Astronomers Peer Deep into Blobs in Space

Out in the depths of space, theres a blob that astronomers have been anxious to explain. It wasnt immediately obvious to them why it shined as brightly as it did. The blob (and it really is a blob) is called SSA22-Lyman-alpha-blob and it lies some 11.5 billion years away from us. That means that it looks to us now as it did some 11.5 billion years ago. SSA22-LAB appears to have two giant galaxies at its heart that are bursting with star formation activity. The whole region where this object and its galaxies lies is swarming with smaller galaxies. Clearly, something is going on there, but what?   VLT and ALMA to the Rescue This rare Lyman-alpha Blob is not exactly visible to the naked eye. Thats largely due to distance, but also because the light its emitting is visible to us here on Earth in infrared wavelengths and also in radio frequencies. The name Lyman-alpha-blob tells astronomers that the object originally radiated its light in ultraviolet wavelengths. However, due to the expansion of space, the light is shifted so that its visible in infrared. Its one of the largest of these LABs to be observed. So, astronomers used the European Southern Observatorys  Very Large Telescope Multi Unit Spectroscopic Explorer to dissect the incoming light for study. They then combined that information with data from the Atacama Large-Millimeter Array (ALMA) in Chile. Together, these two observatories allowed astronomers to peek into the heart of the action at the distant blob in space. Deep imaging with the Hubble Space Telescopes Imaging Spectrograph and the W.M. Keck Observatory in Hawaii also helped them refine the view of the blob. The result is an amazingly beautiful view of a blob that existed in the distant past but is still telling us its story today. Whats Happening at SSA22-LAB? It turns out that this blob is one very interesting result of galaxy interactions,  which create ever-larger galaxies. Furthermore, the two embedded galaxies are surrounded by clouds of hydrogen gas. At the same time, they are both cranking out hot young stars at a furious rate. Baby stars emit a lot of ultraviolet light, and that lights up the surrounding clouds. Its like looking at a streetlight on a foggy night — the light from the lamp scatters off the water drops in the fog and it makes a kind of foggy glow around the light. In this case, the light from the stars is scattering off the hydrogen molecules and creating the lyman-alpha blob. Why Is This Discovery so Important? Distant galaxies are extremely interesting to study. In fact, the more distant they are, the more fascinating they get. Thats because very distant galaxies are also very early galaxies. We see them as they were as they were infants. The birth and evolution of galaxies is one of the hottest areas of study in astronomy these days. Astronomers know that it proceeds as smaller galaxies merge together with larger ones. They see galaxy mergers at nearly every part of cosmic history, but the beginnings of those mergers started back 11 to 13 billion years ago. However, the details of all mergers are still being studied, and the results (such as this lovely blob) are often quite a surprise to them. If scientists can get a handle on how galaxies form through collisions and cannibalization, they can understand how these processes worked in the early universe. Whats more, from observing other, newer galaxies that have been through the same process that this LAB galaxy is experiencing, they know that it will result in a giant elliptical galaxy. Along the way, it will collide with more galaxies. Each time, the galaxy interaction will force the creation of countless hot, young massive stars.  These starburst galaxies show prodigious rates of star formation. And, as they evolve and die, they will also change their galaxy — seeding it with more elements and the seeds of future stars and planets. In a sense, looking at SSA22-Lyman-alpha-blog is like looking at the process our own galaxy might have experienced early in its formation. However, the Milky Way didnt end up as an elliptical galaxy in the heart of a cluster as this one will do. Instead, it became a spiral galaxy, home to trillions of stars and many planets. ​In the future, it will merge again, this time with the Andromeda Galaxy. And, when it does that, the combined galaxies will indeed form an elliptical. So, the study of SSA22-LAB is a very important step in understanding the origin and evolution of all galaxies.

The Three Theban Plays by Sophocles - 882 Words

Even though pride can be a good thing at times, it is hurtful, it is an emotion that can make or break someone. â€Å"Pride only breeds quarrels, but wisdom is found in those who take advice.† (Manimtim-Proverbs 13:10). In Sophocles, The Three Theban Plays translated by Robert Fagles, advice is one thing both Creon and Oedipus did not want to hear from people. A wise man will make mistake, take advice and learn, but a fool will not, they will let their pride get in the way. When I think of Creon and Oedipus, I think of them as fools; even though they both become king, they still lost something in the end due to their arrogance and excessive pride. Pride can be both negative and positive; when Pride takes over someone’s life, that person†¦show more content†¦Pride is not always a bad thing to have, but it is bad when it is exaggerated which may cause conflict. In this case, Creon’s pride cause a lot of problems, he looked down on others as if they were not human beings like him. In Antigone, Creon refused to let his son be with the woman he loved, his wife Antigone, because according to his judgment, she was not good enough for his son. Creon’s words about his son’s wife were â€Å"A worthless woman for my son? It repels me.† (Antigone- Line 644), which was very prejudice of him. Creon wanted Antigone dead just so that he could break them apart. When Creon realized that his pride was hurting everyone, even the ones close to him, it was already too late for him to do anything about it. Creon’s son and wife were already dead all thanks to him; if he had checked his pride at the door in the first place and supported his son, the son would have been alive and so could have been his wife. Creon thought that being a powerful king meant he could control everyone’s lives, but that was not the case. A king is supposed to be a leader, a role model to those who adore him, but Creon was far f rom being a role model or leader to those who worshipped him. So he ended up losing the people that mattered to him the most; Excessive pride kills. Same goes with Oedipus, he was so into his himself and had so much pride that he was not realizing that it would hurt him in the long run. OedipusShow MoreRelatedAristotle s The Oresteia And Sophocles The Three Theban Plays1342 Words   |  6 PagesThe tragic self which appears in Aeschylus’s The Oresteia and Sophocles’ The Three Theban Plays, is a self which is caught between the choice of two evils and between following natural and civic laws. However, the philosophical self in Aristotle’s The Nicomachean Ethics focuses on choice as well, but the choice of the highest good such that the fundamental aim of the self is happiness and to become rational human beings. The topic of choice also relates to the discourse between fate and free willRead MoreSophocles Antigone : The Third Of The Three Theban Tragic Plays1106 Words   |  5 PagesSophocles’s play, Antigone is the third of the three Theban tragic plays and was written around 440 B.C. and is still well known today. Sophocles s play Antigone tells a tragic story about family honor and a sister’s love for her brothers. After Antigone’s two brothers, Polynices and Eteocles died in battle, Creon became the new leader of Thebes. Creon orders that Eteocles have a proper burial while Polynices’s body remain unburied, simply left to rot. Antigone refuses to let her brother’s bodyRead More Comparing Creons Metamorphosis in Antigone, Oedipus the King, and Oedipus at Colonus1114 Words   |  5 Pageseasier to give in to. Before realizing it, this person has changed into a completely false, morally lacking being. Over the course of Sophocles three plays Antigone, Oedipus the King, and Oedipus at Colonus, Creon gradually changes from a moral, just king into a morally corrupt and deceptive character.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the opening of the first Theban play, Oedipus the King, Creon is a neutral character. He informs Oedipus that the city of Thebes is suffering from a great sickness, and heRead MoreThe Role Of The Gods In Oedipus The King By Sophocles1117 Words   |  5 Pageshave his or her life micromanaged for them. In the world-renowned Ancient Greek tragedy, Oedipus the King, by the famous playwright Sophocles, that is exactly what the gods do by controlling all aspects of the Thebans’ lives. The gods in this Ancient Greek tragedy are tyrants in that they determine one’s fate with no terrestrial hope of changing it and command the Thebans to find the killer of Laius or face a crippling plague. One of the main themes of this Greek tragedy is that no one can change hisRead MoreThe True Tragic Hero of Antigone879 Words   |  4 Pagesqualities. Although the character reaches a level of insight, a tragic flaw, such as hamartia, leads to their failure in the end. A perfect example of this can be found in Sophocles’ trilogy, The Theban Plays which follows the struggling city of Thebes and the efforts of its rulers to escape their misfortune. Antigone, the third play is an excellent example of this. As the title is Antigone, one would assume that she is the tragic hero, or heroine, but this is not the case. In the tragedy Antigone,Read MoreThe Conflict Of Sophocles Antigone1500 Words   |  6 PagesSophocles’ Antigone centers around a familial feud that develops between Antigone and Creon when Antigone decides to bury her brother and Creon’s niece, Polyneices. While Antigone believes that it is her religious and familial duty to bury her brother, Creon ob jects, citing the Theban civil war which took place right before the events of the play. Adhering to Greek literary tradition, Sophocles ultimately seeks not just to entertain the audience but also to teach a moral lesson, in this case aboutRead MoreAntigone : The Foreign Policies Of George Bush s Administration1045 Words   |  5 Pages Seamus Heaney’s adaptation of Sophocles Antigone takes inspiration from the foreign policies of George Bush’s administration, (McElroy. S, 2007 NYT). This is most notably seen through the character Creon and how he dictates to the people. Sophocles version of Antigone was written at a time shortly before Sophocles became one of ten generals that led a military expedition against Samos. I am going to be looking at the scene in which Creon and Haemon argue over Antigone and ultimately part on badRead More The Tragic Hero: Creon or Antigone? Essay1293 Words   |  6 Pagesboth be thought of as the tragic hero of the play. Though Antigone does show some of these characteristics of a tragic hero, Creon demonstrates the attributes more clearly and concisely. Creon is the King of Thebes, as well as the uncle of Antigone. Creon took the throne after a tragic quarrel between his two nephews, Eteocles and Polyneices. Despite his harsh governing and his crude ideals, he is not go od or bad. Creon is the tragic hero of the play Antigone, because of his superiority in his societyRead More Growing Up With Greek Literature Essay1456 Words   |  6 Pageshas always fascinated me. When I was younger, the Greek God’s always captured my interest, and I could never get enough of them. As I grew older, I became interested in the more refined aspects that Greek literature had to offer. Sophocles and The Three Theban Plays in particular, left me awestruck. I quickly began to realize that many of the new and inventive books and movies I had seen, had actually been written in one form or another, generations ago. I suppose my interest was first piquedRead MoreOedipus Reaction Paper639 Words   |  3 PagesWorld Literature Oedipus the King, also known by the  as Oedipus Rex, is an   tragedy  written by  Sophocles.  It was the second of Sophocles s  three Theban plays  to be produced, together with Oedipus at Colonus  and then  Antigone.  Oedipus Rex  chronicles the story of  Oedipus, a man who becomes the king of Thebes who was destined from birth to murder his father  Laius  and marry his mother  Jocasta. The play is an example of a classic tragedy, noticeably containing an emphasis on how Oedipus s own faults

Computing Strategies in Monopolistic Competition

Question: Discuss about the Computing Strategies in Monopolistic Competition. Answer: Introduction: Substitutes for each other. The typical characteristics of the market are product differentiation. Monopolistic market structure is the market structure that combines typical characteristics of monopoly and perfect competition. With monopolistic competition, there is free entry of firms to the market. Due to product differentiation, each firm behaves like a monopolist at its slender segment of an aggregate market of close substitutes. Each firm faces a downward sloping demand curve and it also has the power to influence the price for its commodity. Each firm seeks to maximize profits so it chooses its output in such a way that marginal cost is equal to marginal revenue. The first order condition of profit maximization under monopolistic competition is similar to that of under monopoly market: MR = MC. The only difference is that marginal revenue (MR) relies on the residual demand curve rather than market demand. On the other hand, residual demand is the demand for the commodity of a separate firm. In other words, it is aggregate market demand net of productivity of other monopolistic opponents (Roberts, 2014). Monopolistic competition indicates the economic market model, where there are several sellers, who are selling differentiated goods however; these goods are not identical. Under this market structure, the demand curve is elastic as the differentiated that are sold by the firms are close substitutes. As a result, if one firm increases the price of its product, most of its customers will switch to commodities that are manufactured by other firms. The elasticity of demand makes it identical to pure competition where elasticity is perfect. As a monopolistic competitor has fewer rivals as compared to perfect competition, the demand curve is not perfectly elastic (Zhelobodko et al., 2012). The suppliers in the monopolistically competitive markets are mostly price makers. The graph shows that the firm will produce the quantity at Q where marginal cost will be equal to marginal revenue. The price is set under this market structure based on where Q drops on the average revenue curve. The firm produces less and charges more, as they would do under perfect competition. This is mostly because; a monopolistically firm has market power. This in turn leads to deadweight loss for society. The green shaded area represents the profit of the firm made in the short term (Bertoletti Etro, 2015). In the long run, a firm mostly produce the amount of products where the long run marginal cost curve intersects with the marginal revenue. Although, a monopolistically competitive market makes profit in the short-run, the influence of its monopoly-like pricing leads to fall in demand in the long-run. The rise in cost and decrease in demand leads to tangency of the long-run average cost curve to the demand curve at the profit maximizing price of the commodity (Feenstra, 2016) The graph shows movement of a monopolistically competitive firm to long-run equilibrium. If firms are earning positive economic profits in a monopolistically competitive firm, other firms will get an inducement to enter the market. As a result, the share of each firm of the overall market demand becomes smaller and smaller. In other words, the demand curve facing a monopolistically competitive market shifts to the left. This procedure sustain until all the remaining firms in the market break even. Hence, outside firms will no longer have an inducement to enter the market (Balistreri Rutherford, 2013). In terms of economic efficiency, a firm that is in a monopolistically competitive industry behaves similarly as monopolistic firms. In a monopolistically competitive market, firms are mostly considered as a price maker that is, they are allowed to unilaterally alter or charge whatever they desire for their products without being influenced by market forces. The price is generally set where the profit maximizing level of production falls on the demand curve. This price also exceeds the marginal cost of the firm. As a result, customers will have to pay a price higher than they would pay in a perfectly competitive market. This in turn leads to significant drop in consumer surplus. On the other hand, producers will produce less of their products as compared to the quantity they would produce under perfectly competitive market. This will in turn offset the profits that they would gain from charging a higher price. This will in turn lead to fall in producer surplus (Nikaido, 2015). The diagram shows that monopolistic competition generates deadweight loss as well as inefficiency that is represented by the orange triangle. Productive efficiency mostly takes place when a firm makes use of all resources in an effectual way. This takes place when a price of a commodity is set at its marginal cost that equals the average total cost of the commodity. On the other hand, in a monopolistic competitive market, a firm always set the price in excess of its marginal cost. This in turn leads to inefficiency in the market. The quantity is produced when green and blue lines intersect. Similarly, allocative efficiency takes place when a commodity is produced at a level that maximizes social wellbeing. This takes place when the price of a commodity is equal to its marginal benefits that are also equivalent to its marginal costs. However, as price of a commodity in a monopolistically competitive market is greater than its marginal cost, the market can never be allocative efficient (Assenza et al., 2015). Industry where monopolistic competition prevails An industry where monopolistic competition prevails is that of a restaurant industry. Restaurants are mostly considered as a monopolistically competitive market and there are different restaurants in different sectors with no barriers to entry and exit. Every restaurant has close substitutes that mainly includes fast-food outlets as well as frozen-food sectors at local supermarkets (Erku?-ztrk Terhorst, 2016). Profit maximization: It is supposed that a restaurant increases its price to some extent above those of identical restaurants with which it competes. As restaurants are dissimilar as compared to other restaurants, some individuals will continue to patronize it. Within restriction, the restaurants are able to set their individual price. The Short Run: A restaurant competes with various other firms in a market in which there are no barriers to entry and exit. As a result, their demand curve is downward sloping. In other words, even if a restaurant increases its prices as compared to those of its competitors, it will have customers. As a result, marginal revenue curve of a restaurant will lie below the demand curve due to downward sloping demand curve. In order to raise its sale, a restaurant requires to lower its price. In other words, its marginal revenue from additional food items will be less than price (Stiglitz Rosengard, 2015). The Long Run: With the entry of new firms, the availability for food items in a restaurant will increase. This will reduce the demand that is facing the restaurant and as a result, the demand curve will become more elastic. The demand curve for the restaurant will shift towards the left. The marginal curve also shifts along with the shift in the demand curve. Hence, new restaurants will continue to enter the market, until the particular restaurant stops making economic profit. The zero-profit solution takes place when the demand curve for the restaurant is tangent to its average total cost curve. As a result, the price for food items of the particular restaurant will fall along with fall in output. The restaurant will cover its opportunity cost and hence it will earn zero economic profit (Baumol Blinder, 2015). The behaviors of firms in the market are as follows: Every firm makes an independent decision related to price and output that is based on its commodity as well as its market and costs of production Knowledge is broadly spread among participants however; it is unlikely to be perfect. In other words, customers can review all the menus that are obtainable in a restaurant before making the choice. Once they are inside the restaurant, they can again make choices by viewing the menu. However, they are not able to fully appreciate the meal available at the restaurant until they have eaten dinner (Schweinberger Suedekum, 2015). Due to increased risk associated with decision-making, the entrepreneur has a more imperative role as compared to the firms. There is no barrier to entry and exit and as a result, there is freedom to enter or leave the market. One of the central objectives of monopolistic competition is that the commodities are differentiated. There are mostly four types of differentiation that exists. The first differentiation deals with physical product differentiation where markets make the use of size, design, shape and performance to make their goods different. Market differentiation is also a part of differentiation with the help of which firms try to differentiation their goods by distinguishing packaging as well as other promotional methods. With the help of human capital differentiation, firms generate differences through the skill of its workers. The last type of differentiation is through distribution that includes mail order and internet shopping (Park et al., 2015). Each firm has a downward sloping demand curve, and is considered as price makers rather than price takers. Each firm makes an exclusive commodity and as a result, they are able to charge a higher or lower price as compared to its competitors. Firms that operate under monopolistic competition also require to get engage in advertising. Each firm is in a fierce competition with other local firms that offers the identical goods or service. The firms may require to advertise on a local basis in order to let their customers know their differences (Kirzner, 2015). The firms that operates under monopolistic competition are assumed to be profit maximisers as the firms have a tendency to be undersized with entrepreneurs vigorously involved in organizing the business (Parenti, Ushchev Thisse, 2017). In this type of market structure, large number of independent firms competes in the market. Negative externalities One of the proposed coalmines located in the north of the Galilee basin is the Carmichael coalmine. Due to economic transaction, third parties mostly face negative externalities. Under economic transaction, the producers and consumers are considered as the first and second parties. An individual or an organization is considered as the third party. In economics, an externality is the cost or benefit that affects a party who does not select to incur that cost or benefit. Externalities are mostly referred to as spillover effects and a negative externality is always associated with external cost. When negative externality takes place in an unregulated market, producers does not take accountability for external costs that exists (Phelan et al., 2017). The diagram shows the effect of negative externality where supply curve or the marginal cost curve is represented by the green line. On the other hand, the purple line represents the marginal cost curve that is faced by a firm with negative externality. The optimal production quantity is represented by Q2 where the negative externality in production is leads to Q1. The shaded portion represents deadweight loss (Lucas, 2016). The negative externalities that are associated with Adani Group's Carmichael coalmine are as follows: It leads to lessening in life expectancy as it releases sulfur dioxide, ozone, heavy metals and particulates that is dangerous to health. It also leads to respiratory hospital admission It also leads to several diseases such as non-fatal cancer, ataxia, osteroporosia and renal dysfunction It leads to reduction of crop yields due to some toxic emission that leads to fertilizing effect. It also causes loss of ecosystems and degradation (Olabi, 2016). One of the common types of negative externality is pollution that is caused by Adani Group's Carmichael coalmine. The individuals who are living around the coal mine factory will pay for the pollution that is caused by the Group. The negative externalities will be mostly in terms of higher medical bills as well as poorer quality of life. Thus, coal mining by Adani Group's Carmichael leads to negative cost to the individuals who are surrounding the factory. Coal mine releases greenhouse gas that leads to issues in the environment. Each year, Adani Group releases almost 145 million tons of sulfur due to smelting. As a result, it contaminates water due to explosives such as gravely toxic (Calvo Prez, 2016). Externalities mostly represent an observable fact of low efficiency that is beyond the extent of decision makers under the aspect of resource allocation. In ecology of coal mining, external economy indicates to coal mining promote the expansion of the economy of the city rapidly. On the other hand, external diseconomy refers to pollution created in the environment as well as ecological damage that is associated coal mining (Roper, Love Bonner, 2017). The diagram shows negative externalities that are caused by activities related to coal mining. The coal industry is mostly considered as a competitive market. In this case, marginal social cost is greater than marginal private cost by the amount of the external cost. The external cost, here, indicates ecological damage as well as water pollution. The marginal social benefit is equal to marginal private benefit as it is assumed that there are no marginal benefits associated with coal mining. If the individuals take into account their private cost, it is likely that will end up with P1 as price and Q1 as quantity. On the other hand, they will not take into account the more effectual price P2 and effectual quantity Q2. As a result, free market is unproductive as at the quantity Q1, as in this case, social cost is larger as compared to social benefit. In that case, society will be better off in an overall basis if coal mining between Q1 and Q2 had not been generated. The government also requires to take charge of improvement as Adani Group only pays for coal mining and processing (Feng, Wang Zhang, 2014). The company leads to negative externalities by polluting air and water and these externalities are more than simply an ethical issue. The internalization of negative externality of activities related to coal mining is the most necessary thing to establish ecological recompense mechanism. Mostly, ecological service function has a particular economic value and as a result, it can generously exchange in a perfectly competitive market. Figure 5 illustrates the relationship between marginal costs of Adani Group as well as loss of ecological service. In other words, it indicates the destruction of the ecosystem during coal mining activities. According to the theoretical analysis of Pigou tax, it is assumed that MPC indicates external diseconomy without taking coal-mining cost into consideration. On the other hand, Q1 and Q2 indicate losses related to ecological services that are generated by coal mining. Similarly, Ptax and P indicates coal price. Q1 indicates optimal losses of ecological services whereas; Q2 is the total amount of environment caused by Adani Group's Carmichael coal mine (Collier Venables, 2014). In order to address the market failure associated with coal mining it is imperative to supervise resource developers in order to restore damaged surroundings as well as pay for direct sufferers. It is also important to improve environmental quality as well as regulate the relationship between resource enhancement and environmental protection. This is considered as the most effectual method that will help to address market failure as well as policy failure. References Assenza, T., Grazzini, J., Hommes, C., Massaro, D. (2015). PQ strategies in monopolistic competition: Some insights from the lab.Journal of Economic Dynamics and Control,50, 62-77. Balistreri, E. J., Rutherford, T. F. (2013). Computing general equilibrium theories of monopolistic competition and heterogeneous firms.Handbook of Computable General Equilibrium Modeling,1, 1513-1570. Baumol, W. J., Blinder, A. S. (2015).Microeconomics: Principles and policy. Cengage Learning. Bertoletti, P., Etro, F. (2015). Monopolistic competition when income matters.The Economic Journal. Calvo, J. A. P., Prez, A. M. J. (2016). Optimal extraction policy when the environmental and social costs of the opencast coal mining activity are internalized: Mining District of the Department of El Cesar (Colombia) case study.Energy Economics,59, 159-166. Collier, P., Venables, A. J. (2014). Closing coal: economic and moral incentives.Oxford Review of Economic Policy,30(3), 492-512. Erku?-ztrk, H., Terhorst, P. (2016). Innovative restaurants in a mass-tourism city: Evidence from Antalya.Tourism Management,54, 477-489. Feenstra, R. C. (2016). Gains from Trade Under Monopolistic Competition.Pacific Economic Review,21(1), 35-44. Feng, S., Wang, D., Zhang, X. (2014). Study on Ecological Compensation for Coal Mining Activities Based on Economic Externalities.Journal of Geoscience and Environment Protection,2(02), 151. Kirzner, I. M. (2015).Competition and entrepreneurship. University of Chicago press. Lucas, A. (2016). Stranded assets, externalities and carbon risk in the Australian coal industry: The case for contraction in a carbon-constrained world.Energy Research Social Science,11, 53-66. Nikaido, H. (2015).Monopolistic Competition and Effective Demand.(PSME-6). Princeton University Press. Olabi, A. G. (2016). Energy quadrilemma and the future of renewable energy.Energy,108, 1-6. Parenti, M., Ushchev, P., Thisse, J. F. (2017). Toward a theory of monopolistic competition.Journal of Economic Theory,167, 86-115. Park, S. J., Cachon, G. P., Lai, G., Seshadri, S. (2015). Supply chain design and carbon penalty: monopoly vs. monopolistic competition.Production and Operations Management,24(9), 1494-1508. Phelan, A. A., Dawes, L., Costanza, R., Kubiszewski, I. (2017). Evaluation of social externalities in regional communities affected by coal seam gas projects: A case study from Southeast Queensland.Ecological Economics,131, 300-311. Roberts, K. (2014). The limit points of monopolistic competition.Noncooperative Approaches to the Theory of Perfect Competition,3, 141. Roper, S., Love, J. H., Bonner, K. (2017). Firms knowledge search and local knowledge externalities in innovation performance.Research Policy,46(1), 43-56. Schweinberger, A. G., Suedekum, J. (2015). De-industrialization and entrepreneurship under monopolistic competition.Oxford Economic Papers,67(4), 1174-1185. Stiglitz, J. E., Rosengard, J. K. (2015).Economics of the Public Sector: Fourth International Student Edition. WW Norton Company. Zhelobodko, E., Kokovin, S., Parenti, M., Thisse, J. F. (2012). Monopolistic competition: Beyond the constant elasticity of substitution.Econometrica,80(6), 2765-2784.

Louis XIV Essays (771 words) - Dauphins Of France,

Louis XIV annon The term ?splendid? is one that most English speaking people are familiar with. To most of those people it has a meaning related to the overall appearance or feeling of what ever is being described. Webster?s dictionary defines the term as: 1. magnificent and sumptuous. 2. distinguished or glorious. Splendor is more that that. It is an adjective that could be used to describe something so great and breath taking that one is left awed.The word splendid is often associated with the palace of Versailles, which was built Louis XIV. In the production of this grand structure there was no cost spared. It became a symbol of France, and a model by which all other palaces would be judged. Louis XIV received a great deal of criticism from onlookers as he used the French equivalent to millions of dollars to built this outstanding structure. There is still some speculation as to whether or not this was a good investment. It has been argued that the money could have gone to the poor or needy. The palace of Versailles was controversial, but in high insight, it is clear that Louis XIV made a sound decision in its erection. As Louis XIV took the throne, he was faced with several problems. He knew that he did not want to reside and rule in Paris, so against the will of his advisors he chose a hunting chateau as the site of his new palace. He also knew from history that the nobles of his domain had in the past and would continue to cause trouble in the form of uprisings and other conflicts. Louis XIV sought absolute power, and he knew that he would not be able to obtain this if preoccupied by civil conflicts. His solution to this problem was building Versailles and inviting all of the nobles to reside there. This was a brilliant scheme to keep the nobles out of the politics of the country. He preoccupied them with tasked normally associated with chamber maids, thus allowing him to rule as an absolute monarch. The splendor of the palace was a key factor in this plan because with out it, the nobles would not have a willing to leave their homes and move to Versailles. The historical account, The Splendid Century , written by W.H. Lewis is a very useful tool in understanding the life of Louis XIV. It tells of his life, his goals, his motives, and the means by which he achieved those goals. It is blatantly obvious that Louis XIV though a great monarch, cared little for the common people of his country. Regardless of this, it is almost a matter common knowledge that Louis XIV brought France to its peak in terms of its respect and social status in the world. During his reign France became the authority on all that was proper and elegant. All of this seems trivial, but the fact is, it was very important to the people of the upper class, and as always they were controlling the world. There were several qualities that Louis XIV possessed that were found undesirable by his common subjects. His tax system weighed most heavily on the lower class, and they were often called to fight in all sorts of different wars for the extension of the empire. It understandable that he was popular among these people, but their opinion was really not significant on the grand scheme of his plans for France. There is no question that Louis XIV took France to an entire new level in the world view. During his reign, the French empire grew vastly, and was greatly respected. To this day, he remains a French hero, and is widely viewed as the greatest monarch that ever lived. It is not because of his accomplishments that these views are held, but rather his ability to play the part of a great leader. All of this was possibly because of his emphasis on materialistic splendor. He knew that by enticing his rivals with riches, he then could control Europe. When it is said that Louis XIV had an ability to play the part of a great leader there is often misunderstanding. He was a powerful ruler, but more importantly that , he took his role as king very seriously. He was known to be a very handsome man with a well proportioned body. He believed appearances and material goods were an important aspect of royality. He allowed people to watch him and follow him at all times, and he made the responsibilities of chamber maids into