Saturday, May 23, 2020
Who was Eliot Ness? Nearly anyone knows Ness#8217; accomplishments in Cleveland when he went up against Al Capone. Most also know Capone eventually went to jail for tax evasion, but what happened to Ness and his Untouchables? Did they merely fade away into quiet life? The fate of Ness was quite the opposite, he continued doing what he fell in love with. Taking down corruption on any level. He carried on his war on the mob for an entire decade after Capone, staging daring raids on bootleggers, illegal gambling clubs and generally putting organized crime on the run. Ness#8217; exploits in Chicago were chronicled in his book The Untouchables, but if he had carried on against the mob, why wouldn#8217;t he publicize such exploits? HeÃ¢â¬ ¦show more contentÃ¢â¬ ¦Bill Gardner: an enormous former pro football star of Native American decent Even with his team of specialists Ness was not without human fears. It was well known that Al Capone was the greatest criminal ever to walk the earth a nd every honest cop who ever went after him wound up dead. Not only cops for that matter but rivaling gangsters, such as Bugs Moran who was executed in the famous St. Valentine#8217;s Day Massacre. Despite the obvious danger Ness ripped into Capone#8217;s illegal activities with unmatched zeal. The first skirmish Ness had with Capone was an unparalleled success. He split his team so that each would make two raids that night for a total of eighteen stills. It was a complete success, fifty-two men were jailed and thousands of dollars in equipment was confiscated, and the product of this equipment poured down the sewers. In the months that followed Ness led raid after raid, and although Capone adapted his defenses, Ness adapted his attacks as well. Wire tapping was their most useful ally and helped them meet success time after time. At first Capone thought against assassinating Ness, seeing as the death of a prominent federal agent would only worsen his troubles. However Capone truly b elieved that every man had his price and tried to bribe Ness with two thousand dollars a week. At the time Eliot made a mere three thousand dollars a year, yet his integrity forbade him to take the bribe. He similarlyShow MoreRelatedEssay on Eliot Ness2928 Words Ã |Ã 12 Pages Who was Eliot Ness? Nearly anyone knows Nessamp;#8217; accomplishments in Cleveland when he went up against Al Capone. Most also know Capone eventually went to jail for tax evasion, but what happened to Ness and his Untouchables? Did they merely fade away into quiet life? The fate of Ness was quite the opposite, he continued doing what he fell in love with. Taking down corruption on any level. He carried on his war on the mob for an entire decade after Capone, staging daring raids on bootleggersRead MoreEssay about The Untouchables562 Words Ã |Ã 3 Pages The Untouchables nbsp;nbsp;nbsp;nbsp;nbsp;The author of this book was Eliot Ness. He was a prohibition agent given the special assignment of cracking down on the Chicago mob and illegal liquor sales. He was six feet tall, 180 pounds. Graduated in the top third of his class in both highschool and at the University of Chicago. Both his parents were from Norway, and he was raised in the traditional way. His reasoning behind writing this book was to tell the inside story of what really happenedRead MoreAnalysis of The Hollow Men by T.S. Eliot Essay1367 Words Ã |Ã 6 PagesAnalysis of The Hollow Men by T.S. Eliot Eliot, a master of the written craft, carefully thought out each aspect of his 1925 poem The Hollow Men. Many differences in interpretation exist for Eliots complex poetry. One issue never debated is the extensive range of things to consider in his TS Eliots writing. Because TS Eliot often intertwined his writing by having one piece relate to another The Hollow Men is sometimes considered a mere appendage to The Waste Land. The Hollow MenRead MoreThe Love Song of J. Alfred Prufrock by T.S. Eliot Essay914 Words Ã |Ã 4 Pagesthe era of modernism, the reader is capable of unraveling that the poemÃ¢â¬â¢s true purpose was not only to show PrufrockÃ¢â¬â¢s inability to make decisions when it comes to love, but to show the desolation that one faces in times of a modernistic transition. Eliot depicts PrufrockÃ¢â¬â¢s transition phase through a gloomy and solemn tone, incorporating imagery, metaphor and synecdoche to fully illustrate PrufrockÃ¢â¬â¢s despondent state of mind and s pirit. Prufrock invites us, the reader, through his journey of self-evaluationRead MoreSummary Of The Movie The Untouchables1178 Words Ã |Ã 5 Pagesasking. After watching the movie, there are many questions that come to mind. Like why were so many people were against Eliot Ness, and why would the untouchables risk so much to put Al Capone away. To start off Elliot Ness and his group of untouchables had many people against him. Many of the officers in the police force were on Al CaponeÃ¢â¬â¢s payroll, so they didnÃ¢â¬â¢t want Eliot Ness to investigate the matter any further. They were getting about two thousand dollars a week, which was a lot of money evenRead MoreThe Prohibiton Era1616 Words Ã |Ã 7 Pagesera was, without a doubt, special agent Elliot Ness. He is most remembered for his role in bringing down Al Capone. Ness was known for possessing intelligence, honesty, and integrity. He entered the service in 1926. Assassination, bombings, bullets, and corruption were routine. In 1930, Herbert Hoover was ready to put a stop to Al Capone and his schemes. One effort from Ness, their newly appointed special agent, would be enough to cripple Capone. Ness and his team deteriorated CaponeÃ¢â¬â¢s ability toRead MoreHistory of Drug Laws and Law Enforcement1637 Words Ã |Ã 7 Pagesadminister this new regulation was evid ent. The American Treasury Department assumed this responsibility and created a Bureau of Prohibition. The most famous Bureau of Prohibition agent was Elliot Ness. Ness led a group of agents, known as The Untouchables, who pursued infamous bootleggers such as Al Capone (Eliot Ness). Following the repeal of Prohibition, the Treasury Department established the Federal Bureau of Narcotics. Led by Harry J. Anslinger, the FBN focused its manpower on marijuana and theRead MoreProhibition Essay942 Words Ã |Ã 4 Pagesprohibitionists believed that it was morally bad to be intoxicated and drunkenness had a negative effect on the life and health of Americans (Johnsen 70). One very influential prohibitionist was Eliot Ness, who was the leader of the Untouchables and helped to undermine Al Capones bootlegging scams in Chicago. Eliot Ness and his group of law enforcers believed in prohibition and sought to take down anyone who violated the law of the nation. As the United States was entering into World War I, prohibitionistsRead MoreEssay about Act One Scene One of Educating Rita841 Words Ã |Ã 4 Pagesscene is a problem that was also faced by Russell as well. When Frank is looking for alcohol behind books he can not remember where he had hidden the bottle of whiskey which indicates that he might have been drinking before. Ã¢â¬Å"Where the hellÃ¢â¬ ¦? Eliot?Ã¢â¬ When he remembers where he has hidden the whiskey he is very happy. Ã¢â¬Å"Jubilantly.Ã¢â¬ This visual clue shows the extent of FrankÃ¢â¬â¢s alcoholism. Franks Ã¢â¬Å"pours himself a large slug into the mug.Ã¢â¬ People drink in small glasses because it is very strongRead MoreEra of Prohibition in THe Great Gatsby by F. Scott Fitzgerald1473 Words Ã |Ã 6 Pagesgovernment realized how dangerous and large Al CaponeÃ¢â¬â¢s business was. They sent a federal agent to go and completely stop Al Capone from causing any more chaos. The federal government got Eliot Ness on the investigation for Al Capone. Ã¢â¬Å"Ness severely damaged Capones business. What finally brought Capone down, though, was not Ness, but another team of federal agents. At the same time that Nesss unit was going after Capone for bootlegging, a team headed by Frank J. Wilson was gathering evidence against Capone
Monday, May 18, 2020
Mostly in the international trades, trade diversion arises as a result of one business being able to offer importation into a particular country at a lower production cost than the other business competitors. The diagram shows that before the UK joined EC, the importation price from New Zealand was P1 and UK consumed Q1 to produce Q2. That is as per New Zealand's tariffs. However, on joining the EC, it is able to enjoy the EC free price tariff price of P2, which is above the tariff-free price P3 of New Zealand. Therefore, to state the losses and gains in welfare, there is a rise in consumer extra in area 1+2+3+4. In the producer in area 1, there is a reduction in the surplus of the producer. Finally, there will also be a loss of the government revenue tariff of area 3. In countries involved in both trade creation and trade diversion, there are several differences realized before the trade creation and after the trade creation. To start with, trade creation eliminates trade barriers between the member countries thus encouraging the trade between the member countries, therefore, discouraging the trade between the non-member one. We will write a custom essay sample on Trade Creation and Trade Diversion or any topic specifically for you Only $17.96 $11.86/pageorder now Before trade creation, this phenomenon is not realized. To add on that, after trade creations, member countries are free to exploit and freely trade with members of their choice. The member countries can also import goods at a lower cost thus enabling them to produce goods and services at a lower cost. Nevertheless, before trade creation, no country is allowed to trade freely with its country of choice. This ends up in higher costs of production that result from higher importation cost (Laine, 2011). Moreover, prior to trade creation, every country works as individual imposing different tariffs on various countries to protect their industries. After trade creation, all member countries within the union have standardized tariffs. Another difference is that, after trade creation, once a union is formed, all members agree to eliminate all tariffs between them. As a result of these zero tariffs on imports, consumer demand raises thus leading to another trade creation.
Tuesday, May 12, 2020
Everyday millions of people are enslaved, used, and abused in one of the greatest civil rights violations in human history. Modern slavery; better known as human trafficking, is currently spanning the globe and affecting millions of people in hundreds of countries but is widely ignored by society. According to a reporter for National Geographic Magazine, Ã¢â¬Å"There are more slaves today than were seized from Africa in four centuries of the trans-Atlantic slave trade. The modern commerce in humans rivals illegal drug trafficking in its global reach and the destruction of livesÃ¢â¬ (Cockburn). This epidemic is sorely in need of becoming a priority for 1st world governments which will only happen with pressure from ordinary citizens. Similar to the civil rights movement in 1960Ã¢â¬â¢s America, people are being abused, hurt, and denied their fundamental rights. WhatÃ¢â¬â¢s true now just as it was then is that it is the responsibility of every person to come together to create c hange. In order to effect this change, activists should conduct campaigns and rallies with the objective of engaging the public and drawing followers to their cause. The more followers that a cause gains, the more power it can utilize to get those people who hold positions of responsibility to conform to their desires. An example of this was near the beginning of this year when policymakers tried to subtly push a new cyber securities bill; known as CISPA, that was found to be very invasive and detrimental to the AmericanShow MoreRelatedPolicy Analysis Iii- Compare and Contrast Paper809 Words Ã |Ã 4 PagesStates Human Trafficking Policy, this policy is not a successful one but this policy is steadily improving with sustainable reform. The criminal justice system practice the model of PackardÃ¢â¬â¢s Due Process, established with the promise form the United States Constitution for individuals civil liberties and rights. This paper will evaluate the issues that courts and law enfor cement deals with while working and implementing prior polices. United States Human Trafficking Policy Human trafficking is aRead MoreHuman Dignity And The Inalienable Rights Of Every Person1251 Words Ã |Ã 6 PagesWhen Europeans began to colonize the New World at the end of the 15th century, they were well aware of the institution of slavery. Slavery has been a part of human society since its beginning and it continues to increase today. This kind of activities continues to growth in todayÃ¢â¬â¢s society in different forms every country in the world. Mostly women are forced to practice prostitution, children and adults may be required to work in farming or factories producing goods for global corporate companiesRead MoreEssay about Fighting Injustice 922 Words Ã |Ã 4 Pagesfascism, civil rights abuses and unjust treatment in general because of the brutal and horrible lives that some people during his time had to experience and suffer under. The quote also states that injustice to any person of this planet is wrong and that regardless of rhyme or reason people should cease to b e oppressed by their individual governments and instead be listened to and cooperated with by the local institutions. However, it can also be a reference to the Civil Rights Movement of MLKÃ¢â¬â¢sRead MoreHuman Trafficking Is The Exchange Of Human Beings Worldwide953 Words Ã |Ã 4 PagesHuman trafficking is the exchange of human beings worldwide. As devastating as it is, human trafficking has been taking place since the United States was granted freedom from Britian. Everyone from the African Americans, children, women, and grown men have been victims of this color-blind crime. No one is quite sure how many African slaves were forced into America but the number is estimated to be between 92,000 and 291,126 between the U.S.Ã¢â¬â¢s birth of a nation and the Civil War (Ingersoll, 2005)Read MoreModern Day Slavery Essay1039 Words Ã |Ã 5 PagesProject: Human Trafficking Ã¢â¬Å"Modern Day SlaveryÃ¢â¬ Ã¢â¬Å"SLAVERY was abolished 150 years ago, right? While it is true that slavery is illegal almost everywhere on earth, the fact is there are more slaves today than there ever wereÃ¢â¬ ¦Ã¢â¬ Despite the grim reality described in this quote, I believe Robert Alan successfully undermines a common misconception held by Americans, both young and old. Although we are brought up thinking that Abraham Lincoln with his Emancipation Proclamation along with the Civil WarRead MoreHuman Trafficking Is The Third Largest International Crime Industry1236 Words Ã |Ã 5 PagesAccording to Ã¢â¬Å"11 Facts About Human Trafficking,Ã¢â¬ Ã¢â¬Å"between 14,500 and 17,500 people are trafficked into the United States each year. Human trafficking is the third largest international crime industry (behind illegal drugs and arms trafficking). It reportedly generates a profit of $32 billion every year. Human trafficking victims can easily get STDÃ¢â¬â¢s, HIV/AIDS, untreatable diseases, cultural sh ock, and many more severe health problems.Ã¢â¬ Slavery also has dealt with these similar statistics and healthRead MoreNepal Is The Beautiful Country1470 Words Ã |Ã 6 Pagesaccounts for 40% of the gross national product. More than 240 years Nepal was ruled by the royal family but in 1990 Nepal became a democratic nation with a constitutional monarchy. In 1996, CPN, Maoist started violence conflict against the government and civil war was continued until 2006. After peace agreement between Maoist and others political parties, monarchism was abolished and constitutional assembly election was held. Recently they made a new constitution. In the meantime, in 2015, Nepal was heavilyRead MoreSlavery : The State Of Being A Slave1195 Words Ã |Ã 5 Pagesbuild the united nation to what it was, eventually it would tear the nation apart. D.) The Civil war began due to differences between the free and slave states. They fought over the power of the national government to prohibit slavery in the territories that had not become states yet. E.) The American Civil War began in 1861 and lasted four years, until 1865. Preceding the war, however, there was a movement to abolish slavery that wedged the north and south apart. This war would determine whetherRead MoreThe Problem Of Sex Trafficking1684 Words Ã |Ã 7 PagesThe Solution to Human Trafficking is Just As Difficult As the Problem Sex Trafficking is a global phenomenon defined most often as the trade in women and children using force, fraud or coercion to cause a commercial sex act. Prostitution, pornography and sexual performance that is committed in exchange for money, drugs, shelter, food or clothes is defined as a commercial sex act. Sex Trafficking has a firm grip as a multi-million dollar production, recently skyrocketing with the modern era of technologyRead MoreHuman Trafficking Supply Chain Risk1160 Words Ã |Ã 5 Pagesntro: Human Trafficking Supply Chain Risk When the media talks about human trafficking, the first thing that comes to mind is the kidnapping and sale of women and children. Of girls lured from their homes. But human trafficking is more than just sex trafficking. Many victims of trafficking are conscripted into modern-day slavery through force, fraud, or coercion. This takes the form of debt bondage, forced labor, and involuntary child labor. Human Trafficking is also a supply chain issue. Human
Wednesday, May 6, 2020
A third consideration in regard with the Aboriginal and Torres Strait Islander peoples is the meaning of sovereignty. The discourse on sovereignty is obscure and non-reflexive. It situates itself somewhere between moral axiology, social ideology and political and legal authority. The link between sovereignty and politics within the public discourse often mask oppressive power relations between Indigenous and non-Indigenous people (Prokhovnik, 2015). Furthermore, the mainstream political discourse undoubtedly takes sovereignty Ã¢â¬Å"as though it really were an uncontested foundationÃ¢â¬ , which erases the significance of the Indigenous as the first nations (Prokhovnik, 2015, p. 415). For the settlers, perhaps their self-importance as imperialists was more valued than embracing new notions of nationalism (Ward, 2001). For them, the establishment of colonies represented the expression of the external power of sovereign European states, even if only possible as a result of conq uest, and their colonies Ã¢â¬Å"were considered sufficient justification for the imposition of sovereign powerÃ¢â¬ (Patton, 1996, p. 149). Unfortunately, this unresolved ambivalence about the colonisation of Australia has also left the peoples of this country with an ambivalent identity (Connors, 2001). The Ã¢â¬Ëwhite-AustralianÃ¢â¬â¢ sovereignty was first granted by an Act of the Parliament of the UK in 1901, then was recognised as an independent dominion in 1931 (Prokhovnik, 2015). In 1948, through CommonwealthShow MoreRelatedAboriginal And Torres Strait Islander Peoples1456 Words Ã |Ã 6 PagesÃ¢â¬ ¢ Aboriginal and Torres Strait Islander peoples are the oldest surviving culture in the world. They have occupied Australia for at least 65,000 years. Their cultures are complex and diverse. Ã¢â¬ ¢ The reason Aboriginal cultures have survived for so long is their ability to adapt and change over time. Ã¢â¬ ¢ It was this affinity with their surroundings that goes a long way to explaining how Aboriginal people survived for so many millennia. Ã¢â¬ ¢ In Australia, Indigenous communities keep their cultural heritageRead MoreAboriginal And Torres Strait Islander People Essay1562 Words Ã |Ã 7 Pages Aboriginal and Torres Strait Islander people are a distinct traditional cultural group of the Australian population. The historical wealth of the importance of contribution to country by the Indigenous people of this nation is truly significant. At the Indigenous Future-Venture Research Institution (IFVRI) we place at the forefront of our mission, the aim to develop and implement, through the in-depth research and analysis of data, new material for awareness platforms and information that will primarilyRead MoreThe Role Of Aboriginal And Torres Strait Islander People1586 Words Ã |Ã 7 Pagesdescribe the actions of which Aboriginal and Torres Strait Islander people, mostly children, were taken away from their families between the 1890Ã¢â¬â¢s and the 1970Ã¢â¬â¢s (Korff, 2014). Children were taken to institutions or adopted by non-Indigenous families and most never saw their families again. In the early 1900Ã¢â¬â¢s the Australian public was persuaded into believing Aboriginal ch ildren were deprived, mistreated and at risk in their own communities. People believed that Aboriginal children would receive a betterRead MoreWork Effectively with Aboriginal and / or Torres Strait Islander People1300 Words Ã |Ã 6 PagesWork Effectively with Aboriginal and / or Torres Strait Islander people 1. How many years ago, is it estimated, that the shape of AustraliaÃ¢â¬â¢s coastline was defined? Ã¢â¬ ¢ 6000 years ago 2. In what year did the Dutch first explore AustraliaÃ¢â¬â¢s coastline? Ã¢â¬ ¢ 1606 3. In what year did they proclaim Botany bay as a penal colony? Ã¢â¬ ¢ 1788 4. What disease in 1789 affected the Aboriginal population? Ã¢â¬ ¢ Small pox 5. What happened to Aboriginal land in 1794? Ã¢â¬ ¢ Aboriginals were dispossessed ofRead MoreThe Health And Cultural Safety Of Aboriginal And Torres Strait Islander Peoples3371 Words Ã |Ã 14 Pagessafety of Aboriginal and Torres Strait Islander Peoples. Briefly discuss this impact for each of the 5 issues. Colonisation: One of the most immediate impacts on the health of the Aboriginal and Torres Strait Islander people was Diseases. Diseases brought over by the British quickly spread throughout the Aboriginal and Torres Strait Islander tribes. The Indigenous peoples did not have immunity to these European diseases and the populations of Aboriginal and Torres Strait Islander people sufferedRead MoreHealth Inequalities Experienced By Aboriginal And Torres Strait Islander People1222 Words Ã |Ã 5 Pagesinequities experienced by Aboriginal and Torres Strait Islander people in Australia. Health inequities describe the differences in health status or in the distribution of health resources between different population groups, ascending from the social conditions in which people are born, grow, live, work and age. In Australia, Aboriginal and Torres Strait Islanders experience far more ill health than other Australians. The major inequities experienced among these people include: * Ã¢â¬ ¢ Younger mortalityRead MoreHistorical Developments Of Aboriginal And Torres Strait Islander Peoples Struggles For Rights And Freedoms1832 Words Ã |Ã 8 PagesÃ¢â¬ËOutline the significance of key developments in Aboriginal and Torres Strait Islander peoplesÃ¢â¬â¢ struggles for rights and freedomsÃ¢â¬â¢. Since European invasion in 1788, Indigenous Australians have fought to retain their rights and freedoms and to have governments recognise them. From 1788 and onwards the British created settlements on land that Aboriginal people previously used and controlled. Throughout the 19th century the government applied policies of Ã¢â¬ËprotectionÃ¢â¬â¢ that have segregated AboriginesRead MoreTeaching Inclusive Australian History And Presenting The Perspectives Of Aboriginal And Torres Strait Islander People1513 Words Ã |Ã 7 PagesNon-Indigenous teachersÃ¢â¬â¢ encounter numerous barriers when teaching inclusive Australian history and presenting the perspectives of Aboriginal and Torres Strait Islander people. Teachers often lack education and exposure, have a fear of opposition or consequences, or have minimal awareness of oneÃ¢â¬â¢s own beliefs and dispositions, amidst other uncertainties (OÃ¢â¬â¢Dowd, 2015). As a training teacher with a non-Indigenous heritage, I must consider m y own ethical positioning (OÃ¢â¬â¢Dowd, 2010), so I can best participateRead MoreThe Discourse Of Whiteness Has Impacted On The Educational Outcomes For Aboriginal And Torres Strait Islander Peoples1865 Words Ã |Ã 8 PagesThe discourse of whiteness has severely impacted on the educational outcomes for Aboriginal and Torres Strait Islander peoples (herein referred to as Indigenous Peoples). The discourse is based on an ontology founded on overt racism, discrimination, prejudice, exclusion and dispossession and towards all Indigenous Peoples. Subsequently, the history of Indigenous Peoples experiences in relation to education is extremely negative. 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Abstract The paper investigates the causative factors of the 1929 stock market crash. With help of the economic data and previous researches, it has been highlighted that the tight monetary policy led to the crash and subsequent economic failure in 1932. Besides other factors, the prime lesson from the crash for investors in the 21st century is to adopt a diversification strategy, and that for government officials is to employ their power wisely and strategically. We will write a custom essay sample on The Stock Market Crash of 1929 or any similar topic only for you Order Now List of Figures and Table Table 1: Economic Indicators of the US: 1929 to 1932. 5 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â- 5 Figure 1: The Fall of the Dow Jones: 1928 to 1934. 4 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â 4 Figure 2: Unemployment rate in the US: 1929 to 1940. 6 Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â 6 Abbreviations DJIA= Dow Jones Industrial Average MS= Money Supply NYSE= New York Stock Exchange ROI= Return on Investment Introduction AmericaÃ¢â¬â¢s economy suffered a massive stock market crash in 1929 when the Ã¢â¬Å"roaring twentiesÃ¢â¬ bubble burst, resulting in eradicating $5 billion from the NYSE in a matter of 3 days(Lange, 2007). The objective of this brief is to investigate the elements which played a pivotal role in the crash and its impact on the American economy. However, this discussion cannot be comprehensive without highlighting the lessons which todayÃ¢â¬â¢s economists and investors could learn from the 1929 crash. Pre-crash Dynamics In the early 20th century, US economy experienced exponential growth as a ramification of industrialization, advancements in technology, and expanding middle class; hence the economists referred to that era as the roaring twenties. The DJIA soared during 1921-1929, primarily driven by the aggressive share-purchase. The bull market sentiments found their roots in the belief that stock market investment was the safest because of the countryÃ¢â¬â¢s strong economic boom. Source: Gitlin, 2008, p.64 The index skyrocketed; from 60 points reached 400 points within a small time span, as is shown in Figure 1 (Gitlin, 2008). However, the short-sightedness, or sheer foolishness of investors, reversed the situation. How Did the Crash Occur? The boom in the stock market provided an opportunity for margin purchasing; which simply means borrowing to purchase. The rationale behind this strategy is the effect of financial leverage; it increases ROI by manifolds (McLaney, 2003); for instance, a 1% increase in market return could result in 10% increase in ROI. However, the leverage effect can be opposite as well which was completely ignored due to over-optimism of the investors. Experts are of view that during 1929, the speculation about the rise in price, driven by strong economic growth gave birth to an abnormally optimistic investor attitude (Galbraith, 2009). Nevertheless, when the Federal Reserve (Fed) increased the interest rate to cool the overheated stock market, a powerful bear market emerged. Investors, in a state of panic, started selling their shares, which made the DJIA drop from 400 to 145 points within 3 days (Lange, 2007). Investors, who purchased on debt paid for 10% in cash and 90% from borrowed funds, were not able to pay back their debt when the share prices fell very much contrary to their expectations; consequently they reached a point of bankruptcy. Experts in Behavioural Finance believe that acting in a state of panic was also one of the significant drivers for the stock market crash. Stock-market-behaviour observation asserts that investor sentiments are usually contagious and can cause a snow-ball effect, which in extreme situations, can lead to market crash (Reilly Brown, 2007). The effect of crash augmented because many banks had also invested their customersÃ¢â¬â¢ deposits in the stock market; when prices fell , banks lost their deposits. Subsequently, bank runs occurred when depositors tried to withdraw their funds from the banks all at once. As a ramification of this, 10,000 banks were bankrupted, $140billion of saving was lost in the crash, and the financial system of the country was decimated (Galbraith, 2009). Impact of the Crash Economists believe that FedÃ¢â¬â¢s tight monetary policy was the main driver for the crash that subsequently resulted in the Great Depression of 1932. Source: EIU, 2013 Source: EIU, 2013 The degree of decimation brought by the stock market crash can be assessed by the fact that the economy had to suffer for four years before it reached the trough in 1932. American economy was unbelievably crashing; its unemployment rate increased from 3.2% in 1929 to 25% in 1932 (EIU, 2013) (See Figure 2). Its GDP fell by 26% within a span of four years. The decrease was primarily driven by 48.7% and 5.8% average decrease in investment and consumption respectively (EIU, 2013) (See Table 1). Moreover, the economy suffered deflation, that is, negative rate of inflation, which implies that the borrowers had to payback more valuable USD than the ones they had borrowed (Mishkin, 2007). The deflation occurred because the money multiplier decreased to such an extent that the MS increased despite the decrease in monetary base; this was the repercussion of the FedÃ¢â¬â¢s short-sighted monetary policy. This deflation along with 16% real interest rate in 1932 (McGrattan Prescott, 2004), actually drove the collapse in investment. In fact, it was not only the economic loss, but the number of suicides, the decrease in the quality of life, the rise in the street crime, the lawlessness, and the despair in the society have also been highlighted as gruesome impact of the depressive economy. What Does the Crash Teach? There are many lessons which economists and investors can learn from the historic crash; however; few of the most applicable lessons in todayÃ¢â¬â¢s market are; Government actions can help strike a balance between optimism and pessimism pertaining to stock market investment. Therefore, if government would constantly pronounce markets as over-valued, investors would come to believe it and strategise accordingly (White, 1990). The fact that an investment could deteriorate by 40% in one month and by over 90% in three years time, highlights an immense need for diversification in a portfolio. Adding bonds, cash, and precious metals along with equity could help mitigate the risk (Reilly Brown, 2007). Leveraged portfolio can be a blessing in disguise for uninformed investors. The positive leverage could help increase the profits provided that the sensitivity of cues for unfavourable conditions remains high at all times. There were people who were able to cap their losses in 1929, because they were more sensitive to indicators cueing problems than others (White, 1990). Last but not the least; banks, financial markets, and economy are all interlinked with each other. An issue in one could spread to all, within and outside domestic economy. Therefore, government policy makers must see the big-picture before devising changes in the monetary and fiscal policies. Conclusion The stock market crash of 1929 was one of the most significant events in the history of America. It was the short-sighted tight monetary policy of Federal Reserve which fuelled the crash. Tight monetary policy created a fear of loss for margin buying investors, which subsequently resulted in panic driven bear market and an eventual crash. The economy suffered long-term effects of the crash in the shape of the Great Depression of 1932 when the country was at her deepest troughs. The crash of 1929 teaches that; investments are more sentimentally driven; therefore, if authorities constantly pronounce markets being over-priced, investors would eventually believe it. Secondly, diversification should be a significant element in oneÃ¢â¬â¢s investment strategy. Lastly, magnification of returns by financial leverage should be done only when the borrowing cost is less than ROI. References EIU (2013) Economic data: The United States of America [Online] Available at: www.economistintelligenceunit.com [Accessed 8 October, 2013] Galbraith, J.K. (2009) The Great Crash of 1929, n.d. London, Houghton Mifflin Gitlin, M. (2008) The 1929 Stock Market Crash, n.d. Minnesota, ABDO Lange, B. (1929) The Stock Market Crash of 1929: The End of Prosperity, n.d. New York, Infobase McGrattan, E.R., Prescott, E. (2004) The 1929 stock market: Irving fisher was right, International Economic Review, Vol. 45, pp. 991Ã¢â¬â1009. McLaney, E. (2003) Business Finance: Theory and Practice, 6th ed. Essex, Financial Times Prentice Hall Mishkin, F.S. (2007) Monetary Policy Strategy, n.d. Massachusetts, MIT Reilly, F., Brown, K. (2007) Investment Analysis Portfolio Management, 11th ed. Mason, South-Western White, E. N. (1990) The stock market boom and crash of 1929 revisited, Journal of Economic Perspectives, Vol. 4, Issue no, 2, pp. 67-83 [Online] Available at: http://wwww.jstor.org/stable/1942891 [Accessed 8 October, 2013] How to cite The Stock Market Crash of 1929, Essay examples
Perhaps the tendency toward individualism has never been more manifest than it is now. Apparently, people are significantly overwhelmed by self-oriented and snobbish life style. This fact has posted a contentious issue associated to whether humans need to revive moral and traditional values. Personally, I am of the opinion that reshaping the bygone concept of family and community is of paramount importance based on the undermentioned justifications. In modern society, the rise of egoism has triggered a myriad of detrimental impacts on the family solidarity. That only one member of a family is individualistic is likely to provoke the breakdown of the family unity. An old saying teaches us: Ã¢â¬Å"Blood is thicker than waterÃ¢â¬ . Traditionally, family, the crib of each person, brings humans a sense of safety and invariably is deemed where people turn to first if confronted with the ups and downs in their life. People used to live with appreciation of an ethos of sharing and caring, but at present, the story is totally different. We will write a custom essay sample on Individualism or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page They engage in working separately for their personal merits in the absence of human ethics, showing ignorant attitude towards both tangible and emotional support from family. Another drawback of egoism can be noticed in the way people behave in community. So hoggish are some people that they desire to enrich themselves thanks to unlawful activities. The fact shows that regardless of human safefy, many businesspeople are willing to producing disqualified products and cajoling people into buying what they do not actually need. More importantly, they refuse to plough back any fraction of handsome incomes to the community well being. In the society, relationship among people is prone to become superficial, transient and ad hoc. It comes as no surprise when people remain onlookers and express indifferent attitude when asked for assistance by neighbors. In the light of the above-discussed arguments, one can subscribe to a notion that social solidarity has been dismantled in front of overwhelming egoism. Greedy and self-centered character of one individual may lead to grave problems. It is highly recommended that the whole society and each family should never give up on the current society, striving to reconstruct and reshape the codes of ethics as well as concepts of human values. Hence, our world will regain its truly enduring values.
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Question: Describe about the Stress and the Individual of Mechanisms Leading to Disease? Answer: Anger is the stage of emotions with a wide intensity rate which tends from irritation to the highest level of frustration (McEwen, 1993). Anger is a warning statement that indicates that something is going wrong. There are many forms of anger but four of them are :- Impatience Jealousy Fear Guilt These are four forms of anger. Further evidence of anger has been supplied by two London socialists, George Brown and Tirril Harris, who have worked towards the establishing the scientific standing of what has been termed law-starw event in relation to an individual who have struggled for some duration for some time to keep their heads above water. According to the rational behavior therapy which was introduced in 1955, irritation is the state which is combined with frustration tolerance and leads to high anger. Negativity towards one self and self- denigrator position are two reasons that can lead a person quickly to the depression stage. According to Aaron Beck, depression is not the actual factor of disturbance of emotional cognition. Negative view held by a person towards himself and the world makes him feel depressed. There are thoughts of getting depressed which lead to negative swings. According to Back, there are ill thoughts that lead to depression. Feeling depressed can make you feel low and leads you towards the depression stages which turn into anger (Taylor, 2005). Situations of Dipressions Fig 1: Situations of Anger Source: Taylor, 2005 For many years, the link between stress and depression are two main reasons and areas which have been subject of controversy within the medical intuitions and professors. Doctors are naturally wary of the term- stress. According to the doctors, its embracing, vague and imprecise, and in contrast they find it difficult to understand whether it is the best use to describe the cause of someones problems, the problems itself or the impact of the problem on the problematic. There are few areas that need to understand in terms of stress (Taylor, 2005). The medical professors are still not able to draw a conclusion about the fact whether stress is an abnormal feeling, and therefore it should be sometimes avoid and prevent or something to be encourage and cultivated. Stress is linked with anger and depression which to a certain level leads to various forms of depression in an individual. Social stress is a term that is related with the form of relationship with one and another. A person experience stress at various stages of life and its an ability to cope up with an external stimulus. The Oxford Companion to Medicine defines that stress is a totality of the physiological reaction to a threatening stimulus. There are various social stresses which are linked with anger and depression. Stress is a situation where person starts feeling impatient and irritated. The reasons for the social stress can be unemployment, poverty, isolation from the gatherings and a crowded supermarket. These all the major factors that can increase the level of anger in an individual. Bottling up negative feelings can result into anger and depression and even on a short term they can lead a person to various states of anger and depression. Stress can be the reason of physical illness and mental sickness. The anger is one of the major parts of individuals case in an undeniable situation. Stress and depression are linked together and form a problematic situation. In other words, this may reflects an individuals aggressive mood towards a certain situation. A depressed person is in a constant state of stress where he face various challenges such as: He built up a fear within himself for future situations. He tends to get frustrated easily on things that are related to him. He remains impatient if something happens wrong and get depressed. He gets jealous of everyone around him and tends to feel low from others. He resends from the feeling that others are doing wrong towards him. These are the few reasons that make the person more angry and depressed. Moreover, an individual starts feeling hopeless in this situation especially when he is angry and depressed. Depressed thoughts and feelings: Aaron Beck, who is an influential cognitive theorist, has stated that the negative views and thoughts that the persons hold towards themselves and the world around them is the cause of their depressed feelings. Persons have depression as thoughts in their minds, as well as the feelings that they go through. Earlier theorists have stated that the depressed feelings would lead to depressed thoughts. However, Beck differs with them and had reversed the concept by elucidating that that it is the presence of depressed thoughts that lead to depressed feelings. Anger turned inwards: Beck also puts forth his argument that depression in the persons is not that disturbing emotion as is cognition. Becks theory has been proven as one analyzes the symptoms of mild depression, which includes discouragement, loneliness, inferiority complex, melancholy, etc. These would lead to the clarity that the depression can be seen as ones own anger is turned inwards, which leads to implosive nature of depression. There are many symptoms that are showcased by those who are suffering from mild depression in their lives. Out of these the 3 symptoms that can be instantly identified are (1) feeling discouraged, (2) loneliness and (3) melancholy (Jacques; 2006). Feeling discouraged: Even though every normal person would feel discouraged at times, those who are suffering from mild depression take this feeling to the next level. They would not be able to think positive, self-convinced to be powerless and would be surrounded with lots of negative thoughts. Loneliness: Due to the discouragement that they have and also the growth of inferiority complex, those who are mildly depressed withdraw from social interactions. They start to suffer a lot in loneliness and do not seek help from others. Melancholy: Those who are depressed slightly would be sad most of the times. Their reactions towards the happenings around them would always be in a negative tone. The depressed person subjects him / her to a constant state of stress and does not take the necessary action to come out of it. Depressed people tend to hold on to the fear about their future, even if they clearly know that they would not be able to control the outcome. They are not sure about themselves or where their lives are heading to. They would feel and feed their inability to do anything to suppress their depression. They would feel inferior to others and therefore gradually withdraw from the social groups. They become frustrated so easily. This happens due to the fact that they link their happiness and freedom from depression with certain outcomes in lives. They would therefore become so impatient for the things to happen and will always be in a state of haste. They will be jealous of others who are having fun in their respective lives. Expectations and disappointments: When persons are depressed, then they would expect certain things to happen in their lives to get rid of depression. Therefore, they would become impatient for their desired outcomes and would feel totally frustrated and angered if these do not happen. The additional forms of anger in the form of impatience, resentment, jealousy, fears, etc, would fuel their depression in an adverse manner leading to dire consequences. They would start to feel more helpless than they ever were. Building inabilities: As these additional anger forms are encouraged and harbored in the minds of individuals, they lose sight of their true power and abilities. This would allow them to allow other events and people to easily overpower them. This would lead to feeding their depression with even more negative energies, thereby pushing themselves, almost to the point of no return. With more external powers overpowering the mind, individuals would become angrier and increase other forms of anger as a vicious cycle. Failure to confront and suppress anger: Every now and then, something keeps happening to all persons. They would have desired to have reacted in a certain way. However, if the same is not done, then they become angry on themselves. Regardless of the type of anger, it needs to be identified, confronted and suppressed before it is allowed to cause any damage. Proof of inability: When an individual feels angry and does not do anything to the other person, even if it is for a second or a few seconds, they would feel their inability. This would make them feel numb and thereby relate to depression. Their minds would start to manipulate all the possible alternative things that they could have done in that situation (Nancy, 1994). Self Pity: As they have not done anything that their mind would have liked, they fall into the pit of self-pity. Since they have not stood up when they should have, there is a huge chance for self-pity, leading to self-anger and depression. References McEwen, B. (1993). "Stress and the individual: Mechanisms leading to disease". Archives of Internal Medicine 153 (18): 20932101. doi:10.1001/archinte.153.18.2093. PMID 8379800. Taylor, P. (2005). The reasons for main causes of anger., conselis.com. Accessed on 2 April, 2015. Jacques, H. (2006). "Interleukin 6 is associated with subclinical atherosclerosis: a link with soluble intercellular adhesion molecule 1". Journal of Hypertension. Nancy, R. (1994). "A closer look at the link between marital discord and depressive symptomatology". Journal of Social and Clinical Psychology 13 (1): 3341.