Research Paper Sections

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Recession Cause Changes In The Auditing Profession Finance Essay - Free Essay Example

The financial meltdown of 2007 was a calamity to the world economy. The meltdown initiated a period of severe instability to the global financial system which resulted in the failure of several financials giants and billions of dollars from stimulus packages issued by governments around the world. However, the collapse of the housing market was the epicenter of the financial meltdown. It created a domino effect which in turn shook the economic stability of the United States severely affecting financial markets, banks, corporations, small businesses, and ultimately consumers. Causes of the current financial recession: The financial collapse in 2007 was triggered due to the collapse of the housing market. The housing bubble in the United States started in the mid 90s. (Baker, 2008) In the years prior to the collapse, low interest rates were pushed by the Fed in an effort to increase homeownership in the United States. This led to a rapid and continuous increase in the demand as well as the prices of residential properties. Given the circumstances, Wall Street investment banks grouped the loans and offered them as mortgage backed securities to investors. Mortgage backed securities represented the right to the debt obligation on residential properties. Under the conditions at the time, it was blindly assumed that real estate values would continuously rise and when such is the case, where the value of an asset is assumed to be constantly increasing, the concept of risk associated with that asset diminishes. Therefore, lenders increased their issuance of loans to the general public. Subprime and adju stable rate mortgages, arms, were loans given to less than qualified buyers and their riskiness was almost always ignored. The extension of credit through subprime and adjustable rate mortgages resulted in millions of defaults around the country. The adverse affects of this process were made widely apparent when mortgage backed securities began to collapse as a result of widespread mortgage defaults. As the demand in the housing market was increasing rapidly, construction companies saw the need to accommodate prospective homeowners. This led to a home building frenzy which eventually led to a highly saturated market. Furthermore, when housing sales began diminishing, a large number of newly built homes were left empty and even more were left in progress as construction halted due to unprofitability. It is widely believed by many people that the main causes of this crisis were greed and market failure. However, the governments lack of appropriate policy making also contributed significantly to this crisis. Homes are often the most valuable asset of a family. Thus, it had always been an objective of the government to increase home ownership in the United States. Therefore, in an effort to support people, who otherwise were not worthy candidates for homeownership, the government pushed to lower lending standards. To keep recession away, the Federal Reserve lowered the Federal funds rate 11 times -ÂÂ  from 6.5% in May 2000 to 1.75% in December 2001 -ÂÂ  creating a flood of liquidity in the economy. (Manoj, Oct 2010) Down the road, these policies eventually led to the issuance of subprime and arm loans. Furthermore, later, as the demand for houses decreased, investors were the first to pull out causing another shock to the already stagnant market. (Christie, April 2007) Did the auditing profession contribute to the financial meltdown? The purpose of auditing is to provide investors as well as other users of financial statements with complete and accurate financial information. This objective is achieved through analyzing and assessing a corporations financial information and issuing a statement based upon the gathered evidence. In achieving this object, it is essential to thoroughly examine a corporations major sources of revenue and their reliability. Furthermore, it is quintessential to determine whether or not a corporations business practices are ethical and lawful. Failure to follow these procedures can also be looked upon as a failure on the part of auditors to perform their job correctly. Therefore, taking into account the purpose of auditing, it is not farfetched to say that the auditing profession did indeed contribute to the financial meltdown, because of its failure to detect the highly risky business practices of many banks and corporations as well as failing to catch the material misstatements on th eir financial statements. Furthermore, during the financial crisis, auditors were placed under a lot of scrutiny by people for failing to perform their jobs correctly. For example, an audit of a mortgage company should have began with looking at their products and services, speaking to brokers and underwriters in detail, checking the creditworthiness of borrowers, examining all related paperwork, and assessing the risk of recovering the loans. An in depth analysis of the business process of such companies should have alerted auditors about the red flags of a possible failure. In many instances, lenders were practicing predatory lending, in which consumers were mislead into signing contracts of which they knew not the details of. In consistency with the objectives of auditing, it was the responsibility of auditors to discover and report such unethical acts in their reports. However, hundreds of firms continued to practice this method of lending so that they may sell the loans t o banks on Wall Street. The lack of specialized auditors for the financial industry was also another reason for the failure to detect the misstatements on financial reports. Due to the fact that many banks were performing operations with risky and highly complex financial tools such as derivatives, it was difficult for auditors to detect fraud and report accurately on these operations. Fannie Mae paid Deloitte $49.3 million in fees in 2007. The firm was hired by Fannie Mae in 2005 because its predecessor KPMG missed accounting errors that cost the housing finance company $9 billion in previously reported profit. (Berr, Sept 2008) The necessity for diligent auditors to perform their work with greater accuracy was evident in the years before the financial collapse. Shareholders lost large percentages of their investments and suffered greatly; it could have been possible for these shareholders investment to be safer if auditors would have been able to spot red flags related to the c ollapse. Will the recession cause changes in the auditing profession? The failure of several major banks, insurance companies, and mortgage companies, among others during this recession has left a lasting impression on the auditing profession. Due to the failure of many auditors to detect fraud and material misstatements on the financial statements of many firms, it is more than likely that the auditing profession will have to undergo more stringent policies and procedures. There is no doubt that stricter policies must be implemented to prevent any future financial crises. Enforcing auditors to focus more on governance as part of their audit would improve the audits effectiveness because it would allow auditors to gain insight on the activities of the board of directors as well as any relevant committees. Furthermore, this will also give insight on the different employee positions and what their rights and responsibilities are. By focusing on governance, auditors will also get a better understanding of the firms environment and be able to determin e the nature of the controls as well as that of the personnel. In addition, implementation of stringent guidelines for internal auditors would significantly reduce the risk of fraud and material misstatements. It would allow for a more ethical business environment because internal auditors would be present throughout the fiscal year and would be able to provide the board of directors with thorough assessments. An important change required in the auditing profession is to make the guidelines on when to use and not to use auditing specialists. In recent years, during the peak of the financial crisis, many auditors failed to detect risks associated with complex financial instruments used by corporations. Requiring the use of competent and diligent audit specialist will ensure the quality of the audit performed. On the other side of the spectrum, however, one can also argue that the blame for the financial crisis solely lies upon auditors. Auditors jobs are not to predict the f uture but instead their job is to make sure that corporations have provided reliable information on their financial statements. (ACCA, Oct 2010) Conclusion The financial crisis of 2007 was one of the worst economic disasters since the Great Depression. In the turmoil, hundreds of banks defaulted; financial giants, such as: Merryl Lynch, Lehman Brothers, and Bear Stearns went bankrupt or were bought out. The housing and mortgage crisis played out to be the originator of the domino affect which resulted in severe calamity across the financial world. Even with billions of dollars worth of government funding, many toxic assets were still left untouched and on the books of lenders. The auditing profession contributed to the financial crisis through a lack of following the proper procedures and failing to detect the risks that were present in these firms. It is up to the auditor to issue an opinion on the financial statements of firms and one could argue that the auditors failed to give an appropriate opinion. More stringent rules and regulations will help auditors be able to perform their jobs with greater competence. In the aftermath of t he financial crisis, the global economy has still not fully recovered. Furthermore, many economists believe that a double dip recession could be headed our way. Enforcing stricter auditing policies would definitely help mitigate possible threats to our financial stability and to our economy.

Killer Angels Essay - 1856 Words

History 1301 1. Were soldiers religious? What did they think about God? What sorts of religious viewpoints do we see in this book? 2. Why did soldiers fight? Did the motivations of men on the two sides differ? What enabled men to fight in the face of death? 3. What thesis does the author argue as to why the Confederacy was defeated at Gettysburg? What evidence does he present to make his point? Do you agree or disagree with him? Trevor Jenke Professor Lockwood History 1301: M-W 12:30 2 December, 2013 Killer Angels Book Review 1. During the Civil War, there were two sides, the Confederate Army and the Union Army. While the Confederates fought for slavery, the Union fought for their freedom. While the†¦show more content†¦They believed that slavery could not co-exist in a country that was founded on the ideology of freedom. However, they eventually found themselves fighting to help free the slaves rather than fighting for each other. The Confederate Army was fighting to maintain its grip on slavery as it was ever so important to their economy and way of life. They depended on it so greatly that they would be willing to risk their lives on order to hold on to it. Col. Chamberlain talks about his view on the war, and what it meant to him as he was trying to convince the imprisoned troops from the 2nd Maine Division to fight with him. He believed that this war was far different than any other war ever waged in the history of mankind. He believed that what we were fighting for was the value of man, t hat they were fighting for each other. â€Å"This is free ground. All the way from here to the Pacific Ocean . . . . Here we judge you by what you do, not by what your father was . . . . .What we’re all fighting for, in the end, is each other.† (Pg. 32 / 33 - Killer Angels, Michael Shaara) However, there were still men in the Union who were fighting for themselves rather than the idea of a free nation. In personal discussion, Kilrain says that the reason he, personally, is fighting is to prove Im a better man than many (Pg. 188). He says, Its the aristocracy Im after (Pg. 189). He wants to be treated fairly, as he deserves, no matter what his father deserved.Show MoreRelatedEssay On Killer Angels1776 Words   |  8 PagesKiller Angels is a 1974 historical novel by Michael Shaara. The book tells the story of the Battle of Gettysburg in the American Civil War. The novel is told through the voices of both Union army and Confederate Army of Northern Virginia leaders who were in battle there. The novel is laid out in days and each new chapter for the day gives a number and the name of the man who is the focus of the chapter. In Killer Angels, the Army of Northern Virginia’s demise is highlighted by a few different featuresRead More Killer Angels Essay2541 Words   |  11 Pages The Killer Angels The Battle of Gettysburg brought the dueling North and South together to the small town of Gettysburg and on the threshold of splitting the Union. Gettysburg was as close as the United States got to Armageddon and The Killer Angels gives the full day-to-day account of the battle that shaped America’s future. Michael Shaara tells the story of the Battle of Gettysburg through the eyes of the generals and men involved in the action of the battle. The historical account of the BattleRead MoreKiller Angels Essay714 Words   |  3 PagesKiller Angels The pain, joy, bloodshed, death, and sorrow of the Civil War are all contained in the book called, The Killer Angels. This book will show you the thoughts, feelings and actions of many of the leaders of both armies. By reading this book you will get an in depth view of the bloodiest days of the Civil War. Even if you know absolutely nothing about this war, you can still read and understand everything that is portrayed. This story not only gives you the view of many of theRead MoreThe Killer Angels By Michael Shaara1634 Words   |  7 PagesAuthor Background Pulitzer Prize-winning author Michael Shaara, the author of The Killer Angels, was born on June 23, 1928 in Jersey City, New Jersey. He was an author of science fiction, sports fiction, and historical fiction. Although writing was his passion, Shaara was very athletically successful in high school, winning more awards than any other student in the history of the school for sports such as basketball, track and baseball. He acquired a skill in boxing, and of the 18 matches ShaaraRead MoreThe Killer Angels By Abraham Lincoln1046 Words   |  5 Pagesagainst itself cannot stand.† Lincoln believes that there is no such thing as a balance between free and slave states and that the two contradictory governments are bound to fall. That describes the conflict that occurs in the fictional novel, The Killer Angels, a civil war story between the Union and Confederate states fighting to achieve the government they yearn for. The setting takes place in the midst of the Battle of Gettysburg as the two sides prepare for the fight. The Confederate officers include:Read MoreThe Killer Angels Book Review1641 Words   |  7 PagesKatie Cline The Killer Angels Book Review June 21, 2012 The Killer Angels by Michael Shaara: The Random House Publishing Group, New York, 1974. The Killer Angels is a stunning recollection of the telltale battle of the Civil War: the Battle of Gettysburg. Set from June 29 to July 3, 1863 and told from the vantage points of several soldiers and commanding officers from both sides, including Lee, Longstreet, and Chamberlain, Michael Shaara effectively paints a picture of the war that divided AmericaRead MoreThe Killer Angels By Michael Shaara1206 Words   |  5 PagesShawn Gacy American Lit. Mrs. Moyer September 11, 2015 Summer Reading The book I chose to read over the summer was the book The Killer Angels, by Michael Shaara. The Killer Angels tells the story of the Battle of Gettysburg. On July 1, 1863, the Confederate army, and the Union army, fought the largest battle of the American Civil War. When the battle ended, fifty one thousand men were KIA (Killed In Action), wounded, or MIA (Missing in Action). All the characters in this book are basedRead MoreThe Killer Angels By Michael Shaara1061 Words   |  5 PagesThe Killer Angels is a novel written by Michael Shaara which tells the story of the four day battle of Gettysburg from June 30 and ended July 3, 1863.There were two armies in the novel the Union and the Confederate soliders who eneded up fighting in a town called Gettysburg located in Pennsylvania. In the novel, there are four major characters who were all Generals, General Lee, General Longstreet, General Pickett, and Colonel Chamberlain.The main cause of the war was the confederate wanting to splitRead MoreThe Killer Angels By Michael Shaara1117 Words   |  5 Pages Michael Shaara’s 1974 historical novel, The Killer Angels, covers the story of the four days of the Battle of Gettysburg that also features maps for visualization. The format of the story is well organized. It begins with a Foreword, which describes in great detail the armies and soldiers involved in the battle. It follows up with four sections and within each section there are chapters that are written in chronological order, covering the events between Monday, June 29, 1863 and Friday, July 3Read MoreThe Killer Angels By Michael Shaara1947 Words   |  8 Pagesthe dueling North and South together to the small town of Gettysburg and on the threshold of splitting the Union. Gettysburg was as close as the United States got to Armageddon and The Killer Angels gives this full day-to-day account of the battle that shaped America’s future. Michael Shaara author of â€Å"The Killer Angels,† tells the story of the Battle of Gettysburg through the eyes of generals Robe rt E. Lee, Joshua Chamberlain, James Longstreet, and John Buford, and the other men involved in the action

Health City Cayman Islands Essay - 739 Words

Session #3: Health City Cayman Islands MATERIALS 1. Health City Cayman Islands (9†714†510) 2. Narayana Hrudayalaya Heart Hospital Video 3. Expansion at Narayana Hrudayalaya Video DESCRIPTION Narayana emerged initially as the world’s largest focused†factory, lowest†cost, and high quality cardiac care facility, initiated in Bangalore. It then subsequently morphed into a large Health City, and then spread geographically across India, and via diagnosis†by†telemedicine all over the world. Now, it has opened a state†of†the†art facility in the Cayman Islands, to serve the Caribbean, and within striking distance of large numbers of US under†insured, but just outside US regulatory waters. ASSIGNMENT QUESTIONS 1. The Coronary Graft Bypass Graft†¦show more content†¦The case gives an overview of NH operations in Bangalore, India. Why is the original NH model relevant and successful in India? The NH Model is relevant and successful in India because it meets a number of important criteria. It uses inexpensive premises (minimalistic) but maintains high standards of outcomes. It specializes in high volume low cost procedures and as the model matures greater efficiencies are drawn from the learning. Medical Efficiencies are comparable to the west using the best equipment. People are employed at better rates then others hospitals in India however they tend to work longer hours and can do multiple tasks. Junior staff performs routine task and those under training resulting is better quality of care. People are poor and not all can afford the fees for care or have insurance. The model can be replicated in other cities. Insurance claims for negligence are very limited India Governmental hospitals have a poor reputation for quality of care and post operation infections. 3. HCCI expects patients from the Caribbean Islands, the US and South America. To what extent, if at all, should HCCI consider adapting the NH model developed in India? How does the adaptation decision relate to the CABG pricing and the targetShow MoreRelatedThe Cost Of Healthcare : An Unsettling Factor For Much Of The World1883 Words   |  8 Pagesinteresting to view; how a drive to create a sustainable system with one goal of saving human lives at the lowest cost possible has been able to thrive in India and now the Cayman Islands. Summary The Have a Heart video, explained the creating of Narayana Healthcare system from India to the Cayman Islands. India has no public health system. Main points brought up within the first few minutes of the video were that eighty percent of the world can not afford heart surgery (From the Heart, 2015). PatientsRead MoreThe Ford Motor Company : A Long Term Rating1032 Words   |  5 Pagesmaking this trade it will require my managers approval. Duration is always shorter than the time to maturity. JPMorgan Chase Co. is the largest bank in the United States and the world’s third largest public company. It is headquartered in New York City, New York. JPMorgan Chase Co. was given a credit outlook of stable by Moody’s as well as a long-term rating of A3 and a short-term rating of P-2. Both of the credit ratings fall into the upper medium investment grade. The duration and also matchesRead MoreLehman Brothers : The Third Largest Global Investment Bank Essay1694 Words   |  7 PagesLehman Brothers, based in New York City, was the fourth largest global investment bank until 2008. They provided financial investment services, banking, and management around the globe. Prior to its defunct, its management consisted of: Chief Executive Officer, Richard (Dick) S. Fuld; Chief Financial Officer, Erin Callan; with accounting auditor, Ernst Young. The collapse of this 158 year old firm sent the US economic market into turmoil. Their demise left 25,000 people unemployed and millionsRead MoreCub Domino s Pizza Essay1983 Words   |  8 Pagescountry, they are; â€Å"Located 90 miles off the coast of Key West, Florida, Cuba is the largest Caribbean island nation. Its neighbors are the Cayman Islands, Jamaica and Haiti. Cuba spans 44,200 miles, making it a bit smaller than the state of Pennsylvania. Its varied geography includes rolling farmland, rugged mountains, urban metropolises, quaint Colonial villages and white-sand beaches. The island is divided into 15 provinces and one special municipality, Isla de la Juventud. Notable Cuba areas includeRead MoreThe Modern Port Of Miami Essay1831 Words   |  8 Pagesfour-month trial and on December 18, 1966, she arrived in Miami. There was a lot of excitement along the waterfront as the new ship came alongside, only briefly dampened by the hour it took the dockworkers to find a gangplank at the still incomplete Dodge Island terminal. The following day, December 19th, the Sunward commenced her first cruise to Nassau in the Bahamas. â€Å"It was a good match,† recalls Heller. â€Å"Knut was the idealist young guy and Ted was the sharp, shrewd businessman. Together they hadRead MoreEvolution Of The Cruise Industry Essay2010 Words   |  9 Pageslength with accommodations for 560 cruise passengers. The Starward arrived in Miami on December 14, 1968, just two years after the Sunward, and introduced year-round 7-day cruises to three ports on the island of Jamaica. The Miami cruise market was starting to grow. The cruise terminals on Dodge Island were finally ready to open and at the same time as the Starward Commodore Cruise Lines introduced the mv Boheme, Bahama Cruise Lines launched the mv Freeport and Costa Line added the ts Flavia. RespondingRead MoreHard Rock Cafe Case Study5950 Words   |  24 PagesRocks products, many kinds of designs make it gain more local and traveling customers. Hard Rock utilizes healthiest raw materials in each area to carry on meticulous processing. This sufficient considers about quality of the food and the customers health. In addition, the raw materials come from local area, this can reduce transported cost of the materials and the loss in transportation way. The reducing of the cost impels the products price to be more appropriate, this meets customers demands furtherRead MoreHard Rock Cafe Case Study5960 Words   |  24 PagesRocks products, many kinds of designs make it gain more local and traveling cu stomers. Hard Rock utilizes healthiest raw materials in each area to carry on meticulous processing. This sufficient considers about quality of the food and the customers health. In addition, the raw materials come from local area, this can reduce transported cost of the materials and the loss in transportation way. The reducing of the cost impels the products price to be more appropriate, this meets customers demands furtherRead MoreChina Economy7357 Words   |  30 Pagesgenerally allowed to operate and compete on free market principles, rather than under the direction and guidance of state planning. In addition, citizens were encouraged to start their own businesses. Additional coastal regions and cities were designated as open cities and development zones, which allowed them to experiment with free market reforms and to offer tax and trade incentives to attract foreign investment. In addition, state price controls on a wide range of products were gradually eliminatedRead MoreUnited Arab of Emirates Country Notebook18844 Words   |  76 PagesBahrain, Qatar, Iran. The UAE covers 32,278 square miles (83,600 square kilometers). The Seven Emirates vary greatly in size. Abu Dhabi represents 85% of the land, and the smallest Emirate is Ajman. Each Emirate is named after its capital city, and Abu Dhabi city is the permanent capital of the nation. B- Climate The UAE generally has a dry climate with very high temperature and humidity in the summer. The hottest months are July and August when average maximum temperatures reach above 40  Ã‚ °C on

SWOT Essay free essay sample

A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as (S)trengths or (W)eaknesses and those external to the firm can be classified as (O)ppurtunity or (T)hreats. Such an analysis of the strategic environment is referred to as a SWOT analysis. A firm’s strengths are its resources and capabilities that can be used as a basis for developing competitive advantage. For example, Maxis Berhad has high network quality customer service . Besides that, it is also the largest subscriber base in Malaysia with c.39% share. . Weaknesses are characteristics that place the team at a disadvantage relative to others. One of Maxis Berhad biggest weakness are that rural area cannot reach the network the price rate is higher than competitors. Oppurtunities are elements that the project could exploit to its advantage. We will write a custom essay sample on SWOT Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The most recent opputunity for Maxis Berhad is the new lauch for the new iPhone 5S and iPhone5C. Due to the launch, many individuals would prefer to buy the phone at a network service provider as it would include a postpaid plan. Lastly, threats are elements in the environment that could cause trouble for the business or project . Other service providers launch of the iPhone could put further pressure on Maxis. Adjustments to the interconnect rates may pressure Maxis earnings, as the company is a net receiver off calls. A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as (S)trengths or (W)eaknesses and those external to the firm can be classified as (O)ppurtunity or (T)hreats. Such an analysis of the strategic environment is referred to as a SWOT analysis. A firm’s strengths are its resources and capabilities that can be used as a basis for developing competitive advantage. For example, Maxis Berhad has high network quality customer service . Besides that, it is also the largest subscriber base in Malaysia with c.39% share. . Weaknesses are characteristics that place the team at a disadvantage relative to others. One of Maxis Berhad biggest weakness are that rural area cannot reach the network the price rate is higher than competitors. Oppurtunities are elements that the project could exploit to its advantage. The most recent opputunity for Maxis Berhad is the new lauch for the new iPhone 5S and iPhone5C. Due to the launch, many individuals would prefer to buy the phone at a network service provider as it would include a postpaid plan. Lastly, threats are elements in the environment that could cause trouble for the business or project . Other service providers launch of the iPhone could put further pressure on Maxis. Adjustments to the interconnect rates may pressure Maxis earnings, as the company is a net receiver off calls.

The Museum of Contemporary Art

About Exhibitions of Contemporary Art Each exhibition at MOCA is a unique opportunity for people to enjoy the beauty of the world they live in and to see how the professionals recognize the main aspects of the modern world. The exhibition under consideration is â€Å"From the Recent Past: New Acquisitions† with 50 artworks which disclose the world of photography, painting, sculpture, and video to the visitors.Advertising We will write a custom report sample on The Museum of Contemporary Art specifically for you for only $16.05 $11/page Learn More The works by Frydlender, Furnas, and Janes are introduced to the public by the senior curator Alma Ruiz (â€Å"From the Recent Past: New Acquisitions†). In general, the works offered have been created between 2003 and 2010, this is why it is possible to observe some new approaches at presenting artworks as well as evaluate the possibilities which were available at the beginning of the 2000s. People from different countries are eager to donate this exhibition in a variety of ways: photos made by Guo Yilin are given by Rosette V. Delug and works by David Thorpe are introduced by the Drawings Committee. Of course, this list is far from being full, still, these works are one of the most successful examples of how past and present may be united. The world of art is rich indeed, and From the Recent Past: New Acquisitions is a good opportunity to learn more about the methods of how art is made by and for people. In fact, this exhibition is available to people from March to July, this is why those who have already got a chance to enjoy the beauty of photography or video peculiarities should encourage other people who want to know more and be closer to the ideas and works offered by the professionals from different countries and with different working approaches. Los Angeles County Museum of Art (LACMA) Vija Celmins: Television and Disaster 1964-1966 is the exhibition that is availabl e to all visitors of LACMA. There are a number of periods during which people demonstrate their best qualities and the impact of cultural background of their vision of art. At this exhibition, it is possible to observe the works created by Clemins in the middle of the 1960s. This amazing painter came to the United States from Latvia and showed her unique possibility to focus on one moment that could change the whole life. For example, her â€Å"Hand Holding a firing Gun† may cause a number of emotions: fear concerning inabilities to predict personal end, energy that comes from the firing gun or excitement that is observed as soon as the bullet reaches the target.Advertising Looking for report on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is necessary to admit that the 1960 in many countries were characterized by violent treatment to people as well as to a variety of things. This is why it is not a surprise to fi nd Clemins’ works devoted to violence, deaths, conflicts, and other examples of disorders. In comparison to other exhibitions offered at the Museum, Vija Celmins: Television and Disaster 1964-1966 makes each visitor feel the taste of the 1960s and become a part of the history that was created long time ago. Technical background used by the painter seems to be a justified decision to prove how dry, scared, and, at the same time, passionate period is disclosed in Celmins’ works. The exhibition may be found at the second level of the Ahmanson Building. It is open from March 2011 to June 2011 (â€Å"Vija Celmins: Television and Disaster 1964-1966†), so, many people still get a chance to enjoy the beauty offered by Vija Clemins. Los Angeles Contemporary Exhibition (LACE) Not many people are ready and able to organize an exhibition that could attract the attention of many visitors. However, the curator Cody Trepte is good at art exhibitions, this is why almost each hi s work becomes a unique chance for people interested in art to enlarge their level of knowledge. What Trepte chooses is the attention to Conceptualism in art with the help of which ideas are prioritized in comparison to forms. At this exhibition, it is possible to find the works of four artists who contributed the sphere of Conceptual Art in the 1980s. They are Larry Johnson, Mitchell Syrop, Meg Cranston, and Sarah Seager (â€Å"On the Line†). These people demonstrate the power of language in their artworks: it is not enough to present an idea, but it is more important to prove that form does not matter when the idea is considered. Text-in-art forms are preferable for this exhibition, this is why it is not only interesting to observe the achievements in the chosen sphere but also make use the words and slogans offered. One of the most memorable works is introduced by Syrop and called â€Å"Why Does It Take a Lifetime†. The visitors are free to come to the Museum and sh are their opinions about conceptual works between March, 3 and April, 17.Advertising We will write a custom report sample on The Museum of Contemporary Art specifically for you for only $16.05 $11/page Learn More If people want to reevaluate their lives or discover some new approaches at understanding the essence of life, they are welcome to the exhibition On the Line and think about their dignity and worth relying on the ideas offered by three amazing artists. Sometimes, it seems to be so difficult to write about art and define the positive aspects of a particular exhibition. This is why if a person has a chance to look at works and feel the atmosphere of Conceptual Art, it is better to choose LACE. Brooke Hodge and Her Works The work of each artist is another powerful attempt to demonstrate how unique and unpredictable the vision of the world can be. The main theme supported in the works by Brooke Hodge is the idea of connection between contemporary f ashion and architectural trend. At MOCA, she was the curator of Skin + Bones: Parallel Practices in Fashion and Architecture where she made a considerable contribution to the world of art as well as architecture. What she finds obligatory to do is to pay attention to various details around: it seems to be better to introduce a work and create appropriate environment so that the visitor is able to comprehend the main message of the work. With the help of her works, people are free to learn more about various types of identities: cultural identity aims at disclosing the peculiarities of the world around, political identity shows the conditions under which artworks are developed, and personal identity focuses on the ways of how people understand art and its trends. One of the most significant ideas of Hodge’s works is to prove that it is easy to involve a person into the world of art and make him/her think about architecture as an integral part of human life. In my opinion, the achievements demonstrated by Brooke Hodge are worth attention. She does not find it necessary to stop at one particular point but take any steps just in order to prove that she can do more. Her works involve many people as they have a number of grounds, and if you are not interested in one point, you may be passionate with another aspect of the same work.Advertising Looking for report on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Works Cited â€Å"From the Recent Past: New Acquisitions.† The Museum of Contemporary Art, Los Angeles. 2011. Web. â€Å"On the Line.† Los Angeles Contemporary Exhibition. 2011. Web. â€Å"Skin + Bones: Parallel Practices in Fashion and Architecture†. The Museum of Contemporary Art, Los Angeles. 2011. Web. â€Å"Vija Celmins: Television and Disaster 1964-1966.† Los Angeles County Museum of Art. 2011. Web. This report on The Museum of Contemporary Art was written and submitted by user Abby Hines 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.

Impact of Slavery on the British Industrial Revolution

Impact of Slavery on the British Industrial Revolution Free Online Research Papers Slavery in early European history holds a more economical stance and is seen as a gateway for the industrial revolution of Britain. Many countries including Britain fought for African trading routes. The economy of Britain began to flourish rapidly after the introduction of slaves. In addition to this, after the abolition of slavery, the economy and production of crops diminished to an unbelievable extent. The trading routes between Europe and Africa caused a lot of tension between neighboring countries. Taking control of these routes was more profitable than finding a gold mine for most traders. There came a point in time where the trade of slavery would yield more than gold and herbs combined. It was a business that many traders strived to be part of. The Portuguese controlled the first trading routes to Africa but nearing the 16th century these routes were taken over by the Dutch who held them for nearly a century. As a result of the increased demand for slaves and the profit being made from this trade, countries such as the French and English aimed towards this trade as well. The English and French eventually took over this trade and passed Acts to keep control. Would all these countries put that much effort and risk because of racist views? Economics and money was their main goal centuries ago as it is today. A representation of this would be the ‘Enterprize’ ship tha t netted a profit of nearly twenty-five thousand pounds from one cargo of slaves. With the increased demand for slaves, larger ships were travelling across the Atlantic to Africa in order to carry more slaves in a single roundtrip. This sparked a new age of ship architecture as new models with greater stability and reliance were being built. â€Å"Around 1730, in Bristol it was estimated that on a fortunate voyage the profit on a cargo of about 270 slaves reached 7,000 pounds or 8,000 pounds†. Due to the growing necessity for slaves and as a result -of this, the considerable decrease in number of Africans to be enslaved, commercial farmers and planters were going out of their way to buy these slaves. It was seen as a long-term investment with greater profit outcomes and less work on their part. The British economy was greatly influenced by the evolution of this slave trade and the slave trade was the main spark of the Industrial Revolution of Britain. Eric William stated that â€Å"The profits obtained provided one of the main streams of that accumulation of capital in England which financed the Industrial Revolution†. Monitoring the British economy from the beginning of the slave trade in Britain until the abolition of it, one can see the unbelievable increase in wealth of farmers and production of crops. This increase in production kept the trade within Britain which depreciated the crops imported from Britain but increased those exported. This led to a large monetary influx into Britain because it was self sustained. One of the main crops being grown in large amounts all over Britain was sugar. â€Å"The West Indian islands became the hub of the British Empire, of immense importance to the grandeur and prosperity of England. It was the Negro slaves who made thes e sugar colonies the most precious colonies ever recorded in the whole annals of imperialism†. This goes to show how important slavery was for Britain. In order for a slavery to cause an Industrial Revolution, there was no chance of Britain letting go of such an inhumane but golden opportunity. The trade gave a triple stimulus to British Industry. Many people see slavery in Britain as a racist point of view as it was directed towards one certain culture and stereotyped color, but nobody ever thought of the economic stance that it gave Britain. The use of slavery by Britain aided them in becoming one of the countries in the triangular trade. They simply saw slavery as an easy way to make enough money to build their economy instead of seeing it as unethical and unjust. â€Å"This is what society is like. The infrastructure is more important than the super-structure, the economic base than the ideologies†. This goes back to show home important building the economy was for Britain during that time period. If the law making all humans equal was removed from the constitutio n today, slavery has a strong will of returning as economy plays a large role in many decisions. â€Å"Slavery was not born of racism: rather, racism was the consequence of slavery.† What Eric Williams meant by this quote was simply that slavery was not founded as a result of racism but grew into Britain and many other countries around the world because of its aid to the economy and production of goods. As a result of the boost in Britain’s economy, Britain could not allow for the abolition of slavery even with riots breaking out for justice. This in turn was seen as racism and was disguised from its economic standpoint. Britain’s economy took a great plunge after the abolition of slavery. The declivity in production of crops as a result of the shortened workforce on the fields caused fear in the colonies. Farmers’ could not sustain their crops and many feared the loss of their business and trade. Exporting goods was enhanced again as slavery began to fade away. â€Å"Since after the abolition of the slave trade in 1807, the planters were forced to rely on their existing workforce and its reproduction to keep the estates in operation.† Flooding Britain with anxiety and uneasiness, the fall of the slave trade struck the nation’s economy with great threat. Thankfully, Britain held itself together through these rough times and focused on building an empire rather than just sustaining daily living. Holding this mindset, Britain had eventually sustained its economy to such a fixed condition that the abolition of slavery did not affect them at such a negative extent. Britain held its ground and as an outcome of the Industrial Revolution and began to grow at a rapid pace with increased industrialization and a vast growth of population in colonies. Factories were opening up on every corner employing hundreds of thousands of individuals. This accelerated industrialization acquired increasing capital which allowed for the Atlantic slave trade to nearly abolish as well as the Triangular trade. This eventually led them to become one of if not the strongest nation in the world. Through the vast change of Britain’s economy throughout the African slave trade, we can see that the relationship of slavery with Britain’s economy was a direct positive correlation. The more slaves employed on these fields yielded a larger production of crops to be sold which in turn increased Britain’s main capital as a whole following this correlation closely. The triangular trade was highly profitable and was probably the main cause of Britain’s accumulation of capital. The accumulation of capital from the â€Å"slave trade† significantly aided in the prospering of investments. Investments predominantly consisted of Industries that hired many of the residents in these European colonies. On account of the greater profits obtained from these Industries in comparison to the African slave trade, Britain found it quite easy to abolish slavery. The influx of capital that was poured into the Atlantic slave trade was not as promising as the Industries b eing set up. It is quite obvious that capitalism was Britain’s main ambition during this span of great economic stress. ‘Dr Eric Williams has stressed, in his Capitalism and Slavery, that the origin of transatlantic Negro servitude was thus ‘economic, not racial; it had to do not with the color of the labourer, but the cheapness of the labour’. Slavery of Africans in Britain was not seen as racist for the Europeans but as vital to their economy. Racism was a result of Britain’s desire for capital as they set aside any reasoning of inhumanity and equality of others. They saw these Africans as different from their own which is a form of racism but their actions were purely economical as one can see through-out this time period. If slavery held a racist standpoint, why would Britain abolish slavery once a new, more promising opportunity approached them? The economic theory comes into consideration again where slavery was simply a part of building Britain’s ec onomy and allowing for the Industrial Revolution. â€Å"Edward Gibbon Wakefield, asseverated that the reasons for Negro slavery ‘are not moral, but economical, circumstances; they relate not to vice or to virtue, but to production’.† Economics and power overthrow moral ideologies which in turn are hidden behind the development of a great infrastructure. Bibliography James Pope-Hennessy, Sins of the Fathers: The Atlantic Slave Trade 1441-1807, First published in 1970, ed. James Pope-Hennessy (Castle Books. 2004) Frank Cass, The Slaves’ Economy, First published in 1991, ed. Ira Berlin and Philip D. Morgan (Frank Cass CO. LTD. 1991) Eric Williams, Capitalism and Slavery, First published in 1944, ed. Eric Williams (The University of North Carolina Press, October 14, 1994) Barbara Solow Stanley Engerman, British Capitalism and Caribbean Slavery, originally published in 2004, ed. Barbara Solow Stanley Engerman (Cambridge: Cambridge University Press . 2004) Research Papers on Impact of Slavery on the British Industrial RevolutionAppeasement Policy Towards the Outbreak of World War 219 Century Society: A Deeply Divided EraDefinition of Export QuotasQuebec and CanadaBringing Democracy to AfricaAssess the importance of Nationalism 1815-1850 EuropeGenetic EngineeringPETSTEL analysis of IndiaBook Review on The Autobiography of Malcolm XTwilight of the UAW