Biography of Adam Smith Essay -- Adam Smith Moral Philosopher Philosop

Biography of Adam Smith Smith was one of those 18th century Scottish moral philosophers whose impulses led to our modern day theories; his work marks the breakthrough of an evolutionary approach which has progressively displaced the stationary Aristotelian view Invisible Hand:- Â § "Every individual necessarily labors to render the annual revenue of the society as great as he can. He generally indeed neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good."(The Wealth of Nations). Government:- Â § "All systems either of preference or of restraint, therefore, being thus completely taken away, the obvious and simple system of natural liberty establishes itself of its own accord. Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of any other man or order of men. The sovereign [politician] is completely discharged from a duty, in the attempting to perform which he must always be exposed to innumerable delusions, and for the proper performance of which no human wisdom or knowledge could ever be sufficient: the duty of superintending the industry of private people." (The Wealth of Nations, vol. II, bk. IV, ch. 9.) Monopoly:- Â § "A monopoly granted either to an individual or to a trading company has the same effect as a secret in trade or manufactures. The monopolists, by keeping the market constantly understocked, by never fully supplying the effectual demand, sell their commodities much above the natural price, and raise their emoluments, whether they consist in wages or profit, greatly above their natural rate." (vol. I, bk. I, ch. 7.) Â § "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings by any law which either could be executed, or would be ... ...ts governor. He set forth the great lesson that all economists come to sooner or later. I quote Professor Heilbroner: "First, he [Adam Smith] has explained how prices are kept from ranging arbitrarily away from the actual cost of producing a good. Second, he has explained how society can induce its producers of commodities to provide it with what it wants. Third, he has pointed out why high prices are a self-curing disease, for they cause production in those lines to increase. And finally, he has accounted for a basic similarity of incomes at each level of the great producing strata of the nation. In a word, he has found in the mechanism of the market a self-regulating system which provides for society's orderly provision." (p. 49.) The difficulty I have with Robert Heilbroner, a most interesting man to read, is his assertion that the law of the market, is a man-made institution.18 The market is not something that we can choose to have or not to have, it exists and will exist no matter the political regime, and no matter the number of coercive laws we would like to pass. One cannot help coming to this conclusion as one expands the thoughts expressed in The Wealth of Nations.

Chad-Cameroon Oil Pipeline Essay

Although significant oil reserves have been found in the early 1970s, these could not be developed because: 1- Chad is a landlocked country with limited domestic demand; 2- civil war prevented the creation of a stable investment environment and caused the departure of several investors. Since peace was established in 1990, investors and the World Bank returned to Chad for developing its oil reserves. In order to justify the large investment, access to the world market was sought via a pipeline through Cameroon, which is also a relatively poor country that can benefit from the investment and transit revenues. The World Bank has been supporting natural resource extraction based development around the world and, in particular, in Africa as the primary driver for economic growth and poverty reduction in these countries. But, the Bank has also been heavily criticized for failing to achieve these goals as the revenues from resource development do not reach the majority of the society. With the Chad-Cameroon pipeline and oil development in Chad, the Bank and the companies are following a novel partnership and revenue management approach. How is the project financing different? How will this new approach work? Will Chad and Cameroon benefit from this approach? Background1 Upon getting its independence from France in 1960, Chad has been involved in 30 years of civil war. The peace was finally restored in 1990, and the country drifted towards multiparty democracy, until rebellion broke out again in the north of the country. In January 2002 peace treaty was signed confirming de jure reign of northern ethnicity. Chad is one of the least developed nations on earth with GNI per capita of around $200. Republic of Chad is ranked 165th of 175 countries in UN’s Survival Ranking. The agricultural sector accounts for 36% of Chad’s GDP. Cotton exports account for 50% of foreign currency earnings. Chad’s government is concerned about this dependence on cotton and wants to diversify its economy in order to mitigate vulnerability associated with volatility of the international price of cotton. Chad’s only significant natural resources are oil deposits. Being independent since 1960, Cameroon has developed a rather stable political system, based on ethnic oligopoly. Despite of vast natural resource base (including oil, natural gas and aluminum) the country is one of the poorest in the world, with GNI per capita of roughly $600 in 2002. According to World Bank classification Cameroon is an HIPC (heavily indebted poor country) with total debt of $4. 9 billion and outstanding short-term debt over $950 million. Cameroon is in Top-15 countries with highest HIV rate (around 12%) and in Top-30 infant mortality rate. Economic and social development information on this section comes from the World Bank web site, CIA Fact Book, and U. N. Human Development Report. Â © Center for Energy Economics. No reproduction, distribution or attribution without permission. Chad-Cameroon Pipeline 1 1 Case Study From Since 1990, being faced with a fall in GDP due to unfavorable prices on major exported goods; Cameroon has been engaged in several World Bank and IMF programs, aimed at poverty reduction and acceleration of economic growth. As a result annual GDP growth averaged 2. 1% through 1990-2001, compared to 3. 4% in 1980s. Oil Development Conoco became the first foreign oil company to undertake significant oil exploration in Chad with acquisition of the Chad Permit H concession in 1969. Between 1973 and 1975, oil was discovered in varying amounts in the Doba, Doseo, and Lake Chad basins, that led to the creation of a multinational consortium comprising Conoco (12. 5% and operator), Royal Dutch/Shell (37. 5%), Exxon (25%), and Chevron (25%). In 1981 all the exploration projects were stopped due to escalating civil war. In 1988 a convention was signed between the government of Chad and the consortium, granting exploration permit with term of validity until early 2004. Conoco withdrew from the project, and Exxon took over operations, discovering the Bolobo field in 1989 with estimated 135 million barrels of reserves. 3 Chevron, in its turn, sold its share (20% interest in the Block H hydrocarbon license containing the three fields) to Elf Aquitaine, in 1993.

Essay on The Deaths of Romeo and Juliet - 1166 Words

The Deaths of Romeo and Juliet Romeo and Juliet From forth the fatal loins of these two foes A pair of star-crossd lovers take their life; I dont agree with the quotation above because I think the tragic deaths of both Romeo and Juliet are caused by human decision. It is an indirect result of the decisions and actions Romeo and Juliet is one of Shakespeares plays about tragedy. It is about two lovers who commit suicide when their feuding famillies prevent them from being together. The play has many characters, each with its own role in keeping the plot line. Some characters have very little to do with the plot but some have the†¦show more content†¦Romeo and Juliet first met each other at a party at the Capulets house. They fall in love with each other at the first sight without knowing that they are from families who hate each other, and when they do learn about it, it is too late. Juliet realizes that it was a mistake to fall in love with Romeo, because he is one of the people she should watch out for. He is her first and only love, but he is an enemy of her family. Lucky for Romeo, Juliet is smart, and such dumb thing as hate between their parents wouldnt stop her from loving Romeo and getting married with him. She is sorry that their families are enemies, though, because everything would be much easier if they werent. So this is the first time when the hate between Capulets and Montagues becomes problem to Romeo and Juliets happiness. Only after their children die, the Montagues and Capulets come to their senses. The Prince accuses them of killing Romeo and Juliet. The Prince makes them see how wrong they were all the time, that all because of their hate, because they couldnt let their children love each other, Romeo and Juliet died. After that, Capulets and Montagues decide to call it quits. No more fighting, and Montague even says that he will make a gold statue of Juliet, but what is that going to do? It is too late, nothing will bring them back. It is totally Capulets and Montagues fault that Romeo and Juliet died. If they didnt hate each other so much,Show MoreRelatedThe Deaths Of Romeo And Juliet1766 Words   |  8 PagesDuring the lead up to the deaths of Romeo and Juliet, many events took place which contributed to Romeo and Juliet’s actions. Both Romeo and Juliet knew of the consequences if their secret relationship were to be exposed yet they continued to go behind their family’s backs and deny their families laws. Likewise, Romeo and Juliet both committed suicide therefore it was ultimately their choice to end their own lives. The only other people who knew about Romeo and Juliet’s love also knew the consequencesRead MoreRomeo And Juliet Essay On Death1548 Words   |  7 Pagesthe play Romeo and Juliet, Shakespeare shows Romeo’s infatuation with two things: death, and Juliet, one overpowering the other. Romeo is suicidal; everything related to eternal rest peaks his interest. Juliet causes Romeo to die which reveals that Juliet did what death itself could not. She helped Romeo forget about the harsh realities of the world, whereas death allowed Romeo an option in the end where he could be alongside his one and only true love. Whether it be in hell or heaven, Romeo would haveRead MoreRomeo And Jul iet Death Essay715 Words   |  3 PagesDestination, where death is unstoppable. Every decision and action made by the characters can be fated by the universe. William Shakespeare clearly shows fate in this play Romeo and Juliet. Shakespeare uses foreshadowing to illustrate the idea of predetermined death. Others may say that the feud and Paris are responsible for the death of Romeo and Juliet but it’s clear that fate is responsible. Fate is repeated throughout the book making it unquestionable for Romeo and Juliet’s death. Since the beginningRead MoreThe Theme of Death in Romeo and Juliet921 Words   |  4 Pagesâ€Å"Romeo Juliet† is one of the most famous and enjoyed literary pieces of all time. The play is written by the playwright William Shakespeare and it conveys the tragic love story of two star-cross’d lovers with a remarkably beautiful language. The play, since it’s a tragedy is permeated by death and all the main characters feel the impact of death either by dying, or witnessing deaths. Throughout the play the reader is able to identify two types of death; death by suicide and death by homicide. A conscientiousRead MoreThe Death Of Romeo And Juliet s Death1312 Words   |  6 PagesOnce upon a time there was a boy named Romeo and a girl named Juliet, who lived separately but loved each other dearly. This story is about a boy and a girl whom their families hated each other d eeply and they were enemies because they always fight with each other. The end of this beautiful love ended in tragedy with the death of the two star- crossed lovers, Romeo and Juliet. Many people had different opinions about who to blame for Romeo and Juliet’s death. Some of them said that the environmentalRead MoreRomeo And Juliet Death Essay1113 Words   |  5 PagesThe Deaths of Romeo and Juliet Those in thought of importance and trust along with secrets must take matters into their own hands, never trust another man do to one mans work. In Shakespeare’s 1597 written play, The Tragedy of Romeo and Juliet, Friar Lawrence is to blame for the death of Romeo and Juliet because he, secretly/ignorantly, married Romeo and Juliet, didn’t make sure the letter got to Romeo in time, and put Juliet to a fake death. Friar Lawrence married Romeo and Juliet when theirRead MoreDeath In Romeo And Juliet Essay850 Words   |  4 PagesBrianna Isabella Reyes Ms. Taccone Period D 11/16/17 The Fault of Death in Romeo and Juliet â€Å"I am the master of my fate, I am the captain of my soul.† This is a line from a poem written by William Ernest Henley. Self-control is where you control your own fate and you guide your own soul, Henley expressed this through that quote. His idea can be applied to many things, one being the story of Romeo and Juliet by William Shakespeare. In the story, the characters are big believers in fate where coursesRead MoreThe Tragic Deaths Of Romeo And Juliet1458 Words   |  6 PagesThe tragic deaths of Romeo and Juliet are not the fault of just one person; it is the fault of many. In fact, the blame could be placed on each character – if anyone acted in a different way, there could have been a different ending. Some had a greater impact on their deaths than others however, namely the families and the feud, the Friar Lawrence, Mercutio, Balthasar and Romeo Juliet themselves. Some may argue for other characters, but the actions of these five ultimately had a more promi nentRead MoreCauses Of Death In Romeo And Juliet768 Words   |  4 Pages The Final Push To Fatal Ends The deaths and conflicts of Romeo and Juliet are thoroughly frustrating, woven around lies, love, and control. Each generation reading the classic Shakespeare play draws different conclusions and opinions on the lover’s tragedy. The faults and flaws of many characters shifting and altering the events resulting in six deaths. Romeo, the main character rather impulsive and quick to act, makes decisions that causes foreseeable conflicts to occur. As bodies drop and conflictsRead MoreCauses Of Death In Romeo And Juliet850 Words   |  4 Pages â€Å"O Romeo, Romeo! Wherefore art thou Romeo?† Romeo and Juliet is a famous play of two lovers that committed suicide to be with each other. There are many people within this play that helped the cause of Romeo and Juliet’s suicide. The three main characters that caused their death are Tybalt, The Apothecary, and Lord and Lady Capulet. The reason Tybalt is at fault is because he kept trying to fight Romeo. The reason he is fighting Romeo is the Romeo is a Montague. According to the text â€Å"This, by