Statement of Purpose I have chosen to pursue graduate studies University of Reading for admission to the MSc Financial Engineering, which is collaborated between Henley Business School and ICMA Centre. I am interested in finance, commodities trading, and derivatives, especially a quantity analysis. Throughout my undergraduate education in Computer Engineering, in Thailand, my coursework involved a mix of subjects between Computer Sciences and Electronics, including computer programming, algorithm
There are many definitions of a commodity, some more elaborate than others. Examples are: (i) A product which trades on a commodity exchange; this would also include foreign currencies and financial instruments and indexes. (ii) A physical substance, which is interchangeable with another product of the same type, which investors buy or sell, usually through futures contracts. The price of the commodity is subject to supply and demand. Risk is actually the reason exchange trading of the basic agricultural
Heating Commodities Back in the middle of October, the price of natural-gas had risen because a gas company was forced to shut down a pipeline due to the need for repairs. This impending shortage led to the decrease in prices for other heating commodities, as well as larger profits. The demand for energy was becoming greater and greater because it was that time of year when consumers began storing energy in their homes to prepare for the cold winter months ahead. The four commodities mentioned
world they are living, we can also say, is the transformation of people own labour into power which rules them as if by a kind of natural or supra- human law. The origin of Alienation is FETISHISM-, which means the belief that inanimate things (COMMODITIES) have human powers that will be able to govern the activity of human beings. [Estrangement &Alienation]. Marx points out, that Alienation is the human labour, which created culture and history. The formation of an exchange economic is the
we be working so hard for if we made the same amount of money as a trash man? He had many other views that were just as important. Adam Smith believed that a nation's wealth was not derived by how much they had in resources, or in an exchangeable commodity, but rather by the labor that its residents produce. "The annual labor of every nation is the fund which originally supplies it with all the necessaries and conveniences which it annually consumes." (Wealth of Nations, p. 1) He stated that a nation
the means of production. He will be paid a wage. Marx makes it very clear that the wage is paid not for the labour, but for the labour-power, that is, the use of the worker for whatever set amount of time. Marx writes: "Labour-power, then, is a commodity, no more, no less so than is the sugar. The first is measured by the clock, the other by the scales." (1847. Wage-Labour and Capital. pg 3. All subsequent references will be marked by page number only.) The wage that the worker is paid will be
The American Economy The American economy is a vibrant, free-market system that is constantly developing out of the choices and decisions made by millions of citizens who play multiple, often overlapping roles as consumers, producers, investors and voters. The changes in the organization and performances of the manufacturing industry over the last century have helped shape the American economy. The Automotive industry perhaps made the biggest changes to their manufacturing processes. I will be
surrogate is fully educated about the process. Although surrogacy should be legally permissible, I argue that adoption should be the primary means of "having" a child. Commodification: Surrogacy commodifies women and children by selling that which is “market-inalienable,” meaning something that should not be sold, but even more broadly it takes humans and treats them as things rather than thinking and reasoning beings (p.174). Radin identifies non-fungible objects as alienable or central to who the person
Commodity Fetishism in Edith Wharton’s The Age of Innocence Commodity fetishism is a term first coined by Karl Marx in his 1867 economic treatise, Das Kapital. It takes two words, one with a historically economic bent and another with a historically religious bent, and combines them to form a critical term describing post-industrial revolution, capitalist economies. Specifically, this term was used to describe the application of special powers or ideas to products that carried no such inherent
well as the value of inventories of finished commodities awaiting sale. Each of these aggregations of commodities has a value, usually expressed as the equivalent of a certain amount of money, but it is clear that neither goods in process nor fixed capital is money. Marx views the value of commodities in this sense as analytically prior to money; money can be explained according to Marx only on the basis of an understanding of the value of commodities. Marx follows Smith in regarding value as
loosed the restraint of many tongues, that have made it an apology for "the evil communications which corrupt good manners." We are painfully tempted to believe that it is a book made for the market, and that the market has made it merchantable, as they do game, by letting everybody understand that the commodity is in
Monopoly INTRODUCTION Monopoly is an economic situation in which only a single seller or producer supplies a commodity or a service. For a monopoly to be effective there must be no practical substitutes for the product or service sold, and no serious threat of the entry of a competitor into the market. This enables the seller to control the price. One or more of the following elements are of great importance in establishing a monopoly in a particular industry: (1) Control of a major resource
“People recognise themselves in their commodities; they find their soul in their automobiles, hi-fi sets, split level homes………social control is anchored in the new needs which the consumer society has produced." (Marcuse,1968:24)To what extent are we controlled by the consumer society we live in? The rise of the consumer culture is a phenomenon characteristic for the twentieth century. The impact of this cultural movement is disputable. The quote above was taken from Marcuse’s book “One dimensional
inward looking and outward looking strategies and discuss the assertion that the latter is superior. The First Stage of Import Substitution: All present day industrial and developing countries protect their manufacturing industries for the domestic markets. While the industrial countries of today rely primarily upon the usage of relatively low tariffs, developing countries apply high tariffs or quantitative restrictions which either limit or completely exclude competition from their imports. Protection
what process it goes through to get to you. You also might want to ask yourself about the health hazards of caffeine, sugar, or whitener etc. Social analysis tries to make clear how basic needs of life are being transformed into commodities. It helps show us where the market is violating people's fundamental rights, like clean air, clean water, and proper health care. Social analysis also helps us become critical, which means becoming conscious, aware, and questioning. It helps us develop an attitude
progressed to ensure their survival, although they may not play the vital role they once did, as can be seen through the examination of ancient textiles. Textile production was a major part of the economy in the early Southwest because it was a tradable commodity and brought wealth and other goods to the communities. Through trading, the communities were able to be complete in the resources that they were lacking and they were able to communicate with other communities. In addition, weaving brought women
minimum effort in evaluating the quotes themselves. After discussing the importance of culture to Canadians he went on to mention how culture is not as important to Americans with his statement “For Americans, in contrast, cultural products are commodities like any other..”. Although this may strengthen his argument, it is also a biased statement since he is not American himself and he stated it like it was a known fact. Following that accusation, he attempted to support his idea of America’s dissolving
Walking through the aisles of many grocery stores, labels such as "organic," "all-natural," and "dairy-free" describe an ever-increasing number of products on the shelf. A growing interest in healthy eating has spurred the manufacture of these commodities, but they are often so highly priced that many of the shoppers cannot justify fitting the extra cost into their budgets. In addition, though these goods have been organically produced, they may have traveled long distances to reach the shelf, increasing
Smith Quotes Monopoly...is a great enemy to good management. The Wealth of Nations, Book I Chapter XI Part I p148 The monopolists, by keeping the market constantly understocked, by never fully supplying the effectual demand, sell their commodities much above the natural price. The Wealth of Nations, , Book I, Chapter VII, p63 The price of monopoly is upon every occasion the highest which can be got. The Wealth of Nations, , Book I, Chapter VII, p63 People of the same trade seldom
any disaster that could cause a dramatic population decrease, humans will eventually overrun the amount of space available on Earth. Another concern is the availability of the Earth’s natural resources. Humans use Earth’s resources for energy and commodities. According to the Living Planet Report 2002, approximately 20% more resources than can be naturally replenished are harvested from the Earth each year. If this rate continues, two Earths would be required to supply resources by the year 2050; if