U.S. Dollar Exchange Rate And Oil Price

Both U.S. Dollar exchange rate and the oil monetary value are foremost variables which coerce the patterned advance of the universe economic system. Fluctuations in these variables deeply affect international trade and economic activities in all the states. Determination of the nexus between these cardinal variables is one of the critical issues, whether they are correlated or non. Is at that place any empirical grounds on the nexus between the variables? In this literature, I initiate by appraising all theoretical grounds that could clarify the relationship between U.S. Dollar exchange rate and oil monetary values. To get down with, as oil monetary value and oil trade is denominated in United State ‘s Dollars, motions in the effectual exchange rate of U.S. Dollar impact the monetary value of oil as alleged by all states outside United States. Therefore, fluctuation in the dollar exchange rate can arouse alterations in demand and supply of oil, which cause alterations in the oil monetary value. Second, the opposite tendency can besides be found, i.e. , oil monetary value fluctuation trigger alterations in effectual exchange rate. The ground can be found in the literatures on the effectual exchange rates. In the theoretical account proposed by Farquee ( 1995 ) , if a state stocks foreign assets, its effectual exchange rate appreciates and this motion occurs without hindering its current history balances. This is due to the ground that capital income absorbs the loss in trade grosss induced by the deteriorated fight. Change in oil monetary value affects all the universe instabilities and this induced alteration in international assets may hold an impact on effectual exchange rates of different states of the universe. Last but non the least, I take aggregation of different portfolio theoretical accounts, most significantly the 1s by Golub ( 1983 ) and Krugman ( 1983a ) which are developed to account for trade and fiscal interactions such as assistance and grants between United States, oil manufacturer states and the remainder of the universe particularly Europe. The comprehensive study of theoretical and empirical interactions between the two cardinal variables opens the manner for every possible nexus between the two variables either negative, positive and in both waies of causality. If there are some theoretical grounds for every possible nexus, so one has to be stronger than others. Therefore, the inquiry is to unknot the alternate theoretical account by facing to the informations. I hence, conduct an empirical survey of the relationship between dollar existent effectual exchange rate and the oil monetary values over the period straddling from 2007 to till day of the month. Prime focal point is on the long term relationship between these two vital variables. Among the possible account reviewed, the one affecting the equilibrium exchange rate is the exclusive account which fit the found relationship. The possible continuance of a long-run relationship between the dollar effectual exchange rate and oil monetary value assume causality between these variables. Earlier surveies show a causality way from oil monetary values to the U.S. dollar ( Amano and van Norden, 1995 among others ) . However, there are some statements which justify opposite way of causality i.e. , from U.S dollar to the oil monetary value. In this literature, I study the two types of causality and seek to measure the resulting of the relationship which determines the tendency of motion. The effectual dollar exchange rate has significant impact on the demand and supply of oil since it had influence on the monetary value of oil. The depreciation in the dollar reduces the monetary value of oil in the local markets of the states holding their several currencies under drifting exchange rate like Japan or Euro Zone. The states which have pegged their currency with the dollar have impersonal affect such as China. Generally, a lessening in the dollar exchange rate reduces the oil monetary value in the local markets of the consumer states. The lessening in monetary value of oil finally increases the demand for oil monetary value. This can be stated that dollar depreciation has positive impact on demand for oil and this addition demand contributes towards the rise in the monetary value of the oil. Oil companies use local currencies of manufacturer currencies to pay the fiscal liabilities and current fiscal duties such as rewards, revenue enhancements and other runing cost. These currencies are frequently linked or pegged to the dollar due to the fact that they fall in fixed-exchange rate governments adopted by most manufacturer states ( Frankel, 2003 ) . The alterations in monetary value of oil due to the alteration in the dollar exchange rate is less as estimated by the manufacturer states than estimated by the demander or consumer states. Necessary boring activities are linked straight to the oil monetary value. When oil monetary value addition, oil production besides addition by the manufacturer states to gain extra net incomes. This fact has been proved by different empirical surveies in states like North America, Latin American and Middle East. But this fact has non been proved true for African and European states. It is of import to that the relationship between boring a ctivities and oil monetary value in dollars has well changed since 1999. But it is difficult to happen that whether this alteration occur due to the debut of Euro currency in 1999 or due to the decrease in oil monetary value in 1998. Depreciation in the dollar monetary value novices rising prices ensuing decrease in the income of oil manufacturer states, the currencies which are pegged to the dollar. All the states are non affected in the say manner, states which mostly import from USA like OPEC is less affected than states than states which imports from Europe or Asia. Overall, depreciation in the dollar monetary value may cut down the supply of oil. On the short tally, supply is less or decrepit elastic to the monetary value in upward and downward way. The upward weak flexibleness is due to the production restraint and the downward flexibleness is weak due to really little fringy cost. Demand is besides inelastic in the short tally due to the deficiency of replacements available in the short tally ( Carnot and Hagege, 2004 ) . In short, demand and supply of oil in short is about inelastic in the short tally. Noticeable alterations in the supply and demand are chiefly discernible on the long term period. At this phase supply is more elastic due to the capableness of new investing and demand is more elastic due to the handiness of close replacements. By and large, a dollar effectual exchange rate depreciation cause an addition in the demand and supply of the oil significantly merely in the long tally, which tends to increase oil monetary value. The early old ages of 2000 ‘s period are an first-class illustration of this mechanism. Hagege and Carnot ( 2004 ) underlined that the addition in oil monetary values stems from two coincident factors on the one manus, incorrect appraisal of utmost demand for oil from United States and China. On the other manus, decreasing investing in the oil sector causes stagnancy in the capacity sweetening of oil supply. If this mechanism of demand and supply can right explicate the state of affairs of 2000s so this mechanism is unable to account for the relationship found in different empirical surveies. There are several groundss and grounds to believe that oil monetary value could impact dollar effectual exchange rate. Most frequent account of this impact that oil bring forthing states prefer fiscal investing in dollars ( Amano & A ; van Norden, 1993 & A ; 1995 ) . This model, explains that a haste in the oil monetary value boot the wealth of the oil manufacturer states which in bend addition the demand for dollar. Another account of this impact of oil monetary value on exchange rate can be found in the theoretical accounts such as Farguee ( 1995 ) and BEER theoretical account proposed by McDonald and Clark ( 1998 ) . In this attack, two independent variables are often used for explicating the exchange rate i.e. , net foreign investing and the footings of trade. A speedy initial concluding leads to a negative relation between oil monetary value and the dollar exchange rate. Addition in oil monetary value should deteriorate the United States footings of trade which consequences in t he dollar monetary value depreciation. A more comprehensive account would let explicating the positive relationship normally found in the literature by taking in history the comparative consequence on the United States compared to its trade spouses. If United States is an of import oil importer, an oil monetary value addition can deteriorate its state of affairs, nevertheless, if US import less than some other states like Japan or Euro zone, its place may good better compared to the other states. In this state of affairs, addition in the oil monetary value would take to the grasp in the dollar monetary value comparatively to the hankering and the euro, finally it leads to grasp in effectual footings in dollar. In an attack proposed by Krugman ( 1983a ) uses a vivacious symmetricalness of model to pattern how manufacturer states use the gross of their oil exports in dollars. Change in demand for dollar will impact the dollar exchange rate. The proposed theoretical account can be expressed mathematically as:Ten = CYWhere Ten = Oil monetary value denominated in dollar Y = Effective exchange rate of dollar C = Correlation Co-efficient This theoretical accounts help to find the correlativity between the oil monetary value and the effectual dollar exchange rate, either it is positive, negative or impersonal. This theoretical account besides explains the short term and long term impact of oil monetary value on the effectual exchange rate of the dollar and frailty versa. This empirical survey use monthly informations of oil monetary value denominated in the U.S dollar. Oil monetary values are expressed in existent footings and the exchange rate of dollar is effectual exchange rate. This survey tests the hypothesis at 5 % degree of significance. Hypothesis to be tested is as follows: Ho = There is a no correlativity between the oil monetary value and effectual exchange rate of dollar H1 = There is a correlativity between the two variables. Ho = There is a negative correlativity between the two variables H1 = There is positive correlativity between the oil monetary value and effectual exchange rate Above hypothesis are tested by Spearman rank correlativity utilizing SPSS, renowned statistical package. Data for this variable is collected through different beginnings such as Central Bank of Germany, Data Stream and Economagic which maintain the monthly norm informations of oil monetary value, effectual exchange rate and international gold monetary values. Sample size is of 42 values from each class. Oil monetary values and gold monetary values are denominated in the US dollar. Apparent observation of the natural information indicates the positive relation between oil monetary value and effectual dollar exchange rate.TestingThe testing of the hypothesis is done through SPSS v.16. Econometric technique of Spearman Rank Correlation is applied as it falls in the categorization of non-parametric trial. The consequences of econometric analysis shows that there is a medium positive correlativity between the oil monetary value and effectual exchange rate of dollar as co-efficient of correlativity is 0.316 which means that 1 dollar or 1 percent addition in oil monetary value will increase 0.316 % in the effectual dollar exchange rate. The oil monetary values show more variableness as compared to the exchange rate. The graphical presentation of the original information is as follows:Graphic Presentation of Oil Price and Exchange RateAbove graph shows a general positive tendency between the two variables over the period crossing from January 2007 to October 2010. The graph besides reveals greater variableness in the oil monetary value and less in the exchange rate. The variables are assigned as OP referred to oil monetary value and ER referred to effectual exchange rate of US dollar. The tabulated consequences show that there is a somewhat negative correlativity between the oil monetary value and gold rate. If oil monetary value addition by 1 % gold monetary value will diminish by 0.05 per centum under the influence of oil monetary value. The graphical presentation of the original values of oil monetary value and gold rate are as follows: The tabulated consequences show that there is little positive correlativity between the gold rate and the oil monetary value which means that 1 % addition in the exchange rate gives 0.085 % addition in the gold rate. The graphical presentation of the original informations of gilded monetary value and the exchange rate is follows:DecisionIn this literature, I have tried to happen the nexus between the US dollar effectual exchange rate and existent oil monetary values. Overall this survey focal point on merely the US dollar effectual exchange rate and existent oil monetary values but subsequently one other critical factor besides included in the theoretical account which helps to happen the corresponding dealingss between the variables. This survey shows that there is a important relation between the existent oil monetary values and the effectual exchange rate. In the short tally, consequences may be reverse but in the long tally consequences are in support of earlier surveies, which c oncluded that there is positive relationship between the exchange rate and the effectual dollar exchange rate. The fluctuation in the oil monetary value is far more intense than the fluctuation in the oil monetary value. This phenomenon is evident through the tested results and the besides in the graphical presentation. The adjustment velocity of effectual exchange rate is less than the oil monetary value. Results besides reveal that addition in the oil monetary value will increase the net foreign assets of the United States of America. The states whose currency is pegged to the US dollar will endure less with the addition in the oil monetary value and those states who falls in the floating exchange rate is affected more. The consequences besides reveals the of import fact, which is that the United States of America is basking the benefits of low monetary value and cheapest oil based energy over the period of more than half century as oil monetary value is denominated and traded worldwide in the US dollar. The addition in the oil monetary value will increase the demand for more US dollars to purchase the same quantum of oil and this increased demand will impact the exchange rate of the state with regard to the US dollar and this addition the import measure of the several consumer states and the manufacturer states will bask the benefits of more wealth.

Dramatic irony in Of Mice and Men Essay

The major irony in Of Mice and Men is that George kills Lennie because of their friendship. George kills Lennie to spare him from a worse death. George complained about Lennie and his defects, but realizes his importance only after his death. Once Lennie is dead, George loses the weight of responsibility Lennie caused him, but he is also lonely. Also, Lennie and George’s dream to own their own farm that is carried out throughout the novel dissapears with Lennie’s death. George and Lennie dream of owning a little farm of ten acres with a windmill, a little shack, an orchard and many animals. The dream keeps them going and makes their work easier but also solidifies their friendship. The dream that leads them on will die with Lennie’s death. The dream of Lennie and George is one of the types of American Dream popular in American fiction. Their dream is that of wealth and land, the desire for a home, and to work their own land. For Lennie in particular it is to have responsibility for once, to look after the rabbits, and to finally have a sense of self worth. Yet the irony in Of Mice and Men is that the dream seems a mirage, it will not be achieved. George and Lennie try to deny their social class and role in the world, but the outcome will prove this dream to be unreachable. George and Lennie only own their arms and the friendship between them. Lennie’s retardation causes irony in the novel. Despite the fact that Lennie is fundamentally good, a grown child, he harms those that surround him. This can be seen when he kills the mouse because he stroked it too hard. Yet, the killing of the mouse was caused by his affection for it, and his liking its soft fur. Similarly, he kills the puppy, and eventually Curley’s wife. All these acts occur not due to hatred or the intentional desire to harm, but due to his childish affection, and love for the mouse, the puppy and Curley’s wife. Lennie is simply too slow to realize his own strength and his retardation is the cause of his death. Despite the fact George tried to keep him out of trouble, Lennie eventually puts himself in a situation from which he cannot be saved. All Lennie can do is kill him to avoid him a worse fate. Ironically, it is also love that causes Lennie’s death. George kills him to save him from linching. And once again, their is irony in George’s situation  at the end of the book. Despite the weight Lennie was to his friend, because of to his mental retardation, George is alone and lonely at the end of the novel. Through these feelings he realizes the worth of his friendship with Lennie, that was greater than the problems caused by his retardation but that still caused his death. Loneliness troubles many characters in Of Mice and Men, including Candy, Crooks, Curley’s wife, and Slim. Their desire for human company makes them human and makes George and Lennie unselfish and good in their friendship that is stronger than their social condition. In Of Mice and Men, the fundamental irony is that no matter how elaborately George and Lennie plan their future, and regardless of how strongly they hope and dream their plan wil not happen. George and Lennie are forced to work the land of others, dreaming for the day they will own their own farm. They work hard to reach their dream, yet the effects of Lennie’s retardation, despite him being good, will cause them not to achieve their dream. George and Lennie’s friendship is what makes them unique, yet did not stop their sad destiny. Despite the fact that Lennie is a weight for George, George always ends up defending him but cannot do anything to save him in the end and his forced to kill him. He kills him for love and this is another element of irony in Of Mice and Men. But once Lennie is dead, George is lonely and despite his attachement to his dream of owning a farm he has to realize his dream has died with Lennie, because it was their dream, not his own.

U.S. History 1919-1945 Notes

U. S. History notes Red Scare 1919: I. Mass hysteria II. Why: unrealistic irrational fear. A. Expectations up and down: 1. Prosperity: People are doubling income (1915 income: 408$ yr to 1920 835$ year) 2. Post war recession B. Super patriotism/Slackers (you’re a slacker if not a super patriot) 1. Committee for Public Relations (C. P. I. ) (Creel Committee) – Read propaganda papers, pushed conformity and supported Boy Scouts for war. 2. Espionage and sedition acts A. Clear and present danger: speech that presents this is not protected. cant yell fire in a theatre as a joke when there is no fire. Not protected by amendment). 3. Radicals: A. Industrial workers of the World (IWW): nicknamed Wobblies. Loudmouth aggressive workers, and when on strike did it vigorously to prove their point. Opposed WWI.Persecuted, charged with violating sedition acts, shut down and some thrown in jail. C. 1919 Incidents (convinced people that there are threats everywhere) 1. Bombs (mail bombs , one goes off in A. Mitchell Palmers yard so he constructed the Palmer Raids. People that went on strikes considered radicals). 2. Strikes A. Boston police: (19 police got fired for joining AFL so rest of boston police walked off the job) Coolidge convinced them they could not strike and had to go back to work, and most did. B. Steel: went on strike for higher wages, and better working conditions. C. Coal: went on strike for higher wages. 4. Centralia Massacre 11/11/19 * Wobblies thought they were going to be attacked so they opened fire on a parade that was taking place for Armistice Day. Wobblies kill a few men, allWobblies come out except for Wesley Everest who came out of the building firing at police killing one and he was eventually killed. (He was thought to be a crazy radical and a hero by some) III. Palmer Raids, Dec. 1919, Jan. 1920 – Thousands of immigrants are rounded up in cities from coast to coast, deported back to their home country or charged with a crime fo r being suspicious. Some 6-7,000 was rounded up in total. None of these people were charged with a crime when they were picked up, thus making it biggest violation of civil liberties in U. S. IV.End of Scare: May of 1920 the fear of radicals comes to an end. After WWI conformity begins and we lose a lot of cultural diversity. – Palmer (attorney general) creates Anti-Radical Division and appointed Edgar Hoover to lead it and go after radicals. – John L. Lewis: – Harding died in 1923, buried in hometown of Ohio. Had poor judgment of character, but never accused of accepting bribes. His administration collapsed bc of scandals. Harding got sick in Seattle, but a book was written about how his wife poisoned him. Harding: I. Teapot dome II. Lucid Press A. Gaston means, â€Å" The Death of Harding†B. Nam Britton, The Presidents Life – She claimed to be The presidents mistress and have sexual encounters in the White House Calvin Coolidge: – became p resident after Harding died. He was a Puritan, serious individual, and gained nickname â€Å"Silent Cal† for being very quiet and not talking much. Famous quote of his â€Å"They cant hang you for what you don’t say†. He was thought to be mean spirited (Laughed at others discomfort and misfortune). His wife was Grace Goodhue (she taught the deaf & blind), very friendly and positive influence on Coolidge and contributed to his success. Happy as V. P. c he didn’t have to do much. I. Silent Cal A. Bg B. Gov. > V. P. > President C. Cleans house – cleaned out the white house, trying to get rid of the corrupt people. Brought in Harlen Stone to bring back pride in W. H.. D. Pro Business and Capitalism – He kept the concept of pro business, was an old form of Capitalism. II. 1924 election – A. Democratic disarray – Took 100 ballots to elect representative. John Davis was Democrat’s choice. Republicans won. B. Progressi ve Party – supported Gov. Fallett, received over 4 mil votes. Disappeared after 1924. C. Republican majorities III. AdministrationA. Andrew Mellon – Old man, super rich, from Pitt, worked in steel business, owned coal, iron and steel mills. Tried to control aluminum market, didn’t work, but became even wealthier from this, volunteered service to help Republican Party to gain a positive environment. 1. Budget & accounting Act, 1921 – Harding admin. Part of modernization of American govt. 2. Revenue Act, 1921 – Coolidge admin. Established Tax rates, Cut top rate from 75% to 50% ended Excessive Profits tax. Tried to eliminate inheritance tax, didn’t work, doesn’t change lower income tax (realized this was a mistake). . Revenue Act, 1924 – Revenue acts created loopholes, made tax avoidance legal, but tax evasion was illegal. Coolidge Admin. Top rates drop again from 50% to 40%. Thought to trickle down and help the poor, and low ered poor income tax. Trickle down Economics came from these Revenue Acts. III. Fordney-McCumber Tariff Protective – 1922 (tariff is tax on imports) this taxed imports to protect domestic manufacturers. V. Balanced Budget 5. McNary-Haugen Veto, 1927, Over Production – estab. Commodity prices so farmers could make a profit. Congress passed this and Coolidge vetoed it. Controversial veto) Farmers started supporting other political leaders. 6. Hoover & Dept. of Commerce Consumerism Cont. I. Theory & structure: – Welfare capitalism: Trying to get better working conditions. II. Business as Religion – Bruce Barton III. Labor Reforms A. Taylorism * Frederick Taylor & two-motor studies B. Cellular Work Force: manufacturer’s organized their workers into groups called cells. Policed themselves, making it easier for people at higher position to have less people to watch over C. Pergs: Received bonus’s and pay raises for good work and got pe nsion plans.D. Company Unions: Yellow Dog – administered perks that went to union worker, not considered a real union group. * Councils: organized work force and dealt with stuff below management and relayed info. * Sports Teams: organized sport venues across America. E. Class Consciousness 1. Family structure a. Who works: husbands, wives, and kids do when they grow up and are old enough. b. Kids: Early childhood they sold goods to make $ for family. c. Gender roles: different sexual roles between men and women and cultural naturalism of sex. 2.Middle Class Reformers: thought if middle class family’s had less kids they would gain a better middle class status. Settlement houses 1. Hull house: ran by Jane Addams, middle class woman, supported by philanthropy. Helped uplift working class. 2. Assimilation goods a. Class: taught English, etiquette, daycare for kids, abuse programs, and cleanliness b. Ethnicity: Different ethnic groups go about their lives differently and e njoy different leisure activities. I. Auto Industry a. Sig 1. 20th century 2. Spin offs a. Steel production rises b. Closed cars (glass and leather) c. Rubber production increases d.Gasoline production increases and 4 strokes is mainly used for cars. e. Road: smoother roads were demanded. By 1920 $1billion dollars a year spent on new roads and $400 million a year on road maintenance. 3. Proliferation a. By 1912 – car sales are 150,000 yr. b. By 1921 – reaches 1 million a year. c. By 1930 – 23 mil. Sold and 1 in 5 people own a car. B. Henry Ford 1. Model T – prod. In 1908 and Model A produced in 1928. Added color to cars in 1928 due to competition. Sued a parts dealer bc Ford used the crates that the parts came in to build his model T car and they were randomly changed by the dealer who had no clue he used the wood. . Production efficiently and mass-produced on assembly line to help cost, wages and efficiency better. 3. Cost was 300$ a day and wages were 5 $ a day. C. William Crapo Durant, GM – financier/investor not a banker A. Buick, 1904 B. 1910: Ads Oldsmobile, Pontiac, and Cadillac. C. Added Chevy (cheapest of these brands); acquires suppliers such as fisher body, Remy electric and DELCO. Cars at this time were self-starters, no keys used, just crank the engine and go. D. GMAC – General Motors Acceptance Corp. loaned you the money so you could buy a GMC. E. 1929 & Depression: Crapo lost GM and Durant owned it.Crapo had the idea of building a super market, putting everything into one big warehouse to make it more convenient, but before his idea came to life he died in 1933. D. Impact of Cars 1. Accidents and Death: 30,000-40,000 deaths a year. 2. Pollution: invisible pollution from 1920-60’s was terrible due to lead in the gasoline. Removed from gas in 1970. 3. Morality – people’s morals changed w/the use of more cars. (Lovers lane, social events, statutory rape) 4. Autonomy: traditional; car s gave people more individual and reinforced their autonomy. Cars are so culturally significant and reinforce individualism.IV. Radio Advertising: first mass media, by 1927 radio sales reached 20million plus a year. A. Psych Ads > behaviorist psychology: looking at people as a mass society, studying people and stimulus, measuring a response scientifically. Stimulus ad is a buying response. B. Radio: mass media – KDKA, 1920 – commercial station – 500 & 1922 – 500 radio stations across the country. 2 years and radio blanketed America. – NBC, 1926 – first radio network. Formed by RCA, General Electric and Westing House. By 1926 conglomerates start to squeeze out the independent radio station owners. Amos and Andy, 1928: comedy radio show, black ethnic humor. 1st show that acquired a single sponsor (Pepsodent toothpaste) C. Planned obsolescence – used engineers to create certain products. – Tech Shift: continually buying new technology products. Not really a new product, just a way to stimulate the economy by making people want to buy something new. Immigration & 2nd KKK I. Old and new immigration – Old immigrants were 19th century ones coming from Britain, Germany, Ireland and other Northern Englanders. New immigrants came from southern and eastern Europe (Italians, Russian Jews (Pale), and Slavs and Greeks).II. Nativism & Restrictionist – A. Origins: 1. late 19th century 2. red scare: immigrant radical scare 3. Eugenics: fake science, ignorant people claiming a false fact. A. Madison Grant, â€Å"The passion of the Great Race, 1916† – refers to (WASP) White Anglo-Saxxon People who are going to ruin and change American culture. B. Anti-Semitism rises (anti-Jew) – III. KKK A. Rise in Atlanta, 1915 1. Col. Simmons – Runs the KKK 2. Birth of a Nation, 1915 – First recognizable movie. About American Civil War. KKK depicted as heroic in a sense. D. W . Griffith created movie reels and he’s a filmmaker. 3.Edward Clarke – comes up with KKK costumes and KKK words. He’s in it for the money and business. B. Peak 1924 – peak of the KKK. 4. 5 Mil members and dominate 7 states (Ok, Cal, Chi, Ind. are a few) 1. Political Clout – 2. Rural and Urban C. Fall 1925 1. David Stinson, Indiana – friend of Indian govt. Ed Jackson, used KKK to enrich himself, raped secretary and she tried to poison herself and died a few weeks later and Stevenson charged w/2nd degree rape and murder. This was tied into KKK. 2. Other Factors IV. Restriction Legislation A. 1917 Immigration Act – starts process of restricting certain immigrants. . Head Tax – not free to move to America. 8$ was the head tax. 2. Literacy Test – proving you can read and write in a language. Didn’t want mentally incompetent people coming into the country. B. Quota Acts – limits foreign-born number of immigrants. 1. 1921 Immigration Act – 358,000 accepted (3% of 1910 census) (200,000 were N. W. Englanders). These were the new immigrants from S. E. Europe. 2. 1924 Immigration Act – 150,000 accepted (2% of 1890 census and 132,000 could come from N. W. Europe) CRIME AS ENTERTAINMENT I. Leopold and Loeb, 1924 – smart genius kids, lived in San Fran.A. â€Å"Perfect Murder† – Bobby Franks was the 14 yr old kid they killed. Led him to a vacant lot and bludgeoned him to death. Leopold dropped his glasses at the crime scene. Police caught them and Loeb cracked first. Loeb was sexually attracted to Franks so that was his reason to kill him and Leopold was convicted as the accomplice. B. Defense 1. Clarence Darrow – Attorney of the 2 and he tried to convince the judge that they were mentally diseased. Became known as the insanity defense from then on. Both convicted to life in prison. C. Spectacle 1. â€Å"The Rope† etc. A film by Alfred Hitchcock based off the Leopold and Loeb murder. II. Hall-Mills murder, 1922-26 A. Rev. Halls and Mrs. Mills – bodies were found in a lover’s lane. No clear evidence of who did it. Allegations of Mills brothers killing them and Hall’s wife had killed them. B. Trial – only evidence here was the love affair between them 2. 1. Politics 2. Pig Woman – Pig farm was about a mile away. Daughters farmer was â€Å"pig woman† bc of her residence and appearance. She didn’t see anything just heard noise of a car/gun fire. Mother claims daughter is retarded and no one ever found out who killed them.C. Spectacle 1. Radio – Halls and Mills trial was played out over the radio for the 4 year duration of the entire event and everyone was acquitted. III. Lindbergh Kidnapping, 1932 – famous pilot who flew around the world. Lindbergh and wife lived out in country. A. Kidnapped, March 1932 – Lindbergh son was kidnapped out of 2nd story room and a lad der and ransom note were left behind. Lindberg paid a ransom, but his son was never returned. B. Trial 1. Bruno Hauptman – German immigrant accused of crime. Wood used to make ladder was from Hauptman house. He was found with some of the ransom money.Found guilty and executed. A year later the baby’s body was found. C. Spectacle 1. â€Å"Trail of the Century† – Charles Lindbergh went into hiding with his wife and they moved out of the country then back to Hawaii in a secluded area where he had to fly to get there. MOVIE INDUSTRY I. Tech Shift – movies offered motion pictures however it was 2D on a flat screen. Nickelodeons were first movie viewing attractions. Movies weaned people from nickelodeons to movie theaters. A. 3D > 2D – 1920’s shift from nickelodeons to movie theaters, attracting people bc its larger a larger than life, moving picture with music.Started in the 19teens and became a cultural phenom. B. Motion Picture 1. Gre at Train Robbery, 1903 – lasted 8 minutes 2. Motion Picture Patent Co. 1918 – Located in New Jersey, tried to create a monopoly around NYC in the movie industry 3. Independents – they didn’t agree the Motion Picture Patent Co. so they packed up and headed west. 1st stop was Flagstaff, Arizona. Settled in a town north of L. A. II. Tinsel town: Hollywood’s nickname. (1912 – 13,000 movie places, 500 in NY. Attendance by 1922 40 million and 100 million by 1930. 1925 Movie industry was 4th largest. Birth of a Nation† recognized as first reel movie, had 12 reels, was hours long, made by D. W. Griffith. ) A. Studios: squeezes true independents out; Paramount, fox, MGM, Republic, United Artist’s & Warner Bros. ) Tried to profit from every aspect possible by vertical integration. B. Stars: typecast people; people gravitated to certain actors. Clara Bow â€Å"it† girl C. Formulas III. Scandals A. Fatty Arbuckle, 1921 – c omedian in movies, despicable in real life, a person is killed of a drug overdose at his mansion, he is charged w/2nd degree murder and his movie career is over. B.Mary Pickford & Douglas Fairbanks – she divorces her first husband and married Fairbanks, her movie career was ruined by her growing old. In 1 movie she played 2 characters at the same time. IV. Censorship A. â€Å"Do’s and Don’ts†, 1924 – limited what was shown on the movie screen. B. Hays Commission – Will Hays enforced censorship; sex and violence (shown euphemistically not realistically). Sex sells so nudity was pushed as far as possible to draw bigger crowds. Golden Age of Sports I. Recreational A. Golf – # of courses tripled in the 20’s. Green fees and equipment fees were required to play. . Private-Elites 2. Municipal – Middle Class (W. C. Fields) B. Bowling: Goes back to the Dutch. 1. Duck Pins – 1st form of bowling, usually they were attach ed to saloons. Not for families at first, men usually went and drank. 2. Gentrification – 1920’s bowling teams went from 5 to 40,000 and it was more family oriented and people went to have a good time. C. Baseball Clubs 1. Urban/Industrial – baseball players were factory workers. Sponsored teams, urban and rural would travel to play each other. 2. Rural – people could just travel around looking for a team to join. II.Spectacle A. Golden Age of Baseball 1. Black Sox, 1919 – Chicago white sox accepted money from gamblers to throw the game and lose in the World Series. * Judge Landis – He had power over baseball to enforce rules keeping it fair and just. â€Å"Juiced ball† – after Landis stepped to power he supposedly juiced the ball making it easier to hit homers. (he kept Negros separate from white baseball) 2. Babe Ruth: 22 Yrs. – in the 1920’s he was a home run king. B. College Football 1. The Gate: 50,000 people watched first game. 20million was spent on football by 10million fans.Bowl games were invented after the sport kept growing. 1902 Rose Bowl started. 1935 Sugar Bowl started taking place at Tulane. Univ. of Chicago was a founder of College football and they dropped it bc of the money and how famous football became and not the college itself. 2. Icons: Knut Rockne & â€Å"Gipper† C. Boxing 1. Promoter: Tex Rickand 1. Dempsey vs. Carpienteir – 1921 – this fight drew $1Million 2. Dempsey vs. Tuney, 1926 – Tuney beat Dempsey by dancing around and not allowing Dempsey allowing to get hit. $1. 8 million in revenue 3.Rematch, 1927 â€Å"Long Count† Dempsey didn’t retreat to neutral corner and a long count was then given to Tuney to get up, which he did, danced around and didn’t allow Dempsey to hit him and he ended up winning. III. Sports & Class A. Working Class Baseball B. Elite College Football – designed to be a microcosm of leadership positions. You have to be tough. Expectations to be brave and go all out. * Amateur Ideal – WASP (ethnocentric) * 1910 NCA is formed to minimize the deaths and injuries around football, enforced rules and eliminated certain plays and added pads/helmets. * 1896 Amos Stagg forms the Western Conference. Referred to as â€Å"Ringers† (non-college student playing football). Now they are known as the â€Å"Big 10†. * NFL formed in 1920’s. George Halas was one of the founders. Became an owner, player and coach of the Staley Bears who changed their name to Chicago Bears. These players were working class men and college players. * In 1920’s College All America team played NFL all starts, but stopped in late 20’s bc NFL was getting to good and it was adults vs. kids eventually. IV. College Football Origins A. Anglo-Saxon Ethnocentrisms 1. Social Darwinism, Gilded Age 1. Herbert Baxter Addams – classic trained scholar A. Germ Theor y† – a democratic germ theory the A. S. take with them wherever they go electing their race. Picking your scholars based on merit, i. e. : meritocracy. (Basically being born into a family of power) B. Tacitus, Germania – history of German tribes, a meritocracy. 2. Saxon Warrior Culture – this warrior type leadership establishes college football (choose the best to be display their talent) V. NEW WOMAN â€Å"1920’s† I. Middle & Upper Class A. Club Women – married women who formed women’s clubs (General Federation of Women’s Clubs forms in 1892. There are 500 members and by 1917 there are 1 million women club members.B. Professional 1. Single – (Unmarried) 2. Role Model or Feminist? – not doing this to represent womankind just doing it for their personal reasons. C. Planned Parenthood – Margaret Sanger, middle class woman who tried to prevent unwanted pregnancies. Aimed at working class. This ends u p being effective to the single unmarried women who stay childless and want to keep the job they have. II. Working Class â€Å"Flapper† – These women was flat chested, wore short dress and smoked cigarettes type of bitch. Rough language, went out at night, danced and had fun times. – Aspired to marry up into the middle class. A.Peiss Thesis – working class women establish the working class phenomenon, trying to reform the working class women. Didn’t work to well so they picked up some of the working class ways. B. Middle Class 1. Freud Popularized – for mental health let your proclivities run free, to much repression results in bad symptoms 2. â€Å"Latent Hypocrisy† – Blatantly expressing ideas they don’t practice. Behavior as well as rhetoric that pushed culture. SCOPES TRIAL – trying to do away with Darwinism theory. Became known as the Butler Act. Teaching Darwinism in school was illegal and this passed in 3 s tates, Tennessee being 1.I. Dayton vs. Chattanooga: Wins this trial. Dayton agrees to be put on trial if Dayton members are present at court. II. The Trial A. Judge Raulston: wanted to get publicity from this. B. Prosecution 1. Hicks and Bryan – C. Defense 1. Darrow & Malone, et al – famous lawyers from past cases. Malone is a sophisticate from NY. III. The Argument A. Prosecution – Limit – limit trial to simple Yes/No questions. B. Defense – Expand – expand the case based on speaking the truth and including constitutional exceptions. Against 1st amendment for speaking the truth. 1. â€Å"Greatest Speech† – C. Decision 1.One Expert – Judge allowed 1 expert witness for future appeals D. The Monkey House – referred to Darrow & Malone’s decision to be the one expert that the judge would allow. 1. Cross-examination IV. Verdict A. Trial – John Scopes violated Butler Act and was fined but never had to pay the fine and the verdict was thrown out later down the road. B. Public Opinion – he wins in the court of public opinion, but was convicted in the court of Dayton. Aime Semple MacPherson I. Four Square Gospel – started a gospel in the suburb outside of L. A. church services were new, strange and she conducted herself like a movie star.Became a minor figure in the 1930’s and died in the 40’s. traditionalist who tried to use modern technologies and it backfired. II. Sensual Debauch – III. Scandal Art & Literature, 1920’s I. Lost Generation – so many ppl were killed and it seemed that generation was lost. Referred to as the high culture A. Why so glum? 1. General Cynicism 2. WWI A. Age of Irrationalism – WWI makes no sense. Tactics were irrational, terrorism started and countries were thought to be a bit barbaric. B. All quiet on the western Front, 1929. Eric Remarque – everyone dies 3. Sartre Existentialism â₠¬â€œ brand of philosophy.It means we exist and that’s all there is to life. Everything (religion, politics, etc. ) is all made up. The only lasting society connecting people is fiction. B. Any Joy? 1. Roaring 20’s 2. Behaviorist and psych C. Lit. A. Sinclair Lewis – critically acclaimed. Fits into cynical idea. 1. Main Street, 1920 – is about a woman who is married well and prosperous, but she is unhappy and runs off to a suburban town. 2. Babbitt, 1922- characterization of midwestern life. Became a midlife crisis story and he desired an affair. He was an unhappy individual. B. HL Mencken – refers to middle class as the booshwazee.He falls off the charts and people get ignored of him in 1930’s (pro Nazi) he continues to edit supporting young writers, promoting the next gen of writers. 1. Baltimore Sun D. F. Scott Fitzgerald – novels are glum and cynical. He produced great American literature. Born in 1896, St. Paul, Minnesota and died in 1940. (Alcoholic). He had many failing business’s. I. Bg. & youth A. St. Paul, 1896 B. Princeton > Army – sent to Princeton where he started writing his first book â€Å"this side of paradise†. 1917 joined army. Didn’t return to Princeton just wrote short stories. II. Zelda Sayre – his wife whom he met while training in the army.A. Southern Belle – B. Nervous Breakdown C. Jazz age couple – â€Å"Scott and Zelda† – they were drunk most of their lives, living the high life, appearing to be frivolous, she got sick, was placed in a care facility so Scott could keep writing and then he died of liver disease due to alcoholism. III. Career: * â€Å"Great Gatsby†, 1925 – secures his literary career. Its about Gatsby whose a WWI vet who acquires wealth. In the end Gatsby dies without accomplishing his goals and dreams. Told by a narrator on the outside looking in. About old money and new money. Sad genera tion story that fits into the lost generation era. This Side of Paradise, 1920 – also about the last generation. * Tender is the Night, 1934 – acclaimed and a movie was made out of it. It’s about a touching, loving family and the husband has a nervous breakdown that destroys the family. Drawn from Fitzgerald’s own personal life. * Short Stories – * Hollywood, 1939 – went to Hollywood to earn more money. He was a scriptwriter. Dies here in 1940, the last one he worked on was farewell my lovely. * The Last Tycoon, 1940 – published after his death. About Hollywood producers, scandals from the 1920’s Hollywood tinsel town era. IV. EvaluationErnest Hemingway: Split-Minded I. Bg. 1. Oak Park, 1898 – close to the prairie, spent all his time in the outdoors and skipped school. He worked for a living all the time, had a salary, didn’t just write. 2. Kansas City Star – was a stringer for the paper, trained as a journ alist from ground up, bc hes an outdoorsman his intellectual curiosity draws him to WWI where he drives an ambulance and participates in some attacks. II. WWI A. Italian Front B. â€Å"The Wound† – He was on the front line when a bomb hit his squad and wounded him in the groin area, this wound was thought to have ruined his manhood by others.He convalesces in a Italian hospital and this was the end of his frontline career. Went from here to Toronto Star. III. Paris A. Toronto Star – B. Expatriates – apart of this group, but also critique’s them. C. Serious Writings: – Men w/o Women, 1920 – (cult of masculinity – refers to flight from domesticity, relates back to Daniel Boone) Manly men doing manly things in a manly way, women are not needed. – In Our Time, 1924 – A Farewell to Arms, 1929 The Sun Also Rises, 1926 – People struggling to find relationships due to tough times, not trying to write about â€Å"t he lost generation† but inevitably was.His phrase was â€Å"The earth abides†. IV. War Correspondent A. Spanish/Civil War – 1. For When the Bell Tolls B. WWII V. Noble Prize, 1954 – he received this, but felt this was a mind block afterwards bc he thought all his work had to be up to the standard of winning the prize. A. Existentialism & â€Å"Old Man and the Sea† – existentialism will push you toward adventures but you don’t have to push it toward tragedy. Old man and the sea is about a Cuban going out on a tiny sailboat and catches a sailfish bigger than his boat.On the way back onto the shore he is attacked by sharks who want to eat the dead sailfish, but fails and when he gets to shore the sharks have eaten mostly all the fish, and the Cuban man stumbles back to his shack feeling hes a failure and felt worthless. The townspeople saw the fish bones and thought of the fisherman as a success even though he was asleep when the peop le were viewing this, not knowing what they had thought. VI. â€Å"The Code† – men doing manly things, being a man in a manly way. This is a way men can preserve masculinity in a real way by doing manly things. Charles Lindbergh, 1902 – 1974 I. Bg. biggest hero of the 1920’s for everyone at this time. A. Minnesota + Washington DC – born in Minn. In 1902. Mother name was â€Å"Lands† and her mom was a dentist. Lindbergh family was very rich. Didn’t socialize well and was left out, had few friends, and his dog was his best friend. Always referred to his dog as his best friend. Moved to D. C. to spend time w/his dad and was around congress and politics. II. Tech & Airplanes – A. Univ. of Wisconsin, 1920 – attended the univ. and had an apartment w/his mom off campus. He had bad grades so he and his mom took time away and went on a road trip to Cali. B.Flying 1. Excelsion in Nebraska – Acquires a excelsior motorcyc le and when he got back to Minnesota he traded it for a Jenny Airplane, then flew it to Lambert Field. 2. Lambert Field, St. Louis – huge aviation place. 3. Flying Circuses – traveled with the circus and did airplane acrobatics, made money doing this. (Parachute jumping, airplane walking, and other ways to earn money. ) 4. Army, 1924 – enlisted in Army Air core. Army had best airplanes and he joined so he could fly the best and fastest airplanes. Received Ceremonial General and Army didn’t want Lindbergh in army bc he didn’t fit into the system. . Airmail, 1926 – Lindbergh’s plane crashed 2x and he took the mail with him when he bailed out. Crashed due to flying into bad weather. Got the name â€Å"lucky lindy† bc of this. III. 1927 A. The Accomplishment – he planned to fly across the Atlantic from N. Y. to Paris. Tried to buy a mono winged airplane, was unable to so he contacted Ryan Aircraft in San Diego to buy one fro m them. St. Louis bankers gave him money to buy it as long as their name was on the plane. His planes name was â€Å" Spirit of St. Louis†. He made the trip in about 33 hours, only being about 20 miles off of the destination in Paris.He flew around looking for the field and people heard him and they parked their cars creating a runway with the cars headlights. B. â€Å"Well, we made it† – what Lindbergh has said when he landed and got out of the plane. said â€Å"we† bc he was talking about his him and his plane that made the trip. C. Why such a hero? – Hero bc he made it, survived, worldwide jubilation, became a celebrity, wrote a book called â€Å"we†. Caused Great Depression I. Structuralist II. Monetarist (Rose and Milton Friedman) A. Depression Cycles 1. Runs and stop payments 2. Positive result B. Federal Reserve 1. Benjamin Strong – one of 12 presidents of a fed.Reserve bank. Dominated fed. Reserve systems. Became defacto chair man of the Fed. Reserve banks. Died in 1928. After he died their was squabbling and fighting to become next president overseer. 2. Bank of the U. S. C. F. D. R. Failure 1. Moratorium (temporarily stopping business) – cause a sensation of banking monetarily by shutting them down for a few months. Hoover proposed this but would not establish it until the next president came to office. F. D. R. declines this and wants to come up with his own idea. 1932-33 no bank moratorium happened and this is when banks failed and 14 out of 48 states only had open banks.Great Depression Stats and Conditions I. Business A. US Steal, ex. – Operating at 19. 1% capacity. In 1928 made and sold 60 locomotives and in 1933 they only sold 1. B. Stock Market – stocks dropped to 11% total loss of $74 billion. Money and wealth disappeared. C. Banks – (5,000) D. Bankruptcy – 86,000 businesses declared bankruptcy and many others just shrank. E. G. N. P. (Gross Nat’l Produc t) – 124$ billion in 1928 and 1933 dropped to 41 billion. Economy shrank by over 60%. Started in ’29 and continues to summer of ’33. II. Families A. Wages – 1928 a family of 4 needs $2000 a year to exist.Making less than this you’re poor. In 1932 average family wage is $16. 21 a week making it less than $1000 a year. %60 of families below poverty line. Almost 2/3 of the U. S. population is poor. B. Evictions – people losing their homes and in 1932 273,000 people are evicted, losing their homes. C. Emigration > immigration – more people were leaving the U. S. than people were entering the U. S. D. Unemployment – 15-17 Million people unemployed and 34 million were affected. (Industrial type of family) For agricultural families they had a family size of 7-8, and 11 million were affected.With this combined 1/3 of the U. S. population was unemployed. III. Why No Revolution? Hitler comes to power in the 1930’s in Europe. No revolution in the U. S. A. Guilt – American population blamed themselves, known as the protestant work ethic. (God favors the rich and hard working, you will be successful if you work hard. If you fail its your fault bc the U. S. is land of opportunity. Citizens are inclined to blame themselves during the depression, thinking its God’s punishment for the behavior that went on in the 1920’s. ) Altruistic suicide – Neil Dunkein came up with this.The father/husband thinks that his family will be better without him bc he is a failure and dragging the family down. B. Radical Heritage C. Business Success A. Alfred Butts – created scrabble and became rich B. Howard Johnson – opened up an ice cream shop that became a successful business chain next to movie theatres and became rich C. J. Paul Ghetto – in the oil industry, his industry didn’t go under like most did. He bought up bankrupt oil companies and became a multi billionaire by c onverting oil factories to gas ones. IV. FARMS – 90% in 1770’s to 30% in the 1930’s and less than 2% today. People are migrating off farms.Declining farm commodities is driving people away. A. Prices drop – wheat is 25 cents, oats 10 cents, hogs and beef 2 ? cents per lb. , corn 7 cents a bushel. Costs a $1. 10 to raise a sheep and sell wool and you can only make 1$ back. Prices are not enough to be sufficient. No profit to be made. Drought comes upon farmers in the 30’s and makes it worse. B. Dust Bowl – refers to a geographic area out in the Oklahoma & Texas panhandle, parts of Kansas and New Mexico. Oklahoma got the image as being from the dust bowl. Long-term thing that pushed people of their land and went out west looking for jobs. Outsiders called those people â€Å"Okies†.V. The Dole – refers to private charity in place when unemployment hits. A. Local Relief – $5. 50 a week from charity a week, 286$ a year in Philly. NY is $2. 37 a week, 123$ a year & Mississippi is $1. 50 a week, 178$ a year. You have to be completely broke (no relatives to live with, no home, no job and if you accept this your kids cant go to school bc your not paying taxes since you have no property bc people pay taxes to support schools). B. Stigma VI. Middle Class Impact A. Psych Burden – Falls on the women, creating a return to domesticity. Returns to wife and mother stayiat home doing housework. B.Street Smarts – finding ways to save money (dine and dash, repairing your shoes on your own instead of buying new ones if falling apart, reusing bed sheets, filling up on as much food for as little as possible) VII. Changing US Attitudes A. Business status decreases B. Family Structure 1. â€Å"Holding their own† –Women holding their own as the domesticity returns. C. Federal Status/Image- only federal action can cure the situation. Acceptance of federal presence in everyone’s live s (G-men come about, FBI ^) D. Changing U. S. Appearance – pollution declines, water and air is cleaner, traffic is less, petty crimes increase.Movies increase as well as gas production. Okie migration, black farmers are leaving the farms in the south. Herbert Hoover – 1874-1964 I. Beginning: 19th century traditionalist A. In 1895 he had 40$, invested it and in 1908 had $4million B. Youth: he was orphaned off from Iowa he went to Oregon at age 7. C. Stanford – B. S. 1895 1. Elected class treasurer, ran for office 2x and won both. Graduated with a B. S. in Geology. D. Hard rock miner – mining through granite, igneous rock, rocks that require blasting and you go 1,000s of feet underground. 1. Nevada: 1895-97 – worked here in the silver boom-mining period.Lost his job when the rush was over, so he didn’t give u, he went to Alaska unemployed. 2. Alaska Gold Rush: 1897 A. Afghan Mine – closed abandoned mine. Hoover investigated and using h is geology skills he found that their was more gold to be found. Goes around and raises 500,000$ to onstruct a deep rock mine. He was successful and they dug out $55 million worth of gold and the investors got a 10$ million dollar profit. With this success he became a mining consultant. 3. Consultant – he became a mining consultant; going around helping mine companies dig in mines and be more successful and sufficient.E. World Travels 1. Boxer Rebellion 1900 –Boxers were rebelling the Chinese emperor about the European influence. Hoover was in Peking China with his wife and saved innocent victims from a burning building. 2. WWI – too old to fight, but is helping out with distributing American soldiers on the line. Serves on Commission of Relief, distributing relief to soldiers throughout the war. Food Admin was set up and it wasn’t doing very well so Hoover was appointed to this administration making it work terming it Hooverizing the administration due t o the success with him in charge. F. Sec. f Commerce – Harding was elected Hoover became Sec. of Commerce. II. Hoover and depression A. President, 1928-32, 29-33 – B. Causes of Depression – Stock market crashed in ’29, Hoover believed not to do anything thinking it would weed out the inefficient and the country will just ride it out. He believes the problems are external rooting from WWI debts such as war debts and reparation, thinking the European weakness was dragging us down. During the depression he was encouraging everyone, keeping businesses open, not striking or firing employees, but he was becoming aware this was doing nothing significant. C. Policy 1.Inaction – did nothing to help the economy until he realized the economy wouldn’t recover itself. 2. Action – By 1929 he enacted a Tax cut on the Ag. Market known as Ag. Marketing Act. This was enactive so the fed came up with $5mil for Ag farmers to purchase excess farm material and store them until the commodity price rose and they could sell it back off. This was ineffective in 1929 as well. Smoot Hawley Tariff was created raising tariff from 50 to 100% meant to be a wall protecting the American economy from the weak European economy. He then enacted a 1 year free of paying off loan payments from the European countries to the U.S. this did not work either. III. Bonus Army, 1932 : Hoover in 1932 enacted the Recon. Finance Corp. – meant to give large corporations 2. 5$ billion in loans in the states to do corporate work hiring workers, making the money trickle down. Doesn’t work either. Doesn’t work. Home Loan Bank Act in 1932 was created loaning money to banks so people could keep their houses, renegotiating mortgage rates and avoid foreclosure. The breathing space of a few months did not stall the foreclosure rates, just stalled it, bc if people still were unemployed they couldn’t pay the banks. Stipulations given to WWI veter ans. A.WWI Adjusted (compensation certificates, 1924) B. Walter â€Å"Hot† Waters – gave fiery speeches at govt. advocating that payments to veterans be paid now not wait unitl the 1940’s. Characterized as leader of the veteran movement. Wanted a march on Washington bc Hoover vetoed this bill allowing vets to be paid early. C. Congress vs. Hoover D. American Legion – veteran organization, they opposed early payment; do not support bonus march on Washington. They support Hoover and his veto of early payments. E. Bonus March, summer 1932 – veterans were mostly homeless, they hopped on trains and hitchhiked and there were in-between 10-20,000 appear in D.C. They flocked to Potomac flats and set up shanty towns/boxes for housing. Requires a structured living quarters. I. Anacostia Flats – some of these veterans move into rundown buildings and factories. When the police tried to remove them they threw bricks and stuff to ward off the cops. 1. Hoo ver image vs. Reality – he was considered to be unsympathetic and hard nosed. 2. Gen. D. MacArthur – Helped assist the Washington police to remove veterans from the buildings w/army warfare and they destroyed the buildings and encampments as well. Looked scary and really bad on the live newsfeed that captured it.Hoover did not order this, MacArthur did this on his own. Hoover criticized MacArthur in private voicing his displeasures. II. Hoover Reviled – Reviled bc his image was him ordering the veterans to me killed and removed when in fact this was not true. Hoover blankets (sleeping on benches covered with newspapers), hoovervilles (living quarters made out of cardboard shacks), and hoover hog (whatever edible food you could find and make or eat) was named while he was president. Last stint as a huge public icon. A. Pop Culture B. Election C. Rehabilitation, 1950 and 60 FDR & New DealsI. FDR – Most dominant political figure in American history, elec ted 4 straight times. He felt it was appropriate and just the fact that he could get elected tells how powerful and influential he was. A. Beginning and youth. He was distant cousin of Theodore Roosevelt. Heritage went back to a wealthy English family that was luxurious and didn’t have to work bc the family had millions. Grew up in the rich community, but he was hard working man who went to a private academy and attended Harvard. Worked as Police Commissioner in NY and served as assistant secretary of the navy.B. Polio, 1921 – attacks fluid in spinal column and kills nerves, paralyzing hips, knees and legs. If moved to you’re diaphragm then you had the aggressive type. Roosevelt had non-aggressive and was paralyzed from the waist down. He caught this when on vacation while on a party boat that housed a dozen or so people. Swimming back to the boat caught his polio after he swam from an island. Without polio he supposedly would not have the same success he would without it. People that voted for him knew he had polio. II. 1932 Election A. Gov. of NY B.New Deal – provide people with a do over, that would rescue the country from the depression. C. Brain Trust – old progressive idea. Means he relies on expert knowledge. Hiring people in fields that are the smartest, president doesn’t know everything of every field. These people were his Brain Trust’s listed below. They were the ones advising him on what decisions to make. He would make final decision of their arguments on certain topics. A. Ray Moley – â€Å"the mole† pro business, wrote some of early speeches for FDR. B. Louie Howe – FDR’s oldest friend. Helped him with rehab and stayed by his side.Grounding to reality type of person to keep him intact with reality. C. Jim Farley – liaison between White House and Democrats. D. Harry Hopkins – Became the face of the New Deal. Head of WPA. E. Rexford Tugwell – Head of TPA. Economics professor at Columbia Univ. III. 1st 100 Days, 1st New Deal – outpouring of legislation. 14 major pieces of legislation were passed. This means congress passed legislation that were not finalized, they were outlined, congress passed them and president Roosevelt ok’ed them. A. First inaugural – the only thing we have to fear is fear itself. Pep talk to not get people depressed. B. FDR StyleA. Pragmatist – mot tied to any ideology, makes decisions based on certain instances. He calls himself this, not publicly, but he thinks of himself as a political quarterback. Make radical ideas until the economy is back to par, and then he will become conservative. B. Final Arbiter – he had the final say so in the cabinet and if you didn’t agree you got out. C. Genius? Yes and No. Wasn’t always the brightest, he was a second class student, but confident in the ideas and philosophies he did have. 1. Intellect 2. Empathy and charisma â €“ people liked him bc he had this, just something that came naturally. D. Use of Media – 1.Fireside Chats – people listed to his speeches by the fire, communicating directly to people in their living rooms. Big power that he used to his advantage. 2. 16 Friends – FDR controlled the press, most of these were paper editors. He used these informal friends to write stories, shave stories for the better and not tell some stories in their papers. 3. Govt. Shorts – refers to short films, promoting various govt. programs. â€Å"The Plow that Broke the Plains† and â€Å"The River†. Appeared in the movie theatres that were in-between movie films. IV. Eleanor’s Role – FDR’s wife. Allowed herself to be used by her husband for political purposes.If he was unsure about an idea how it would play with the public, he would have his wife propose the issue, looking like she would give them the idea, and the President and cabinet membe rs would wait for the press to respond and see how they took the news to know if it would be a good idea. Helped insulate her husband from political fallout when necessary. V. 1st 100 days & 1st New Deal A. Cabinet 1. Henry Wallace 2. Harold Ickes 3. Frances Perkins –1st female cabinet member, lawyer by training. 4. Harry Hopkins B. Legislation 1. Banking Crisis – over 5,000 banks closed and people that had money in them lost it all.A. Bank holiday – declared bank holiday over fireside chats closing all banks for 1-2 weeks. Designed to make the public be less panicky. B. Banking Act – Gives President authority to close the banks. Takes U. S. off gold standard. Paper money no longer tied to amount of gold in federal repository. C. Glass-Steagle Act – June of 1933, reform legislation. Separates commercial and investment banking. Establishes FDIC, still in place today. 1. FDIC – Federal Deposit Insurance Corporation. $5,000 limit at the tim e. 2. National Industrial Recovery Act – 1st solution to recover the industrial industry.Created NRA (National Recovery Administration). A. NRA & Blue Eagle – symbols of politics B. Public works: PWA – NRA oversaw this. $3 Billion went to support PWA projects, paid %40-60, which was labor costs. C. Codes of Fair Competition 1. Title 1, Section 7A 3. Agricultural Adjustment Act A. Goals B. Actions – encouraged farmers to destroy livestock and crops. 1. Short Term – 2. Long term – Estab. program of subsidy to farmers to limit them on their crop growth C. Criticism – burning of crops and killing livestock b/c people are on the streets starving at the time. If you’re going to subsidize farmers farm everyone else.D. Success – stops downward spiral of overproduction. 4. Civilian Conservation Corps A. Goals – Create jobs for youth men – Employs some 300,000 men, segregated B. Program – employ males in t he age range of 18-25 that are married and jobless. 30$ monthly. Doing natural resource work (fighting fires, building buildings, fixing up communities, conservation type work). C. Criticism- CCC men are referred to as Military Brown Shirts. This is compared to things going on in Germany. People assert this to Roosevelt’s private army. D. Success – did a 180-degree swing and became very successful based on the pics.Becomes one of the most popular ideas out of the New Deal. 5. Tennessee Valley Authority A. Goals B. Accomplished C. Criticism D. Success New Deals I. Evaluations: A. Relief: Roosevelt credited w/preserving American democratic institutions. B. Recover: Considered to be a failure. WWII solved the depression not the reforms. C. Reform: put into place regulations, preserving prosperity. Insufficient reforms or to many reforms had be pulled back and repealed? Women and Great Depression I. Family status: A. Marriage: rates decline. Put on hold b/c of uncertainty of the future. B.Divorce: rates decline. Increased in the 1920’s, but collapsed in the 30’s due to having to separate and having a lack of opportunities outside of marriage. C. Births: declining rates. II. Ag Women: A. Rates are down: Ag families having 5-6 kids per family are becoming less. B. Rural Electrification – electricity to the farms were beneficial and helped even during the depression. 1935 1-10 Farms have electricity. 1941 4-10 farms have electricity. III. Working women: A. 1930 Census: 11 million women working constitute 24% of female population and are 22% of all workers at the time. B. 940 Census: 13 million women working constitute 25% of the female population and are 25% of all the workers at the time. IV. Gender Roles and Feminism A. Domesticity is up – the word feminism changes in its connotation. B. Role Models: 1. Feminist’s – Eleanor has an all female staff, gaining training in political world. 2. Traditional – s erving her husband as first lady. Women in sports represented the new woman in the 1920’s. In the 30’s you had to be beautiful and have female qualities if you wanted to be an athlete. All women were expected to be attractive. Depression Hollywood I.Stats – 60-80 movies a week and 500 a year. 1930’s attendance was 10 million. Quarter for adult and 10 cents for a kid. In between movies you saw cartoon, govt. short or other reels. II. Studios: MGM, 20th Century Fox, Paramount, Warner Bros. and RKO are the only studios that survived. Continue in vertical integration and wanted to control everything, working out deals to make profits and show movies in each other’s studios. A. Formula Evolution III. Cynicism in 1934: Hollywood is pushing censorships. IV. Censorship Est. : A. Production Code, 1930 – sometimes called the 10 commandments for movies of what they can and cant do.Violence is euphemistic, human relationships are moderated. B. Movies 19 31-33: by this time the producers are violating their own codes. Brief depictions of female nudity. Scandalous and boycotting are becoming threatening. Uproar is so great that Hollywood takes action, thinking htat if audience wont come then they finally stop with this and hire joseph Breen to view and censor movies from 1934 on. C. Joseph Breen: looks at scripts and tears out the parts that can’t be portrayed. (You can say pregnant in movies, so you say a woman is expecting.You can’t show a woman and man in bed unless one of them has a foot on the floor even if married. Hetero-social circumstances disappear due to the thought of scaring the audience away and losing money. ) Dance/musicals are the only way a man and woman can be embracing and moving in the 1960’s. V. Up Beat A. Hollywood 1934 – IV. Women’s Roles A. Light and Dark – means virtuous woman (light woman) and she always gets the guy at the end. The dark woman (licentious woman) who goes after the guy and gets him for a moment eventually comes to a bad head and he goes to get the light woman.

The effects of globalisation on an organisation Dissertation

The effects of globalisation on an organisation - Dissertation Example 3 1.3 Project Objectives 6 1.4Research Questions 6 Information Gathering and Accounting/Business Techniques 7 2.0. Information Sources 7 2.1.2 Annual Reports, Summary Financial Statements and Corporate Governance Report 8 2.1.3 Textbooks 8 2.1.4 Internet and Media Sources 9 2.2 Research Methodology 9 2.3 SWOT and PESTLE Analysis 14 2.3.1 Limitations 14 2.4 Ethical Issues 15 Results, Analysis, Conclusions and Recommendations 16 3.0 Results 16 3.1 SWOT Analysis 21 3.2 PESTLE Analysis 25 3.3 Financial Ratio Analysis 27 Conclusion/Recommendations 29 Figure 1 30 List of References 40 Research and Analysis Report The Effects of Globalization on Cadbury Schweppes Plc. Part 1 Project Objectives and Overall Research Approach In terms of business practices, globalization refers to the escalation of the â€Å"internationalization of the production, distribution and marketing of goods and services† (Ali 2000, p. 5). More particularly, globalization is the persistent linking of state econo mies (Ali 2000, p. 5). From the perspective of the business organization, globalization means intense competition which can impact the structure of the organization and the way that it produces and markets its goods and services(Czinkota et al 2009). ... From the consumer’s perspective, globalization means an opportunity to choose from a large assortment of goods and services. This also means that in addition to variety, consumers will benefit from a reduction in prices and an improvement in quality. Cadbury Schweppes Plc provides a case study for the effects of globalization on an organization and the responses that an organization is forced to make. The effect of globalization on an organization as a topic for this research and analysis report is justified because globalization changes the way that businesses operate, strategize and market their products and services. All businesses are either passively or actively impacted by globalization (Johnson and Turner 2010). This means that all businesses are forced to reconsider their focus on domestic markets and focus more on foreign markets. The extent of this focus varies from one organization to another. Size, growth, ambitions, brands, opportunities and a number of variables will dictate the degree an organization shifts it focus to penetration of foreign markets. The relevant factors are demonstrated via a case study of Cadbury. The growth directions of Cadbury’s since its inception 200 years ago justifies an evaluation of the impact of globalization on the organization. As we have already discovered, Cadbury’s started out as a coffee shop of sorts and today it is an entirely different company. It went from serving ready to make drinks to manufacturing chocolates. This research intends to discover the extent to which globalization impacted the expansion of products and how those products have been marketed globally. This research will therefore look at Cadbury’s progression on global markets over

US economy state of affairs Assignment Example | Topics and Well Written Essays - 1000 words

US economy state of affairs - Assignment Example With the prospering of a nation's economy, its citizens find themselves in position to posses great personal opportunities. Once that sure footing is lost, in such cases as job loss, then assurances of prosperity become few and far in between and as a result, individuals seek to question the unknown. As of late, the job market woes have become quite problematic, primarily for those individuals throughout the country, who have found themselves without work at some point or another. That being said, the unemployment numbers also become an issue for the very politicians that enact laws and control the flow of things, or at least claim to do so. Many states across the country are being victimized by high unemployment rates, such as California and are seeing those numbers translate into greater issues that leave even the state's general budget vulnerable as well. To further elaborate the power of the US economy, The World Factbook found in conjunction with the website for the Central Intelligence Agency (CIA), seeks to do just that in outlining the general structure of the American economic system. â€Å"The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $46,900. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace,† (CIA, p.1, 2009). Individuals such as private citizens and businesses do in fact wield considerable power when it comes to showing the health, or lack thereof, when it comes to the state of the economy.

Wetted wall column Coursework Example | Topics and Well Written Essays - 3000 words

Wetted wall column - Coursework Example According to Mass balance (also known as material balance), and assuming that there no accumulation of materials in the system, or there is no loss associated with process under which the materials entering the system are undergoing, the mass of materials entering the system is equal to the mass of materials (components) leaving the system (Atkins 1997). See the diagram below. If accumulation occurs in the system, the mass of materials entering the system is equal to the mass of materials leaving the system plus the mass of materials that have accumulated in the system. This can be as shown in the equation below, One of the ways in which mass balance can be studied theoretically is through wetted column. A wetted column experiment consists of a vertical tube in which a gas is flowing either co-current or counter current to a liquid (the liquid has to be volatile in nature) (Sinnott 2007). The interface area between the liquid column (thin film) and the gas can be measured and is usually constant (Dainitiyh 1996). In the wetted column the volatile liquid is usually flowing down the surface of the wetted tube in a very thin film (Kim 2007). From the rate at which the volatile liquid change to gaseous state (evaporation), the coefficient of the mass transfer of the gas phase can be calculated. The rate of mass transfer in wetted column (also rate of evaporation) normally depends on the conditions that prevail in the area (interface) between the gas stream and the thin liquid column (film). In the wetted column, the gas flow is either laminar or turbulent, that is, the flow of the gas is either smooth or associated with ripples at the interface. The mass balance of the materials (in this case water vapour) that are transferred from the film of the liquid to the air along the column (assuming that the transfer has taken place throughout the length of the tube (column)) is

Letter research Essay Example | Topics and Well Written Essays - 500 words

Letter research - Essay Example You may believe that my letter is a pamphlet against the war in Iraq. Mr. President, it is not as I believe the issues are much more complicated than that. I firmly consider that the will to install democracy in a country where tyranny and injustice were the fundamentals of everyday life is a noble cause. Noble not only in the fact of freeing the Iraqi people, but also as we are the World leader, to show the rest of the world that we are responsible and conscious of the issues and problems of the other countries and that we are ready to take action in order to defend the weakest at international level. At any level, one can only help another if the latter is willing to accept this help. Unfortunately, it is not the case in Iraq. We have to admit, however frustrating and deceitful it may be, that we are no longer welcome in Iraq. Our history shows a great record of rescues but we are not in Paris in 1944, where all French people were crying of joy when they see our tanks driving through the Champs-Elyses. The other aspect we have to acknowledge is the astronomic cost of the war in Iraq. To this day, we have spent over $280 billions in war effort. This brings me to the second subject of my letter: the Kyoto Protocol to the United Nations Framework Convention on Climate Change. In 1997, the American Senate unanimously rejected to ratify the treaty. Mr.

The Fair Tax should be Implemented in the United States Essay

The Fair Tax should be Implemented in the United States - Essay Example NSBA was the first small business organization to give a pass to fair tax to apply to all consumers’ goods and services at the consumption final point at 23 percent which is single rate and a retail sales tax that is national. The fair tax enhances the fact that there is the same rate of tax without exemptions and exclusion on every taxpayer. There will be a total tax exemption to those who share on the cost of the government. The tax rate is determined and affected by the rate of purchase. To promote reutilization, the used items will not be subject to tax. In goods and services production, the purchase from business to another business will not be taxable. This fair tax will thus act as a replacement on the federal income tax on individuals, tax on capital gains, tax on self employment, and taxation on gifts and the estates. (Kotlikoff and Laurence, 2005). According to congressional report p 20190, the fair tax of 2003 was introduced to promote fairness, freedom, and economi c opportunity by repealing the income tax and other taxes, abolish the revenue services that are interest, and enacting a sales tax nationally. In another term, the fair tax can commonly be called national sales tax. It is an essential tax reform item and that was unjust to replace it with a tax system that is simple and fairness. 2.0 Explanation of Fair Tax Act The fair tax Act of 2003 would repeal taxation on individual income, taxation on corporations, taxes on capital gains, payroll taxes, taxation on self employment, gifts and Estate taxes in lieu of 23 percent tax on all goods and services final sales. These taxes eradication will bring about simplicity and equality within the US system of taxation. The bill also provides transactions on business to business tax relief. The transactions are not subject t tax on sales including transactions on products and this helps in abrogating double taxation that may arise. Under the bill of fair tax, Medicare benefits and social security would not be touched. To either one of the vital programs, there would be no financial reduction. The trust fund revenue source for the two programs would be replaced by sales tax revenue instead of payroll tax revenue. (United State Congress et al, 2007 p 225) According to Tomlinson Shelly-Ann, (2007), the fair tax act proposed that American would receive a check on money rebate that is equal to spending up to the federal poverty level according to the Department of health and Human guidelines. After the purchase of necessity, the rebate would ensure no American pays taxes. The fair tax act will create fairness and a simpler taxation system and allows all Americans the freedom to determine their own priories and opportunities. The amounts of rebate calculations are adjusted to the inflation account. In order for household to become eligible for the rebate, they would register only once in every year with the authority that administers sales tax. The name together with the social se curity number is submitted by the member of the household. The funds are either a submitted by check via US Email, Electronic fund transfer, or a smartcard which is used like a credit card of a bank by administration of the social securit

English Essay Example | Topics and Well Written Essays - 500 words - 48

English - Essay Example Then it gives a list of the site’s contents that also is the steps that you need to take to write a paper. These steps are decide on a topic, prepare an outline or diagram of your ideas, write your thesis statement, write the body with subheadings on how to do that, write the introduction, write the conclusion and add the finishing touches. This site is intended for ESL learners to help them improve their reading skills, but it can be used by native speakers who want help, too. The site offers several famous texts that you can read through to practice reading skills. What makes this better from just reading by yourself is that these are followed by vocabulary lists, vocabulary quizzes, comprehension quizzes and comments. It also makes graded papers available so that users can see where students have made their mistakes. This helps to make the uses of English understandable. This site is a grouping of lessons related to English grammar. There are six major sections. These are titled word and sentence level, paragraph level, essay and research paper level, ask grammar/search devices, peripherals and power points and grammarpoll/awards. Each section has a list of submenus that are appropriate to the main menu and are all designed to help users learn better

EDUC ASSIGNMENT Example | Topics and Well Written Essays - 1250 words

EDUC - Assignment Example Effects of the policy to professional practice 2.2. Strength of the policy 2.3. Weakness of the policy 2.4. Factors undermining the policy 1. Policy Synopsis 1.1. Identity of the policy This study is a discussion of Federal Australian education policy. This paper will concentrate on the policy we have identified, entitled â€Å"Transformative ICT and Education Policy†. The code reference for this study is ICT4E. It was formed and began operating effectively from June 28, 2005, as an education policy in Australia that is accessible online. The policy is available on the URL http://apo.org.au/node/25007. It is downloadable as a html web page or a portable or protected data file. 1.2. History and background The policy emerged from an analysis of the elements of the current generation. The society was being changed using Information Technology and communication. The Federal Australian government discovered that Information and communication technology favored other important aspec ts of development such as the economy, work environment, residential homes and businesses, the affairs of the government, medical sector and transportation. It however neglected the area of education. The government then decided to make it a policy in country to provide support to the education sector by application of information technology. In 2004, the government began the strategic plan of making the transformative educational ICT policy a reality in the entire nation of Australia (Ball, 2008). In the recent and the current educational sector, the educational policy has been addressing the issue of computer proficiency to transform the students from novices to experts. Students use information technology to share educational resources, to communicate effectively and to socialize with others. The policy offers influential centre stages in the position of advanced studies. This study focuses on improving design at universities. The implementation of the education policy on Informa tion and Communication Technology works in three different levels of priority (Tomei, 2010). 1.3. Aims of the policy The policy aims at improving the education quality among students in the education institutions. The main aim is to ensure that the composition of human resources is highly equipped for quality performance in work places. It also aims at improving the processes of research and educational trainings. This was to promote the green agenda while reducing the cost of document printing on papers. Minimal paper use was seen as a means of protecting the environment from degradation, because it implied reduced cutting of trees (Pelgrum & Law, 2003; Abbott, 2001). 1.4. Funding Arrangement and structure The federal Australian government of Australia identified the financial aspect of the policy as a critical challenge. The challenge was to do with establishment of ICT environments in all learning institutions with the international standards of set up. Funding of the program off icially takes place through Digital learning revolution with an aim to create a direct contact of one on one. The educational sector conducts massive procurement of the devices and softwares at discounted rates, to reduce the size of the budget (Jimoyiannis, 2011). 1.5. Implementation Process Top of Form The implementation of this project makes use of 5 projects to enable teachers as well as the school administration to make the optimal utilization of ICT in the learning environment such as a typical classroom. One of the implementation projects

Research and recommend environmentally friendly elements to be used in Essay - 1

Research and recommend environmentally friendly elements to be used in the construction of a multi storey commercial building - Essay Example These ensure that client satisfaction and deign excellence. The chief task of this paper is to recommend environmentally friendly elements to be employed in the use of the construction of a multi-storey building. Green building is both cost effective and environmentally friendly. Wood is among the core materials used in the construction of buildings. In context to multi-storey buildings, the ratio of steel, glass and concrete, is significantly more. However, this ratio must change while building green. In this endeavor, timber-concrete composite is favorable for this building. It comprises of timber beams being interconnected to slabs of concrete that are then cast on timber members. This introduces cost saving measures and efficient control of building materials.   Ã‚  Ã‚  Ã‚   In context to the roof, clay roofing tiles are the best environmentally friendly option to pursue. Clay is a hundred percent recyclable as such the core rationale for its inclusion as a preferred building material. Owing to their durability, significant saving will be expected. This will be in terms of cost of repair. An additional factor for clay is that an increasing number of clay manufacturing companies are offering post consumer recycled clay tiles. Thus, the roofing system will always be up to date. Painting has been discovered to be among the most toxic chemicals in buildings (RIDER et al., 2011). Therefore, environmentally friendly paint must be used. The paint to be used on the building should be of low or no VOC paint. Natural pigmented paints should be the only paint to be used. As such, Ecosure Matt by Deluxe Trade is the best alternative. A case study conducted on Rimrose Hope CE Primary School explicates on both the sustainability and performance of this natural paint. The normal insulation systems are a product of toxic materials. An environmentally friendly insulation system comprises of blue jean denim. It entirely uses

History Technology 20th Century Essay Example for Free

History Technology 20th Century Essay The role of technology played a huge part in developing our way of life today as we exist. The technology field developed quickly in the span of the 20th century. We had communication technology, transportation technology and the technology that contributed to the advancement of modern science. These all contributed to a better way of living and enhancing our quality of life throughout the 20th century and it continues today. Communications technology played an important part in our evolving culture in the 20th century. Radio, radar, and early sound recording were key technologies that paved the way for the development of the telephone, fax machine and the storage of data. The way we communicate with others is a great tool for our society to evolve and communicate with one another. This helped with the way we developed our relationships with our countries as well by providing a quick way to speak to someone or find someone that is a half way around the world. This technology also helped our economy by providing an important avenue for the way we can do business. We can hold conference calls with multiple parties that were not thought of before. The personal computer was developed in the 1980’s as well as cell phones. The public use Internet was introduced in the 1990’s. With these technologies it gave businesses a chance to enhance productivity and increase our economy and provide us a better quality of life. Transportation technology had a significant impact on our quality of life and the way we become mobile. The combination of the ability to travel by air and automobile allowed people to have unprecedented personal mobility that they did not have before. One of the most notable technologies in the area of transportation came with the space race between the United States and the Soviet Union. This gave a peaceful outlet for political and military tensions of the Cold War. This lead to the first human spaceflight with the Soviet Union’s mission in 1961 and man’s first landing on the moon in 1969. The first space station was launched by the Soviet space program. The United States developed the first reusable spacecraft system with the Space Shuttle program. It was first launched in 1981. The technology that lead to the evolution of the space program for human space travel also allowed for orbiting space probes that have been developed to work with our communication technologies to not only protect us but provide further exploration in the future. The advancement of medicine has allowed us to live longer more productive lives. Antibiotics was developed that drastically reduced mortality from bacterial diseases. Vaccines were developed to protect us from epidemics that caused death. X-rays became a powerful tool to diagnose diseases and broken bones. Imaging was developed to help doctors find better ways to treat individuals. All of the medical advancements from the 20th century have provided our morality to increase not only in adults but young people who did not have the chance at life as they do today. Vietnam War Outcome/Results The war that I choose to discuss is the Vietnam War. This war was a prolonged struggle between nationalist’s forces that were attempting to unify the country of Vietnam under a communist government. The United States was trying to prevent the spread of communism. Many people viewed this war as a no win war. The United States leaders had lost the American public’s support for the war. What many people did not realize is that there had been fighting in Vietnam long before the Vietnam War began. The Vietnamese people had suffered under French colonial rule for over six decades. Japan had invaded many parts of Vietnam which brought the Vietnamese leader Ho Chi Minh back to his country after traveling around the world. He established the Viet Minh. Their goal was to get rid of the French and Japanese people that occupied their land. The French were not willing to give up their colony and fought back. Ho Chi Minh had tried for years to get the United States to support him against the French. He even supplied the United States with military intelligence about the Japanese during World War II. The United States decided to help the French for fear that the country would become a communist country. Viet Cong was established by communist sympathizers in South Vietnam to use guerilla warfare against the South Vietnamese. The United States sent advisors to South Vietnam but the North Vietnamese fired directly upon two U. S. Ships in international waters. This resulted in a resolution that the Congress issued that gave the President authority to escalate the United States involvement in Vietnam. The President’s goal was not for the United States to win but to bolster South Vietnam’s defenses until South Vietnam could take over. Because the United States entered into this war without a goal, President Johnson set the stage for the public and troop disappointment when the United States was in a stalemate with the North Vietnamese and Viet Cong. The U. S. troops fought the war in the jungle where the Viet Cong were very well supplied and set booby traps for the U. S. troops. This became a difficult war to fight for the Americans. The U.S. troops became frustrated at the conditions they were forced to be in that many became angry and some used drugs to cope. The surprise attack that the North Vietnamese and Viet Cong organized against the South Vietnamese cities and towns was the turning point. This proved to the Americans that the enemy was stronger and organized better than they thought. As news spread to the U. S., the American public was unhappy so the President decided that he would not escalate the war any longer. Newly appointed President Nixon wanted nothing more than to end the war. He began the process of withdrawing troops in 1969 and expanded the war to other countries. This move created protests throughout America. The President worked toward a peaceful solution and peace talks began. The cease fire did not happen until 1973 and the last U. S. troops left Vietnam in March 1973. Even though the United States had withdrawn it’s troops, the fighting continued in Vietnam. Finally, South Vietnam officially surrendered to North Vietnam on April 30, 1975. The United States was trying to prevent the spread of communism when ultimately; Vietnam was reunited as a communist country in 1976. This was a war the United States should have never been involved in but the government thought otherwise. [Insert Paper Title Here] [Insert introductory text here] Paper should be printed on 8.5 X 11 inch white paper. Entire paper should be double-spaced. The paper should be clean. The printer should produce letters that are dark enough and clear enough to be easily read. Margins should be 1 inch at the top, bottom, left, and right of every page. Do not justify the right margin, instead leave it ragged by using left justify. Use Times Roman using font size of 12. Type no more than 27 lines of text on each page (not counting the header at the top of the page). References

Benefits and Drawbacks of Divesting Fossil Fuel Company

Benefits and Drawbacks of Divesting Fossil Fuel Company The environmental issues is the main trend that is concerned by most of the organization worldwide. Those concerns spread through the activist group and are affecting financial sector as well. By pressurizing universities endowment fund to divest the fossil fuel companies, the activists urge for the funds to invest responsibly by moving their money out of the non-environmental friendly companies. They aim to indirectly create the new market norms and change the way people perceive those companies which will stigmatized them if they do not adapt to the more innovative and more sustainable ways of doing business. However, the fiduciary duty of the financial professionals is a big issue to be discussed if the fund manager will consider divesting fossil fuel companies on whether there is a conflict on investing responsibly and maximizing profit or not. By the definition of the fiduciary duty, Boatright (2008) explained that A fiduciary duty may be defined as the duty of a person in a position of trust to act solely in the interest of the beneficiary, without gaining any material benefit except with the knowledge and consent of this person. We may need to reinterpret its definition in accordance to the ongoing situation in order to see if we can add the environmental and sustainable elements to this duty without compromising the sole existing definition of the fiduciary duty itself. I have done research on the topics about this, and here are the advantages, disadvantages, and some discussion on the fiduciary duty on divesting from fossil fuel firms. Divesting from fossil fuel companies is likely to yield three main advantages. Firstly, it may encourage the change toward more innovative and sustainable form of fuel. There was a proverb stated that The stone age did not end when we ran out of stones this is to say that when we discover a better form of fossil fuel substitution, it will be no longer the main form of fuel for our world. For example, the development of alternative energy source. By divesting from those companies, we can stimulate them to intensify their research and development in order to move on to more sustainable fuel. After their successful adaptation, those stocks may become attractive for investing responsibly again and we may reinvest in their stocks. Secondly, according to Smith Schools Stranded Assets (2013), we can indirectly influence the market by changing their norms, which is the last stage the activists hope to archive, affecting their ability to finance themselves in both debt and equity. By doing this, all fossil fuel company in the sector will be affected by the wave created by norm changing. This will result in the same way as the first advantage, but on a lot bigger scale, because the market itself is the main force that can directly affect the stock price. Thirdly, the research by Hoepner and Schopohl (2016) shows that there are no difference in terms of risk and return between the portfolio that excluding some sectors of stocks and the traditional portfolio that does not has any constrains. However, the exclusion portfolio in this research only excludes the securities after they are accused of violating the code of ethics. This findings is a very solid reason for divesting fossil fuel companies, as many people believe that these firms can generate higher return for their portfolio. By getting indifferent return, people will be motivated to seek for abnormal return opportunities by moving their money to more innovative firms with higher growth potential. These advantages can benefit the university and the students by signaling to the whole nation that our university would like to take the leading role in tackling with global warming and other environmental issues. This can also potentially use for a marketing purpose of the university, as it may ranked the university up for being seriously concerned about environment and may attract more scholars and academics in this particular area to joining the university. The university may also benefit from the new investment perspective of its endowment fund, as it can gives higher profit if invest properly. This will enhance the ability to fund any new project which will definitely benefit both university and students, the university can provide better facility for learning and the students will be get a more competitive edge from learning in such environment. There are also three disadvantages for divesting from fossil fuel companies. Firstly, the universitys endowment fund cannot heavily affect the shares price of those firms due to the low proportion of the funds holding in this sector. The Stranded Assets by Smith School (2013) shows that the average university endowment fund in the USA hold the fossil fuel companies stocks for about 2% of their fund, and about 4% in the UKs. This proportion cannot significantly affect the stock price even though the funds liquidate all of their portion. Moreover, there may be some players that are willing to immediately buy these stocks after the fund sold their shares, as the price will be attractive for that period of time. Therefore, the university cannot hope to directly impact the market trend solely on this activity. Secondly, such activity may incur additional transaction cost generated by this activity to the fund itself, which may decrease its profit for some period, especially for the University of Reading, which 12.7% of the endowment fund is invested in fossil fuel related companies. If the trustee of the fund could not find any attractive investment opportunity, this movement will do more harm than good, at least in short term, to the fund and the university. Thirdly, to see the significant effect of this divestment, we will have to be patience. The impact on the sector would not be observable within one or two years, the university is likely to suffer from the divestment, again if the fund managers could not find attractive investment alternatives. Moreover, there are no distinct lists of the targeted company that is not environmental responsible to divest, which means that this will increase the marginal cost for the fund to do the research on those fossil fuel companies to divest. I also believe that divestment is not a solution for climate change, as stated in the article Why Fossil Fuel Divestment is a Misguiding Tactic by The Guardian (2015) as this is can be only served as a mean for increasing peoples awareness about the issue and it can be considered only a symbolic act while the real threats to the climate such as deforestation, short-lived greenhouse gas, halocarbon are still exist. These disadvantages will affect the university in terms of the opportunity cost, which comes in the form of less financial supports, as the fund may not yield as what it used to provide. This may result in lower scholarship for students and lower capacity to fund the researches. I also believe that by divesting its holding in fossil fuel companies, the university also give up its right as the owner of the companies which means that the university cannot influence the companies to move into a more sustainable way that may eventually increase the benefits to the shareholders. For the issues about the fiduciary duty of the trustee, as I stated before, the trustee should aim to provide their beneficiary with highest benefit. Therefore, it should hope to maximize the profit of this endowment fund. I completely agree with Drew Fausts Fossil Fuel Divestment Statement to the members of the Harvard Community (2013) on the topic that the universitys endowment fund has a single purpose, to support the academic mission, and it should not be used for any other purposes. To put the fund in any political position is to put the university in a risky position, as the money in the fund are from philanthropists with different view in politics. However, they share the same perspective in funding academic advancement, taking side in this political activity may result in fund withdrawal from the disagreed benefactors. I insist that fossil fuel divestment will breach the fiduciary duty of the endowment funds trustee, the fund must remain politically neutral to secure the risk position of the university and to serve the funds only single purpose. If the fund is going to divest, it should be a strategic adjustment of the portfolio in order to maximizing profit for the university, not for expressing the view on the particular topic in the society. On the other hand, I agree with the activists view about thinking long-term, not through the channel of divesting. Divestment is, in my opinion, meaningless as we still use the fossil fuel in our everyday life, such as our car petrol, our electricity which is produced by fossil fuel or even our home heating system powered by gas. We can act with long-term attitude by implementing a more productive ways such as influencing the current fossil fuel firms as a shareholder to move them to the good direction, fueling the breakthrough research about alternative energy and fuel, funding for innovative architecture and engineering. All of these ways can be originated from a good academic institution, their research, and proper funding is crucial for the growth of the academics. Hence, the trustee should put their best effort in the fund to keep advancing the academic goals. The campaigns should not about the fossil fuel alone, it should aim to tackle all of the problem stated above to be trul y archive the solution to the environmental problems. I believe the conflict in fiduciary duty can be solved by the fund manager try to take part in the fossil fuel company that the fund invested in through voting rights and keep monitor their use of fund through the companys report. The endowment fund should also keep looking for the new investment strategy which involve alternative energies and other responsible firm in a case that those companies could give higher yield than the current fossil fuel firm, then that would create a win-win situation for the fund, the university, and the students. The other good way is forming the new committee to keep reviewing if the fund invest sustainably and responsible, This committee may consist of students from the university and specialized fund manager. This method is already implemented by some leading American university such as Harvard. Finally, I recommend the University of Readings endowment fund not to divest for the stated reasons. I would suggest the fund to keep monitor the company, keep being aware of the situation in the market and use the recommendations stated above. While the environment issues are the important concerns for everyone, one should not focus only on the companies, but should focus also the people. People are the one responsible for the climate change and should be educated about the problem properly, in order to change their mind set to make it become more responsible for their selfish actions that caused climate change. I insist that the interest of the beneficiary is still remains an undisputed duty of the trustee and the fund managers must put their full effort to see it happen. References   Ã‚   Andreas G. F. Hoepner, L. S. (2016). On the Price of Morals in Markets: An Empirical Study of the Swedish AP-funds and the Norwegian Government Pension Fund. http://ssrn.com/abstract=2828040. Atif Ansar, B. C. (2013). Stranded assets. Oxford: Smith School of Enterprise and the Environment, University of Oxford. Faust, D. (2013, October 3). Fossil Fuel Divestment Statement. Retrieved from Harvard University: http://www.harvard.edu/president/news/2013/fossil-fuel-divestment-statement Hulme, M. (2015, April 17). Why fossil fuel divestment is a misguided tactic. Retrieved from The Guardian: www.theguardian.com/environment/2015/apr/17/why-fossil-fuel-divestment-is-a-misguided-tactic