Relationship Between Finance And The Real Economy

INTRODUCTION FINANCIALIZATION There is no consensus on how best to define financialization. Although the concept emerged within the Marxist tradition, there are conflicting views about the relationship between finance and the real economy. Baran and Sweezy (1966) explain that advanced capitalist states face a surplus absorption problem that inevitably leads to stagnation. To prevent the latter, unproductive consumption rises and the remaining surplus enters the sphere of circulation, particularly, financial activities. This is a stark contrast to Orthodox Marxists (cite), who explain the rise of finance as a consequence of the falling rate of profit in the sphere of production. The essential contention is that poor profitability in†¦show more content†¦Epstein (2001) defines financialization as follows: the importance of financial markets, financial motives, financial institutions and financial elites in the operation of the economy and its governing institutions, both at the national and international l evel. Since financialization was policy induced, a re-regulation of the financial sector was necessary to curb its excesses and increase employment and income (Crotty 2008, 2009; Crotty and Epstein 2008, 2009). Arrighi (1994) understood financialization as the last stage of the USA’s hegemonic power. As advanced capitalist states de-industrialize and lose their productive edge, the sphere of finance expands. After the collapse of Fordism, the Regulation School contends that financial markets became the new regime of regulation (Boyer 2000). Unlike Fordism, finance posed problems for employment, income and growth. Related to this tradition is the new corporate governance view, which argues that the main thrust of financialization is the preoccupation with shareholder value (Stockhammer 2006, Froud et al 2002, Williams 2000, Lazonick and O’ Sullivan 2000). This preoccupation leads to short termism through share buybacks that crowds out long-term real investments. Lapavitsas (2013) contends that the processes of finance should be analysed in their own right, rather than being treated as a surface phenomena sitting on top of real economic

Essay Macbeth - Hero Or Villain - 1487 Words

‘Macbeth’ is a play by William Shakespeare that shows a protagonist going from bad to worse throughout the play. Shakespeare wrote this play, taking in mind current affairs at the time of 1603-1606. This is the time when a Scottish king, James I was given the English crown. This king was obsessed with witches, so Shakespeare brought this theme strongly into the play. It also brings the theme of treachery towards the King. This pleased King James and also pleased him about showing the line of Stuart Kings, James descendants, in Act 4, Scene 1. The play, ‘Macbeth’ is a tragedy. The traditional specification of a tragedy requires the tragic hero to be a person who holds a high position who must oppose a conflicting force, either externally†¦show more content†¦All through the play Macbeth becomes obsessed with what the witches have for-told. He always follows this the obvious way. Macbeth thinks that he should kill Banquo because the witches say that there will be a line of Banquo kings. Macbeth doesn’t want to loose the crown to Banquo or his son, so he tries to kill them both so the line will continue in his family. Macbeth also chooses to kill Macduff anyway, even though the witches said know one would kill him. The witches did not really mislead Macbeth; they only put an idea into his head, and left him to decide what action to take. Banquo tries to warn Macbeth away from the prophecies. â€Å"Were such things here as we speak about? Or were we eaten on the insane root. That takes the reason prisoner?†, (I,iii) In Act 1 Scene 3, we hear in Macbeth’s soliloquy how he is planning to achieve his aim. â€Å"Whose horrid image doth unfix my hair And make my seated heart knock at my ribs Against the use of nature? Present fears are less than horrible imaginings.† (I,iii) By Act 1, Scene 4, we can find evidence to suggest that Macbeth is hardened about committing high treason. In this scene, Macbeth is being very good to the King by what he is saying. This shows that he is trying to give the impression to the people around him that he has nothing against the King and would not kill him. They may not suspect him if they thought this. Lady Macbeth also shows her husband’s ambition to beShow MoreRelatedMacbeth: Hero or Villain2592 Words   |  11 PagesMacbeth: Hero or Villain In this essay, I will be divulging into Macbeth written by William Shakespeare in 1603, to try and answer the question Was Macbeth a true hero or villain in the play?. Macbeth is a play of villainy, murder, deceit and oftenly described as a play fit for a king. In my personal opinion, the evidence from Shakespeares original text and Roland Polanskis video version strongly suggests that Macbeth was a true villain rather than a hero. AnRead MoreHero to Villain in Macbeth by Shakespeare791 Words   |  3 Pagespossible to go from being a loyal hero to a selfish villain in a short period of time? 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He is also the honorable Thane of Glamis, but he is not a virtuous one. Macduff is very loyal Scottish nobleman, courageous and is also a Thane of a city. Banquo is a brave, courageous noble general who like Macbeth thinks ambitiousRead MoreWilliam Shakespeare s Macbeth - An Anti Hero1403 Words   |  6 Pagesbe the protagonist, antagonist, or even an anti-hero. A character may take actions that border on the antagonistic side, but still be the protagonist in which the audience is emotionally, though not always ethically, invested in. An anti-hero can be viewed simply as a protagonist who lies somewhere on the spectrum of villain and hero; never quite touching each end. In his play, Macbeth, Shakespeare makes it clear that Macbeth is really an anti-hero through his changing public appearance, his encountersRead MoreDefining Macbeth in William Shakespeares Play Essay562 Words   |  3 PagesDefining Macbeth in W illiam Shakespeares Play The character of Macbeth is a classic example of a Shakespearean tragic hero. There are many factors, which contribute to the degeneration of Macbeth of which three will be discussed. The three points, which contribute greatly to Macbeths degeneration, are the prophecies, which were told to him by the witches, Lady Macbeths influence and manipulation of Macbeths judgment, and finally Macbeths long time ambition whichRead MoreThe Tragic Hero Of Macbeth By William Shakespeare1724 Words   |  7 Pagesapplies to William Shakespeare s play Macbeth. The play is about a hero who reaches a high position in the play and then falls because of his choices. Macbeth is a tragic hero according to Aristotle s aspects that make a tragedy. Macbeth is neither a villain nor a perfect character, he appears in the play in a high stature, he starts to make multiple mistakes and due to his actions, he causes his downfall. First of all, Macbeth is neither a villain nor a perfect hero in the play. According to AristotleRead MoreEssay on Macbeth and Tragic Hero1071 Words   |  5 PagesMacbeth, a tragedy written by William Shakespeare in the 17th century, expresses clearly the strong pull that desire for power can have over a man. Macbeth, the title character of the play, is often expressed as being the villain of the tragedy. However, through studying the play closely it is clear to see that, rather than being an innately evil character, Macbeth is in fact a tragic hero, doomed by fate from the start to descend into the madness which he did. Had it not been for his hamartia andRead MoreMacbeth Character Analysis732 Words   |  3 Pages Macbeth Characterization is a vital component of a text. How does Shakespeare utilise character traits to demonstrate characters as either heroes or villains? Macbeth is a play about a man who is told three prophecies about his future and he decides to make sure they come true quicker, by killing his friends, but things don’t turn out well. Shakespeare uses character traits and characterisation to demonstrate characters as either heroes or villains. Macbeth is characterized as ambitious, powerRead MoreThe Degeneration of a Hero: Macbeth1158 Words   |  5 Pagesdegeneration of a hero: Macbeth Aristotle once said, The tragic hero must be neither villain nor a virtuous man, but a character between these two extremes.†[1] Such a person would be Macbeth, who begins as a highly respected thane by the King. However, due to the mystical prediction of the Three Witches and Macbeth’s unquenchable thirst for power, he determines to remove all obstacles standing in his way of becoming king. Shakespeare expresses his belief that anyone, from valiant hero to ruthlessRead MoreExamples Of Villainy In Macbeth811 Words   |  4 PagesVillainy in Macbeth: (Unseen in-class Exam) Shakespeare’s eponymous tragedy Macbeth explores the social mores of a Jacobean society by exploring ambition and villainy in the Scottish monarchy. Macbeth’s demise is perceived as inevitable and a direct consequence of being an iconoclast of the Jacobean attitudes, values and beliefs. Violating existing principles including the Divine Right of Kings and the Great Chain of Being – his transgressions cause the audience to deny Macbeth of sympathy, thus

Describe the Relative Size free essay sample

The word atom is derived from the Greek word atom which means indivisible. The Greeks concluded that matter could be broken down into particles too small to be seen. These particles were called atoms. Atoms are composed of three types of particles: protons, neutrons, and electron. Protons and neutrons are responsible for most of the atomic mass. Example; if a person weighed 150 lbs. approximately 149 lbs. and 15 ounces of that person would be comprised of protons and neutrons while only 1 ounce of their being would be made of electrons. Both the protons and neutrons reside within the nucleus. Protons have a positive charge, neutrons have no charge; they are neutral. Electrons reside in orbitals around the nucleus and have a negative charge. Atomic number is derived from the number of protons in an atom. Example, Helium, (H) = 1. The number of protons in an element is constant (e. g. , H=1, Ur=92) but neutron number may vary, so mass number (protons + neutrons) may vary. We will write a custom essay sample on Describe the Relative Size or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page However, the same element may contain varying numbers of neutrons; these forms of an element are called isotopes. The chemical properties of isotopes are the same, although the physical properties of some isotopes may be different. Some isotopes are radioactive-meaning they radiate energy as they decay to a more stable form, perhaps another element half-life: time required for half of the atoms of an element to decay into stable form. Another example is oxygen; with atomic number of 8 can have 8, 9, or 10 neutrons. Word Count: 253 Works Cited: Simon, Eric J. , Jane B. Reece, Jean Dickey, and Neil A. Campbell. Campbell Essential Biology. San Francisco: Benjamin Cummings, 2010. Print, (page 25). Structure of an Atom: http://www. nyu. edu/pages/mathmol/textbook/atoms. html