Moral Hazard: Economic Concept

The argument also fails to recognize what type of banking and financial environment america may have had simply because the mid1930s, if customer confidence in the procedure had not been restored largely in the creation of federal deposit insurance. Nevertheless, critics of federal deposit insurance from the United States have scored some gains, like a consequence in the savings and loan crisis. Legislation has been enacted into law that restricts the availability and software package of deposit insurance inside the United States.

Other economists argue that, in an economy characterized by moral hazard and multiple commodities, competitive equilibrium is not constrainedefficient (Arnott and Stiglitz, 1986, pp. 124). These economists argue that this kind of inefficiencies could be adequately corrected through (1) the taxation of harmful factors and/or behaviors, and (2) the subsidization of beneficial reasons and/or behaviors. Where economists such as Cyrnak (1986, pp. 13) use moral hazard as an argument to your assumption of greater risk levels by entities, economists for example Arnott and Stiglitz (1986, pp. 124) use moral hazard as an argument for greater governmental intervention in an economy.

While the approach of Arnott and Stiglitz (1986, pp. 124) can be employed to illustrate the methods wherever several causes and individual behaviors may affect societal welfare and individual welfare in quite various magnitudes, the approach also indicates that these kinds of a mod The idea of risk included in the context of corporation insurance programs holds that risk entails (1) the possibility of an bad outcome to an event, (2) the possibility of the genuine and recognizable loss, instead of a failure to maximize opportunities, and (3) the possibility of the true and recognizable loss, wherein some portion with the risk of such loss may be in a position to be shifted to another party. Once some portion of a risk is shifted to an additional party, the shifting party insures against the possibility of loss. In 1 sense, risk is considered to be a measure of uncertainty. In this broad context, everything that's done by a organization firm involves risk. This idea is valid, and, certainly, risk in whatever operation must be minimized by organizational management.

A risk is involved in the introduction of the new product, along with a risk is involved in hiring a new employee. You can find procedures that is certainly followed by organizational management to minimize this sort of risks. Risk in this context, however, is a broad concept. The cost of insurance forces several entities to assume greater proportions of risks associated with their activities since they can't afford to accomplish otherwise. Inside the context on the moral hazard concept, as an example, a manufacturing business may possibly decide that the most financially prudent strategy is to assure that a high level of safety is produced into their products, instead of relying on highcost solution liability insurance. Similarly, somebody may determine how the preferred method is to live a healthy and lowrisk life kind and to save a higher proportion of modern income, instead of purchasing highcost life insurance.

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Mission, Vision and Corporate Strategy of American Express

The company did not charge interest on outstanding balances, but did have a high annual fee to cardholders which outpaced the fees of traditional credit history cards. The card was also not broadly accepted; the company positioned it to become exclusive in between retailers in addition to consumers (Donaton and Levin, 1992, p. 1).

Howard Clark became chairman of American Express in 1961, having worked for your company simply because 1948. Under Clark, the company kept a low profile and concentrated its efforts in the highly successful TRS organization segment. Until 1965, American Express was operated as a joint-stock association exactly where shareholders were directly responsible for losses. The company was not immune to scandal under Clark's tenure: it suffered via a salad oil swindle involving a warehousing subsidiary in 1963, but Clark was in a position to show an operating income improve via his retirement in 1977. At that time, the company had posted operating earnings increases each year for 30 years (Teitelman, 1992, p. 38).

James Robinson III succeeded Clark in 1977 and it was under Robinson that the company went via its most tumultuous years. Robinson was a graduate in the Georgia Institute of Technology as well as the Harvard Business School. He worked at Morgan Guaranty Trust, then at an investment bank, and he joined American Express in 1968.

 

In his job with American Express in charge of the American Express Bank. Right after a couple of along with a half years, he moved to the travel unit where, 2 years later, he was promoted to president with the company. In 1977, he assumed the role of chairman. Robinson was to oversee the business via scandal and its first operating loss, and analysts consider his presence to be as important a point inside the company's performance during the 1980s and early 1990s performance as almost any other influence (Spiro and Byrne, 1992, p. 31).

Within the credit card arena, American Express faces competition from Visa, MasterCard, Discover and, of course, income and checks. During the 1980s, the company issued its personal credit score card, the Optima card, which offers cardholders the exact same rewards as credit history cards from competitors. There's an annual fee to your card, but preferred consumers pay as small as 12 percent interest on outstanding balances, compared to rates as high as 18 and 19 percent for bank credit rating cards (Woolley, 1992, p. 65). The new bank card suffered financial issues during the 1980s, however, and posted losses of more than 155 million during 1991 (Spiro and Byrne, 1992, p. 30).

Marshalls and T.J. Maxx proved a challenge to American Express, which had to fend off a move by the retailers to stop accepting the card in 1991. Both retailers entered into negotiations with American Express following both had tested not accepting the card at many of their locations. As a result of the negotiations, both retailers chose to continue accepting American Express (as well as Visa and MasterCard). Right after the incident, American Express announced a decrease inside the top rate that tiny retailers pay. To qualify, retailers must have less than 20 million cash in charges annually, and transmit their charges electronically. In return, their rate dropped from 4.5 percent to 3.98 percent.

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Globalization Expansion and International Trade

Econoland runs a modern-day account deficit of $100 billion inside a given year. This suggests a financial scenario in which it has that significantly in savings that are becoming invested abroad, likely as it imports more items than it exports which would mean that it also includes a concomitant trade deficit. Econoland's international investment position puts it in a risky location exactly where it is dependent on foreign dollars to keep growing economically. If a thing happened to lead to its foreign investments to fail, Econoland could face financial collapse. Within the meantime, the account deficit is possibly to continue rising, causing an even more inflationary case exactly where Econoland's diminishing savings are compensated for with increasing finance from abroad.

To stave off the bursting with the economic bubble, Econoland could try to save more at home and invest abroad less, but it may perhaps discover that tough to complete without compromising its interest rate gains. It may take into account higher-risk investments, but that could possibly be each as harmful as the big account deficit. Econoland may perhaps in the end find that it has no other selection than to start preparing to your inevitable bursting on the bubble and planning how to recoup its losses as soon as that occurs. Most on the world's international trade takes place between similar designed economies as a result of "increasing returns to scale technology of production" ("Analysis of International Trade in the Presence of Increasing Creative destruction occurs once one thing new comes along and destroys its older paradigm. This really is virtually usually mainly because the new issue is much better more efficient, additional fun to use, tastier, or otherwise superior than the old thing.

For example, as soon as the personal computer came along, the adding machine and the typewriter fell into disuse. Both the adding machine and the typewriter had been manual instead of electronic machines. In case you typed a article over a typewriter and observed you had left out a paragraph, you had to retype the page; should you produced a mistake, you had to white it out with gloppy liquid or, again, retype the page. On a computer, you can simply add the missing paragraph or appropriate the mistake over a article which has been retained inside computer's memory and reprint it. One more instance of creative destruction would be the replacement on the fountain pen by the ball issue pen. Fountain pens had to maintain being refilled all the time.

The older models required the user to suck the ink into the pen through a tube under the nib, or a somewhat much better adaptation to replace an ink-filled cartridge within the barrel. Both methods could result in ink-stained fingers, even though the cartridges have been an improvement. Furthermore, the ink sometimes failed to flow smoothly or came out all at once in a blob on the page. Ball issue pens can go significantly longer just before needing their ink replaced, after which it can be done by merely popping in a new refill that's guaranteed not to leak; they also have a much smoother ink flow.

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Different Types of Resorts

Resort guests typically want over just a restful vacation (Ryan and Scheier). They wanted to become entertained, and to have lots of activities available to them. This has bring about various resort innovations, just like fitness and spa programs; self-adventure programs such as hiking, rafting, and hunting; eco-tourism which offers educational environmental adventures; and learning opportunities for instance windsurfing, cooking, or wine tasting.

The Kalahari Resort and Convention Center in Wisconsin Dells, Wisconsin, for example, includes the largest indoor waterpark from the United States (Waterpark 10). It's a 378-room residence that will add within the next year 80,000 square feet of meeting space, bringing the meeting space total to 120,000 square feet. This will include 10 theaters, 16 suites, 18 breakout rooms, four boardrooms, plus a ballroom which can seat 3,000 people. All this space will likely be wired for world wide web access, audio-visual, and communications technology. The resort will also add 120 condominium units with 30 four-bedroom, 1,600 square-foot units on every floor of the four-storey complex. Owners from the condos are going to be in a position to location them in a rental pool managed by the Kalahari as additional guest rooms.

In the Philippines, a brand new idea for the resort market could be the Leisure Farms in Tagaytay (Landco). The concept is getting referred to as "agritainment" and combines amenities for instance swimming pools, a clubhouse, and camping grounds with plenty in which customers can grow their personal vegetables or flower gardens. It's the first comprehensive residential farm estate wherever "weekend" farmers can have their farms managed by weekday farmhands who supply the tools and technology. The resort also features demonstration farms showcasing several means to farming, e.g. organic farming, coffee farming, and hybrid farming.

In the ski resort industry, changes were produced to accommodate the tastes with the aging child boomer crowd. Bigger chains are buying up numerous on the modest ski resort chains, and building new hotels with more amenities, and adding snow-making equipment and new ski-lifts (Winter 70). Skiers can now ride in heated gondolas, and you will find moving walkways for beginners when they tire with the slopes. Resorts are offering a broader amount of activities just like ice skating, sledding, and dog-sledding, snowmobiling, snowboarding.

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Japanese Luxury Models into the American Market

The heavily promoted Mercedes and BMWs have not posed serious threats to American market shares. In 1990, Mercedes sold approximately 32,000 cars inside United States, and BMW sold approximately 26,000 (Leach, 1991). During that year, Cadillac sold practically 300,000 cars, and Lincoln sold approximately 235,000 (Leach, 1991). European cars, however, do dominate the high end on the luxury car industry from the United States. The Japanese luxury car entries had been initially inside the mid amount of the luxury car segment. By 1991, however, the Japanese manufacturers had also introduced models for both the low end and also the high end on the luxury car market.

The value of this find out does not lie inside assessment on the effectiveness on the efforts in the Japanese manufacturers during the very first two years of their attempts to penetrate the American luxury car market. Rather, the importance lies from the relation of these attempts to Japanese successes in penetrating other segments in the American new car market, and assessing the probability that they will obtain comparable effects within the luxury segment of the market.

Effective Japanese competition in the luxury segment from the American new car industry will erode margins in this segment, as being a consequence of significant price competition. Experience more than the past 20 years has demonstrated that American

 

For most with the twentieth century, the American automobile market was one of the most productive within the world. More than the past 20 years, however, the American marketplace has lost its comparative advantage. By 1983, Japanese automobile manufacturers, on a average, could create an automobile for $2,500 less than could American manufacturers.

The Japanese automobile manufacturers had been notion to get acquired a comparative advantage more than the American manufacturers through the widespread introduction of robot technology. The new technology helped the Japanese automobile manufacturing marketplace to be probably the most productive inside world. In response towards actions by the Japanese automobile manufacturers, the American automobile manufacturers implemented a massive method to convert their production facilities and processes to extremely automated, land from the art operations which, it was said, would put the Japanese to shame. The actions taken by the American automobile manufacturers had been intended not only to catch up from the Japanese manufacturers, but to truly restore a comparative advantage for the American automobile manufacturing industry.

The governments from the United States and Japan, and also the Japanese automobile industry eventually agreed on voluntary Japanese automobile import quotas on the United States. In economic jargon, these kinds of arrangements are called orderly marketing agreements. The voluntary import quotas were produced to last long enough for your domestic marketplace to obtain back on its feet. While it took quite some time to negotiate and implement the voluntary import quotas, it was apparent to most in each government and also the automotive marketplace in every on the countries, that voluntary quotas would be agreed upon, or the Reagan Administration would almost certainly be forced by Congress to seek, and would eventually impose, mandatory quotas.

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The Main Mission in Kava

The Modern day Situation: Andersen Consulting (AC) alleged in its complaint against Andersen Accounting (AA) that AA had breached an existing agreement not to compete with AC for consulting business. Andersen Worldwide's position is that if AC wanted to sever its ties, it would be needed to pay $10 billion to AW as was stipulated from the partnership agreement.

The disagreement was fueled by the truth that even though AC was creating substantially higher profits that AA, the ratio of AA partners to AC partners was approximately Two to 1. AC partners thought this gave AA partners too a lot control. An additional concern involved the transfer of profits from AC to AA to support smooth out earnings. This was to prevent a difficulty where AC partners would earn far more than their AA partners.

Corporate Governance: In July of 1997, the Board of Directors of AW appointed a high level committee to discover the differences of opinion in between AA and AC employees. As soon as tiny or no progress occurred during the remainder of the year, momentum for an outright split between AC and AA grew. The Board of Directors of AW was not able to determine regardless of whether AA had violated any agreement by pursuing consulting engagements with corporate clients.

The opportunity to meet an unfulfilled buyer requirements to incorporate new technologies so that you can increase operational efficiency.

The ability to find and diversify and to exploit synergies associated with Andersen's popularity like a provider of quality CPA services.

If AC chooses to secede today, it will owe AW the $10 billion described in compensation discussed inside the partnership agreement.

Andersen appreciates the must expand its traditional merchandise to include consulting services.

No matter how large the business becomes, it need to remain flexible and responsive. As Andersen grows in size and complexity, remaining responsive becomes more challenging.

I have decided that Andersen Accounting can do consulting jobs that comes as a consequence of their accounting assignments as extended as the quantity earned in these assignments doesn't exceed 10 percent of the total revenues, and provided that the profits earned in consulting assignments by AA reduce by a like variety any transfer payments created to Ac by AA. Recognizing the synergistic relationship among AA and AC, and in an effort to discourage the 2 organizations from separating unless it's definitely necessary, I have created here ruling.

 

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The Effect of Liberalization of Foreign Direct Investment

A consideration of the varieties of incentives used by numerous nations and also the degree to which they're effective, as well a why they're effective, will bring about an examination with the way incentive were used by China specifically and how highly effective China has been in this effort.

FDI is placed in numerous parts on the world in accordance with how the investor perceives the economic case in those areas and on possible incentives which nations may use to attract the attention of such investors. Billington (1999) cites a number of key factors that will influence FDI location decisions. Billington cites the role of multinational enterprises (MNEs) in this process, noting that this role has become much more essential during the emerging global economy, almost certainly due to recent changes which make multi-country markets seem far more attractive. One important issue has been the arrival of deregulated markets and also the ongoing reduction in international trade barriers, allowing MNEs to compete on much more equal terms with foreign rivals.

The 1980s was a period of economic growth and political liberalization for Taiwan as its economy was rapidly industrializing, its middle class was being a lot more prosperous and more numerous, and after 38 years, martial law was lifted in 1987. Taiwan moved as well to reduce tensions with mainland China, which was successful in your time but which has become more of a trouble recently. Taiwan has designed form an authoritarian region into a pretty democratic state (Dunung, 1995, 165-167).

Hong Kong, Singapore, South Korea, and Taiwan are known as the Four Modest Dragons and noted for their growth, though China is now named the Fifth Dragon in Asia. Much attention recently has been directed at a region in South China known as the Pearl River Delta, a nation with spectacular economic performance observed being a miracle surpassing even in scale the East Asian miracle. The average annual output growth rate in this country has been at a record high or more than 20 percent for your last decade, so that this area in particular is named the Fifth Dragon. Guangdong will be the most notable province in South China and has been a recipient of high FDI flows.

Competition exists in between jurisdictions, and this truth coupled on the well-known marketplace condition now allows in your course of action considered disturbing as provinces erect local trade barriers between jurisdictions. These kinds of protectionist practices go against the theory of pure marketplace capitalism and inhibit the capability of China to accomplish the full gains of this kind of an economy. At the same time, though, the capacity of being put at a competitive disadvantage relative to other jurisdictions prevents the imposition of harsh restrictions on corporations (Montinola, Qian, & Weingast, 1995, 58).

 

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Modernism vs. Postmodernism

Modernism was in accordance with a particular disjointed sense of time and was a deliberate departure within the conventions of realism. Modernism used various complex new forms and styles that had been to give new meaning to design, to provide aspects from the world inside a a variety of way, and to make new relationships among things from the landscape.

 

The power of modernity is apparent within the methods wherever it was employed in designing and organizing public space. As Harvey (1989) notes, modernists see space as an element to be shaped for social purposes so that it is always generating subservient to the construction of the social project (66). Harvey\'s analysis of modernism and postmodernism shows that both movements had been significantly influenced not merely by strictly artistic considerations but also by technological developments, social movements, political and economic realities, and so on. He notes, for example, that postmodern architecture has its roots in two essential technological shifts: the collapsing in the usual boundaries of time and space by current communications, generating both a new internationalism and strong internal differentiations within cities and societies in accordance with place, function, and social interest; as well as the dissolution with the must conjoin mass production with mass repetition, allowing flexible mass production with mass repetition.

 

Harvey says that postmodernists see space as one thing independent and autonomous, whilst modernists see space as being shaped for social purposes. These attitudes might be related towards the technological capability to create a massive public structure which would organize space for social purposes. Berman (1990) notes how the modernists wanted to rid themselves of old entanglements so that you can recreate the self and the world inside a new form. Berman says that being modern day \"is to experience personal and social life being a maelstrom, to discover one\'s world and oneself in perpetual disintegration and renewal, issue and anguish, ambiguity and contradiction\" (345).

 

Both modernism and postmodernism make use of new scientific discoveries and thus new attitude. The break on the past was much higher with modernism since new scientific discoveries with the time created an optimism for your future that simply took the mind off the past. Inside the postmodernist period, a lot of this optimism has been dissipated from the face of ecological threats, the failed promise of nuclear power, new social tensions in the urban environment, and also a quantity of other sources that caused individuals to rethink their concept on the future. Again, this produced them glimpse towards the past, but it was a past now filtered in the scientific progress that have been made. Postmodernism in this sense is an amalgam of scientific discovery and also the past.

 

Levin sees postmodernism as involving a radical improve in considering due to the demise in the energy of modernism. He finds that toward the end on the modernist period, the modernist movement came to be noticed as reductive and austere. Levin sees this improve to postmodernism as more wrenching and traumatic than it seems to have been: \"It wasn\'t merely the appearance of one more new movement, as during the past. It was a crucial change, which affected artists of all persuasions\" (7). However, postmodernism, like modernism, reflects the age in which it was born. Levin says that postmodernism is impure: \"It knows about shortages.

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American Company to Do Business in the Japanese Market

Since World War II, Japan and the United States have gradually developed a more normal working relationship, including a business relationship. In recent decades, this normalization has been attributable in significant part to the willingness of the Japanese to open their borders truly for the first time in their history, "to step outside of their cultural confinement and finally relate, in some way, to other people and other countries" (DeMente, 1993, p. 1). Boye Lafayette DeMente (1993) notes, "During the 1980s, almost half of the entire population of Japan traveled abroad" (p. 1). One of the results of this extensive national exposure to other cultures has been a new Japanese willingness to accept Western approaches to doing business and a new Japanese hunger for American products.

However, the Japanese market remains a separate case for American marketers. Christalynn Brannen and Tracey Wilen (1993), in their handbook showing American businesswomen some of the pitfalls of working in a male-dominated society, caution, "Extrapolating from one's own culture to another is a big mistake" (p. 12). The overwhelmingly male bureaucracy within Japanese business is one important facet important to any understanding of the culture.

Marketing in any situation is a complex and difficult art which must be flexible enough to adjust to new situations and demands. An American marketer faced with the challenge of introducing products into a dramatically different culture must take care to study the new market, learn from mistakes, and engage assistance from those who are part of the target market. Japan offers remarkable opportunities for those willing to take the time to understand this fascinating culture and the ways in which it differs from Western markets.

The United States as a whole maximizes consumption and recreation, pursues instant gratification, extols the spirit of the individual, and adheres to a belief in the glory of the free market. Japan as a whole opts to work, to save, to sublimate the self to the interests of the larger group, to plan and to sacrifice for the long run, and to adhere to an economic system based primarily on enhancing the size and power of entrenched domestic interests (p. 3).

The four primary components of a successful marketing mix, product, price, place, and promotion, are usually analyzed as distinct elements in Western marketing. Johansson and Nonaka (1996) write, "Given the lack of functional specialization in the Japanese corporation, such separation is not considered useful. A strong hierarchical relationship among the four P's makes it necessary to take the decisions in the correct order" (p. 104).

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Formalist Art Critic Clement Greenberg on Modernism

He mentioned that every medium was being self-referential, "divested of all extraneous points such as narrative and illusion, and in a position to move from abstraction to universal essence" (Stiles and Selz 2). Greenberg's process definition can be observed as an element defining Modernism as a theory in the teleology of art, showing that there is a final trigger and that it involves evidence of the design. Greenberg's view has become one widely adopted by scholars, critics, and students to characterize the avant-garde during the pre-1945 period.

Various artists express their view in the artistic method and of their artistic expression since it relates to form and content, and in so making they express similar ideas to individuals out there by Greenberg. Jackson Pollock, for instance, states on the connection in between the medium and the expression,

My opinion is that new needs need new techniques. And also the modern day artists have discovered new ways and new ways of generating their statements. It seems to me how the current painter cannot express this age, the airplane, the atom bomb, the radio, inside the old varieties of the Renaissance or of any other past culture. Every age finds its own technique (Stiles and Selz 22).

David Smith expresses the thought that art follows no rules and indeed makes its individual rules since it goes, thus creating and commenting on its form at 1 and the same time in a lot the manner cited by Greenberg:

On the one hand, Estes is praised like a rare genius and a singular artist, but on the other hand, Estes himself proclaims that he is allied with all realist painters.

Art is a paradox that has no laws to bind it. Laws can often be violated. That confuses the pragmatic mind. There might exist conventionalized terminologies and well-liked designations for periods, but no rules bind, either towards material substances from which it [art] is created or the mental procedure of its thought . . . As soon as art exists, it becomes tradition. After it's created, it represents a unity that did not exist before (Stiles and Selz 37).

If you desire to know all about Any Warhol, just take into account the surface: of my paintings and films and me; and there I am. There is nothing behind it (Stiles and Selz 340).

Pop Art as in the works of Andy Warhol was a counter to the European dedication towards struggling artist as accepted by the abstract expressionists. His originality was in his denial of originality. Warhol's imagery was derived from well-liked material such as advertising, television, films, and so on. He employed a commercial art variety to painting, and he appropriated subject matter within the pulp media. Warhol created a kind out of his own non-involvement in the material, and he attempted to produce works that were machine-like and so that were separated inside artist. At the same time, Warhol stood himself as an artist embodying a certain image of the artist. He was his own artwork and was dedicated to fame and wealth as much as to art. He presented himself in easy terms, but in a way this presentation itself was complex and conflicted. He wrote at 1 point,

Warhol actively sought to offer only the surface, emulating popular art in this regard and complicated the abstract expressionist's interplay on the artwork and the viewer of the artwork.

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The Legend of Leonard Bernstein

While even now at Harvard Bernstein met Mitropoulos who invited the young man to sit in on his rehearsals on the Boston Symphony Orchestra. The 2 formed a friendship and when, right after his graduation, Bernstein was uncertain what career to undertake, it was Mitropoulos who advised that he turn out to be a conductor. On Mitropoulos' additional recommendation Bernstein was accepted into the Curtis Institute at Philadelphia where he was to discover conducting under Fritz Reiner to your next two years. Bernstein also spent the summers of 1940 and 1941 at the Berkshires Music Festival at Tanglewood studying under Koussevitzky who had accepted him at the warm recommendation of Mitropoulos and Reiner. In 1942 Bernstein returned towards center to serve as Koussevitzky's assistant. But as soon as the summer was over Bernstein was without a job. Mitropoulos had obtainable him an assistant's write-up at Minneapolis two many years earlier but the proposal had fallen through. Koussevitzky now available him a position at Boston. But the Boston Symphony was a non-union, in fact, an anti-union shop and Bernstein felt he could not participate in its activities. He was at a loss, doing jazz transcriptions for a music publisher, once Rodzinski, who had just decided to take in on an assistant conductor at the New York Philharmonic, asked to determine Bernstein.

Fritz Reiner's career started out in Budapest as conductor on the Volksoper (1914-1921). From 1922 to 1931 Reiner was music director on the Cincinnati Symphony. This write-up was followed by a five-years tenure as instructor in conducting at the Curtis Institute. After leaving the Institute Reiner's task continued an unbroken upward trajectory as he conducted at the Metropolitan Opera for 5 many years after which reached the height of his accomplishment at Chicago. In nine years Reiner transformed the Chicago Symphony into an business able of "impeccably fine performances in each Classical and current music." But the kind of conducting that created Reiner a excellent accomplishment was not what he communicated to Bernstein. Bernstein said that Reiner was basically "an intellectual conductor" as well as the expressiveness that Bernstein favored was not there in Reiner's approach. Reiner was incredibly interested inside use from the baton, employing a quite large stick, and he applied it in a very understated manner. His beats, as Bernstein said, "were almost microscopic." But these modest beats had very good economy and power. Reiner, for example, did not often employ up-beats to start pieces, instead he relied on orchestras "to occur [in] with his down-beat." Bernstein provided the illustration of Strauss' Don Juan in which most conductors require a clear up-beat to start ahead of the down beat, after which the orchestra enters. Reiner, he noted, by no means provided the up-beat. Instead "the stick would just drop, tick, and also the orchestra would be there." As he stood at the podium Reiner's physical restraint forced the orchestra's attention to his that eyes peered at them "like arrows . . . nailing them, magnetizing them, so that this smaller movement in the stick" could achieve so much.

In his summers at Tanglewood Bernstein had gone so far as to adopt Koussevitzky's kind of dressing and walking as he absorbed the maestro's type of conducting. But it was Koussevitzky as an artist, with his rare

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Purpose of Wearing Epa Headdress in the Yoruba Epa Festival

The three-dimensional model is richly varied. Whilst the headdress is according to the globe of reality, it is not representational. It's unimportant for the figures to seem like specific individuals. As soon as a headdress is worn, the wearer's face may be disguised by cloth. The functionality of the Epa headdress is to supply a temporary residence for a spirit, and for your wearer to try and do a ritual act for ones benefit of his community. The Epa festival celebrates the chiefs, farmers, warrior, hunters, priests and women. Since Yoruba society is patrilineal, the role of women is depicted in Yoruba mythology with respect to fertility. Women play "a much more formidable role in Yoruba rituals than they do in political life of conventional society" (Delano 17).

Because with the active role of women in Yoruba rituals, the female is of crucial symbolic value in representational art. The role women play within the masking rituals consist of washing off the previous year's paint and dust that accumulated over a headdress. They then decorate the headdress with various patterns. Women also participate as guides to the masquerades. Women, of course, figure prominently in fertility motifs, as well as the Epa headdress prominently features a woman carrying a child. The Yoruba pay homage to women as it is they who give birth to men. "According towards Yoruba, the woman holds within her womb 'powers concealed'


African Art: Aesthetics and Meaning. On-line at:

www.lib.virginia.edu/clemons/RMC/exhib/93.ray.aa

A description with the art object under consideration will illustrates how it communicates the aesthetics in the Yoruba culture. The Epa mask is often a carved headdress divided into 2 parts. The dancer's head fits under the lower part, allowing the man to see from your mouth of an abstracted face; the upper part is carved a lot more realistically. During the festival, that's held every other year, the masked dancers leap onto a large, three feet high flat-topped mound. As soon as the male dancer appears at the festival, surrounded by his followers and wearing the tall, heavy headdress (the Epa headdress is between the largest of all headdresses and masks), he receives salutations, praise names and songs. The lower, abstract helmet portion hides the dancer's face, allowing him to determine from the mouth. This really is in keeping with the aesthetic significance on the art that stresses human relationships and physical exercise in general, instead of the individual.

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Essay writer

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The essay writer is any person who has the necessary knowledge, skills and also experience in the essay writing field. Because of the usefulness of the writing services mostly in the educational sector, stakeholders in this sector have included it in their core activities. The writing services should aim to enlighten the recipient in the type of writing they may be engaged in not only essay writing.

The essay writer should always focus to write essays that attract their current and prospective clients since it is through them that he/she earns income. Through writing such essays the essay writer will build on their reputation hence excelling in his/her career. Most of the writings that have been previously done have greatly contributed to enhancement of knowledge through adding value to the sources of the knowledge. Through this they have been able to build a comprehensive body of knowledge.

Research paper example

The introduction of the modern writing styles such as Harvard has revolutionized the writing of research paper example. Students could just do research paper example in accordance with their wishes and impulses.

They would adopt paper formatting, page margin and quotation styles of their own choice while doing the research paper example - an implication that less significance was attached to the research paper example. This is the trend no longer in the research paper example, things have taken a different twist and new rules have come up to lay down guidelines that must be followed in the process of performing research paper example.

These standardized rules are very instrumental in the research paper example. They not only offer step wise guideline on how I can write my paper well but it also indoctrinate the much required writing skills in learners. It is admissible that I write my paper so easily today compared to ten years ago-courtesy of research paper example. The main cause why I write my paper pretty well is the existence of the standardized writing styles.

These rules guide me from step to step on how I can write my paper without making any common mistakes like other students do. It is therefore a gospel truth that I write my paper because of these formulated rules and writing guidelines. Instead of fumble here and there not knowing what to do, I can now write my essay with much accuracy and precision. I have made it a hobby to write my paper by not allowing any third party such as commercial essay writers to write my paper.