Economic policies matters of the Crisis of 1970s

Introduction A capitalist economy system is comparable to a multifaceted machine that entails numerous capitalists firms and individuals, all making uncoordinated decisions in the economy.Advertising We will write a custom essay sample on Economic policies matters of the Crisis of 1970s specifically for you for only $16.05 $11/page Learn More The many devices of this machine do not mechanically fit together. For example, when individuals resort to save a portion of their income, it does not imply that they will find people to borrow and invest it. The decisions made by individuals in the capitalist economy thus rely on the institutional framework in which they operate. If the institutional framework fail, the devises of the machine do not mesh, resulting in an economic crisis, as one witnessed in the 1970s (Reuss 1). Some economists in the U.S. have referred to this phenomenon as a social structure of accumulation, where capital accumulation is seen as a process where individuals and capitalist companies reinvest their profits to enlarge their operations in the economy. If these economic agents (individuals and firms) fail to reinvest, factories will close down, resulting to massive unemployment. This phenomenon is what we call economic crisis (Reuss 2). During the 1970 crisis, the United States’ economy experienced declining productivity, high energy prices, rising international competition and a high unemployment and inflation rates. Between 1973 and 1974, the price of fuel increased four-fold, resulting to high energy costs for both businesses and consumers. The annual rate of inflation rose to over 9.9% in 1974 while the annual unemployment rate was over 8.1% in 1975 (Reuss 12).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The economy appeared to be ensnared in stagflation, a phenomenon that is characterized by an amalgamatio n of low economic growth and soaring unemployment rates, coupled with high rates of inflation (Reuss 13). The economic downturn of the 1970s added to momentous changes in the institutional structures of the U.S. economic system. During the early stages of the crisis, the government implemented several expansionary fiscal policies to regulate economic activities. Labour unions were also active during this period. Later on, the economic crisis ushered in the neoliberal capitalism era that was characterized by weakened roles of the government and labour unions (Reuss 3). The Neoclassical (mainstream) economists often posit that if a capitalist economy is run on the precepts of static universal principles and that any infringement on the principles of the market- expansionary fiscal policies, labour union roles, industrial policies and government macroeconomic interventions- certainly implies disaster. However, the performance of the United States’ economy from 1940s to mid 1970s , a period called the ‘Golden Age’ contradicts this premise (Reuss 5). Historical data suggests that the U.S. economic performance was superior during the Golden Age when compared to other periods. Between early 1940 to mid 1970s, the annual economic growth was approximately 3.9%. The annual inflation rate was less than 1.9% for nearly half of the Golden age epoch and only exceeded the 5.9% mark while unemployment rate was about 5.8%. Moreover, the real pay per hour in many industrial companies was added to up to an average rate of 2.1% per annum.Advertising We will write a custom essay sample on Economic policies matters of the Crisis of 1970s specifically for you for only $16.05 $11/page Learn More The economic crisis of 1970s emphasized the need for fiscal policies to stabilize the economy, alleviate recessions and sustain full employment. For example, the U.S. government expenditure on consumption and investments was about 22% of Gross Domestic Product (GDP) in 1970s compared to previous periods (less than 20%). A number of key business sectors, such as communications, transportation, and banking and insurance were extremely regulated. Furthermore, the unionization rate rose to over 34.9% of the labour force and stabilized at 25.2% in the 1970s (Reuss 6). Rational Expectation Approach verses Modigliani’s Approach Franco Modigliani was one of the principal inventors of the neoclassical synthesis between the orthodox theory of value and the Keynesian’s principle of effective demand that dominated macroeconomic thoughts until the 1970s (Mongiovi 1). Many of his works reflected a distinctive sensitivity to the complexities of striking a balance between the roles of the state as an instrument of progressive reform and its capability for repression. The Modigliani approach for instance queried the conventional proposals concerning the impact of technological change on employment His approach rejected the a rgument that workers dislodged by technological changes in the economy would be re-employed immediately due to subsequent wage reduction and the growth of the investment goods sector (Mongiovi 3). Modigliani criticized the problems of capital deficiency that were overlooked in the standard discourses. He also censured the prospect of destructive recursive effects of the rationality theory of wage reductions on employment and aggregate demand (Mongiovi 4). As a remedial measure, his approach advocated for the theory of marginal productivity that would allow a partial substitution between labour and capital, resulting to the closest approximation to fiscal reality that is possible on the basis of rational expectation theory of a market economy (Mongiovi 4).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the contrary, the Rational Expectations Model proposes that economic agents employ the best possible economic theory to predict unemployment levels, price and wages. Market prices are expected to have all pertinent information needed to forecast and to make decisions. Each economic agent has his own forecast, which may differ from the actual prices. However, forecasted prices and wages will be spread around the actual prices and wages (Bortis 2). A significant facet of the Rational Expectations Model and the neoclassical model is that savings are invested. The market for new capital stocks creates equilibrium between savings and investment at full employment level via variation of the interest rate. The Walrasian model undeniably mirrors an absolutely self-governing economy, suggesting that there exists a strong inclination towards equilibrium. Employment and output are usually given at full employment levels such that a natural rate of unemployment- structural and voluntary-exis ts. Equilibrium is thus achieved through a market that functions efficiently. On the macroeconomic echelon, the demand curve depends on the real balance effect while the supply curve mirrors scarcity of resources. With a given amount of money, the macroeconomic demand rises when prices decline in the event of excess supply and vice versa. The Rational Expectation Approach is thus based on the assumption that a competitive market economy is constantly in equilibrium (Bortis 2). Neoclassical-Keynesian verses Rational Expectation Approach One of the major developments in economic theory during the economic crisis in 1970s was the emergence of the rational expectations approach to macroeconomic analysis. This theory is based on two fundamental premises: expectations are formed rationally; and that total supply is inelastic to the anticipated changes in the aggregate price level. The second hypothesis, postulates that a shift in total demand will influence output only and that the ensuin g price levels diverges from the expected price. The implication of the rational expectations theory is that fiscal and monetary policies cannot methodically stimulate expectation errors by the producers (McCallum 418). Therefore, on the basis of the second hypothesis, authorities are unable to design monetary and fiscal policies that can systematically influence unemployment and output rates. As a matter of fact, authorities can neither sustain high output permanently nor decrease the magnitude of output fluctuations around capacity levels. Although a rare output inflation trade-off exists due to unanticipated shocks, authorities cannot utilize this trade-off in any constructive manner (McCallum 419). In spite of the logical rigour and elegance of the Rational Expectations Approach, the Neoclassical-Keynesian school has generally rejected its policy implications. One of the key reasons relates to the prevalent belief that the pace of price-level changes needed in the rational expec tations approach is much greater than one witnessed in real economies. A significant outline of this disapproval focuses on the market-clearing facet of the rational expectations approach. For example, in the Sargent Wallace model, prices are assumed to be absolutely flexible such that aggregate demand and supply are adjusted to maintain equilibrium in each period. However, according to Neoclassical-Keynesian theory, prices adjustment is too slow to create equilibrium between demand and supply in each period (McCallum 419). However, some critics (neoclassical-Keynesian school) argue that the assumptions of the rationality approach are highly credible. The critics of the rationality approach point to the assumption that endows the private economic agents with perfect information about the monetary authority’s policy decisions and the economic structures. However, this account is not necessary to give way to the conclusion that monetary policy cannot be used as a stabilizing in strument. It is reasonable to make an assumption that expectations are created so that there is no systematic connection between the economic agent’s (firms and individual households) expectations errors and the information required by the authorities to be used to control the money stock (McCallum 432). Neoclassical-Keynesians verses Monetarist According to Modigliani, there are no apparent differences between the Neoclassical-Keynesians and Monetarists on fundamental macroeconomic issues. The Neo-Keynesian paradigm is quite consistent with key revolutionary macroeconomics theories developed in the past decades. A number of the main tenets of neoclassical-Keynesian school include: first, inelasticity of prices is a major impediment the major function of monetary policy. It also brings about the short run non-neutrality of money. Given that some prices are partially elastic, inflationary pressure stimulates relative price changes that have impact on welfare; second, the abras ions that exist in relatively profound monetary economies are second in the order of merit (Williamson Wright 13). These frictions encompass precise descriptions of specialization that creates information asymmetry in the market, thus giving credence to media as a platform for exchanging information; third, there exist a short-run Philips curve swap between output and inflation (or unemployment). Monetary policy can stimulate a short run rise in the aggregate output by raising the rate of inflation; finally, the central bank is seen as the institution that can set up short term nominal interest rate with respect to macroeconomic conditions (Williamson Wright 13). Thus, the neoclassical-Keynesians support the current role of central banks with respect to instituting monetary policies to increase aggregate output. The clear similarity between the neoclassical-Keynesian school and monetarist is that they both support the role of central bank as an institution that can stimulate output through monetary policies. According to Modigliani, both schools are in concurrence that achieving a low inflation rate should be the main focus of any monetary policy. Moreover, monetary policy is seen as a process that determines the volume of money in circulation. The optimal monetary policy entails reducing the inconsistency in the growth of monetary aggregate. The two schools also agree that although sticky prices are important in producing short-run non-neutralities, they are irrelevant to monetary policy. Moreover, inflation and inflation uncertainty bring about welfare losses in the economy. Both schools give credence to the existence of a short-run Philips curve trade off although the monetarists argue that the central bank should not attempt to utilize it (Williamson Wright 14). The Differences between Rational expectation approach Monetarist One of the key facets of the neoclassical economics is that in order to find out the economic consequence of a theoretical change in government policy, such as tax cut, it is essential to consider the likelihood of individual households and businesses reacting to changes in government policy by making their own economic choices. Thus, according to the neoclassical economic theory, expectations of households and businesses are designed in the most perfect way according to the information accessible to them. This phenomenon is called rational expectations (Espinosa Russell 18). However, the rational expectations approach has attracted criticism from the monetarist school since it requires unrealistically high level of economic information and exceptional forecasting abilities by firms and households (Espinosa Russell 22). On the other hand, the basic tenets of monetarism emerged from a conference at the Federal Reserve Bank of Minneapolis in 1970. Significant precursors to this school included Samuelson (1956), who presented a model of money in general equilibrium, and Lucas (1972), whose writings ignited the rat ional expectations rebellion and with it, a shift towards integrating vital macroeconomic theories. The monetarist differ from the rational approach in a number of significant ways: first, since the rational approach ignores crucial elements of economic theory, their policy recommendations can be severely erroneous; the fiscal policy is vital for the effect of monetary policy; as opposed to the rational approach, monetary economics can utilize macroeconomic theory in other areas, such as public economics and finance (Williamson Wright 14). Friedman, who represented the old monetarist ideas, argued that although money was any object that could be employed as a medium of exchange, it was irrelevant with respect to the analysis of monetary policy (Williamson Wright 13). While old monetarist were critical of the role of the central bank on monetary policy, the rational expectations approach posited that the role of t central bank was necessary in order to institute a dynamic monetary po licy to counterbalance aggregate instability rather than leaving it to the private sector (Fisher 213). According to the rationality approach, the central bank’s ability to influence allocation of resources relies on its ability to influence real interest rates and therefore savings. Expansionary monetary policy reduces the real interest rate by increasing the anticipated inflation rate (Fisher 215). On the contrary, the old monetarist stressed that monetary policy was non-neutral in the short-run and its utilization by central bank would increase inflation rate. Thus, the monetary policy should focus only on long run inflation (Williamson Wright 14). Works Cited Bortis, Heinrich. Remarks on the use of Mathematics in economic Theory. The Example of the Appropriate Macroeconomic Foundations of Financial analysis. Switzerland: University of Fribourg, n.d. Espinosa, Marco, and Russell Steven. History and Theory of the NAIRU: A Critical Review. Atlanta: Federal Reserve Bank of At lanta, 1997. Fiher, Stanley. On Activist Monetary Policy with Rational Expectations. Chicago: University of Chicago Press, 1980. McCallum, Bennet. â€Å"Price Level Adjustments and the Rational Expectations Approach to Macroeconomic Stabilization Policy.† Journal of Money, Credit, and Banking 10.4 (1978): 418-436. Mongiovi, Gary. â€Å"Franco Modigliani and the socialist State.† New York’s: John’s University Jamaica. n.d. Reuss, Alejandro. â€Å"That ‘70s Crisis†. What can the crisis of U.S. capitalism in the 1970s teach us about the current crisis and its possible outcomes? Dollar Sense. Web. November, 2009 http://www.dollarsandsense.org/archives/2009/1109reuss.html Williamson, Stephen Wright, Randall. â€Å"New Monetarist Economy†, Key Developments in Monetary Economics Conference. The Federal Reserve Board. Web. https://www.federalreserve.gov/events/conferences/kdme2009/HTML/paper2/index.html This essay on Economic policies matters of the Crisis of 1970s was written and submitted by user Jaylah Q. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Depression essays

The Depression essays If you lived between the years 1929 and 1940, would you survive? The stock market crash of 1929 was an indication of serious underlying problems in the United States economy, but it was not the sole cause of the Great Depression. The crash merely made the cracks in Americas superficial prosperity much more obvious. And, since the causes of the economic crises were complex, the solution to the economic problems facing the United States would be complicated as well (Rogge 67-68). After the great crash, the American public sought a scapegoat for the economic collapse. Some held president Hoover responsible, others targeted the three Bs; brokers, bankers, and businessmen. But, the cause of the Great Depression could not be attributed to one individual or even a group of people. The roots of the Great Depression were in the very structure of the American Economy (Rogge 67-68). The Great Depression, a major even in the United States history. The Depression lasted through most of the 1930s. Everyones life changed greatly during that time. Millions of people lost all their savings. Seasons were a part of what some people ate during the Depression. They lived on farms and when the crops did not grow, their menus changed. And, many people ended up sleeping in a shelter for the unemployed. One farmer describes the close friendships made during this time. He explains how there was no relationship between income and the enjoyment of life (Looper). Ninety-nine year old Fentress County man recalls the Great Depression era. Enlo Looper of Clarkrange, Tennessee was only nineteen years old when the Depression began. From 1930 to 1940 some people had it tougher than others. Some just barely got by, and some did not live to see the end of the Depression. Fortunately, for this farmer, Enlo Looper, lived to retell this hard time in Americas history. While Enlo and his family had it easier th...

Human Resource Issues Facing Companies

Human Resource Issues Facing Companies Introduction Human resource is the group of individuals who build up the work force of a company, a business or an organization. This is the team that helps steer an organization to success. The human resource department is the division charged with the responsibility of seeing to it that this team is fully effective.Advertising We will write a custom essay sample on Human Resource Issues Facing Companies specifically for you for only $16.05 $11/page Learn More It is also expected to maintain a good relationship among employee. Issues causing tension between leaders of an organization and employees are also handled by this department. The department is also charged with other responsibilities such as interviewing, attracting, selecting, training, assessing and hiring employees. This is so as to ensure stable work flow in an organization and also avoid unnecessary delays in line of duty. Workers’ welfare and grievances are also looked into by the depar tment and necessary recommendations made to the management. The human resource department is vital to a business regardless of how big or small the business is (Merkle 2006). This paper seeks to analyze factors affecting the human resource department. The paper will take as its case study human resource departments in New Zealand, a country that was hit by the Christchurch earthquake. This had devastating effects on the native businesses and to the economy at large. The human resource sector was not spared. This is largely due to the massive displacement of population. Recommendations will also be made on possible measures to mitigate these effects. Government efforts in trying to control the situation will also be discussed. Challenges Facing the Human Resource Department Despite its importance to an organization, the department faces numerous challenges. The major problem facing the department is talent shrink (Guyton 2009). As explained earlier, human resource is the actual workf orce that drives a company or business.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Without talent and skills, dismal performance is likely to be recorded by a business (Mayo 2008). Lack of talent also lowers the level of expertise exhibited by workers in an organization. The Christchurch earthquake forced many people to migrate from their homes and places of work. This caused brain drain with many businesses and companies left with few workers. Work negativity among employees is also a major challenge facing the human resource departments in many companies. Lack of job satisfaction among workers creates negativity. This may also be as a result of unfavourable environmental conditions. Natural disasters such as the Christchurch earthquake instil fear among workers and kill their morale. This fear leads to unfavourable working conditions. This trauma greatly reduces the efficie ncy of the workers and the businesses’ output. Workers also lose faith in the business’ success since they feel all their hard work would be in vain in case a future disaster destroys the business. Managing demographics has also proved to be a difficult task in the human resource department. This is the inability to balance the population of both young and old in the workforce. The young population is believed to harbour great ideas while the old population is considered to be knowledgeable and experienced. It is therefore important to integrate the two in equal measures to reap maximum benefits. Natural disasters displace populations especially the young and able. This is because they have lesser ties and are more flexible. Such people move to more secure regions in search of jobs leaving their old posts vacant. The old are left behind to run the affairs of the business in the absence of their young counterparts. This young population would also serve as future leader s of the businesses. Such businesses have no future in the market. Increased cost of labour is also a major problem facing the human resource departments. When a disaster occurs (as was the case with Christchurch earthquake), businesses are faced with brain drain as a result of migration. This causes an increase in the demand for labour.Advertising We will write a custom essay sample on Human Resource Issues Facing Companies specifically for you for only $16.05 $11/page Learn More Those experts left behind resort to hiking the cost of their services to replace the departed ones. Additional salaries for workers increase the operating costs for these businesses resulting to a decline in turnover. A scenario arises where businesses pay more to workers yet they are making less than before. This can at times lead to the collapse of these businesses (O’Brien 2009). Evidence Gathering Procedures The article uses New Zealand as its reference point. Having be ing hit by a natural disaster, the area was more vulnerable to problems facing modern business firms and settings. Focus is more likely to be on the human resource departments since they are the ones charged with restoring order in the businesses. There was need to restructure the human resource so as to prevent more damaging outcomes. Businesses used in the research are chosen randomly and the research team immediately embarked on the study. The researchers analyzed the performance of the businesses prior to and after the earthquake and documented their findings. Human resource department leaders were interviewed and their views as to the state of affairs before and after the Christchurch earthquake recorded. Those who sought anonymity were assured that their identity will not be revealed. Issues Facing the Human Resource Departments The first blow to the human resource department was talent shrink as earlier indicated. This is however a common problem in the department. It results to poor working skills and is injurious to a business since it signifies deficiency in expertise (Ulrich 1996). This phenomenon was common in the case of New Zealand whereby many people moved out of the country to seek alternative jobs in an attempt to escape the effects of the earthquake. The workforce left behind comprised of less experienced and talented people who found it hard to reverse the downward trend. Because of this demand for workers, the cost of labour shot up. This meant that the businesses would pay more for labour provided to them despite their losses and the diminishing returns. Migration of the country’s population also robbed the businesses of the much needed market for their goods and services. This triggered more problems than solutions for the businesses some of which closed down due to diminished returns.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Work negativity is also a great problem facing the human resource department in many businesses. Considering the case of the Christchurch earthquake in New Zealand, billions worth of property was lost. Those who suffered lost the morale to work hard and felt that their days of hard work had gone to waste. Some of the workers lost their homes and jobs due to tragedies such as collapsing of houses. Scores of people lost their lives during the tragedy and left their loved ones disoriented. Such uninspired workers are likely to produce diminishing returns that are of no economic importance (Towers 2007). Great demographic variations are also a common problem facing the human resource department. General imbalance between the old and the young in a business is injurious to the business. This inhibits flow of ideas in the business. It also puts the life and future of the business at risk because the young are supposed to replace the old upon their retirement. The old also gives guidance t o the young because of their accumulated knowledge and experience in line of duty. It is not surprising to see that many businesses partner the old with the young to facilitate flow of ideas. In the case of New Zealand, the earthquake claimed the lives of some of the dwellers while others migrated to avoid this disaster. This left a void in many businesses. Majority of those who fled the effects of the Christchurch earthquake were young individuals who sought to find better living and working conditions without fear and risks. Native businesses had to start employee recruitment exercises to fill the vacant positions. A lot of time and other resources were also used before the workforce could start functioning properly. Problems facing the human resource sector can be compared to a chain reaction where one action gives rise to another and the chain keeps repeating itself. Efforts to mitigate the effects of one action indirectly lead to a new reaction. As explained earlier in this pap er, one problem leads to another. Talents shrink causes demand for skilled labour. Rise in demand for labour thus results to rising costs of labour (DeGraff 2010). Increasing cost of labour will also lead to inflation. Inflation triggers increased spending and workers loose morale since every penny earned goes into settling of bills and into household consumption. Work negativity arises and workers loose the urge to work hard because of unfavourable returns. Growing dissatisfaction then results to workers moving out of the country and out of jobs to work in areas with better rewards. The migration of workers in search of better working conditions leads to demographic imbalances in the business. This demographic imbalance threatens the life of the business. This means that the ratio of old to young workers is unfavourable. This may be as a result of worker migration. This leads us back to the beginning of the cycle that is talent shrink. This is what happened in the case of New Zeala nd. Attempts to stabilize the economy by offering loans to members of public led to inflation. The inflation makes living standards intolerable and the country’s population resort to moving out of the country. The migration of the country’s population also results to talent shrink that triggers a demand for labour that leads to an increase in the cost of labour (Wright 2011). Inflation leads to work negativity which makes people to move out in search of better returns. Migration also triggers demographic imbalance further aggravating the situation. The cycle repeats itself over time. Measures should be devised to try and change this turn of events for the better. Recommendations for the Government To try and change the situation, the paper makes some recommendations on what governments should do to normalise the situation. These measures would be aimed at preventing the recurrence of the negative effects and to change the economy once and for all. The governments shoul d start by initiating policies that will reduce the flow of money in the economy. This will be made possible by suspending lending of money to the businesses. The economy should be given an opportunity to heal itself gradually. Research has shown that pumping more money into an already ailing economy is not beneficial. To stop financial institutions from lending, the government will resort to measures such as increasing its lending rates to the banks. People should also be sensitized on the negative effects of borrowing (Conaty 2011). The government can also discourage brain drain through imposing policies that discourage travelling out of the country (Esbon 2010). The government could also impose penalties to individuals going to work outside the country and encourage the spirit of patriotism. People should be encouraged to focus on the bright future ahead rather than on the dull present (Ziment 2008). The government should also import skilled labour if possible. It should also res ort to training its own citizens to curb shortage (Elwood 1996). Expertise can be said to be the driving force behind prosperity. The government can also intervene and help in the reconstruction of destroyed structures. This does not necessarily mean pumping more money into the economy. Unskilled labour can be mobilized to undertake the reconstruction exercise. Conclusion It is a fact beyond doubt that human resource departments are the driving force behind any successful business. The department should therefore be strengthened and its recommendations implemented fully. Factors facing the human resource department also affect the entire economy (Esbon 2010). The government should be at the forefront in implementing policies that would strengthen the economy thus aiding the human resource department. References Conaty, Bill. 2011. The Talent Masters: Why Smart Leaders Put People Before Numbers. New York. Crown Publishing Group. DeGraff, Jonathan. 2010. The Changing Environment of Pr ofessional HR Associations. Boston. Harvard Business School Press. Elwood, Hellwood. 1996. Trends Toward a Closer Integration of Vocational Education and Human Resources Development. New York. Crown Publishing Group. Esbon, John. 2010. Insight on human resource development. New York. Free Press. Guyton, Hall. 2009. Human Resource. London. McGraw-Hill. Mayo, Elton. 2008. Hawthorne and the Western Electric Company. Boston. Harvard University Press. Merkle, Judith A. 2006. Management and Ideology. California. University of California Press. OBrien, Michael. 2009. HRs Take on The Office Human Resource Executive. California. California University Press. Towers, David. 2007. Human Resource Management Essays. California. University of California Press. Ulrich, Dave. 1996. Human Resource Champions. The Next Agenda for Adding Value and Delivering Results. Boston. Harvard Business School Press. Wright, Patrick. 2011. CHRO Challenge: Building Organizational, Functional, and Personal Talent. Bo ston. Harvard Business School Press. Ziment, Peter. 2008. Managing Human Resource in Disasters. New York. Free Press.

Burning Chrome An Analysis

Burning Chrome An Analysis The story is about Bobby, Jack and Rikki. Bobby is an expert hacker specializing in software while Jack is the same but specializes in hardware. The story begins in Bobby’s loft, the two men huddling together in an attempt to hack into a system that will make them rich beyond their wildest dreams.Advertising We will write a custom essay sample on Burning Chrome: An Analysis specifically for you for only $16.05 $11/page Learn More At the end of their struggle they were triumphant in the biggest score of their young lives but they paid a terrible price for it. Interestingly, they were regular hackers who were content in making money but not more than enough that they will get caught, at the end they wanted to get rich quick because they know that they are getting older and slower but more importantly because they are in-love with the same woman but only Jack knows about it. Character and Commentary The main characters: Bobby, Jack and Rikki went through a major change in their personality and in their worldview and how they tried to deal with the sudden transformation of their individual lives. Although they have different backgrounds, Bobby seemed a true-blooded nerd who always loved computers while Jack seems the more adventurous type who happens to also like computers and its ability to make money without going through the rigors of the rat race. Rikki on the other hand can be compared to a girl who came from the boondocks and content to enjoy life and focused not in the more serious side of life but in how she can buy the things that she believes are important to her. All came from different starting points but they are converging into one goal and one place – they are willing to go deep into cyberspace to make a great deal of money doing something very risky because they believe that striking it rich is the only way that they can be happy. In their intertwined lives of Bobby, Jack, and Rikki, the author – Willia m Gibson – was given a platform to talk about the problems faced by young men and women who had to deal with the same anxieties and desires as the people of an earlier generation but this time around they had to do it with the advent of new technology that is both difficult and scary to deal with. This is also a reflection of the impact of modern technology to the lives of the young as they grapple with new ways to survive and thrive in a world controlled by things that are very powerful and yet unseen and misunderstood.Advertising Looking for essay on american literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More The characters in the story depicted the kind of lifestyle evident in the post-modern world. Bobby is someone who has great talent and he is able to bend the rules because of that talent and yet he is lost. In the past, society was predictable. Parents would aspire their children to be physicians, lawyers, eng ineers, accountants, etc. and the moment this decision was made the children will conform to the dictates of society, partially because they also have the same values and they have the same goals and also partially because they are also afraid of the backlash of rebelling against these norms. In the post-modern world however there are alternative ways to make a great deal of money and there area also alternative ways to gain the respect of people. Bobby, Jack and Rikki may not possess the credentials and the pedigree that would have given them access to Wall Street or some glitzy establishment that will ensure them not only of a fat paycheck but the adoration of the crowd, and yet they have the power to experience the lifestyle of the rich and famous even if they technically do not posses the means. This is their dilemma; they live in the grey area of society. They are not criminals based on the ancient way of interpreting what a crime is and what is the typical profile of a law bre aker. This is because they commit crimes without even leaving their homes and without serious physical exertion except the slight movement of the hands and the fingers to type certain key phrases, keywords and passwords. In the beginning Bobby was the picture of confidence and skill but at the end he was reduced to someone who cannot function without the things that he can use either it is liquor or women. In the beginning Jack was seen as an able partner, an equally talented intrusion specialist like Bobby but as the story progresses the reader sees more and more of his stump, his hand was cut-off some time ago and this has given him an insecurity that is hard to explain but painful nonetheless especially when it comes to his love for Rikki. At the end of the story the reader witnessed a complete transformation in their lives. Bobby who was supposed to be always in control was revealed to be a person controlled by lust. Jack who at first was seen as a very capable man was slowly se en as a man struggling with a handicap. He was a one-armed man who felt that there are so many things that he cannot do.Advertising We will write a custom essay sample on Burning Chrome: An Analysis specifically for you for only $16.05 $11/page Learn More His love for Rikki was the ultimate proof that he could not live life without Bobby for he will only love the things and the people that Bobby loves. He ended being with him, used like a crutch, instead of being with the person that he loves and the things that he really wanted to do and accomplish in life. Human Problem and Human Solution According to Theodore Sturgeon a science fiction story is built around human beings and therefore the fictionalized narrative with futuristic setting and mind-boggling technology are just there as a backdrop for something that is more important than the material realm; it is just the foundation used to build up a story about a human problem and a human solution. The stor y â€Å"Burning Chrome† is replete with gadgets and technology but these were all just smokescreens because at the heart of the story was the struggle of two men. They knew that they are not going anywhere socially and economically speaking. It is a struggle faced by many people. There are just so many people out there who cannot move forward and feels like they have no choice but to simply stagnate. There is also the all too familiar conflict between two friends, they complement each other like cookies and cream, like coffee and sugar but they are also so much different. They use different methods on how to accomplishing things and yet they are also so like-minded that they can finish each others sentences. And finally they are so close that they even ended up loving the same woman. This is the conflict of the story, two people who are inseparable because they create perfect music together and yet circumstances in their lives dictate that they had to part ways. Gibson create d a story that is similar to those found in Greek tragedy. Two people, that the audience can consider to be brothers had to destroy each other to realize their dreams and to fulfill their desires, but the woman of their dreams are not even interested in them, she is only there because of the action, the thrill and the things that she can get from them. Dealing with the Alien Another facet of a good fiction story is the element that deals with the alien. It could be an alien planet, an alien being or alien surroundings. It has been also said that the authors did not really mean to talk specifically about aliens but simply using a metaphor to talk about life. And indeed it is true that in the quest for life, in the journey that everyone has to take he or she will inevitably experience an encounter with the alien.Advertising Looking for essay on american literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the case of Bobby and Jack they needed to confront an idea that is very foreign to them and it is the fact that they needed to find another job, to find another source of income. But they are hackers for as long as they can remember and they cannot imagine doing anything different. Nevertheless, the day was fast approaching that they really need to abandon their pirate ways and that fact alone has brought them intense anxiety and foreboding because they could not imagine how to find meaning outside their current world. Conclusion It was supposed to be fiction and it was supposed to be about gadgets, technology and the future but it was so much more. The author was simply using everything, the language used, the computers, and the various activities that the characters engaged in to illustrate the complexities of life. The characters represented humanity and the challenges and pressures that mankind had to deal with in the past decades. The world was radically changed by technolog y that it now dictates man’s way of life. Bobby, Jack, and Rikki also illustrated real life problems that include money, love, friendship, boredom, lust, and everything else related to it. Gibson, William. â€Å"Burning Chrome.† Web.

Victim of Servre Depessive Disorder Essay Example | Topics and Well Written Essays - 500 words

Victim of Servre Depessive Disorder - Essay Example Here, too, Betsy is ripe for succumbing to the availability heuristic on the easily remembered situation of her brother, and the recent data coming from her parents. Framing contributes to Betsy's anxiety because of the natural tendency of children to believe parents. "Framing is a process of selective control over media content or public communication"(Wikipedia.org, 2006). Probably without realizing it, Betsy's parents have exerted "selective control over media content" by not researching the facts further, thereby leaving Betsy with only two assumed facts; one, her brother suffers from severe depression; and two, there is a 40 percent chance she will also suffer from depression. The parents comment constitutes a "frame" that easily calls to mind the common mis-perception that depressive diseases are hereditary. When in fact, the list of causes determining depressive disorders is lengthy and complicated. Confirmation bias will add to Betsy's depressing conclusions because it is "a phenomenon wherein decision makers have been shown to actively seek out and assign more weight to evidence that confirms their hypothesis, and ignore or under-weigh evidence that could disconfirm their hypoth

Case analysis Essay Example | Topics and Well Written Essays - 750 words - 3

Case analysis - Essay Example on the increase due to shortage of water sources and the high rate of population growth hence little water and its sources should be conserved and managed carefully. Water is quite and essential, scarce and consumable resource; it should be managed at all cost. Water management processes are multi objected in that there are many reasons for conserving water; domestic use, agriculture, hydro power generation, recreation and recycling. Many water conflict management projects have been aimed at economic developments, protecting the environment and other strategic interests of the stakeholders (Ines, 2007). Communication is quite important when it comes to solving of any conflict or dispute. In the contemporary society, conflicts and disputes are a normal occurrence due to the social, political, economical and cultural differences between people. Water is quite a unique and vital resource that has no substitute. However, in many parts of the world the quality and quantity of water is decreasing due to exploitation by humans through their various activities. This has posed many problems to many as most depend on water (Aaron, 2007). As a result of water shortage, conflicts have risen between different societies, communities and even states over the existing natural water sources. Although water based wars have never occurred, tension still lies over water catchment areas as to who should control the water. According to Dabelko (2010), managing of water helps in resolving conflicts which are brought about by different reasons. Management of water can be used as a medium for settling conflicts in different perspectives. Firstly, good water management practices enhance good neighborliness. Through water conservation, different communities or people co-operate thus enhancing harmony between them. Water related harmony plays a vital role in solving of conflicts. All living beings rely on water for survival and so in order for people to live they will have conserved their

How has the Zapatista Army of National Liberation contributed to Research Paper

How has the Zapatista Army of National Liberation contributed to Democracy in Mexico - Research Paper Example They started out as a small group of progressive Indians which eventually grew into thousands. They organized themselves in the jungle, away from the prying eyes of the government and its ruthless military. The EZLN’s history did not happen overnight. It was the product of careful and clandestine planning and organizing. â€Å"We did that for many years, and we did it in secret, without making a stir.   In other words, we joined forces in silence.3† After ten years of organizing and training in the jungles of Chiapas, The Ejercito Zapatista de Liberacion or EZLN was born, otherwise known as the Zapatista Army of National Liberation. They took the name of Emiliano Zapata, a Mexican Revolution hero who championed land reform in Mexico and is also celebrated as the champion of the indigenous people in Southern Mexico.4 EZLN is a revolutionary group that adheres to the ideals of non-violence. Throughout their history, the only instance of violence on record is the 12 days of armed fighting following the January 1, 1994 takeover of four municipalities in Chiapas, namely, San Cristobal de las Casas, las Margaritas, Altamiro, and Ocosingo.5 Almost apologetic to the affected citizens and civilians, they put great emphasis on their declaration that the armed struggle was a measure of last resort because their previous nonviolent actions received little to no government attention and response.6 After 12 days of armed fighting and bloodshed on both sides, the Mexican government and the Zapatista entered into a ceasefire to make way for a peace process. Since then, the EZLN have successfully continued on the fight without shedding blood, combatant or civilians although they have continued with their member’s training in the handling of weapons and arsenals. Nevertheless, the Zapatista is still a military movement. Oxymoron as it may sound, but the Zapatista is an armed movement that carries its struggle in nonviolent ways.7 In the very same way that the EZLN seem to contradict itself on its position on the issues of violence and rebellion, their ideology is also a subject of debate. This confusion is brought by the lack of a categorical statement from the Zapatistas themselves as to their specific ideology. Their enumeration of goals and demands which could be identified with the ideals and ends sought by groups from both ends, including those in between of the political spectrum does little to no help either. In their various declarations, they merely refer to themselves as the â€Å"simple and humble† â€Å"Zapatistas of the EZLN.†8 On the one hand, there are some who observes that the EZLN rose out of the ranks of the leftist movements that espouse Marxist-Leninist ideals. It is argued that their demands enumerated in the First Declaration of the Lancandon Jungle are in accord with the leftist sentiments. The EZLN’s demands include "work, land, housing, food, health, education, independence, liberty, dem ocracy, justice, and