Archaeology and the Public essays

Archaeology and the Public essays American society throughout the past century has been highly influenced by the continuous and almost predictable routine that the National Graphic Magazine has developed over its hundredth year of publication in 1988. As the credible all-American geographical information database, the National Geographic attempts to create themes idolizing the thrill of seeking historical treasures and remains and at the same time portray the cultural differences that span the globe. Though the times have drastically changed over the past hundred years, the subject matter the National Geographic Magazine uses usually combine a number of the following themes: cultural expansion and transformation, discovery of the unknown, personal ambitions, informational resourcefulness, patronage of American values and democracy, international cooperation, and obviously preservation of historical evidence and treasures of ancient civilizations. In this way, the National Geographic Magazine could be responsible for the manipulation of stories to provide the most interesting and visually stimulating presentation possible. While the primary principle of the magazine is absolute accuracy, the secondary principles pertain to stories featuring only pleasant non-partisan views, and avoid cultural criticism, specifically with information relating to values and religion. The National Geographic Magazine mirrors the path America has taken to reach the point that we are at today. This can be explained for multiple reasons, including the service of political and military figures as directors of the National Geographical society, informational contributions regarding national and international policy, and through sharing the databases of maps and photographs with government sectors. In Joan Geros and Dolores Roots, Public presentations and private concerns: archaeology in the pages of National Geographic the coverage of...

Biography of Beryl Markham, Aviation Pioneer

Biography of Beryl Markham, Aviation Pioneer Beryl Markham (born Beryl Clutterbuck; October 26, 1902 – August 3, 1986) was a British-Kenyan aviator, writer, and horse trainer. Although she worked in several different fields, she is best known for being the first woman to fly non-stop across the Atlantic Ocean from east to west. She wrote her own memoir, West with the Night, and was the subject of a best-selling novel. Fast Facts: Beryl Markham Full Name:  Beryl Clutterbuck MarkhamOccupation: Aviator and writerBorn: October 26, 1902 in Ashwell, Rutland, EnglandDied: August 3, 1986 in Nairobi, KenyaKey Accomplishments: The first woman to make a non-stop transatlantic flight from east to west and the author of the memoir West with the Night.Spouses Names: Jock Purves (m. 1919-1925), Mansfield Markham  (m. 1927–1942), Raoul Schumacher  (m. 1942–1960)Childs Name: Gervase Markham Early Life At age four, young Beryl moved to British East Africa (modern-day Kenya) with her father, Charles Clutterbuck. Beryl’s mother, Clara, did not join them, and neither did Beryls older brother Richard. As a child, Beryls education was spotty at best. She instead spent considerable time hunting and playing with local children. For a while, Beryl was happy. Her father Charles started a horse racing farm, and Beryl took to horse training immediately, establishing herself as a trainer in her own right by the time she was only seventeen. When Beryl was a teenager, however, her father fell on hard times. Charles lost his fortune and fled from Kenya to Peru, leaving Beryl behind. Never one to be down for long, Beryl took her career into her own hands. In 1920, at the age of eighteen, she became the first woman in Kenya to receive a racehorse trainer’s license. Romantic and Royal Entanglements As a young woman, Beryl was the subject of much attention. She married Captain Jock Purves at age seventeen, but the couple divorced soon after. In 1926, she married the wealthy Mansfield Markham, from whom she took the surname that she used for the rest of her life. Mansfield and Beryl had one son together: Gervase Markham. Beryl went on to have a complicated, often cold relationship with her son for most of her life. Beryl was often in the company of the â€Å"Happy Valley Set,† a group of mostly English, mostly wealthy adventurers who settled in Africa (specifically in the area that is Kenya and Uganda today). This group was notorious for its decadent lifestyle, reportedly indulging in drugs, sexual promiscuity, and extravagance. Although she was not wealthy or titled enough to truly be part of the group, Beryl spent time with many of its members and was influenced by their lifestyles. In 1929, Beryl’s affair with Prince Henry, Duke of Gloucester (the third son of King George V) became public. There were also rumors that she had been romantically entangled with his older brother Edward, who was an infamous playboy. (Perhaps these rumors about Edward and Beryl were an indicator of things to come: Edward’s proclivity for scandalous romances would eventually result in a succession crisis in the United Kingdom, when he chose to abdicate his throne to marry American divorcee Wallis Simpson.) Even though Henry was only a third son, the British royal family disapproved, and although the reason for Beryl and Henrys eventual parting was never known, it was widely believed that his family had split them up. Beryl earned a reputation for many affairs, which she typically ended when she tired of them. She reportedly treated her friends the same way. She may have had affairs with princes, but the great love of Beryl’s life was only minor nobility. Denys Finch Hatton, the second son of an English earl, was a big game hunter and daring pilot who came to Africa following World War I. Fifteen years Beryl’s senior, he had also had a long-term romance with Beryl’s friend and mentor Karen Blixen, who wrote the famous book Out of Africa about herself and Denys. As Karen and Denys’s affair hit a slow patch in 1930, he and Beryl fell into an affair of their own. In May 1931, he invited her to come along on a flying tour, knowing her burgeoning interest in flight, but she declined when her friend and flight teacher Tom Campbell Black urged her not to go, out of some unsettling instinct. Campbell Black’s advice proved life-saving: Denys’s plane crashed minutes after takeoff, killing him at the age of 44. Flight Career Following Denys’ death, Beryl pushed herself even harder in her flying lessons. She worked as a rescue pilot and a bush pilot, scouting out game and signaling their locations to safaris on the ground. It was in this capacity that she encountered more notable names, including Ernest Hemingway, who would later praise her memoir but insult her personally because she wouldn’t have an affair with him while he was on safari in Kenya. Beryl’s crowning achievement was her transatlantic flight in September 1936. Before then, no woman had ever flown a non-stop flight from Europe to North America nor flown it solo. She departed from the English coast and, despite serious fuel problems towards the end of her journey, made it to Nova Scotia. Upon achieving this dream, she was celebrated as a pioneer in the world of flight. In the 1930s, Beryl relocated to California, where she met and married her third husband, the writer Raoul Schumacher. She wrote a memoir, West with the Night, during her time in the United States. While the memoir was not a bestseller, it was well-received for its compelling narrative and writing style, as evidenced in passages like this one: We fly, but we have not conquered the air. Nature presides in all her dignity, permitting us the study and the use of such of her forces as we may understand. It is when we presume to intimacy, having been granted only tolerance, that the harsh stick fall across our impudent knuckles and we rub the pain, staring upward, startled by our ignorance. West with the Night ultimately went out of print and into obscurity, where it languished for decades until it was rediscovered in the early 1980s. Controversy has persisted to this day about whether or not Beryl actually wrote the book herself or whether it was partially or completely ghostwritten by her husband. Experts on both sides of the debate have presented compelling evidence, and it seems likely that the mystery will remain forever unsolved. Later Life and Public Legacy Eventually, Beryl returned to Kenya, which she considered her real home. By the early 1950s, she had re-established herself as a prominent horse trainer, although she still struggled financially. She slid into obscurity until 1983, when West with the Night was re-released and a journalist from the Associated Press tracked her down. By then, she was elderly and impoverished, but the publicity and sales around the book’s re-release was enough to raise her back to a comfortable lifestyle until she died in Nairobi at the age of 83 in 1986. Beryl’s life sounded more like the stuff of adventurous (and mostly male) aviators than of a lady of her time, and as a result, she was the subject of endless fascination. Although her scandalous and sometimes callous romantic behavior garnered a lot of attention, her record-setting flight would always be her legacy. When Karen Blixen (using the pen name Isak Dinesen) wrote Out of Africa, Beryl did not appear by name, but an avatar of her- a rough-around-the-edges horse rider named Felicity- did appear in the film adaptation. She has been the subject of multiple biographies, as well as Paula McLain’s 2015 bestselling fictional novel Circling The Sun. A complicated woman with a nearly unbelievable life, Beryl Markham continues to fascinate audiences to this day. Sources â€Å"Beryl Markham: British Author and Aviator.† Encylopaedia Britannica, https://www.britannica.com/biography/Beryl-Markham.Lovell, Mary S.,  Straight on Till Morning, New York, St. Martins Press, 1987Markham, Beryl.  West with the Night. San Francisco: North Point Press, 1983Trzebinski, Errol.  The Lives of Beryl Markham.  New York, W.W. Norton, 1993.

Embryonic Stem Cell Research Essay Example | Topics and Well Written Essays - 1500 words

Embryonic Stem Cell Research - Essay Example The essay "Embryonic Stem Cell Research" talks about the embryonic stem cells which have two unique properties including their ability to grow and differentiate as well as to replicate infinitely. The ability of ES cells to self-renew indefinitely is the main reason why it is used in treatments for regenerative medicine and tissue replacement after either an injury or disease. Other than its curative essence, the ES cell is beneficial in studying early developments in human as an in vitro technique in toxicology testing.Varying conviction between religion and science in regards to Human life’s inception has yielded to uncalled for controversy more so in embryonic stem cell research. Hence, prompting some contended the controversy is about annihilating human embryos for it is by far from ES cell research. Even the staunch dissenters have shown some support and approval towards other stem cells research methods like in vitro fertilization clinics and adult stem cell. Some also s ay that creating and destroying embryos for curing diseases through IVF clinics is not justifiable than the ES cell research. Modern scientific technologies have pushed beyond the domains of morality and this has led to the dilemma in the bodies governing the implementation and policymaking. This controversy reminds us of recombinant DNA and in vitro fertilization. Christianity includes various Orthodox, Catholicism, and Protestant churches which lack a unanimous definitive statement on when life begins and when an embryo becomes a person.

Morrison Supermarket LTD Essay Example | Topics and Well Written Essays - 750 words

Morrison Supermarket LTD - Essay Example All these and many other distinguishing features have helped the Morrisons to grow over the years (Morrisons, 2010). As the scale of operations continue to grow bigger for the Morrisons, the stakes tend to get higher; with such an expanded business setup, the decision makers at the company believe that they are exposed to certain degree of risks as well. According to them, if there is some incident that interrupts their manufacturing or distribution units, it might overall affect the flow of business (Morrisons, 2010). Further, the operating systems used by most of the company members are at the verge of completing their age, in this way the company will have to devise a new IT policy along with replacement of old systems, with the new ones (Morrisons, 2010). With respect to the exceptional growth attained by the Morrisons in the last five years, the company has decided to expand its business. Some of the future goals that the company has set for itself include establishing of a nation-wide distribution chain all over UK; an increase of 1.5 million square foot of selling space; improved access for the customers (Morrisons, 2010). Keeping these growth objectives intact, the company wants to maintain a highly skilled operating team that could ensure corporate social framework. The company wants to maximize its profits by establishing cost effective production units, and gaining direct access to agricultural produce. Moreover, the use of environmental friendly operations is among the key objectives for the success of the company in future. Expansion of the business by devising sound IT policy has become inevitable, so the company considers E-marketing as opportunity for enhancement of services (Morrisons, 2010). The perception of customers about a particular brand evolves with the experience they gain after using or consuming products/services offered by a

Project Management and Ethics Case Study Example | Topics and Well Written Essays - 1750 words

Project Management and Ethics - Case Study Example In analysing ethics, this paper will discuss the ethical considerations in the nuclear development and use among the developed countries. The March 11, 2011 earthquake that hit Japan’s Fukushima 1 nuclear plant had adverse effects not only on the lives of the people, but also on the environment. The earthquake, the biggest to hit the country caught the government unawares. The repercussions of the earthquake were devastating. It affected at least 80,000 people within a 12-mile radius through displacements. Further, a considerable number perished from the events that took place during this period. Reports indicate that three months after the earthquake, the plant was still leaking radioactive material. Fuel rods in reactors 1,2 and 3 melted down causing damage to the containment structure, sparking a series of fires in the plant. Additionally, there was extensive damage in infrastructure. In analysing this case, the paper will consider ethical principles and values that could h ave helped in avoiding the events that occurred during this accident. Ethics for a long time has evolved with the evolution of the society. From the times of Confucius, different thinkers, philosophers and thinkers have made considerable contributions to the field of ethics. Because ethics define, elements that make something good or bad, different people have suggested different ways defining good or bad elements of something. Currently, different theories and principles focus on societal ethics. The humanitarianism theory holds the belief that the sole moral obligation of humankind is the improvement of human welfare (Abu-Sada 2012,  p. 85). Over time, evolution of this theory has taken into consideration the concern of other people’s welfare and concern for their safety and reduced level of victimization of people in the society. Developed with relation to the slavery in the United States, contemporary humanitarianisms hold that the

The Characteristics of Foreign Exchange markets

The Characteristics of Foreign Exchange markets Foreign exchange refers to money denominated in the currency of another nation or group of nations. Foreign exchange can be cash, bank deposits or other short-term claims. But in the foreign exchange market as the network of major foreign exchange dealers engaged in high-volume trading, foreign exchange almost always take the form of an exchange of bank deposits of different national currency denominations. Market Characteristics The foreign exchange market place is a twenty-four hour market with exchange rates and market conditions changing constantly. However, foreign exchange activity does not flow evenly. Over the course of a day, there is a cycle characterized by periods of very heavy activity and other periods or relatively light activity. Business is most heavy when two or more market places are active at the same time such as Asia and Europe or Europe and America. Give this uneven flow of business around the clock, market participants often will respond less aggressively to an exchange rate development that occurs at a relative inactive time of day, and will wait to see whether the development is confirmed when the major markets open. Nonetheless, the twenty-four hour market does provide a continuous real-time market assessment of the currencies values. The market consists of a limited number of major dealer institutions that are particularly active in foreign exchange, trading with customers and (more often) with each other. Most, but not all, are commercial banks and investment banks. The institutions are linked each other through telephones, computers and other electronic means. There are estimated 2,000 dealer institutions in the world, making up the global exchange market. Each nations market has its own infrastructure. For foreign exchange market operations as well as for other matters, each country enforces its own laws, banking regulations, accounting rules, and tax codes. They also have different national financial systems and infrastructures through which transactions are executed and within the currencies are held. With access to all of the foreign exchange markets generally open to participants from all countries, and with its vast amounts of market information transmitted simultaneously and almost instantly to dealers throughout the world, there is an enormous amount of cross-border foreign exchange trading amongst dealers as well as between dealers and their customers. At any moment, the exchange rates of major currencies tend to be virtually identical in all of the financial centers. Rarely are there such substantial price differences among these centers as to provide major opportunities for arbitrage. Over-the-Counter vs. Exchange-Traded Segment There are generally two different market segments within the foreign exchange market: over-the-counter (OTC) and exchange-trade. In the OTC market, banks indifferent locations make deals via telephone or computer systems. The market is largely unregulated. Thus, a bank in a country such the USA does not need any special authority to trade or deal in foreign exchange. Transactions can be carried out on whatever terms and with whatever provisions are permitted by law and acceptable to the two counter-parties, subject to the standard commercial law governing business transactions in the respective countries. However, there are best practice recommendations such from the Federal Reserve Bank of New York with respects to trading activities, relationships, and other matters. Trading practices on the organized exchanges and the regulatory arrangements covering the exchanges, are markedly different from those in the OTC market. In the exchange, trading takes place publicly in a centralized location and products are standardized. There are margin payments, daily marking to market, and a cash settlement through a central clearinghouse. With respects to regulations in the USA, exchanges at which currency futures are traded are under the jurisdiction of the Commodity Futures Trading Corporation (CFTC). Steps are being taken internationally to harmonize trade regulations and to improve the risk management practices of dealers in the foreign exchange market and to encourage greater transparency and disclosure. The various parties involved Today, commercial banks and investment banks serve as the major dealers by executing transactions and providing foreign exchange services. Some, but not all, are market makers, that regularly quote both bids and offers for one ore more particular currencies thus standing ready to make a two-sided market for its customers. Dealers also trade foreign exchange as part of the banks proprietary trading activities, where the firms own capital is put at risk on various strategies. A proprietary trader is looking for a larger profit margin based on a directional view about a currency, volatility, an interest rate that is about to change, a trend or a major policy move. . Payment and Settlement Systems Executing a foreign exchange transaction requires two transfers of money value, in opposite directions, since it involves the exchange of one national currency for another. Execution of the transaction engages the payment and settlement systems of both nations. Payment is the transmission of an instruction to transfer value that results from a transaction in the economy, and settlement is the final and unconditional transfer of the value specified in a payment instruction. The foreign exchange instruments Spot: A spot transaction is a straight forward (or outright) exchange of one currency for another. The sport rate is the current market price, the benchmark price. Outright Forwards: An outright forward transaction is a straight forward single purchase/sale of one currency for another, that is settled on a day pre-arranged date three or more business days after the deal date. FX Swaps: In the FX swap market, one currency is swapped for another for a period of time, and then swapped back, creating an exchange and re-exchange. Currency swaps: In a typical currency swap, counter-parties will (i) exchange equal initial principle amounts of two currencies at the spot exchange rate, (ii) exchange a stream of fixed or floating interest rate payments in their swapped currencies for the agreed period of the swap and then (iii) re-exchange the principle amount at maturity at the initial spot exchange rate. Direct and Indirect Quotation for Exchange Rates Purpose: This component enables you to manage exchange rates for each currency pair using direct or indirect quotation. The type of quotation used is dependent on the market standard. You can define the type of quotation per client and currency pair (business transaction). Indirect quotation has not been required until now, because direct quotation was usually used for exchange rates. With the start of the dual currency phase of the European Monetary Union (EMU), indirect quotation is now used within Europe for exchange rates with the euro. Indirect quotation is also becoming more widely accepted internationally. Until now, there were many limitations involved in processing indirect exchange rates. Direct quotation is where the cost of one unit of foreign currency is given in units of local currency, whereas indirect quotation is where the cost of one unit of local currency is given in units of foreign currency. Your local currency is GBP: Direct exchange rate: 1USD = 0.6464 GBP Indirect exchange rate: 1GBP = 1.5470 USD Direct or indirect quotation can be maintained as the standard form of quotation for a certain currency pair. You use: 1 for direct quotation 2 for indirect quotation If a standard form of quotation has not been specified for a currency pair, the system automatically uses direct quotation. Foreign currency options: A foreign exchange or currency option contract gives the buyer the right, but not the obligation, to buy/sell a specified amount of one currency for another at a specified price on a specified date. That differs from a forward contract, in which the parties are obligated to execute the transaction on the maturity date. An OTC foreign exchange option is a bilateral contract between two parties. In contrast to the exchange-traded options market, in the OTC market, no clearing-house stands between the two parties, and there is no regulatory body establishing trading rules. Trade mechanics Dealer institutions trade with each other in two basic ways: direct dealing and through a brokers market. The mechanics of the two approaches are quite different, and both have been changed by technological advances in recent years. Direct Dealing: Each of the major market makers shows a running list of its main bid and offer rates that is, the prices at which it will buy and sell the major currencies, spot and forward and those rates are displayed to all market participants on their computer screens. The dealer shows his prices for the base currency expressed in amounts of the terms currency. Although the screens are updated regularly throughout the day, the rates are only indicative-to get a firm price, a trader or customer must contact the bank directly. A trader can contact a market maker to ask for a two-way quote for a particular currency. Theories of Fund Flow Fund flow is usually measured on a monthly or quarterly basis.  The performance of an asset or fund is not taken into account, only share redemptions (outflows) and share purchases (inflows).   Net inflows create excess cash for managers to invest, which theoretically creates demand for securities such as stocks and bonds.  Ã‚   Law of one price The law of one price is another way of stating the concept of purchasing power parity. The law of one price exists due to arbitrage opportunities. If the price of a security, commodity or asset is different in two different markets, then an arbitrageur will purchase  the asset in the cheaper market and sell it where prices are higher. When the purchasing power parity doesnt hold, arbitrage profits will persist until the price converges across markets. Foreign exchange risk exposure : We can define exposure as the sensitivity real home currency value of an asset, liability or an operating income to an unknown change in the exchange rate, moreover foreign exchange risk means variabilty of the domestic currency values of assets, liabilities operating income due to unknown changes in exchange rate. The foreign exchange business is by nature risky because it deals primarily in risk measuring it, pricing it, accepting it when appropriate managing it. Market Risk: Market risk, in simple terms, is price risk, or exposure to adverse price change. For a dealer in foreign exchange, two major elements of market risk are exchange risk and interest rate risk. Exchange rate risk is inherent in foreign exchange trading. Interest rate risk arises when there is any mismatching or gap in the maturity structure. Thus, an uncovered outright forward position can change in value, not only because of a change in spot rate but also because of a change in interest rates, since a forward rate reflects interest rate differential between the two currencies. Credit Risk: Credit risk arises from the possibility that the counter-party to a contract cannot or will not make the agreed payment at maturity. In foreign exchange trading, banks have long been accustomed to dealing with the broad and pervasive problem of credit risk. Know your customer is a cardinal rule and credit limits or dealing limits are set for each counter-party and adjusted in response to changes in financial circumstances. Over the past decade or so, banks have become willing to consider margin trading when a client requires a dealing limit larger than the banks is prepared to provide. Under this arrangement, the client places a certain amount of collateral with the bank and can then trade much larger amounts. Other Risks: Numerous other forms of risks can be involved in the foreign exchange trading, such as liquidity risk, legal risk and operational risk. The latter is the risk of losses from inadequate systems, human error, or lack of proper oversight policies and procedures and management control. Interest rate swap and currency swap: Interest rate swaps: This type of swaps are derivatives as the the underlying asset is not exchanged in the trancation. It is an agreement in which two parties exchange interest payments of differing nature on an imaginary amount of principal for a defined time span. Actually, it is an exchange of different cash flows; one generated by a fixed interest rate on a sum, the other by a floating interest rate on the same sum. For instance, a party (such as a depository institute) that earns a steady stream of income may prefer one which matches (fluctuates with) the market interest rates. It may agree to exchange its interest income on a certain sum (say ten million dollars of principal) for a certain period (say one year) with another party (such as a mutual fund) which earns a fluctuating interest income but prefers a steady one. Currency swap: An agreement between two parties to exchange  interest  payments and principal on loans denominated in two different currencies. In a cross currency swap, a loans interest payments and principal in one currency would be exchanged for an equal valued loan and interest payments in a different currency. Different Types of Foreign currency option: Arrangement in which a party acquires (upon payment of a fee) the right but not the obligation to buy or sell a specified amount of a currency on a fixed date and at a fixed rate. Such options are used usually by importers as a hedge against exchange rate fluctuations. See also foreign exchange contract. Call Option: The call options give the buyer the right, but not the obligation, to buy the underlying shares at a predetermined price, on or before a determined date. Put Option: A Put Option gives the holder the right to sell a specified number of shares of an underlying security at a fixed price for a period of time. Knock-Out Options: These are like standard options except that they extinguish or cease to exist if the underlying market reaches a pre-determined level during the life of the option. The knockout component generally makes them cheaper than a standard Call or Put. Knock-in Options These options are the reverse of knockout options because they dont come into existence until the underlying market reaches a certain pre-determined level, at this time a Call or Put option comes into life and takes on all the usual characteristics. Average Rate Options The options have their strikes determined by an averaging process, for example at the end of every month. The profit or loss is determined by the difference between the calculated strike and the underlying market at expiry. Basket Options A basket option has all the characteristics of a standard option, except that the strike price is based on the weighted value of the component currencies, calculated in the buyers base currency. The buyer stipulates the maturity of the option, the foreign currency amounts which make up the basket, and the strike price, which is expressed in units of the base currency. Difference between a call and a put option : The main diffenence in writing a put option and buying a call option is that they both are opposite to each other an elaboration of a put and call option will diffenciate clearly. An inverstor who writes a call option sees the future price of the underlying asser will go up and they will be able to get profit from this investment. An investor who buy put options believe the price of the underlying asset will go down and they will be able to purchase another option on the same asset for reselling at a price lower than the current exercise price. Put Option : Because put options vest the buyer with the right to sell stock at a pre-determined price, these option contracts are frequently used to protected stock holdings from losses in the event of a market decline.   Much like insurance, a stock investor can pay a premium and purchase a put option to protect his holdings.   In the event of a market downturn, he may sell the put option at an increased value to offset any losses or the option may be exercised, and the stock sold, at what would be above market prices. Call option : A call option, often it is simply labeled a call, is a financial contract between two parties, the buyer and the seller of this type of option. The buyer of the call option has the right, but not the obligation to buy an agreed quantity of a particular commodity or financial instrument (the underlying) from the seller of the option at a certain time (the expiration date) for a certain price (the strike price). The seller (or writer) is obligated to sell the commodity or financial instrument should the buyer so decide. The buyer pays a fee (called a premium) for this right. Why are the premiums different with the same contact specifications but different trading dates: The premium is the amount that is offered to the contactor for taking the risk while making a forwad, future or options contract as the investor is making his/her investment safe the contractor is exposed to risk so he/she might charged an amount called premium. The reason that the contract might have different premium amount with the same specifications is that the risk of currency appriciation or depriciation or the maturity of the contract, foir instance if the contract is one month long the premium might be low as the contract time is less and more accurate predictoins can be made by the contractor but if the maturity date is too long it will be difficult for the contractor to predict the future or will be difficult for him to manage his/her own risk do he/she might charge more premium for the transaction. Deep in the money : An option with an exercise price, or strike price, significantly below (for a call option) or above (for a put option) the market price of the underlying asset. Significantly, below/above is considered one strike price below/above the market price of the underlying asset.  For example, if the current price of the underlying stock was $10, a call option with a strike price of $5 would be considered deep in the money. Many option traders (both professionals and individual investors) will exercise, as they have the right, an expiring option that is in-the-money by any amount, even though this amount may be less than OCCs thresholds for automatic exercise. Therefore, you might anticipate assignment on any in-the-money option at expiration. An option is  in-the-money if it has positive intrinsic value that is, if the holder would profit from exercising it. In terms of strike price, a call is in-the-money if the exercise price is below the underlying stocks spot price. A put is in-the -money if the exercise price is above the stocks spot price. If GBP would depreciate against the dollar a call or put option would have been better for a British exporter If the GBP would depreciate against the dollar a call option will be beneficial for a British exporter as he is carrying transactions in dollar and he can buy GBP on low price at the future date and when it appreciates he can again write a put put option to get the benefit

Television Programs: How They Affect Society :: essays research papers

Television Programs: How It Affects Society   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"It was an accident,† proclaimed Janet Jackson after her Super Bowl fiasco, â€Å"a wardrobe malfunction.† It didn’t appear to be one to the millions of people who witnessed the exposing of one of Jackson’s breasts. Many were shocked and outraged, but this type of thing isn’t new for the infamous â€Å"boob tube†. In 1977, the miniseries â€Å"Roots†, was the first TV show to air bare breasts (Clark 1070). Even still, television programs have come a long way since that and the time of their creation.   Ã‚  Ã‚  Ã‚  Ã‚  Invented in 1923, television programs started off with airing sporting events, news hours, and cookie cutter programs (â€Å"History of TV† History). These programs usually taught morals and lessons at their closings and gave a false sense of reality. Today, you can see just about anything on TV, from someone being gunned down to wild and risk-free sex between couples (Gay couples too!). Studies have been done to see if these scenes seen by society can affect us negatively, as children have been analyzed through adulthood to see if violent and sexual behavior on TV has affected them badly. The results are children starting to deal with adult issues at an early age due to the graphic nature of television programs. Society now is more aggressive and losing it’s values. With this said, television programs have clearly evolved since 1923 and affected society negatively due to it’s violent and sexual content.   Ã‚  Ã‚  Ã‚  Ã‚  Since it’s start television has grown in availability and reached the living rooms of many. Television’s expansion started off slow due to the Depression and World War II. By the end of World War II, TV was certain to grow as fast as the radio had twenty years prior (Jost 1139). Television has also developed better technology as it is now shown in color with digital picturing. This started towards the late 1930's, when new technology was being used to show baseball games and special events (Jost 1138).   Ã‚  Ã‚  Ã‚  Ã‚  With the rise in technology companies have come up with a new system, interactive television. â€Å"With digital interactivity, consumers are in total control of the programming they bring into their homes,† declared Time Warner Chairman Gerald Levin on interactive television (qtd. in Jost 1131). I have witnessed firsthand, interactive TV as my cable company, Comcast, offers something similar called On Demand TV. With it I can choose movies or shows I want to watch.

Liberation theology Essay

In the article, author Enrique Dussel has asserted that the use of Marxism by theologians was adequate, just and beneficial for society. It is not inconsistent with Christianity; in fact it has increased popularity of the faith especially in nations where economic conditions are harsh and vast disparities exist between privileged classes and the masses. From its inception, liberation theology attempted â€Å"to bring about a social, economic and political change that would permit the exploited classes, the poor and the Latin American people to reach a just, humane, fulfilled life† (p. 86). The author has explained that theologians needed tools to translate the ideas of religious thought to practical, real-world situations and the teachings of Marx provided these tools. Dussel has argued against conventional thought that criticizes Marxism for not being humanistic. He proposes that in fact liberation theology sought to address the plight of human suffering, expanding the gambit from individual to society. Further only those aspects of Marxism have been incorporated by various liberation theologians that are consistent with Christianity. Liberation theology employs â€Å"the use of Marxism – at its proper level, the economic and philosophical – is complete and occurs in a Christian faith that sacrifices nothing of its own tradition† (p. 97). The author’s contention in this regard holds merit. In Latin America and elsewhere people are realizing the faults of capitalism. Recent global economic crises have thrown even the most developed economies to turmoil. Many people are re-considering the meaning of economic development and national prosperity. In terms of faith also, there is realization that the common good must be stressed and only then can society flourish. These ideas are completely in-line with the Christian faith and at the same time, are more relevant to majority of the people.

The Prophet Muhammad Achievements

The Prophet Muhammad Achievements Introduction Throughout the history of mankind the messengers of God’s divine message have been reduced to victims of violence and ridicule; from Adam to Muhammad this trend has been repeated. Many achievements in this world can be attributed to the Prophet Muhammad (SAW)(Cheema 1).Advertising We will write a custom essay sample on The Prophet Muhammad Achievements specifically for you for only $16.05 $11/page Learn More Generally speaking, Prophet Muhammad was a great benefactor of mankind and this discussion will seek to understand the person that he was, especially in light with this age where narrow-mindedness and prejudice has caused the teaching of the great Prophet to be misunderstood. Therefore, it’s important to independently look at the character and the person that the prophet was and hence this article. Discussion Prophet Muhammad was the last prophet of God according to The Quran, the Muslims holy book. Prophet Muhammad was born th e year 560 AD in the city of Mecca Saudi Arabia. Muhammad was raised by his uncle Abu Taib after he became an orphan at an early age. No documentation exist indicating whether he received a formal education in regards to reading and writing, however as illustrated by The Quran the experience between the Prophet and Angel Gabriel demonstrates that he didn’t receive any formal education(Kathir 190). In the region that Prophet Muhammad originated from, immorality, cruelty, polytheism, idol worshiping and illiteracy existed at a very high rate. Slavery on its part had become so rampant on that part of the world. Prophet Muhammad was a soft spoken young man who kept aloof from those who participated in paganism and the rituals associated with the region at that time.He began to preach about the existence of only on God –Allah and at the age of 40 after he received his first revelation (Kathir 191). His preaching of the existence of only one God attracted opposition from the pagans of Mecca (Quraysh).They offered him gifts, power, honor and material things in the hope that he would abandon his preaching and instead preach about the idols. The prophet refused this offer stating that he would never renounce his mission even if the sun will be put on his right hand and the moon on his left hand. Having taken this stance he and his followers were banished from Mecca after being tortured and some of them being brutally killed by the Quraysh. He immigrated to Medina where he established himself after being warmly welcomed (Azzam 14).Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More The pagans of Mecca were determined to root out the new religion forcing Muhammad to defend himself in several wars. He was successful in his defense, with the help of a small force, 10,000 followers; he was able to defeat a huge, well equipped and well trained force (Rizvi 13). N ear the end of his life he returned to Mecca, his hometown where he took over it and declared a general amnesty for everyone including those who had committed serious crimes. He brought law and order within a short period of ten years to people who were well known for lawlessness, immorality and ignorance. From there, Islam spread to the greater part of Arabia and now to all corners of the world. No man with Muhammad’s accomplishments as yet again been produced to the world. The Prophet had uncountable accomplishments in his life live alone the world, including but not limited to being a prophet, judge, reformer, political leader and a moralist. Besides these accomplishments he was a person of exemplary character who practiced what he preached as demonstrated in the Hadiths. He had the best morals characterized by truthfulness, forgiveness humbleness and many others. The prophet Muhammad had a great love for the almighty God. For majority of his life since he was a child, he dedicated his life to trying to establish a close relationship with God by praying, fasting and spending a lot of time supplicating to him. The Prophet frequented a cave in Hira where he often went to fast and pray. It was during such a situation when he received his first revelation from God (Cheema 2). During hardships and suffering the prophet showed a lot of patience and nothing took hold of him as he was never discouraged by adverse conditions or personal desires. Besides the death of his father and later his grand father, the prophet had been faced by the death of several of his wives including Khadija and seven of his children. Nonetheless the Prophet remained very patient and dignified in his manners, a character not observed in the people around him, this character was demonstrated in one of the occasion that he admonished a woman who was occupied in loud mourning of the death of her child to which the Prophet told her to be patient and accept gods will, not knowing that sh e was talking to a Prophet of God, the woman told him that he(the Prophet) couldn’t understand the pain that comes with losing a child as he had never lost any to which the Prophet told her that he had lost seven children(Cheema 5).Advertising We will write a custom essay sample on The Prophet Muhammad Achievements specifically for you for only $16.05 $11/page Learn More Muslims have been enjoined by the Prophet to treat the poor kindly as narrated by Abu Said Al-Khudri, the Prophet encouraged Muslims to help other Muslims by giving them clothes, foods and drinks and in return they will be rewarded in paradise by being given cloths by green garments of paradise, fruits of paradise and pure wine (Cheema 11) Acquisition of wealth is not discouraged by the Prophet or prohibited but instead he insists that they should be acquired lawfully and a part of it given to the poor. Throughout his life the Prophet encouraged hard work, independence and nobleness of the people. He encouraged charity; the Prophet was relatively rich, however in his house he never for more than a day remained without distributing his wealth to charity, the Prophet mostly used his wealth to please God (Cheema 12). Conclusion Millions of people all over the world still love and adore Prophet Muhammad(saw), he has changed the lives of many including women by bringing respect and dignity to them. Islam’s foundation is based on His believes and teachings and it is for this reason that the barriers of tribalism, racism, power and wealth have been able to be broken. The destiny of humanity is still largely influenced by his revolution and the document which bears God’s message sent through him, Quran, continue to bring wisdom, guidance, and influence to all men all over the world. Philosophers, historians, students of religion, leaders, Muslims and non-Muslims alike continue to acknowledge and admire the Prophet thousands of years after his death (Akhta r 10). Akhtar S.H. Prophet Muhammad.Austin Texas.2009, Web.6 Oct.2011. Azzam K.A.Life of The Prophet Muhammad.New York.June 2003. Web.6 Oct 2011.Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Cheema M.A.The Holy Prophet Muhammad.New York:Hart publishiung,Sep 2001.Web.6 Oct 2011. Kadhir I.A.Stories of The Prophets,Al Azhar(Trans).Riyadh:Darusalam, 2005.Web.6 Oct.2011. Rizvi S.S.The Life of Muhammad the Prophet.TZ:Oxford publishing,June 2009.Web.6 Oct 2011.

Comparison of electric and gas

Comparison of electric and gas Introduction The auto industry has been undergoing changes since the first car was invented in 1871. Most of these changes are designed to help improve the efficiency and comfort of cars. Because of the increasing cost of gasoline and diesel, most of the latest developments in the performance of cars have been directed at the creation of alternative forms of power for the machines.Advertising We will write a custom essay sample on Comparison of electric and gas-powered vehicles specifically for you for only $16.05 $11/page Learn More These investigative and development processes have led to the emergence of electric cars as possible replacements of gasoline/diesel-powered cars. This essay seeks to offer a comparison of electric and traditional fuel cars. To this end, the initial part of the paper shall dwell on the similarities and differences of the two types of cars. Afterwards, the merits and demerits of each of the two systems shall be provided before a conclusion is drawn regarding which of the two systems is better in terms of efficiency and convenience. Similarities and differences between electric and gas cars Electric cars and traditional gas-powered vehicles look similar from the outside. They generally have similar wind-resisting shapes and share common features such as side-mirrors and indication systems. Their interiors are also generally similar, each being equipped with a steering wheel, driving pedals and regular car seats. However, this is where the similarity stops. When one moves to the engine system, the first revelation is that electric cars only have one moving part-the motor [1]. The motor is powered by a fitted rechargeable battery pack and it propels the drive train causing the car to move. Gasoline cars, on the other hand, are powered by internal combustion engines, which derive power from the combustion of gasoline/diesel. Unlike electric cars which come with a huge battery pack, gas-powered cars have a fuel tank, which mostly goes under the car, behind the back seat. The internal combustion engines also require some electric power to start hence the reason why the cars using these systems are fitted with small batteries connected to spark plugs and whose intention is to ignite the fuel. Their engines are very complicated and have hundreds of moving parts, starting from the pistons to other minute rotator valves regulating the inflow of fuel into the engine.Advertising Looking for essay on land transport? Let's see if we can help you! Get your first paper with 15% OFF Learn More Gas-powered engines release emissions, which are let out to the air through an exhaust/tail pipe. In contrast, electric cars do not release any emissions, and are, therefore, not fitted with tail pipes. On the body of the vehicle, electric vehicles are fitted with a recharge socket, into which fits a special electric plug. Gas-powered cars have a pipe that connects to the tank with an ope ning fitted on the body of the vehicle for easy access. Pros of electric vehicles/ cons of internal combustion engines Electric cars have a number of advantages over traditional internal combustion engines [2]. Top on the list is the fact that these vehicles are very energy efficient. Electric vehicles convert approximately 60 percent of the energy stored in the battery packs to power that runs the wheels. Petrol-powered cars only convert approximately 20 percent of the energy contained in the fuel to energy driving the wheels. Another advantage that electric cars have over internal combustion engines is that they are very environmentally friendly. Electric vehicles do not emit any gaseous discharges like those powered by traditional. If the power used to charge them is obtained from power plants run by wind, solar and water, the entire process from power-generation to usage in driving is 100 percent clean [3]. Electric vehicles are also better in performance than those powered by i nternal combustion engines. The cars powered by electricity run quietly and have a better and stronger acceleration rate than those that run on petrol and diesel. They (electric cars) are also cheaper to maintain because they have very few moveable parts. Finally, electric vehicles contribute greatly to a reduction in energy dependence. For many years, car users have had to depend on a limited number of sources of energy to power their engines. This has had the drawback of paralyzing the transport industry once the supply of oil goes down. The entry of electric powered vehicles comes in to bridge this gap making socio-economic systems run efficiently. Pros of internal combustion engines/ cons of electric vehicles Internal combustion engines also have some significant advantages over electric vehicles. Top on the list is the fact that gasoline/diesel powered engines have a long driving range. A traditional vehicle once filled up with fuel can travel over 300 miles before the need to refuel. Electric vehicles when fully charged can only drive for anything between 100 and 200 miles before they are recharged [1]. This makes the internal combustion engines safer to use when going for long-distance journeys and more so in remote areas where there is an irregular penetration of electricity supply. The second advantage that tradition cars have over electric vehicles is that the recharge time for the latter is very long. Normally, it takes anything between four and eight hours to fully recharge the battery pack of an electric car.Advertising We will write a custom essay sample on Comparison of electric and gas-powered vehicles specifically for you for only $16.05 $11/page Learn More Even an average quick charge, which fills up 80% of the battery pack, takes at least 30 minutes [3]. In contrast, it takes less than five minutes (depending on the capacity) to fill up a car with petrol or diesel. The battery packs that supply the driving power for electric cars require a considerable amount of space in the vehicle and are generally quite heavy. This causes the vehicle to dedicate a considerable percentage of the generated energy to the battery weight. The batteries also need to be replaced after periods of use. Unfortunately, these batteries do not come cheap. In addition, finding a replacement can be a challenge especially in countries where the use of electric vehicles has not been well embraced. Summary and Conclusion This essay had set out to offer a comparative analysis of electric vehicles and traditional gas-powered cars. A list of similarities and differences was offered before the discussion delved into the strengths and weaknesses of each of the two types of vehicles. It has been shown that the two types of cars have similar body and cabin designs. However, their differences come in their engines and associated features such as battery packs and fuel tanks. Electric cars have also been indicated to be more efficien t and cheaper to maintain than traditional petrol/diesel powered cars. The traditional vehicles have the advantage of going long distances without the need to refill and take a short time to fill up. In conclusion, it should be noted that even though electric vehicles appear to have more strengths than traditional vehicles, it might take time before their use becomes common. This is because it will take some time for the installation of recharge stations and maintenance stations. Reference List D. Sandalow, The Electric Vehicle and the Burden of History. New Jersey: Rutgers University Press, 2000. D. Sperling and D. Gordon, Two billion cars: driving toward sustainability. New York: Oxford University Press, New York, 2009.Advertising Looking for essay on land transport? Let's see if we can help you! Get your first paper with 15% OFF Learn More S. Boschert, Plug-in Hybrids: The Cars that will Recharge America. Canada: New Society Publishers, 2006.

Critically evaluate the evidence that Piaget underestimated childrens Essay

Critically evaluate the evidence that Piaget underestimated childrens abilities in the pre-operational stage - Essay Example This stage of development lasts from age two to six. Critics have stated that Piaget underestimated children’s abilities in the pre-operational stage and this is based mainly on the following grounds (a) the child in the pre-operational stage is unable to conserve the relationship between the different dimensions of an event (b) Piaget’s theory held that children in the preoperational stage may be unable to understand object permanence (c) Piaget has underestimated the ability of children to see the world from another person’s viewpoint and referred to this as egocentrism. One of Piaget’s major findings about the pre-operational stage was that children cannot conserve different dimensions of an event. For example, when a piece of clay is molded into two different shapes, the child is unable to understand that although the shape is different, the piece is essentially the same.(Salkind, 2004, pp 249). However, in experiments conducted by Wynn (1992), on five month old infants, the findings appear to suggest that infants may even be able to calculate results for simple arithmetic operations on a small number of items. Human beings may therefore possess innate arithmetical abilities. Similarly, Xu and Spelke (2000) have also shown that when extraneous variables are controlled, infants are able to discriminate between large sets of objects on the basis of numerosity. This suggests that Piaget’s findings may be lacking in some aspects. Piaget appears to have underestimated the timing of development of children’s abilities and one example of a cognitive defect attributed to the pre-operational stage is the inability to comprehend object permanence, i.e, that an object continues to exist even when it is moved out of sight.(Hetherington and Parke, 2003). In examining object permanence, Piaget concluded from his observations that young children appear to view objects as ephemeral entities which are constantly made and unmade

Understanding Terrorism Essay Example | Topics and Well Written Essays - 1250 words

Understanding Terrorism - Essay Example Understanding Terrorism According to the FBI terrorism is the illegal use of violence against people or property to coax the reigning regime, the civilian population or a segment of society in the pursuit of political or social objectives. The Al Shabaab is an extremist group; their actions do more harm than good and show why terrorism cannot be justified no matter the cause. Q2 There are diverse classifications of fighters centered on their devotions, ways and means of combat, whereby a terrorist is one who uses fear, that is, terror, to achieve their political and social goals. Whiles a revolutionary is one who believes in an over haul of the government and in the way people think. Therefore, a revolutionary does not necessarily resort to violence although many revolutions have been characterized with a lot of violence as was seen in the French revolution and the Arab spring. A freedom fighter is one who strives to acquire freedom of his social group who he believes is oppressed by the reigning government . When struggling for liberation in Argentina, Che Guevara resorted to violence however not all freedom fighters will choose warfare as their style of combat. Guerillas combat in small crowds if possible under cover or at nightfall choosing for an autonomous and lopsided style of aggressiveness. Their smaller units enable them to strike faster and escape before their stronger opposing forces can organize a counter attack. A terrorist can become a guerrilla but not all guerillas are terrorists as the Philippine forces resorted to guerilla tactics during the Vietnam War (Kramer 98). Terrorist action is the use of fear to achieve sociopolitical ends. Q3 A relationship has been observed between terrorism and the level of freedom within a regime, an authoritarian regime is more likely to experience acts of terrorism than a liberal regime (Cinar 3). The feeling of oppression and denial of human rights is all the motivation required to resort to violence but there are cases of liberal gove rnments facing terrorist activities. Polish workers demonstrated against the regime of Wladyslaw Gomulka In 1970 because of the government’s continuous oppression of opposition views due to the poor working conditions and the (Shlapentokh 171). In 2011, the Arab spring revolution occurred and saw several Arab leaders face disapproval and removal from power due to their human rights violation. Muammar Gadaffi of Libya faced the revolt of his people due to gross human rights violation. In Syria, there are daily riots as revolutionaries and freedom fighters resort to guerrilla tactics and terror to remove the incumbent president Al Assad who they accuse of using excessive force to silence his critics within the country. The leading motive for the terrorism seen in liberal countries is the failure of appropriate application of the philosophies of democracy. Ethnic terrorism is the main form of terrorism observed in liberal democracies as ethnic or religious minorities feel that t here are not given equal treatment, their values are not respected (Cinar 5), or that there is cultural erosion of their culture for the dominant group such as the September 11 Airline smash of the Twin Towers by Bin Laden. One of the grievances of the Al Qaeda group is the spread of western values and culture that is eroding Arabic culture as well as the development of America the expense of their own countries. Spain a country known for its good