Introduction to Purchasing-Power Parity

The idea that identical items in different countries should have the same real prices is very intuitively appealing- after all, it stands to reason that a consumer should be able to sell an item in one country, exchange the money received for the item for currency of a different country, and then buy the same item back in the other country (and not have any money left over), if for no other reason than this scenario simply puts the consumer back exactly where she started. This concept, known as purchasing-power parity (and sometimes referred to as PPP), is simply the theory that the amount of purchasing power that a consumer has doesnt depend on what currency she is making purchases with. Purchasing-power parity doesnt mean that nominal exchange rates are equal to 1, or even that nominal exchange rates are constant. A quick look at an online finance site shows, for example, that a US dollar can buy about 80 Japanese yen (at the time of writing), and this can vary pretty widely over time. Instead, the theory of purchasing-power parity implies that there is an interaction between nominal prices and nominal exchange rates so that, for example, items in the US that sell for one dollar would sell for 80 yen in Japan today, and this ratio would change in tandem with the nominal exchange rate. In other words, purchasing-power parity states that the real exchange rate is always equal to 1, i.e. that one item purchased domestically can be exchanged for one foreign item. Despite its intuitive appeal, purchasing-power parity doesnt generally hold in practice. This is because purchasing-power parity relies on the presence of arbitrage opportunities- opportunities to risklessly and costlessly buy items at a low price in one place and sell them at a higher price in another- to bring prices together in different countries. (Prices would converge because the buying activity would push prices in one country up and the selling activity would push prices in the other country down.) In reality, there are various transaction costs and barriers to trade that limit the ability to make prices converge via market forces. For example, its unclear how one would exploit arbitrage opportunities for services across different geographies, since its often difficult, if not impossible, to transport services costlessly from one place to another. Nevertheless, purchasing-power parity is an important concept to consider as a baseline theoretical scenario, and, even though purchasing-power parity might not hold perfectly in practice, the intuition behind it does, in fact, place practical limits on how much real prices can diverge across countries. (If you are interested in reading more, see here for another discussion on purchasing-power parity.)

Slaughterhouse Five, And The Children s Crusade A Duty...

Free will or the lack thereof is one of the most significant themes throughout the novel Slaughterhouse-Five, or The Children’s Crusade: A Duty-Dance with Death written by Kurt Vonnegut. This book follows the story of a man, Billy Pilgrim, throughout his experiences during the World War II or more specifically the bombing of Dresden, Germany, his time on Tralfamadore, and scattered events throughout his lifetime. The readers are told that Billy is a time-traveler; he cannot control when he will leave when he comes back, or to what point in time he is traveling to, but he relives events throughout his life multiple times because of it. In several points in the book, Vonnegut writes about the concept of free will. The Tralfamadorians that†¦show more content†¦That will never change. Free will is not a concept to them, and according to their studies on the thirty-one planets they have visited, Earth is the only one with that concept. Every other planet is not oblivious to what is right in front of them. In their eyes, free will is simply the ability to accept fate, what is going to happen, will always happen, and has always happened. This is just simply their perspective and is also expressed through the quote â€Å"So it goes.† which is said countless times throughout the entire novel. This seems to be the Tralfamadorian motto or catchphrase, meaning whatever happens, happens. This is mainly said after a talk about death; when someone dies, Vonnegut says â€Å"So it goes†, so as to be not as emotionless as ‘oh well’, but to have a fairly close meaning, because no one had control over the action, there is nothing else to say. Back during the time of the war, an American whispers under his breath something that a German guard heard and was able to understand. The guard knocks the soldier down, and the soldier looks up at him to ask, â€Å"Why me?†. The guard who is clearly aggravated by what the soldier had said replied â€Å"Vy you? Vy anybody?â₠¬  (Vonnegut 44). This was a reinforcement of the conversation between Billy and the Tralfamadorian, though now the soldier seems to say it almost as if he does not want to be there just as much as the Americans. The soldier isShow MoreRelatedGeorge Orwell s The Slaughter House Five1302 Words   |  6 PagesViews on War in Vonnegut s Slaughter House Five Many people returned from World War II with disturbing images forever stuck in their heads. Others returned and went crazy and terrors faced. The protagonist in Slaughter-House Five, Billy Pilgrim, has to deal with some of these things along with many other complications in his life. Slaughter House Five (1968), by Kurt Vonnegut, Jr., is an anti-war novel about a man’s life before, after and during the time he spent fighting in World War II. WhileRead MoreThe Movie Slaughter House Five 1810 Words   |  8 Pagesabout 80 million. Kurt Vonnegut’s Slaughter House-Five mostly takes place during the war, specifically during the time of the infamous Dresden bombing. The main character, Billy Pilgrim, is an American soldier who lived to tell, and was present during, the bombing. It is through Billy Pilgrim’s personal story that Vonnegut thoroughly reveals the harshness of war and its long term effects. Typically the reaction people exhibit after hearing about a death is sympathetic. They respond in a mournful mannerRead MoreInfluence of Early Lifa and War on Kurt Vonnegut Jr. to Encourage a Generation Against War 2263 Words   |  10 Pageshis novels comprehensible and inspirational to any reader. Although one of his most famous novels, Slaughterhouse Five, is based off of his experiences in World War II, during the time of its publishing, antiwar groups applied the novel’s themes to the Vietnam War. Early life tragedies and imprisonment established Kurt Vonnegut’s antiwar opinions in his semiautobiographical novel, Slaughterhouse Five, which would influence and encourage the younger Vietnam generation to protest an unnecessary warRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagespromoted or systematically engineer ed the massive episodes of rape, oppression, and genocidal killing that were major offshoots of a second global conflict in the early 1940s. The barbarous treatment meted out to tens of millions of men, women, and children in a decade that marked the nadir of recorded human history provided much of the impetus for a worldwide resurgence of human rights activism, agitation, and legislation that came to be centered in the United Nations after 1945. The two global

Consider how Shakespeare crafts Act 3 Scene 5 to appeal to the audience Essay Example For Students

Consider how Shakespeare crafts Act 3 Scene 5 to appeal to the audience Essay In the events leading up to Act 3 Scene 5, Romeo has been banished and so is spending a final night with Juliet. Furthermore the audience has just learnt that Lord Capulet has agreed to let Paris marry Juliet on Thursday. This leaves the audience worried for not only Romeos safety but also Juliet as her father is starting to show signs of anger. Knowing this makes the audience tense; this is good as Act 3 Scene 5 can (in a stage performance) go at the beginning of the second half. This means the audience is in suspense over the interval; they know there is a conflict coming, perhaps even involving violence. Having just left a scene showing anger, Shakespeare cuts straight to Romeo and Juliet together. This more romantic atmosphere has an opposite affect on the audience conjuring more tension; the audience wants to know what is going to happen to Juliet between her parents. Cutting from anger to happiness comes about again during the scene. A countdown to the climax has begun, the audience is impatient as they anticipate its coming. When Romeo and Juliet are in bed together they finish off each others lines with rhyming couplets. ROMEO: I must be gone and live, or stay and die. JULIET: Yon light is not daylight, I know it, I. (11-12) This composes harmony; in contrast these rhyming couplets only come when they are talking of leaving. This togetherness and separation go well together questioning the audience to whether Romeo and Juliet are a perfect couple? It certainly makes the audience think. Just after line 36 the Nurse enters hastily. Shakespeare uses few stage directions in his plays so on occasions when he does it is to be noted. The Nurses rushed entrance can either bring danger or there is a comic potential (or perhaps both). The Nurse already knows of Romeo and Juliets marriage but may not be prepared for what she might find. Mixed together, the tension of the forthcoming dispute and this comical happening it creates a good cliffhanger. The Nurse and Juliet address each other by their titles. These could be delivered in a variety of ways to create different effects. It creates danger, confusion and perhaps a chance for comedy in a couple of one-word lines. Throughout this scene many of Juliets lines are dramatically ironic. Methinks I see thee now thou art so low, As one dead in the bottom of a tomb. In the case of lines 55 and 56, as Romeo makes his leave, it is dramatically ironic as the audience already knows that soon Romeo will kill himself, and Juliet will see him dead (most likely in a tomb). This is also the last time Juliet will see Romeo alive and yet she is already seeing him dead. This makes the audience think and feel privileged, as they understand that her lines are ironic and in fact puns although Juliet herself does not know. Juliet uses more puns when she and Lady Capulet are talking. Although this time Juliet is aware of it as well as the audience, Lady Capulet is not. Yet let me weep for such a feeling loss. (74) All through their conversation the audience keeps thinking that Juliet is about to confess to her mother about Romeo. However, every time they are let and down and Juliets hints go unnoticed. This makes the audience more worked up and frustrated. The more the audience anticipates Juliets confession the more tension there is when her parents eventually find out (is they ever do). .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 , .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .postImageUrl , .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .centered-text-area { min-height: 80px; position: relative; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 , .u5e4a0519c0fcba6a0fdc2416bbd4e4c9:hover , .u5e4a0519c0fcba6a0fdc2416bbd4e4c9:visited , .u5e4a0519c0fcba6a0fdc2416bbd4e4c9:active { border:0!important; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .clearfix:after { content: ""; display: table; clear: both; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9:active , .u5e4a0519c0fcba6a0fdc2416bbd4e4c9:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .centered-text-area { width: 100%; position: relative ; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9:hover .ctaButton { background-color: #34495E!important; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9 .u5e4a0519c0fcba6a0fdc2416bbd4e4c9-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5e4a0519c0fcba6a0fdc2416bbd4e4c9:after { content: ""; display: block; clear: both; } READ: The dramatic significance EssayLady Capulet starts by trying to comfort Juliet, surely trying to befriend her. The audience, sometimes confused by her generosity, know of the Capulets agreement with Paris. Therefore they are suspicious and foresee a change in heart and another change in atmosphere; they know Lady Capulet has to get down to business. After a long wait Lady Capulet finally does her tine and informs Juliet of her arranged marriage with Paris; a shock for both audience and Juliet for it is done most obviously. It was common in the times of Shakespeare for children (mainly of rich and often girls) to be married to a person chosen by the parents. This was to gai n money, power or (and) to improve relations with other families, countries or regions. Despite the triviality of this Shakespeare seems to understand how a young woman might feel being married to some she does not know or like. Juliet gets very upset and refuses to marry. The audience is feeling sympathy for Juliet but also expect her to confess as last to get rid of Paris. There is a combination of excitement and fear that mix together well and get the audience on the edge of their seats. Juliets safety is now feared for though as Capulet is now known to be determined. He was in the previous scene and he will be now. Enter Lord Capulet. Oblivious to the scene so far and whose actions are to be feared by the audience. However the audience can see the plan as Capulet begins the same way as Lady Capulet. He tries to cheer up Juliet and then jumps to business in a quick change of atmosphere. How now, a conduit, girl? What, still in tears? Is this a sign of love, or is it just pure determination? From the way Lord and Lady Capulet have been portrayed I seem that they have a plan. The tension in the scene has been building up. So has the number of characters on stage. Two, three, one, two then four; building up to a climax. Brawls come is bigger numbers, peace and love comes with fewer numbers. The audience can understand the number of people of stage, they can tell when it is safe and when it is not. Capulets mood changes suddenly again when he hears that Juliet does not wish to marry Paris. He throws a fit scaring audience and characters on stage. He tries to put guilt on Juliet, the audience has much sympathy and their thoughts of Capulet do not improve but worsen. He is so angry and mad that at points he may even be beating his own wife. Fie, fie, what, are you mad? All on stage with the exception of Capulet are women. Capulets bad temper and throwing of insults makes him look quite a misogynist. After Capulet has left Juliet tries to speak to her mother and threatens to kill herself if she has to marry Paris. This is more dramatic irony as the audience knows she will eventually kill herself but not because of Paris. This makes the audience feel proud and perhaps think that Lady Capulet could have stopped both the death of Romeo and Juliet. This is what makes it so tragic. Lady Capulet ignores her. The whole of this scene seems to be coherent on the theme of death and suicide. Romeo and Juliet is a tragedy; this makes this scene so ironic. It is a major full of thoughts of death but does not include it physically. As Lady Capulet has left, Juliet now looks to the Nurse for support. However the faithful Nurse has changed and now fears Capulet and the loss of her job. She tries to persuade Juliet into thinking that she would be much better off with Paris. This betrayal is another shock to the audience; one of the last allies has changed sides it seems. Now the audience is waiting to find out what Juliet will do now her whole family is against her. They are confused and perhaps worried that Juliet seems to agree with the Nurse and thanks her. .uc696c1384b24fefd3a9d14d7a9ca4294 , .uc696c1384b24fefd3a9d14d7a9ca4294 .postImageUrl , .uc696c1384b24fefd3a9d14d7a9ca4294 .centered-text-area { min-height: 80px; position: relative; } .uc696c1384b24fefd3a9d14d7a9ca4294 , .uc696c1384b24fefd3a9d14d7a9ca4294:hover , .uc696c1384b24fefd3a9d14d7a9ca4294:visited , .uc696c1384b24fefd3a9d14d7a9ca4294:active { border:0!important; } .uc696c1384b24fefd3a9d14d7a9ca4294 .clearfix:after { content: ""; display: table; clear: both; } .uc696c1384b24fefd3a9d14d7a9ca4294 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc696c1384b24fefd3a9d14d7a9ca4294:active , .uc696c1384b24fefd3a9d14d7a9ca4294:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc696c1384b24fefd3a9d14d7a9ca4294 .centered-text-area { width: 100%; position: relative ; } .uc696c1384b24fefd3a9d14d7a9ca4294 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc696c1384b24fefd3a9d14d7a9ca4294 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc696c1384b24fefd3a9d14d7a9ca4294 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc696c1384b24fefd3a9d14d7a9ca4294:hover .ctaButton { background-color: #34495E!important; } .uc696c1384b24fefd3a9d14d7a9ca4294 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc696c1384b24fefd3a9d14d7a9ca4294 .uc696c1384b24fefd3a9d14d7a9ca4294-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc696c1384b24fefd3a9d14d7a9ca4294:after { content: ""; display: block; clear: both; } READ: Bram Stoker Dracula EssayThe scene ends with a second soliloquy from Juliet. This gives an insight to exactly what Juliet is thinking. Through the scene her discussions have been full of puns and lies. These soliloquies give her true feelings. This makes the audience to feel in touch with Juliet and helps to relate to her. Again Juliet says she shall commit suicide. She also shows that she is ashamed of the Nurse and even curses her. She is very upset and leaves the audience is suspense as they wonder what she will do if there is no way out. What will happen next? Shakespeare uses a lot of dramatic irony and puns to build tension within the audience. It is a scene full of irony. There are numerous chances for characters to change the course of the whole play for the better but they do not. This irony is what makes this a brilliant scene. The audience is forever in tension and on edge. Combined with the sudden changes in atmosphere it forms the perfect cliffhanger scene for the play.

The Future Of America Essays - Criminology, Crime, Social Psychology

The Future Of America The Future of America? A hungry boy stole food from a market, was caught, and his right hand was chopped off. The next week the same boy, stole fruit from an orchard, again was spotted, and his left hand was chopped off. A few weeks later, leaving the back door to a bakery open, his mouth full and eyes no less vibrant, the boy was caught once again. The men of the town were stumped, what was to be chopped off next? The men of the town did not know what to do, until someone offered giving the boy a job. The boy never stole again. As difficult as it may be to remain open-minded when addressing a situation, sometimes the alternative solutions are better than that of the extreme. Throughout American history, there is evidence of over-coming close mindedness. This evidence is seen in women's voting rights and African American's freedom. With the increasing youth violence present in America, we are once again given a task. This task, like that of Women's Suffrage and Civil Rights, is not going to have a simple s olution. If the men in the story above had not come up with an alternative solution, what would be chopped off next? Arms? Feet? After reading about this topic and all its perspectives, I believe that severe punishment will always fail to deter youth crime. Rehabilitation and prevention, as difficult as they may be to accept, deserve attention. Arguments have resulted from examining the increase of convicted youth criminals and the severity of crimes committed. The youth crime rate has reached a twenty year high, says Patricia Cohen in her article entitled, Punishment. Equally staggering she says, is the fact that from 1988-1991 the youth murder-arrest rate climbed 80 percent(518). Terrible crimes committed by youth are sometimes as serious as those of their adult counterparts. As a result, the term ?youth' is no longer synonymous with innocence. With this sudden madness, as coined by Males and Docuyanan in Crackdown on Kids: Giving Up on the Young, juveniles are being deferred into court at lower and lower ages(519). This can be seen in Wisconsin where ten-year-old children can be tried as adults for murder(519). Does imprisonment deter youth crime? Some people believe it is the only way to go, others disagree. Males and Docuyanan are among those who disagree, bringing up the point that, If more prisons and surer sentences were the solutions to crime and delinquency, California should be a haven where citizens leave doors unlocked and stroll midnight streets unmenaced(521). This is ironic because California having the third largest inmate system in the world, has failed to deter youth crime. Evidence for this is seen in California's youth murder-arrest rate; it is one of the highest in the world(520). The fact that poverty-level minorities comprise the majority of youth criminals, proves that imprisonment's failure to deter crime is a consequent of poverty's inability of being policed. Although time consuming and somewhat arduous, evaluating youth criminals cases for correlations can help us understand where the criminals are coming from socially and economically. One common denominator in many of the youth criminals case's as mentioned above, is poverty. Evidence for this strong correlation discussed by Males and Docuyanan, is seen in the cities like Los Angeles where economic gaps are well pronounced. Los Angeles, home to 200,000 poverty stricken adolescents, had more teen murders reported, than the whole state of California(520). Along with poverty, another similarity in these cases is that of race. African American and Hispanic youth account for six out of seven juvenile arrests(520). When these strong correlations are presented, the focus moves from the youth criminal as an i ndividal to youth criminals as a poverty-level minority. Society's obligations are being questioned here as part of our socity is seen to be struggling to survive. Although some victims of youth crime want to see the criminal held completely accountable for their actions, other victims recognize this issue as a wide spread problem, and would like to see it addressed. Deborah Dickerson in Who Shot Johnny?, described how her nephew was shot for no apparent reason by a youth criminal. The confusion, anger and feeling of loss that this