Realism And Grotesque In Gullivers Travels English Literature Essay

Realism And Grotesque In Gullivers Travels English Literature Essay Gullivers Travels is a pivotal work in the history of the novel as it exhibits the ways the novel inherits and develops Menippean satire and grotesque aesthetics. Gullivers Travels has rarely been regarded as a proper early novel like Robinson Crusoe or Pamela largely due to two conventional understandings of genre and aesthetics. The first common understanding is that the novel and Menippean satire are mutually exclusive genres. Critics have turned to Menippean satire as if to argue that the genre of Gullivers Travels is kind of a prose fiction that is not the novel. Northrop Frye, for instance, begins his discussion of Gullivers Travels by mentioning that most people would call Gullivers Travels fiction but not a novel. It must then be another form of fiction, i.e. Menippean satire (308). In turn, critics who claim Gullivers Travels as a novel tend to ignore the Menippean tradition of the work; Maximillian Novak asserts that once we consider Gullivers Travels as a work of fiction, we cannot shunt it off into a meaningless category such as anatomy or Menippean satire, in his reading of the work as a picaresque novel(35). The second conventional idea is that the grotesque and realism are also two disparate aesthetic realms, and that grotesque aesthetics in Gullivers Travels- from its use of the fantastic, metamorphosis, or the mad man theme to its excremental vision-does not fit into the realistic aesthetic of the novel. The seeming generic instability of Gullivers Travels mostly derives from our preconceived notion of the novel as a genre of probable realism with verisimilar characters and plausible plots. In fact, even the most acute critics of Swift are not entirely free from this prevalent given notion of what the novel should be. Brean Hammond, who appropriates Bakhtins conception of novelization to explain the cultural shifts of the long eighteenth century toward a hybridization that breaks down traditionally observed generic boundaries, surprisingly turn s to a conventional notion of the novel when he argues that Gullivers Travels is not a novel like Robinson Crusoe partly because Gulliver is not a character like Crusoe, a character who is a credible approximation of a human being,-i.e. a verisimilar character-but a device that can be exploited for satiric purposes(250, 270). Hammond is right that [Gullivers Travels] is ideologically opposed to the set of attitudes and beliefs that was fuelling the development of the novel as a genre; part of the intention of the work lies in the parody of Robinson Crusoe or the stuff of 1720s romanceby Haywood, as he remarks(270). That does not mean, however, that Gullivers Travels is not a novel. Swift might have intended his Menippean work partly as a Scriblerian satire that attacks modern hack writings. Paradoxically, or according to the process of novelization, however, Gullivers Travels turned out to be a significant addition to the novelistic tradition; the novelistic energies that Swift desp ised and denigrated boomeranged and informed his satire, and transformed it into a novel. Gullivers Travels is not exhaustively explained by our conventional notion of the novel, but it does not mean that it is not a novel. Rather, Swifts work characteristically challenges our common notion of the novel, and reveals the rich tradition of Menippean satire that is absorbed in the novel. In a similar vein, the grotesque aesthetics of Gullivers Travels belies our confined notion of realism, or realistic aesthetics. It manifests that (novelistic) realism is not limited to probable realism, a mixture of empirical episteme and the modern transformation of classical mimetic aesthetics, but also involves low realism-crudely put, an antonym of idealism or classicism. At a superficial level, the grotesque and realism could look like two separate or almost opposite notions. Geoffrey Harpham and Mikhail Bakhtin, however, illustrate that the grotesque and realism are compatible notions at a fundamental level, and that the history of the grotesque is also the history of the recognition of that compatibility. Harpham provides a useful account of the shift of the notion of the relation between the grotesque and realism. According to him, while the Renaissance regarded grottesche as pure fantasy, in the eighteenth and nineteenth centuries we find [the grotesque] associated with car icature in.. .Rowlandson, Hogarth, Goya, most of whom we would not associate with fantastic art, and by the beginning of the twentieth century.. .Thomas Mann commented.. .that the grotesque was properly something more than the truth, something real in the extreme.' According to this narrative, the history of the grotesque is a gradual recognition of the fundamentally realistic characteristic of the Grotesque, which is distinct from the mimetic realism of the Classical (xviii-xix). Bakhtin offers another powerful narrative on the history of the grotesque, or the intricate relation of the grotesque and realism. The grotesque and realism are almost synonymous for Bakhtin, as is epitomized in his core term of grotesque realism. Grotesque realism, which lower[s] all that is high, spiritual, ideal, abstract and is opposed to severance from the material and bodily roots of the world, is culminated in the literature of the Renaissance after the medieval culture of folk humor(19-20, 32). As starkly opposed to classical aesthetics, grotesque realism is closely linked to some other central concepts of Bakhtin, like the carnival spirit, the material bodily principle, folk humor, or the ambivalent and regenerating laughter of the people. Bakhtin also historicizes the concept of the grotesque, confining grotesque realism to the Renaissance grotesque, although he underscores the living tradition of Renaissance grotesque realism in world literature. He explains that the Renaissance grotesque is reduced and transformed in later periods, and thus the Romantic grotesque (and the modernist grotesque) is more like an individual carnival, marked by a vivid sense of isolation, losing laughters regenerating power.(37). One notable element in Bakhtins historicization of the grotesque is, however, that the eighteenth-century grotesque is almost invisible between the Renaissance grotesque and the Romantic grotesque. One reason would be, as Bakhtin implies, that the eighteenth century directly inherited the Renaissance grotesque but also embedded the elements of classicism or cold rationalism: a time that the positive bodily hyperbole of Rabelais and the bourgeois disciplined body were uncomfortably commingled and intensely struggled with each other. Thus the eighteenth-century grotesque was the space in which the Renaissance struggle between the Grotesque and the Classical was continued in a displaced form of the struggle between the lingering force of the Renaissance grotesque and now ascending bourgeois rationalism, classical bourgeois reason. The Augustan formal verse satire of Dryden, Pope, or Swift played out the unprecedentedly intense contention between the classical-rational and the grotesque through an odd mixture of refined, sophisticated forms and disorderly, brimming-over contents. Swift also embodies the bitter conflict of the classical-rational and the grotesque through (the relation of) the Houyhnhnms and the Yahoos in Gullivers Travels, a Menippean satire and a novel, which remarkably displays the peculiar characteristic of the eighteenth-century grotesque. Although critics have increasingly acknowledged that Gullivers Travels is a Menippean satire, there are few detailed readings of the work in the Menippean tradition, particularly in relation to Bakhtins concept of the genre as an authentic precursor of the novel. While scrutinizing the relation of the Houyhnhnms and the Yahoos as a privileged locus of the Swiftian grotesque, the political dimension of the grotesque will be revealed, which is embedded in the Yahoos as an allegory of the Irish, or colonial subjects, and then briefly examine the political dimension of (low) realism. The Menippean fantastic usually generates three effects, which are fully used in Gullivers Travels. First, the fantastic adventure provides a new, non-human perspective that defamiliarizes our accustomed world, or debunks our habitual, human-centered way of thinking. As Bakhtin describes, it provoke[es] and test[s] a truth by using the observation from some unusual point of view, from on high, for example, which results in a radical change in the scale of the observed phenomena of life(116). Secondly, the Menippean fantastic engages popular imagination or a comic, carnivalesque spirit; the popularity of Gullivers Travels, particularly as a classic childrens book, is considerably indebted to this folkloric imagination embedded in the fantastic. Thirdly, the fantastic offers an occasion to critique the authors (and the assumed readers) contemporary reality, usually by imagining an upside-down world or a Utopian society. In the imagined spaces of Lilliput, Brobdingnag, Laputa, or Houyhn hnmland (or Yahooland), Swift cuttingly criticizes the domestic policies of England as well as the overall imperialism of Europe. Gullivers first meal at the Brobdingnagian farmers house illustrates how the three levels of the fantastic-ultimate questions, popular laughter, and a critique of contemporary reality-are simultaneously generated in Gullivers Travels. When the farmers wife gave him something to eat and drink, Gulliver says he: made her a low bow, took out my knife and fork, and fell to eat, which gave them exceeding delight .1 took up the vessel with much difficulty in both hands, and in a most respectful manner drank to her ladyships health, expressing the words as loud as I could in English, which made the company laugh so heartily, that I was almost deafened with the noise. (85). To imagine Gulliver taking out his fork and knife from his magic pockets, in which he seems to have everything necessary wherever he is stranded, is certainly hilarious. Apart from that, why is this scene full of humor, and why does the reader participate in the Brobdingnagians delight and laughter at Gullivers actions? To use knife and fork in eating is a common custom in eighteenth-century Europe, and to drink to her ladyships health in a most respectful manner is also a well-mannered behavior. Yet from the perspective of the Brobdingnagians, to whom Gulliver is like a small dangerous animal or a strange animal at first (83, 90), his socially tailored and overly polite behaviors could look affected or ridiculous mostly because of the incongruity between a strange animal and his pretense to be a perfectly civilized man. Their giant perspective makes us see Gullivers pride in his being a gentleman who acts according to the social code, and by extension, the pride of all humankind in his or her exclusive claim to high civilization. Moreover, a non-human view renders the European manner of using knife and fork or making a gallant compliment on the hostess not so much absolute social etiquette but one cultural custom among many cultural possibilities. To Brobdingnagians, it makes little difference whether a small animal like Gulliver uses knife and fork (as in Europe) or his fingers (as in some other cultures), although using fingers for food is an unequivocal sign of barbarism from a European perspective. Likewise, a humble showing of gratitude for food would be as good as a showy display of a toast for the hostess in a Brobdingnagians view. The Olympian perspective of the Brobdingnagians, which almost innocently exposes the limited view of human beings, also serves as a device of a severe attack on human folly or pride. When Gulliver finished his talking of[his] own beloved country, the Brobdingnagin king could not forbear taking [Gulliver] up in his right hand, and stroking [him] gently with the other, after an hearty fit of laughing, asked [him] whether [he was] a Whig or a Tory. Then turning to his first ministerà ¢Ã¢â€š ¬Ã‚ ¦ he observed how contemptible a thing was human grandeur, which could be mimicked by such diminutive insects as I (100). What makes the kings rhetorical question incisive does not derive from any political considerations but from the sheer size difference between the king and Gulliver; the kings gesture of stroking [Gulliver] gently with his left hand nullifies a pressing problem in eighteenth-century England into a trivial or meaningless one. The exorbitant pride and atrociousness of humans, w hich the king points out repeatedly, looks more preposterous in the frame where giants are human and Gulliver is a diminutive insect. We humans become the most pernicious race of little odious vermin or an impotent and groveling an insect (123, 125) from a Brobdingnagianss view. Laughter is reduced to the level of bitterness here. The fantastic convention of Menippean satire is entangled with another main convention of the genre: metamorphosis. Gullivers travels into fantastic lands are coextensive with his experiences of metamorphosis into a strange, monstrous, unnatural or grotesque being. Metamorphosis, like the fantastic, holds a formal generic significance as opposed to the classical aesthetics of high genres. It destroy[s] the epic and tragic wholeness of a person and his fate: the possibility of another person and another life are revealed in himà ¢Ã¢â€š ¬Ã‚ ¦ he ceases to coincide with himself, as Bakhtin notes. To compare Gullivers fantastic travels and Odysseuss epic journey around their encounter with a monster and its effect on their identities is illuminating. When Odysseus confronts a savage monster, Polyphemus, it is his fate and his character to defeat the Cyclops by using his wiles, as is evidenced in Polyphemus later recall of the prophecy. Throughout his long journey, Odysseuss identity nev er changes, despite his varied disguises, with any encounters with monsters, like Charibdis, Scylla, or Circe. The boundary between a hero and a monster, or the self and the other, cannot be blurred in Odysseus. In contrast, Gullivers encounters with giant Brobdingnagians, which he understandably regarded as monsters at first (seven monsters like himself came toward him 82), shakes his identity to the core. While the Brobdignagians regard themselves as humans, it is Gulliver who becomes a monster, or an unnatural anomaly among those humans. The scholars of Brobdingnag unanimously conclude that Gulliver is Lusus Naturae, or a freak of nature (98). Metamophorsis assumes a permeating line between a hero and a monster, and Gullivers experience of being transformed into a monster among the pigmy Lilliputians or the giant Brobdingnagians (as far as to see himself as a freak) manifests a different concept of self and the other in Menippean satire from that in high genres like The Odyssey. While Odysseus unfailingly defeats various monsters in his way home to reestablish his (social) identity, Gulliver suffers being transformed into grotesque figures in his fantastic adventures only to be mad when he is back home. Gullivers experience as a grotesque being is not only significant in the frame of the fantastic but also holds a strong social resonance-to people in the margin or periphery, a metaphoric transformation into a grotesque being is neither rare nor bizarre, anyway. Gullivers odd trials in Brobdingnag or Lilliput not only involve becoming a symbolic monster, like a diminutive insect or Man-Mountain, but also signify being thrown into a socially abject, precarious position, like a slave or a highly vulnerable courtier. In Brobdingnag, Gulliver has to go through the ignominy of being carried about for a monster, till [he is] half dead with weariness and vexation since now he is [his] masters slave (92, 93, 95). Likewise, despite the high title of Nardac in Lilliput, Gulliver is notified of his friends generous proposal to get him blind and eventually starved to death as an alternative to capital punishment, on which Gulliver says having never been designed for a courtier either by my birth or educationà ¢Ã¢â€š ¬Ã‚ ¦ 1 could not discover the lenity and favor of this sentence (69). Gullivers denial of his own identity, or the denial of his monstrosity among the normal inhabitants of Brobdignag, certainly anticipates his total conversion in Houyhnhnmland, his ardent wish to be like the Houyhnhnms and the insistent denial of his Yahooness. And as much as the fantastic lands are overlapped with the real world, Gullivers denial of his abject, grotesque identity so as to be like his dominant masters comes to signify the split identity of a colonial subject. In fact, Gullivers shifting and conflicting subject positions (as a colonized and a colonizer) throughout the whole narrative prepares him for his ultimate madness, a total split identity between his Yahooness and his desire to be a Houyhnhnm. The eventual madness of Gulliver, who always keep[s his] nose well stopped with rue, lavender, or tobacco leaves to avoid the [offensive] smell of a Yahoo (271), or converse[s] with [his horses] at least four hours every day to improve his virtue (266), reflects not so much Swifts stark misanthropy but a common Menippean experiment with a split self. As is typical of Menippean satire, Gullivers madness contains a comic element. Even the most serious reader would smile at the moments like as soon as I entered the house, my wife took me in her arms, and kissed me, at which having not been used to the touch of that odious animal for so many years, I fell in a swoon for almost an hour (265), or I feel my spirits revived by the smell [the groom] contracts in the stable (266). Scattered throughout Bakhtins works, we can find references to Swift as a central author in the eighteenth century, who inherited and developed the Renaissance grotesque and Menippean imagination: the contents of the carnival-grotesque elementà ¢Ã¢â€š ¬Ã‚ ¦ were preservedà ¢Ã¢â€š ¬Ã‚ ¦ in the work of Swift; this line of experimental fantasicality continuesà ¢Ã¢â€š ¬Ã‚ ¦ in Rabelais, Swift, Voltaire and others. Yet there seem to be some notable differences between the Renaissance or Rabelaisian grotesque (that Bakhtin stresses) and the Swiftian grotesque. A conspicuous example of this difference is the peculiar image of the body in Swift, his excremental vision, or the hallmark of his scatological imagery. Bakhtin explains that in Rabelaiss grotesque realism, the bodily element is deeply positive it is opposed to severance from the material and bodily roots of the world (19). As any reader would remark, however, the body image in Gullivers Travels is hard to be described as deeply positive. Swifts body is rather full of filthy, despicable, ugly, burdensome, obscene, or scatological images. Gullivers description of the monstrous breast of a nurse in Brobdingnag ( the hue both of [the nipple] and the dug so varified with spots, pimples and freckles, that nothing could appear more nauseous 87), or of a woman beggar in the country with a cancer in her breast, swelled to a monstrous size, full of holes (105), is only a couple of memorable examples that display negative images of the body in Gullivers Travels. Swifts body also does not involve the image of brimming-over, ambivalence, or regeneration, which Bakhtin asserts are the core principles of the material bodily lower stratum in the Renaissance grotesque. In Gullivers Travels the exaggerated bodily image becomes deplorable repletion, from which all diseases arise (233), or the ultimate culprit of bodily diseases. Human beings are sick because we eat when we were not hungry, and drank without the provocation o f thirst (233), as Gulliver mentions to his master Houhynhnm. Gullivers Travels embodies the intimate relation of the grotesque-allegorical and realism in its own peculiar manner. Gullivers Travels is a crucial work in the discussion of realism in the novel partly because it illustrates how grotesque aesthetics, a crucial part of low realism, positively invokes the authors bad contemporary reality. If realism still matters, one reason lies in that it evokes the embroiled relation between text and world, the real world in which all kinds of oppression, constraints, or injustice-i. e. the objects of Swifts satire-are still happening. It is not surprising that the definition of realism is so various as to seem nearly meaningless, for the definition of reality is so much different as that of realism, depending on each individual or each period; terms like psychological realism, fantastic realism, or historical realism, already imply what the user of the term thinks is the fundamental reality-psychology, fantasy, or history. The political dimension of realism constitutes an integral part of it since realism involves an inevitable question of whose reality is at sta ke. Houyhnhnmland is also Yahooland, according to whose reality is dominant. The Houyhnhnms have had debates for ages about the extermination of the Yahoos, but the Yahoos in turn seem to be ready to have rebellion or mutiny, given a provocation, like the inhabitants of Lindalino. Swift gives a most horrible form to the Yahoos, and even does not give a voice to them: they only howl. However, he makes the reader see that Houyhnhnmland is also Yahooland, not explicitly nevertheless, but still powerfully and disturbingly.

Dixons Hrm Brief

Human Resource Management Functional Brief Dixons Group’s decision to reorientate the business around serving the customer has had far reaching implications for Human Resource Management (HRM). The emphasis on first-class customer service is intended to help Dixons differentiate itself from its online competitors. The decision to stress personal, face-to-face interactions is clearly something that online competitors will be unable to replicate and if this can be turned into a source of competitive advantage for the company then it represents a sound strategic move.The strategy does, however, hinge on Dixons being able to deliver this excellent customer service. The very face-to-face nature of service delivery means that it can only be provided through the employees of Dixons group which, in turn, means that human resource management is pivotal. This shift in emphasis is best illustrated by the two delivery drivers in the video of the customer plan who comment that when deliver ing goods ‘we shouldn’t just be saying â€Å"sign here† and then running off. We should give them [the customer] that experience’. http://www. dixonsretail. com/dixons/templates/modules/video. jsp) Aligning HRM strategy with this shift in business strategy has considerable implications for Dixons employees. With employee turnover at 15% – a low level for a retail organisation – the majority of employees affected by the change have spent time working under the previous system. This means that a significant amount of retraining is necessary to ensure that employees both know and are able to implement the new strategy.At the heart of the new strategy is the idea of solving problems for the customer. As Group Chief Executive, Sebastian James points out ‘When customers come in and say they want a television what they actually mean is that they want to do something – they want to watch the game, entertain the kids†¦Ã¢â‚¬â„¢ Traini ng Dixons staff to help solve the customers’ problems involves ensuring that they not merely have excellent product knowledge but also the know how to provide ancillary services around the product.Dixons achieves this through a mixture of techniques, for example workshops and e-learning. Techniques to help the employees remember the key features of particular products are also employed. Through a clear, customer orientated approach, Dixons hopes to be able to help solve their customers’ problems, rather than simply sell them a box. This training has cost Dixons a great deal of money, with all staff having been through at least three cycles of retraining.These efforts, however, appear to be bearing fruit with significantly improved customer advocacy measures. The percentage of customers who are ‘very likely to recommend’ Dixons has risen from 43% to 73% since 2010 (Dixons Annual Report and Accounts 2011/12, p. 9). The Dixons case illustrates how the alignme nt of business strategy with people strategy is important in achieving organisational objectives. The customer metrics appear to be improving and it will be interesting to see how this impacts on the financial performance of the business.

Ethics, Intellectual Property, And Piracy - 1379 Words

Personal and business ethics in an ever-expanding technological world are challenged in many different ways. Multiple communication methods and the availability of the Internet have made a large world much smaller in the context of information sharing, so the importance of understanding and utilizing measures to protect intellectual property and copyrights is vital to business success, ethical understanding and acceptance. In the following, I will specifically discuss the concepts of copyright, intellectual property, and piracy. Copyrights are a form of intellectual property, and the concepts of piracy and plagiarism threatens the viability and integrity of both. Understanding these concepts helps shape individual and business codes of ethics. Copyright and Intellectual Property Copyrights are defined by the United States Copyright office as â€Å"original works of authorship including literary, dramatic, musical, artistic, and certain other intellectual works† (Copyright Basics, n.d.). The laws protect these works whether they are published or not. Copyright laws protect these works from their time of inception and are not required to be registered, though registration assists notifying the public about the work and makes it easier for original owners to lay claim to the copyright if it has been infringed upon. Copyright laws can be traced all the way back to the early 1700’s when the first laws were enacted to protect the works of individuals. According to the IntellectualShow MoreRelatedA Professional Code Of Ethics1283 Words   |  6 Pagesdistribute intellectual properly and pirate electronic content has increased with the advancements in technology and globalization. As members of the student body, University of the People students must understand the detriments of plagiarism, piracy and ensure they protect Intellectual Property and respect copyright laws. Developing a professional code of ethics as a computer professional, will help navigate our careers and help us make proper ethical decisions and choices. Intellectual Property TheRead MoreThe Purpose Of Copyright Laws1130 Words   |  5 Pageslivelihoods depend upon the recognition of rights† (p. 1, par. 1) for their intellectual properties. In the contemporary business world, most companies that sell products of some kind depend on other firms for the design, production, and distribution of the product to make it available for selling. Such sales are often either wholesale to retailers or retail to consumers. Violations of the copyrights of intellectual property (IP), destroys the chain of commerce reflected in these different industries;Read MoreWhat Are Piracy And Intellectual Property?1012 Words   |  5 Pagessystems in the world are strongly influenced by the western civilization values. Laws for copyright, piracy, intellectual property somehow find the origins in the socio-economical system of our world. In the following essay, we will try to explore the different characteristics of the worlds which may engender the need for copyright. We will next explain what are piracy and intellectual property vis-à  -vis the notion of copyright. Several characteristics of today’s world and its business made copyrightRead MoreThe Ethical Issue Of Software Piracy1530 Words   |  7 Pages Introduction In this paper we are going to examine why personal morality is an oxymoron and how a moral system is analogous to a game. Then we are going to analyze how the ethical issue of software piracy is seen from the notion of common moral system according to Gert. Personal morality is an oxymoron So let’s first see why Gert believes that the notion of ‘personal morality† is an oxymoron. According to Gert, a moral system is public because everyone should know and be familiar with the rulesRead MoreWhy Copyright Laws Are Important Today s Business World783 Words   |  4 Pagesareas of technology and culture. The promotion and protection of intellectual property encourages the commitment of additional resources for further innovation, spurs economic growth, creates new jobs and industries, and enhances the quality and enjoyment of life. (WIPO, n.d.) In this essay I am going to discuss why copyright laws are important in today’s business world and why copying software and other resources is called â€Å"piracy†. Why copyright laws are important in today’s business world CopyrightRead MoreIn China, Why Piracy Is Here to stay1500 Words   |  6 PagesChina, Why Piracy Is Here To Stay Introduction: The focus of this article is to address about the digital piracy problem happening in China. The problem of Piracy exists ever since the birth of copyright law. Never the less most of the countries do have certain amount of digital piracy problem going on. Piracy cannot be easily controlled, hence comes the copyright laws and digital piracy law into action. Summary: China is largest and developed country in the world and where piracy prevails sinceRead MoreThe Issues Facing The Entertainment Industry848 Words   |  4 Pagesindustry is piracy. It is illegal under federal law to copy or reproduce someone else’s work without their permission, not to mention it is also unethical. There are arguments to be made that it is hurting the entertainment industry by losing revenue. While people may try to justify illegally copying technology the truth is it is no different than someone robbing a bank. When a studio produces a movie, a singer put out a new track or a coder writes new software what they are creating is intellectual propertyRead MoreEthical Computing: Copying Music or Software from Another Person or over the Internet1338 Words   |  5 Pagesexpertise with computer users globally that give them the opportunity to capture, distribute, duplicate and even re-publish massive amounts of intellectual property that isnt theirs (Wilson, 2007). This is forcing the issue of copyright infringement and the protection of intellectual property at a global scale. In so doing, this dynamics is also re-ordering ethics surrounding all forms of digital content as well. Opening Statements The combined effects of the freemium business models that offerRead MoreEthics and Information Security Essay1125 Words   |  5 PagesEthics and Online Source Information What is Ethics? In my opinion, ethics give people free will to make right choices. People have free will to make choices that are governed with responsibility, accountability, and liability. We have a responsibility to perform in an ethical manner and be accountable for our choices or actions. Regardless of the circumstances and choices we make, there are consequences if we make the wrong choice. The question of whether an action or choice is ethical or notRead MoreThe Legal Protection Of The United States957 Words   |  4 PagesCopyright laws in the United States are very important because it protects your work from someone claiming that it’s theirs. According to the World Intellectual Property Organization (WIPO), The main reason why intellectual property laws exist is because it protects the progress and well-being of humanity by creating and inventing new works in the areas of technology and culture. Second, the legal protection promotes innovation. Lastly, the promotion increases jobs , increases technological advancements

Schizophrenia And Its Effects On Schizophrenia - 815 Words

The person I chose came from a famous novel and has schizophrenia. According to Mayo Clinic â€Å"Schizophrenia is a severe brain disorder in which people interpret reality abnormally. Schizophrenia may result in some combination of hallucinations, delusions, and extremely disordered thinking and behavior. Contrary to popular belief, schizophrenia is not a split personality or multiple personality. The word schizophrenia does mean split mind, but it refers to a disruption of the usual balance of emotions and thinking. Schizophrenia is a chronic condition, requiring lifelong treatment.†(Schizophrenia, August 2014). The individual would start showing signs of reduced pleasure in life, difficulty participating in activities, barely speaking,†¦show more content†¦Larry Stein has said that a cause could be hyprdopamine increase causing nerves fibers destroyed in the brain. With the psychodynamic approach of schizophrenia is the breakdown of the person’s ego. Ego con trols the id’s impulses and the compromise of the id and superego. It can cause the person the loose touch with reality and no longer associate with others. The start of hallucinations and not knowing what is imagination from reality. According to post-Freudians â€Å"The therapist attempted to bring about a regression to early childhood and then would take on the role of parent/nurturer, thereby coaxing the patient to develop for a second time, the return to adulthood bringing with it a corresponding redevelopment of the ego and reconnecting them with reality.† (Schizophrenia). Next with behavioral theorist according to psychiatric times, â€Å"The therapeutic techniques used for patients with schizophrenia are based on the general principles of CBT (Cognitive Behavioral Therapy). Links are established between thoughts, feelings, and actions in a collaborative and accepting atmosphere. Agendas are set and used but are generally more flexibly developed than in tradit ional CBT. The duration of therapy varies according to the individual s need, generally between 12 and 20 sessions, but often with an option of ongoing booster sessions. CBT for psychosis usually proceeds through the following phase’s assessment and engagement stage.† (Schizophrenia). During the ABC

Security Risk Management Essay - 2181 Words

Introduction The reader will become familiarised with the term risk and it definitions from specifically the ISO 31000 standard of risk management and also the definition of risk from the criminology crime triangle. Which one of these two definitions that are the most suitable for usage within the security industry will be discussed and evaluated. How and why consequence is important when assessing risk priorities and determining where to allocate resources will be examined and answered. 1. Definitions Security risk management is â€Å"the culture, processes and structures that are directed towards maximizing benefits and minimizing disbenefits in security, consistent with achieving business objectives†. (Australia, 2006) And where†¦show more content†¦There are three elements that must exist for a crime to occur: †¢ motivation †¢ capability †¢ opportunity This concept is called the crime triangle. With knowledge of the elements within the crime triangle the risk of a crime being committed can be estimated and preventative measures may be put in place. Motivation according to Vellani is created by the actual target for the crime which is the asset or assets. An asset contains of people, property and information. Vellani states that removal of motivation probably is impossible, and therefore the focus for security programs should be reducing the opportunity to commit crime. Vellani suggests that the crime triangle is an easy and effective method of illustrating how crime can be prevented. 1.3. Consequence Consequence is described in the risk management standard as the â€Å"outcome of an event affecting objectives†. (Australia, 2009) According to this a consequence can be both positive and negative. 2. What are the needs of the security industry? To answer that question one must first know what the security industry is. According to Brooks (2009) security is not easily defined and can even be considered being the national military defence. To exactly know what the security industry is it therefore quite intricate. However the assumption is made that the security industry and security in general has the same needs. As previously mentioned security risk management shouldShow MoreRelatedSecurity Risks And Risk Management1267 Words   |  6 PagesEHEALTH SECURITY RISK MANAGEMENT Abstract Protecting the data related to health sector, business organizations, information technology, etc. is highly essential as they are subject to various threats and hazards periodically. In order to provide security, the information has to adapt to certain risk analysis and management techniques which has to be done dynamically with the changes in environment. This paper briefly describes about analyzing the security risks and risk management processes to beRead MoreSecurity Risks And Risk Management Process1263 Words   |  6 Pagesprovide security, the information has to adapt to certain risk analysis and management techniques which has to be done dynamically with the changes in environment. This paper briefly describes about analyzing the security risks and risk management processes to be followed for electronic health records to ensure privacy and security. Overview of Security Risk Management: Security is being free from threats. The term can be used with reference to crime, accidents of all kinds, etc. Security is a vastRead MoreInformation Security Risks And Risk Management1883 Words   |  8 Pagesused by organisations and charities wishing to exterminate the possible risks by assembly information security risk assessment (information security risk assessment). The ISRA is able to resolve the amount of the potential risk associated with an IT system. An ISRA method identifies an organization s security risks and provides a measured analysed security risk profile of critical assets in order to build plans to treat the risks hand would beneficial in health and social care to insure things areRead MoreSecurity Risk Analysis, Risk Management And Security Policies2275 Words   |  10 PagesResearch Report Security risk analysis, risk management and security policies Introduction:- in, business or in any sector relating trading, banking etc., information security is an important factor in which it is necessary to secure or hide the important business details such as client detail etc. So in information system technology, data storage management should be extremely secure the security conditions or security policies would be hard and there should be no flaw or weakness in informationRead MoreThe Homeland Security Risk Management1239 Words   |  5 Pages Homeland Security Risk Management Olgera Haywood American Military University Introduction Homeland security in United States comprises of complex and competing requirements, incentives, and interests that need to be managed and balanced effectively to achieve the desired national objectives. Security, resilience and safety of the country are endangered by different hazards such as cyberspace attacks, terrorism, manmade accidents, pandemics, natural disasters and transnationalRead MoreRisk Management And Homeland Security1309 Words   |  6 PagesRisk Management and Homeland Security The nation’s homeland security is a very multifaceted environment which must be controlled to effective function at its highest potential. â€Å"The safety, security, and resilience of the Nation are threatened by an array of hazards, including acts of terrorism, manmade accidents, and natural disasters† (DHS., 2011). All together, homeland security agencies must manage risks at all levels connected with an array of components. Collectively, these external andRead MoreInformation Security And Risk Management926 Words   |  4 PagesISOL 533- Information Security and Risk Management. I also got an internship opportunity of a part time CPT with Sapot Systems Inc as a Software Engineer. The knowledge and interest I had along with these courses, helped me to go that extra mile in my day to day job responsibility. Course learnings and It s impact on the Internship: Through ISOL-633, I got an extensive knowledge of Information security encompassing the US legal system and federal governance, security and privacy of financialRead MoreInformation Security Risk Management2820 Words   |  12 PagesDiscussion As observed at the 4th International Conference on Global e-Security in London in June 2008, Information Security Risk Management (ISRM) is a major concern of organizations worldwide. Although the number of existing ISRM methodologies is enormous, in practice a lot of resources are invested by organizations in creating new ISRM methodologies in order to capture more accurately the risks of their complex information systems. This is a crucial knowledge-intensive process for organizationsRead MoreInformation Security : It Risk Management1795 Words   |  8 Pages ITC 596 - IT Risk Management Professor: Michael Baron Table of Contents 1. Information security is Information risk management 3 2. Information Security Risk Assessment: The Qualitative Versus Quantitative 5 3. Perception of Risk 7 Reference 9 1. Information security is Information risk management Introduction The present Information Security technology seems insufficient to totally deal with all the ICT problems of the organization. As per BobRead MoreRisk Management Within The Homeland Security1115 Words   |  5 Pages Risk management within the homeland security Dustin S. Smith American Military University Abstract The department of homeland security uses an equation that will assess our economy, actions, public affairs, natural occurrences, consequences, threat, and vulnerability of threats. The component itself can be quite complex and problems exist in components through risk measures. The performance of modern technology depends on combinations of specific systems that are affected

Sony Marketing Plan Free Essays

A Company Profile Leslie Siedlak Marketing 470 Professor Schramm February 13, 2013 Executive Summary Sony is a global manufacturer of electronics both for consumers and professional markets. Sony’s most popular products include digital cameras, televisions, personal gaming systems, and personal computers. Sony competes with many other companies in the consumer electronics market including Samsung, LG, and Apple. We will write a custom essay sample on Sony Marketing Plan or any similar topic only for you Order Now Current Market Situation In the consumer electronics market, competition is at an all time high. With new technologies emerging constantly (3D TVs), it has become increasingly important to be the first and most innovative company. According to Yahoo Finance and MarketResearch. com, in 2014 the consumer electronics market is forecasted to have a value of $289. 5 billion, an increase of 14. 1% since 2009. SWOT Analysis Strengths: * Founded in 1946, Sony has become one of the well-known brands in the consumer electronics market. * History of innovation. From the Walkman to the Blu-Ray disc. * The Playstation, a home gaming system, is one of the company’s most popular products on the market. The Playstation been successful since inception and still has tremendous consumer demand. According to TechCrunch. com, sales of the Playstation 3 reached over $70 million in cumulative sales since its inception in 2006. * Not only is Sony in the consumer electronics market, but it has its own recording label and Sony Pictures Entertainment, which produces television and films. Weaknesses: * The high cost of media production has affected Sony’s pricing strategy. As a result, the company is losing an increasing amount of money and market share. * Too much diversification. Many consumers are confused as to what Sony produces. With music labels and entertainment/film studios, Sony has shifted from its core competency as a consumer electronics brand to a brand with too many forks in the fire. Opportunities: * To integrate its product line, Sony can take advantage of both its music and entertainment ventures and incorporate their gaming systems to deliver value added content. * Since Sony’s acquisition of $645 million in Olympus, Sony has the opportunity to enter the healthcare industry. Olympus has a 70% global market share in endoscopes. Since Sony provides image sensors to Olympus, Sony could benefit even more by acquiring these stakes. Threats: * Price competition from competitors such as Apple, LG, and Samsung * Hackers have been known to invade the Playstation network, which resulted in stolen customer information such as credit card numbers and addresses. Objectives Sony’s objectives focus on society and reducing impact on the environment. Reducing the impact on the environment includes all parts of RD, especially finding ways to reduce waste in product packaging and distribution. Sony believes in full disclosure of product information and performance of the company. Marketing Strategy Sony’s marketing strategy includes invigorating a brand that was once so popular in the market. Creating solid customer loyalty is also a large part of the Sony marketing plan. Action Plan Sony has developed a series of slogans over the years including â€Å"The One and Only,† â€Å"It’s a Sony,† and â€Å"Like No Other. † Currently Sony’s slogan is â€Å"Make. Believe. † The current slogan is representative of Sony’s commitment to reinvigorating the brand. It wasn’t until 2009 that Sony launched its first advertisement. Sony has used several celebrities in their marketing strategy in the past. To show how real 3D looked, Sony used Peyton Manning and Justin Timberlake targeting both sports fans and music fans alike. Slogans like Sony’s make consumers believe they are purchasing a product that is superior to others on the market and helps consumers to develop a deeper brand loyalty. To increase market share and awareness, Sony continues to use popular celebrities to endorse their products. From Taylor Swift to previously mentioned Justin Timberlake, Sony understands that targeting younger consumers leads to a deeper brand loyalty. Financial Projections In Quarter 2 of 2012, Sony slashed its financial forecast due to slow game sales and less than stellar sales of its new gaming system, the Playstation Vita. The original forecast was projected at 16 million units sold of both Vita and Playstation Portables worldwide. Today, Sony has cut that projection by a large amount, down to just 10 million units by March 2013, which will result in a total financial loss of $198 million Implementation Controls Implementation control is designed to assess whether the overall strategy should be changed in light of unfolding events and results associated with incremental steps and actions that implement the overall strategy. † After the security breach if Sony’s Playstation, Sony launched a â€Å"Welcome Back† campaign after countless customers private information was hacked. Sony presented customers with 4 new games to show their appreciate for their loyalty during the hacking. Summary Analysis Sony is diversified in the market both in consumer electronics and those for professional use; this leads to a tremendous opportunity for growth. Sony also focuses on a wide variety of products from cameras to gaming systems, which could lead to domination of the consumer electronics market. Sony however, is not doing very well in marketing their products to the consumer. They are too diversified in comparison to successful companies such as Apple, who stick to a few products in the same realm and have created tremendous customer loyalty over the years. Sony seems to be confused on what to do, whether to be in consumer electronics or marketing towards professional markets. Sony should focus on one market in order to gain profits and develop a stronger following. How to cite Sony Marketing Plan, Essay examples

Adam Smith Essay Example For Students

Adam Smith Essay Adam Smith, a brilliant eighteenth-century Scottish political economist, had the advantage of judging the significance ol colonies by a rigorous examination based on the colonial experience of 300 years. His overview has a built-in bias: he strongly disapproved of excessive regulation of colonial trade by parent countries. But his analysis is rich with insight and remarkably dispassionate in its argument. Adam Smith recognized that the discovery of the New World not only brought wealth and prosperity to the Old World, but that it also marked a divide in the history of mankind. The passage that follows is the work of this economic theorist who discusses problems in a language readily understandable by everyone. Adam Smith had retired from a professorship at Glasgow University and Was living in France in 1764-5 when he began his great work, The Wealth of Nations. The book was being written all during the years of strife between Britain and her colonies, but it was not published until 1776. In the passages which follow, Smith points to the impossibility of monopolizing the benefits of colonies, and pessimistically calculates the cost of empire, but the book appeared too late to ave any effect upon British policy. Because the Declaration of Independence and The Wealth of Nations, the political and economic reliations of empire and mercantilism, appeared in the same year, historians have often designated 1776 as one of the turning points in modern history. The text On the cost of Empire, the eloquent exhortation to the rulers of Britain to awaken from their grandiose dreams of empire, is the closing passage of Smiths book. Adam Smith was a Scottish political economist and philosopher. He has become famous by his influential book The Wealth of Nations (1776). Smith was the son f the comptroller of the customs at Kirkcaldy, Fife, Scotland. The exact date of his birth is unknown. However, he was baptized at Kirkcaldy on June 5, 1723, his father having died some six months previously. At the age of about fifteen, Smith proceeded to Glasgow university, studying moral philosophy under the never-to-be-forgotten Francis Hutcheson (as Smith called him). In 1740 he entered Balliol college, Oxford, but as William Robert Scott has said, the Oxford of his time gave little if any help towards what was to be his lifework, and he relinquished his exhibition in 1746. In 1748 he egan delivering public lectures in Edinburgh under the patronage of Lord Kames. Some of these dealt with rhetoric and belles-lettres, but later he took up the subject of the progress of opulence, and it was then, in his middle or late 20s, that he first expounded the economic philosophy of the obvious and simple system of natural liberty which he was later to proclaim to the world in his Inquiry into the Nature and Causes of the Wealth of Nations. About 1750 he met David Hume, who became one of the closest of his many friends. In 1751 Smith was appointed professor of logic at Glasgow university, ransferring in 1752 to the chair of moral philosophy. His lectures covered the field of ethics, rhetoric, jurisprudence and political economy, or police and revenue. In 1759 he published his Theory of Moral Sentiments, embodying some of his Glasgow lectures. This work, which established Smiths reputation in his own day, is concerned with the explanation of moral approval and disapproval. His capacity for fluent, persuasive, if rather rhetorical argument is much in evidence. He bases his explanation, not as the third Lord Shaftesbury and Hutcheson had done, on a special moral sense,nor, like Hume, to any decisive xtent on utility,but on sympathy. There has been considerable controversy as how far there is contradiction or contrast between Smiths emphasis in the Moral Sentiments on sympathy as a fundamental human motive, and, on the other hand, the key role of self-interest in the The Wealth of Nations. In the former he seems to put more emphasis on the general harmony of human motives and activities under a beneficent Providence, while in the latter, in spite of the general theme of the invisible hand promoting the harmony of interests, Smith finds many more occasions for pointing out cases of conflict and of the narrow elfishness of human motives. Smith now began to give more attention to jurisprudence and political economy in his lecture and less to his theories of morals. An impression can be obtained as to the development of his ideas on political economy from the notes of his lectures taken down by a student in about 1763 which were later edited by E. Cannan (Lectures on Justice, Police, Revenue and Arms,1896), and from what Scott, its discoverer and publisher, describes as An Early Draft of Part of The Wealth of Nations, which he dates about 1763. At the end of 1763 Smith obtained a lucrative post as tutor to the young duke of Buccleuch and resigned his professorship. From 1764-66 he traveled with his pupil, mostly in France, where he came to know such intellectual leaders as Turgot, DAlembert, AndrMorellet, Helvtius and, in particular, Francois Quesnay, the head of the Physiocratic school whose work he much respected. On returning home to Kirkcaldy he devoted much of the next ten years to his magnum opus, which appeared in 1776. In 1778 he was appointed to a comfortable post as commissioner of customs in Scotland and went to live with his mother in Edinburgh. He died there on July 17, 1790, after a painfull illness. He had pparently devoted a considerable part of his income to numerous secret acts of charity. Shortly before his death Smith had nearly all his manuscripts destroyed. In his last years he seems to have been planning two major treatises, one on the theory and history of law and one on the sciences and arts. The posthumously published Essays on Philosophical Subjects (1795) probably contain parts of what would have been the latter treatise. The Wealth of Nations has become so influential since it did so much to create the subject of political economy and develop it into an autonomous systematic discipline. In the western world, it is the most influential book on the subject ever published. When the book, which has become a classic manifesto against mercantalism, appeared in 1776, there was a strong sentiment for free trade in both Britain and America. This new feeling had been born out of the economic hardships and poverty caused by the war. However, at the time of publication, not everybody was convinced of the advantages of free trade right away: the British public and Parliament still clung to mercantilism for many years to come (Tindall and Shi). However, controversial views have been expressed as to the xtent of Smiths originality in The Wealth of Nations. Smith has been blamed for relying too much on the ideas of great thinkers such as David Hume and Montesquieu. Nevertheless, The Wealth of Nations was the first and remains the most important book on the subject of political ecomomy until this present day. It has never, I think, been the good fortune of any founder of a scientific system to think out to the very end even the more important ideas that constitute his system. The strength and lifetime of no single man are sufficient for that. It is enough if some few of the ideas which have to play the chief art in the system are put on a perfectly safe foundation, and analysed in all their ramifications and complexities. It is a great deal if, over and above that, an equal carefulness falls to the lot of a few other favoured members of the system. But in all cases the most ambitious spirit must be content to build up a great deal that is insecure, and to fit into his system, on cursory examination, ideas which it was not permitted him to work out. We must keep these considerations before us if we would rightly appreciate Adam Smiths attitude towards our problem. Adam Smith has not overlooked the problem of interest; neither has he worked t out. He deals with it as a great thinker may deal with an important subject which he often comes across, but has not time or opportunity to go very deeply into. He has adopted a certain proximate but still vague explanation. The more indefinite this explanation is, the less does it bind him to strict conclusions; and a many-sided mind like Adam Smiths, seeing all the many different ways in which the problem can be put, but lacking the control which the possession of a distinct theory gives, could scarcely fail to fall into all sorts of wavering and contradictory expressions. Thus we have the peculiar phenomenon that, while Adam Smith has not laid down any distinct theory of interest, the germs of almost all the later and conflicting theories are to be found, with more or less distinctness, in his scattered observations. We find the same phenomenon in Adam Smith as regards many other questions. The line of thought which seems to commend itself principally to him as explaining natural interest occurs in very similar language in the sixth and eighth chapters of book i of the Wealth of Nations. It amounts to this, that there must be a profit from capital, because otherwise the capitalist would have o interest in spending his capital in the productive employment of labourers. (1*) General expressions like these have of course no claim to stand for a complete theory. (2*) There is no reasoned attempt in them to show what we are to represent as the actual connecting links between the psychological motive of the capitalists self-interest and the final fixing of market prices which leave a difference between costs and proceeds that we call interest. But yet, if we take those expressions in connection with a later passage,(3*) where Smith sharply opposes the future profit that rewards the resolution of the capitalist to the present enjoyment of immediate consumption, we may recognise the first germs of that theory which Senior worked out later on under the name of the Abstinence theory. In the same way as Adam Smith asserts the necessity of interest, and leaves it without going any deeper in the way of proof, so does he avoid making any systematic investigation of the important question of the source of undertakers profit. Homeless Research EssayThe workers discontent with his small share is not lessened, as it used to be in the case of the handicraft assistant, by the expectation of himself in time enjoying the lions share; for, under large production, the worker has no such expectation. On the contrary, his discontent is aggravated by the knowledge that o him, for his scanty wage, falls the harder work; while to the undertaker, for his ample share in the product, falls the lighter exertion-often enough no personal exertion whatever. Looking at all these contrasts of destiny and of interest, if there ever came the thought that, at bottom, it is the workers who bring into existence the products from which the undertaker draws his profit and Adam Smith had come wonderfully near to such a thought in many passages of his widely read book it was inevitable that some pleader for the fourth estate should begin to put the same question with regard to natural interest as ad been put many centuries earlier, by the friends of the debtor, with regard to Loan interest, Is interest on capital just? Is it just that the capitalist- undertaker, even if he never moves a finger, should receive, under the name of profit, a considerable share of what the workers have produced by their exertions? Should not the entire product rather fall to the workers? The question has been before the world since the first quarter of our century, at first put modestly, then with increasing assertiveness; and it is this fact that the interest theory has to thank for its unusual and lasting itality. So long as the problem interested theorists alone, and was of importance only for purposes of theory, it might have slumbered on undisturbed. But it was now elevated to the rank of a great social problem which the science neither could nor would overlook. Thus the inquiries into the nature of Natural interest were as numerous and solicitous after Adam Smiths day as they had been scanty and inadequate before it. It must be admitted that they were as averse as they were numerous. Up till Adam Smith the scientific opinion of the time had been represented by one single theory. After him opinion was divided into a number of theories conflicting with each other, and remaining so with rare persistence up till our own day. It is usually the case that new theories put themselves in the place of the old, and the old gradually yield the position. But in the present case each new theory of interest only succeeded in placing itself by the side of the old, while the old managed to hold their place with the utmost stubbornness. In these circumstances the course of development since Adam Smiths time presents not so much the picture of a progressive reform as that of a schismatic accumulation of theories. The work we have now before us is clearly marked out by the nature of the subject. It will consist in following the development of all the diverging systems from their origin down to the present time, and in trying to form a critical opinion on the value, or want of value, of each individual system. As the development from Adam Smith onwards simultaneously pursues different lines, I think it best to abandon the chronological order of statement which I have hitherto observed, and to group together our material according to theories. To this end I shall try first of all to make a methodical survey of the hole mass of literature which will occupy our attention. This will be most easily done by putting the characteristic and central question of the problem in the foreground. We shall then see at a glance how the theory differentiates itself on that central question like light on the prism. What we have to explain is the fact that, when capital is productively employed, there regularly remains over in the hinds of the undertaker a surplus proportional to the amount of this capital. This surplus owes its existence to the circumstance that the value of the goods produced by the assistance of apital is regularly greater than the value of the goods consumed in their production. The question accordingly is, Why is there this constant surplus value? To this question Turgot had answered, There must be a surplus, because otherwise the capitalists would employ their capital in the purchase of land. Adam Smith had answered, There must be a surplus, because otherwise the capitalist would have no interest in spending his capital productively. Both answers we have already pronounced insufficient. What then are the answers given by later writers? At the outset they appear to me to follow five different lines. One party is content with the answers given by Turgot and Smith, and stands by them. This line of explanation was still a favourite one at the beginning of our century, but has been gradually abandoned since then. I shall group these answers together under the name of the Colourless theories. A second party says, Capital produces the surplus. This school, amply represented in economic literature, may be conveniently called that of the Productivity theories. I may here note that in their later development we shall find the productivity theories splitting up into many varieties; into Productivity theories in the narrower sense, that assume a direct production of surplus on the part of capital; and into Use theories, which explain the origin of interest in the roundabout way of making the productive use of capital a peculiar element in cost, which, like every other element of cost, demands compensation. A third party answers, Surplus value is the equivalent of a cost which enters as a constituent into the price, viz. abstinence. For in devoting his capital to production the capitalist must give up the present enjoyment of it. This postponement of enjoyment, this abstinence, is a sacrifice, and as such s a constituent element in the costs of production which demands compensation. I shall call this the Abstinence theory. A fourth party sees in surplus value the wage for work contributed by the capitalist. For this doctrine, which also is amply represented, I shall use the name Labour theory. Finally, a fifth party for the most part belonging to the socialist side answers, Surplus value does not correspond to any natural surplus whatever, but has its origin simply in the curtailment of the just wage of the workers. I shall call this the Exploitation theory. These are the principal lines of explanation. They are certainly numerous enough, yet they are far from exhibiting all the many forms which the interest theory has taken. We shall see rather that many of the principal lines branch off again into a multitude of essentially different types; that in many cases elements of sever theories are bound up in a new and peculiar combination; and that, finally, within one and the same theoretical type, the different ways in which common fundamental thoughts are formulated, are often so strongly contrasted and so characteristic that there would be some justification in recognising individual shades of difference as separate theories. That our rominent economic writers have exerted themselves in so many different ways for the discovery of the truth is an eloquent witness of its discovery being no less important than it is hard. We begin with a survey of the Colourless theories. NOTES: 1. In exchanging the complete manufacture either for money, for labour, or for other goods, over and above what may be sufficient to pay the price of the materials and the wages of the workmen, something must be given for the profits of the undertaker of the work, who hazards his stock in the adventure. He could have no interest to employ them unless he expected from the sale of their ork something more than what was sufficient to replace his stock to him; and he could have no interest to employ a great stock rather than a small one unless his profits were to bear some proportion to the extent of his stock (MCullochs edition of 1863, p. 22). The second passage runs: And who would have no interest to employ him unless he was to share in the produce of his labour, or unless his stock was to be replaced to him with a profit (p. 30). 2. See also Pierstorff, Lehre vom Unternehmerggwinn, Berlin, 1875, p. 6; and Platter, Der Kapitalgewinn bei Adam Smith (Hildebrands Jahrbcher, vol. xv. p. 317, etc. ) 3. Book ii. chap. i. p. 123, in MCullochs edition. 4. When Plater in the essay above mentioned (p. 1) comes to the conclusion that, if Smiths system be taken strictly, profit on capital appears unjustifiable, it could only be by laying all the weight on the one half of Smiths expressions, and leaving the other out of account as contradictory to his other principles. 5. Book ii. chap. iii. 6. Book i. chap. vi. The sentence was written primarily about landowners, but in the whole chapter interest on capital and rent of land are treated as parallel s against wages of labour. The Invisible Hand Adam Smith first described this principle . Since that time it has become the basis of the concept of the free market. Self Regulating prices Consider glove manufacturers. If a glove manufacturer were to raise his prices on his gloves way above his costs, a competitor with lower prices on gloves would receive all of the orders for gloves. If all of the glove manufacturers were to raise their prices way above their costs, someone else would begin to manufacture gloves and sell them at a price closer to the manufacturing costs. This competiti