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50 of 74 results found for - "wikipedia.org"  
[Quote No.40490] Need Area: Mind > Learn
"[A free media is vital to the success of a democracy. This is because if there is not accurate, timely information, for example propaganda or deliberate or inadvertent misinformation or media blackouts, individuals do not have the facts to make informed choices and vote in their best interests. The media, sometimes called the 'Fourth Estate', is well aware of their responsibilities to perform this task in a free, democratic society and most country's media organisations include this reponsibility in their training and Code of Ethics.] The estates of the realm, originally conceptualised by Montesquieu, are sectors of the community that have power to influence the policy-making process within a society. They are usually seen as the executive - previously the clergy (First Estate), the legislative - previously the nobility (Second Estate), the judicial - previously the middle class commoners (Third Estate), and the mainstream press (Fourth Estate). There is also the less common concept of a fifth estate which has no fixed meaning, but is used to describe any class or group in society other than the previous four estates. It has been used to describe trade unions, the poor, the proletariat, media outlets, including the blogosphere, that see themselves in opposition to mainstream media (the official Press) and 'networked individuals'. It should not be confused with a 'Fifth Column', which has been used to describe subversive or insurgent elements in a society. It got this name from a 1936 radio address by Emilio Mola, a Nationalist General during the 1936–39 Spanish Civil War. As his army approached Madrid, a message was broadcast that the four columns of his forces outside the city would be supported by a 'fifth column' of his supporters inside the city, intent on undermining the Republican government from within." - Wikipedia.org
[http://en.wikipedia.org/wiki/Fifth_Estate ] [http://en.wikipedia.org/wiki/Fifth_Column ]
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[Quote No.46052] Need Area: Mind > Learn
"[Often one of the best ways to learn, grow and evolve is through having a bad experience. Psychology calls this PTG - post traumatic growth.] Post-traumatic growth refers to positive psychological change experienced as a result of the struggle with highly challenging life circumstances. These sets of circumstances represent significant challenges to the adaptive resources of the individual, and pose significant challenges to individuals' way of understanding the world and their place in it. Post traumatic growth is not simply a return to baseline from a period of suffering; instead it is an experience of [learning and] improvement that for some persons is deeply meaningful." - Wikipedia.org
[http://en.wikipedia.org/wiki/Posttraumatic_growth ]
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[Quote No.66043] Need Area: Mind > Learn
"[The search for truth - and thereby understanding, control and power - in individuals, society and nature:] Epistemology (from Greek episteme, meaning 'knowledge', and -logy) is the branch of philosophy concerned with the theory of knowledge [TOK]. Epistemology is the study of the nature of knowledge, justification, and the rationality of belief. Much debate in epistemology centers on four areas: (1) the philosophical analysis of the nature of knowledge and how it relates to such concepts as truth, belief, and justification, (2) various problems of skepticism, (3) the sources and scope of knowledge and justified belief, and (4) the criteria for knowledge and justification. Epistemology addresses such questions as: 'What makes justified beliefs justified?', 'What does it mean to say that we know something?', and fundamentally 'How do we know that we know?'." - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Epistemology ]
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[Quote No.69158] Need Area: Mind > Learn
"[Big History - history from the beginning of time and the universe through to the present and on into the future with your life's contribution and beyond; progress; futurology; futurist; science and science-fiction:]

Futures studies, futures research, futurism or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends, often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies (colloquially called 'futures' by many of the field's practitioners) seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.

... Futurology is an interdisciplinary field that aggregates and analyzes trends, with both lay and professional methods, to compose possible futures. It includes analyzing the sources, patterns, and causes of change and stability in an attempt to develop foresight. Around the world the field is variously referred to as futures studies, futures research, strategic foresight, futuristics, futures thinking, futuring, and futurology. Futures studies and strategic foresight are the academic field's most commonly used terms in the English-speaking world.

Foresight was the original term and was first used in this sense by H.G. Wells in 1932. 'Futurology' is a term common in encyclopedias, though it is used almost exclusively by nonpractitioners today, at least in the English-speaking world. 'Futurology' is defined as the 'study of the future.' The term was coined by German professor Ossip K. Flechtheim in the mid-1940s, who proposed it as a new branch of knowledge that would include a new science of probability. This term has fallen from favor in recent decades because modern practitioners stress the importance of alternative, plausible, preferable and plural futures, rather than one monolithic future, and the limitations of prediction and probability, versus the creation of possible and preferable futures.

Three factors usually distinguish futures studies from the research conducted by other disciplines (although all of these disciplines overlap, to differing degrees). First, futures studies often examines trends to compose possible, probable, and preferable futures along with the role 'wild cards' can play on future scenarios. Second, futures studies typically attempts to gain a holistic or systemic view based on insights from a range of different disciplines, generally focusing on the STEEP categories of Social, Technological, Economic, Environmental and Political. Third, futures studies challenges and unpacks the assumptions behind dominant and contending views of the future. The future thus is not empty but fraught with hidden assumptions. For example, many people expect the collapse of the Earth's ecosystem in the near future, while others believe the current ecosystem will survive indefinitely. A foresight approach would seek to analyze and highlight the assumptions underpinning such views.

As a field, futures studies expands on the research component, by emphasizing the communication of a strategy and the actionable steps needed to implement the plan or plans leading to the preferable future. It is in this regard, that futures studies evolves from an academic exercise to a more traditional business-like practice, looking to better prepare organizations for the future.

Futures studies does not generally focus on short term predictions such as interest rates over the next business cycle, or of managers or investors with short-term time horizons. Most strategic planning, which develops goals and objectives with time horizons of one to three years, is also not considered futures. Plans and strategies with longer time horizons that specifically attempt to anticipate possible future events are definitely part of the field. Learning about medium and long-term developments may at times be observed from their early signs. As a rule, futures studies is generally concerned with changes of transformative impact, rather than those of an incremental or narrow scope.

The futures field also excludes those who make future predictions through professed supernatural means.

To complete a futures study, a domain is selected for examination. The domain is the main idea of the project, or what the outcome of the project seeks to determine. Domains can have a strategic or exploratory focus and must narrow down the scope of the research. It examines what will, and more importantly, will not be discussed in the research. Futures practitioners study trends focusing on STEEP (Social, Technological, Economic, Environments and Political) baselines. Baseline exploration examine current STEEP environments to determine normal trends, called baselines. Next, practitioners use scenarios to explore different futures outcomes. Scenarios examine how the future can be different. 1. Collapse Scenarios seek to answer: What happens if the STEEP baselines fall into ruin and no longer exist? How will that impact STEEP categories? 2. Transformation Scenarios: explore futures with the baseline of society transiting to a 'new' state. How are the STEEP categories effected if society has a whole new structure? 3. New Equilibrium: examines an entire change to the structure of the domain. What happens if the baseline changes to a 'new' baseline within the same structure of society?

" - wikipedia.org
This quote downloaded July 5th, 2022. [Refer https://en.wikipedia.org/wiki/Futures_studies ]
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[Quote No.66963] Need Area: Mind > Imagine
"[The importance of human imagination to the separation of the animal species from the human species, humanity and civilization, because it allows the unique human attribute of forethought and planning which underlies the god-like quality of creation, is expressed in the Greek myth of Prometheus:] In Greek mythology, Prometheus (possibly meaning 'forethought'), is a Titan god of fire. Prometheus is a culture hero and trickster figure who is credited with the creation of humanity from clay, and who defies the gods by stealing fire and giving it to humanity as civilization. Prometheus is known for his intelligence and for being a champion of humankind, and is also seen as the author of the human arts and sciences generally. ... The punishment of Prometheus as a consequence of the theft of fire and giving it to humans is a popular subject of both ancient and modern culture. Zeus, king of the Olympian gods, sentenced Prometheus to eternal torment for his transgression. Prometheus was bound to a rock, and an eagle--the emblem of Zeus--was sent to eat his liver (in ancient Greece, the liver was often thought to be the seat of human emotions). His liver would then grow back overnight, only to be eaten again the next day in an ongoing cycle. Prometheus was eventually freed by the hero Heracles. ... In his dialogue titled 'Protagoras', Plato contrasts Prometheus ['Forethinker'] with his dull-witted brother Epimetheus, 'Afterthinker'. In Plato's dialogue 'Protagoras', Protagoras asserts that the gods created humans and all the other animals, but it was left to Prometheus and his brother Epimetheus to give defining attributes to each. As no physical traits were left when the pair came to humans, Prometheus decided to give them fire and other civilising arts." - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Prometheus - retrieved 10/10/2020 ]
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[Quote No.69159] Need Area: Mind > Imagine
"[Big History - history from the beginning of time and the universe through to the present and on into the future with your life's contribution and beyond; progress; futurology; futurist; science and science-fiction:]

Futures studies, futures research, futurism or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends, often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies (colloquially called 'futures' by many of the field's practitioners) seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.

... Futurology is an interdisciplinary field that aggregates and analyzes trends, with both lay and professional methods, to compose possible futures. It includes analyzing the sources, patterns, and causes of change and stability in an attempt to develop foresight. Around the world the field is variously referred to as futures studies, futures research, strategic foresight, futuristics, futures thinking, futuring, and futurology. Futures studies and strategic foresight are the academic field's most commonly used terms in the English-speaking world.

Foresight was the original term and was first used in this sense by H.G. Wells in 1932. 'Futurology' is a term common in encyclopedias, though it is used almost exclusively by nonpractitioners today, at least in the English-speaking world. 'Futurology' is defined as the 'study of the future.' The term was coined by German professor Ossip K. Flechtheim in the mid-1940s, who proposed it as a new branch of knowledge that would include a new science of probability. This term has fallen from favor in recent decades because modern practitioners stress the importance of alternative, plausible, preferable and plural futures, rather than one monolithic future, and the limitations of prediction and probability, versus the creation of possible and preferable futures.

Three factors usually distinguish futures studies from the research conducted by other disciplines (although all of these disciplines overlap, to differing degrees). First, futures studies often examines trends to compose possible, probable, and preferable futures along with the role 'wild cards' can play on future scenarios. Second, futures studies typically attempts to gain a holistic or systemic view based on insights from a range of different disciplines, generally focusing on the STEEP categories of Social, Technological, Economic, Environmental and Political. Third, futures studies challenges and unpacks the assumptions behind dominant and contending views of the future. The future thus is not empty but fraught with hidden assumptions. For example, many people expect the collapse of the Earth's ecosystem in the near future, while others believe the current ecosystem will survive indefinitely. A foresight approach would seek to analyze and highlight the assumptions underpinning such views.

As a field, futures studies expands on the research component, by emphasizing the communication of a strategy and the actionable steps needed to implement the plan or plans leading to the preferable future. It is in this regard, that futures studies evolves from an academic exercise to a more traditional business-like practice, looking to better prepare organizations for the future.

Futures studies does not generally focus on short term predictions such as interest rates over the next business cycle, or of managers or investors with short-term time horizons. Most strategic planning, which develops goals and objectives with time horizons of one to three years, is also not considered futures. Plans and strategies with longer time horizons that specifically attempt to anticipate possible future events are definitely part of the field. Learning about medium and long-term developments may at times be observed from their early signs. As a rule, futures studies is generally concerned with changes of transformative impact, rather than those of an incremental or narrow scope.

The futures field also excludes those who make future predictions through professed supernatural means.

To complete a futures study, a domain is selected for examination. The domain is the main idea of the project, or what the outcome of the project seeks to determine. Domains can have a strategic or exploratory focus and must narrow down the scope of the research. It examines what will, and more importantly, will not be discussed in the research. Futures practitioners study trends focusing on STEEP (Social, Technological, Economic, Environments and Political) baselines. Baseline exploration examine current STEEP environments to determine normal trends, called baselines. Next, practitioners use scenarios to explore different futures outcomes. Scenarios examine how the future can be different. 1. Collapse Scenarios seek to answer: What happens if the STEEP baselines fall into ruin and no longer exist? How will that impact STEEP categories? 2. Transformation Scenarios: explore futures with the baseline of society transiting to a 'new' state. How are the STEEP categories effected if society has a whole new structure? 3. New Equilibrium: examines an entire change to the structure of the domain. What happens if the baseline changes to a 'new' baseline within the same structure of society?

" - wikipedia.org
This quote downloaded July 5th, 2022. [Refer https://en.wikipedia.org/wiki/Futures_studies ]
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[Quote No.66964] Need Area: Mind > Plan
"[The importance of human imagination to the separation of the animal species from the human species, humanity and civilization, because it allows the unique human attribute of forethought and planning which underlies the god-like quality of creation, is expressed in the Greek myth of Prometheus:-] In Greek mythology, Prometheus (possibly meaning 'forethought'), is a Titan god of fire. Prometheus is a culture hero and trickster figure who is credited with the creation of humanity from clay, and who defies the gods by stealing fire and giving it to humanity as civilization. Prometheus is known for his intelligence and for being a champion of humankind, and is also seen as the author of the human arts and sciences generally. ... The punishment of Prometheus as a consequence of the theft of fire and giving it to humans is a popular subject of both ancient and modern culture. Zeus, king of the Olympian gods, sentenced Prometheus to eternal torment for his transgression. Prometheus was bound to a rock, and an eagle--the emblem of Zeus--was sent to eat his liver (in ancient Greece, the liver was often thought to be the seat of human emotions). His liver would then grow back overnight, only to be eaten again the next day in an ongoing cycle. Prometheus was eventually freed by the hero Heracles. ... In his dialogue titled 'Protagoras', Plato contrasts Prometheus ['Forethinker'] with his dull-witted brother Epimetheus, 'Afterthinker'. In Plato's dialogue 'Protagoras', Protagoras asserts that the gods created humans and all the other animals, but it was left to Prometheus and his brother Epimetheus to give defining attributes to each. As no physical traits were left when the pair came to humans, Prometheus decided to give them fire and other civilising arts." - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Prometheus - retrieved 10/10/2020 ]
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[Quote No.40907] Need Area: Mind > Focus
"Flow is the mental state of operation in which a person in an activity is fully immersed in a feeling of energized focus, full involvement, and success in the process of the activity. Proposed by Mihály Csíkszentmihályi, the positive psychology concept has been widely referenced across a variety of fields. According to Csikszentmihalyi, flow is completely focused motivation. It is a single-minded immersion and represents perhaps the ultimate in harnessing the emotions in the service of performing and learning. In flow, the emotions are not just contained and channeled, but positive, energized, and aligned with the task at hand. To be caught in the ennui of depression or the agitation of anxiety is to be barred from flow. The hallmark of flow is a feeling of spontaneous joy, even rapture, while performing a task although flow is also described (below) as a deep focus on nothing but the activity – not even oneself or one's emotions. Colloquial terms for this or similar mental states include: to be on the ball, in the moment, present, in the zone, wired in, in the groove, on fire, in tune, or centered... The study of the concept of flow came about in the 1960s. Mihaly Csikszentmihalyi, who is considered to be the founder of flow, and his fellow researchers began researching flow after Csikszentmihalyi became fascinated by artists who would essentially get lost in their work. Artists, especially painters, got so immersed in their work that they would disregard their need for food, water and even sleep. Thus, the origin of research on the theory of flow came about when Csikszentmihalyi tried to understand this phenomenon experienced by these artists. Flow research became prevalent in the 1980s and 1990s, still with Csikszentmihalyi and his colleagues in Italy at the forefront. Researchers interested in optimal experiences and emphasizing positive experiences, especially in places such as schools and the business world, also began studying the theory of flow in this time period. The theory of flow was greatly used in the theories of Maslow and Rogers in their development of the humanistic tradition of psychology [and the idea of ‘peak experiences’ and ‘self-actualization’]. Flow has been experienced throughout history and across cultures. The teachings of Buddhism and Taoism speak of a state of mind known as the ‘action of inaction’ or ‘doing without doing’ that greatly resembles the idea of flow. Also, Indian texts on Advaita philosophy such as Ashtavakra Gita and the Yoga of Knowledge such as Bhagavad-Gita refer to this similar state. Historical sources hint that Michelangelo may have painted the ceiling of the Vatican's Sistine Chapel while in a flow state. It is reported that he painted for days at a time, and he was so absorbed in his work that he did not stop for food or sleep until he reached the point of passing out. He would wake up refreshed and, upon starting to paint again, re-entered a state of complete absorption. Bruce Lee also spoke of a psychological state similar to flow in his book the Tao of Jeet Kune Do... In every given moment, there is a great deal of information made available to each individual. Psychologists have found that one's mind can attend to only a certain amount of information at a time. According to Mihaly's 1956 study, that number is about 126 bits of information per second. That may seem like a large number (and a lot of information), but simple daily tasks take quite a lot of information. Just having a conversation takes about 40 bits of information per second; that's 1/3 of one's capacity. That is why when one is having a conversation he or she cannot focus as much of his or her attention on other things. For the most part (except for basic bodily feelings like hunger and pain, which are innate), people are able to decide what they want to focus their attention on. However, when one is in the flow state, he or she is completely engrossed with the one task at hand and, without making the conscious decision to do so, loses awareness of all other things: time, people, distractions, and even basic bodily needs. This occurs because all of the attention of the person in the flow state is on the task at hand; there is no more attention to be allocated... MMA champion and Karate master Lyoto Machida uses meditation techniques before fights to attain mushin, a concept that, by his description, is in all respects equal to flow. The Formula One driver Ayrton Senna, who during qualifying for the 1988 Monaco Grand Prix explained: ‘I was already on pole, [...] and I just kept going. Suddenly I was nearly two seconds faster than anybody else, including my team mate with the same car. And suddenly I realised that I was no longer driving the car consciously. I was driving it by a kind of instinct, only I was in a different dimension. It was like I was in a tunnel.’ When challenges and skills are simultaneously above average, a broadly positive experience emerges. Also vital to the flow state is a sense of control, which nevertheless seems simultaneously effortless and masterful. Control and concentration manifest with a transcendence of normal awareness; one aspect of this transcendence is the loss of self-consciousness... Csíkszentmihályi may have been the first to describe this concept in Western psychology, but as he himself readily acknowledges he was most certainly not the first to quantify the concept of flow or develop applications based on the concept. For millennia, practitioners of Eastern religions such as Hinduism, Buddhism and Taoism have honed the discipline of overcoming the duality of self and object as a central feature of spiritual development. Eastern spiritual practitioners have developed a very thorough and holistic set of theories around overcoming duality of self and object, tested and refined through spiritual practice instead of the systematic rigor and controls of modern science. The phrase being at one with things is a metaphor of Csíkszentmihályi's flow concept. Practitioners of the varied schools of Zen Buddhism apply concepts similar to flow to aid their mastery of art forms, including, in the case of Japanese Zen Buddhism, Aikido, Cheng Hsin, Judo, Honkyoku, Kendo and Ikebana. In yogic traditions such as Raja Yoga reference is made to a state of flow in the practice of Samyama, a psychological absorption in the object of meditation. Theravada Buddhism refers to ‘access concentration’ which is a state of flow achieved through meditation and used to further strengthen concentration into jhana, and/or to develop insight..." - wikipedia.org
[http://en.wikipedia.org/wiki/Flow_(psychology) ]
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[Quote No.53987] Need Area: Mind > Persist
"[A true story - with a message about persisting past discouragement, rejection, criticism and other negatives - regardless of who the negatives come from whether from so-called authorities or those we are close to and care about and - regardless of what area of life whether it is in science, study, investing, business, inventing, sales, friendship, love, writing, etc. Perusing the biographies of successes will show that this trait is necessary. The following success is just one example of a writer-author:] J. K. ROWLING: In 1995, Rowling finished her manuscript for ‘Harry Potter and the Philosopher's Stone’ on an old manual typewriter. Upon the enthusiastic response of Bryony Evans, a reader who had been asked to review the book’s first three chapters, the Fulham-based Christopher Little Literary Agents agreed to represent Rowling in her quest for a publisher. The book was submitted to twelve publishing houses, all of which rejected the manuscript. A year later she was finally given the green light (and a £1500 advance) by editor Barry Cunningham from Bloomsbury, a small British publishing house in London, England. The decision to publish Rowling's book apparently owes much to Alice Newton, the eight-year-old daughter of Bloomsbury’s chairman, who was given the first chapter to review by her father and immediately demanded the next. Although Bloomsbury agreed to publish the book, Cunningham says that he advised Rowling to get a day job, since she had little chance of making money in children’s books. Soon after, in 1997, Rowling received an £8000 grant from the Scottish Arts Council to enable her to continue writing. The following spring, an auction was held in the United States for the rights to publish the novel, and was won by Scholastic Inc., for $105,000. Rowling has said she ‘nearly died’ when she heard the news. In June 1997, Bloomsbury published ‘Philosopher’s Stone’ with an initial print-run of one thousand copies, five hundred of which were distributed to libraries. Today, such copies are valued between £16,000 and £25,000. Five months later, the book won its first award, a Nestlé Smarties Book Prize. In February, the novel won the prestigious British Book Award for Children’s Book of the Year, and later, the Children’s Book Award. In October 1998, Scholastic published ‘Philosopher’s Stone’ in the US under the title of ‘Harry Potter and the Sorcerer’s Stone’: a change Rowling claims she now regrets and would have fought if she had been in a better position at the time. In December 1999, the third novel, ‘Harry Potter and the Prisoner of Azkaban’, won the Smarties Prize, making Rowling the first person to win the award three times running. She later withdrew the fourth Harry Potter novel from contention to allow other books a fair chance. In January 2000, ‘Prisoner of Azkaban’ won the inaugural Whitbread Children’s Book of the Year award, though it lost the Book of the Year prize to Seamus Heaney’s translation of Beowulf. The fourth book, ‘Harry Potter and the Goblet of Fire’, was released simultaneously in the UK and the US on 8 July 2000, and broke sales records in both countries. Some 372,775 copies of the book were sold in its first day in the UK, almost equalling the number of ‘Prisoner of Azkaban’ sold during its first year. In the US, the book sold three million copies in its first 48 hours, smashing all literary sales records. Rowling admitted that she had had a moment of crisis while writing the novel; ‘Halfway through writing Four, I realised there was a serious fault with the plot ... I've had some of my blackest moments with this book ... One chapter I rewrote 13 times, though no-one who has read it can spot which one or know the pain it caused me.’ Rowling was named author of the year in the 2000 British Book Awards. A wait of three years occurred between the release of ‘Goblet of Fire’ and the fifth Harry Potter novel, ‘Harry Potter and the Order of the Phoenix’. This gap led to press speculation that Rowling had developed writer's block, speculations she fervently denied. Rowling later admitted that writing the book was a chore. ‘I think Phoenix could have been shorter’, she told Lev Grossman, ‘I knew that, and I ran out of time and energy toward the end.’ The sixth book, ‘Harry Potter and the Half-Blood Prince’, was released on 16 July 2005. It too broke all sales records, selling nine million copies in its first 24 hours of release. While writing, she told a fan online, ‘Book six has been planned for years, but before I started writing seriously I spend two months re-visiting the plan and making absolutely sure I knew what I was doing.’ She noted on her website that the opening chapter of book six, which features a conversation between the Minister of Magic and the British Prime Minister, had been intended as the first chapter first for ‘Philosopher's Stone’, then ‘Chamber of Secrets’ then ‘Prisoner of Azkaban’. In 2006, ‘Half-Blood Prince’ received the Book of the Year prize at the British Book Awards. The title of the seventh and final Harry Potter book was revealed 21 December 2006 to be ‘Harry Potter and the Deathly Hallows’. In February 2007 it was reported that Rowling wrote on a bust in her hotel room at the Balmoral Hotel in Edinburgh that she had finished the seventh book in that room on 11 January 2007. ‘Harry Potter and the Deathly Hallows’ was released on 21 July 2007 (0:00 BST) and broke its predecessor's record as the fastest-selling book of all time. It sold 11 million copies in the first day of release in the United Kingdom and United States. She has said that the last chapter of the book was written ‘in something like 1990’, as part of her earliest work on the entire series. During a year period when Rowling was completing the last book, she allowed herself to be filmed for a documentary which aired in Britain on ITV on 30 December 2007. It was entitled ‘J K Rowling... A Year In The Life’ and showed her returning to her old Edinburgh tenement flat where she lived, and completed the first Harry Potter book. Re-visiting the flat for the first time reduced her to tears, saying it was ‘really where I turned my life around completely.’ Harry Potter is now a global brand worth an estimated £7 billion ($15 billion), and the last four Harry Potter books have consecutively set records as the fastest-selling books in history. The series, totalling 4,195 pages, has been translated, in whole or in part, into 65 languages. The Harry Potter books have also gained recognition for sparking an interest in reading among the young at a time when children were thought to be abandoning the book for the computer and the television, although the series' overall impact on children's reading habits has been questioned." - wikipedia.org
[The information was collected from among the following websites with thanks: http://en.wikipedia.org/wiki/J.K._Rowlin... --- http://www.buzzfeed.com/stmartinspress/20-brilliant-authors-whose-work-was-initially-reje-7rut --- http://www.onehundredrejections.com/ --- https://uk.answers.yahoo.com/question/index?qid=20080624093953AAVkMpG –jk Rowling --- http://entertainment.howstuffworks.com/arts/literature/14-best-selling-books-repeatedly-rejected-by-publishers.htm#page=0 --- http://www.literaryrejections.com/best-sellers-initially-rejected/ ]
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[Quote No.54212] Need Area: Mind > Persist
"[True story after true story: about focus, drive and persistence overcoming a poor and/or difficult childhood to rise to immense leadership power and success:] Inspirational Rags-to-Riches Stories from the distant past

- Genghis Khan, who was homeless with just his mother and his siblings. He went on to create the largest land empire in history.

- The Roman Emperor Diocletian, born in poverty and whose father was a former slave (by some sources, the emperor himself was born in slavery).

- Pope Leo III was of commoner origin and attained the high position in spite of violent opposition from the nobility, who considered the papacy as their preserve.

- Pope Gregory VII, Hildebrand, was a commoner, perhaps the son of a blacksmith. His bad reputation was partially due to horror at his high social mobility.

- Chandragupta Maurya of India, who from a humble beginning founded the Maurya Empire.

- China's Hongwu Emperor and Emperor Gaozu of Han, who were born into peasant families, but eventually founded two of the nation's most illustrious imperial dynasties.

- Nader Shah, founder of the Afsharid dynasty, also known as the Last Great Conqueror from Asia.

- Toyotomi Hideyoshi, a famous example in modern times, as a he unified pre-modern Japan.

" - wikipedia.org
[http://en.wikipedia.org/wiki/Rags_to_riches ]
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[Quote No.54409] Need Area: Mind > Persist
"[A true story – with a message about enjoying the process and the journey of pursuing their dreams, so that they persisted despite years and years of effort, failure, criticism and disappointments, to eventually achieve success: 'The Incredible Panama Canal' - In 1914] a small ship set sail on a short voyage that changed the face of ocean-going navigation forever. The SS Ancon made the 50-mile journey in a lengthy 10 hours, but it represented a 7,800-mile saving on the alternate route from the Atlantic to the Pacific, a treacherous 30-day voyage. It also signified the culmination of 34 years of work, tens of thousands of deaths, the birth of a nation and the confirmation of a new world superpower. Today, the Panama Canal is every bit as awe-inspiring as it was at its official inauguration in August 1914, and it remains a major attraction more than 100 years after president Teddy Roosevelt was among the first tourists here. Teddy was a shrewd, far-sighted politician and his insistence on building an alternative to the long passage around Cape Horn was the equivalent of John F Kennedy’s 1960s challenge to put a man on the Moon. After failed French efforts in 1880-1903, the US took over the project. It still took another 11 years to complete, but the finished work was fundamental to creating the Republic of Panama – originally a province of Colombia – and in marking out the US as the world’s most formidable force in maritime affairs. No one knows exactly how many died in the course of the canal’s construction. The tragic and badly governed French expedition recorded at least 22,000 who perished – mainly to disease but also treacherous working conditions that included earthquakes, mudslides and equipment failure. The American dig accounted for another 5,609 deaths, in the process solving the 19th-century mysteries of how yellow fever and malaria were spread. ...

(According to wikipedia: When the canal opened, it was a technological marvel. It was an important strategic and economic asset to the U.S., and revolutionized world shipping patterns, as its opening removed the need for ships to travel the long and dangerous route via the Drake Passage and Cape Horn (at the southernmost tip of South America). The canal saves a total of about 7,800 miles (12,600 km) on a trip from New York to San Francisco by sea. The anticipated military significance of the canal was proven in World War II, when the United States used it to help restore their devastated Pacific Fleet. Some of the largest ships the United States had to send through the canal were aircraft carriers, in particular the Essex class. These were so large that, although the locks could hold them, the lamp-posts alongside the canal had to be removed. The Panama Canal cost the United States around $375,000,000, including the $10,000,000 paid to Panama and the $40,000,000 paid to the French company. It was the single most expensive construction project in United States history to that time; remarkably, however, it was actually some $23,000,000 below the 1907 estimate, in spite of landslides and an increase in the canal's width. An additional $12,000,000 was spent on fortifications. More than 75,000 men and women worked on the project in total; at the height of construction, there were 40,000 workers working on it. According to hospital records, 5,609 workers died from disease and accidents during the American construction era. A total of 182,610,550 m3 (238,845,582 cu yd) of material was excavated in the American effort, including the approach channels at both ends of the canal. Adding the work inherited from the French, the total excavation required by the canal was around 204,900,000 m3 (268,000,000 cu yd). This is over 25 times the volume excavated in the Channel Tunnel project. Of the three presidents whose periods in office span the construction period, the name of President Roosevelt is often the one most associated with the canal, and Woodrow Wilson was the president who presided over its opening. However, it may have been William Howard Taft who gave the greatest personal impetus to the canal over the longest period. Taft visited Panama five times as Roosevelt's Secretary of War, and twice as President. He also hired John Stevens, and later recommended Goethals as his replacement. Taft became president in 1909, when canal construction was only at the halfway mark, and remained in office for most of the remainder of the work. However, Major George Washington Goethals the chief engineer, who supervised the engineer Colonel David du Bose Gaillard who was in charge of the most difficult areas, later wrote that 'the real builder of the Panama Canal was Theodore Roosevelt'. The following words of Theodore Roosevelt are displayed in the Rotunda of the Administration Building: 'It is not the critic who counts, not the man who points out how the strong man stumbled, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena; whose face is marred by dust and sweat and blood; who strives valiantly, who errs and comes short again and again; who knows the great enthusiasms, the great devotions, and spends himself in a worthy cause; who, at the best, knows in the end the triumph of high achievement; and who, at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who know neither victory nor defeat.' Colonel David du Bose Gaillard, the U.S. Army engineer in charge of the most difficult sections of the canal build, succeeded in his mission, but did not live to see the job finished. He returned to the US suffering from what was thought to be nervous exhaustion brought on by overwork and died of a brain tumor on December 5, 1913 at Johns Hopkins Hospital in Baltimore, months before the canal's completion. He was 54 years old. He is buried at Arlington National Cemetery. The Panama Canal opened nine months after his death. During the years of the US Canal Zone (circa 1915–2000), the Culebra Cut in the Panama Canal bore his name in his memory. A plaque commemorating his work stood over the cut for many years; in 1998 it was moved to the Administration Building in Balboa, close to the Goethals Memorial.)" - Simon Veness (and wikipedia.org)
[http://www.independent.co.uk/travel/americas/great-divide-a-hundred-years-of-the-panama-canal-9038791.html and http://en.wikipedia.org/wiki/History_of_the_Panama_Canal ]
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[Quote No.58726] Need Area: Mind > Persist
"[A true story - with a message about persistence, the Golden Rule of treating others the way you'd like to be treated in the same situation and leading by example.] - Tetsugen Doko - Tetsugen, a devotee of Zen in Japan, decided to publish the sutras, which at that time were available only in Chinese. The books were to be printed with wood blocks in an edition of seven thousand copies, a tremendous undertaking. Tetsugen began by travelling and collecting donations for this purpose. A few sympathizers would give him a hundred pieces of gold, but most of the time he received only small coins. He thanked each donor with equal gratitude. After ten years Tetsugen had enough money to begin his task. It happened that at that time the Uji River overflowed. Famine followed. Tetsugen took the funds he had collected for the books and spent them to save others from starvation. Then he began again his work of collecting. Several years afterward an epidemic spread over the country. Tetsugen again gave away what he had collected. For a third time he started his work, and after twenty years his wish was fulfilled. The printing blocks which produced the first edition of sutras can be seen today in Obaku monastery in Kyoto. The Japanese tell their children that Tetsugen made three sets of sutras, and that the first two invisible sets surpass even the last." - wikipedia.org
Tetsugen Dōkō (1630 – 1682) was a Japanese Zen Master, and an important early leader of the Ōbaku school of Buddhism. Tetsugen was born in the seventh year of the Kan'ei era (1630) in Higo Province. He became a priest of the Jodo Shinshu sect at the age of 13. When Ingen came to Japan, Tetsugen became his follower in the Ōbaku school. In 1681, Tetsugen oversaw the production of the first complete woodcut edition (consisting of around 60,000 pieces) of the Chinese Buddhist sutras in Japan. Tetsugen died at the age of 53 in the second year of the Tenna era (1682). The anniversary of Tetsugen's birth is celebrated on January 1 in the Western calendar. [refer http://en.wikipedia.org/wiki/Tetsugen_Doko ]
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[Quote No.60363] Need Area: Mind > Persist
"[Story - with a meaning about persistence and courage:] - 'The Kansas Flyer' - Glenn Verniss Cunningham (August 4, 1909 – March 10, 1988) was an American distance runner and athlete considered by many the greatest American miler of all time. He received the James E. Sullivan Award as the top amateur athlete in the United States in 1933. He was born in Atlanta, Kansas, but grew up in Elkhart, Kansas. Cunningham was nicknamed the 'Kansas Flyer', as wll as the 'Elkhart Express' and the 'Iron Horse of Kansas'. Cunningham's legs were very badly burned in an explosion caused when someone accidentally put gasoline instead of kerosene in the can at his schoolhouse when he was eight and his brother Floyd was thirteen. Floyd died in the fire. When the doctors recommended amputating Glenn's legs, he was so distressed his parents would not allow it. The doctors predicted he might never walk normally again. He had lost all the flesh on his knees and shins and all the toes on his left foot. Also, his transverse arch was practically destroyed. However, his great determination, coupled with hours upon hours of a new type of therapy, enabled him to gradually regain the ability to walk and to proceed to run. It was in the early summer of 1919 when he first tried to walk again, roughly two years after the accident. He had a positive attitude as well as a strong religious faith. He competed in both the 1932 Summer Olympics as well as the 1936 Summer Olympics. While on the ship traveling from the U.S. to Germany, he was voted 'Most Popular Athlete' by his fellow Olympians. Cunningham won the Sullivan medal in 1933 for his various running achievements in middle distance. In the 1932 Olympics he took 4th place in the 1500 m, and in the 1936 Berlin Olympics, he took silver in the 1500 meters. In 1934, he set the world record for the mile run at 4:06.8, which stood for three years. In 1936, he set the world record in the 800 m run. In 1938, he set a world record in the indoor mile run of 4:04.4. He retired from competition in 1940. (Roger Bannister was the first to break the four-minute mile, in 1954.)" - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Glenn_Cunningham_(athlete) ]
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[Quote No.69160] Need Area: Mind > Progress
"[Big History - history from the beginning of time and the universe through to the present and on into the future with your life's contribution and beyond; progress; futurology; futurist; science and science-fiction:]

Futures studies, futures research, futurism or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends, often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies (colloquially called 'futures' by many of the field's practitioners) seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.

... Futurology is an interdisciplinary field that aggregates and analyzes trends, with both lay and professional methods, to compose possible futures. It includes analyzing the sources, patterns, and causes of change and stability in an attempt to develop foresight. Around the world the field is variously referred to as futures studies, futures research, strategic foresight, futuristics, futures thinking, futuring, and futurology. Futures studies and strategic foresight are the academic field's most commonly used terms in the English-speaking world.

Foresight was the original term and was first used in this sense by H.G. Wells in 1932. 'Futurology' is a term common in encyclopedias, though it is used almost exclusively by nonpractitioners today, at least in the English-speaking world. 'Futurology' is defined as the 'study of the future.' The term was coined by German professor Ossip K. Flechtheim in the mid-1940s, who proposed it as a new branch of knowledge that would include a new science of probability. This term has fallen from favor in recent decades because modern practitioners stress the importance of alternative, plausible, preferable and plural futures, rather than one monolithic future, and the limitations of prediction and probability, versus the creation of possible and preferable futures.

Three factors usually distinguish futures studies from the research conducted by other disciplines (although all of these disciplines overlap, to differing degrees). First, futures studies often examines trends to compose possible, probable, and preferable futures along with the role 'wild cards' can play on future scenarios. Second, futures studies typically attempts to gain a holistic or systemic view based on insights from a range of different disciplines, generally focusing on the STEEP categories of Social, Technological, Economic, Environmental and Political. Third, futures studies challenges and unpacks the assumptions behind dominant and contending views of the future. The future thus is not empty but fraught with hidden assumptions. For example, many people expect the collapse of the Earth's ecosystem in the near future, while others believe the current ecosystem will survive indefinitely. A foresight approach would seek to analyze and highlight the assumptions underpinning such views.

As a field, futures studies expands on the research component, by emphasizing the communication of a strategy and the actionable steps needed to implement the plan or plans leading to the preferable future. It is in this regard, that futures studies evolves from an academic exercise to a more traditional business-like practice, looking to better prepare organizations for the future.

Futures studies does not generally focus on short term predictions such as interest rates over the next business cycle, or of managers or investors with short-term time horizons. Most strategic planning, which develops goals and objectives with time horizons of one to three years, is also not considered futures. Plans and strategies with longer time horizons that specifically attempt to anticipate possible future events are definitely part of the field. Learning about medium and long-term developments may at times be observed from their early signs. As a rule, futures studies is generally concerned with changes of transformative impact, rather than those of an incremental or narrow scope.

The futures field also excludes those who make future predictions through professed supernatural means.

To complete a futures study, a domain is selected for examination. The domain is the main idea of the project, or what the outcome of the project seeks to determine. Domains can have a strategic or exploratory focus and must narrow down the scope of the research. It examines what will, and more importantly, will not be discussed in the research. Futures practitioners study trends focusing on STEEP (Social, Technological, Economic, Environments and Political) baselines. Baseline exploration examine current STEEP environments to determine normal trends, called baselines. Next, practitioners use scenarios to explore different futures outcomes. Scenarios examine how the future can be different. 1. Collapse Scenarios seek to answer: What happens if the STEEP baselines fall into ruin and no longer exist? How will that impact STEEP categories? 2. Transformation Scenarios: explore futures with the baseline of society transiting to a 'new' state. How are the STEEP categories effected if society has a whole new structure? 3. New Equilibrium: examines an entire change to the structure of the domain. What happens if the baseline changes to a 'new' baseline within the same structure of society?

" - wikipedia.org
This quote downloaded July 5th, 2022. [Refer https://en.wikipedia.org/wiki/Futures_studies ]
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[Quote No.40894] Need Area: Mind > General
"[The belief in their ability to freely chose and control their lives and the life-skills to do that are necessary for happy, confident, productive lives. When that is not the case people can become ineffective, depressed and mentally ill. Sometimes they believe they cannot even when they can. This is called learned helplessness.] Learned helplessness, as a technical term in animal psychology and related human psychology, means a condition of a human person or an animal in which it has learned to behave helplessly, even when the opportunity is restored for it to help itself by avoiding an unpleasant or harmful circumstance to which it has been subjected. Learned helplessness theory is the view that clinical depression and related mental illnesses may result from a perceived absence of control over the outcome of a situation. [Learned helplessness has also been considered a contributing factor in problems with academic achievement, disempowerment, self-esteem, aging, suicide, poverty, business failure, crime, domestic violence, poor parenting, discrimination, (non-meritocracy:) crony capitalism and political statism – voters calling for big paternal government interference in free markets, pessimism, hopelessness, drug abuse and alcoholism.]... In the learned helplessness experiment an animal is repeatedly hurt by an adverse stimulus which it cannot escape. Eventually the animal will stop trying to avoid the pain and behave as if it is utterly helpless to change the situation. Finally, when opportunities to escape are presented, this learned helplessness prevents any action. The only coping mechanism the animal uses is to be stoical and put up with the discomfort, not expending energy getting worked up about the adverse stimulus... Later research discovered that the original theory of learned helplessness failed to account for people's varying reactions to situations that can cause learned helplessness. Learned helplessness sometimes remains specific to one situation, but at other times generalizes across situations. An individual's attributional style or explanatory style was the key to understanding why people responded differently to adverse events. Although a group of people may experience the same or similar negative events, how each person privately interprets or explains the event will affect the likelihood of acquiring learned helplessness and subsequent depression. People with pessimistic explanatory style — which sees negative events as permanent (‘it will never change’), personal (‘it's my fault’), and pervasive (‘I can't do anything correctly’) — are most likely to suffer from learned helplessness and depression. Cognitive behavioral therapy, heavily endorsed by [Martin] Seligman, can often help people to learn more realistic explanatory styles, and can help ease depression. Bernard Weiner's attribution theory (1979, 1985, 1986) concerns the way that people attribute a cause or explanation to an unpleasant event. Attribution theory includes the dimensions of globality/specificity, stability/instability, and internality/externality. A global attribution occurs when the individual believes that the cause of negative events is consistent across different contexts. A specific attribution occurs when the individual believes that the cause of a negative event is unique to a particular situation. A stable attribution occurs when the individual believes the cause to be consistent across time. Unstable attribution occurs when the individual thinks that the cause is specific to one point in time. An external attribution assigns causality to situational or external factors, while an internal attribution assigns causality to factors within the person… There are several aspects of human helplessness that have no counterpart among other animals. One of the most intriguing aspects is ‘vicarious learning (or modelling)’: that people can learn to be helpless through observing another person encountering uncontrollable events. Apart from the shared depression symptoms between human and other animals such as passivity, introjected hostility, weight loss, appetite loss, social and sexual deficits, some of the diagnostic symptoms of learned helplessness — including depressed mood, feelings of worthlessness, and suicidal ideation — can be found and observed in human beings but not necessarily in animals. In animal models, control over stress conveys resilience to future uncontrolled stressors and induces changes in the function of specific neurons within the prefrontal cortex." - wikipedia.org
[http://en.wikipedia.org/wiki/Learned_helplessness ]
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[Quote No.46483] Need Area: Body > Health
"[Healthy, natural nutrition:] The paleolithic diet (abbreviated paleo diet or paleodiet), also popularly referred to as the [primal diet], caveman diet, Stone Age diet and hunter-gatherer diet, is a modern nutritional plan based on the presumed ancient diet of wild plants and animals that various hominid species habitually consumed during the Paleolithic era — a period of about 2.5 million years which ended around 10,000 years ago with the development of agriculture and grain-based diets. In common usage, such terms as 'paleolithic diet' also refer to the actual ancestral human diet. Centered on commonly available modern foods, the 'contemporary' Paleolithic diet consists mainly of fish, grass-fed pasture raised meats, eggs, vegetables, fruit, fungi, roots, and nuts, and excludes grains, legumes, dairy products, potatoes, refined salt, refined sugar, and processed oils. First popularized in the mid-1970s by gastroenterologist Walter L. Voegtlin, this nutritional concept has been promoted and adapted by a number of authors and researchers in several books and academic journals. A common theme in evolutionary medicine, Paleolithic nutrition is based on the premise that modern humans are genetically adapted to the diet of their Paleolithic ancestors and that human genetics have scarcely changed since the dawn of agriculture, and therefore that an ideal diet for human health and well-being is one that resembles this ancestral diet. Proponents of this diet argue that modern human populations subsisting on traditional diets allegedly similar to those of Paleolithic hunter-gatherers are largely free of diseases of affluence [lifestyle], and that multiple studies of the Paleolithic diet in humans have shown improved health outcomes relative to other widely recommended diets. Supporters also point to several potentially therapeutic nutritional characteristics of preagricultural diets!" - wikipedia.org

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[Quote No.46864] Need Area: Body > Health
"Overweight and obesity are rising medical problems of pandemic proportions. There are many detrimental health effects of obesity: Individuals with a BMI (Body Mass Index) exceeding a healthy range have a much greater risk of medical issues. These include heart disease, diabetes, many types of cancer, asthma, obstructive sleep apnea, and chronic musculoskeletal problems. There is also an effect of obesity on mortality... weight loss...leads to improvements in quality of life and obesity related diseases such as hypertension and diabetes." - wikipedia.org
[http://en.wikipedia.org/wiki/Bariatrics ]
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[Quote No.60364] Need Area: Body > Exercise
"[Story - with a meaning about persistence and courage:-] - 'The Kansas Flyer' - Glenn Verniss Cunningham (August 4, 1909 – March 10, 1988) was an American distance runner and athlete considered by many the greatest American miler of all time. He received the James E. Sullivan Award as the top amateur athlete in the United States in 1933. He was born in Atlanta, Kansas, but grew up in Elkhart, Kansas. Cunningham was nicknamed the 'Kansas Flyer', as wll as the 'Elkhart Express' and the 'Iron Horse of Kansas'. Cunningham's legs were very badly burned in an explosion caused when someone accidentally put gasoline instead of kerosene in the can at his schoolhouse when he was eight and his brother Floyd was thirteen. Floyd died in the fire. When the doctors recommended amputating Glenn's legs, he was so distressed his parents would not allow it. The doctors predicted he might never walk normally again. He had lost all the flesh on his knees and shins and all the toes on his left foot. Also, his transverse arch was practically destroyed. However, his great determination, coupled with hours upon hours of a new type of therapy, enabled him to gradually regain the ability to walk and to proceed to run. It was in the early summer of 1919 when he first tried to walk again, roughly two years after the accident. He had a positive attitude as well as a strong religious faith. He competed in both the 1932 Summer Olympics as well as the 1936 Summer Olympics. While on the ship traveling from the U.S. to Germany, he was voted 'Most Popular Athlete' by his fellow Olympians. Cunningham won the Sullivan medal in 1933 for his various running achievements in middle distance. In the 1932 Olympics he took 4th place in the 1500 m, and in the 1936 Berlin Olympics, he took silver in the 1500 meters. In 1934, he set the world record for the mile run at 4:06.8, which stood for three years. In 1936, he set the world record in the 800 m run. In 1938, he set a world record in the indoor mile run of 4:04.4. He retired from competition in 1940. (Roger Bannister was the first to break the four-minute mile, in 1954.)" - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Glenn_Cunningham_(athlete) ]
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[Quote No.58725] Need Area: Body > Grooming
"[Smile, smiling, laughing, etc:-] The facial feedback hypothesis states that facial movement can influence emotional experience. For example, an individual who is forced to smile during a social event will actually come to find the event more of an enjoyable experience. ... Charles Darwin was among the first to suggest that physiological changes caused by an emotion had a direct impact on, rather than being just the consequence of that emotion. He wrote: 'The free expression by outward signs of an emotion intensifies it. On the other hand, the repression, as far as this is possible, of all outward signs softens our emotions... Even the simulation of an emotion tends to arouse it in our minds.' Following on this idea, William James proposed that, contrary to common belief, awareness of bodily changes activated by a stimulus 'is the emotion'. If no bodily changes are felt, there is only an intellectual thought, devoid of emotional warmth. In The Principles of Psychology, James wrote: 'Refuse to express a passion, and it dies'. This proved difficult to test, and little evidence was available, apart from some animal research and studies of people with severely impaired emotional functioning. The facial feedback hypothesis, 'that skeletal muscle feedback from facial expressions plays a causal role in regulating emotional experience and behaviour' developed almost a century after Darwin. ... While James included the influence of all bodily changes on the creation of an emotion, 'including among them visceral, muscular, and cutaneous effects', modern research mainly focuses on the effects of facial muscular activity. One of the first to do so, Silvan Tomkins wrote in 1962 that 'the face expresses affect, both to others and the self, via feedback, which is more rapid and more complex than any stimulation of which the slower moving visceral organs are capable'. Two versions of the facial feedback hypothesis appeared, although 'these distinctions have not always been consistent'. The weak version, introduced by Darwin, sees the feedback intensify or reduce an emotion already present. Thomas McCanne and Judith Anderson (1987) instructed participants to suppress or increase the zygomatic or corrugator muscle while imagining pleasant or unpleasant scenes. Subsequent alteration of the emotional response was shown to have occurred. The strong version implies that facial feedback by itself can create the whole emotion. According to Jeffrey Browndyke, 'the strongest evidence for the facial feedback hypothesis to date comes from research by Lanzetta et al. (1976)' ... Participants had lower skin conductance and subjective ratings of pain when hiding the painfulness of the shocks they endured, compared with those who expressed intense pain!" - wikipedia.org
[https://en.wikipedia.org/wiki/Facial_feedback_hypothesis ]
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[Quote No.58872] Need Area: Body > General
"[Aging gracefully and eating a healthy, nutritious diet for active longevity:] Blue Zones is a concept used to identify a demographic and/or geographic area of the world where people live measurably longer lives. The concept grew out of demographic work done by Gianni Pes and Michel Poulain, who identified Sardinia's Nuoro province as the region with the highest concentration of male centenarians. As the two men zeroed in on the cluster of villages with the highest longevity, they drew concentric blue circles on the map and began referring to the area inside the circle as the Blue Zone. Dan Buettner identifies longevity hotspots in Okinawa (Japan); Sardinia (Italy); Nicoya (Costa Rica); Icaria (Greece); and among the Seventh-day Adventists in Loma Linda, California, and offers an explanation, based on empirical data and first hand observations, as to why these populations live healthier and longer lives. The five regions identified and discussed by Buettner in the book 'The Blue Zones: Lessons for Living Longer from the People Who've Lived the Longest': --- 1. Sardinia, Italy (particularly Nuoro province and Ogliastra): one team of demographers found a hot spot of longevity in mountain villages where men reach the age of 100 years at an amazing rate. --- 2. The islands of Okinawa, Japan: another team examined a group that is among the longest-lived on Earth. --- 3. Loma Linda, California: researchers studied a group of Seventh-day Adventists who rank among North America's longevity all-stars. --- 4. Nicoya Peninsula, Costa Rica: the peninsula was the subject of research on a Quest Network expedition which began on January 29, 2007. --- 5. Icaria, Greece: an April 2009 study on the island of Ikaria uncovered the location with the highest percentage of 90-year-olds on the planet – nearly 1 out of 3 people make it to their 90s. Furthermore, Ikarians 'have about 20 percent lower rates of cancer, 50 percent lower rates of heart disease and almost no dementia.' Residents of the first three places produce a high rate of centenarians, suffer a fraction of the diseases that commonly kill people in other parts of the developed world, and enjoy more healthy years of life. ... The people inhabiting Blue Zones share common lifestyle characteristics that contribute to their longevity. ... Buettner in his book provide a list of nine lessons, covering the lifestyle of blue zones people: - 1.Moderate, regular physical activity. - 2.Life purpose. - 3.Stress reduction. - 4.Moderate calories intake. - 5.Plant-based diet [Semi-vegetarianism – except for the Sardinian diet, the majority of food consumed is derived from plants]. - 6.Moderate alcohol intake, especially wine [Less smoking]. - 7.Engagement in spirituality or religion. - 8.Engagement in family life. - 9.Engagement in social life." - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Blue_Zone and https://www.bluezones.com/live-longer/ and https://www.bluezones.com/blue-zones-solution-2/ ]
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[Quote No.35964] Need Area: Money > Invest
"In investment, the bond credit rating assesses the credit worthiness of a corporation's or government debt issues. It is analogous to credit ratings for individuals. The credit rating is a financial indicator to potential investors of debt securities such as bonds. These are assigned by credit rating agencies such as Moody's, Standard & Poor's, and Fitch Ratings to have letter designations (such as AAA, B, CC) which represent the quality of a bond. Bond ratings below BBB/Baa are considered to be not investment grade and are colloquially called junk bonds... Moody's assigns bond credit ratings of Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, with WR and NR as withdrawn and not rated.[2] Standard & Poor's and Fitch assign bond credit ratings of AAA, AA, A, BBB, BB, B, CCC, CC, C, D. Moody's, S&P and Fitch will all also assign intermediate ratings at levels between AA and CCC (e.g., BBB+, BBB and BBB-), and may also choose to offer guidance (termed a 'credit watch') as to whether it is likely to be upgraded (positive), downgraded (negative) or uncertain (neutral)... A bond [or fixed interest investment] is considered investment grade or IG if its credit rating is BBB- or higher by Standard & Poor's or Baa3 or higher by Moody's or BBB(low) or higher by DBRS. Generally they are bonds that are judged by the rating agency as likely enough to meet payment obligations that banks are allowed to invest in them. Ratings play a critical role in determining how much companies and other entities that issue debt, including sovereign governments, have to pay to access credit markets, i.e., the amount of interest they pay on their issued debt. The threshold between investment-grade and speculative-grade ratings has important market implications for issuers' borrowing costs. Bonds that are not rated as investment-grade bonds are known as high yield bonds or more derisively as junk bonds. The risks associated with investment-grade bonds (or investment-grade corporate debt) are considered noticeably higher than in the case of first-class government bonds. The difference between rates for first-class government bonds and investment-grade bonds is called investment-grade spread. It is an indicator for the market's belief in the stability of the economy. The higher these investment-grade spreads (or risk premiums) are, the weaker the economy is considered." - wikipedia.org
http://en.wikipedia.org/wiki/Bond_credit_rating
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[Quote No.36174] Need Area: Money > Invest
"Fractional-reserve banking: The different forms of money in government money supply statistics arise from the practice of fractional-reserve banking. Whenever a bank gives out a loan in a fractional-reserve banking system, a new sum of money is created [the money supply is multiplied]. This new type of money is what makes up the non-M0 components in the M1-M3 [money supply] statistics. In short, there are two types of money in a fractional-reserve banking system: --1.central bank money (obligations of a central bank, including currency and central bank depository accounts), --2.commercial bank money (obligations of commercial banks, including checking accounts and savings accounts). In the [US] money supply statistics, central bank money is MB while the commercial bank money is divided up into the M1-M3 components. Generally, the types of commercial bank money that tend to be valued at lower amounts are classified in the narrow category of M1 while the types of commercial bank money that tend to exist in larger amounts are categorized in M2 and M3, with M3 having the largest. In the US, reserves consist of money in Federal Reserve accounts and US currency held by banks (also known as 'vault cash'). Currency and money in Fed accounts are interchangeable (both are obligations of the Fed). Reserves may come from any source, including the federal funds market, deposits by the public, and borrowing from the Fed itself. A reserve requirement is a ratio a bank must maintain between deposits and reserves. Reserve requirements do not apply to the amount of money a bank may lend out. The ratio that applies to bank lending is its capital requirement. [Central banks can alter the required reserves and/or the capital adequacy ratios allowed in order to increase or decrease the money supply within an economy, as part of their monetary policies to tighten or loosen and increase or decrease interest rates as well as increase the prudential stability of the banking system specifically and the economy's financial system in general.] Example [of how fractional reserve banking multiplies the money supply and how this is reflected in the breakdown of the money supply into its various money supply accounting components - M1, M2, etc]: Note: The examples apply when read in sequential order. ------M0: Laura has ten US $100 bills, representing $1000 in the M0 supply for the United States. (MB = $1000, M0 = $1000, M1 = $1000, M2 = $1000). Laura burns one of her $100 bills. The US M0, and her personal net worth, just decreased by $100. (MB = $900, M0 = $900, M1 = $900, M2 = $900). -------M1: Laura takes the remaining nine bills and deposits them in her checking account at her bank. (MB = $900, M0 = 0, M1 = $900, M2 = $900). The bank then calculates its reserve using the minimum reserve percentage given by the Fed and loans the extra money. If the minimum reserve is 10%, this means $90 will remain in the bank's reserve. The remaining $810 can only be used by the bank as credit, by lending money, but until that happens it will be part of the banks excess reserves. The M1 money supply increased by $810 when the loan is made. M1 money has been created. ( MB = $900 M0 = 0, M1 = $1710, M2 = $1710). Laura writes a check for $400, check number 7771. The total M1 money supply didn't change, it includes the $400 check and the $500 left in her account. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710). Laura's check number 7771 is accidentally destroyed in the laundry. M1 and her checking account do not change, because the check is never cashed. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710). Laura writes check number 7772 for $100 to her friend Alice, and Alice deposits it into her checking account. MB does not change, it still has $900 in it, Alice's $100 and Laura's $800. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710). The bank lends Mandy the $810 credit that it has created. Mandy deposits the money in a checking account at another bank. The other bank must keep $81 as a reserve and has $729 available for loans. This creates a promise-to-pay money from a previous promise-to-pay, thus the M1 money supply is now inflated by $729. (MB = $900, M0 = 0, M1 = $2439, M2 = $2439). Mandy's bank now lends the money to someone else who deposits it on a checking account on yet another bank, who again stores 10% as reserve and has 90% available for loans. This process repeats itself at the next bank and at the next bank and so on, until the money in the reserves backs up an M1 money supply of $9000, which is 10 times the M0 money. (MB = $900, M0 = 0, M1 = $9000, M2 = $9000). ------M2: Laura writes check number 7774 for $1000 and brings it to the bank to start a Money Market account (these do not have a credit-creating charter), M1 goes down by $1000, but M2 stays the same. This is because M2 includes the Money Market account in addition to all money counted in M1. ------Foreign Exchange: Laura writes check number 7776 for $200 and brings it downtown to a foreign exchange bank teller at Credit Suisse to convert it to British Pounds. On this particular day, the exchange rate is exactly USD 2.00 = GBP 1.00. The bank Credit Suisse takes her $200 check, and gives her two £50 notes (and charges her a dollar for the service fee). Meanwhile, at the Credit Suisse branch office in Hong Kong, a customer named Huang has £100 and wants $200, and the bank does that trade (charging him an extra £.50 for the service fee). US M0 still has the $900, although Huang now has $200 of it. The £50 notes Laura walks off with are part of Britain's M0 money supply that came from Huang. The next day, Credit Suisse finds they have an excess of GB Pounds and a shortage of US Dollars, determined by adding up all the branch offices' supplies. They sell some of their GBP on the open FX market with Deutsche Bank, which has the opposite problem. The exchange rate stays the same. The day after, both Credit Suisse and Deutsche Bank find they have too many GBP and not enough USD, along with other traders. Then, To move their inventories, they have to sell GBP at USD 1.999, that is, 1/10 cent less than $2 per pound, and the exchange rate shifts. None of these banks has the power to increase or decrease the British M0 or the American M0; they are independent systems. [----M0: In some countries, such as the United Kingdom, M0 includes bank reserves, so M0 is referred to as the monetary base, or narrow money. ----MB: is referred to as the monetary base or total currency. This is the base from which other forms of money (like checking deposits, listed below) are created and is traditionally the most liquid measure of the money supply. ----M1: Bank reserves are not included in M1. ----M2: represents money and 'close substitutes' for money. M2 is a broader classification of money than M1. Economists use M2 when looking to quantify the amount of money in circulation and trying to explain different economic monetary conditions. M2 is a key economic indicator used to forecast inflation. ----M3: Since 2006, M3 is no longer tracked by the US central bank. However, there are still estimates produced by various private institutions. (M2 +large deposits and other large, long-term deposits). ----MZM: Money with zero maturity. It measures the supply of financial assets redeemable at par on demand. The ratio of a pair of these measures, most often M2/M0, is called an (actual, empirical) money multiplier. ] " - wikipedia.org
[ http://en.wikipedia.org/wiki/Money_supply ] Downloaded 14th June, 2011.
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[Quote No.36176] Need Area: Money > Invest
"Repurchase agreement: A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is the sale of securities together with an agreement for the seller to buy back the securities at a later date. The repurchase price should be greater than the original sale price, the difference effectively representing interest, sometimes called the repo rate. The party that originally buys the securities effectively acts as a lender. The original seller is effectively acting as a borrower, using their security as collateral for a secured cash loan at a fixed rate of interest. A repo is equivalent to a cash transaction combined with a forward contract. The cash transaction results in transfer of money to the borrower in exchange for legal transfer of the security to the lender, while the forward contract ensures repayment of the loan to the lender and return of the collateral of the borrower. The difference between the forward price and the spot price is effectively the interest on the loan while the settlement date of the forward contract is the maturity date of the loan. ----Structure and terminology: A repo is economically similar to a secured loan, with the buyer (effectively the lender or investor) receiving securities as collateral to protect him against default by the seller [in a similar way to the way a pawn shop works]. The party who initially sells the securities is effectively the borrower. Almost any security may be employed in a repo, though highly liquid securities are preferred as they are more easily disposed of in the event of a default and, more importantly, they can be easily obtained in the open market where the buyer has created a short position in the repo security by a reverse repo and market sale; by the same token, illiquid securities are discouraged. Treasury or Government bills, corporate and Treasury/Government bonds, and stocks may all be used as 'collateral' in a repo transaction. Unlike a secured loan, however, legal title to the securities passes from the seller to the buyer. Coupons (interest payable to the owner of the securities) falling due while the repo buyer owns the securities are, in fact, usually passed directly onto the repo seller. This might seem counterintuitive, as the legal ownership of the collateral rests with the buyer during the repo agreement. The agreement might instead provide that the buyer receives the coupon, with the cash payable on repurchase being adjusted to compensate, though this is more typical of sell/buybacks. Although the transaction is similar to a loan, and its economic effect is similar to a loan, the terminology differs from that applying to loans: the seller legally repurchases the securities from the buyer at the end of the loan term. However a key aspect of repos is that they are legally recognised as a single transaction (important in the event of counterparty insolvency) and not as a disposal and a repurchase for tax purposes. [Some of the specific industry terms include: Repo, Reverse Repo, Participant, Borrower, Lender, Seller, Buyer, Cash receiver, Cash provider, Sells securities, Buys securities, Near leg, Far leg.] -----Types of repo and related products: There are three types of repo maturities: overnight, term, and open repo. Overnight refers to a one-day maturity transaction. Term refers to a repo with a specified end date. Open simply has no end date. Although repos are typically short-term, it is not unusual to see repos with a maturity as long as two years. Repo transactions occur in three forms: specified delivery, tri-party, and held in custody. The third form is quite rare in developing markets primarily due to risks. The first form requires the delivery of a prespecified bond at the onset, and at maturity of the contractual period. Tri-party essentially is a basket form of transaction, and allows for a wider range of instruments in the basket or pool. Tri-party utilizes a tri-party clearing agent or bank and is a more efficient form of repo transaction. ----Due bill/hold in-custody repo: In a due bill repo, the collateral pledged by the (cash) borrower is not actually delivered to the cash lender. Rather, it is placed in an internal account ('held in custody') by the borrower, for the lender, throughout the duration of the trade. This has become less common as the repo market has grown, particularly owing to the creation of centralized counterparties. Due to the high risk to the cash lender, these are generally only transacted with large, financially stable institutions. ----Tri-party repo: The distinguishing feature of a tri-party repo is that a custodian bank or international clearing organization, the tri-party agent, acts as an intermediary between the two parties to the repo. The tri-party agent is responsible for the administration of the transaction including collateral allocation, marking to market, and substitution of collateral. In the US, the two principal tri-party agents are The Bank of New York Mellon and JP Morgan Chase. The size of the US tri-party repo market peaked in 2008 before the worst effects of the [global financial] crisis at approximately $2.8 trillion and by mid 2010 was about $1.6 trillion. As tri-party agents administer hundreds of billions of US$ of collateral, they have the scale to subscribe to multiple data feeds to maximise the universe of coverage. As part of a tri-party agreement the three parties to the agreement, the tri-party agent, the repo buyer and the repo seller agree to a collateral management service agreement which includes an 'eligible collateral profile'. It is this 'eligible collateral profile' that enables the repo buyer to define their risk appetite in respect of the collateral that they are prepared to hold against their cash. For example a more risk averse repo buyer may wish to only hold 'on-the-run' government bonds as collateral. In the event of a liquidation event of the repo seller the collateral is highly liquid thus enabling the repo buyer to sell the collateral quickly. A less risk averse repo buyer may be prepared to take non investment grade [so called 'high yield' or 'junk' corporate, etc] bonds or equities as collateral, these may be less liquid and may suffer a higher price volatility in the event of a repo seller default, making it more difficult for the repo buyer to sell the collateral and recover their cash. The tri-party agents are able to offer sophisticated collateral eligibility filters which allow the repo buyer to create these 'eligible collateral profiles' which can systemically generate collateral pools which reflect the buyer's risk appetite. Collateral eligibility criteria could include asset type, issuer, currency, domicile, credit rating, maturity, index, issue size, average daily traded volume, etc. Both the lender (repo buyer) and borrower (repo seller) of cash enter into these transactions to avoid the administrative burden of bi-lateral repos. In addition, because the collateral is being held by an agent, counterparty risk is reduced. A tri-party repo may be seen as the outgrowth of the due bill repo, in which the collateral is held by a neutral third party. ----Whole loan repo: A whole loan repo is a form of repo where the transaction is collateralized by a loan or other form of obligation (e.g. mortgage receivables) rather than a security. ----Equity repo: The underlying security for many repo transactions is in the form of government or corporate bonds. Equity repos are simply repos on equity securities such as common (or ordinary) shares. Some complications can arise because of greater complexity in the tax rules for dividends as opposed to coupons. ----Sell/buy backs and buy/sell backs: A sell/buy back is the spot sale and a forward repurchase of a security. It is two distinct outright cash market trades, one for forward settlement. The forward price is set relative to the spot price to yield a market rate of return. The basic motivation of sell/buy backs is generally the same as for a classic repo, i.e. attempting to benefit from the lower financing rates generally available for collateralized as opposed to non-secured borrowing. The economics of the transaction are also similar with the interest on the cash borrowed through the sell/buy back being implicit in the difference between the sale price and the purchase price. There are a number of differences between the two structures. A repo is technically a single transaction whereas a sell/buy back is a pair of transactions (a sell and a buy). A sell/buy back does not require any special legal documentation while a repo generally requires a master agreement to be in place between the buyer and seller (typically the SIFMA/ICMA commissioned Global Master Repo Agreement (GMRA)). For this reason there is an associated increase in risk compared to repo. Should the counterparty default, the lack of agreement may lessen legal standing in retrieving collateral. Any coupon payment on the underlying security during the life of the sell/buy back will generally be passed back to the seller of the security by adjusting the cash paid at the termination of the sell/buy back. In a repo, the coupon will be passed on immediately to the seller of the security. A buy/sell back is the equivalent of a 'reverse repo'. ----Securities lending: In securities lending, the purpose is to temporarily obtain the security for other purposes, such as covering short positions or for use in complex financial structures. Securities are generally lent out for a fee and securities lending trades are governed by different types of legal agreements than repos. Repos have traditionally been used as a form of collateralized loan and have been treated as such for tax purposes. Modern Repo agreements, however, often allow the cash lender to sell the security provided as collateral and substitute an equivalent security at repurchase. In this way the cash lender acts as a security borrower and the Repo agreement can be used to take a short position in the security very much like a security loan might be used. ----Reverse Repo: A reverse repo is simply the same repurchase agreement from the buyer's viewpoint, not the seller's. Hence, the seller executing the transaction would describe it as a 'repo', while the buyer in the same transaction would describe it a 'reverse repo'. So 'repo' and 'reverse repo' are exactly the same kind of transaction, just described from opposite viewpoints. The term 'reverse repo and sale' is commonly used to describe the creation of a short position in a debt instrument where the buyer in the repo transaction immediately sells the security provided by the seller on the open market. On the settlement date of the repo, the buyer acquires the relevant security on the open market and delivers it to the seller. In such a short transaction the seller is wagering that the relevant security will decline in value between the date of the repo and the settlement date. ----Uses: For the buyer, a repo is an opportunity to invest cash for a customized period of time (other investments typically limit tenures). It is short-term and safer as a secured investment since the investor receives collateral. Market liquidity for repos is good, and rates are competitive for investors. Money Funds are large buyers of Repurchase Agreements. For traders in trading firms, repos are used to finance long positions, obtain access to cheaper funding costs of other speculative investments, and cover short positions in securities. In addition to using repo as a funding vehicle, repo traders 'make markets'. These traders have been traditionally known as 'matched-book repo traders'. The concept of a matched-book trade follows closely to that of a broker who takes both sides of an active trade, essentially having no market risk, only credit risk. Elementary matched-book traders engage in both the repo and a reverse repo within a short period of time, capturing the profits from the bid/ask spread between the reverse repo and repo rates. Presently, matched-book repo traders employ other profit strategies, such as non-matched maturities, collateral swaps, and liquidity management. ----United States Federal Reserve [central bank] use of repos: Repurchase agreements when transacted by the Federal Open Market Committee of the Federal Reserve in open market operations adds reserves [increases money supply - liquidity] to the banking system and then after a specified period of time withdraws them; reverse repos initially drain reserves [money supply - liquidity] and later add them back. This tool can also be used to stabilize interest rates, and the Federal Reserve has used it to adjust the Federal funds rate to match the target rate. Under a repurchase agreement ('RP' or 'repo'), the Federal Reserve (Fed) buys U.S. Treasury securities, U.S. agency securities, or mortgage-backed securities from a primary dealer who agrees to buy them back, typically within one to seven days; a reverse repo is the opposite. Thus the Fed describes these transactions from the counterparty's viewpoint rather than from their own viewpoint. If the Federal Reserve is one of the transacting parties, the RP is called a 'system repo', but if they are trading on behalf of a customer (e.g. a foreign central bank) it is called a 'customer repo'. Until 2003 the Fed did not use the term 'reverse repo' — which it believed implied that it was borrowing money (counter to its charter) — but used the term 'matched sale' instead. ----Risks: While classic repos are generally credit-risk mitigated instruments, there are residual credit risks. Though it is essentially a collateralized transaction, the seller may fail to repurchase the securities sold at the maturity date. In other words, the repo seller defaults on his obligation. Consequently, the buyer may keep the security, and liquidate the security in order to recover the cash lent. The security, however, may have lost value since the outset of the transaction as the security is subject to market movements. To mitigate this risk, repos often are over-collateralized as well as being subject to daily mark-to-market margining. Conversely, if the value of the security rises there is a credit risk for the borrower in that the creditor may not sell them back. If this is expected to happen then the borrower may negotiate a repo which is under-collateralized. Credit risk associated with repo is subject to many factors: term of repo, liquidity of security, the strength of the counterparties involved, etc. Repo transactions came into focus within the financial press due to the technicalities of settlements following the collapse of Refco. Occasionally, a party involved in a repo transaction may not have a specific bond at the end of the repo contract. This may cause a string of failures from one party to the next [counter-party risk], for as long as different parties have transacted for the same underlying instrument. The focus of the media attention centers on attempts to mitigate these failures. ----History: In the US, Repos have been used from as early as 1917 when war time taxes made older forms of lending less attractive. At first Repos were used just by the Federal reserve to lend to other banks, but the practice soon spread to other market participants. The use of Repos expanded in the 1920s, fell away through the Great depression and WWII , then expanded once again in the 1950s, enjoying rapid growth in the 1970s and 1980s in part due to computer technology. ----Market size: The US Federal Reserve and the European Repo Council (a body of the International Capital Market Association - ICMA) both try to estimate the size of their respective repo markets. At the end of 2004, the U.S. repo market reached US$5 trillion. The European repo market has experienced consistent growth over the past five years, from €1.9 billion in 2001 to €6.4 trillion by the end of 2006, and is expected to continue significant growth due to Basel II, according to a 2007 Celent report entitled 'The European Repo Market'. Especially in the US and to a lesser degree in Europe, the repo market contracted in 2008 as a result of the [great] financial crisis. But by mid 2010 the market had largely recovered and at least in Europe had grown to exceed its pre-crisis peak. Other countries including Chile, India, Japan, Mexico, Hungary, Russia, China, and Taiwan, have their own repo markets, though activity varies by country, and no global survey or report has been compiled." - wikipedia.org
[ http://en.wikipedia.org/wiki/Repurchase_agreement ] Downloaded 14th June, 2011.
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[Quote No.36412] Need Area: Money > Invest
"'We are all Keynesians now' is a now-famous phrase coined by Milton Friedman and attributed to U.S. president Richard Nixon. It is popularly associated with the reluctant embrace in a time of financial crisis of Keynesian economics by individuals such as Nixon who had formerly favored monetarist policies. ---History of the phrase: The phrase was first attributed to Milton Friedman in the December 31, 1965 edition of 'Time' magazine. In the February 4, 1966 edition, Friedman wrote a letter clarifying that his original statement had been 'In one sense, we are all Keynesians now; in another, nobody is any longer a Keynesian.' In 1971, after taking the United States off the gold standard, Nixon was quoted as saying 'I am now a Keynesian in economics', which became popularly associated with Friedman's phrase. The phrase gained new life in the midst of the global financial crisis of 2008, when some economists and pundits called for massive investment in infrastructure and job creation as a means of economic stimulation. The February 2009 cover of 'Newsweek' played on the phrase with the headline, 'We are all socialists now,' referring to the growing trend of American politicians of both parties to favor the centralization of power through the mutual expansion of government. Graphically, this was symbolized by a cover picture featuring a red hand (Republican) shaking a blue hand (Democrat)." - wikipedia.org
http://en.wikipedia.org/wiki/We_are_all_Keynesians_now
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[Quote No.43164] Need Area: Money > Invest
"[The Austrian School of economics has an interesting understanding of how economies work that is different from the mainstreams of Keynesianism or monetarism and is therefore well worth exploring also.] The economists aligned with the Austrian School are sometimes colloquially called 'the Austrians' even though few hold Austrian citizenship, and not all economists from Austria subscribe to the ideas of the Austrian School. [A number of highly respected and successful investors are Austrian economists including Jim Rogers and Marc Faber. An incomplete list of some other well-known Austrian economists can be found at the free encyclopedia site, wikipedia - http://en.wikipedia.org/wiki/List_of_Austrian_School_economists ]" - Wikipedia.org

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[Quote No.43165] Need Area: Money > Invest
"Austrian business cycle theory: --- The Austrian business cycle theory (or ABCT) attempts to explain business cycles through a set of ideas held by the Austrian School of economics. The theory views business cycles as the inevitable consequence of excessive growth in bank credit, exacerbated by inherently damaging and ineffective central bank policies, which cause interest rates to remain too low for too long, resulting in excessive credit creation, speculative economic bubbles and lowered savings. The creator of the Austrian business cycle theory was Austrian School economist and Nobel laureate Friedrich Hayek. Hayek won a Nobel Prize in economics in 1974 (shared with Gunnar Myrdal) in part for his work on this theory. Proponents believe that a sustained period of low interest rates and excessive credit creation results in a volatile and unstable imbalance between saving and investment. According to the theory, the business cycle unfolds in the following way: Low interest rates tend to stimulate borrowing from the banking system. This expansion of credit causes an expansion of the supply of money, through the money creation process in a fractional reserve banking system. It is argued that this leads to an unsustainable credit-sourced boom during which the artificially stimulated borrowing seeks out diminishing investment opportunities. Proponents hold that a credit-sourced boom results in widespread malinvestments. In the theory, a correction or ‘credit crunch’ – commonly called a ‘recession’ or ‘bust’ – occurs when exponential credit creation cannot be sustained. Then the money supply suddenly and sharply contracts when markets finally ‘clear’, causing resources to be reallocated back towards more efficient uses. The Austrian explanation of the business cycle differs significantly from the mainstream understanding of business cycles and is generally rejected by mainstream economists. In contrast to most mainstream theories on business cycles, Austrians focus on the credit cycle as the primary cause of most business cycles. Economists Milton Friedman [an economist who rejected Keynesian macroeconomics for his own economic theory called monetarism], Gordon Tullock [an economist known for his work on public choice theory], Bryan Caplan [ironically a self-described economist of the Austrian School, but one particularly interested in public choice theory], and Paul Krugman [a Nobel laureate in economics with acknowledged Keynesian sympathies] have written about why they regard the theory as incorrect. According to Austrian economist [and highly regarded anarcho-capitalist libertarian] Murray Rothbard, the Austrian business cycle theory attempts to answer the following questions about things which Austrians believe appear over the course of a business cycle. --1-- Why is there a sudden general cluster of business errors? --2-- Why do capital goods industries and asset market prices fluctuate more widely than do the consumer goods industries and consumer prices? --3-- Why is there a general increase in the quantity of money in the economy during every boom, and why is there generally, though not universally, a fall in the money supply during the depression (or a sharp contraction in the growth of credit in a recession)? --- Assertions: --- According to the theory, the boom-bust cycle of malinvestment is generated by excessive and unsustainable credit expansion to businesses and individual borrowers by the banks. This credit creation makes it appear as if the supply of ‘saved funds’ ready for investment has increased, for the effect is the same: the supply of funds for investment purposes increases, and the interest rate is lowered. Borrowers, in short, are misled by the bank inflation into believing that the supply of saved funds (the pool of ‘deferred’ funds ready to be invested) is greater than it really is. When the pool of ‘saved funds’ increases, entrepreneurs invest in ‘longer process of production,’ i.e., the capital structure is lengthened, especially in the ‘higher orders’, most remote from the consumer. Borrowers take their newly acquired funds and bid up the prices of capital and other producers' goods, which, in the theory, stimulates a shift of investment from consumer goods to capital goods industries. Austrian economists further contend that such a shift is unsustainable and must reverse itself in due course. Proponents of the theory conclude that the longer the unsustainable shift in capital goods industries continues, the more violent and disruptive the necessary re-adjustment process. While agreeing with economist Tyler Cowen, Bryan Caplan has stated that he also denies ‘that the artificially stimulated investments have any tendency to become malinvestments.’ The preference by entrepreneurs for longer term investments can be shown graphically by using any discounted cash flow model. Lower interest rates increase the relative value of cash flows that come in the future. When modelling an investment opportunity, if interest rates are artificially low, entrepreneurs are led to believe the income they will receive in the future is sufficient to cover their near term investment costs. Therefore, investments that would not make sense with a 10% cost of funds become feasible with a prevailing interest rate of 5%. The proportion of consumption to saving or investment is determined by people's time preferences, which is the degree to which they prefer present to future satisfactions. Thus, the pure interest rate is determined by the time preferences of the individuals in society, and the final market rates of interest reflect the pure interest rate plus or minus the entrepreneurial risk and purchasing power components. Many entrepreneurs can make the same mistake at the same time (i.e. many believe investment funds are really available for long term projects when in fact the pool of available funds has come from credit creation - not real savings out of the existing money supply) because the debasement of the means of exchange is universal. As they are all competing for the same pool of capital and market share, some entrepreneurs begin to borrow simply to avoid being ‘overrun’ by other entrepreneurs who may take advantage of the lower interest rates to invest in more up-to-date capital infrastructure. A tendency towards over-investment and speculative borrowing in this ‘artificial’ low interest rate environment is therefore almost inevitable. This new money then percolates downward from the business borrowers to the factors of production: to the landowners and capital owners who sold assets to the newly indebted entrepreneurs, and then to the other factors of production in wages, rent, and interest. Austrians conclude that, since time preferences have not changed, people will rush to reestablish the old proportions [of consuming to saving], and demand will shift back from the higher [producer goods] to the lower orders [consumer goods]. In other words, depositors will tend to remove cash from the banking system and spend it (not save it), banks will then ask their borrowers for payment and interest rates and credit conditions will deteriorate. Austrians argue that capital goods industries will find that their investments have been in error; that what they thought profitable really fails for lack of demand by their entrepreneurial customers. Higher orders of production [producer – capital goods rather than consumer – retail goods] will have turned out to be wasteful, and the malinvestment must be liquidated. In other words, the particular TYPES of investments made during the monetary boom were inappropriate and ‘wrong’ from the perspective of the long-term financial sustainability of the market because the price signals stimulating the investment were distorted by fractional reserve banking's recursive lending ‘ballooning’ the pricing structure in various capital markets. This concept is dependent on the notion of the ‘heterogeneity of capital’, where Austrians emphasize that the mere macroeconomic ‘total’ of investment does not adequately capture whether this investment is genuinely sustainable or productive, due to the inability of the raw numbers to reveal the particular investment activities being undertaken and the inherent inability of the numbers to reveal whether these particular investment activities were appropriate and economically sustainable given people's real preferences. Austrians argue that a boom taking place under these circumstances is actually a period of wasteful malinvestment, a ‘false boom’ where the particular kinds of investments undertaken during the period of fiat money expansion are revealed to lead nowhere but to insolvency and unsustainability. It is the time when errors are made, when speculative borrowing has driven up prices for assets and capital to unsustainable levels, due to low interest rates ‘artificially’ increasing the money supply and triggering an unsustainable injection of fiat money ‘funds’ available for investment into the system, thereby tampering with the complex pricing mechanism of the free market. ‘Real’ savings would have required higher interest rates to encourage depositors to save their money in term deposits to invest in longer term projects under a stable money supply. According to [Ludwig von] Mises's work, the artificial stimulus caused by bank-created credit causes a generalized speculative investment bubble, not justified by the long-term structure of the market. Mises further argues that a ‘crisis’ (or ‘credit crunch’) arrives when the consumers come to reestablish their desired allocation of saving and consumption at prevailing interest rates. Mises conjectured that the ‘recession’ or ‘depression’ is actually the process by which the economy adjusts to the wastes and errors of the monetary boom, and reestablishes efficient service of sustainable consumer desires. Austrians argue that continually expanding bank credit can keep the borrowers one step ahead of consumer retribution (with the help of successively lower interest rates from the central bank). In the theory, this postpones the ‘day of reckoning’ and defers the collapse of unsustainably inflated asset prices. It can also be temporarily put off by exogenous events such as the ‘cheap’ or free acquisition of marketable resources by market participants and the banks funding the borrowing (such as the acquisition of land from local governments, or in extreme cases, the acquisition of foreign land through the waging of war). Austrians argue that the monetary boom ends when bank credit expansion finally stops - when no further investments can be found which provide adequate returns for speculative borrowers at prevailing interest rates. They further argue that the longer the ‘false’ monetary boom goes on, the bigger and more speculative the borrowing, the more wasteful the errors committed and the longer and more severe will be the necessary bankruptcies, foreclosures, and depression readjustment [including unemployment]. Austrians do not claim that fiscal restraint or ‘austerity’ will bring about economic growth. Rather, they argue that all attempts by central governments to prop up asset prices, bail out insolvent banks, or ‘stimulate’ the economy with deficit spending will only make the misallocations and malinvestments worse, prolonging the depression and adjustment necessary to return to stable growth [for example Japan’s wasted two decades after their 1980 crack-up boom then bust, which was never allowed to truly correct due to government stimulus, money printing and refusal to write down over-valued collateral within the banks]. Austrians argue the policy error rests in the government's (and central bank's) weakness or negligence in allowing the ‘false’ unsustainable credit-fueled boom to begin in the first place, not in having it end with fiscal and monetary ‘austerity’. Debt liquidation is therefore the only solution to a debt-fueled problem. According to Ludwig von Mises: ‘There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of the voluntary abandonment of further credit expansion [i.e. Keynesian stimulus or Friedmanite monetarism], or later as a final and total catastrophe of the currency system involved.’ --- Austrian interpretations: --- Roger Garrison argues that a false boom caused by artificially low interest rates would cause a boom in consumption goods as well as investment goods (with a decrease in ‘middle goods’). --- The role of central banks: --- Austrians generally argue that inherently damaging and ineffective central bank policies, including unsustainable expansion of bank credit through fractional reserve banking, are the predominant cause of most business cycles, as they tend to set artificial interest rates too low for too long, resulting in excessive credit creation, speculative ‘bubbles’, and artificially low savings [especially if the private banks, central bank and government are able to make up the domestic savings shortfall by borrowing from overseas, increasing net foreign debt]. Under fiat monetary systems, a central bank creates new money when it lends to member banks, and this money is multiplied many times over through the money creation process of the private banks. This new bank-created money enters the loan market and provides a lower rate of interest than that which would prevail if the money supply were stable. However, Murray Rothbard paid particular attention to the role of central banks in creating an environment of loose credit prior to the onset of the Great Depression, and the subsequent ineffectiveness of central bank policies, which simply delayed necessary price adjustments and prolonged market dysfunction. Rothbard begins with the premise that in a market with no centralized monetary authority, there would be no simultaneous cluster of malinvestments or entrepreneurial errors, since astute entrepreneurs would not all make errors at the same time and would quickly take advantage of any temporary, isolated mispricing. In addition, in an open, non-centralized (uninsured) [i.e. central banks normally do repo’s to provide liquidity in difficult times, which increases ‘moral hazard’ because banks more willing to do risky loans with that backstop] capital market, astute bankers would shy away from speculative lending and uninsured depositors would carefully monitor the balance sheets of risky financial institutions, tempering any speculative excesses that arose sporadically in the finance markets. In Rothbard's view, the cycle of generalized malinvestment is greatly exacerbated by centralized monetary intervention in the money markets by the central bank. Such propositions from Rothbard prompted criticism from Bryan Caplan, who questions ‘Why does Rothbard think businessmen are so incompetent at forecasting government policy? He credits them with entrepreneurial foresight about all market-generated conditions, but curiously finds them unable to forecast government policy, or even to avoid falling prey to simple accounting illusions generated by inflation and deflation... Particularly in interventionist economies, it would seem that natural selection would weed out businesspeople with such a gigantic blind spot.’ Rothbard argues that an over-encouragement to borrow and lend is initiated by the mispricing of credit via the central bank's centralized control over interest rates and its need to protect banks from periodic bank runs (which Austrians believe then causes interest rates to be set too low for too long when compared to the rates that would prevail in a genuine non-central bank dominated free market). --- History: --- A similar theory first appeared in the last few pages of Mises's ‘The Theory of Money and Credit’ (1912). This early development of Austrian business cycle theory was a direct manifestation of Mises's rejection of the concept of neutral money and emerged as an almost incidental by-product of his exploration of the theory of banking. David Laidler has observed in a chapter on the theory that the origins lie in the ideas of Knut Wicksell. Nobel laureate Hayek's presentation of the theory in the 1930s was criticized by many economists, including John Maynard Keynes, Piero Sraffa, and Nicholas Kaldor. In 1932, Piero Sraffa argued that Hayek's theory did not explain why ‘forced savings’ induced by inflation would generate investments in capital that were inherently less sustainable than those induced by voluntary savings. Sraffa also argued that Hayek's theory failed to define a single ‘natural’ rate of interest that might prevent a period of growth from leading to a crisis. Others who responded critically to Hayek's work on the business cycle included John Hicks, Frank Knight, and Gunnar Myrdal. Hayek reformulated his theory in response to those objections. Austrian economist Roger Garrison explains the origins of the theory: ‘Grounded in the economic theory set out in Carl Menger's ‘Principles of Economics’ and built on the vision of a capital-using production process developed in Eugen von Böhm-Bawerk's ‘Capital and Interest’, the Austrian theory of the business cycle remains sufficiently distinct to justify its national identification. But even in its earliest rendition in Mises's ‘Theory of Money and Credit’ and in subsequent exposition and extension in F. A. Hayek's ‘Prices and Production’, the theory incorporated important elements from Swedish and British economics. Knut Wicksell's ‘Interest and Prices’, which showed how prices respond to a discrepancy between the bank rate and the real rate of interest, provided the basis for the Austrian account of the misallocation of capital during the boom. The market process that eventually reveals the intertemporal misallocation and turns boom into bust resembles an analogous process described by the British Currency School, in which international misallocations induced by credit expansion are subsequently eliminated by changes in the terms of trade and hence in specie [money in coin] flow.’ A popularized version of the theory is presented in Murray Rothbard's pamphlet ‘Economic Depressions: Their Cause and Cure’, which endeavors to explain the business cycle by focusing on excessive bank-sourced credit expansion and centralized government intervention (through the actions of a central bank). Rothbard went into much greater detail in his book ‘What Has Government Done to Our Money?’. Ludwig von Mises and Friedrich Hayek were two of the few economists who gave warning of a major economic crisis before the great crash of 1929. In February 1929, Hayek warned that a coming financial crisis was an unavoidable consequence of reckless monetary expansion. Austrian School economist Peter J. Boettke argues that the Fed is making a mistake by not letting consumer prices fall. According to him, Fed's policy of reducing interest rates to below-market-level when there was a chance of deflation in the early 2000s together with government policy of subsidizing homeownership resulted in unwanted asset inflation. Financial institutions leveraged up to increase their returns in the environment of below market interest rates. Boettke further argues that government regulation through credit rating agencies enabled financial institutions to act irresponsibly and invest in securities that would perform only if the prices in the housing market continued to rise. However, once the interest rates went back up to the market level prices in the housing market began to fall and soon afterwards financial crisis ensued. Boettke attributes failure to policy makers who assumed that they had the necessary knowledge to make positive interventions in the economy. The Austrian School view is that government attempts to influence markets prolong the process of needed adjustment and reallocation of resources to more productive uses. In this view bailouts serve only to distribute wealth to the well-connected, while long-term costs are borne out by the majority of the ill-informed public. Economist Steve H. Hanke identifies the 2007-2010 Global Financial Crises as the direct outcome of the Federal Reserve Bank's interest rate policies as is predicted by the Austrian business cycle theory. Some analysts such as Jerry Tempelman have also argued that the predictive and explanatory power of ABCT in relation to the Global Financial Crisis has reaffirmed its status and perhaps cast into question the utility of mainstream theories and critiques. --- Empirical research: --- Empirical research by economists regarding the accuracy of the Austrian business cycle theory has generated disparate conclusions, though most research within mainstream economics regarding the theory concludes that the theory is inconsistent with empirical evidence. In 1969, Milton Friedman argued that the theory is not consistent with empirical evidence. He analyzed the issue using newer data in 1993, and reached the same conclusion. In 2001, Austrian economist James P. Keeler argued that the theory is consistent with empirical evidence. In 2006, Austrian economist Robert Mulligan argued that the theory is consistent with empirical evidence. According to most economic historians, economies have experienced less severe boom-bust cycles after World War II, because governments have addressed the problem of economic recessions. They argue that this has especially been true since the 1980s because central banks were granted more independence and started using monetary policy to stabilize the business cycle, an event known as The Great Moderation. --- Influence: --- The Austrian explanation of the business cycle varies significantly from the current mainstream understanding of business cycles, and is generally rejected by mainstream economists. According to Nicholas Kaldor, Hayek's work on the Austrian business cycle theory had at first ‘fascinated the academic world of economists,’ but attempts to fill in the gaps in theory led to the gaps appearing ‘larger, instead of smaller,’ until ultimately ‘one was driven to the conclusion that the basic hypothesis of the theory, that scarcity of capital causes crises, must be wrong.’ After 1941, Hayek abandoned his research in macroeconomics altogether, focusing instead on issues of the economics of information, political philosophy, and the theory of law. Lionel Robbins, who had embraced the Austrian theory of the business cycle in ‘The Great Depression’ (1934), later regretted having written that book and accepted many of the Keynesian counterarguments. The late-2000s financial crisis has resulted in a revival of interest in the Austrian business cycle theory, but has also resulted in a revival of interest of theories more critical of Austrian theory, such as those promoted by Keynesian economics. According to Austrian School supporters, over 25 Austrian School economists are publicly on record as having accurately predicted a housing bubble prior to new home prices reaching their peak in March 2007. Austrian economics received media attention after Congressman and Presidential candidate Ron Paul, was praised by MSNBC's Joe Scarborough for predicting the housing bubble and financial crisis and Paul subsequently appeared on Scarborough's 'Morning Joe' show and credited his understanding of Austrian economics for predicting the financial crisis. --- Similar theories: --- The Austrian theory is considered one of the precursors to the modern credit cycle theory, which is emphasized by Post-Keynesian economists, economists at the Bank for International Settlements, and by a few mainstream academics such as Hyman Minsky and Charles P. Kindleberger. These two emphasize asymmetric information and agency problems. Henry George, another precursor, emphasized the negative impact of speculative increases in the value of land, which places a heavy burden of mortgage payments on consumers and companies. A different theory of credit cycles is the debt-deflation theory of Irving Fisher, which is today placed in the Post-Keynesian tradition. The difference between these may be stated as debt-deflation being a DEMAND-side theory, which emphasizes the period AFTER the peak – the end of a credit bubble and contraction of debt causing a fall in aggregate demand – while the Austrian theory is a SUPPLY-side theory, which emphasizes the period BEFORE the peak – the growth of debt during the growth phase causing malinvestment. The theories may thus be seen as complementary, addressing different aspects of the issue, and are so-considered by some economists. In 2003 Barry Eichengreen laid out modern credit boom theory as a cycle in which loans increase as the economy expands, particularly where regulation is weak, and through these loans money supply increases. Inflation remains low, however, because of either a pegged exchange rate or a supply shock, and thus the central bank does not tighten credit and money. Increasingly speculative loans are made as diminishing returns lead to reduced yields. Eventually inflation begins or the economy slows, and when asset prices decline, a bubble is pricked which encourages a macroeconomic bust. In 2006 William White argued that ‘financial liberalization has increased the likelihood of boom-bust cycles of the Austrian sort’. While White conceded that the status quo policy had been successful in reducing the impacts of busts, he commented that the view on inflation should perhaps be longer term and that the excesses of the time seemed dangerous. In addition, White believes that the Austrian explanation of the business cycle might be relevant once again in an environment of excessively low interest rates. According to the theory, a sustained period of low interest rates and excessive credit creation results in a volatile and unstable imbalance between saving and investment. --- Related policy proposals: --- Many proponents of the Austrian School business cycle theory advocate free banking or an elimination of fractional-reserve banking with a 100% reserve requirement with a free-banking system based on a commodity-money standard. If the central bank-fiat money system is maintained, they suggest heavy regulation of the banking system, enforcing a policy of full reserves on all deposit-taking institutions, or at least higher reserve requirements on all banks. Proponents of the theory generally oppose deregulation of the financial system without the prior abolition of central banks and the removal of deposit insurance. --- Criticisms: --- According to most mainstream economists, the Austrian business cycle theory is incorrect. Some mainstream economists argue that the Austrian business cycle theory requires bankers and investors to exhibit a kind of irrationality, because their theory requires bankers to be regularly fooled into making unprofitable investments by temporarily low interest rates. In response, historian Thomas Woods argues that few bankers and investors are familiar enough with the Austrian business cycle theory to consistently make sound investment decisions. Austrian economists Anthony Carilli and Gregory Dempster argue that a banker or firm loses market share if it does not borrow or loan at a magnitude consistent with current interest rates, regardless of whether rates are below their natural levels. Thus businesses are forced to operate as though rates were set appropriately, because the consequence of a single entity deviating would be a loss of business. Austrian economist Robert Murphy argues that it is difficult for bankers and investors to make sound business choices because they cannot know what the interest rate would be if it were set by the market. Austrian economist Sean Rosenthal argues that widespread knowledge of the Austrian business cycle theory increases the amount of malinvestment during periods of artificially low interest rates. Economist Paul Krugman has argued that the theory cannot explain changes in unemployment over the business cycle. Austrian business cycle theory postulates that business cycles are caused by the misallocation of resources from consumption to investment during ‘booms’, and out of investment during ‘busts’. Krugman argues that because total spending is equal to total income in an economy, the theory implies that the reallocation of resources during ‘busts’ would increase employment in consumption industries, whereas in reality, spending declines in all sectors of an economy during recessions. He also argues that according to the theory the initial ‘booms’ would also cause resource reallocation, which implies an increase in unemployment during booms as well. In response, Austrian economist David Gordon argues that Krugman's argument is dependent on a misrepresentation of the theory. He furthermore argues that prices on consumption goods may go up as a result of the investment bust, which could mean that the amount spent on consumption could increase even though the quantity of goods consumed has not. Many Austrians also argue that capital allocated to investment goods cannot be quickly augmented to create consumption goods. Economist Jeffery Hummel is critical of Hayek's explanation of labor asymmetry in booms and busts. He argues that Hayek makes peculiar assumptions about demand curves for labor in his explanation of how a decrease in investment spending creates unemployment. He also argues that the labor asymmetry can be explained in terms of a change in real wages, but this explanation fails to explain the business cycle in terms of resource allocation. Hummel also argues that the Austrian explanation of the business cycle fails on empirical grounds. In particular, he notes that investment spending remained positive in all recessions where there are data, except for the Great Depression. He argues that this casts doubt on the notion that recessions are caused by a reallocation of resources from industrial production to consumption, since he argues that the Austrian business cycle theory implies that net investment should be below zero during recessions. In response, Austrian economist Walter Block argues that the misallocation during booms does not preclude the possibility of demand increasing overall. Critics have also argued that, as the Austrian business cycle theory points to the actions of fractional-reserve banks and central banks to explain the business cycles, it fails to explain the severity of business cycles before the establishment of the Federal Reserve in 1913. Supporters of the Austrian business cycle theory respond that the theory applies to the expansion of the money supply, not necessarily an expansion done by a central bank. Historian Thomas Woods argues that the crashes were caused by various privately-owned banks with state charters that issued paper money, supposedly convertible to gold, in amounts greatly exceeding their gold reserves. In 1969, economist Milton Friedman, after examining the history of business cycles in the U.S., concluded that ‘The Hayek-Mises explanation of the business cycle is contradicted by the evidence. It is, I believe, false.’ He analyzed the issue using newer data in 1993, and again reached the same conclusion. Austrian economist Jesus Huerta de Soto argued that Friedman's conclusions are based on misleading data (such as GDP). Austrian economist Roger Garrison argued that Friedman misinterpreted economic aggregates and how they related to the business cycles he reviewed." - Wikipedia.org
Retrieved 29th June, 2012. [http://en.wikipedia.org/wiki/Austrian_business_cycle_theory ]
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[Quote No.43552] Need Area: Money > Invest
"[Current Account:] In economics, the current account is one of the two primary components of the balance of payments, the other being capital account. It is the sum of the balance of trade (net earnings on exports minus payments for imports), factor income (earnings on foreign investments minus payments made to foreign investors) and cash transfers. The current account balance is one of two major measures of the nature of a country's foreign trade (the other being the net capital outflow). A current account surplus increases a country's net foreign assets by the corresponding amount, and a current account deficit does the reverse. Both government and private payments are included in the calculation. It is called the current account because goods and services are generally consumed in the current period. The balance of trade is the difference between a nation's exports of goods and services and its imports of goods and services, if all financial transfers, investments and other components are ignored. A nation is said to have a trade deficit if it is importing more than it exports. Positive net sales abroad generally contributes to a current account surplus; negative net sales abroad generally contributes to a current account deficit. Because exports generate positive net sales, and because the trade balance is typically the largest component of the current account, a current account surplus is usually associated with positive net exports. This however is not always the case with secluded economies such as that of Australia featuring an income deficit larger than its trade surplus. [It is time to worry if the balance of trade is already negative and the current-account is also negative, because the country, for example Japan, would then need to depend on foreign capital to make up the deficit and that could be a problem if sovereign bond interest rates are too low for example Japan in 2012 with 0% interest rates. Then foreign investors would demand higher interest rates and this would drive down existing bond prices held, by for example banks and insurance companies, as collateral for loans at the same time the government would have to pay more to borrow possibly creating a fiscal deficit needing taxes to rise and all the flow on effects to the economy and GDP, with the potential to trigger recession and increases in unemployment, etc, etc!]" - Wikipedia.org

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[Quote No.51967] Need Area: Money > Invest
"[Just before his death in 1946, Keynes, who founded Keynesian economic theory, which advocates and justifies statist government intervention in the economy, for example through massive deficit spending, during a recession in opposition to Hayekian-Austrian laissez faire 'hands-off' economic theory and public policy] told Henry Clay, a professor of Social Economics and Advisor to the Bank of England [1] of his hopes that Adam Smith's 'invisible hand' - rather than his ideas of government intervention - can help Britain out of the economic hole it is in:] I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.[2] [Since then many free market, including Austrian, economists have state that 'even Keynes was not a Keynesian at his death' as he realised he was wrong, but this has not stopped power-hungry politicians and bureaucrats using his ideas as stated in Keynesian theory, which even he lost belief in - to intervene economically and increase their power and ability to choose the winners that suit them politically.] " - wikipedia.org
[1]--- Sayers, Richard (1976). The Bank of England, 1891–1944, Volume 1; [2]--- 'After the War, The World Bank, the IMF, and the End, 1945 to 1946'. [Refer http://en.wikipedia.org/wiki/John_Maynard_Keynes ]
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[Quote No.59656] Need Area: Money > Invest
"In finance, the capital structure substitution theory (CSS) describes the relationship between earnings, stock price and capital structure of public companies. The CSS theory hypothesizes that managements of public companies manipulate capital structure such that earnings per share (EPS) are maximized. Managements have an incentive to do so because shareholders and analysts value EPS growth. The theory is used to explain trends in capital structure, stock market valuation, dividend policy, the monetary transmission mechanism, and stock volatility, and provides an alternative to the Modigliani–Miller theorem that has limited descriptive validity in real markets. The CSS theory is only applicable in markets where share repurchases are allowed. Investors can use the CSS theory to identify undervalued stocks. [The theory explains the so called 'Fed Model' of comparing earning yields of companies to bonds to determine if they are over or under valued and the use of monetary-interest policy to boost or restrict the 'animal spirits' - exuberance - of the stock market.] " - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Capital_structure_substitution_theory ]
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[Quote No.35989] Need Area: Money > General
"Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents. Common foreign exchange controls include: -Fixed exchange rates -Restrictions on the amount of currency that may be imported or exported -Banning the use of foreign currency within the country -Banning locals from possessing foreign currency -Restricting currency exchange to government-approved exchangers Countries with foreign exchange controls are also known as 'Article 14 countries,' after the provision in the International Monetary Fund [IMF]agreement allowing exchange controls for transitional economies. Such controls used to be common in most countries, particularly poorer ones, until the 1990s when free trade and globalization started a trend towards economic liberalization. Today, countries which still impose exchange controls are the exception rather than the rule." - wikipedia.org

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[Quote No.36030] Need Area: Money > General
"A mixed economy is an economy that includes a variety of private and public control, reflecting characteristics of both capitalism [known for free market economies] and socialism [known for planned economies]. Most mixed economies can be described as market economies with strong regulatory oversight, in addition to having a variety of government sponsored aspects. See elements of a mixed economy. There is not one single definition for a mixed economy, but the definitions always involve a degree of private economic freedom mixed with a degree of government regulation of markets. The relative strength or weakness of each component in the national economy can vary greatly between countries. Economies ranging from the United States to Cuba have been termed mixed economies. The economic freedom side includes privately owned industry for reasons including individual freedom, economic efficiency (most especially the allocative efficiency provided by the invisible hand of markets), and the incentive to innovate provided by competition. The government regulation side addresses concerns that the private sector cannot be (or at least has never yet been) well equipped to address, such as environmental protection, maintenance of employment standards, and maintenance of competition. In some mixed economies, it even includes various degrees of centralized economic planning, that is, state ownership of some of the means of production for national or social objectives. Mixed economies as an economic ideal are supported by people of various political persuasions, typically centre-left and centre-right, such as social democrats or Christian democrats. Supporters view mixed economies as a compromise between classic socialism and pure laissez-faire [free market] capitalism." - wikipedia.org

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[Quote No.54213] Need Area: Money > General
"[True story after true story: about focus, drive and persistence overcoming a poor and/or difficult childhood to rise to immense leadership power and success:-] Inspirational Rags-to-Riches Stories from the distant past

- Genghis Khan, who was homeless with just his mother and his siblings. He went on to create the largest land empire in history.

- The Roman Emperor Diocletian, born in poverty and whose father was a former slave (by some sources, the emperor himself was born in slavery).

- Pope Leo III was of commoner origin and attained the high position in spite of violent opposition from the nobility, who considered the papacy as their preserve.

- Pope Gregory VII, Hildebrand, was a commoner, perhaps the son of a blacksmith. His bad reputation was partially due to horror at his high social mobility.

- Chandragupta Maurya of India, who from a humble beginning founded the Maurya Empire.

- China's Hongwu Emperor and Emperor Gaozu of Han, who were born into peasant families, but eventually founded two of the nation's most illustrious imperial dynasties.

- Nader Shah, founder of the Afsharid dynasty, also known as the Last Great Conqueror from Asia.

- Toyotomi Hideyoshi, a famous example in modern times, as a he unified pre-modern Japan.

" - wikipedia.org
[http://en.wikipedia.org/wiki/Rags_to_riches ]
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[Quote No.52221] Need Area: Work > Leadership
"[A true story - with a message about the Golden Rule of treating others the way you'd like to be treated in the same situation and leading by example.] - Tetsugen Doko - Tetsugen, a devotee of Zen in Japan, decided to publish the sutras, which at that time were available only in Chinese. The books were to be printed with wood blocks in an edition of seven thousand copies, a tremendous undertaking. Tetsugen began by travelling and collecting donations for this purpose. A few sympathizers would give him a hundred pieces of gold, but most of the time he received only small coins. He thanked each donor with equal gratitude. After ten years Tetsugen had enough money to begin his task. It happened that at that time the Uji River overflowed. Famine followed. Tetsugen took the funds he had collected for the books and spent them to save others from starvation. Then he began again his work of collecting. Several years afterward an epidemic spread over the country. Tetsugen again gave away what he had collected. For a third time he started his work, and after twenty years his wish was fulfilled. The printing blocks which produced the first edition of sutras can be seen today in Obaku monastery in Kyoto. The Japanese tell their children that Tetsugen made three sets of sutras, and that the first two invisible sets surpass even the last." - wikipedia.org
Tetsugen Dōkō (1630 – 1682) was a Japanese Zen Master, and an important early leader of the Ōbaku school of Buddhism. Tetsugen was born in the seventh year of the Kan'ei era (1630) in Higo Province. He became a priest of the Jodo Shinshu sect at the age of 13. When Ingen came to Japan, Tetsugen became his follower in the Ōbaku school. In 1681, Tetsugen oversaw the production of the first complete woodcut edition (consisting of around 60,000 pieces) of the Chinese Buddhist sutras in Japan. Tetsugen died at the age of 53 in the second year of the Tenna era (1682). The anniversary of Tetsugen's birth is celebrated on January 1 in the Western calendar. [refer http://en.wikipedia.org/wiki/Tetsugen_Doko ]
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[Quote No.54214] Need Area: Work > Leadership
"[True story after true story: about focus, drive and persistence overcoming a poor and/or difficult childhood to rise to immense leadership power and success:] Inspirational Rags-to-Riches Stories from the distant past!

- Genghis Khan, who was homeless with just his mother and his siblings. He went on to create the largest land empire in history.

- The Roman Emperor Diocletian, born in poverty and whose father was a former slave (by some sources, the emperor himself was born in slavery).

- Pope Leo III was of commoner origin and attained the high position in spite of violent opposition from the nobility, who considered the papacy as their preserve.

- Pope Gregory VII, Hildebrand, was a commoner, perhaps the son of a blacksmith. His bad reputation was partially due to horror at his high social mobility.

- Chandragupta Maurya of India, who from a humble beginning founded the Maurya Empire.

- China's Hongwu Emperor and Emperor Gaozu of Han, who were born into peasant families, but eventually founded two of the nation's most illustrious imperial dynasties.

- Nader Shah, founder of the Afsharid dynasty, also known as the Last Great Conqueror from Asia.

- Toyotomi Hideyoshi, a famous example in modern times, as a he unified pre-modern Japan.

" - wikipedia.org
[http://en.wikipedia.org/wiki/Rags_to_riches ]
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[Quote No.69163] Need Area: Work > Leadership
"[Big History - history from the beginning of time and the universe through to the present and on into the future with your life's contribution and beyond; progress; futurology; futurist; science and science-fiction:-]

Futures studies, futures research, futurism or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends, often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies (colloquially called 'futures' by many of the field's practitioners) seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.

... Futurology is an interdisciplinary field that aggregates and analyzes trends, with both lay and professional methods, to compose possible futures. It includes analyzing the sources, patterns, and causes of change and stability in an attempt to develop foresight. Around the world the field is variously referred to as futures studies, futures research, strategic foresight, futuristics, futures thinking, futuring, and futurology. Futures studies and strategic foresight are the academic field's most commonly used terms in the English-speaking world.

Foresight was the original term and was first used in this sense by H.G. Wells in 1932. 'Futurology' is a term common in encyclopedias, though it is used almost exclusively by nonpractitioners today, at least in the English-speaking world. 'Futurology' is defined as the 'study of the future.' The term was coined by German professor Ossip K. Flechtheim in the mid-1940s, who proposed it as a new branch of knowledge that would include a new science of probability. This term has fallen from favor in recent decades because modern practitioners stress the importance of alternative, plausible, preferable and plural futures, rather than one monolithic future, and the limitations of prediction and probability, versus the creation of possible and preferable futures.

Three factors usually distinguish futures studies from the research conducted by other disciplines (although all of these disciplines overlap, to differing degrees). First, futures studies often examines trends to compose possible, probable, and preferable futures along with the role 'wild cards' can play on future scenarios. Second, futures studies typically attempts to gain a holistic or systemic view based on insights from a range of different disciplines, generally focusing on the STEEP categories of Social, Technological, Economic, Environmental and Political. Third, futures studies challenges and unpacks the assumptions behind dominant and contending views of the future. The future thus is not empty but fraught with hidden assumptions. For example, many people expect the collapse of the Earth's ecosystem in the near future, while others believe the current ecosystem will survive indefinitely. A foresight approach would seek to analyze and highlight the assumptions underpinning such views.

As a field, futures studies expands on the research component, by emphasizing the communication of a strategy and the actionable steps needed to implement the plan or plans leading to the preferable future. It is in this regard, that futures studies evolves from an academic exercise to a more traditional business-like practice, looking to better prepare organizations for the future.

Futures studies does not generally focus on short term predictions such as interest rates over the next business cycle, or of managers or investors with short-term time horizons. Most strategic planning, which develops goals and objectives with time horizons of one to three years, is also not considered futures. Plans and strategies with longer time horizons that specifically attempt to anticipate possible future events are definitely part of the field. Learning about medium and long-term developments may at times be observed from their early signs. As a rule, futures studies is generally concerned with changes of transformative impact, rather than those of an incremental or narrow scope.

The futures field also excludes those who make future predictions through professed supernatural means.

To complete a futures study, a domain is selected for examination. The domain is the main idea of the project, or what the outcome of the project seeks to determine. Domains can have a strategic or exploratory focus and must narrow down the scope of the research. It examines what will, and more importantly, will not be discussed in the research. Futures practitioners study trends focusing on STEEP (Social, Technological, Economic, Environments and Political) baselines. Baseline exploration examine current STEEP environments to determine normal trends, called baselines. Next, practitioners use scenarios to explore different futures outcomes. Scenarios examine how the future can be different. 1. Collapse Scenarios seek to answer: What happens if the STEEP baselines fall into ruin and no longer exist? How will that impact STEEP categories? 2. Transformation Scenarios: explore futures with the baseline of society transiting to a 'new' state. How are the STEEP categories effected if society has a whole new structure? 3. New Equilibrium: examines an entire change to the structure of the domain. What happens if the baseline changes to a 'new' baseline within the same structure of society?

" - wikipedia.org
This quote downloaded July 5th, 2022. [Refer https://en.wikipedia.org/wiki/Futures_studies ]
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[Quote No.68868] Need Area: Work > Make
"Engineering is the use of scientific principles to design and build [make things, for example factories] machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad range of more specialized fields of engineering [for example military, civil, structural, industrial, material, electrical, computer, aeronautical, biomechanical, etc., engineering] each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application. The term engineering is derived from the Latin ingenium, meaning 'cleverness' and ingeniare, meaning 'to contrive, devise'." - wikipedia.org
[Refer https://en.wikipedia.org/wiki/Engineering ]
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[Quote No.69164] Need Area: Work > General
"[Vocation and career - 'follow your bliss', especially where it coincides with your talents and serves others' present and future needs; Big History - history from the beginning of time and the universe through to the present and on into the future with your life's contribution and beyond; progress; futurology; futurist; science and science-fiction:-]

Futures studies, futures research, futurism or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends, often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies (colloquially called 'futures' by many of the field's practitioners) seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.

... Futurology is an interdisciplinary field that aggregates and analyzes trends, with both lay and professional methods, to compose possible futures. It includes analyzing the sources, patterns, and causes of change and stability in an attempt to develop foresight. Around the world the field is variously referred to as futures studies, futures research, strategic foresight, futuristics, futures thinking, futuring, and futurology. Futures studies and strategic foresight are the academic field's most commonly used terms in the English-speaking world.

Foresight was the original term and was first used in this sense by H.G. Wells in 1932. 'Futurology' is a term common in encyclopedias, though it is used almost exclusively by nonpractitioners today, at least in the English-speaking world. 'Futurology' is defined as the 'study of the future.' The term was coined by German professor Ossip K. Flechtheim in the mid-1940s, who proposed it as a new branch of knowledge that would include a new science of probability. This term has fallen from favor in recent decades because modern practitioners stress the importance of alternative, plausible, preferable and plural futures, rather than one monolithic future, and the limitations of prediction and probability, versus the creation of possible and preferable futures.

Three factors usually distinguish futures studies from the research conducted by other disciplines (although all of these disciplines overlap, to differing degrees). First, futures studies often examines trends to compose possible, probable, and preferable futures along with the role 'wild cards' can play on future scenarios. Second, futures studies typically attempts to gain a holistic or systemic view based on insights from a range of different disciplines, generally focusing on the STEEP categories of Social, Technological, Economic, Environmental and Political. Third, futures studies challenges and unpacks the assumptions behind dominant and contending views of the future. The future thus is not empty but fraught with hidden assumptions. For example, many people expect the collapse of the Earth's ecosystem in the near future, while others believe the current ecosystem will survive indefinitely. A foresight approach would seek to analyze and highlight the assumptions underpinning such views.

As a field, futures studies expands on the research component, by emphasizing the communication of a strategy and the actionable steps needed to implement the plan or plans leading to the preferable future. It is in this regard, that futures studies evolves from an academic exercise to a more traditional business-like practice, looking to better prepare organizations for the future.

Futures studies does not generally focus on short term predictions such as interest rates over the next business cycle, or of managers or investors with short-term time horizons. Most strategic planning, which develops goals and objectives with time horizons of one to three years, is also not considered futures. Plans and strategies with longer time horizons that specifically attempt to anticipate possible future events are definitely part of the field. Learning about medium and long-term developments may at times be observed from their early signs. As a rule, futures studies is generally concerned with changes of transformative impact, rather than those of an incremental or narrow scope.

The futures field also excludes those who make future predictions through professed supernatural means.

To complete a futures study, a domain is selected for examination. The domain is the main idea of the project, or what the outcome of the project seeks to determine. Domains can have a strategic or exploratory focus and must narrow down the scope of the research. It examines what will, and more importantly, will not be discussed in the research. Futures practitioners study trends focusing on STEEP (Social, Technological, Economic, Environments and Political) baselines. Baseline exploration examine current STEEP environments to determine normal trends, called baselines. Next, practitioners use scenarios to explore different futures outcomes. Scenarios examine how the future can be different. 1. Collapse Scenarios seek to answer: What happens if the STEEP baselines fall into ruin and no longer exist? How will that impact STEEP categories? 2. Transformation Scenarios: explore futures with the baseline of society transiting to a 'new' state. How are the STEEP categories effected if society has a whole new structure? 3. New Equilibrium: examines an entire change to the structure of the domain. What happens if the baseline changes to a 'new' baseline within the same structure of society?

" - wikipedia.org
This quote downloaded July 5th, 2022. [Refer https://en.wikipedia.org/wiki/Futures_studies ]
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[Quote No.36177] Need Area: Property > General
"[There are several parts to this amendment, but note the issue about property, because the 'Founding Fathers' considered private property, starting from the ownership of self, to be the basis for all law, and even debated having 'The Declaration of Independence' state, inalienable rights to life, liberty and the pursuit of property, but settled on happiness as they believed this would encompass the pursuit of private property as well as cover all other pursuits, as all would be motivated by the desire for happiness. Here is the sequence... Original text of the Constitution...Preamble...Articles of the Constitution I ·II ·III ·IV ·V ·VI ·VII...Amendments to the Constitution...Bill of Rights I ·II ·III ·IV ·V VI ·VII ·VIII ·IX ·X...Subsequent Amendments...XI ·XII ·XIII ·XIV ·XV...XVI ·XVII ·XVIII ·XIX ·XX XXI ·XXII ·XXIII ·XXIV ·XXV XXVI ·XXVII .] The Fourteenth Amendment (Amendment XIV) to the United States Constitution was adopted on July 9, 1868 as one of the Reconstruction Amendments. ...Its Due Process Clause prohibits state and local governments from depriving persons of life, liberty, or property without certain steps being taken to ensure fairness. This clause has been used to make most of the Bill of Rights applicable to the states, as well as to recognize substantive and procedural rights..." - wikipedia.org
http://en.wikipedia.org/wiki/Fourteenth_Amendment_to_the_United_States_Constitution
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[Quote No.46482] Need Area: Food > Food
"[Healthy, natural nutrition:] The paleolithic diet (abbreviated paleo diet or paleodiet), also popularly referred to as the [primal diet], caveman diet, Stone Age diet and hunter-gatherer diet, is a modern nutritional plan based on the presumed ancient diet of wild plants and animals that various hominid species habitually consumed during the Paleolithic era — a period of about 2.5 million years which ended around 10,000 years ago with the development of agriculture and grain-based diets. In common usage, such terms as 'paleolithic diet' also refer to the actual ancestral human diet. Centered on commonly available modern foods, the 'contemporary' Paleolithic diet consists mainly of fish, grass-fed pasture raised meats, eggs, vegetables, fruit, fungi, roots, and nuts, and excludes grains, legumes, dairy products, potatoes, refined salt, refined sugar, and processed oils. First popularized in the mid-1970s by gastroenterologist Walter L. Voegtlin, this nutritional concept has been promoted and adapted by a number of authors and researchers in several books and academic journals. A common theme in evolutionary medicine, Paleolithic nutrition is based on the premise that modern humans are genetically adapted to the diet of their Paleolithic ancestors and that human genetics have scarcely changed since the dawn of agriculture, and therefore that an ideal diet for human health and well-being is one that resembles this ancestral diet. Proponents of this diet argue that modern human populations subsisting on traditional diets allegedly similar to those of Paleolithic hunter-gatherers are largely free of diseases of affluence [lifestyle], and that multiple studies of the Paleolithic diet in humans have shown improved health outcomes relative to other widely recommended diets. Supporters also point to several potentially therapeutic nutritional characteristics of preagricultural diets." - wikipedia.org

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[Quote No.58871] Need Area: Food > Food
"[A healthy, nutritious diet for active longevity: Blue Zones!] Blue Zones is a concept used to identify a demographic and/or geographic area of the world where people live measurably longer lives. The concept grew out of demographic work done by Gianni Pes and Michel Poulain, who identified Sardinia's Nuoro province as the region with the highest concentration of male centenarians. As the two men zeroed in on the cluster of villages with the highest longevity, they drew concentric blue circles on the map and began referring to the area inside the circle as the Blue Zone. Dan Buettner identifies longevity hotspots in Okinawa (Japan); Sardinia (Italy); Nicoya (Costa Rica); Icaria (Greece); and among the Seventh-day Adventists in Loma Linda, California, and offers an explanation, based on empirical data and first hand observations, as to why these populations live healthier and longer lives. The five regions identified and discussed by Buettner in the book 'The Blue Zones: Lessons for Living Longer from the People Who've Lived the Longest': --- 1. Sardinia, Italy (particularly Nuoro province and Ogliastra): one team of demographers found a hot spot of longevity in mountain villages where men reach the age of 100 years at an amazing rate. --- 2. The islands of Okinawa, Japan: another team examined a group that is among the longest-lived on Earth. --- 3. Loma Linda, California: researchers studied a group of Seventh-day Adventists who rank among North America's longevity all-stars. --- 4. Nicoya Peninsula, Costa Rica: the peninsula was the subject of research on a Quest Network expedition which began on January 29, 2007. --- 5. Icaria, Greece: an April 2009 study on the island of Ikaria uncovered the location with the highest percentage of 90-year-olds on the planet – nearly 1 out of 3 people make it to their 90s. Furthermore, Ikarians 'have about 20 percent lower rates of cancer, 50 percent lower rates of heart disease and almost no dementia.' Residents of the first three places produce a high rate of centenarians, suffer a fraction of the diseases that commonly kill people in other parts of the developed world, and enjoy more healthy years of life. ... The people inhabiting Blue Zones share common lifestyle characteristics that contribute to their longevity. ... Buettner in his book provide a list of nine lessons, covering the lifestyle of blue zones people: - 1.Moderate, regular physical activity. - 2.Life purpose. - 3.Stress reduction. - 4.Moderate calories intake. - 5.Plant-based diet [Semi-vegetarianism – except for the Sardinian diet, the majority of food consumed is derived from plants]. - 6.Moderate alcohol intake, especially wine [Less smoking]. - 7.Engagement in spirituality or religion. - 8.Engagement in family life. - 9.Engagement in social life." - wikipedia.org
[https://en.wikipedia.org/wiki/Blue_Zone and https://www.bluezones.com/live-longer/ and https://www.bluezones.com/blue-zones-solution-2/ ]
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[Quote No.46588] Need Area: Food > General
"[Healthy natural nutrition and diet:] Low-carbohydrate diets or low-carb diets are dietary programs that restrict carbohydrate consumption, often for the treatment of obesity. Foods high in easily digestible carbohydrates (e.g., sugar, bread, pasta) are limited or replaced with foods containing a higher percentage of fats and moderate protein (e.g., meat, poultry, fish, shellfish, eggs, cheese, nuts, and seeds) and other foods low in carbohydrates (e.g., most salad vegetables), although other vegetables and fruits (especially berries) are often allowed. The amount of carbohydrate allowed varies with different low-carbohydrate diets. Such diets are sometimes ketogenic (i.e., they restrict carbohydrate intake sufficiently to cause ketosis)." - wikipedia.org
[http://en.wikipedia.org/wiki/Low-carbohydrate_diet ]
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[Quote No.46590] Need Area: Food > General
"[Healthy natural nutrition and diet:] Today, the term 'low-carbohydrate diet' is most strongly associated with the Atkins Diet and other diets that share similar principles [e.g. Air Force Diet, Zone Diet, Scarsdale diet, paleolithic or Paleo or Primal or Caveman or Ancestral diet and, Keto or Ketone or Ketosis Diet]. The American Academy of Family Physicians defines low-carbohydrate diets as diets that restrict carbohydrate intake to 20 to 60 grams per day, typically less than 20 percent of caloric intake. Some low-carbohydrate diets may exceed one or more of these definitions, notably the maintenance phase of the Atkins Diet. There is no consensus definition of what precisely constitutes a low-carbohydrate diet. Medical researchers and diet advocates may define different levels of carbohydrate intake when specifying low-carbohydrate diets. For the purposes of this discussion, this article focuses on diets that reduce (nutritive) carbohydrate intake sufficiently to significantly reduce insulin production and to encourage ketosis (production of ketones to be used as energy in place of glucose). The body of research underpinning low-carbohydrate diets has grown significantly in the decades of the 1990s and 2000s. Most of this research centers on the relationship between carbohydrate intake and blood sugar levels (i.e., blood glucose), as well as some related hormone levels. Some evidence suggests blood sugar levels in the human body should be maintained in a fairly narrow range to maintain good health. The two primary hormones that regulate blood sugar levels are insulin, which lowers blood sugar levels, and glucagon, which raises blood sugar levels. These are both produced in the pancreas: insulin from beta cells and glucagon from alpha cells. In western diets (and many others), most meals are sufficiently high in nutritive carbohydrates to evoke insulin secretion. The primary control for this insulin secretion is glucose in the blood stream, typically from digested carbohydrate. Insulin also controls ketosis; in the non-ketotic state, the human body stores dietary fat in fat cells (i.e., adipose tissue) and preferentially uses glucose [rather than this store fat] as cellular fuel. Diets low in nutritive carbohydrates introduce less glucose into the blood stream and thus evoke less insulin secretion, which leads to longer and more frequent episodes of ketosis [stored body fat metabolism]. Some research suggests that this causes body fat to be eliminated from the body, although this theory remains controversial, insofar as it refers to excretion of lipids (i.e., fat and oil) and not to fat metabolism during ketosis. Low-carbohydrate diet advocates in general recommend reducing nutritive carbohydrates (commonly referred to as 'net carbs,' i.e., grams of total carbohydrates reduced by the non-nutritive carbohydrates) to very low levels. This means sharply reducing consumption of desserts, breads, pastas, potatoes, rice, and other sweet or starchy foods. Some recommend levels less than 20 grams of 'net carbs' per day, at least in the early stages of dieting (for comparison, a single slice of white bread typically contains 15 grams of carbohydrate, almost entirely starch). By contrast, the U.S. Institute of Medicine recommends a minimum intake of 130 grams of carbohydrate per day (the FAO and WHO similarly recommend that the majority of dietary energy come from carbohydrates). Low-carbohydrate diets often differ in the specific amount of carbohydrate intake allowed, whether certain types of foods are preferred, whether occasional exceptions are allowed, etc. Generally they all agree that processed sugar should be eliminated, or at the very least greatly reduced, and similarly generally discourage heavily processed grains (white bread, etc.). Low-carbohydrate diets vary greatly in their recommendations as to the amount of fat allowed in the diet. The Atkins Diet does not limit fat. Others recommend a moderate fat intake. Although low-carbohydrate diets are most commonly discussed as a weight-loss approach, some experts have proposed using low-carbohydrate diets to mitigate or prevent diseases including diabetes, metabolic disease and epilepsy. Some low-carbohydrate proponents and others argue that the rise in carbohydrate consumption, especially refined carbohydrates, caused the epidemic levels of many diseases in modern society, including metabolic disease and type 2 diabetes. There is also a category of diets known as low-glycemic-index diets (low-GI diets) or low-glycemic-load diets (low-GL diets), in particular the Low GI Diet by Brand-Miller et al. In reality, low-carbohydrate diets can also be low-GL diets (and vice versa) depending on the carbohydrates in a particular diet. In practice, though, 'low-GI'/'low-GL' diets differ from 'low-carb' diets in the following ways. First, low-carbohydrate diets treat all nutritive carbohydrates as having the same effect on metabolism, and generally assume that their effect is predictable. Low-GI/low-GL diets are based on the measured change in blood glucose levels in various carbohydrates – these vary markedly in laboratory studies. The differences are due to poorly understood digestive differences between foods. However, as foods influence digestion in complex ways (e.g., both protein and fat delay absorption of glucose from carbohydrates eaten at the same time) it is difficult to even approximate the glycemic effect (e.g., over time or even in total in some cases) of a particular meal. Another related diet type, the low-insulin-index diet, is similar except that it is based on measurements of direct insulemic responses (i.e., the amount of insulin in the bloodstream) to food rather than glycemic response (the amount of glucose in the bloodstream). Although such diet recommendations mostly involve lowering nutritive carbohydrates, there are some low-carbohydrate foods that are discouraged as well (e.g., beef). Insulin secretion is stimulated (though less strongly) by other dietary intake. Like glycemic index diets, there is difficulty predicting the insulin secretion from any particular meal, due to assorted digestive interactions and so differing effects on insulin release. --- Ketosis and insulin synthesis: what is normal? --- At the heart of the debate about most low carbohydrate diets are fundamental questions about what is a normal diet and how the human body is supposed to operate. These questions can be outlined as follows: The diets of most people in modern Western nations, especially the United States, contain large amounts of starches and often substantial amounts of sugars, including fructose. Most westerners seldom exhaust stored glycogen supplies and hence rarely go into ketosis. This has been regarded by the majority of the medical community in the last century as normal for humans. Ketosis had been confused with ketoacidosis, a dangerous and extreme ketotic condition associated with diabetes, and had been regarded by the medical community as harmful and potentially life-threatening, who believe it unnecessarily stresses the liver and causes destruction of muscle tissues. A perception developed that getting energy chiefly from dietary protein rather than carbohydrates causes liver damage and that getting energy chiefly from dietary fats rather than carbohydrates causes heart disease and other health problems. This view is still held by the majority of those in the medical and nutritional science communities. However, it is now widely recognized that periodic ketosis is in fact normal, and that ketosis provides a number of surprising benefits, including neuroprotection against diverse types of cellular injury. People who eschew low carbohydrate diets cite hypoglycemia and ketoacidosis as a risk factor. While mild acidosis may be a side effect when beginning a ketogenic diet, it is benign and should not be confused with diabetic ketoacidosis, which can be life threatening. A diet very low in starches and sugars induces several adaptive responses. Low blood glucose causes the pancreas to produce glucagon, which stimulates the liver to convert stored glycogen into glucose and release it into the blood. When liver glycogen stores are exhausted, the body starts utilizing fatty acids instead of glucose. The brain cannot use fatty acids for energy, and instead uses ketones produced from fatty acids by the liver. By using fatty acids and ketones as energy sources, supplemented by conversion of proteins to glucose (gluconeogenesis), the body can maintain normal levels of blood glucose without dietary carbohydrates. Most advocates of low-carbohydrate diets, such as the Atkins Diet, argue that the human body is adapted to function primarily in ketosis. They argue that high insulin levels [from high consumption of carbohydrates] can cause many health problems, most significantly fat storage and weight gain. They argue that the purported dangers of ketosis are unsubstantiated (some of the arguments against ketosis result from confusion between ketosis and ketoacidosis which is a mostly diabetic condition unrelated to dieting or low-carbohydrate intake). They also argue that fat in the diet only contributes to heart disease in the presence of high insulin levels [from high carbohydrate consumption] and that if the diet is instead adjusted to induce ketosis, fat and cholesterol in the diet are beneficial. Most low carb diets plans discourage consumption of trans fat [which is used extensively in producing meals in the fast-food industry]. On a high-carbohydrate diet, glucose is used by cells in the body for the energy needed for their basic functions, and about 2/3 of body cells require insulin in order to use glucose. Excessive amounts of blood glucose are thought to be a primary cause of the complications of diabetes; when glucose reacts with body proteins (resulting in glycosolated proteins) and change their behavior. Perhaps for this reason, the amount of glucose tightly maintained in the blood is quite low. Unless a meal is very low in starches and sugars, blood glucose will rise for a period of an hour or two after a meal. When this occurs, beta cells in the pancreas release insulin to cause uptake of glucose into cells. In liver and muscle cells, more glucose is taken in than is needed and stored as glycogen (once called 'animal starch'). Diets with a high starch/sugar content, therefore, cause release of more insulin and so more cell absorption. In diabetics, glucose levels vary in time with meals and vary a little more as a result of high carbohydrate content meals. In non-diabetics, blood sugar levels are restored to normal levels within an hour or two, regardless of the content of a meal. While there are essential fatty acids (EFA) and essential amino acids (EAA) and while a diet devoid of EFA or EAA will result in eventual death, a diet completely without carbohydrates can be maintained indefinitely because fatty acids include a carbohydrate backbone (glycerol). There are essential fatty acids and amino acids for structural building blocks, not energy. EFA and EAA will be converted into intermediates for the carbohydrate metabolism, even if it depletes their essential stocks. However, a very low carbohydrate diet (less than 20g per day) may negatively affect certain biomarkers and produce detrimental effects in certain types of individuals (for instance, those with kidney problems). The opposite is also true – for instance, clinical experience suggests very low carbohydrate diet for patients with metabolic syndrome." - Wikipedia.org
[http://en.wikipedia.org/wiki/Low-carbohydrate_diet ]
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[Quote No.46693] Need Area: Food > General
"[Healthy, natural nutrition and diet:] Low-glycemic diet: A low-glycemic diet is a weight loss diet based on controlling blood sugar. One example is the Glycemic Index Diet developed by David J. Jenkins, a professor of nutrition at the University of Toronto and later turned into a successful line of diet books by author and former president of the Heart and Stroke Foundation of Ontario, Rick Gallop. According to the publishing company Virgin Books, the G.I. Diet has sold over two million copies. G.I. stands for Glycemic Index, one of several metrics used to quantify short-term changes in blood glucose levels in humans following the ingestion of carbohydrate-containing foods [therefore why this type of diet is considered a type of low-carb diet or more accurately a low-bad-carb diet]. Glucose is the body's source of energy — it is the fuel that feeds your brain, muscles, and other organs. Glucose is set at 100, and all foods are indexed against that number. So foods that are quickly digested have a high G.I., and foods that are digested more slowly have a lower G.I. Any food rating less than 55 in the G.I. is considered low. The glycemic index is a useful aid for diabetics or for anyone who wishes to control their blood glucose levels. A diet based on foods with low glycemic response has been associated with diabetes management, improved blood lipids (cholesterol), reduced risk of heart disease, and weight management. Not only will foods with a low glycemic index take longer to digest (therefore prolonging satiety) they will also maintain blood glucose levels at a relatively constant state. Foods with a high glycemic index not only digest quickly, they can cause extreme fluctuations in blood glucose. There are some specific factors to look for in foods that can indicate their glycemic index: Low glycemic foods contain: Fat, Whole grains, Protein, Raw Starches, legumes, vegetables, fruits and dairy products. High Glycemic Foods contain: Refined grains, refined sugars, increased amylopectin: amylose ratio, and often high sugar fruits have a high glycemic index. There are other factors that contribute to a foods glycemic index, such as plant variety, food processing, cooking method and whether the food is eaten by itself or in combination with other foods. There are criticisms of the glycemic index, including how impractical it is. Few foods have been tested for their glycemic index, and the preparation and combination with other foods can alter its glycemic index. There is no requirement to display the glycemic index of a food product, and it is not always easy to predict the glycemic index of certain foods. Switching from a high glycemic index diet to a low glycemic index diet can be made relatively easy. Switching white bread and pastas to whole grain, eating breakfast cereals made from oats, bran or barley, adding more fruits and vegetables when cooking and reducing potato consumption can all aid in lowering glycemic index." - Wikipedia.org
[http://en.wikipedia.org/wiki/Low-glycemic_diet ]
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[Quote No.63586] Need Area: Friends > Friends
"[Beware of an unreasonable need for company and-or social support, that compromises your individuality, autonomy and-or integrity. This is sometimes described as...:] Autophobia, also called monophobia, isolophobia, or eremophobia, is the specific phobia of isolation; a morbid fear of being egotistical, or a dread of being alone or isolated. Sufferers need not be physically alone, but just to believe that they are being ignored or unloved." - wikipedia.org
[https://en.wikipedia.org/wiki/Autophobia]
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[Quote No.66722] Need Area: Friends > Children
"[Legal individual freedom and personal responsibility:] Age of majority: The age of majority is the threshold of adulthood as recognized or declared in law. It is the moment when minors cease to be considered such and assume legal control over their persons, actions, and decisions, thus terminating the control and legal responsibilities of their parents or guardian over them. Most countries set the age of majority at 18, but some jurisdictions have a higher age and others lower. ...The law in a given jurisdiction may not actually use the term 'age of majority'. The term typically refers to a collection of laws bestowing the status of adulthood. Age of majority should not be confused with the age of sexual consent, marriageable age, school-leaving age, drinking age, driving age, voting age, smoking age, gambling age, etc., which each may be independent of and set at a different age from the age of majority. ...Age of majority pertains solely to the acquisition of the legal control over one's person, decisions and actions, and the correlative termination of the legal authority of the parents (or guardian(s), in lieu of parent(s)) over the child's person and affairs generally. [Refer also: (1) 'in loco parentis' - which is Latin for 'in the place of a parent' and refers to the legal responsibility of a person or organization to take on some of the functions and responsibilities of a parent. Originally derived from English common law, it is applied in two separate areas of the law. First, it allows institutions such as colleges and schools to act in the best interests of the students as they see fit, although not allowing what would be considered violations of the students' civil liberties. Second, this doctrine can provide a non-biological parent to be given the legal rights and responsibilities of a biological parent if they have held themselves out as the parent. The in loco parentis doctrine is distinct from the doctrine of parens patriae, the psychological parent doctrine, and adoption; and (2) 'parens patriae' - which is Latin for 'parent of the nation' (lit., 'parent of the fatherland'). In law, it refers to the public policy power of the state to intervene against an abusive or negligent parent, legal guardian, or informal caretaker, and to act as the parent of any child or individual who is in need of protection. For example, some children, incapacitated individuals, and disabled individuals lack parents who are able and willing to render adequate care, thus requiring state intervention.]" - Wikipedia.org

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[Quote No.69161] Need Area: Friends > Children
"[Big History - history from the beginning of time and the universe through to the present and on into the future with your life's contribution and beyond; progress; futurology; futurist; science and science-fiction:-]

Futures studies, futures research, futurism or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends, often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies (colloquially called 'futures' by many of the field's practitioners) seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.

... Futurology is an interdisciplinary field that aggregates and analyzes trends, with both lay and professional methods, to compose possible futures. It includes analyzing the sources, patterns, and causes of change and stability in an attempt to develop foresight. Around the world the field is variously referred to as futures studies, futures research, strategic foresight, futuristics, futures thinking, futuring, and futurology. Futures studies and strategic foresight are the academic field's most commonly used terms in the English-speaking world.

Foresight was the original term and was first used in this sense by H.G. Wells in 1932. 'Futurology' is a term common in encyclopedias, though it is used almost exclusively by nonpractitioners today, at least in the English-speaking world. 'Futurology' is defined as the 'study of the future.' The term was coined by German professor Ossip K. Flechtheim in the mid-1940s, who proposed it as a new branch of knowledge that would include a new science of probability. This term has fallen from favor in recent decades because modern practitioners stress the importance of alternative, plausible, preferable and plural futures, rather than one monolithic future, and the limitations of prediction and probability, versus the creation of possible and preferable futures.

Three factors usually distinguish futures studies from the research conducted by other disciplines (although all of these disciplines overlap, to differing degrees). First, futures studies often examines trends to compose possible, probable, and preferable futures along with the role 'wild cards' can play on future scenarios. Second, futures studies typically attempts to gain a holistic or systemic view based on insights from a range of different disciplines, generally focusing on the STEEP categories of Social, Technological, Economic, Environmental and Political. Third, futures studies challenges and unpacks the assumptions behind dominant and contending views of the future. The future thus is not empty but fraught with hidden assumptions. For example, many people expect the collapse of the Earth's ecosystem in the near future, while others believe the current ecosystem will survive indefinitely. A foresight approach would seek to analyze and highlight the assumptions underpinning such views.

As a field, futures studies expands on the research component, by emphasizing the communication of a strategy and the actionable steps needed to implement the plan or plans leading to the preferable future. It is in this regard, that futures studies evolves from an academic exercise to a more traditional business-like practice, looking to better prepare organizations for the future.

Futures studies does not generally focus on short term predictions such as interest rates over the next business cycle, or of managers or investors with short-term time horizons. Most strategic planning, which develops goals and objectives with time horizons of one to three years, is also not considered futures. Plans and strategies with longer time horizons that specifically attempt to anticipate possible future events are definitely part of the field. Learning about medium and long-term developments may at times be observed from their early signs. As a rule, futures studies is generally concerned with changes of transformative impact, rather than those of an incremental or narrow scope.

The futures field also excludes those who make future predictions through professed supernatural means.

To complete a futures study, a domain is selected for examination. The domain is the main idea of the project, or what the outcome of the project seeks to determine. Domains can have a strategic or exploratory focus and must narrow down the scope of the research. It examines what will, and more importantly, will not be discussed in the research. Futures practitioners study trends focusing on STEEP (Social, Technological, Economic, Environments and Political) baselines. Baseline exploration examine current STEEP environments to determine normal trends, called baselines. Next, practitioners use scenarios to explore different futures outcomes. Scenarios examine how the future can be different. 1. Collapse Scenarios seek to answer: What happens if the STEEP baselines fall into ruin and no longer exist? How will that impact STEEP categories? 2. Transformation Scenarios: explore futures with the baseline of society transiting to a 'new' state. How are the STEEP categories effected if society has a whole new structure? 3. New Equilibrium: examines an entire change to the structure of the domain. What happens if the baseline changes to a 'new' baseline within the same structure of society?

" - wikipedia.org
This quote downloaded July 5th, 2022. [Refer https://en.wikipedia.org/wiki/Futures_studies ]
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[Quote No.58723] Need Area: Friends > Conversation
"[Smile, smiling, laughing, etc:] The facial feedback hypothesis states that facial movement can influence emotional experience. For example, an individual who is forced to smile during a social event will actually come to find the event more of an enjoyable experience. ... Charles Darwin was among the first to suggest that physiological changes caused by an emotion had a direct impact on, rather than being just the consequence of that emotion. He wrote: 'The free expression by outward signs of an emotion intensifies it. On the other hand, the repression, as far as this is possible, of all outward signs softens our emotions... Even the simulation of an emotion tends to arouse it in our minds.' Following on this idea, William James proposed that, contrary to common belief, awareness of bodily changes activated by a stimulus 'is the emotion'. If no bodily changes are felt, there is only an intellectual thought, devoid of emotional warmth. In The Principles of Psychology, James wrote: 'Refuse to express a passion, and it dies'. This proved difficult to test, and little evidence was available, apart from some animal research and studies of people with severely impaired emotional functioning. The facial feedback hypothesis, 'that skeletal muscle feedback from facial expressions plays a causal role in regulating emotional experience and behaviour' developed almost a century after Darwin. ... While James included the influence of all bodily changes on the creation of an emotion, 'including among them visceral, muscular, and cutaneous effects', modern research mainly focuses on the effects of facial muscular activity. One of the first to do so, Silvan Tomkins wrote in 1962 that 'the face expresses affect, both to others and the self, via feedback, which is more rapid and more complex than any stimulation of which the slower moving visceral organs are capable'. Two versions of the facial feedback hypothesis appeared, although 'these distinctions have not always been consistent'. The weak version, introduced by Darwin, sees the feedback intensify or reduce an emotion already present. Thomas McCanne and Judith Anderson (1987) instructed participants to suppress or increase the zygomatic or corrugator muscle while imagining pleasant or unpleasant scenes. Subsequent alteration of the emotional response was shown to have occurred. The strong version implies that facial feedback by itself can create the whole emotion. According to Jeffrey Browndyke, 'the strongest evidence for the facial feedback hypothesis to date comes from research by Lanzetta et al. (1976)' ... Participants had lower skin conductance and subjective ratings of pain when hiding the painfulness of the shocks they endured, compared with those who expressed intense pain." - wikipedia.org
[https://en.wikipedia.org/wiki/Facial_feedback_hypothesis ]
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[Quote No.30362] Need Area: Friends > General
"In the United States, the Bill of Rights is the name by which the first ten amendments to the United States Constitution are known. They were introduced by James Madison to the First United States Congress in 1789 as a series of constitutional amendments, and came into effect on December 15, 1791, when they had been ratified by three-fourths of the States. The Bill of Rights limits the powers of the federal government of the United States, protecting the rights of all citizens, residents and visitors on United States territory. The Bill of Rights protects freedom of speech, freedom of religion, the right to keep and bear arms, the freedom of assembly, and the freedom to petition. It also prohibits unreasonable search and seizure, cruel and unusual punishment, and compelled self-incrimination. The Bill of Rights also prohibits Congress from making any law respecting establishment of religion and prohibits the federal government from depriving any person of life, liberty, or property, without due process of law. In federal criminal cases, it requires indictment by grand jury for any capital or 'infamous crime', guarantees a speedy public trial with an impartial jury composed of members of the state or judicial district in which the crime occurred, and prohibits double jeopardy. In addition, the Bill of Rights states that 'the enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people,' and reserves all powers not granted to the federal government to the citizenry or States. Most of these restrictions were later applied to the states by a series of decisions applying the due process clause of the Fourteenth Amendment, which was ratified in 1868, after the American Civil War. Madison proposed the Bill of Rights while ideological conflict between Federalists and anti-Federalists, dating from the 1787 Philadelphia Convention, threatened the overall ratification of the new national Constitution. It largely responded to the Constitution's influential opponents, including prominent Founding Fathers, who argued that the Constitution should not be ratified because it failed to protect the basic principles of human liberty. The Bill was influenced by George Mason's 1776 Virginia Declaration of Rights, the 1689 English Bill of Rights, works of the Age of Enlightenment pertaining to natural rights, and earlier English political documents such as Magna Carta (1215)." - Wikipedia.org
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[Quote No.35293] Need Area: Friends > General
"[Individuals should try to understand their country's and their neighbours' foreign policies as it helps explain their actions, including acts of war, etc and others' complaints of interference, imperialism, etc and should help inform them and possibly effect their voting in a democracy - as their government is acting in their name. An example of a significant foreign policy of one country is explained in the following article.] The Monroe Doctrine is a policy of the United States introduced on December 2, 1823. It stated that further efforts by European countries to colonize land or interfere with states in the Americas would be viewed as acts of aggression requiring U.S. intervention. The doctrine was introduced by President Monroe when he was enraged at the actions being executed around him. The Monroe Doctrine asserted that the Western Hemisphere was not to be further colonized by European countries but that the United States would neither interfere with existing European colonies nor meddle in the internal concerns of European countries [i.e. If you don't interfere in our business, we won't interfere in yours!]. The Doctrine was issued at a time when many Latin American countries were on the verge of becoming independent from the Spanish Empire. The United States, reflecting concerns raised by Great Britain, ultimately hoped to avoid having any European power take over Spain's colonies.... The US President, James Monroe, first stated the doctrine during his seventh annual State of the Union Address to Congress. It became a defining moment in the foreign policy of the United States and one of its longest-standing tenets, and would be invoked by many U.S. statesmen and several U.S. presidents, including Theodore Roosevelt, Calvin Coolidge, Herbert Hoover, John F. Kennedy, Ronald Reagan and others. It would have been nearly impossible for Monroe to envision that its intent and impact would persist with only minor variations for almost two centuries. Its primary objective was to free the newly independent colonies of Latin America from European intervention and control (thus ensuring US national security). The doctrine put forward that the New World and the Old World were to remain distinctly separate spheres of influence, for they were composed of entirely separate and independent nations.... International Response: Because the U.S. lacked both a credible navy and army at the time, the doctrine was largely disregarded internationally. However, the Doctrine met with tacit British approval, and the Royal Navy mostly enforced it tacitly, as part of the wider Pax Britannica, which enforced the neutrality of the seas. This was in line with the developing British policy of laissez-faire free trade against mercantilism: fast-growing British industry was ever seeking outlets for its manufactured goods, and were the newly independent Latin American states to become Spanish colonies once more, British access to these markets would be cut off by Spanish mercantilist policy... The 'Roosevelt Corollary': As the United States emerged as a world superpower, the Monroe Doctrine came to define a recognized sphere of control that few dared to challenge [Might is right?]. Before becoming president, Theodore Roosevelt had proclaimed the rationale of the Monroe Doctrine in supporting intervention in the Spanish colony of Cuba in 1898. After he became president, and following the Venezuela Crisis of 1902–1903, Roosevelt added the Roosevelt Corollary to the Monroe Doctrine in 1904. This corollary asserted the right of the United States to intervene in Latin America in cases of 'flagrant and chronic wrongdoing by a Latin American Nation'. The Roosevelt Corollary to the Monroe Doctrine was invoked to intervene militarily in Latin America to stop the spread of European influence [reducing the influence of the United States]. The Roosevelt Corollary was the most significant amendment to the original doctrine and was widely opposed by critics, who argued that the Monroe Doctrine was originally meant to stop European influence in the Western Hemisphere. This amendment was designed to preclude violation of the doctrine by European powers that would ultimately argue that the independent nations were 'mismanaged or unruly'. Critics, however, argued that the Corollary simply asserted U.S. domination in that area, essentially making them a 'hemispheric policeman'. It is hard to argue that the Western Hemisphere is not entirely a United States sphere of influence, with the obvious exceptions of Cuba and Venezuela.... The Cold War: During the Cold War, the Monroe Doctrine was applied to Latin America by the framers of U.S. foreign policy. When the Cuban Revolution established a socialist government with ties to the Soviet Union, after trying to establish fruitful relations with the U.S., it was argued that the spirit of the Monroe Doctrine should be again invoked, this time to prevent the further spreading of Soviet-backed Communism in Latin America. During the Cold War, the United States thus often provided intelligence and military aid to Latin and South American governments that claimed or appeared to be threatened by Communist subversion. This, in turn, led to some domestic controversy within the United States, especially among some members of the left who argued that the Communist threat and Soviet influence in Latin America was greatly exaggerated.(who?) The debate over this new spirit of the Monroe Doctrine came to a head in the 1980s, as part of the Iran-Contra affair. Among other things, it was revealed that the U.S. Central Intelligence Agency had been covertly training 'Contra' guerrilla soldiers in Honduras in an attempt to destabilize and overthrow the Sandinista revolutionary government of Nicaragua and its President, Daniel Ortega. CIA director Robert Gates vigorously defended the Contra operation, arguing that avoiding U.S. intervention in Nicaragua would be 'totally to abandon the Monroe doctrine'. In a case brought before the International Court of Justice by Nicaragua, however, the court ruled that the United States had exercised 'unlawful use of force.' The U.S. ignored the verdict [Might doesn't care if it is right?]. The Carter and Reagan administrations embroiled themselves in the Salvadoran Civil War, again citing the Monroe Doctrine as justification. The conflict was marked by large scale human rights abuses and the 1980 assassination of Archbishop Óscar Romero by right-wing death squads. The Monroe Doctrine was also cited during the U.S. intervention in Guatemala and the invasion of Grenada. Critics of the Reagan administration's support for Britain in the Falklands War charge that the U.S. ignored the Monroe Doctrine in that instance. Criticisms: Critics of the Monroe Doctrine, such as Noam Chomsky, argue that in practice the Monroe Doctrine has functioned as a declaration of hegemony and a right of unilateral intervention over the Western Hemisphere: a sphere of influence 'to leave America for the Americans' that would grow stronger with the Roosevelt Corollary. Chomsky points to the work of filibusters, most notably William Walker, who tried to conquer and annex various countries in Latin America. Many Latin American popular movements have come to resent the 'Monroe Doctrine', which has been summarized there in the phrase: 'America for the Americans'. Monroe Doctrine's true objectives, and the sincerity of its proclaimed goals, are often questioned in Latin America, especially after the war between the United Kingdom and Argentina in 1982 where the South-American country did not receive any assistance from the United States." - wikipedia.org

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[Quote No.40491] Need Area: Friends > General
"[A free media is vital to the success of a democracy. This is because if there is not accurate, timely information, for example propaganda or deliberate or inadvertent misinformation or media blackouts, individuals do not have the facts to make informed choices and vote in their best interests. The media, sometimes called the 'Fourth Estate', is well aware of their responsibilities to perform this task in a free, democratic society and most country's media organisations include this reponsibility in their training and Code of Ethics.] The estates of the realm, originally conceptualised by Montesquieu, are sectors of the community that have power to influence the policy-making process within a society. They are usually seen as the executive - previously the clergy (First Estate), the legislative - previously the nobility (Second Estate), the judicial - previously the middle class commoners (Third Estate), and the mainstream press (Fourth Estate). There is also the less common concept of a fifth estate which has no fixed meaning, but is used to describe any class or group in society other than the previous four estates. It has been used to describe trade unions, the poor, the proletariat, media outlets, including the blogosphere, that see themselves in opposition to mainstream media (the official Press) and 'networked' individuals. It should not be confused with a 'Fifth Column', which has been used to describe subversive or insurgent elements in a society. It got this name from a 1936 radio address by Emilio Mola, a Nationalist General during the 1936–39 Spanish Civil War. As his army approached Madrid, a message was broadcast that the four columns of his forces outside the city would be supported by a 'fifth column' of his supporters inside the city, intent on undermining the Republican government from within." - Wikipedia.org
[http://en.wikipedia.org/wiki/Fifth_Estate ] [http://en.wikipedia.org/wiki/Fifth_Column ]
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