Herd Behavior Bubbles And Crashes Essay Example

Herd Behavior Bubbles And Crashes Essay Example Herd Behavior Bubbles And Crashes Essay Herd Behavior Bubbles And Crashes Essay Above average returns are reflected in a generally more optimistic attitude that fosters the disposition to overtake others bullish beliefs and viscera. This economic influence makes bubbles transient phenomena and leads to repeated fluctuations around fundamental values. For a long time, the thinking about the functioning of stock markets in the economics profession was dominated by the Efficient Market Hypothesis (MME). Recent empirical investigations as well as factual developments have, however, eroded the trust in a theory which denies the existence of any systemic deviations of stock prices from their fundamental values. From the empirical side, one of the most discussed facts that gives rise to doubts in the verbal efficiency of stock marketers the finding that stock prices exhibit more volatility than fundamentals or expected returns do. The volatility debate has recently been summarized and evaluated by West (iii). He finds evidence in favor of the excess volatility hypothesis to be persuasive and states that it cannot be explained adequately by standard models of expected returns or rational bubbles. Being not compatible with the random walk models suggested by the MME, the finding of excess volatility points to intrinsic dynamic forces of speculative markets not related to fundamental factors. In his conclusion West, therefore,suggests that it might be necessary consider non-standard models focusing on fads and sociological or psychological mechanisms. A related empirical finding is the recent evidence on mean- reversion in asset prices (e. G. Potherb and Summers, 1988, and references therein). Technically, this means that there is positive autocorrelation over short horizons and negative autocorrelation over longer intervals in the data. A possible explanation is speculative overshooting of the price trend which is gradually eliminated beyond some range. Potherb and Summers, too, repose fads models to understand this regularity. The case for behavioral models Of financial markets was already made emphatically by Sheller (iii), where also some hints are given concerning relevant material in other sciences. Another important author to be mentioned here is Kindergarten (1989). Throughout his penetrating book he highlights the importance of psychological factors and * Earlier versions of this paper were presented in seminars at the Universities of Bamberger, Fielded, Cologne and Munich. I would like to thank Carl Carmella, Reins Franken, Max Hobble, Alexander Henderson, Lurch Meyer, Caravans Garnishment, Michael Schmidt, Hans-Werner Sin, Rajah Seth and especially Charles Kindergarten for helpful discussions, comments, and suggestions. The perceptive comments and suggestions of the referees are also gratefully acknowledged. Iii ] 882 THE ECONOMIC JOURNAL irrational factors in explaining historical financial crises. L Following these authors, the aim in this paper is to construct an elementary model of stock market dynamics which explicitly includes contagion of opinion and behavior and to offer a behavioral explanation for the empirical findings discussed above. Of course, the search for a theory which includes some kind Of non-rational behavior has not gone unrecognized by economic and financial theorists and a new paradigm began gradually to arise in the past few years under the heading of noise trader models. This line of research is characterized by the introduction of traders which in some way deviate from a perfectly rational scheme of behavior. These agents appear as naive traders, noise traders or chartists. Some authors (Delano et al. 1990, 1991) assume that noise traders misperceive expected returns, others describe their behavior as following a impel feedback rule and study the resulting dynamics of the market (Day and Hang, 1990; connote and Leland, 1990; Carmella, 1992). The way in which this paper aims at contributing to this body of literature is that the psychological factors which influence the behavior Of unsophisticated traders will be modeled explicitly. This means that a formalism is introduced which describes the formation of expectations by those who are not fully informed about fundamentals. These expectations depend mainly (perhaps among other things) on the behavior and expectations of others. Thus, what will be modeled is the process of mutual mimetic contagion among speculators. The key mechanism is similar to that described in Karmas (1 993) recent formalizations recruitment ant populations, which Karma suggested to be also of relevance for the analysis of social dynamics in speculative markets. The mechanism introduced below seems to be also consistent with Topsoils (I 991) theory of mimetic contagion, where the agents try to trace out information about fundamentals from the bid and ask prices of others (who, however, may be as uninformed as they are themselves). The mechanics Of the contagion process are laid out in Section l. In Section II a more complete description of the market process is developed by adding a fundamentalist group of traders and deriving the dynamics of prices. Conditions are given under which contagion may lead to the existence of (positive or negative) bubbles, I. E. Stationary states where actual prices exceed fundamental values or are below them. Bull and bear markets are, however, not stationary in reality. Bubbles grow up and burst, and periods where assets are undervalued or overvalued do not last forever. So it seems to be more appropriate to model them as transient phenomena. Section Ill, therefore, develops a model where switches been bull and bear markets occur periodically. The reason for this oscillation is that we allow additional econometricians to influence the process of opinion formation. To be precise, a slowly changing optimistic or pessimistic bias is 1 The following quotation from the preface to the second edition seems to be characteristic his position: the dismissal of conventional explanations of historical events with the remark that they violate the assumptions of economic analysis [I. . Full rationality] is infuriating It is time that economics accept reality. Kindergarten, 1989, p. Xiii). K Royal Economic Society 1995 This content downloaded from 122. 170. 126. 130 on Moon, 9 Mar 2015 04:01 :50 1995] BEHAVIOR, BUBBLES AND CRASHES 883 added to the contagion process. This variable for the overall disposition of the market depends on the only hard information available to naive speculators: the development of their actual returns includin g capital gains. Hence, speculators are not simply blind followers of the crowd: they quickly react on others behavior in order not to miss profit opportunities, but they also try to find out whether prevailing optimism or pessimism has a firm grounding in he markets actual development. The consequence is that once the pool of additional buyers in a bull market is exhausted and price increases diminish a gradual erosion of confidence in the validity of bullish beliefs occurs. This ends with a crash, and the game is repeated with reversed signs. Section IV concludes and points to possible extensions of the present approach. AN ELEMENTARY FORMALIZATION OF CONTAGION The present section is mainly concerned with the determination of the behavior of those traders who do not have access to information about fundamental values. In the absence of any piece of such information they serially have to rely on what can be observed on the market as the only base of their actions. Though I do not intend to discuss h ere what kinds of behavior can be designated as rational, should emphasis that following others Opinion is not irrational as long as there is no other source of information (see Orleans (I 989) and Lectures (1 992) for intensive discussion). If we accept this extreme assumption as an accurate description of the information set of a considerable part of traders, then a first conclusion could be that a speculator will be more willing to buy (sell) if he sees most traders eying (selling). The reason is that others behavior may presumably be influenced by better information about future developments of the market and may thus reveal information. As already mentioned such conjectures may be false, but nevertheless may lead to self-reinforcing fluctuations. The underlying process of contagion will be formalized by referring to the concept of synergistic originally developed in elementary particle and laser physics (see e. G. Hake, 983) and applied to various problems from the social sciences by Woodlice and Hag (1983) among others. 3 Synergistic basically insists of a probabilistic, macroscopic approach to the analysis of the dynamics of multi-component systems with interactions among the units constituting the system. Infection of attitudes will now be made explicit: with a high portion of optimistic traders, it would be very probable that the few remaining, pessimistic ones would also change their attitude and buy stocks. The same is to be expected with reversed signs. Hence one may postulate probabilities exist for a pessimistic trader to become optimistic, say p+, and viscera,p,+. With contagion both probabilities should depend on the actual distribution of attitudes captured by the index x or the number n: = p_+(x) = p-+(n/N), p+_ = p+_(x) = p+_(n/N). Note that this formulation implies all other individuals influence one reticular speculator in the same way. This excludes the existence of financial gurus whose statements attract exceptional attention by others. Another simplifying assumption is that every individual may change his opinion only once at any one time. Assuming furthermore that the transition probabilities are the same for all actors and considering a large population of speculators the number of actual transitions from one subgroup to the other (I. E. Teens n+ and n_) can be approximated by the product members of subgroup times probability to change to another subgroup. Thus, the change n the composition of the population of naive speculators can be determined in the following way: those who are pessimistic turn to an optimistic attitude with probability p+,. Consequently, we expect a fraction n_p+- to switch from the n _ to the n+group. Vice versa, with the probability p+ a bullish speculator is infected with a nega tive disposition implying that approximately a fraction n+p+ of this population will change their trading strategy.

Reflective evaluation of your teaching with recommendations Assignment

Reflective evaluation of your teaching with recommendations - Assignment Example Nursing is a sub-branch of medicine and hence requires students to be cautious and ready to handle emergencies in the health institution. The work load can be overwhelming for students in the nursing profession. It is, therefore, crucial that students should be well armed with knowledge on how to handle pressure in the work setting. The proficiency of a student in any profession reflects back to the tutor. This is the reason why teachers should be in a better position to transfer knowledge to students to enhance their ability to take care of patients. As mentioned, nursing is associated with saving of human lives, and this is the reason why a lot of caution should be taken when dealing with students in the profession. It should be made sure that the students are well behaved and disciplined because dealing with human lives is extremely sensitive. It is important for teachers to discourage behaviours that show a negative attitude in the profession of nursing. Intoxication by the abuse of drugs and alcohol are some of the prevalent behaviours with students at the college level. These behaviours should not be tolerated because once students in medicine engage in such behaviour, the health safety of the patients would be at risk. Stringent measures should hence be put in place to ensure that students do not jeopardise the health status of patients in the health centres. The Significance of Managing Acute Post-Operative Pain The clinical environment is one of the most sensitive ones in many health care institutions. Post-operative pain is some of the acute problems that face patients who are from surgical operations (Archer, Levy, & McGregor, 1993). Teachers should hence take initiative of ensuring that the students have the necessary knowledge and skills of handling acute post-operative pain in patients. This would ensure that the welfare of the patients is given priority. Surgical patients may face a lot of complications and this is the reason why students should be ready to handle such complications. The management of post-surgical pain is essential because it might be very severe and hence affect the health status of the patient. As a teacher, one should initiate highlighting the importance of managing acute post-operational pain. One of the strategies that should be involved in the teaching practice would be to give the negative impacts of this pain (Brown, Christo, & Wu, 2004). One of the negative impacts of acute post-operative pain is increased mortality or morbidity. Once students know that this pain can place the patient’s life at risk, the students would be ready to learn the different courses of action that should be taken in handling the pain. From medical research studies, surgery is known to suppress the immune system of the patient (V. Bullough & B. Bullough, 1999). This implies that the patient is more prevalent to opportunistic infections, hence high chances of mortality. With this knowledge, teachers should go the ext ra mile and provide a variety of corrective courses of action to safeguard the health status of the patient. One of the control strategies that should be proposed by the teachers is analgesia. Effective analgesia can counter the negative effects of acute post-operational pain. There is a variety of medications that should be administered to the patient. The teacher in charge of the students

Interpersonal and Intrapersonal Skills Essay Example | Topics and Well Written Essays - 2000 words

Interpersonal and Intrapersonal Skills - Essay Example In addition to LSP, I intend to rely on learning cycle by Kolb (1984)to know how I can learn from experience and involve myself in reflective a reflective practice. In the second part of this portfolio, I will focus on a Critical Incident that I noticed in my group. The experience made me realise how group conflict is detrimental if, not checked. However, while conflict impacts negatively on productivity, recent studies shows that conflict can improve team effectiveness, if managed constructively (Amason, Hochwarter, Thompson, & Harrison, 1995). As suggested by Peppas (2006), social and cultural considerations affect the workplace environment and as such, I will discuss their impact on my intrapersonal and interpersonal effectiveness. As a personality assessment tool LSP find its use in testing how effectively a person can learn. On the same note, sensation seeking on LSP is considered to elicit curiosity and the desire for exploration. This in turn, enables an individual to explore different learning opportunities. However, when the level of sensation seeking increases, this can lead to either functional or dysfunctional results. In this sense, a functional learner is in a position to re-express sensation seeking by relying on socio-cognitive construct such as conscientiousness. Conversely, learners experiencing a dysfunction find it difficult to re-express sensation seeking. Consequently, the outcome is undesirable and may include dismal performance of a task among other dysfunctions (O’Connor & Jackson, 2008). I believe that, in order to achieve my goal of becoming a successful marketer, operating, as a functional learner is important. From the results of my LSP, I had a higher level of sensation seeking, and this indicates that, I have a strong desire to explore new experiences that can improve my learning (Jackson, 2009). Further, my socio-cognitive constructs such as conscientiousness,

The Current Scenario And Its Causes Economics Essay

The Current Scenario And Its Causes Economics Essay INTRODUCTION: The current picture of the economic and financial state has caused a huge literature study evaluating its origin and how to respond with the pertinent strategy. Before going in depth let us discuss about general financial crisis [1] ( Charles,P et al 2005) . The situation can be termed as an economic crisis when a financial institution or an asset lose a large part of its value. It takes many factors into account when defining a global recession, but the International Monetary Fund  (IMF) states that general recession can be declared when the worldwide economic growth is 3 percent or less than that [12] (Rogoff,K.2002). FINANCIAL CRISIS- AN OVERVIEW: Financial crisis occurs when there is a sudden drop in market after a steady growth. It can be said that, it is the harbinger for the decline of market. Due to the volatility of the market and economic growth, this becomes the crux of the financial crisis. Stocks and real estate properties will reach the rock bottom after a period of growth. When the investors predict the market and invests in any sector, due to the market instability, the demand of that investment may decrease and their value of the estimation substantially diminishes. This trend follows a period and significantly investors huge investment does not return the expected revenue and this in turn affects their loan payment. They abruptly stop further investments and they begin to sell assets. [2] ( Aiginger,K. 2009) This trend persists in individuals private income too, they also follow the same practice by selling their assets and luxury objects. Over-optimistic companies and such individuals are the main cause for the crisis during the preceding economic growth epoch. They lean to believe that the general market growth will persists forever without any suspension. This optimism makes everyone to borrow colossal quantity of principal and invest them in homes, luxury objects and expansion of their business. Another cause are executives in banking companies tempted to lend out as much money as possible to the borrowers, regardless of the consequences for the bank and the borrowers, because this behavior gives the executives an enormous short term personal gain. When the supply decreased, the demand too got reduced. Hinder all the financial institution which lends out more money to the borrowers who pays back when they are comfortable [7]( carmassi et al, 2009). The government should interfere and has to lay proper regulations to set clear criteria that must be satisfied when the money lending process is done. Employment contrac ts for the bank executives should be forbidden by the bank which rewards them directly for the amount of mortgages they establish. When did it happen? The global financial crisis hit when there is a blooming economic trend persists. It happened in number of occasions, but the Great depression (1930) and the current financial crisis (2007-2010) are the core calamities which collapsed the global economy. [1] ( Charles,P et al 2005) THE CURRENT SCENARIO AND ITS CAUSES: The current financial crisis period started during 2007. It is the worst economic meltdown since the Great depression. The collapse of the US sub-prime mortgage market and the housing boom turnaround had a ripple effect around the world. Some financial goods and tools have become so difficult and abnormal, and things start to disentangle. The trust in the whole system started to fail. The origin of this present state is due to the extravagant lending of money by banks which permitted various groups to buy expensive assets that they could not afford. This was welcomed and encouraged by the politicians and was cleverly sold by the middle men. This created the trigger for the current scenario [9] ( Cooper,G. 2008) .The survival of excessive land use regulation which helped to drive up the prices. Innovations and internationalization are also cause for the regulation failure. Oligopoly structures in the agencies, insufficient regulation followed in the market, neglected cumulative system ic risks are the additional grounds involved in this trigger. Heterogeneity of profits across businesses, novel forms of equity standards, leveraging of banks, the firms and consumers are the factors which caused misinterpretation that the expected returns will be high. Bubbles in currency, oil and food shortages, short-term view on profits, inappropriate accounting rules and analysts reports, shortages of raw materials, energy deficit and unequal income and wealth distribution are the other aggravating factors which influenced the crisis [7]( carmassi et al, 2009). Consequently the demand decreased as the supply increased. This forms the nucleus of the present crisis. EFFECTS: As a result of this, unemployment increases and companies lay-off the employers in order to muddle through this recession, many banks filed bankruptcy and shortage of food supply too had its effects. The Gross domestic product (GDP) of the world declined for the first time since the Great depression of 1930. World economy growth dropped from 5% in 2007 to 3 % in 2008. USA and Europe economies already shrank during 2008 last quarter and those GDP from 2% to 4% [2] ( Aiginger,K. 2009). During the first quarter of 2009 production and orders declined when compared to the previous years. In order to compensate the cutback in the stipulated private sector caused by the crisis, the government passed large fiscal stimulus. During 2008-2009 alone US implemented two stimulus packages, totaling nearly $1 trillion [3] [2] ( Aiginger,K. 2009). The government has also bailed out many organizations due to large financial obligations. About 70% of GDP growth attained in the euro area and 40% of the same in the US due to the financial sector leverage [7]( carmassi et al, 2009). This is the key issues for the prevalent pressure in the European banking system. United States may be precursor of this current scenario, but the fragility persists in the European financial sector caused them badly and exposed to losses from US assets. An additional feature that made Europe more exposed to the crisis situation like the US is asset price bubble [7]( carmassi et al, 2009). Europe experienced the same real estate price bubble. During 2006-2007 house prices are less in US when compared to Europe, this is the key distinction involving the United States and the Europe [7]( carmassi et al, 2009). The banks in United States and Europe had excessive leverage and also the renovated maturity which are mistakenly manipulated by the regulatory system and allowed by the monetary policy. AGE WAVE THEORY: The additional cause for this economic slowdown was given by Ken Dychtwald, Ph.D in his Age wave theory [4] (Dychtwald, Ken, 1989). According to him, the persons who were born during 1947 to 1966 are called as baby boomers. According to the statistics the economic trend suitably followed as the baby boomers grow. Baby care books sales recorded a high during those initial years. Baby foods were consumed more during 1950s. The toy industry sales also reached record growth as the children grows. When they reached the teenage soft drinks sales and movie tickets sales reached the maximum. When the boomers enter the workforce during 1970s there was a record growth of 29%. Mini vans and SUVs dominated the automobile industry during 1980s and 1990s as the baby boomers started to raise their families. During 2007-2009 the workforce growth is just 12% due to the retirement of the baby boomers , and this may also be one of the reasons which kindled the crisis [5] (Dychtwald, Ken et al 2006). FUTURE REMEDIES: In order to tackle future recession, the UK government needs to follow some regulations. The economic policy should support the total demand by increasing the public demand or by providing inducements to encourage private expenditure [2] ( Aiginger,K. 2009). Monetary policy should be reintroduced to increase the money supply which has reduced interest rates. To improve the structure of taxation, fiscal policy is to be followed. It includes national and international stimulus packages. The European model to be followed [2] ( Aiginger,K. 2009), it includes strategic spending i.e., to invest in future technologies, education, research and development and green technology. Government and financiers should try to compress the scam and increase the capital requirements for banks .They also should follow the regulations and it would be compelled to hold sufficient funds to cover their normal operations. In order to reduce the jeopardy, the bank should bear all the risks and also increase their transparency, their accounting ethics are to be modified accordingly and also to be included in the asset definition. It is crucial that the current land rationing policies should wither as soon as possible. Capital requirements are to be set adequately so that it cannot be evaded by the mediators to raise liquidity [8] (Minsky, H. (2008) .The simple way of doing it is to set capital requirements with reference to total assets and no gimmicks allowed. The main cause for the delude information for investors and obstinate incentives are the assets with maximum risk. [6] (Gros, D. (2009). These assets should be scrapped to maintain the economy. The government should provide guarantees by affording small pensions and loans and also it should fight poverty by employment. The youth unemployment problem can be tackled by training and also making informal jobs more professional. By increasing the choices the supply and demand stability can be maintained. These aforementioned strategies are to be followed by the UK government in order to maintain the stability and also to prevent the arrival of the current scenario [10] (Greenspan ,A. 2009). CONCLUSION: Brian Cowen, the former finance minister says that, If I am right, the next financial crisis, when it comes, stands to make the last two years look like a warm up [11]. So the optimism and complacency natures should be discarded and follow the policies and also the remedies as mentioned above to restore the trust and balance in the system.

Diana of the Crossways: A Novel :: Free Essays Online

Diana of the Crossways: A Novel Before reading Diana of the Crossways it is important to understand the facts surrounding the life of George Meredith, as corresponding elements can be found in many of his works. George Meredith was born on February 12, 1828 in Portsmouth. During his early years he faced several accounts of hardship. His mother died when he was hardly five years of age. Shortly after her death, George Meredith's father, Augustus, inherited a failing business and heavy debts from his own father. Augustus was forced to declare bankruptcy and travel to London to earn a living, leaving young Meredith in the care of relatives. At age fifteen, Meredith attended the Moravian school at Neuwied on the Rhine. He remained there for less than two years accounting for his only formal education. Meredith was apprenticed to Richard Stephen Charnock who introduced Meredith to his literary circle of friends. Among them were Edward Peacock and his sister Mary Ellen Nicolls. Mary Ellen Nicolls can be described as havi ng lively intelligence and wit. This seems to characterize many of Meredith's heroines. They married in 1849, but they had very little success as a couple. Since they were both intelligent and demanding they desired more from the relationship. In 1858 Mary Ellen Nicolls eloped with artist Henry Wallis ending her relationship with Meredith. From here, Meredith married his second wife Marie Vulliamy who was the contrast of Mary Ellen Nicolls. She was a very practical, domestic woman who was a good hostess and housekeeper. It is quite ironic that Meredith would desire a helpmeet relationship when all of his works surround the independent, headstrong woman. Meredith was an energetic man who would frequently toss around a weight nicknamed "the beetle" for exercise. In the 1870's Meredith began to develop symptoms of locomotor ataxia, which crippled him. In 1892 Meredith was elected president of The Society of Authors, a position that was previously held by Alfred Lord Tennyson. In 1905 h e was awarded the Order of Merit. Over the years, Meredith became increasingly disabled and deaf before passing away on May 18, 1909 (Casal, The Victorian Web). During his lifetime Meredith produced fifteen novels, eight poetry collections, and countless minor works; most of which are out of print today. His best work is characterized by brilliant insights, carefully chosen diction, and powerful imagery. Diana of the Crossways is rich and interesting with realistic characters that come alive for the reader.

In times of war one of the casualties is truth Essay

The word war to many people conjures up images of death and destruction and this is shown in the two poems, ‘Dulce et decorum est’ and ‘Disabled’. Wilfred Owen, who was a solider and experienced war first hand, wrote both of the poems, he did this from personal experience. In Both poems a negative view is portrayed, by describing the pain, suffering and the general consequences of war. The message he is trying to put across by writing these poems is that war is bloody, a waste of life and may leave you in a horrific state. The aim of the poet is to warn people of what war is all about: mainly death. On the other hand, war can also be shown as being honourable, heroic and patriotic, we know this from the poems ‘The Volunteer’ and ‘In Flanders Fields’. The poem ‘The Volunteer’ was written by a man called Herbert Asquith who was a politician and his aim was to get people to sign up and volunteer them selves to go to war, so his poem gives off a positive view of war. Herbert Asquith, in his poem, says that you will become a hero if you go to war and although you may die it is worthwhile because your country will be proud. These words create the positive view that Herbert Asquith was aiming for. A Canadian called John McCrae is the author of the poem ‘In Flanders Fields’. John was a military medical officer and viewed war from the sidelines and got a positive view from what he saw. His message is to other soldiers to tell them they must be brave and fight with pride or the soldiers who died previously will feel they have wasted their lives fighting. The poems differ a lot from each other as they create different images of war and disagree with each other. Two of the poems mention the good side of war, whereas the other two, shows the bad side of war. All four poems represent the truth in one way or another as War has many truths. The authors of the four poems are motivated by their different relevant experiences of the things they were doing during the war. Owens’ experiences on the front line in the battlefield influenced him to write the poem ‘Disabled’ as he witnessed the many casualties of war, also his poem ‘Dulce et decorum est’ describes the horrific conditions soldiers had to live and fight under during the war. Asquith, not being a solider himself, but a politician didn’t really understand what it would be like to experience war but it was his duty to persuade people to sign up and therefore this influenced his poem. John McCrae was only a medical officer but he saw the pain and suffering of the soldiers. He took this to be a good sign as it shows a result of being brave and fighting for your country. Wilfred Owen in both his poems wants the readers to feel moved by the message they portray and does this by using emotive language and emphasis. Owen also hopes that his poem will make people consider the consequences of war before volunteering. On the opposite side, Herbert Asquith wants the readers to be taken in by his poem, which describes being in the army as essential and honourable, something that Owen does not appear to agree on. John McCrae makes the readers feel mournful for those who died but also that they died as a duty to their country. The structures and tones of these poems are different. â€Å"In Flanders Fields† is concise but to the point. Whereas â€Å"Disabled† and â€Å"Dulce et Decorum est† are long and descriptive, the tone of these two poems is very serious, depressing and shocking. â€Å"The Volunteer† is short and persuasive. All of the poems have strong description of war and create powerful images, whether they are good or bad. From the two poems â€Å"disabled† and â€Å"Dulce et Decorum est† we can get images of bloody deaths and horrific consequences. â€Å"Disabled† tells us about a young man who went to war to serve his country, became a hero but suffered severely from it; He ended up in a wheel chair and has no future ahead of him. â€Å"Dulce et Decorum est† however describes war conditions in detail and paints a dreadful picture in our heads, using description such as â€Å"the froth-corrupted lungs† and â€Å"blood-shod†. Death is discussed in all 4 poems, but more evidently in Wilfred Owens’ work. In â€Å"the Volunteer† Herbert Asquith tells of man who is dull and seems to carry out the same duties day after day â€Å"Half his life had spent toiling†. Asquith then goes on to describe the glorious lifestyle of the man when he as became a soldier, implying that joining the army is a way of escaping a dull and boring life. In this poem and â€Å"In Flanders Fields† death is described in a soft way by using the word â€Å"falling† and terms such as â€Å"now we lie†. Emotions run high in all of the poems, contrasting happiness and fear. I agree with Owen’s view on war, it is dreadful and a waste of time. There are more consequences than you can imagine, why put yourself through War, the glory is minimum. â€Å"The Volunteer† is a reflection of my down side of war, as I don’t think people should be encouraged to go to war, although I do understand that people have to fight for their country.

North Americ The World For Its Excellent Professional Sports

Layne Greeson Introduction North America is known around the world for its excellent professional sports. Athletes from around the world come to the North America with the dream of becoming a professional athlete in their respective sport. Organized professional baseball in North America was developed in 1876 with the creation of the American League (AL). In 1901 the National League (NL) was formed in order to compete with the AL hence Major League Baseball (MLB) was born. From 1901 till now Major League Baseball has grown into a multi-billion dollar industry consisting of 30 MLB teams residing primarily in the United States with one team in Canada. The AL consists of 15 teams split into three separate divisions. The NL also consists of 15 teams split into three separate divisions. MLB teams compete in a 162 game season in order to determine which 10 teams, five from each league, will compete in an end of the season tournament and have a chance to win a World Series which is the most prestigious award an MLB t eam can accomplish. With this goal in mind MLB teams attempt to hire world class athletes in order to produce a winning team which in turn generates revenue. Baseball is statistical driven sport more than any other because the game is structured in a way that allows for easy comparison of players performance through the use of statistical aspects. Baseball teams pay athletes based on their statistical performance such as the number of homeruns they hit, the number of