- the ones used most often in speech- an infinitive standing alone says nothing about how many people or things are performing the verbs action or when. In Spanish, the infinitive is the verb form that appears in dictionaries. The infinitive always has one of three endings: -ar, -er or -ir. Standing alone, the infinitive is usually translated to English as to followed by the verb. For example, ver is usually translated as to see, hablar as to speak. But as we shall soon see, in sentences the Spanish infinitive can be translated a number of ways. Fast Facts Infinitives often function as singular masculine nouns.As nouns, infinitives can act as subjects or predicates of sentences as well as objects of verbs and prepositions.The most common translations of infinitives as nouns to English are to verb and verb -ing. Infinitives Can Fill Most Roles of Nouns In this lesson, we look at instances where the infinitive functions as a noun.  When used as a noun, the Spanish infinitive is always masculine and almost always singular. Like other nouns, it can be the subject of a sentence, a predicate nominative (usually a noun that follows a form of to be or ser) or the object of a verb or preposition. The infinitive noun sometimes retains the characteristics of a verb; it sometimes is modified by an adverb rather than an adjective and can sometimes have objects. It is often translated into the English gerund (the -ing form of the verb). Infinitives used as nouns are always masculine and singular. Some infinitives can become nouns in their own right when they are made plural, however. For example, seres humanos (from ser, to be) refers to human beings. Here are some examples of the infinitive being used as a noun: As a subject: Nadar es el mejor remedio para el dolor de espalda. (Swimming is the best remedy for a backache.)As a subject: Es prohibido botar basura. (Dumping garbage is prohibited. Note that in Spanish, unlike English, it isnt unusual for the subject to follow the verb.)As a subject: Beber puede conducir a la intoxicacià ³n e incluso a la muerte. (Drinking can lead to poisoning and even death.)As a subject: No me gusta cocinar. (I dont like to cook. Literally, the sentence would be translated as cooking doesnt please me.)As a predicate nominative: La vida es un abrir y cerrar de los ojos. (Life is an opening and closing of the eyes.As a predicate nominative: La intimidad es un hablar honesto y profundo de lo que se siente y se piensa. (Intimacy is speaking sincerely and deeply about what one feels and thinks.)As the object of a verb: Yo preferirà ­a salir. (I would prefer to leave.)As the object of a verb: Odio estudiar algo que creo que no necesito. (I hate studying something I believe I dont need.) As the object of a verb: Te vi andar entre los rboles. (I saw you walking among the trees.)As the object of a preposition: Pienso de salir contigo. (Im thinking about leaving with you.)As the object of a preposition: Ten moderation en el comer o el beber. (Show moderation in eating or drinking.)As the object of a preposition: Al entrar al Sistema de Salud, usted y su empresa recibirn enormes beneficios. (Upon entering the Health System, you and your business will receive great benefits.) Using the Definite Article El With Infinitives As you may notice, the definite article el is not consistently used with the noun infinitive. Although there are no hard and fast rules, here are some guidelines. A very common way of using el is as part of the contraction al, for a el. It typically as the meaning of on or upon meaning at the time of: Al encontrar a mis padres biolà ³gicos logrà © una estabilidad. (I found some stability upon finding my biological parents.)El is usually used when the infinitive is modified by an adjective or a phrase acting as an adjective: El respirar rpido puede ser causado por varios desordenes. (Rapid breathing can be caused by various disorders.)The article is option in many situations, but when it is used it may give the sentence a more personal or informal sound.

SMOKER Essay Example | Topics and Well Written Essays - 750 words

SMOKER - Essay Example He has noticed a recurrent morning cough and increased production of mucus over the past 2 months or so. Chronic obstructive pulmonary disease (COPD) is an obstructive lung diseases that is characterised by inadequate airflow which is chronic in nature. The disease arises when the bronchi are scarred and inflamed as well as the damages of the alveoli. This process occurs after several years and is usually caused by cigarette smoking. In essence, several scholars incorporated emphysema and bronchitis in defining COPD. Bronchitis is defined as presence of chronic productive cough for a period of 3 months in 2 consecutive years. While emphysema is an abnormal enlargement of the air spaces that are distal to the terminal bronchi with obvious destruction of the bronchiole walls (Decramer, Janssens, & Miravitlles, 2012). Cigarette smoking is the major cause of COPD accounting for 80%-95%; however, some factors have also been associated with the disease and they include air pollution like in poorly ventilated cooking places. Occupational exposure to irritants such as dust, fumes and other chemicals, which are found in textile industries, gold mines among others. Genetics have  been noted to have  a major role in the development of COPD, whereby those individuals who lack alpha 1-antitrypsin are likely to develop COPD (Barnes, 2014). Shortness of breath: This is the most worrying symptom to most people with the disease; occasionally patients complain that they cannot inhale enough air. This symptoms is usually worsened by exertion, however in the advanced stage of COPD it can occur during rest. The pathological changes in COPD usually occur in the lung parenchyma, the bronchi as well as the bronchioles. Several causes of chronic obstructive pulmonary disease occur due to exposure to the noxious substances or stimuli such as cigarette smoke. The Pathophysiology is not very clear and is most likely to be diverse. However, elevated numbers of activated