Maslow s Hierarchy Of Motivation - 890 Words

In the world we live everyone possess different perspective of something to motivate them. Maslow’s Hierarchy describe motivation in a pyramid that detailed the levels of such things. The first level of this pyramid is the physiological aspect which it states that human beings need breathe normally in order to survive, be able to eat every day, have access to water, as well as being capable to have sexual relationships, and finally being able to have a comfortable sleep. In illustration of this level we could look at our own behavior as we feel the need to eat and sleep, also we all go through the circle of life which is homeostasis. The second level is safety this level covers security of: body, employment, resources, morality, family, health, and property. As an example the way we seek employment as a way to gain economic safety and the necessary of wealth to keep moving every day. The third level deals with friendship, family, and sexual intimacy. This is the level that co uld be describe as affections we need and give on an everyday basis. For example, we all at least have one person we care about like a family member or a partner. In addition sexual intimacy is a necessary for a successful relationship. In the fourth level we could find the concept of esteem which is broke-down in self-esteem, confidence, achievement, respect of others, and respect by others for instead, the respect we give to teacher and the respect we get from them. Also if you are a shy personShow MoreRelatedMaslow S Theory Of Motivation And Hierarchy Of Needs2239 Words   |  9 Pagesï » ¿ Maslow s Hierarchy of Needs Theory Pablo Valdez Liberty University Abstract Abraham Maslow introduced a very simple way of understanding the needs of a person. The Hierarchy of Needs sorts the needs of the lowest and most basic levels to the higher levels. Maslow then arises within their theory of personality, the concept of hierarchy of needs, which needs are structurally organized with varying degrees of power, according to a biological determination given by our genetic makeupRead MoreMotivation Theory And Maslow s Hierarchy Of Needs917 Words   |  4 Pagesthey are capable of being, and is based upon the premise that humans are inherently predisposed to improve themselves (Deci, Ryan Guay 2013). Two important theories of the path to self-actualization include self-determination theory and Maslow’s hierarchy of needs. There are noted similarities and differences between the two theories. Self-determination theory describes three patterns of behavior that are important for self-actualization. The first important patterns of behavior are those intrinsicallyRead MoreThe Hierarchy Of Needs Theory Essay1267 Words   |  6 PagesThe Maslows Hierarchy of Needs Theory Living beings act, and their behavior is driven by incentives, needs, and drives. Animals act only by their instinctive desires. The behavior of animals is due to instinctive desires rather than by thought. However, where does man s behavior originate from? Many psychologists have studied this topic with interest. Man s behavior is also influenced by human desires. However, how human desires influence human behavior is a very important issue. OnRead MoreMotivation, As The Causes Of Our Behaviour1644 Words   |  7 PagesMotivation Introduction Mitchell (1982, p.82) describes motivation as â€Å"the degree to which an individual wants and chooses to engage in certain specified behaviours†. Hence, in general, behaviour is determined by certain motives, thus, Vroom and Deci (1992, p.33) considered motivation â€Å"as the causes of our behaviour†. Moreover, according to Mullins (2013, p.245) motivation is concerned with question â€Å"why do people do what they do?†, because motivation is an inner driving force which leads to particularRead MoreEvaluate The Theory Of Motivation From Humanistic Perspective Essay1624 Words   |  7 PagesEvaluate the theory of motivation from the Humanistic perspective. By Marialena Posteraro Throughout this paper evaluation of motivation from a Humanistic perspective will be examined. Motivation is the drive within humans that makes us act, it is a process that influences goal directed behavior. Drives are considered internal factors that push an organism into action. Throughout our lives, we have certain drives within us that motivate us to behave and act in a certain way to fulfill ourRead MoreMaslow s Hierarchy Of Needs1741 Words   |  7 PagesMaslow’s hierarchy of needs and Herzberg’s. The Maslow’s hierarchy of needs include five levels, and at the certain extent, reflect the rule of human s activities on psychological and behavior. Herzberg’ describe the more details of worker agree or disagree about working. In this essay, more related knowledge details and effects will de described, then, analysis the two theories individual, choose a better one. II. Describe the two theories. 2.1Maslow’s hierarchy of needs The Maslow’s hierarchy of needsRead MoreMotivation Theories Of A Diverse Workforce During Times Of Change Essay1696 Words   |  7 PagesLeadership, Motivation, Change Introduction In this paper two motivation theories in a diverse workforce during times of change will be discuss. Differences, including theoretical premises, between two models will be explained. Details relates to challenges and opportunities in a diverse workforce will identified. Strategies to keep a workforce motivated during organizational change will be point out. Two Motivation Theories To begin this discuss a definition of motivation is presentedRead MoreWhy Do We Do What You Do?1508 Words   |  7 PagesMotivation can be defined as the commitment to do something to get closer to your goal (Gagn and Deci, 2005). However, in the perspective of a business it is the determination to work and the willingness to be productive. There are a variety of views on what motivates employees and leads them to their full potential and that has been the concern of theorists and entrepreneurs for the past century like Maslow, Herzberg, Elton Mayo and Fredrick Winslow Taylor. Many theories have been made to understandRead MoreMaslows Essay1160 Words   |  5 PagesAbraham H Maslow was a psychologist who developed a theory that sought to explain human behaviour in terms of basic needs for survival and growth. (www.enotes.com. 2002). This paper will define Maslow’s theory (a ‘hierarchy of needs’) and explain how differences in priorities influence and inform upo n consumer behaviour. Maslow developed his ‘hierarchy of needs’ in an attempt to describe patterns of human behaviour, and to try to understand the processes behind the actions of consumers. In essenceRead MoreMotivation Theories, Content And Process Theories910 Words   |  4 PagesMotivation in the workplace can often be a difficult challenge for organizations to address. The capability to effect motivation is believed to be vital in a corporation, as a motivated worker is often an effective one. Needs theories of motivation are implemented in order to assist managers in improving employee’s work rate, efficiency and output. There are two main types of needs motivation theories, content and process theories. These methods also try to ensure employee turnover will decrease

Farming During The Great Depression - 1210 Words

Alexis Teters Mr. Zahler History 20 November 2015 Farming During the Great Depression There were many factors that caused the Great Depression. But one of the main causes of the Great Depression was the farming conditions. Before the Great Depression life was great! The American life was starting to get better and better. But In the early 1930 s soil was reduced to dust and eroded, because of drought and improper farming practice. This period of long, stressful farming conditions was known as the Dust Bowl. It led to the increased number of deaths in the 1930’s. The Dust Bowl has some major effects on the U.S. such as death, people unable to pay taxes and people were unable to purchase food. Before the Dust Bowl, life was pretty good. The nation just survived a very deadly influenza epidemic in 1918. The car was a fairly new invention and was starting to be a pretty popular thing. People had more leisure time and would often do things like watch a baseball game or gather with friends and family to listen to the radio. Women started to defy standards set for them. These women otherwise known as flappers, would smoke in public, wear skirts that had the hemline adjusted so they were just past the ankle, intertwine with the male gender more often and in more rebellious ways and wear makeup. Businesses started paying their workers a more appropriate wage. This meant consumers were able to buy the products businesses were selling without going into debt. The United States wasShow MoreRelatedThe Struggle Of The 1920s1322 Words   |  6 PagesThe Struggle of the 1930s: What the Great Depression Did to America During the decades of the 1920s and 1930s, the United States underwent a series of changes that had a drastic effect on people across the nation. As the economy began to slow to a halt, millions of people were left broke and without jobs. As the country’s farmers were paralyzed with debt, food prices increased radically (McElvaine). During the mid-1930s, a series of droughts coupled with poor agricultural methods led to years ofRead MoreThe Famine Of The Great Plains1202 Words   |  5 PagesIn the 1930’s one of the most devastating environmental catastrophes occurred in the United States. It was called the â€Å"Dust Bowl†. This decade-long drought, of the Great Plains, was caused by inappropriate and poor farming practices. Not only was there a drought; there was also a severe economic depression that was occurring as well. This combination of economic failure and the drought led to a desolate land, lost lives, misplaced workers, and lose of crops and live stock. The time in historyRead MoreThe Great Depression And Dust Bowl1165 Words   |  5 PagesEnglish III 6 April 2017 The Great Depression/Dust Bowl The ‘Dirty Thirties’ is perhaps one of the most known time periods in American History. During the 1930s, the worst and longest drought occurred in the United States, this was also know as the Dust Bowl. According to Christopher Klein, the Dust Bowl is considered both a man-made and natural disaster. In fact, many events contributed to the Dust Bowl such as poor farming techniques, a severe drought, and economic depression. One of the main causesRead MoreThe Great Depression : The Dust Bowl984 Words   |  4 Pages The Great Depression was a horrible time in American history, with as much as one-fourth of the population out of work. One of the hardest hit areas of the population was the agricultural center of the United States in the area that would come to be known as the Dust Bowl. The problems that the people of the Dust Bowl dealt with however were not a result of the Depression as a whole but instead were the result of a combination of bad farming decisions and a horrible drought. Even though the timingRead MoreThe Cause and Effects of the Great Depression Essay1443 Words   |  6 Pagesspeculate that the stock market crash of 1929 was the main cause of The Great Depression. In fact, The Great Depression was caused by a series of factors, and the effects of the depression were felt for many years after the stock market crash of 1929. By looking at the stock market crash of 1929, bank failures, r eduction of purchasing, American economic policy with Europe, and drought conditions, it becomes apparent that The Great Depression was caused by more than just the stock market crash. The effectsRead MoreDust Bowl of the 1930s911 Words   |  4 Pages The â€Å"Dust Bowl† was the name given to the Great Plains region that was greatly affected by drought in the 1930’s during the Great Depression. The major contribution that led to the Dust Bowl was overproduction of crops however there were some natural causes. â€Å"Much of the soil there had been damaged by wind and rain. The soil in this area was subjected to water and wind damage because the protective cover of vegetation was impaired through poor farming and the grazing of too many animals† (WorldRead MoreThe Success Of The Great Depression946 Words   |  4 PagesThe Great Depression built itself out of a time when farm systems failed, people in factories were losing money and jobs, the stock market cras hed, and no one had much confidence that anything good was going to happen ever again. Some thought it was going to be over quickly. Shortly after the big crash in October 1929, Andrew W. Mellon, the Secretary of the Treasury said, The government s business is in sound condition. The truth was that no one s business was in good condition and would notRead MoreThe Great Depression 1051 Words   |  5 PagesFormer President Calvin Coolidge said, â€Å"In other periods of depression, it has always been possible to see some things which were solid and upon which were solid and upon which you could base hope, but as I look about, I now see nothing to give ground to hope- nothing of man† and to some extent it was true. Americans lost all hope in life entering a deep dark tunnel with no light in the end. The Great Depression was not something that appeared out of thin air; it grew over time like a tumor andRead MoreThe Experience of Suffering in John Steinbecks Grapes of Wrath554 Words   |  3 Pages The ideal American Dream for all the migrants who are hardly surviving the Great Depression and the Dust Bowl. John Steinbeck’s ultimate goal by writing this phenomenal, very controversial and outrageous novel was to bring the reader back in time in order for them to experience the life of the migrants suffering during the great Depression but also to criticize all the high authorities—most particularly in the farming industry—who have mistreated the migrants and given them false hopes. Steinbeck’sRead MoreFDR’s Alphabet Soup1158 Words   |  5 PagesDuring the summer of 1933, job recovery was still a major part of ending the Great Depression. The National Industrial Recovery Act (NIRA) and the National Recovery Administration (NRA) was the largest piece of industrial recovery and regulations during the time period. FDR stated, â€Å"Its object is to put industry and business workers into employment and increase their pur chasing power through increased wages.† It did abundantly more than that. It also ended child labor, sweat shops, and lowered weekly

Characterization Of A Glycerol Based Polymer Environmental Sciences Essay Free Essays

string(33) " of glycerin with iminodiacetic\." In oleochemical industry, glycerin ( 1,2,3-propanetriol ) is ever produced as a byproduct in the fabrication of acids, soaps, methyl esters, intoxicants or nitrogen-containing derived functions. It can besides be made from propene via epichlorohydrin ( 1-chloro-2,3-epoxypropane ) . However, the petrochemical supply path is less of import due to the increasing supply of glycerin from oleochemical industry, the high monetary value of propylene and the demand for epichlorohydrin for other intents ( Gunstone A ; Henning, 2004 ) . We will write a custom essay sample on Characterization Of A Glycerol Based Polymer Environmental Sciences Essay or any similar topic only for you Order Now Figure 1.1 Glycerol Glycerol possesses a alone combination of physical and chemical belongingss which are utilized in many commercial merchandises. It is hygroscopic, colourless, odorless, syrupy, sweet-tasting, low boiling point, non-toxic, demulcent, a good dissolver, and H2O soluble. Besides, it is easy biodegradable ( Gunstone A ; Henning, 2004 ) . Furthermore, it is really stable under normal storage conditions, compatible with many other chemical stuffs, non-irritating in its assorted utilizations, and does non hold negative effects on the environment ( Pagliaro A ; Rossi, 2008 ) . The glycerin market is presently undergoing extremist alterations, driven by really big supplies of glycerin originating from biodiesel production. The attempt to cut down the dependance on foreign oil has increased the production of biodiesel and glycerin is the major co-product from the transesterification procedure used to bring forth biodiesel. Hence, there is a demand to happen new utilizations for glycerin. Polymerization is one of the methods which big sum of glycerin can be used ( Wyatt et al. , 2006 ) . There two types of polymerisations. First, soluble merchandises are obtained irrespective of the extent to which the reaction is carried toward completion. The merchandises formed are chiefly additive polymers. The 2nd type of polymerisation is those that lead to gelled or indissoluble merchandises, provided that the reaction is carried far plenty. The reactants are capable of bring forthing big three dimensional molecules ( Flory, 1941 ) . Harmonizing to Flory ( 1941 ) , gelation occurs merely when there is the possibility of limitless growing in three dimensions. It is a important feature of polymerising systems to hold a aggressively defined gel point at a certain critical extent of reaction which is independent of temperature, sum of accelerator and so on. Through polymerisation of glycerin, the pre-polymers synthesized could be farther reacted to bring forth longer ironss of hyperbranched polymers. Hyperbranched polymers belong to the household of supermolecules known as dendrimers. Dendrimers are extremely branched monodispersed molecules produced by multistep syntheses. Preparation of dendrimers requires a high grade of pureness of the get downing stuff and high outputs of the single man-made measure. On the other manus, hyperbranched polymers are indiscriminately branched molecules prepared by a simple one-step reaction ( Wyatt et al. , 2006 ) via polyaddition, polycondensation, extremist polymerization, and so forth, of an ABn monomer ( Vogtle et al. , 2009 ) . Due to their alone combination of low viscousness, first-class solubility, and facile synthesis, hyperbranched polymers have received important attending ( Lin, Q A ; Long, T.E. , 2003 ) . Chemical reaction of the functional A groups with the functional B ( matching ) groups of a 2nd monomer molecule gives rise to randomly branched molecule. Since the C groups are present in surplus ( n a†°? 2 ) , crosslinking are avoided from the beginning. Chemical reaction can be brought to a standstill by addtion of stopper constituents. Since the synthesis of hyperbranched polymers does non affect matching to core molecule, but merely ABn monomers react with one another. Both bifurcate molecules and additive sequences possibly formed ( Vogtle et al. , 2009 ) . Hyperbranched polymers produced from diacids ( A2 ) and glycerin ( B3 ) are an illustration of the AB2 system. AB2 monomers are non readily available and kinetic computations show that the first condensation reaction, which produces an AB2 species, is faster than the subsequent polymer extension. Therefore, the balance of the reaction progresses as polycondensation between AB2-type species prior to the gel point. Several methods have been used to avoid gelation in A2+B3 systems, including executing the reactions in dilute solutions or responding them in the absence of dissolvers while monitoring. This glycerol-based polymer is expected to demo similar belongingss and features as polyalkylene ethanediol ( PAG ) . A polyalkylene ethanediol holding the general expression: HO- [ R-O- ] n H in which N has a value of at least 2 and R is an alkylene extremist containing at least 10 C atoms. PAG liquid are used as man-made lubricators in many diverse applications. Therefore, glycerol-based polymers could besides hold the possible to be use every bit high public presentation lubricator, coolant or as a lubricant additive ( such as viscousness qualifier ) . Materials with polymeric constructions can be used in lubricator to heighten its belongingss, such as viscousness, pour point and so on. It can be used as get downing stuff for certain types of additives. These polymeric additives can be viscosity modifier, pour point sedatives, emulsifiers and demulsifiers, and foam inhibitor in lubricators ( Totten, G.E. et al. , 2003 ) . Oils can be effectual lubricators at low temperature. However, at higher temperature, they become less effectual. To get the better of this job, viscousness qualifiers are utile in minimising viscousness fluctuations with temperature. Viscosity qualifier is a polymer with mean molecular weights of 10000 to 150000. At all temperatures, viscousness qualifier is able to increase oil ‘s viscousness. The thickener of oil at lower temperature is less than that at higher temperature. At low temperatures, the polymer molecules busying a little volume have a minimal association with the majority oil. The state of affairs is reversed at high temperatures as the polymer ironss expand due to the increased thermic energy. Besides, at higher temperatures, polymers are more soluble and hence do the viscousness to increase ( Totten, G.E. et al. , 2003 ) . There are two types of viscousness qualifiers available commercially: olefin-based polymers and ester polymers. Polyisobutylenes ( PIBs ) , olefin copolymers ( OCPs ) , and hydrogenated styrene-diene ( STDs ) polymers. Ester polymers include polymethacrylates ( PMAs ) and styrene ester polymers ( SEs ) ( Totten, G.E. et al. , 2003 ) . Literature Review In a research done by Wyatt and his colleagues ( 2006 ) , fresh oligomeric prepolymers were synthesized by acid-catalyzed condensation of glycerin with iminodiacetic. You read "Characterization Of A Glycerol Based Polymer Environmental Sciences Essay" in category "Essay examples" The prepolymers were obtained after purification by chromatography in an mean output of 62 % . The compounds were characterized by utilizing 13C NMR, 1H NMR, matrix assisted laser desorption ionization-time of flight-mass spectroscopy, and gel pervasion chromatography. It was discovered that additive merchandises bearing cyclic urethane constructions were obtained in the reaction between iminodiacetic acid and glycerin. Qi Lin and Timothy E. Long ( 2003 ) studied the polymerisation of A2 with B3 monomers to bring forth hyperbranched poly ( aryl estrer ) s. A dilute bisphenol A ( A2 ) solution was added easy to a dilute 1,3,5-benzene tricarbonyl trichloride ( B3 ) solution at 25A °C to fix hyperbranched poly ( aryl ester ) s in the absence of gelation. The molar ratio of A2: B3 was maintained at 1:1. The maximal concluding monomer concentration was ~0.08 M. The phenol functionalities were quantitatively consumed during the polycondensation. This was showed in 1H NMR spectrometry and derivitization of terminal groups. Two theoretical account compounds were synthesized to place 1H NMR resonances for additive, dentritic, and terminal units. The concluding grade of ramification was determined to be ~50 % . The hyperbranched polymers exhibited lower glass passage temperatures compared to their parallels. J.F. Stumbe and Bernd Bruchmann ( 2003 ) besides used the A2+B3 attack to fix hyperbranched polyesters with controlled molecular weights and belongingss. The procedure was carried out by responding glycerin and adipic acid without any dissolvers. Tin accelerators was used. The merchandises were evaluated by size exclusion chromatography ( SEC ) analysis and NMR spectrometry to find molecular weights and grades of ramification. A survey was besides carried out on the glycerin esters from reaction of glycerin with dicarboxylic esters. The glycerin esters were synthesized by the base catalyzed reaction of glycerin with aliphatic dicarboxylic acid esters ( such as dimethyl oxalate, dimethyl glutarate, dimethyl adipate, etc ) . Assorted parametric quantities that may impact the transesterification were studied in order to optimise the output of merchandises. The reactions were carried out by changing the glycerol/ester molar ratios. The optimal ratio was 4:1, whereby the measure of the monoester was 60 % after 8 h. The transition decreased somewhat when the grinder ratio exceeded 4:1. At higher temperatures, the sum of monoester in the reaction mixtures increased and it reached a maximal degree after 6 H when the reaction was carried out at 100 A °C to 120 A °C. It took 8 H at a lower temperature. However, the overall output at the terminal of the reaction was non affected by the temperature. The formation of both monoester and diester were produced in an overall output of 80 % after 15 H of reaction clip ( Cho et al. , 2006 ) . Sunder et. Al. ( 1999 ) carried out a controlled synthesis of hyperbranched polyglycerols by pealing opening multibranching polymerisation. Hyperbranched aliphatic polyethers with controlled molecular weights and narrow molecular weight distribution were prepared via anionic polymerisation of glycidol with rapid cation-exchange equilibrium. Glycidol which represents a cyclic AB2 monomer was polymerized in a ring-opening multibranching ( ROMBP ) . The anionic polymerisation was carried out under slow add-on conditions with partly deprotonated ( 10 % ) 1,1,1-tris ( hydroxymethyl ) propane ( TMP ) as the instigator. 13C NMR, MALDI-TOF spectroscopy, vapor force per unit area osmometry ( VPO ) , and GPC were used to qualify molecular weights and polydispersities of the polyols formed. The 13C NMR spectra used to measure the grade of ramification ( DB ) ranged from 0.53-0.59. A complete fond regard of hyperbranched polymers to TMP instigator and the absence of macrocyclics were showed in M ALDI-TOF spectra. There was no macrocyclics or hyperbranched supermolecule obtained, due to decelerate addtion. T.J. Mulkern and N.C. Beck Tan ( 2000 ) studied a series of blends of hyperbranched polyester with high molecular weight polystyrenes. The processability and compatibility in the blends were investigated as a map of volume fraction of hyperbranched polyols ( HBP ) added and responsiveness of the matrix stage. Due to its low viscousness and high responsiveness, HBP polymers are suited for reactive polymer blending. Through processing and rheological surveies, it was found that HBPs are effectual processing AIDSs. A important bead in the blend viscousness occurs instantly on add-on of HBP, even at degrees every bit low as 2 vol. % . In 1934, Herman Bruson discovered a man-made oil additive when he was researching the synthesis and possible applications of longer alkyl side concatenation methacrylates. Bruson ‘s innovation, polymethacrylates ( PMAs ) was found to hold the possible to work as thickening or viscousness index humanitarian for mineral oils. It increases viscousness at higher temperature more than at lower temperatures ( Kinker, B.G. , 2009 ) . The alkly group in the ester part of the polymer can be altered to obtain merchandises with better oil solubility and viscosity-improving belongingss. It besides have good compatibility with a big figure of refined and man-made basestocks. In a survey by Duncan and Turner ( 1997 ) , blends of lubricant basestocks with high viscousness complex intoxicant esters were produced. The blend comprises of a polyhydroxyl compound R ( OH ) N, a polybasic acid and a monohydric intoxicant. The complex intoxicant ester showed a pour point of less than or equal to -20A °C and a viscousness in the scope about 100-700 Central Time at 40A °C. The lubricating oil harmonizing to Duncan and Turner ‘s innovation has first-class prurience as determined by engine public presentation, vane pump trial, Yamaha Tightening Test, and reduced valve lodging. Besides, it has good stableness as evidenced by the consequences of RBOT and Cincinnati Milacron trials. The lubricator has besides unexpected biodegradability as measured by Sturm trial ( Duncan et al. , 1997 ) . Hunt et Al. ( 1993 ) carried out supercritical fluid extraction to analyze liquid poly ( alklene ethanediol ) ( PAG ) lubricators and sorbitan ester preparations. The PAG matrix was adsorbed onto silicon oxide and the selectivity obtained by this method was compared with that obtained by the direct extraction of adsorbed and unadsorbed PAG. Extraction was besides done for unadsorbed PAG through the in-line column and it was successful in dividing additives from all but the lowest molecular mass PAG oligomers. This extraction process enabled fractional process of the merchandise and could be used as a sample readying technique for farther spectroscopic analysis. It is hard to bring forth polymers with narrow molecular weight distributions by traditional methods. Supercritical fluid engineering is applied to get the better of the conventional methods. The solubilty parametric quantity of supercritical fluid can be tailored. Selective extraction and fractional process are possible from multi-component mixtures. The key to doing high quality polymers is to guarantee precise control of molecular weight and polydispersity at high output while maintaining residuary contaminations below acceptable tolerance degrees. Hernandez et. Al. ( 2005 ) tested the turn overing weariness of three polyglycols ( PAG-9, PAG-12 and BREOX-B-135X ) . Polyglycols ( besides called PAG or polyalkylene ethanediols ) are widely used in the lubrication industry. These compounds have really high viscousness indexes, really low pour points, a high thermic conduction with regard to mineral oils, hydrolytic stableness, etc. Rolling fatigue trials were carried out utilizing IP-300 criterion in order to obtain the word picture of the fluids. A four ball trial machine was used and 10 % life ( L10 ) and 50 % life ( L50 ) were obtained. The stress-time curves for L10 and L50 were besides determined. All polyglycols were tested under boundary lubrication government ( I » lt ; 1 ) where in turn overing contacts the surface manner of failures prevails. In oils of the same household, the pressure-viscosity coefficient is comparatively changeless. An addition in viscousness improved the minimal movie thickness with the attendant addition of the I » ratio. Fatigue life is mostly a map of the ratio of lubricating movie thickness to composite surface raggedness ( I » ratio ) . Differences in I » ratio for the three polyglycols resulted in different grimness interactions and turn overing contact weariness lives. With respect to turn overing contact weariness, the pick of viscousness category should avoid grimness interaction, so that the lone manner of failure will be subsurface failure. Although mean force per unit area in the contact was the same, increase in viscousness from PAG-9 to BREOX-B135X improved the I » ratio from 0.18 to 0.34. At less I » lt ; 1, operation is in the boundary lubrication government where turn overing contact fatigue life is short, but an addition of I » ratio cut down the grimness interactions an d hence rolled contact weariness improved. An probe was so carried put by Garcia and colleagues on PC-SAFT volumetric and stage behaviour of C dioxide + PAG or POE lubricant systems. The densenesss of man-made PAG oil was measured from 283.15 K to 333.15 K while the solubilities of CO2 in this oil was measured from 253 K to 333.15 K. Molecular weight of the lubricator was estimated utilizing fast atom barrage ( FAB ) . Molecular weight and experimental densenesss were used to cipher characteristic parametric quantities of PC-SAFT theoretical account for several commercial PAG oils. Movable characteristic parametric quantities were used for POEs. The thermophysical belongingss and phase behavior of CO2-lubricant oil mixtures is of import for the design of infrigidation and air-conditioning. The go arounding fluid comes into contact with the lubricator used in compressors and a part of the oil is transported into the infrigidation circuit with assorted effects in footings of public presentation. If the oil is non-miscible with the refrigerant, the compressor may be damaged due to hapless oil return to the compressor. Oil may roll up inside the heat money changer tubings cut downing heat transportation capablenesss, enthalpy alteration and ensuing in an overall decrease of the infrigidation capacity and rhythm public presentation. In add-on, high solubility of the refrigerant in the lubricator may cut down the viscousness of the oil-rich stage and consequences in lower lubrication belongingss which gives rise to dislocation of the compressor mechanical parts. Hauk A ; Weidner ( 2000 ) studied the thermodynamic and fluid-dynamic belongingss of C dioxide with different lubricators in chilling circuits for car application. The information of the binary mixture were measured at temperatures between 5 and 100 A °C under force per unit area of up to 150 saloon. The stage behaviour was observed qualitatively in a hugh-pressure position cell and was determined in an sterilizer based on a static-analytical method. The viscousness of the lubricator saturated with C dioxide was measured with an integrated vitreous silica viscometer. The pertinence of lubricators in car-climatization systems can be evaluated with the cognition of stage behaviour and the resulting viscousness of gas-saturated lubricantsThe stage behaviour of oils with C dioxide can be divided into three different types which are binary systems with closed miscibility spreads, systems with unfastened miscibility spreads, and systems that show barotropic phenomena. Oils that show barotropic behaviour in contact with tight C dioxide are non recommended as lubricators. Oils with complete or limited miscibility with C dioxide may be used. Firdovsi A ; Yagoub ( 2006 ) investigated the man-made heat bearer oil composings based on polyalklene ethanediols. Thermal stableness, mass loss on vaporization at 250 A °C, 350 A °C and altering the specifications after heating at 300 A °C for 10 Hs were besides studied. The prepared PAGs have been taken as basic constituents for heat bearer oil composings. It was discovered that the specifications of PAGs such as viscousness indices, pour points, acerb figure and brassy points changed dramatically upon heat handling. In order to better the thermic stableness and viscousness indices, anti-oxidant and anti-foaming additives were added to the base stuff to make optimal composings. The obtained heat bearer oils showed comparable improved belongingss in comparing with commercially available heat bearers. Methodology This undertaking will be divided into 2 phases as listed below. Poly ( glycerol-diacid ) polymer will be prepared by utilizing different hydrocarbon concatenation length of diacids ( such as azelaic, succinic and adipic acid ) . The merchandises will be analysed in order to analyze their chemical and physical belongingss. Phase 1: Chemical reactions of glycerin with different hydrocarbon concatenation length of diacid compounds ( e.g. azelaic, succinic or adipic acid ) at different mole ratios, are carried out under N2. The mixtures were charged to a reaction vas equipped with distillment setup. The reaction merchandise is allowed to respond at the coveted temperature and clip. Acid value ( AV ) , hydroxyl value ( OHV ) and glycerin content will be measured to keep the reaction advancement. Optimization of the reaction parametric quantities will be studied by changing different reaction parametric quantities such as type and sum of diacid, reaction clip, temperature and force per unit area. The concluding merchandise will be washed, dried and characterised. Phase 2: The merchandises obtained will be analysed by utilizing both High Performance Liquid Chromatography ( HPLC ) and Gas Chromatography-Mass Spectrometry ( GC-MS ) . Other instrumentality such as Fourier Transform Infrared Spectroscopy ( FT-IR ) , Nuclear Magnetic Resonance ( NMR ) and Gel Permeation Chromatography ( GPC ) will besides be utilised to further corroborate their molecular construction. Physical belongingss of the merchandises obtained such as viscousness, solubility, brassy point, fire point, denseness, specific gravitation, biodegradability, and oxidative stableness will be performed. Expected consequence: Polymers ensuing from the copolymerisation of glycerin with diacids of changing C concatenation length, molecular construction, and composing will be obtained. Structures holding more than two free acid functionalities at the end-terminals can happen merely after ramifying. As the clip of reaction returns, the viscousness increases which limits the interaction between the reactants and the turning polymers. The H2O solubilty of the oligomers decreases with increasing concatenation length of the diacid monomers of the diacid monomers used in fixing the oligomers. This glycerin based polymers are expected to possess broad scope of applications such as cosmetics and lubricators. How to cite Characterization Of A Glycerol Based Polymer Environmental Sciences Essay, Essay examples

Patriotism Essay Example For Students

Patriotism Essay Address before the Mens Club of the Prospect Street Congregational Church, Cambridge, Mass., June 7, 1898. There are moments in every mans life, in the life of every nation, when, under the excitement of passion, the simple truths which in common times are the foundation upon which the right order and conduct of life depend are apt to be forgotten and disregarded. I shall venture tonight to recall to you some of these commonplace truths, which in these days of war need more than ever to be kept in mind. There never was a land that better deserved the love of her people than America, for there never was a mother-country kinder to her children. Friends provide the safety and belonging even in times of war. People betray their country in their everyday actions, they deceive their employer, they lie to others, they cheat, and steal; but, one always thinks twice before betraying the trust of a friend. Shinji and Reiko remain loyal to what is important, their friends. Not only do Shinji and Reiko choose their friends over their country, they also find happiness in choosing each other rather than continuing in a world in which the two could not be together. This perfect union between the two illustrates something people search for everyday. Everyone is looking for his or her own Shinji or Reiko. This need to find a soul mate has spawned books, movies, songs, and plays. The boy meets girl scenario is a part of everyones life. In Patriotism, boy did meet girl, and this is a part of what makes this story universally appealing. People simply want someone with whom to share there lives. Finally, ones own personal freedom is more important that loyalty to ones family or country. This is probably the most egotistical of all choices a person makes. According to Abraham Maslows hierarchy of needs, satisfying the basic needs of ones self comes before even considering the needs of others. Shinji and Reiko are simply satisfying their need for personal freedom with their suicide. Anyone, given Shinji and Reikos situation, will act in the same way. Bibliography: .

Gold Fluctuation Essay Example

Gold Fluctuation Essay It provides insurance against extreme movements that often occur like war, economic crisis, changing monetary policies and so on. Individual or institutional investor tend to invest more in gold in order to diversify their portfolio by not only holding the US dollar as a reserve but also gold as well to hedge against the falling price of US dollar, to hedge against inflation, to provide higher liquidity at the time of urgency and to provide insurance and economic security against unexpected events like the recent economic crisis. There are certain factor that influences the price f gold from time and again. Some of these factors are US dollar currency, central bank policies, inflation, US economy, demand and supply of gold and other macro economic variables. Many Asian countries like India, Russia, Sri Lanka, and China are presently making a great initiative towards buying out more gold to protect their wealth and to hedge against the falling price of US dollar. Gold is regarded as o ne of the highly traded commodity in the commodity market. Recent economic crisis that has started from the US has led to some fluctuation on the gold price. This is because the weakening of the US dollar currency and strengthening of the gold price has led the international investor to focus more on investing on the gold rather than foreign currencies especially US dollar. So, there has been an increase in the commodity market for trading of gold and other commodity in international market. Likewise, the gold investor are also increasing in Nepal with some of the commodity market already started trading the gold and other commodities. Purpose/ Objective of the Study: The purpose of the study is to make in depth analysis of the factors that influence the gold future. Since, the change in the price of the gold has major influence on other commodities and currencies so it is very important to understand the gold and its relationship with various other factors like US dollar, inflation, demand and supply, central bank policies and other macro economic variables. This study is mainly conducted to know how the gold price fluctuates irrespective of the change in the dollar value, inflation, demand and supply and central bank policies around the world. Methodology: We will write a custom essay sample on Gold Fluctuation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Gold Fluctuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Gold Fluctuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We base our study on the secondary source of information available in the market, articles, journal, and webpage and research paper. This study also comprises some of the opinion from the experts in the gold futures, which are included in the part of our analysis.. Scope of the Study: Some of the major scopes of the study are listed below: †¢ This study is conducted to understand the common factors that influence the gold futures price in the world financial market. †¢ We don’t recommend basing any investment decision in the results of this study, and this study is only for the academic purpose. The study is done only for academic purpose, which is based on the secondary information from different journals, articles, research papers and web pages. So, this doesn’t include detail research on the actual market. However, some of there will be some of the practical example illustrated on the relevant topic wherever necessary. †¢ The study reflects the gold pr ice relationship with the factors that are common in overall world economy not only to those factors that are specific to the particular economy. Limitation of the Study: This project report is prepared under considerable limitations and some of those are listed below: †¢ Time constraint: Due to limited time, we have not been able to explore the other component of our study like numerical calculation and trend analysis of the factors that influences the gold future. †¢ Information source constraint: The limited information in this study does not serve as a basis for the investor for investing in the real market. We did not have enough access to more relevant and valuable articles. The investor need to have further detail analysis and research before investing in the gold future in real market. Scope constraint: We have limited the scope of our study by identifying and focusing in six factors that influences the gold price. There can be factors other those mentioned in this study that have effects on the gold price. From our preliminary web-based analysis we identified six factors that affect the gold price. Structure of the paper: The study of this paper begins with first identifying the major common factors that influence the gold price in international level. These factors are then further analyzed and elaborated with some theoretical concept, practical insight and evidences. The factors identified are as common to the world economy, however there might be other factors than those identified, which might influence the gold price and might differ from country to country. Finally, we have drawn some conclusion based on our analysis and a brief highlight on the gold future market in Nepal. Chapter II CONCEPTUAL FRAMEWORK There has been a tremendous increase in the trading of gold in the international commodity market. People are more attracted towards investing more on the gold market primarily because of the following reasons: Gold as a hedge against inflation Gold is considered as the hedge against inflation. Inflation is basically caused by the increase in the supply of currency. The value of the currency is decreased when there is monetary inflation. And we know that the price of gold increase when there is monetary inflation. So one can keep gold as reserve to safe from the inflation risk. The most consistent factor determining the price of gold is inflation-the price goes up with the rise in inflation rate. It has negative correlation with other investment portfolios like stocks bonds, bills. etc. E. g. at the end of world war II, when there was highest inflation rate, the rate of return on stocks was ighly in negative but the price of the gold was far positive. Oil, Inflation and Gold Though the price of the oil and the gold are far different, it is no doubt that the price of oil reflects to the price of gold. If oil prices rise or fall sharply, investors can expect a corresponding reaction in gold prices as well. When the oil price climbed from 325%, $2. 44 to $10. 36 in between 197 2 and 1974, gold price had rose 268% from $47. 45 to $174. 76. Gold as a hedge against declining the dollar In the international market, the price of gold is determined in the value of dollar. With the decline of the value of the dollar, the price of gold rises. The U. S. dollar is the worlds reserve currency, it is the primary medium for international transactions and the currency held as reserves by the worlds central banks. Now it has been backed by the gold, the dollar has been only the medium. Gold as a safe haven There are myriad of tensions in the world economy, anyone can erupt with little or no warning. Gold has been considered as the crisis commodity because it safeguards the other investments. Every factor that causes other investments to suffer may let the price of gold to rise. When there is any crisis specially or there is banking crisis, public begins to distrust paper assets and turns to gold for a safe haven. When all else fails, governments rescue themselves with the printing press, making their currency worth less and gold worth more. Gold has always raised the most when confidence in government is at its lowest. Gold as a store of value Warren Buffet has said about Gold: It gets dug out of the ground in Africa or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. One major reason investors look to gold as an asset class is because it will always maintain an intrinsic value. E. g. if one could purchase a set of the cloth with the value of 1 ounce of then fashion, he can also purchase the set of cloth but of modern design and fashion with the same 1 ounce of gold at this time. It means that Gold act as the storage of the wealth. Gold as a portfolio Diversifier Gold is negatively correlated with the dollar value and hence negatively correlated with all other financial market, such as stocks and bonds. So it is the most effective way of diversifying the portfolio by investing into the gold. It is the safest way of investment; it protects the wealth from total loss because there will be the intrinsic value in any time in future. But there is a chance of complete eruption of total money due to crisis in other investments. Gold is an safe part of a diversified portfolio because its price increases in response to events that erode the value of traditional paper investments like stocks and bonds. Chapter III FACTORS INFLUENCING GOLD FUTURES Present days we see that there has been a great fluctuation in the price of gold, with increase in its price. This has alerted all the gold investor either individual investor or institutional investor or country to think once again. So, as a rational investor we need to understand the basic idea behind the gold price upward and downward movement. To understand this movement in the gold price we need to understand all those common factors that influence the gold futures. So, some of these factors that influence the gold futures like US dollar currency, central bank policies, inflation, demand and supply and macro economic variables are illustrated below with some practical insight linked with the theoretical concept as well. Factors that Influence the Gold Future: 1. US dollar and gold price 2. Central bank reserve policy and gold price 3. Demand and supply of gold and its effects in the price 4. Inflation and gold price 5. Investment demand and gold price 6. Geopolitical scenario, macroeconomic changes, and gold price 1. US dollar and gold price: When we talk about gold and US dollar, it is important to reassess how gold really relates to the dollar. The fact is that gold almost never changes in value. It is the dollar that revalues in relationship to gold. For example, in 1920 a good quality mens suit could be purchased with a typical $20 gold piece. A similar quality suit today can be purchased with about the same amount of gold. There exists a reciprocal relationship between the gold price and dollar. The reason that gold and the dollar generally trend in opposite directions is that in one respect gold is just another currency. As a result, when the dollar weakens on the foreign exchange market over an extended period then the US dollar gold price will generally rise during the same period; and when the dollar strengthens over many months then US dollar gold price will usually fall. This is the real scenario which we have been observing currently in the world financial market, where the dollar is weakening and the price of gold is sky rocketing. It doesn’t mean that the percentage change in dollar has equal percentage change in gold price, but when we look over the charts of the dollar and gold and compare, it quickly becomes apparent that the two have been inversely correlated since the floating currency system came into being in the early 1970s. But to our surprise, if we see the data of gold and dollar from May through December 1993, the traditional relationships prove to have broken down. Gold has long been regarded by investors as a good protection against depreciation in a currencys value, both internally (i. e. against inflation) and externally (against other currencies). In the latter case, gold is widely considered to be a particularly effective hedge against fluctuations in the US dollar, the worlds main trading currency. The reason for the inverse relationship between gold and the US dollar is because both are seen as a global, worldwide currency. Pre 1971 the two colluded as a world gold standard whereby the US dollar and gold were pegged together. At that time one Troy ounce of gold could be swapped for US$35. Before 1971 any central bank in the world could ask America to settle its debts in gold. But post 1971 they could only ask for US dollars. When the central bank demands more gold or began to hoard more gold as a reserve than the price of the US dollar falls and vice versa. These days the value of dollar is declining due to the central banks around the world are making an initiative to hold more gold as a reserve against the dollar, which has resulted an influence in the US dollar currency. The figure below indicates the gold price and US dollar movement from 1970s to 2000s, which shows that there is inverse relationship between the trends. When US dollar is declining then ther is rise in gold price and vice versa. Although the percentage change is not same, but there still exists an inverse relationship between gold price and US dollar. [pic] Fig: Relationship between US dollar and Gold price 2. Central bank reserve policy and gold price: Since central banks typically buy US dollars to store their foreign exchange reserves but recent days there has been shift in the decision of the central bank around the world to hold more reserve of gold against the world’s sole eserve US dollar to hedge against the fall in US dollar value. So central banks around the world are investing more in gold to hedge against the falling price of US dollars from the foreign currency reserve they hold. This decision of the central banks around the world had led to increase in the price of the gold. Some of the recent example of such decision undertaken by the central bank around world can be Reserve Bank of India, Russian Central bank a nd many other central banks of Asian countries including China. The decision to further increase the gold reserve by the central bank of Asian countries including China as a hedge against the bullish trend of gold has led to further increase in the price of gold. Asian central banks hold 2. 6 trillion US dollars in foreign exchange reserves. So, most of these reserves are expected to be invested on the buying gold as an alternative reserve to US dollar, which will definitely led the price of gold to rise with the fall in US dollar. Recent steps undertaken by some of the central bank that influenced the price of gold are: Federal Reserve: The present initiative undertaken by the Federal Reserve to keep the interest rate low and increase the money supply whenever it feels necessary to improve liquidity has resulted the pressure on the dollar price and benefited the gold price against the dollar. So, such decision and actions undertaken by the Federal Reserve influence dollar value with the resulting impact on the gold price. †¢ Indian central bank: After India’s central bank—the Reserve Bank of India (RBI)—bought 200 tons of gold from the International Monetary Fund (IMF) last month has made some positive fluctuation on the price of gold. At the same time more central banks are taking various initiatives to step up their gold reserves. †¢ Russian central bank: Central bank of Russia decision to buy out 30 tons of gold from its own gold mining has also led to influence the price of the gold. †¢ China’s central bank: Central bank of china had built up its gold reserves by 454 tons since 2003 to 1,054 tones, making it the world’s sixth largest holder of the precious metal. Russian central bank has also given an initiative on buying more gold in the near future as diversifying reserves because of the fall in the dollar price. This also shows that Russia’s gold reserve probably rose by $790 million to $23. 1 billion, which has a great influence on the gold price. †¢ Sri Lankan’s central bank: Central bank of Sri Lanka has bought 10 tons of gold worth $375 million as part of a restructuring of IMF financial resources †¢ Mauritius Central Bank: Mauritius bought 2 tons on for $71. 7 million from IMF also has led to increase on the price of gold. The IMF executive board approved the sale of 403. 3 tons of gold in September. IMF currently holds roughly 3,000 tons of gold, is the worlds third-largest official holder of the precious metal after the US and Germany. This decision of IMF to sale the gold to different central banks has led to influence the gold price. Why do central banks hold more gold? Its influence on the gold price As we have seen from the recent examples that most of the central bank are moving their decision towards holding more gold reserve as an alternative to world’s sole reserve currency US dollar. The reason for central bank for holding more gold can be one of the following reasons: †¢ Diversification: As we have popular saying that don’t put all your eggs in one basket. So, recent days the central bank wants to minimize their risk by diversifying their reserve into gold holding. As the dollar and gold price represents the world’s reserve. So, holding the reserve in gold will minimize the risk of falling price of US dollar i. e. in simple sense to hedge against the falling price of gold. Thus, central bank makes take an initiative to hold gold as a diversification to minimize risks. †¢ Economic Security: Gold is a unique asset in that it is no one elses liability. Its status cannot therefore be undermined by inflation in a reserve currency country. Nor is there any risk of the liability being repudiated. Gold has maintained its value in terms of real purchasing power in the long run and is thus particularly suited to form part of central banks reserves. In contrast, paper currencies always lose value in the long run and often in the short term as well. Because of this the central bank holds gold. †¢ Hedge/ Insurance against uncertain events: This can be best illustrated with the present economic crisis that led to affect the international monetary system. Owning gold is thus an option against an unknown future. It provides a form of insurance against some improbable but, if it occurs, highly damaging event. Such events might include war, an unexpected surge in inflation, a generalized crisis leading to repudiation of foreign debts by major sovereign borrowers, a regression to a world of currency. In emergencies countries may need liquid resources. So, gold is liquid and is universally acceptable as a means of payment and can also serve as collateral for borrowing. Because of this the central bank holds gold. Some of the largest gold reserves holding countries of the world as of December, 2009 are listed in the table below: Rank |Country/ Organization |Gold (tonnes) | |1 |US |8,133. 5 | |2 |Germany |3,407. 6 | |3 |IMF |3,005. 3 | |4 |Italy |2,451. 8 | |5 |France |2,435. 4 | |6 |China |1,054. 0 | |7 |Switzerland |1,040. | |8 |Japan |765. 2 | |9 |Netherland |612. 5 | |10 |Russia |607. 7 | So, when then central banks of these major gold reserve holding countries make a decision to buy or sell t he gold reserve, then there arises a change and fluctuation on the price of the gold and the US dollar. 3. Demand and supply of gold and its effects in the price The price of gold has also been influenced by the demand and supply of gold in the international market. This demand and supply of gold and its influence on the gold price are discussed below: Demand of Gold The demand of the gold is extensively high in today’s market. It may be due to the less supply and its vast uses in many sectors. The demand of the gold is diverted mostly in the industries, jewelry fabrication and to some extent to the lines of credit. The extensive functionality and the physical/chemical properties of the gold are the main reason behind its increase in demand. Some of the major sectors where there is large demand of gold are: a. Jewelry demand The demand of gold in jewelry accounts about 2/3 of its demand in world. Jewelry has been the world’s largest category of the consumer goods. The demand in jewelry is driven by a combination of the affordability and desirability of consumers. It rises during the period of price stability and declines when there is price volatility. The jewelry consumption has been increasing, though there is a steadily trend of rising price. The demand of gold for jewelry is high especially in Asian countries like India, Pakistan, Sri Lanka, Nepal and others. b. Investment Demand There is no doubt that the investment in gold has been increased considerably in recent years. The trading of gold in international commodity market has been increasing drastically in recent days. It is not easily measurable of the gold demand in over the counter market. However, the increase in investment has represented the strongest growth in demand. There are wide ranges of reasons why the people seek to invest in gold. The major reasons are the positive price outlook and expectations that the demand will continue to outstrip its supply. The investment in gold can take many forms, some investor trade it in contract without physical delivery. c. Industrial demand Gold’s extensive property like resistance to corrosion, high thermal and electrical conductivity, high malleability and ductility explained why its demand has been increasing in the electronic components and human surgery. Gold is used in the medical applications due to its compatibility, resistance to bacterial colonization and corrosion. Several researches have uncovered a number of new practical uses of gold such as catalyst in fuel cells, in chemical processing and controlling pollution. The uses of gold in electronics, metal plating and coatings, cancer and heart treatment are the exciting areas of its uses. . Other forms of gold demand The central bank keeps the reserve either in dollar or gold. There is a great chance of lowering the value of dollar rate thus creating the great risk. So in order to minimize that risk the central bank has started to deposit the gold as their reserve. Similarly, the Chinese government has started to put their trade surplus in the form of gold. The chinese government has also allowed their citizens to own and keep gold with them. These scenarios has also created the scenario to increase the demand of gold. Gold is taken as the â€Å"crisis hedge†. There is a great threat from the country’s turmoil and the inflation risk, which is out of the control of anyone. So people are scared about the assets in the paper form. They started to keep gold as the reliable asset. This trend has also created the demand of gold in consumer level. Supply of the Gold a. Mine production The main source of the gold production is mining. Gold is produced almost in all continents. The global mine production is relatively stable because mining in new places just serve as the replacement of the current production. There is no significant growth in the total production. The average global production is approximately 2485 tonnes per year over the last five years. The lead time of the gold mining is relatively longer (i. e. longer than 10 years), so production is inelastic and the changes in price don’t have the quick response. b. Recycled gold There is the supply of the gold through the recycled gold compensating to the less production. This has helped to stabilize the supply and price. In between 2004 and 2008, the recycled gold has contributed an average 28% to annual supply. The gold has great recycling property; it can be molded and remolded by melting down and reuse without losing much of its physical and chemical properties. c. Central banks The supranational organizations such as International Monetary Fund (IMF) and central banks hold the stocks of gold as reserve assets. The government also holds around 10% of its official reserves as gold but the proportion varies in different countries. This source has been a net seller since 1989 contributing an average of 447 tonnes to annual supply. However the sales rom these sources are decreasing in recent years. In 2008, it was just around 246 tonnes. d. Gold Production Gold is extracted from its ore. The extracted ore is treated, processed and refined. The largest ore is the Rand refinery in Germiston, South Africa in terms of largest capacity. The largest ore in terms of output is the Johnson Mathew, USA. The gold refined is sold to the bullion dealers who trade it to the jewelry or industry or the inves tors. The bullion dealers facilitate the free flow of gold and underpin the free market mechanism. Supply/ demand in western gold market Annual   western   world   gold   supply   (a) + (c) |Annual   western   world   gold   demand   (a) + (c) |Annual   western   world   gold   | | | |deficits | Y e a r |Annual mine production (b) (metric tons) |Annual production growth rate   (%) |Annual consumer demand (b) (metric tons) |Annual consumer demand growth rate   (%) |Demand (metric tons) |Supply (metric tons) |Prod. Deficit (a) (metric tons) | |1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 |1382 1446 1698 1686 1814 1948 2145 2020 947 2089 2069 1992 |13. 8 4. 6 17. 4 (0. 7) 7. 6 7. 4 10. 1 (5. 8) (3. 6) 7. 3 (1. 0) (3. 7) |1529 1571 1786 1688 1942 2340 2478 2590 2891 2763 2700 3007 |1. 9 2. 7 13. 7 (5. 5) 15. 0 20. 5 5. 9 4. 5 11. 6 (4. 4) (2. 3) 11. 4 |1529 1571 1786 1688 1942 2340 2478 2590 2891 2763 2700 3007 |1382 1446 1698 1696 1814 1948 2145 2020 1947 2089 2069 1992 |-147 -125 -88 -2 -128- -392 -333 -570 -944 -674 -631 -1015 | | The demand of the gold is growing while the supply through mine production is flat -more or less constant production. The 10 year supply/demand data show that the gold demand exceeded to the supply in all years. In 1995 the demand exceeds the supply by 1. 5 times and the deficit is 1015 tonnes. The deficient of the gold can be observed in the US and India where the shops are completely bare of gold, Indian Banks was empty of gold and silver. US Mint has suspended coin production. 4. Inflation and the gold price: As we have already discussed that there exists the inverse relationship between the gold price and US dollar currency. So, when the inflation of the US economy goes up then the dollar becomes weaker as a general economic sense, which will ultimately led to increase in the price of the gold. This is because the central bank around the word will buy out more gold as a reserve in order to hedge against the falling value of US dollar. Thus, the inflation in the US economy has a chain reaction which will ultimately led to increase in the gold price with weakening US dollar. Some of the empirical data from the past shows how gold price responded to the inflation in the US economy. From the peak in1980 the inflation rate declined but cumulative inflation climbed steadily upward. But rather than keeping up with inflation the price of Gold fell from the peak of $850 per ounce down o under $300 in 2001. But in inflation adjusted dollars the scene is even worse. The 1980 peak in 2007 inflation adjusted dollars was over $2100 and it fell to under $346 losing a whopping 84% of its value. So even though inflation rose gold fell because the fear level was low (and possibly because governments worldwide manipulated the price). While gold prices do tell us some-thing about the inflation rate, it need not be either that inflation raises gold prices or that higher gold prices cause inflation. Some third factor, such as the money supply, may influence both. The monetary policy of central bank s to adjust their inflation rate in the economy has certain influence on the gold price. As for instance in the US economy, a monetary policy designed to bring down inflation, as in the early 1980s, might have a different impact than one promoting a stable, low-inflation environment, like that of the 1990s. Thus, we can observe that the price of gold movement and Inflation has positive relationship. It means that when the inflation increases then the price of the gold also moves upward. 5. Investment demand and gold price: Investment demand of gold is a relatively new concept which is gaining popularity among investors in later years. We have seen that traditionally demand of gold basically came from- central bank holdings and jewelry demand. But due to growing geopolitical tension, power shift, and many other reasons, investors are investing in gold as a hedge against macro economic downturn, more specifically against the inflation. People take gold as a safe heaven investment and belief in its long term store value. This changing perception of people is supported by the availability of various types of instruments through which they can invest in gold. The kinds of investment alternatives for gold are: a. Gold futures b. Shares of gold exchange traded funds c. Shares of gold mining companies As the purpose of this study is to discuss about the factors affecting the gold prices, we will not be discussing all these alternatives further. To put things in perspective, it is necessary to state that the total amount of gold derivative traded every day around the world is more than 1000 tonnes of gold. Whereas, the total value of physical gold traded every year is around 10000 tonnes. This implies that the physical gold market is less than 2% of gold derivative market (Understanding Gold; Paul Van Eden; theMiningweb. com; 2000). Gold futures contract and the gold exchange traded funds are the most popular forms of gold derivatives. In 2009 alone the investment demand for gold went up by massive 25% (Ajay Mitra; World Gold Council; Dec 2009). This sort of additional demand is putting more pressure on the price of the gold and is one of the major reasons behind the recent rise in the price of gold in 2009. Recent rise in gold price can be attributed Reasons behind rise in investment demand of gold: The reasons are very simple. First the returns on gold have left far behind the returns on other investment alternative, such as stocks and bonds. In 2009, average returns on gold investment stood between 25-35%. A close analysis of average returns from gold and SP since 1999 will show that, had anyone invested $10,000 in gold in 1999 that would have grown to $33,754 (i. e. a profit of 238%). And had that investment was made in SP then it would have incurred a loss of $3,987 (i. e. a loss of 40%). These data show that gold investments are beating stock market in terms of returns and this is switching investors from stock market to the gold investment market. Following bar diagram summarizes the average returns on gold and SP 500 from 1999 to 2008. Comparison of returns of gold and SP 500 between 1999 2008 [pic] It is clear from the above table that gold (G) have beaten SP 500 (S) in seven out of ten years. In 1999 the returns were equal and SP 500 produced higher returns only in 2000 and 2001. MEX (Mercantile Exchange Nepal) gold futures, a real life example of investment demand: Since MEX started its operation about a year ago, a significant number of Nepalese investors have traded on gold futures contracts: bought and sold. As of today MEX does not allow settlement of contract by physical exchange of gold so all the trading is settled through taking the opposite position. Here we see, nobody has purchased or sold actual gold but they have through their long positions they have added to the total demand of gold. Similar activities are observed in most of the emerging nations- India, China, Indonesia, Malaysia, and others. The impact of such activities is that they have all prov

How Far Is the Monarchy an Outdated Institution Essays

How Far Is the Monarchy an Outdated Institution Essays How Far Is the Monarchy an Outdated Institution Essay How Far Is the Monarchy an Outdated Institution Essay Essay Topic: History The question of as to how important the monarchy stands today in todays society is one of considerable importance of more recent times. Although recent polls suggest that around 70% of Britons want to keep the monarchy we can see a huge drop in the amount of 18- to 24-year-olds who say they do not want a monarch. This essay will try to consider both pro monarchy and pro republican arguments in analysing as to just how outdated the monarchy is as an intuition. To have a greatest understanding of the question we must first understand the what the monarchy is and the alternatives to it. A republic, unlike a monarchy is a polity in which governmental power devolves by popular election, and not by heredity. In Monarchy to Republic by Winterton (1986 p2) defines Its older meaning as simply a state or polity, or a state including a monarchical one with a mixed government or balanced constitution. But after 1649 republic was often used to describe a state without a king, or a state in which power was derived from the people, it was often treated in association with democracy or commonwealth. There are four main modern theorys as to how useful the monarchy is today these are: A celebration of shared values (Shils and Young) whereby the monarchy is thought to be a key actor in creating a nation state. The monarchy seemingly has the power to bring people together for the common good of the nation. The pinnacle of the ruling class (Karl Marx) Marx suggests that the monarchy is the is the largest symbol of the bourgeoisie and is just another institution trying to control the proletariat. An outdated irrelevance (Birnbaum) this theory is that the monarchy is insignificant in todays society and even though they may well have absolute power in it would never be used to any importance. The mainstay of an archaic state system (Nairn), this suggests that the monarchy is just the foundation of whats wrong with are state system at the moment due to conservative minds unwilling to change things. The first theory has very little evidence to support itself, in fact according to the recent Guardian/ICM poll and the Independent on Sunday MORI poll. Under half those surveyed in a recent poll considered the royal family to be important to Britain. One in three believed the royals were out of touch. Less than one in four thought they were hard working. Just one in 10 thought the royal family were good value for money. I believe this do be undeniable evidence that the monarchy does not bring people together with shared values for how can we identify with someone that has nothing in common we the people they govern. It all sounds like hypocrisy to me why are the royals held up as an example for people to follow. They must be one of the worlds most famous dysfunctional families. They are ashamed of divorcees, alcoholics and possible homosexuals in their midst. Their values are completely corrupt. Marxs theory on class war is very popular with leftist theorists. He suggests that were ever there is capitalism and the need to make money they will be institutions attempting to control others for there own personal gain. A relevant quote would be that of Keir Hardie on the 1897 Jubilee: The cheering millions would be there and cheer just as lustily if the occasion were the installation of the first President of the British Republic; the soldiers are there because they are paid for coming;the statesmen are there because Empire means trade and trade means profit.In this country loyalty to the Queen is used by the profit mongers to blind the eyes of the people; in America loyalty to the flag serves the same purpose.. Birnbaums theory is one of complacency in my eyes. I agree he is right that the monarchy is irrelevant in todays society but they still cost the taxpayer money. The taxpayer spends over à ¯Ã‚ ¿Ã‚ ½60 million per year on services related to the monarchy. This money could be spent on hospitals or schools and until recently, the Queen paid no tax whatsoever on her property or income. Everyone should have the same rights. People who didnt pay the poll tax are still being hunted down and locked up. Nairns theory on outdated state system is most relavant to todays monarchy. The theory explains as to has outdated and undemocratic the monarchical system is. The Queen can veto an Act of Parliament, intervene in policy decisions, and even dissolve the government if she wishes. And this isnt just in theory Queen Elisabeth II has even done it in practice. In 1975, she got the Governor-General to dissolve the Labor government in Australia because she found it too left-wing. The monarch can take over the government in circumstances that threaten the state such as a general strike or mass civil unrest and they could even sell the navy and get people put in prison without a jury trial. This is obviously an undemocratic and outdated system. In conclusion the execution of Charles 1st is an inspiration for all fighting to reform the undemocratic British state. After the bloodshed on 30 January 1649, until shortly after Oliver Cromwells death Britain enjoyed a successful 12 year republic, without any Monarchy or House of Lords, a true republic can be achieved. The Monarchy which, with the House of Lords, is supposed to embody our unwritten constitution stands in the way of us having proper rights separate from the state. The creation of a written constitution would help protect those rights that have been increasingly infringed in the recent. With no bill of human rights people of Britain have no statutory line of defence against these oppressive and unrepresentative measures. What is more, it is only through the creation of a social contract can we rebuild a caring civil society, which in my eyes has been lost over the recent decades. Without a shadow of doubt the monarchy is an outdated instition.

The Tenth Amendment acts as a limit on Congressional powers Essay

The Tenth Amendment acts as a limit on Congressional powers - Essay Example This research will begin with the statement that Thomas Jefferson called the Tenth Amendment â€Å"the foundation of the Constitution†. Historically, the amendment was designed to limit the powers of the federal government, a concern highlighted by the tyrannical rule of King George III of England. While the wording of the amendment is simple and seemingly precise, its historical significance--and modern interpretation and use--continues to be a source of debate regarding its true meaning and intent. This paper will attempt to clarify questions regarding its interpretation, the current actions of the states to push back federal intrusion and, finally, the role of the United States Supreme Court in deciding these important matters. Ratified in 1791, The Tenth Amendment works to limit Congressional powers and guarantee that the states have primary control over matters that directly affect their citizens; over time, however, this clarification has eroded. The amendment expressly states that â€Å"powers not delegated† to the new federal government must be left to the states to decide. While the original intent is clear, however, its interpretation has been widened beyond the expressed attempt to limit federal intrusion. The debate continues in 2010 regarding the boundaries of the amendment’s authority. More recently, we can find U.S. Supreme Court cases addressing the powers of the Tenth Amendment. In 1995, the Court ruled that Congress overstepped its power by passing the 1990 Gun-Free School Zones Act.

Compare and contrast Confucianism, Daoism, and Shinto Essay

Compare and contrast Confucianism, Daoism, and Shinto - Essay Example etween them, namely a specific understanding of human nature and the characteristics of its relationship with the divine law either through the human mind (Confucianism) or by means of mystical knowledge (Daoism and Shinto). Confucians believed that the true essence of people is humanity or â€Å"jen† (Fisher 209). Self-cultivation was understood as the development of a â€Å"humane† beginning and the suppression of wild and evil factors. By the time of the emergence of Daoism, Confucianism was the official doctrine and the basis of the state structure. The ideal of Confucianism was presented by a notion of a â€Å"noble man,† the carrier of Confucian consciousness responsible for the harmony between Heaven and human nature. His virtues were seen in self-control, justice, reverence for elders, and social responsibility. His goal was public service since in Confucian ethics person is subject to the society (210). Confucian culture is elitist, since the main area of its distribution was presented by noble people (mainly officials engaged in the administration of the state). As a result, this led to a desire to govern all possible spheres of human life. These changes were achieved by l imiting the undesirable factors, mainly through the assimilation of norms of behavior and control (first external and then internal). The main virtue of a noble man was considered a permanent control over his/her own mental sphere and preservation of self-control. In this regards, introspection was designed to detect human failings. In turn, Daoism, also condemning human passions, understands the true human nature in its close connection with the cosmic principle that embodies universal laws of nature. The supreme goal of Daoism is the detection and the actualization of the â€Å"true principles† in man and complete submission to them. Man needs should seek to merge with the divine Dao, â€Å"a mystical reality that cannot be grasped by the mind† (195). There was initially no question of

Financial Management Individual Work 1 Week 6 Essay

Financial Management Individual Work 1 Week 6 - Essay Example In this case, operating leverage reflects the intensification of the upper part of the revenue statement with the fixed costs being the costs of business procedure and that are not affected by alterations in sales. Within financial and income aspects of any business, working income is a component of business risk. For instance, with two indistinguishable firms and one firm utilizes higher operating advantage with all other things remaining constant, the firm experiences less predictable return on asset and operating income, and this results to elevated risks to the business. With an elevated business threat, the stock- and bondholder are affected (Brigham & Ehrhardt, 2010). Financial leverage involves the degree of utilization of fixed charge securities within the capital structure of a given firm. High financial leverage occurs when the capital structure of a firm is characterized by elevated debts and preferred stock. In this case, the extent of entity sales characterized by equal costs and revenue presents the breakeven point and breakeven analysis can be done with or without financial costs (Brigham & Ehrhardt, 2010). This way, the financial leverage represents the underside half of the revenue statement entails changes in EPS relative to alterations of EBIT. Financial leverage accounts for some aspect of corporation risk through debt financing. Through debt financing, a business is prone to variations in earnings prior to taxation after interests thus elevating earnings per share and the net income. Corporate risk is thus a summation of business risk and financial risk. Modigliani and Miller revealed that whether leveraged or not, firms should have equal value in the absence of taxes and other costs. Further, organizational value and weighted standard capital costs will be free of the capital structure (Brigham & Ehrhardt, 2010). Consequently, constant

Augmented Reality Applications. Challenges and Future Trends

Augmented Reality Applications. Challenges and Future Trends Augmented Reality (AR) Abstract Augmented reality presents a mix of real world information and additional computer generated information to a user. Such a mix of information is usually presented by superimposing two distinct sets of images on to a monitor or a head mounted display which enables a viewer to observe a mix of the real world and computer generated text or images. Even though the visual sense is not the only sense which can be used to present and perceive computer altered reality, visual presentations are the most used in augmented reality systems. The additional presentations that are generated by a computer can substantially assist users in a number of ways including provision of textual information about what is being viewed, presentation of hidden information or images associated with a visual scene as well as the results of planned alterations to reality such as the presentation of the results of a construction or a demolition of physical structures. Augmented reality may be considered as being a b ranch of virtual reality research, but unlike virtual reality, in which everything that is presented to a user is generated by a computer, augmented reality only presents an alteration to the reality that is being sensed. There are very many interesting applications of augmented reality which are proving to be useful to human users. From assisting surgeons to perform delicate surgery, helping archaeologists collect excavation data to assisting rescuers after a natural disaster or aiding soldiers in urban combat, augmented reality systems are achieving even greater success as technological advances on a broad front enable even more sophisticated systems to be designed. Miniaturisation and the design of rugged, low power consumption components have resulted in portability. This essay presents a discussion of the potential and the problems of augmented reality systems. Contents (Jump to) 1. Introduction 2. A Description of the Operation of an Augmented Reality System 3. The User Benefits of an Augmented Reality System 4. Portable Augmented Reality Systems in Wearable Computers 5. The Outdoor Use of an Augmented Reality System 6. The Potential Sources of Error in an Augmented Reality System 7. Conclusion References / Bibliography List of Figures The Generation of Visual Augmented Reality using Head Mounted Displays, Cameras and Diverters for the Mixing of Real and Virtual Spaces Managing Multiple Spaces for Generation of Augmented Reality Sources of Error in Augmented Reality Systems 1. Introduction Augmented reality refers to the utilisation of computers to modify reality, usually in order to provide additional assistance when a human user is interacting with the real environment. The real world around humans provides a wealth of information which the human user must absorb and process through their senses. The most useful and informative of all human senses is the sense of vision and a huge amount of information about the ambiance is required to be sensed as well as processed by the human visual system. Computers are useful because they can provide an overlay of information to assist with the human processing of the information which they perceive through their senses, mostly the visual sense. [1] As an example, a human who is walking around an urban area can be provided additional information through a head mounted display which superimposes textual information about identification of buildings and other important landmarks so that the human is provided additional guidance ab out identification of buildings and landmarks or other useful information about what they are viewing. [2] Obviously, the computer too has to sense the environment in order to provide any additional information and this is done through a camera that captures the same view as the human. The camera provides images which are identified by a computer and virtual scenes are created in the virtual world generated by a computer. The computer program then generates additional assistive information that is presented to the human user in order to assist them in their interactions with their environment. Augmented reality software program is required to process information which a computer senses through sensors and the real space is transformed into a virtual space within the computer, with computer software identifying, recognising and transforming the external inputs from the real world in order to transform these inputs into assistive outputs for the user of an augmented reality system. Au gmented reality can, therefore, be considered to be a variation of virtual reality which completely immerses a user inside a synthetic environment. Augmented reality makes it possible for a human user to view the world with virtual objects that are generated by a computer and then superimposed or merged with it. The characteristics of virtual reality systems include a combination of the real and the virtual, interactions in real time and registration in 3 – D. [3] Augmented reality has proven itself to be useful in a wide variety of applications. From assisting surgeons to perform delicate surgery to assisting soldiers in battlefield or helping with education as well as assisting archaeologists gather field data on a site, virtual reality has proven to be of great benefit to humans in a very wide range of applications. [4] However, virtual reality technology is still evolving and with advances in computer science, even greater sophistication is likely to be possible in a large number of applications. Advances in wearable computing, software, miniaturisation, display technologies as well as sensors and radio networking have had a profound impact on the application of augmented reality. [5] Augmented reality systems are now far less bulky, portable and can be worn by a human user who may want to be assisted in a variety of ways in order to perform a task. Systems making use of augmented reality are now often used outdoors in harsh weather condit ions. Despite the possibilities, virtual reality implementations do have some limitations as well as difficulties with implementation. Registration errors or problems associated with sensing or bandwidth of the display devices can cause deterioration in the performance of augmented reality systems. Objects in the real and the virtual world have to be aligned correctly in relation to each other otherwise the illusion which is created as a result of the two worlds coming together will not be comfortable for humans. Sensing devices which provide data inputs for the augmented reality computer have to be able to track the field of vision of a user. Sensing errors, mechanical alignments, incorrect viewing parameters such as field of view or tracker –to- eye position or orientation as well as optical distortion in the display system are some of the problems which can affect the performance of an augmented reality system. [6] In this essay, an attempt has been made to discuss various aspects of augmented reality systems, including perspectives associated with their construction, portability, user benefits for those using augmented reality, outdoor use of augmented reality systems and the problem of errors in such systems. It is hoped that the readers will benefit from such a discussion and gain a broader understanding of the current state of augmented reality. The next few sections of this essay discuss the previously mentioned issues. 2. A Description of the Operation of an Augmented Reality System Augmented reality systems usually add to the information that is received from the real world. In augmented reality vision systems, objects from the virtual world generated by a computer can be added to the scene from the real world. However, augmented reality systems can also remove sensations from the real world and as an example; it is possible to remove a table which a human using the augmented reality system may be viewing as a result of the computer painting it over. Although augmented reality usually refers to a computer modifying the real information that is presented to the human vision system, vision is not the only sense which a computer can interfere with. A system in which multi – sensory input is provided may turn on a heat lamp when a user approaches a spot in the virtual environment that is exposed to the sun or the smell of roses may be directed to a user when they approach a rose garden in mixed environment. A computer can also direct that a fan be switched o n in order to provide a flow of air to a user when they approach a spot in the virtual environment that is exposed to wind. [7] Thus, augmented reality involves modification of reality that is presented to a user by a computer which also senses reality and which has created a virtual model based on what has been sensed. Examples of the application of augmented reality include superimposition of internal information over external surfaces or the augmentation of viewed environment with informational labels. [8] When thinking about augmented reality, it is appropriate to think about the physical space, the virtual space and the measured space. The concept of physical and virtual space should be clear, however the concept of measured space refers to the representation of the physical space inside a computer and the manner in which sensory data is used to present the real space to a user. The generation of augmented and virtual spaces require the joining together or overlapping of the space maps associated with the physical and the virtual spaces, with the interaction being managed by computers and people using their sensory capabilities. Virtual space does not necessarily represent the physical space and this space is a model of the physical space that is created the real world and its views as perceived by sensors. Virtual space contains inputs from the physical space which are incorporated into the electronic space by the computer. The generation of augmented reality involves superimposing electronic generated space on to the real objects and space. The virtual space inside a computer must correspond to the real space which has to be mapped into the computer using some sort of a global reference such as a global positioning system. [9] Relative measurements of objects in physical space are transferred to the computer so that the electronic space may be generated, even though it may not be known where the physical space is with regard to the rest of the universe. Thus, a car’s interior dimensions are relative to each other, although it may not be known where the car is in the universe. A close mapping may exist between the physical and the virtual space if the electronic space is required to be a close representation of the physical space. It may be required to represent different parameters from the real space into a virtual space, such as the variation of light intensity or temperature. Some event in the physical space may also be required to generate a trigger and some how alter the electronic virtual space. Different types of sensors may be used to provide information about the physical space such as the dimensions of the physical space being measured by ultrasound or sonar. Sensor inputs are required to be fed into a computer, processed and then used to present a reflection in the electronic space. Triggers from the physical space are also measured by sensors and as an example; the presence of a human object in an area of the physical space may be registered by a capacitive sensor which will transmit this information into the computer. The computer that is being used may then take some action to process this trigger and generate some outputs or variations in the electronic space. Virtual spaces that are generated inside a computer after some processing of the data related to physical spaces are translated and made available in the real world by projection involving video, audio, tactile or hepatic devices or even by using the sense of smell. The virtual world of the computer is projected at some point or location in the physical world which is known as the point of projection. Device such as a screen, a virtual reality goggle or PDA etc are used for such projections. Projections of the virtual world into the real world through devices present users with an illusion of occupying some part of the physical space such as the space behind a projection screen or in front of a holographic plate. In purely virtual reality environments, the sensing of an object from the physical space may have an impact on the projection of the virtual space into the physical space, however, the object that is being sensed will not be a part of the virtual space. In mixed or augmented spaces, however, the sensed object will be incorporated into the virtual space and hence the link between the object that is being sensed and the projection is important. Location in space is usually measured in terms of some sort of coordinates which could be Euclidean coordinates such as polar, spherical or ordinance grid coordinates or alternatively, the location may be relative to a zone with objects being detected as being in a zone such as a room or a part of a room. Information about position may also be relational with some object being detected as being close to another object. The level of accuracy with which measurements in the physical space need to be made and information in the virtual space need to be displayed will vary for different applications, but the requirements related to accuracy will determine the amount of data that needs to be exchanged between the physical and virtual spaces. [10] As an example, head mounted displays and cameras that are mounted on these displays can be used to present computer modified reality to a user. The cameras sense reality and feed a video signal to a computer which is then modified by the computer according to the programmed algorithms for the generation of virtual space involving identification of objects, addition of data to images, image manipulation or object cancellation etc. The desired additions or modifications to the human view of reality are then projected on to the human eye through head mounted monitors or optical diversion and mixing of the real and virtual space. This is illustrated in the diagrams below. The Generation of Visual Augmented Reality using Head Mounted Displays, Cameras and Diverters for the Mixing of Real and Virtual Spaces [11] [12] Managing Multiple Spaces for Generation of Augmented Reality [13] Apart from optical see – through augmented reality displays, it is also possible to generate augmented reality using monitors and video see-through displays. Optical see-through displays in which the real world images are mixed with the virtual reality images that are generated by a computer using optical mixing are different from video see-through displays which project images that are desired to be seen by a human user on to the eye using a video display without any optical mixing from the real world. [14] The next section of this essay takes a look at the user benefits of an augmented reality system. 3. The User Benefits of an Augmented Reality System Augmented reality systems attempt to present a world which consists of a combination of computer generated imagery or other sensory inputs and real world perceptions that are available to a human user. Thus, augmented reality systems can present an enhanced view of the world to the users and the enhancements provide additional information which can be of benefit to the user in a variety of ways. The additional information which can be superimposed on the perception of a user can take a variety of forms depending on the application or the intended use of the augmented reality application. As an example, an augmented reality system may be designed to superimpose a pipeline system which has been designed for an industrial setting, or the system may assist a surgeon by superimposing internal imagery of a patient’s diseased organs on the image of their exterior anatomy, assisting the surgeon to perform surgery. All augmented reality systems assist humans to perform a task by enabli ng the human user to visualise, readily access additional information or to superimpose objects that are not visible on to real views. Augmented reality systems can enhance human understanding of what they are able to perceive and thus humans are assisted in solving problems which may be difficult if they were not provided any additional pieces of information. However, the applications of augmented reality are very broad and this technology has proven to be useful in very many applications. Thus, augmented reality may be used for entertainment or gaming, providing additional input on views of sporting events as well as assisting humans in more serious endeavours such as the battlefield, archaeology or architecture or urban design etc. Objects that are superimposed on real world views using augmented reality may be required to be presented in correct perspective depth as well as being accurately positioned with respect to other real or virtual objects and this can assist in human use rs being able to perform delicate work due to the additional understanding that they are able to acquire as a result of using augmented reality systems. Miniaturisation of computing elements and advances in wireless as well as general technological advances on a broad front have made it possible for augmented reality systems to be miniaturised and to be made wearable or portable, adding to their general usefulness both indoors and outdoors. Thus, augmented reality systems are able to assist, entertain, inform or aid humans by enhancing their perceptions in a wide variety of applications. [15] [16] [17] [18] The next section of this essay presents a brief discussion on portable augmented reality systems in wearable computers. This topic is important because portable and wearable systems have added considerably to the utility of augmented reality systems. 4. Portable Augmented Reality Systems in Wearable Computers Portability is required if an augmented reality user has to change their position in the world. Unlike virtual reality, augmented reality users cannot change their position by changing their location in the computer generated virtual world and have to be able to move around in the physical world. Portability is essential for a wide variety of augmented reality applications because users may be required to roam around in large areas. However, such requirement means that the augmented reality equipment has to be self contained as well as portable and that it should be possible to track users outdoors. The requirements for being able to track a user means that markers or communication relays will have to be utilised, especially if the computational requirements associated with augmented reality cannot be fully catered for on the portable end of the equipment and signals have to be relayed to a desktop, mainframe or networked computer. Because augmented reality does not replace the real world as virtual reality does, therefore, the resolution requirements associated with display devices or sensors are generally less stringent then those for virtual reality applications. Full colour displays are usually required for virtual reality applications, but monochrome displays may be sufficient for augmented reality. Requirements associated with rendering are also not a problem with augmented reality applications because images are only required to add to the real world visual inputs. However, tracking and sensing requirements for augmented reality applications are far more stringent then those for virtual reality applications because objects in the virtual space have to be correctly aligned with objects in the real world. As a result of the requirement to accurately track a user’s head and objects in the surrounding area, a large volume of tracking data is likely to be generated which must be processed in real time. If a portable or wearable computer is incapable of catering to these processing requirements, then reliable communications links must carry the tracking or associated data to remote computers. Thus, trackers or sensors are required to have a longer range, greater input variety and bandwidth as well as better accuracy. [19] [20] [21] Advances in portable augmented reality systems have been made possible as a result of faster, more rugged and better computing devices which consume low power. Wearable computers are required to be comfortable, safe and adjustable for an individual’s personal preferences. The user interfaces for such systems have to be user friendly as well as being capable of operating correctly in a harsh and noisy environment. Gesture and hand motion based interfaces have shown a promise in wearable computing, but such systems are required to be able to interface with a user in a reliable manner. Software for augmented reality substantially increases in complexity with complex applications. Short range wireless communication technologies such as Bluetooth have made it possible for sensors to be readily placed on all parts of the human body. Thus, it may be concluded that portable augmented reality systems are required and useful but their widespread use and acceptance will depend on the rel iability, ruggedness, comfort as well as computing power which can be packed into such systems. However, technological advances on a broad front have resulted in many portable augmented reality systems being developed including systems for military, field archaeology or navigational assistance to name a few. [22] [23] The human factors requirements associated with wearable computing demand that aspects related to safety, ergonomics, anthropometry and ease of use or usability be considered in the design of portable or wearable augmented reality systems. Human users should be able to comprehend information that is being presented to them without any perceptual interference. The design of the wearable system should be based on ergonomic studies with good visually coupled display design. The user interface design should promote reliability in interactions with the system and usability for the human user. The augmented reality system is required to minimise the cognitive load on the human user and not add to the problems. It should be possible to indulge in team collaboration through the wearable augmented reality system. [24] The design of usable interfaces for human interactions is of the greatest importance in the design of wearable augmented reality system design. There are many usability guidelines which should be considered for designs and the quality of the design for usability can also be used to evaluate an augmented reality system. The design of a user interface should take into consideration factors including the level of user experience, support for interactions with other users, number and location of users, ease of calibration, support for body centred interactions, reduced relative latency and provide the user with a tracking system that is accurate to a small faction of a degree in orientation and a few millimetres in position. The overall system processing delay should be minimised and there should be a level of consistency in the visual or sensory cues that are presented to the user. It is desirable that the errors which affect the performance of an augmented reality system and which are discussed in section 6 are minimised. The considerations associated with a good design of a wearable augmented reality system are too numerous to be tabulated here, but a detailed discussion about these issues is presented in Gabbard, Joseph. L. â€Å"Researching Usability Design and Evaluation Guidelines for Augmented Reality (AR) Systems†. Virginia Tech. 2001. [25] In the next section of this essay, a discussion is presented about the outdoor use of an augmented reality system. 5. The Outdoor Use of an Augmented Reality System Augmented reality systems are increasingly being used outdoors. Whereas, it is obvious that the use of augmented reality is gaining greater acceptance because there is a need for applications to assist humans with various activities outdoors, it is also important to understand that the outdoor use of augmented reality presents some technical challenges. Examples of the outdoor use of augmented reality include assistance with rescue operations after a natural disaster such as an earthquake or assisting with military operations in urban environment. [26] [27] Both of the previously mentioned applications require the augmented reality equipment to operate in a harsh environment in which any existing communications infrastructure is likely to have been obliterated or in danger of being destroyed. The military application can assist soldiers in identifying buildings, getting a feel for their interior and to be informed about potential threats such as the location of snipers from battlefie ld intelligence network, with such information being conveniently displayed on their field of vision. However, communication links are important because sophisticated computations on data cannot be performed on portable augmented reality units. Disaster relief can be aided by augmented reality as a result of rescuers being provided with on the spot information about buildings, terrain and the likely results of any planned rescue operations such as the likely impact of clearing a path through rubble. Although the additional information that is presented by outdoor augmented reality systems is likely to be of great benefit, it has to be realised that the generation of such information is only possible after extensive digital surveys of the areas for which augmented reality is being used are available. The likely design of such augmented reality systems will also mean that not all computation or data storage is capable of being performed on the portable units which are provided to the field users. The need to establish and maintain communication links as well as sophisticated computer equipment with which portable units are connected through communication links as well as the requirements to collect detailed data such as airborne laser scanning data under conditions of war or immediately after a natural disaster are some of the difficulties associated with the previously outdoor augmented reality applications. The equipment has to be extremely rugged and reliable as well as capable of being worn over long periods. In the military applications, the communication system which consists of fixed transmitters can be vulnerable and there is a requirement to maintain the large bandwidth communication links between the portable units and a central computer so that the augmented reality system can superimpose virtual scenes on real world information with accuracy as well as reliability. It will be undesirable to have augmented reality system malfunctions in situations whi ch require that users concentrate on other critical tasks rather then fixing any idiosyncrasies associated with the augmented reality equipment. Generally speaking, it is difficult for the existing tracking technology to track a user with sufficient accuracy when a portable augmented reality system is being used outdoors. [28] The next section of the essay presents a discussion about errors in augmented reality systems. 6. The Potential Sources of Error in an Augmented Reality System An important problem which has been observed in augmented reality systems is that objects which have been generated by the computer in a virtual environment for superimposition on to the view of the real environment do not remain correctly aligned or locked onto the real world objects. The degree of misalignment can vary as the user changes their field of view and thus, with a changing field of vision due to a user moving their head, objects that are being viewed through the augmented reality displays can appear to swim as a user moves their head. [29] The errors which create problems in augmented reality systems can be broadly classified as static or dynamic errors. Static errors refer to those sources of error which can cause problems with the presentation of augmented reality when the user and the objects within the environment are completely still. Dynamic errors do not have an impact until there is a movement of the viewpoint or the objects. Some of the sources of error which ca n have an impact on the visual performance of augmented reality systems are as follows: [30] Static Errors Optical distortion caused by distortions or imperfections in the camera and lens systems especially in objects which are away from the optical axis. Errors in the tracking and sensing system which result a distorted output from such systems. Mechanical misalignments that exist within the components of the augmented reality system such as combiners, optics or monitors due to factors such as not having a sufficiently rigid mechanical frame. Incorrect viewing parameters due to a lack of calibration that has an impact on how the reported head or camera locations are translated into viewing matrices which are used by scene generators for drawing images that are required to be superimposed on to the real world inputs. Dynamic Errors End –to- end system delays cause problems because each component in the augmented reality system require some time to produce an output for a given input. Any change in the position or orientation of a user will take some time before being processed and registered on the augmented reality picture that is presented to a viewer. Delays associated with the tracking subsystem, communication links and scene generation as well as time delays that are associated with frame buffers will prevent an immediate updating of the augmented reality picture that is presented to the viewer. A certain level of delay or lag is acceptable and these delays will not cause a serious deterioration in the augmented reality presentation. Typi