History of Michigan

Gold dust and silver nuggets B) human scalps taken from rival tribes and then used to trade for other goods C) furs (especially beaver, otter, fox and sable) D) feathers from birds like eagles, hawks and herons . According to Henry Rowe Schoolmate (a lifetime observer of Michigan Indians), what was MOST responsible for causing the gradual decline of the Native American population in the Great Lakes region? A) their addiction to tobacco B) their growing addiction to alcohol C) armed conflicts with white men D) the devastating effects of diseases like smallpox and measles 6. N the final twenty-five years of the twentieth century, the economic outlook for Michigan Indian tribes began to improve significantly. On July 4, 1984, a number of Michigan tribes began to benefit financially from what? A) free allege scholarships offered by the federal government to all Native American children who had graduated from high school B) unrestricted fishing on the Great Lakes C) casino gambling D) rep arations (cash payments) from the federal government as compensation for broken treaties and other offenses committed by the U.S. In the past 7 France, Rupee's wealthiest and most populous nation, did not enter the race to establish colonies in the New World until 1522. Spurred by accounts of Magellan success in circling the globe, the French sought to become the first European nation to discover what? A) the fabled â€Å"Seven Cities of Gold† B) the Northwest Passage-?a water route across America that would provide a shortcut to the spice-rich Orient C) the source of the Mississippi River D) the Fountain of Youth 8. M 1523, what Italian navigator sailed under the French flag and explored the North American coast from Virginia to Newfoundland? A) America Vesuvius B) Christopher Columbus C) Giovanni De Overgraze D) Marco Polo 9. Capon arriving in Canada in 1541, French explorer Jacques Carrier's men discovered what appeared to be gold and diamonds. Eager to get news of this gr eat discovery back to the King, Carrier filled two ships with the treasure and sent them to France. What had Carrier's men actually found?A) the gold was actually copper and the diamonds were quartz B) the gold was actually iron pyrite (â€Å"fool's gold†) and the diamonds Were mica C) TRICK QUESTION: the gold was real and so were the diamonds D) the gold was actually silver and the diamonds were amethyst 10. Although King Francis of France decided in 1 540 to establish a permanent French colony in Canada, this first attempt failed for three reasons: bad weather, constant harassment from hostile Indians, and a government back home in France that was distracted by what? A) internal religious struggles B) the French RevolutionC) a slave uprising in the Caribbean D) a war with England 1 1 -In 1 609, Samuel De Champlain and two companions assisted the Huron Indians in a fight with the Mohawk Indians that became known as the Battle of Ticonderoga. The actions of the French in this battle caused a powerful ally of the Mohawk to forever after view the French as an enemy. What tribe was the Mohawk' powerful ally? A) Iroquois B) Sioux C) Ottawa D) Delaware 12. An 1661, King Louis CSV's chief minister, Jean Baptists Collect, sought to import furs from France's colony in the New World, as well as use it as a source for â€Å"naval stores. What are â€Å"naval stores? A) mercantile (retail) establishments where colonists could purchase a boat or ship B) mercantile establishments set up especially for naval officers and sailors C) raw materials (trees, tar, turpentine, iron, etc. ) that could be used to build ships D) large warehouses and docks where naval ships could be tied up when not in use 13. Between 1665-1670, Jean Talon was the first and perhaps greatest INTENDING (an administrator, similar to a governor)ever to serve in New France.Talon planned to increase the colony's population and make it economically self-sufficient by providing colonists with free tr ansportation ND free land. In addition, Talon also brought nearly 1,000 what to the colony? A) horses, to be used for farming B) â€Å"King's Daughters†Ã¢â‚¬â€œorphan girls and daughters of poor families in search of husbands and a new life C) Musketeers–professional soldiers trained in the use of muskets D) â€Å"King's boys and sons of poor families in search of wives and a new life 14. Why did Jean Baptists Collect want to restrict the fur trade in New France in 1 661?A) he feared it would draw all the healthy young men away from their farming activities B) he realized that the market in Europe and Asia was becoming glutted with furs and the entire industry would soon collapse C) he realized that most of the fur-bearing animals in Canada had been nearly hunted and trapped to extinction D) he wanted to drive up prices by reducing the number of furs that were available for export 15. Rene Robert Cavalier, Easier De La Sale, built a shipyard above Niagara Falls where he constructed the first European-style ship to sail on the Great Lakes.In 1679 he set sail across Lake Erie and reached the Detroit River. What was the name of La Sale's ship? A) Golden Hind B) Discovery C) L ‘Ocean D) Griffin 16. While England and France had been at war three times be;en 648-1748, the Michigan area had never been seriously affected; but this all changed with the outbreak of what war? A) Hundred Years' War B) Queen Ann.'s War C) French and Indian War (known in Europe as the Seven Years' War) D) War of the Roses 17. Please match each term below with the correct definitions. A.General Edward Bradford – A British commander who was sent from England with 1500 men to fight the French during the French & Indian War. (He disregarded advice from colonial military men and was killed with 977 of his men on July 9, 1755. ) B. Ribbon farms – Land grants given by Antoine Cadillac. Each individual plot was usually 400-600 feet wide x 1 1/2 to 3 miles in lengt h and fronted the Detroit River. C. Major Robert Rogers – British officer who accepted the surrender of Fort Panchromatic from French Captain Franà §ois De Belletrist on November 29, 1 760, thus ending French rule in Michigan. D.Quebec – First permanent French settlement in the New World (founded in 1608). E. Seigneurs – Areas of land operated under the rules of feudalism in New France. (A F-ranch noble divided small parcels of land along the SST. Lawrence river among farmers to settle. ) F. Montreal – Modern city located on he site Of an Indian village called Hoagland. 18. NNE Of the most SUCCessfUl French missionaries ever to come to the region that is now Michigan became famous for paddling a canoe along the western and northern shores of Lake Michigan to Green Bay (Wisconsin) and back–and making the trip, not once, but twice.In 1673, this missionary also became one of the first Europeans to see and explore the Mississippi River. What was his n ame? A) Father Jean De Buffer B) Father Joseph Electron C) Father Jacques Marquette D) Father Rene Meaner 19. Both England and France had different economic strategies for their colonies in North America. France sent mostly trappers and by 1750, New France had a population of about 50,000 people. England sought to tame the wilderness and create settlements that would be secure for women and children. How many people lived in the British colonies by 1750? A) 1 00,000 B) 1. 5 million C) 150,000 D) 500,000 20.To help secure its hold on North America, France built a line of forts from the end of Lake Erie to the Ohio River. What young officer did Governor Identified of Virginia send into the Ohio Country with 1 00 men in what turned out to be an unsuccessful attempt to force the French to withdraw? A) â€Å"Mad† Anthony Wayne B) Alexander Hamilton C) George Washington D) Daniel Boone 21 . During the first year of the French and Indian War, the British found themselves losing grou nd to the French. In 1 756, the tide of the war changed when the new Prime Minister, William Pit, adopted a new strategy towards the French.What did Pit do? A) order British troops to invade Paris in hopes Of toppling the King and ending the war B) attached French interests all over the globe so that France would be forced to concentrate less attention on North America C) convinced Spain to join forces with Britain and drive the French out of North America D) convince France's Indian allies to switch sides ND fight with the British instead 22. An 1759, French rule in North America ended when a British force under General James Wolfe defeated the French army commanded by General Louis Montanan. The battle took place on the Plains of Abraham outside what city?A) Quebec B) Montreal C) Buffalo D) Ottawa 23. By 1980, 49% of Michigan Indian households were near or below the national poverty line. According to our textbook, â€Å"much of this poverty was a direct result Of A) High levels Of unemployment. B) Lack of transportation. C) Lack of interest. D) No access to available child care. 24. What was the most noteworthy aspect of Potawatomie social culture? A) polygamy B) human sacrifice C) ritualistic scarification D) polyandry 25. What term describes the network of waterways linked by portages that French voyageurs established across the wilderness and mountainous areas of Canada?A) Northwest Passage B) El Camino Real (â€Å"Road of the King† C) fur artery D) Land of Lakes 26. An the sass-1 sass, French adventurers went deep in the backwoods of North America to trade with various Indian tribes for furs. These men lived with native peoples, adopted their lifestyles and dress, and often married Indian women. These adventurers were called: A) conquistadors B) Cooers De Bois C) cavaliers D) Cadillac's AAAS illustrated in the Powering on Native Americans, what Indian invention allowed the Iroquois to fight during the winter months when the snow was deep? History of Michigan The Free Press did not believe that blacks were qualified to fight. A. â€Å"First Ethiopians† A male impersonator from Flint, Michigan named Sarah Emma Edmonds who enlisted in the Union Army using a man's name and served for two years. E. Franklin Thompson Nickname for the Michigan 24th Infantry, consisting Of men mainly from Wayne County, who distinguished themselves during the Battle of Gettysburg. D. â€Å"Black Hat† Iron Brigade While serving with the 4th Michigan Cavalry, this officer succeeded in capturing former Confederate President Jefferson Davis as Davis attempted to flee to Georgia after the end of the Civil War.B. Benjamin D. Pritchard 2. Although no battles were fought on Michigan soil during the Civil War, and there were no plantations or slaves that needed to be emancipated, Michigan ‘s citizens nevertheless responded to the cause. How many soldiers from Michigan participated in the war? A) 90,000 B) 45,000 C) 120,000 D) 50,000 3. When President L incoln issued the Emancipation Proclamation in 1862, all he did was free the slaves in all of the states that â€Å"were in rebellion† (the Southern states that had left the Union to form the Confederacy).Even though he was the President, Lincoln could not end slavery in the United States on his own because it was actually protected by the Constitution and was the legal law of the land. After the Civil War ended, which amendment to the constitution ended slavery in the U. S. For good? A) Thirteenth B) Fourteenth C) Fifteenth D) Eighteenth 4. An 1874, a women's suffrage amendment to the state constitution was overwhelmingly passed by the Michigan legislature and placed on the November ballot. The Michigan campaign depended heavily on appearance by which long-time leaders of a woman's right to vote?A) Harriet Tuba and Sojourner Truth B) Mary Todd Lincoln and Elizabeth Ackley C) Elizabeth Barrett Browning and Emily Dickinson D) Elizabeth Caddy Stanton and Susan B. Anthony that d id Michigan farm families do during the Civil War to cope with the severe manpower shortage? A) actively recruited runaway slaves and free blacks to work for them B) cut back on the amount of crops they planted, which resulted in food shortages across the state C) invested in more mechanized machinery, like harrows, reapers and mowers D) petitioned Congress for financial assistance 6.The woman's suffrage amendment was crushed, in large part because opponents of the measure had convinced Irish and German voters that omitting bad would would happen if women were given the right to vote. What was it? A) women would start dressing and acting like men B) women would immediately pass a law prohibiting the sale and consumption of alcohol C) women would take jobs away from men D) the institution of marriage would be destroyed 7. What made it possible for women to ride safety bicycles in public during the sass and 1 8905 without fear of â€Å"moral hazard? A) the invention of tandem (2-pers on) bicycles which enabled a woman to be accompanied by a man who could protect her honor while cycling B) the ratification of the 18th Amendment to the U. S. Constitution C) the widespread adoption Of â€Å"bloomers† a cross between a split skirt and trousers D) the widespread installation of concrete sidewalks (women had not been allowed to ride in the streets) 8. An 1870, the Fifteenth Amendment (which gave black men the right to vote) was ratified. Women finally were given the right to vote when the Nineteenth Amendment was ratified in what year?A) 1920 B) 1880 C) 1910 D) 1890 9. What item(s)from the Lincoln White House did Henry Ford purchase and put on display in his museum in Dearborn? A) the Lincoln China (ornate dishes & lace settings used during State dinners) B) the Lincoln Library (Lincoln personal collection of books) C) furniture from the Lincoln Bedroom D) the Lincoln Death Mask (a plaster cast of Lincoln face made shortly after he was assassinated) 10. An Apri l 9, 1865, General Robert E. Lee surrendered to General Ulysses S. Grant at Appoints Courthouse, thus bringing an end to the Civil War.What was George Armstrong Custer given as a souvenir of the event by his commanding officer, General Phil Sheridan? A) General Lee's sword B) General Lee's white horse C) Nothing. Sheridan hated Custer. D) One of TV small tables inside the house on which the surrender documents had been signed by Lee and Grant. 1 1 . Please match each term with the correct definition. The industry in Michigan that suffered the most during the Civil War. B. Lumber The industry in Michigan that enjoyed a huge boom during the Civil War. F. Proper Sworn in as Michigan 13th governor in 1861; he warned that the Union had to be maintained at any price and that secession was revolution and treasonous. A. Governor Austin Blair Wealthy Flint lumber and railroad magnate who was elected governor in 1864. E. Governor Henry H Crap Instituted a system of taxation and licensing to r egulate liquor traffic in Michigan. C. Governor John J. Bagley Attempted to remain Detroit mayor after being elected Governor of Michigan in 1896–he wanted to hold both jobs at once. D.Governor Haze S. Fingerer 12. What famous landmark in downtown Detroit was built by James McMillan–a wealthy Detroit businessman and a powerful Republican senator during the Progressive Era? A) Book-Cadillac Hotel B) Fisher Building C) Guardian Building D) Fox Theater 13. An 1902, Henry Ford and Tom Cooper teamed up to build a race car. They ladled it the â€Å"999† (after the fastest steam locomotive of its day) but neither man had the nerve to drive it. Instead, they recruited a fearless bicycle racer to drive it for them.What Was the name Of the man who drove â€Å"999† to several victories? A) Horace Dodge B) Barney Oldie C) Lie screen D) Alexander Winston E) TRICK QUESTION: Henry Ford drove â€Å"999† since he was the one who designed it. 14 As early as 1845, th e State of Michigan pursued a polity aimed at attracting new settlers from Europe. One group above all others was eagerly recruited. Because its members were staunchly religious, family oriented, industrious and educated, this group was viewed as making ideal residents for Michigan. What was the group?A) Scandinavians B) Dutch C) Cornish D) Irish E) Germans 15. Because of its close proximity to Canada, Michigan has always been a source of refuge for Canadians and CANADIANS. What is a CANADIAN? A) female Canadian B) Canadian resident of Quebec C) French-speaking Canadian D) Canadian originally born in France 16. Please match each term with the correct definition. Immigrants known for their expertise in hard rock mining deep underground. A man from this ethnic group was nicknamed â€Å"Cousin Jack† while a woman as called â€Å"Cousin Jenny. † C.Cornish Immigrants who came to Michigan primarily to find work (mining, digging canals, laying railroad tracks, selling linen o r becoming policemen and firefighters), and were often very religious. D. Irish Part of a later wave of immigrants from Southern and Eastern Europe, many of whom arrived as illiterate, unskilled menial laborers. They often initially chose to live in native-speaking urban ghettos rather than become assimilated into American society. E. Poles Immigrants who in engaged in farming, as well as worked in mining, lumbering and railroad industries.They ere welcomed because they were literate and hard-working. A. Scandinavians Immigrants who settled on the extreme western side of the Lower Peninsula and earned a reputation for making Michigan a leader in the production of celery. B. Dutch 17. As late as 1935, Michigan had more than 18. 5 million acres of land under cultivation and approximately 20% of the state's population listed their occupation as â€Å"farmer. † By 1970, agriculture accounted for a mere 4% of the state's income and only 1. 5% of the state's residents were farmers. At the turn of the 21st century, how many acres of farmland was Michigan losing to urban sprawl EACH DAY? A) 133 acres B) 333 acres C) 33 acres D) 233 acres 18. Professional medical attention was still not available to most rural Michigan women during the mid-19th to early 20th centuries. Midwives, who provided care to childbearing women during pregnancy, labor and birth, as well as during the postpartum period, sometimes filled the void. These caregivers were known affectionately as: A) Wet Nurses B) Angels of Mercy C) Sisters of Mercy D) Sister Wives 19. Dry. History of Michigan Eerie in 1959, Delbert L. Hatchet, then president of the Oakland County NAACP, filed suit in Federal Court complaining that Pontiac schools were elaborately segregated. Schools were either _ percent white or _ percent black. A) 60 percent white or 40 percent black. B) 50 percent white or 50 percent black. C) 75 percent white or 75 percent black. D) 90 percent white or 90 percent black. 6. To help ease a manpower shortage in war industries in 1 942, what specific group of people received postcards from the Michigan Director of War Manpower Commission asking them to take jobs in war-related industries?A) senior citizens B) disabled adults C) women D) persons of color 7. When this bridge was completed in 1957, it was the country's longest suspension span over water. What bridge was it? A) Mackinac Bridge B) International Bridge C) Blue water Bridge D) Ambassador Bridge 8. What progressive Michigan governor from the sass was best known for his trademark green and white polka dot bow tie? A) George W. Rooney B) â€Å"Cowboy Kim† Giggles C) G. Men Williams D) William Milliken 9. To take advantage of the rapid suburban growth that was taking place on the outskirts of Detroit, the J.L. Hudson Company in 1 954 opened what was then the world ;s largest shopping center. What was it called? A) Oakland Mall B) Northland C) Fairyland Town Center D) Twelve Oaks 10. Michigan Severe labor shortage during World War II began to ease when nearly 5,000 members of what group arrived and were assigned to work in the state's fields and food processing centers? A) Japanese-Americans who had previously been detained in internment camps in western states like Arizona, Idaho, Utah and Colorado.B) African-American men and women who were encouraged to relocate from southern states like Mississippi, Alabama and Georgia. C) American soldiers who refused to fight for religious reasons (conscientious objectors). D) German and Italian prisoners of war. 1 During World War II, Henry Ford bo asted that his Willow Run Assembly Plant in Ypsilanti would be able to produce one _ every hour. By 1944, the plant was indeed producing at this level. A) Eagle anti-submarine boat B) MM Sherman Tank C) 8-24 heavy bomber D) Jeep 12. Please match each term below with the correct definition.Nickname for the Rev. Martin Luther King Jar. E. â€Å"Black Apostle of Nonviolence† Event that resulted in profiteers who took advantage of the needy by charging SSL . 00 for a 25-cent quart of milk. F. July 1967 riot Event that crippled the Michigan billion-dollar-a-year tourist industry in the U. P. ND northern lower Michigan B. October 1 973 Arab oil embargo Nickname for William G. Milliken D. â€Å"Ghetto Governor' Organization established to bring together community leaders to discuss Detroit problems and plan for its future in the wake of the 1 967 riots.A. â€Å"New Detroit Committee† Phrase coined by American Motors president, George Rooney, to attack U. S. Auto industry's i nsistence on building bigger and heavier cars. C. â€Å"dinosaurs in our driveways† 13. Injure 20, 1943, one of the worst race riots in the U. S. Broke out in Detroit. Over 75% of the city was affected by the rioting. There were 34 deaths, over 700 reported injuries, over 00 fires and more than $2 million in property damage, and at least 1 million man-hours lost in war production. What started the riot?

Costs, perfect competition, monopolies, monopolistic competition Essay

* Total Cost = market value of inputs firm uses in production * Profit = TR – TC * Costs of production = opportunity costs of output of goods and services * Explicit costs = input costs that require outlay of money by firm * i. e. $1000 spent on flour = opportunity cost of $1000 because can’t be spent elsewhere * Implicit costs = input costs that do not require outlay of money by firm * i. e. working as baker at $10/hour, but could be making $20/hour as a computer analyst * Economists include both costs, while accountants often ignore implicit costs * Important implicit cost = opportunity cost of capital. * i. e. use $300,000 savings to buy factory, but could have invested it at interest rate of 5%/year * ? forgone $15,000/year in interest income = implicit opportunity cost of business * i. e. use $100,000 savings and borrow $200,000 from bank * Explicit cost will now include $10,000 paid to bank in interest * Opportunity cost is still $15,000 (OC of $10,000 paid to bank is $10,000 and there is a forgone interest savings of $5000) * Economic profit = TR – TC (including both explicit and implicit costs) * Accounting profit = TR – TEC (total explicit costs). * Consequently, accounting profit is often > economic profit * For economist, business is only profitable if it can cover all explicit and implicit costs Production & Costs * In short run = size of factory is fixed because it cannot be built overnight, but output can be varied by varying the number of workers * In long run = size of factory and number of workers can be varied * Production function: relationship b/w quantity of inputs used to make a good and the quantity of output of that good (short-run) * Marginal product = increase in output that arises from additional unit of input * MP = ? TP/? Q * Law of diminishing marginal product = property whereby the marginal product of an input declines as the quantity of the input increases * Slope of production function (quantity of input vs. quantity of output) = marginal product * Graph become â€Å"flatter† as marginal product decreases (see graph) * Total cost curve = graph w/ quantity produced on x-axis and total cost on y-axis * Graph becomes â€Å"steeper† as quantity of output increases (see graph). * Fixed costs = costs that do not vary with quantity of output produced * i.e. rent of factory, bookkeeper’s salary etc. * Variable costs = costs that do vary with the quantity of output produced * i. e. cost of raw materials, wages of workers (increases as more output produced) etc. * Average Total Cost = TC/Q * Also equal to average fixed cost + average variable cost * Average fixed cost = FC/Q * Average variable cost = VC/Q * Marginal cost = increase in total cost arising from an extra unit of production * MC = ? TC/? Q * Marginal cost rises as the quantity of output produced rises (see graph) Typical Cost Curves * In many firms, MP does not start to diminish immediately after hiring 1st worker * 2nd or 3rd worker may actually have higher MP than first, b/c a team of workers can divide tasks and work more productively than a single worker * AFC, AVC, MC, and ATC will look different for this scenario Costs in the Short Run and in the Long Run. * Division of total cost between fixed and variable costs depends on time horizon * In a few months, GM cannot adjust number/size of factories, only workers * Cost of factories, is therefore, fixed cost in short run * Over several years, however, GM can expand size and number of factories * Cost of factories, is therefore, variable cost in long run * Because fixed costs become variable in the long run, the ATC curve in short run differs from the ATC curve in the long-run * Long-run ATC is much flatter than short-run ATC * Short-run curves also lie on or above long-run curves. * Properties arise because firms have greater flexibility in the long run – can choose which short-run curve they wish to use * In short-run, b/c of diminishing marginal product, increasing quantity of output increases ATC * In long-run, there are situations where ATC does not change with an increase in output * Constant Returns to Scale: long-run ATC stays same as quantity of output changes * Diseconomies of Scale: long-run ATC rises as quantity of output increases . * Often arises because in large organizations, coordination problems arise – difficult to organize and mobilize vast amounts of labour and raw materials * Economies of Scale: long-run ATC falls as quantity of output increases * Often arises because at higher production levels, workers can specialize * Analysis explains why long-run ATC curves are often U-Shaped * Long-run ATC falls at low levels of production b/c of increasing specialization, and rises at high levels of production b/c of increasing coordination problems What is a competitive market? * Perfectly competitive market has two characteristics: (1) many buyers and many sellers in the market, (2) goods offered by various sellers are largely the same * Goal of perfectly competitive markets is to maximize profits * Actions of any single buyer or seller in market has negligible impact on market price * Each buyer and seller takes market price as given * i. e. no single buyer of milk can influence the price of milk because the buyer purchases a small amount relative to the size of the market * Each seller of milk also as little influence on price of milk, because it is selling milk that is virtually identical to the milk of other sellers. * B/c they must accept market price, buyers and sellers in competitive market = â€Å"price takers† * i. e.if a dairy farm doubles its output of milk, the price of milk remains the same, but their total revenue will double * Total revenue will increase because increase in quantity sold, not increase in price * Sometimes, (3) characteristic of competitive market also used – firms can freely enter or exit the market in the long run * Average revenue = total revenue/quantity sold. * AR = TR/Q * For all firms, average revenue equals the price of the good * Marginal revenue= change in total revenue from an additional unit sold * MR = ? TR/? Q * For all competitive firms, marginal revenue equals the price of the good Three general rules of profit-maximization: * If MR > MC, firm should increase its output * If MR < MC, firm should decrease its output * At the profit-maximizing level of output, MR = MC * Remember, because a competitive firm is a price taker, its MR is equal to the market price Note: In essence, because the firm’s marginal-cost curve determines the quantity of the good the firm is willing to supply at any price, it is the competitive firm’s supply curve Firm’s Short-Run Decision to Shut Down * Shut-down refers to short-run decision to not produce anything during a specific period of time b/c of current market conditions. * Exit refers to a long-run decision to leave the market * Firm that shuts down temporarily still has to pay fixed costs, whereas a firm that exits the market saves fixed costs and variable costs * i. e.if farmer decides not to produce crops one season, rent for land becomes sunk cost, but if farmer decides to sell farm altogether, no sunk costs * Firm shuts down if total revenue from production is less than its variable costs of production * Shut down if TR < VC * Alternatively, shut down if TR/Q < VC/Q . * Which means, shut down if P < AVC * On graph, if market price is less than minimum point on AVC curve, firm shuts down and ceases production – firm can re-open if market price changes to be higher than minimum point * Therefore, point at which MC intersects AVC is the â€Å"shutdown price† * If a firm shuts down temporarily, its fixed costs are sunk costs * Firm can safely ignore these costs when deciding how much to produce * i. e. why don’t many restaurants close down at lunch time when they are nearly empty? * Because the fixed costs (rent, kitchen equipment, plates, silverware etc. ) would still have to be paid, only the variable costs (cost of additional food and wages to stuff) would be saved * Owner can make enough profit to cover these variable costs, and therefore, keeps the restaurant open Firm’s Long-Run Decision to Exit or Enter a Market * The firm exits the market if the revenue it would get from producing is less than its total costs * Exit of TR < TC * Alternatively, exit if TR/Q < TC/Q * Which means, exit if P < ATC and enter if P > ATC * Therefore, point at which MC intersects ATC is the â€Å"exit/entry price† Measuring Profits from Graphs * Recall, Profit = TR – TC. * Alternatively, Profit = (TR/Q – TC/Q) x Q * Which means, Profit = (P – ATC) x Q The Supply Curve in a Competitive Market * So far we have examined supply decision of single firm – now examining supply curve of market * Two possibilities – short term = fixed number of firms, long term = firms can enter and exit The Short-Run: Market Supply with a Fixed Number of Firms * In short-run, the number of firms in the market is fixed * As a result, the market supply curve reflects the individual firms’ marginal-cost curves, only with increased magnitude (both graphs same, but market quantity multiplied by some scalar value) The Long-Run: Market Supply with Entry and Exit. * Assume all firms and all potential firms have same cost curves * If firms already in market are profitable, new firms will have incentive to enter the market * Entry if P >ATC because profit is positive (recall, Profit = (P – ATC) x Q) * Entry = expand # of firms, increase quantity of good supplied, and drive down prices and profits * If firms already in market are experiencing losses, firms may exit the market * Exit if P < ATC because profit is negative * Exit = decrease # of firms, decrease quantity of good supplied, and drive up prices and profits * At the end of this process of entry and exist, firms that remain the market must be making zero economic profit * In other words, the process of entry and exist ends only when price and average total cost are driven to equality (P = ATC). * This has a surprising implication—we earlier noticed that firms produce so that P = MC * We just noted that free entry and exist forced P = ATC * The only way this can occur is of MC = ATC, and this occurs only when the firm is operating at the minimum of average total cost—called the â€Å"efficient scale† * ? long-run equilibrium of a competitive market with free entry and exit must have firms operating at their efficient scale * Long-run supply curve (market) will be horizontal at the price which corresponds to the minimum of average total cost * Any P above this level generates profit, leading to entry and increase in total quantity supplied * Any P (price) below this level creates losses, leading to exit + decrease in total quantity supplied * Eventually, number of firms in market adjusts so P = minimum of ATC, and there are enough firms to satisfy all the demand at this price Why do competitive firms stay in business if they make zero profit? * Remember that economic profits are not the same as accounting profits * Economic profit accounts for opportunity cost as well * So, when a firm makes zero economic profit, it may still be making accounting profits A Shift in Demand in the Short Run and Long Run * Because firms can enter and exit more easily in the long run than in the short run, the long-run supply curve is typically more elastic than the short-run supply curve Chapter 15: Monopoly Why Monopolies Arise. * Firm is monopoly if it is sole seller of its product and if its product has no close substitutes * Case of monopoly is barriers to entry: a monopoly remains only seller in a market because other firms cannot enter market and compete with it * Barriers to entry are monopoly resources, government-created monopolies, and natural monopolies Monopoly Resources. * Single firm owns a key resource * i. e. only one well in town and no way to get water from anywhere else * Rarely occurs because economies are large and resourced owned by many people Government-Created Monopolies * Government gives one person or firm exclusive right to sell good or service * Two important examples are patent and copyright laws * Both lead to higher prices than under competition, but encourage desirable behaviour * Drug companies allowed patents to encourage research, and authors allowed copyrights so they write more original books * Monopoly = increased incentive for creative activity, but at a higher cost Natural Monopolies. * Single firm can supply good or service to entire market at lower cost than could 2 or more firms * Occurs when firm has economies of scale over relevant range of output * In other words, firm’s ATC curve continually declines because when production is divided among more firms, each firm produces less, and ATC rises – single firm can produce as smallest cost * i. e. to provide water to town, firm must build network of water pipes – if two firms involved, both would have to pay fixed cost of water pipe, resulting in increased ATC. * Natural monopoly = less concern about new entrants * Normal monopoly’s profits attract entrants to market, but in a natural monopoly, new entrants cannot achieve same low costs that monopolist enjoys * If a market expands (greater demand) natural monopoly can evolve into competitive market Monopoly vs. Competition. * Monopoly can influence market price of output, while competitive firm cannot * As monopoly is sole producer in market, it can alter price of good by adjusting supply to market * Demand curve for competitive market is perfectly elastic (can sell as little or as much as it wants at one price), while down-ward sloping for monopoly * ? monopoly has to accept lower price to sell more output, and can only accept higher price by selling less output – so what price and quantity will it choose to maximize profits? Monopoly’s Revenue * AR = price of good (true for monopoly and competitive), but MR is not equal to price of good. * As a result, average-revenue curve is also monopolist’s demand curve * When monopolist increases quantity sold, has two effects on total revenue (P x Q): 1) the output effect = more output sold, so Q is higher, which trends to increase total revenue 2) the price effect = price falls, so P is lower, which tends to decrease total revenue * Competitive firm as no price effects – price taker, therefore can sell as little or as much as it wants, without any change in price * ? Output/price effect causes monopolist’s MR after first unit sold to always be less than price of the good * Consequently, monopoly’s marginal-revenue curve always lies below its demand curve Profit Maximization * Profit-maximizing quantity of output as determined by intersection of MR and MC curve * Some key differences between monopolies and competitive firms: * P = MR = MC (competitive). * P > MR = MC * In competitive markets, price equals marginal cost, and in monopolized markets, price exceeds marginal cost – crucial to understanding the social cost of monopoly Monopoly’s Profits * Recall, Profit = TR – TC * Alternatively, Profit = (TR/Q – TC/Q) x Q * Which means, Profit = (P – ATC) x Q * Same as in competitive markets Monopoly Drugs vs. Generic Drugs * What happens to price of a drug with patent runs out? * Monopoly firm maximizes profit by producing quantity at which MR = MC, and charging price well above MC * Therefore, when patent runs out, the price of the good falls to MC * Note: MC for drugs is almost always constant. * Monopolist does not lose all market, however, because many buyers remain loyal to brand-name, and therefore, brand-name can still sell at slightly higher price than â€Å"generic brands† Welfare Cost of Monopoly * Monopolies = higher prices than competitive firms = undesirable for consumers = desirable for producers in terms of total revenue * Is it possible that monopoly is desirable from the standpoint of society as a whole? * Recall total surplus measures well-being of buyers and sellers in a market * Producer surplus is amount producers receive for a good – (minus) their costs of producing it * Consumer surplus is consumers’ willingness to pay for a good – amount they actually pay for it * In this case, single producer is monopolist The Deadweight Loss * Consider case of a â€Å"benevolent social planner†. * Social planner care not only about profit earned by firm’s owners, but also benefits received by the firm’s consumers * Planner tries to maximize total surplus, which is producer surplus (profit) plus consumer surplus * Alternatively, value of good to consumers – costs of making the good to monopoly producer * Demand curve reflects value of good to consumers *. Marginal cost curve reflects cost to the monopolist * Consequently, the socially efficient quantity is found were the demand curve and marginal-cost curve intersect * If social planner were running the monopoly, he would achieve efficient outcome by charging the price found at the intersection of demand curve (AR-curve) and the MC curve – much like a competitive market * However, monopolists charge the price found at the intersection of the MC and MR curve * ? the monopolist produces less than the socially efficient quantity of output, and charges more than the socially efficient price * When the monopolist charges a price higher than the marginal cost, some potential consumers value the good higher than the MC but lower than the monopolist’s price * Consumers do not buy the good, and monopoly pricing prevents mutually beneficial trade * The deadweight loss triangle = total surplus lost = reduction in economic well-being from monopoly Is Deadweight Loss a Social Problem? * Not necessarily a problem for society * Welfare in monopolized market includes welfare or both consumers and producers * When a consumer pays extra dollar to producer because of monopoly price, consumer is worse off by a dollar, and producer is better off by same amount * Transfer from consumer to producer does not affect total surplus—sum of consumer and producer surplus * Unless, consumers are for some reason more deserving than producers—a normative judgement about equity that goes beyond realm of economic efficiency. * Problem arises because firm produces and sells a quantity of output below the level that maximizes total surplus Price Discrimination * Business practice of selling the same good at different prices to different consumers * Can occur in a monopoly (firm with market power), not in a competitive market * In competitive market, many firms selling same good at market price—no one would lower market price for any customer as they can sell any given quantity at one price * Increasing price would also be pointless, as customer would simply buy from another firm A Parable about Pricing. * Dry-cleaning example from class – charge adults $10 and charge students $5 with a stdent card * Choosing to forgo market of students at $5 results in deadweight loss because students do not end up putting their shirts into dry-cleaning, though they value the service more than its MC of production * With price-discrimination, however, everyone ends up with a shirt . * Price discrimination can eliminate the inefficiency inherent in monopoly pricing, because differentiating prices allows producer to charge customer price closer to customer’s willingness to pay than is possible with a single price Notes about Price-Discrimination * Monopolist must be able to separate customers according to willingness to pay—either geographically, by age, by income etc. * Arbitrage prevents price-discrimination – process of buying good in one market at a low price and selling it in another market for a higher price * Increased welfare from price-discrimination is all higher producer surplus, not consumer surplus * Adults/students no better off from having cleaned shirts—paid price they were willing to pay * Entire increase in total surplus is a result of higher profits for the monopolist The Analytics of Price Discrimination. Perfect price discrimination = situation in which a monopolist knows exactly the willingness to pay of each customer and can charge each customer different prices accordingly * Monopolist gets the enter surplus in every transaction * Also sometimes referred to as first-degree price discrimination * Refer to diagrams (a) and (b). * (a) firm charges single price above MC, and b/c some potential customer who values good at more than MC does not buy it at this high price, monopoly causes deadweight loss * (b) each customer who values good at more than MC buys good and is charged willingness to pay – mutually beneficial trade takes place, no deadweight loss, and entire surplus derived from market goes to monopoly producer in form of profit * Of course, in real life, price discrimination is never perfect because various customers are willing to pay various different prices – two forms of imperfect price discrimination . * 1) second-degree price discrimination = charging different prices to same customer depending on quantity of product bought * 2) third-degree price discrimination = market can be segmented and segments have different elasticities of demand * i. e. movie theatres charge lower price for children and senior citizens than for other patrons * Makes little sense in a competitive market, where price = MC, and MC for providing seat to child/senior citizen is same as anyone else. * If movie theatre has local monopoly, however, price-discrimination has motives * Demand curve for adults is less elastic, therefore can charge higher price, whereas demand curve for children/seniors is more elastic, therefore can charge lower price * How does imperfect price discrimination affect welfare? * Compared to monopoly outcome with single price, imperfect price discrimination can raise, lower, or leave unchanged total surplus in a market—however, always raises monopoly’s profits Examples of Price Discrimination * Airline Prices – charge less if stay over Saturday night or purchase two weeks ahead to separate personal travellers, from business travellers, who pay more * Discount Coupons – rich, busy executive will not clip coupons, whereas a unemployed individual will, allowing price discrimination * Financial Aid – separate wealthy students willing to pay high tuition from less well-off students * Quantity Discounts – bulk is cheaper because customer’s willingness to pay for an additional unit declines as the customer buys more units Public Policy towards Monopolies. * Monopolies fail to allocate resources efficiently * Produce less than socially desirable quantity of output * Charge prices above marginal cost Policymaker’s Response * Increasing Competition with Competition Law – for example, mergers * Regulation – natural monopolies not allowed charging whatever price they want, but what price should government set of a natural monopoly? * One might conclude set P = MC, so customers equal quantity of output that maximizes total surplus, and allocation of resources is efficient * However, natural monopolies always have declining ATC ? MC < ATC, if P = MC, then P < ATC, and firm loses money and exits industry * Government can subsidize monopolist and pick up losses inherent to MC-pricing, but would need to raise money through taxation for subsidy, and taxes have own deadweight loss * Alternatively, regulators can allow monopolist to charge price higher than MC, and if regulated P equals ATC, monopolist earns exactly zero economic profit * Yet, average-cost pricing leads to deadweight losses b/c monopolist’s price no longer reflects MC or producing good * Ultimate problem with MC- and AC-pricing is it gives monopolist no incentive to reduce costs—normally reduce costs to increase profits, but in these cases, monopolist will not benefit * Solution: keep some benefits from lower costs in form of higher profit, and practice something that is a small departure from MC-pricing. * Public Ownership—government owns natural monopoly instead of private firm * Doing Nothing—degree of â€Å"market failure† in economy smaller than â€Å"political failure† in gov’t Differences and Similarities | Competition| Monopoly| Similarities| Goal of firms| Maximize profits| Maximize profits| Rule for maximizing| MR = MC| MR = MC| Can earn economic profits in short run? | Yes| Yes| Differences| Number of Firms| Many| One| Marginal Revenue| MR = P| MR < P| Price| P = MC| P > MC| Produces welfare-maximizing level of output? | Yes| No| Entry in long run? | Yes| No| Can earn economic profits in long run? | No| Yes| Price discrimination possible? | No| Yes| Chapter 16: Monopolistic Competition. * Oligopoly: market structure in which only a few sellers offer similar or identical products * Concentration ratio: percentage of total output in market supplied by four largest firms * Monopolistic competition: market structure in which many firms sell products that are similar but not identical—following qualities: * Many sellers ? firms competing for same group of customers. * Product differentiation ? downward-sloping demand curve * Free entry and exit ? market adjusts until economic profits driven to zero Monopolistically Competitive Firm in the Short Run * Products are different ? faces downward-sloping demand curve * Same profit maximization rule as monopoly (Q at MR = MC and equivalent P on demand curve) * Identical to monopoly The Long Run Equilibrium. * When firms make profit in the short-run, new firm have incentive to enter the market * Demand curve shifts to left (reduces demand of each individual firm) * As demand for firms’ fall, firms experience declining profit * Conversely, when firms incur losses in short-run, firms exit * Demand curves shift to right (demand experienced by individual firms increases) * As demand for firms’ products rises, firms experience rising profit. * Entry/exit continues until firms in market make zero economic profit (P = ATC) * Demand curve is tangent to ATC (just touching, never crossing) * Characteristics of long-run equilibrium in monopolistic competition * As in monopoly market, P > MC (for profit maximization, MR = MC, and downward-sloping demand curve makes MR < P) * As in competitive market, P = ATC (free entry and exit drive economic profit to 0) Monopolistic vs. Perfect Competition Excess Capacity. * Entry and exit drive each firm in monopolistically competitive market to point of tangency between demand and ATC curves * However, this means quantity produced is less than that produced at the â€Å"efficient scale† –quantity that minimizes ATC (point at which MC intersects with ATC) * Perfectly competitive firms produce at the efficient scale * Monopolistically competitive firms therefore have excess capacity—they are not producing as much as they potentially can * Firm forgoes opportunity to produce more because it would need to cut prices to sell the additional output * More profitable to continue operating at excess capacity Markup over Marginal Cost. * Relationship between Price and Marginal Cost also different * Competitive firm, P = MC * Monopolistic competition, P > MC, because it must be for P = ATC * This leads to behavioural differences b/w perfect and monopolistic competitors * Perfectly competitive firm does not care for additional customers because P = MC, profit from extra unit sold is always zero * By contrast, monopolistically competitive firms P > MC, therefore, extra units sold = more profit Monopolistic Competition and Welfare of Society * One source of inefficiency is that P > MC * Some consumers who value good at more than MC, but less than P will not buy the good * ? deadweight loss similar to that of monopoly pricing * Another source of inefficiency is: 1) Product-variety externality: b/c consumers get some consumer surplus from introduction of new product, entry of new firm conveys +ve externality on consumers 2) Business-stealing externality: b/c other firms lose customers and profits from entry of a new competitor, entry of new firm imposes negative externality on existing firms * Perfectly competitive firms produce identical goods and charge P = MC, therefore neither externality exists under perfect competition * ? Monopolistically competitive markets do not have desirable welfare properties of perfectly competitive markets because it is not ensured that total surplus is maximized * Also very difficult to control these inefficiencies through public policy Advertising * Amount of advertising depends on products * Firm that sells highly differentiated consumer goods i. e.soft drinks, will need to advertise more than seller of undifferentiated industrial nails, or homogenous products like wheat * Some people critique advertising for convincing people that products are more different than they actually are, fostering brand loyalty and encouraging consumers to ignore price differences * With less elastic demand curve, firm charges larger markup over MC. * Support for brands suggests that brands provide consumers with information about quality of goods, and gives firms incentive to maintain high quality to protect reputation of brand names * Others believe encourages competition as it makes customers better informed about products * Advertising can signal quality of product as well, because firm willing to spend money on advertising must be creating a good product.

The Strategic Manager Assignment Example | Topics and Well Written Essays - 2500 words

The Strategic Manager - Assignment Example This is the three aspects that can be described as ‘layers’ of the business environment, which surrounds the organization. Macro-environment is said to be the most influential aspect of the environment that surrounds any organization. It comprises of the factors that impact to a greater or lesser extent on almost all organizations. Changes in macro-environment can have a negative or positive influence on an individual organization. The most commonly used framework that is used to analyze the macro-environment of an organization is referred to as PESTEL, which identifies the future trends of an organization in terms of political, economic, social, technological, environmental and legal environment. Strategies will have to change depending on how a business organization adopts to certain changes in macro-environment. A strategic manager will have to alter a strategy if a factor in macro-environment such as technology changes in the future. The other ‘layer’ within the broad environment of business organization after macro-environment is the industry or a sector. An industry is a group of organization producing the same products or services. A strategic manager can use Porter’s five forces framework and cycle of competition concept to understand how the competitive dynamic around and within an industry are changing from time to time. Porter’s five forces framework was established to assess the attractiveness (profit potential) of different industries. A strategic manager can use this framework to identify the source competition in an industry or sector. These forces are very important to analyze the competitive environment that surrounds a business organization, it should be however be noted that the five forces are not independent since pressure in one direction can trigger off changes in a dynamic process of shifting source of competition. Competitors and market are the next immediate layer

Education Assault on Indian Children Essay Example | Topics and Well Written Essays - 250 words

Education Assault on Indian Children - Essay Example The educational assault on Indian children came in the form of off-reservation boarding schools, which aimed to totally cut off the Indian youth from what colonials thought as the â€Å"contaminating† influences of their Indian culture (Calloway, 2012, p.426). To ensure the success of these boarding schools, attendance was â€Å"mandatory,† and parents who did not send their children to these schools were punished by not receiving their rations and annuities (Calloway, 2012, p.426). The policies in these schools advocated military-style discipline and teaching. Standing Bear, a Lakota, remembered the discomfort of wearing Western clothing and enduring monotonous routines that taught habits and values that fit the American ideas of social norms (Calloway, 2012, p.428). Loneliness and sicknesses prevailed in these schools, where some Indian youths committed suicide, while the youngest ones succumbed to illnesses (Calloway, 2012, pp.429-430). Furthermore, Indian boys and g irls were prepared for their future low-skilled jobs, where boys learned vocational skills and girls learned domestic duties (Calloway, 2012, p.426). Moreover, the teachers taught the Indian youth about American patriotism, racial inferiority of the Indians, and a history where Indians had little to no role in its making (Calloway, 2012, p.426). â€Å"Sioux School Experiences† talked about the resistance of the Indians against assimilation (Calloway, 2012, p.457). Plenty Horses killed a white man and justified it because of his loneliness and his Indian identity (Calloway, 2012, p.457). He showed his rage against unjust Indian policies through his murder, which was a single incident compared to the repeated murders of Indians across centuries. Standing Bear and Red Bird adopted American language and ways, but remained Indian. They fought for Indian rights and equality throughout their lives through writing and publicly

Various organizational police functions (local, state, federal) Essay

Various organizational police functions (local, state, federal) - Essay Example Local police officers: apprehend violators; preserve peace; prevent crime; enforce the law; protect human life and property; and serve the public (Johnson and Cox III, 2004). According to Shane (2010), the functions above differ from one another hierarchically [roles and powers are assigned to these levels hierarchically]. Federal police agencies enforce particular types of federal laws, state officers enforce state laws, and local police officers operate at the county level. In respect to the foregoing, a federal agent has jurisdiction over the entire country, while a local police agent has his jurisdiction limited to his town, city or county. A state police agent has jurisdiction over an entire state. There is no better solution to the way the present law enforcement system operates at each level because the hierarchical arrangement of the security systems allows for systematic distribution of roles and duties, and thereby helping extirpate confusion and superimposition of roles. Likewise, with this current system, law and order can be effectively and efficiently discharged, since there is flow of hierarchy. For instance, federal agencies such as the FBI can easily apprehend a criminal by acting on reports from state

MEDICAL ERROR AND PREVENTION Research Paper Example | Topics and Well Written Essays - 750 words

MEDICAL ERROR AND PREVENTION - Research Paper Example This followed a declaration made in 2007 by the Federal Centre for Medical and Medicaid services (CMS) denying settlement of Medicaid funds for treatment of preventable errors (Armitage, 2009). This paper explores sources of medical errors and their prevention among heath workers. According to the Quality Interagency Coordination Task Force, a medical error is â€Å"the failure of an intended action to be accomplished as planned or use of an incorrect plan to achieve an aim† (Armitage, 2009). Thus, errors can result from wrongful practice, procedures, products, or systems applied by a health professional or institution on a patient. This definition of medical errors define the three dimensions of patient’s safety namely error prevention, visibility of errors and effect mitigation. Medication errors occur most commonly in administering prescribing (U.S. Department of Education, 2011). Common errors include: There are two classes of medical errors namely active and latent errors. Active errors occur at individual level and, have instant results while latent are errors results from system or operation failure. Thus, the effects of a latent error may not be visible immediately but have long-term impacts on the society. Emotional Status – Emotional reactions such as anger, anxiety, boredom and fear often interferes with workers performance leading to medical errors. Emotional responses may result from over-work or negative attitudes. Hard-to-read handwriting- Medical workers have the most illegible handwriting, which contributes to medical errors. Fortunately, automated medication ordering has reduced the problem especially on prescription. Surgical errors have adverse effects on patients and, often lead to loss of life. They occur due to wrongful procedures, inappropriate sites, or surgical personnel. Studies conducted in Utah and Colorado hospitals indicated that surgical errors accounted for nearly 75% of observable medical

Argumentative Analysis Essay Example | Topics and Well Written Essays - 1000 words

Argumentative Analysis - Essay Example Starting with the hypothesis of having unlimited time, Marvell tells the woman in the poem that he would take forever to love her. He tells her that her refusal would not matter then, even if she refused â€Å"Till the conversion of the Jews† (Marvell), because he would have ample time to win her affections – time being infinitely available to him. Moreover, Marvell states, he would have taken to just praise the lady and her magnificent attributes. However, he soon comes back to reality, telling the lady that in actuality such timelessness is not available to them both. Thereby, Marvell â€Å"reverses his logic and tries to make the real world with limited time seem problematic and even repulsive to the mistress† (Stephens 1).  With this repulsion for time lost, Marvell points out the logical that they should take the opportunity now, when they have the chance and the time, to love each other. Marvell says that as they do not have a say in how this world operat es, with regard to time, they do have a choice as to how they live their life, in his own words, â€Å"Thus, though we cannot make our sun / Stand still, yet we will make him run† (Marvell). Although the poem is based around a sexual premise – a man asking his mistress to make love to him – the underlying theme of Marvell’s work is simply this: we are time-bound beings, and if we do not make the most of what we have today, we will not only waste the opportunities afforded to us, but we shall also regret our passiveness later on. As he says, â€Å"The grave’s a fine and private place, / But none, I think, do there embrace† (Marvell), i.e. when an opportunity is lost forever, you cannot get it back. Certainly, we are limited beings, forced to follow the laws of nature. The passage of time is one such law of nature we cannot overcome or change. We are, all of us,

Compare between Russia and America in Economic Essay - 1

Compare between Russia and America in Economic - Essay Example Apparently, with the advancement and reform in the environmental domain, nations’ were engaged in providing effective means of production and distribution to earn high competitive advantages. Thus, overall the concept of economic elaborates the process through which, the nation produces and distributes goods and/or services in a community for its all round development. Moreover, economics is identified as a widely extended concept, which is further sub-divided into different aspects including micro and macroeconomics. It is these distinctions made through the economic behavior of a country that indicates the underlying causes of why a nation performs better than the other or vice-versa (Stanford, â€Å"Economics for Everyone: On-Line Glossary of Terms & Concepts†). These underpinnings of economic assumptions can be better understood through the comparison of two economies, as is intended for this study. The two economies considered herewith are the American and the Russian economies. America, as an economic power, is often regarded one of the most technologically powerful nations, hosting a strong foundation of private businesses. Its skilled labor pool has also been one of the key drivers of its growth. Besides, the businesses in the US hold high level of flexibility in taking the key decisions concerning sustainable growth, which has further contributed towards the overall strengths of the economy (OECD, â€Å"OECD Economic Surveys: Russian Federation†; â€Å"OECD Economic Surveys: United States†). On the other hand, Russian economy had to undergo significant changes and reforms following the collapse of Soviet Union that in turn helped the economy become intensively market based. The reforms Russia had to witness during the ea rly 90’s of privatization have led to significant alterations in its economic model overall (OECD, â€Å"OECD

Pakistan and Policy Essay Example for Free

Pakistan and Policy Essay National integration is unity in diversity. It means a feeling of oneness. It implies social, political, economic, linguistic and cultural unity. It is the development of a mental climate that would help reacts in terms of oneness, irrespective of the region, language or religion of the people concerned. It means a heaven of freedom where the world has not been divided into fragments by narrow domestic wells. It is based on feeling of oneness, common ideals of life and a common code of behavior. It implies confidence in nations future, deep sense of values and obligation of citizenship, mutual understanding and respect for the culture of different sections of the nation. Need for National Integration National integration is the feeling that binds the citizens of a country. Its aim is to put individuals best efforts for the optimum growth, prosperity and welfare of the country as a whole. It does away with inter-state, inter-linguistic, inter-religious and inter-cultural differences. It promotes a spirit of tolerance and respect for the view-point of other cultural groups. To Kanungo, Every country at every time needs national integration but India needs it the most. Indias passing through a critical period these days. The integrity of India is in danger. Therefore Indians will have to act carefully. In India national integration is needed due to following reasons: Threat of Foreign Aggression National integration is vital for Indias survival especially at a time when the country is under the threat of foreign aggression and internally the people are divided on the basis of castes, religions, regions, communities, languages and Races For the Development of National Character National integration is an essential element for the development of national character. These days there is lack of national character. Corruption is increasing day-by-day. We are sacrificing national interests for the sake of money. National character can be formed only when we have the feeling of national integration. For Success of Democracy India is a democratic country. National integration is an essential pre-requisite for the success of our democracy. It is a basic need for the success of democracy; otherwise, the fissiparous tendencies in the country may lead to serious consequences. For Diversity National unity is essential for any country at any time. There is unity in diversity in India but now unity is in danger. Therefore, national unity is essential in order to maintain the eternal value of unity in diversity. For Peace National integration is essential for keeping peace at national and international level. Modern age is the age of science. It has changed the whole world in a family. Every nation is dependent on one another. Therefore, scientific achievement should be used for constructive work in order to provide peace to humanity. This feeling can develop only when we have the thought of national integration.

Beer Wars Essay Example for Free

Beer Wars Essay Beer Wars is documentary about the American beer industry and how the 3 largest US breweries try to drive out the competition. This documentary covers how lobbyists are used to control the beer market and drive out smaller breweries such as Dogfish Head Brewery, Stone Brewery, and Moonshot: all producers of craft beer. The documentary describes how a 3 tier system was put into place to separate the powers of selling beer and prevent a monopoly but the laws that were put into place to prevent the monopoly, infact, promoted the size and strength of the largest beer corporations. An oligopoly was formed and maintained between Anheuser Busch, Coors, and Miller. Porter’s Five Forces Model is a business strategy that was covered in Beer Wars. Anat Barron described how difficult it was for small craft beer makers to be new entrants to the beer industry. When Anheuser Busch felt the least bit threatened, they had the capital and access to distribution channels that the smaller breweries did not have. The craft breweries found it greatly difficult to compete with the big 3 because they were not a substitute for the Big 3’s product, they were a small competitor. Anheuser Busch controlled the bargaining power because they were able to keep prices down due to their size and pockets while small craft breweries had to be more expensive because of the quality and care that went into it on top of having to pay a higher rate for ingredients compared to the other large corporations. To cite an example of the deep pockets that the big 3 had, Anheuser Busch came out with beer with caffeine in response to Moonshot beer, which was a craft beer (and the first of it’s kind). It can be viewed as theft but they had the pockets to Moonshot out. They targeted the bars and stores that carried Moonshot and gave them free cases of Anheuser Busch’s version of Moonshot beer. Though illegal some bars took it because it was free and busch had better prices to drive moonshot out. The intensity of competitive rivalry was at an all-time high when it came to Anheuser Busch trying to weed out the smaller breweries. The big 3 breweries managed to control the market share through advertising on tv , sponsorships, and on the store shelves through strategic placement of their product. The three tier system that separates the powers of selling beer delves into how lobbyists are used to control the beer market. Anheuser Busch uses their deep pockets to get rid of competition from small craft beer makers and control consumer choice. They purchase other beer corporations. Although only touched upon briefly towards the end of the film, Anat touched upon how Coors and Miller had to go into a 50/50 joint venture to compete with Anheuser Busch. Coors and Miller scanned the beer environment and realized that they could not keep a myopic view and hope for things to turn around. They knew that in order for each to survive, they needed to join forces. They were easier for Anheuser to take out individually but stronger as a whole.

Financial Failure Company

Financial Failure Company Advantages disadvantages of Altman Z score Argenti A score model for predicting company failure which is useful to different groups in society and extent to which these models rely on published financial statements. The financial failure of a company can have a devastating effect on the all seven users of financial statements e.g. present and potential investors, customers, creditors, employees, lenders, general public etc. As a result, users of financial statements as indicated previously are interested in predicting not only whether a company will fail, but also when it will fail e.g. to avoid high profile corporate failures at Enron, Arthur Anderson, and WorldCom etc. Users of financial statements can predict the financial position of an organisation using the Altman Z score model, Argenti model and by looking at the financial statements i.e. balance sheet, income statements and cash flow statements. Megginson Smart (2006, p.898, para3) defined business failure as the unfortunate circumstance of a firms inability to stay in the business. Business failure occurs when the total liabilities exceeds the total assts of a company, as total assets is consider a measure of productivity of a company assets. This essay looks at the pro and cons of models in predicting corporate failures in order to measure the financial position of the company. Neophytou, Charitou Charalambous (2001) identified reasons for business failure as i.e. high interest rates, recession squeezed profits, heavy debt burdens, government regulations and the nature of operations can contribute to a firms financial distress. The traditional analysis of financial ratios has been widely used in disclosing of operative and financial difficulties of an organization. Traditional ratio analysis allows the users of financial statements to understand the firms performance when placed in environment e.g. the firms previous performance, existing economic climate etc. However, the ratio analyses is a good indicator to measure the performance but sometimes, it is hard to achieve the required result due to different accounting policies, resulting in difficult to analyse the company performance based on only an individual ratio. Liquidity or working capital ratios are the foundation for analysis of potential corporate failure, which is significant to investors as the y wish to know whether additional funds could be loaned to the company with reasonable safety and whether the business is able to return back the interest and the principal itself. Business failures can be predicted by approaches like Z score and A score models, using a number of financial variables. Megginson Smart (2006, p.914, para1) defined Z score as the product of a quantitative model that uses a blend of traditional financial ratios and a statistical technique known as MDA. Altman (1968) used multiple discriminant analysis (MDA) in the effort to find a bankruptcy prediction model. Altman (1968) combined five ratios to produce Z score. Elliott Elliott (2006) states that companies with a Z score of 2.7 or more indicated as non failure or a going concern and firms with a Z score of 1.8 or less indicated as failure. Z score is between a grey area. Altmans Z score is found to be about 90% accurate in forecasting bankruptcy one year in the future and about 80% accurate in forecasting in two years in the future. Resultantly, Altman Z score model is useful for the management of the company to improve the potential ability and also helps the users of the financ ial statements to make essential economic decisions. The users of financial statements use Z score model in order to assess the financial position of the company e.g. shareholders of a firm may use Z score to provide an early warning signal of failure i.e. to evaluate the degree of risk attached to the investment. Customers of the company may be interested in the future supplies of the product and services. If the Z score is negative, it shows that the business is at risk and customers might opt for alternative products. In the last decade, the usefulness of financial ratios for decision making has been paid increasingly attention, due to the fact that if the business fails the investors, employees, lenders, creditors etc. may all suffer the loss. Elliott Elliott (2006, p.703, para2) pointed out that the Z score analysis can be employed to rise above some of the limitations of traditional ratio analysis as it assess corporate stability and more significantly predicts potential case of corporate failures. However, Altman Z score model also have some disadvantages. Pike and Neale (2003) state that the Z score model is based on the historical financial data, which is a big problem in making economic decision making because some of the present circumstances can be different from the past. Also, some of the accounting policies used by companies which makes it difficult to get the required result from the Altman Z score model. In other words, we can say that corporate failure models relate to the past i.e. without taking into account the current state of the macroeconomic environment e.g. the level of inflation, interest rates etc. The publication of accounting data by companies is subject to a delay, failure might occur before the data becomes available. These failure models share the limitations of the accounting model including the accounting concepts and conventions on which they are based. Regan (2002) also identified various limitations of the Z score model i.e. use of historical dat a which is consistent with findings of Pike and Neale (2003). Also, Regan (2002) stated that there is lack of conceptual base in Z score model and lack of sensitivity to time scale of failure i.e. time factors may not be fully taken into account. Other limitation of Z score model is that it does not provides the theory to explain bankruptcy, it only check the financial position of the company and not the fact that how to recover from this financial distress. (Taffler and Agarwal, 2007) Argenti A score model is also a well known approach for predicting corporate failures use by various users of financial statements. Sori, Hamid and Nassir (2004) pointed out the identification of potential failures can be done through a qualitative approach e.g. Argenti failure model (1976). They stated that a qualitative approach usually examines the non-financial variables such as type of management, the number of active shareholders, the availability of effective accounting information systems and also the levels of gearing in different economic situations. Elliott Elliott (2006, p.706, para1) states that Argenti developed a model to predict the likelihood of company failure. This model is based on calculating scores for a company based on three stage events i.e. defects of the company, management mistakes and the symptoms of failure. In calculating company A score, different scores are allocated to each defect, mistake and symptom according to their importance. The defect exists in the organizations top management which rises due to accounting systems and wrong decisions. Management fault can lead to company failure which is high geared, over trading etc. Due to these defects and mistakes, symptoms of business failure will started to rise. Various symptoms include high staff turnover, delayed management decisions etc. If a company achieve a overall score of over 25 or a defect score of over 10, or a mistake score of over 15, then the company is showing classic signs leading up to failure. However, a business is understood to be a going concern if the overall score of the company mistakes and defects below 18 (Elliott Elliott, 2006). A score model is the best tool to analyze the management performance and non financial procedure to predict the corporate failures. There are also some limitations of Argentis model. The financial health of an organization cannot be explained by specific financial indicators e.g. liquidity, return on investment, profit etc. The existence of management errors in different failure paths is also not totally clear, resulting in little differences between them (Ooghe and Prijcker, 2007). There is also no proper rule to calculate the points of defects, mistakes and symptoms which give a rise to situation that A score model is complex but Z score model provides a exact figure to predict the corporate failures (Elliott and Elliott, 2006). In conclusion, this essay looks at different approaches i.e. Z score, A score to predict companies failures and their pro and cons in relation to economic decision making. Users of financial statements rely on true and fair view of these statements, so they can get an idea of the financial position of a company because of the fact that investors are interested in their returns plus dividend, employees are interested because of the job security and bonuses etc. The traditional ratio analysis is an excellent indicator but it cannot make all decisions single handily. Z score model is based on ratios, which are based on accounting information. Z score model reduces the risk for the investors, creditors, customers, lenders etc. and enable the management of the company to increase profit levels, productivity and shareholders wealth. Altman Z score model is the best approach to predict corporate failure because it gives an exact benchmark for decision making. (Elliott and Elliott, 2006). Ho wever, publishing poor Z score of an company can also have devastating effect on the business itself as investors might withdraw the investment in the business which might result in its financial collapse of the company. Argenti A score model is a good approach to measure the managers performance that shows the success or failure of a company. Corporate failures are common in competitive business environment where only the fittest company has a guarantee to survive in the market discipline. The financial distress on a company and its management can have an intense effect on how the firm behaves and how its investors, suppliers and customers see it. When a company is in financial distress, suppliers are reluctant to extend credit and customers are concerned about future supplies, warranties and after sales services. If a company has a support of its shareholders, then the company has more chances to survive especially in this subprime mortgage crises and credit crunch era. Both the qualitative and quantitative information are important in identifying financially distressed firms e.g. the financial information, share price, bank debts which also are the important distressed signals for potential failures. Predicting variables other than financial ratios may prove beneficial for the company e.g. management skills experience and other behavioural aspects that have an impact on the day to day running of the firm, could be significant in a bankruptcy prediction model. References Altman, E. (1968), Financial ratios, discriminant analysis and the prediction of corporate bankruptcy, Journal of Finance, Vol. 23 No. 4, September, pp. 580-609. Argenti, J. (1976) Corporate Collapse: The Causes and Symptoms, London: McGraw-Hill. Elliott, B and Elliott, J. (2006) Financial Accounting and Reporting, 10th edition, Prentice Hall, FT. Megginson, W., and Smart S. (2006), Introduction to Corporate Finance, Thomson Learning. Neophytou, E., Charitou, A., Charalambous, C., (2001). Predicting Corporate Failure: Emprical Evidence for the UK. Discussion Paper No. 01-173, March 2001, School of Management: University of Southampton, UK. Ooghe, H., and Prijcker S., (2007), Failure processes and causes of company bankruptcy: a typology, Working paper. Pike, R. and Neale, B. (2003) Corporate Finance and Investment: Decisions and Strategies, 4th edition: Prentice Hall Regan, OP (2002), Financial Information Analyses, John Wiley Sons. Taffler, J.R. and Agarwal, V (2007) Twenty-five years of the Taffler z-score model: does it really have predictive ability? Accounting and Business Research, 37(4), p. 285 Sori, Z., Hamid, M., and Nassir, A., (2004), Perceived failure symptoms: evidence from an emerging capital market.

The Expatriates of the 1920s :: American America History

The Expatriates of the 1920's 1ex†¢pa†¢tri†¢ate- 1: to withdraw (oneself) from residence in or allegiance to one's native country 2: intransitive senses: to leave one's native country to live elsewhere; also: to renounce allegiance to one's native country Merriam-Webster Dictionary Nothing before, or since has equaled the mass expatriation of the 1920's. It was as if a great draft of wind picked up these very peculiar people and dropped them off in a European life style. Europe and the rest of the world were beginning to see a large population of these American expatriates. "... the younger and footloose intellectuals went streaming up the longest gangplank in the world." (Cowley 79) Along with the intellectuals went the wealthy à ©lite, the recent college graduates, the art students, and the recent war veterans aptly called "The Lost Generation". Although many went all over the world, the largest density of these expatriates was in France. "Indeed, to young writers like ourselves, a long sojourn in France was almost a pilgrimage to the Holy Land." (Cowley 102) Many expatriates flocked to Paris to follow forerunners in the movement such as Ezra Pound and Gertrude Stein. Most of the expatriates wished to have an introduction to Gertrude Stein at her apartment. There they would discuss art, literature, and the ideals of America for hours on end. Gertrude Stein characterized the expatriates' view of America when she said, "America is my country, and Paris is my home town". (Stein) This idea, of having a place that you consider your home, but not your homeland, is the basis of the expatriate movement. The writing of this era was influenced by a few things. With the new ideas of America, there also came much criticism of it to. After World War One, many Americans became somewhat dissatisfied with the way that their own country's people and leaders acted. This was also a catalyst in the massive expatriation that occurred. Also, it is speculated that many war veterans could have developed various and unknown disorders caused by the type of warfare in which they had taken part. The optimistic culture of The Roaring Twenties also could have been a factor in the attitudes towards America and the writing that developed from it. Through a close study of the Expatriates, I will propose this list of probable influences towards the attitudes and writing that occurred. 1.) World War One, and the physical affects that it created among American and European Citizens.

Television and Censorship - Violence Rating System Needed for TV Essay

Violence Rating System Needed for TV Programs While society recognizes the detrimental effects of general television on children, parents and other child advocacy groups don't feel as though there is an adequate rating system. Consequences of ineffective rating systems are that children's personalities are being negatively affected. The Federal Communications Commission (FCC) has made legislation to address this issue, but the children's advocacy community is still dissatisfied. This community includes The National PTA, the American Psychological Association, The Center for Educational Priorities and other child advocacy groups. Current discussions include the government and FCC's disregard for parent's feedback on current ratings systems, the violence chip's effectiveness as a simple solution and the current movie-based ratings system. Educational shows like Sesame Street significantly increase general school readiness skills, but the average American child is exposed to 25 hours of television each week and parents demand a sys tem they feel accurately evaluates all television shows. As part of this legislative process for Telecommunications Act of 1996, Public Law 104-104, statistical research on television's effects was done. For example in 1972, the Surgeon General reported that evidence shows a link between television violence and aggressive behavior (APA 1998). The American Psychological Association goes on to say that these lawmakers aren't responsive enough to feedback done by parent groups. They contend that the government isn't active in enforcing or defining the phrase "educational and informational"(CEP 1997). This results in the entertainment industry gaining profit by continuing to increase detrimental conten... ...~burniske/utopia98/student/causal/smith/www.pta.org accessed October 11, 1998. Center for Educational Priorities "Telecommunication Act of 1996" available online. http://www.cwrl.utexas.edu/~burniske/utopia98/student/causal/smith/www.cep.org accessed October 15, 1998. Center for Media Education "Children's Television Act Toolkit" available online. tap.epn.org/cme accessed October 28, 1998. Children Now Organization "Summary of Key Differences Between V-Chip Rating Systems" available online http://www.cwrl.utexas.edu/~burniske/utopia98/student/causal/smith/www.childrennow.org accessed October 26, 1998. Jeremy Craig. "Understanding the Ratings System" Children Now Organization. Available online. (c)1997,1998. http://www.cwrl.utexas.edu/~burniske/utopia98/student/causal/smith/www.childrennow.org/current_action_alert.html> accessed October 11,1998. Television and Censorship - Violence Rating System Needed for TV Essay Violence Rating System Needed for TV Programs While society recognizes the detrimental effects of general television on children, parents and other child advocacy groups don't feel as though there is an adequate rating system. Consequences of ineffective rating systems are that children's personalities are being negatively affected. The Federal Communications Commission (FCC) has made legislation to address this issue, but the children's advocacy community is still dissatisfied. This community includes The National PTA, the American Psychological Association, The Center for Educational Priorities and other child advocacy groups. Current discussions include the government and FCC's disregard for parent's feedback on current ratings systems, the violence chip's effectiveness as a simple solution and the current movie-based ratings system. Educational shows like Sesame Street significantly increase general school readiness skills, but the average American child is exposed to 25 hours of television each week and parents demand a sys tem they feel accurately evaluates all television shows. As part of this legislative process for Telecommunications Act of 1996, Public Law 104-104, statistical research on television's effects was done. For example in 1972, the Surgeon General reported that evidence shows a link between television violence and aggressive behavior (APA 1998). The American Psychological Association goes on to say that these lawmakers aren't responsive enough to feedback done by parent groups. They contend that the government isn't active in enforcing or defining the phrase "educational and informational"(CEP 1997). This results in the entertainment industry gaining profit by continuing to increase detrimental conten... ...~burniske/utopia98/student/causal/smith/www.pta.org accessed October 11, 1998. Center for Educational Priorities "Telecommunication Act of 1996" available online. http://www.cwrl.utexas.edu/~burniske/utopia98/student/causal/smith/www.cep.org accessed October 15, 1998. Center for Media Education "Children's Television Act Toolkit" available online. tap.epn.org/cme accessed October 28, 1998. Children Now Organization "Summary of Key Differences Between V-Chip Rating Systems" available online http://www.cwrl.utexas.edu/~burniske/utopia98/student/causal/smith/www.childrennow.org accessed October 26, 1998. Jeremy Craig. "Understanding the Ratings System" Children Now Organization. Available online. (c)1997,1998. http://www.cwrl.utexas.edu/~burniske/utopia98/student/causal/smith/www.childrennow.org/current_action_alert.html> accessed October 11,1998.

How Much Is the Effect of Acid Rain Environment? Essay

Acid rain is mixed with certain chemicals, including Hydrocarbons. Nitrogen Oxides are created naturally from bacteria, volcanoes and lightening. From the burning of fossil fuels we get chemicals like Sulphur Dioxide, Sulphur Trioxide and Carbon Dioxide. When Carbon Dioxide is mixed with water we get Carbonic Acid. When Nitrogen Oxides are mixed correctly with water it can create Nitric Acid. When Sulphur Dioxide is mixed with water it creates Sulphurous Acid. And when Sulphur Trioxide is mixed with Sulphur Dioxide and water it can create the lethal Sulphuric Acid. Ozone Depletion also impacts on this as its releasing CFC’s which then add to the impact from acid rain. Â  Acid rain can corrode metal structures such as railway tracks and overhead power cables. It can also erode cement, marble and especially limestone buildings. It can take a longer time in some cases due to what the material is, but the evidence is shown a lot of most buildings. Acidic water affects the growth and health of fish and other aquatic life, by reducing the pH of the water and impacting the health and breeding success of the fish and aquatic invertebrates. Death of aquatic organisms due to damaged exoskeleton development as the calcium compounds become more soluble. So there is less calcium in the food chain (for fish bones and birds egg shells). PH5 mucus on fish gills, pH4 species decline. It also dissolves metals out of sediments and rocks to increase the metals (lead) in the water. These can be taken up by the plants and contaminate the associated seeds or fruit. Phytotoxicity is a toxic effect by a compound on plant growth. Such damage may be caused by a wide variety of compounds, including trace metals, pesticides, salinity, phytotoxins or allelopathy as acids damage enzyme function cells in stomata, root hairs. Seed germination is inhibited by acidic conditions. Lichens are especially sensitive to acids. Osmosis, in the water, will affect the aquatic life as well as respiration in the fish themselves, it can harm them. Acid rain impacts crop growth and soil structure. It can affect the growth of plants as many plants have a specific soil pH for optimum growth. In addition it can leach nutrients out of the topsoil, into the groundwater and into the water table. The leaching of nutrients from the soil makes them unavailable to plant life. Acid precipitation can change the ionic balance in clayey soils, affecting their structure. The pollutants that cause acid rain, sulphur dioxide and nitrogen oxides, are inhaled and cause an increase in heart and lung conditions (and premature death). Respiratory illness such as asthma and bronchitis are more common and can lead to pulmonary (heart) disease. Acid rain can also harm organisms by causing other changes that are harmful to living organisms. Soil can be deflocculated by acids where the particles that form peds separate causing the peds to collapse, filling the soil spaces and making the soil less permeable. Lime soils are less affected. Acids increase solubility of ions of metals such as Ca2+ and Al3+ ions which poison organisms. Heavy metals such as lead and mercury are more soluble under acidic conditions, this bio accumulates and bio magnify. (Affect animal’s nervous systems, liver and kidneys) Organisms have an increased susceptibility to pests and disease, waxy cuticles of leaves are removed. Nutrient recycling is reduced as soil bacteria are killed by acid and heavy metal bioaccumulation. Plant diversity is affected, less tolerant species removed first. The Convention on Long-Range Transboundary Air Pollution, often abbreviated as Air Pollution or CLRTAP, is intended to protect the human environment against air pollution and to gradually reduce and prevent air pollution, including long-range transboundary air pollution. The whole point of this organisation is to gradually reduce and prevent air pollution. Parties develop policies and strategies to combat the discharge of air pollutants through exchanges of information, consultation, research and monitoring.

Foundation’s Edge CHAPTER THIRTEEN UNIVERSITY

UNIVERSITY Pelorat wrinkled his nose when he and Trevize re-entered the Far Star. Trevize shrugged. â€Å"The human body is a powerful dispenser of odors. Recycling never works instantaneously and artificial scents merely overlay – they do not replace.† â€Å"And I suppose no two ships smell quite alike, once they've been occupied for a period of time by different people.† â€Å"That's right, but did you smell Sayshell Planet after the first hour?† â€Å"No,† admitted Pelorat. â€Å"Well, you won't smell this after a while, either. In fact, if you live in the ship long enough, you'll welcome the odor that greets you on your return as signifying home. And by the way, if you become a Galactic rover after this, Janov, you'll have to learn that it is impolite to comment on the odor of any ship or, for that matter, any world to those who live on that ship or world. Between us, of course, it is all right.† â€Å"As a matter of fact, Golan, the funny thing is I do consider the Far Star home. At least it's Foundation-made.† Pelorat smiled. â€Å"You know, I never considered myself a patriot. I like to think I recognize only humanity as my nation, but I must say that being away from the Foundation fills my heart with love for it.† Trevize was making his bed. â€Å"You're not very far from the Foundation, you know. The Sayshell Union is almost surrounded by Federation territory. We have an ambassador and an enormous presence here, from consuls on down. The Sayshellians like to oppose us in words, but they are usually very cautious about doing anything that gives us displeasure. – Janov, do turn in. We got nowhere today and we have to do better tomorrow.† Still, there was no difficulty in hearing between the two rooms, however, and when the ship was dark, Pelorat, tossing restlessly, finally said in a not very loud voice, â€Å"Golan?† â€Å"Yes.† â€Å"You're not sleeping?† â€Å"Not while you're talking.† â€Å"We did get somewhere today. Your friend, Compor†¦Ã¢â‚¬  â€Å"Ex-friend,† growled Trevize. â€Å"Whatever his status, he talked about Earth and told us something I hadn't come across in my researches before. Radioactivity!† Trevize lifted himself to one elbow. â€Å"Look, Golan, if Earth is really dead, that doesn't mean we return home. I still want to find Gaia.† Pelorat made a puffing noise with his mouth as though he were blowing away feathers. â€Å"My dear chap, of course. So do I. Nor do I think Earth is dead. Compor may have been telling what he felt was the truth, but there's scarcely a sector in the Galaxy that doesn't have some tale or other that would place the origin of humanity on some local world. And they almost invariably call it Earth or some closely equivalent name. â€Å"We call it ‘globocentrism' in anthropology. People have a tendency to take it for granted that they are better than their neighbors; that their culture is older and superior to that of other worlds; that what is good in other worlds has been borrowed from them, while what is bad is distorted or perverted in the borrowing or invented elsewhere. And the tendency is to equate superiority in quality with superiority in duration. If they cannot reasonably maintain their own planet to be Earth or its equivalent – and the beginnings of the human species – they almost always do the best they can by placing Earth in their own sector, even when they cannot locate it exactly.† Trevize said, â€Å"And you're telling me that Compor was just following the common habit when he said Earth existed in the Sirius Sector. – Still, the Sirius Sector does have a long history, so every world in it should be well known and it should be easy to check the matter, even without going there.† Pelorat chuckled. â€Å"Even if you were to show that no world in the Sirius Sector could possibly be Earth, that wouldn't help. You underestimate the depths to which mysticism can bury rationality, Golan. There are at least half a dozen sectors in the Galaxy where respectable scholars repeat, with every appearance of solemnity and with no trace of a smile, local tales that Earth – or whatever they choose to call it – is located in hyperspace and cannot be reached, except by accident.† â€Å"And do they say anyone has ever reached it by accident?† â€Å"There are always tales and there is always a patriotic refusal to disbelieve, even though the tales are never in the least credible and are never believed by anyone not of the world that produces them.† â€Å"Then, Janov, let's not believe them ourselves. Let's enter our own private hyperspace of sleep.† â€Å"But, Golan, it's this business of Earth's radioactivity that interests me. To me, that seems to bear the mark of truth – or a kind of truth.† â€Å"What do you mean, a kind of truth?† â€Å"Well, a world that is radioactive would be a world in which hard radiation would be present in higher concentration than is usual. The rate of mutation would be higher on such a world and evolution would proceed more quickly – and more diversely. I told you, if you remember, that among the points on which almost all the tales agree is that life on Earth was incredibly diverse: millions of species of all kinds of life. It is this diversity of life – this explosive development – that might have brought intelligence to the Earth, and then the surge outward into the Galaxy. If Earth were for some reason radioactive – that is, more radioactive than other planets – that might account for everything else about Earth that is – or was unique.† Trevize was silent for a moment. Then, â€Å"In the first place, we have no reason to believe Compor was telling the truth. He may well have been lying freely in order to induce us to leave this place and go chasing madly off to Sirius. I believe that's exactly what he was doing. And even if he were telling the truth, what he said was that there was so much radioactivity that life became impossible.† Pelorat made the blowing gesture again. â€Å"There wasn't too much radioactivity to allow life to develop on Earth and it is easier for life to maintain itself – once established – than to develop in the first place. Granted, then, that life was established and maintained on Earth. Therefore the level of radioactivity could not have been incompatible with life to begin with and it could only have fallen off with time. There is nothing that can raise the level.† â€Å"Nuclear explosions?† suggested Trevize. â€Å"What would that have to do with it?† â€Å"I mean, suppose nuclear explosions took place on Earth?† â€Å"On Earth's surface? Impossible. There's no record in the history of the Galaxy of any society being so foolish as to use nuclear explosions as a weapon of war. We would never have survived. During the Trigellian insurrections, when both sides were reduced to starvation and desperation and when Jendippurus Khoratt suggested the initiation of a fusion reaction in†¦Ã¢â‚¬  â€Å"He was hanged by the sailors of his own fleet. I know Galactic history. I was thinking of accident.† â€Å"There's no record of accidents of that sort that are capable of significantly raising the intensity of radioactivity of a planet, generally.† He sighed. â€Å"I suppose that when we get around to it, we'll have to go to the Sirius Sector and do a little prospecting there.† â€Å"Someday, perhaps, we will. But for now†¦Ã¢â‚¬  â€Å"Yes, yes, I'll stop talking.† He did and Trevize lay in the dark for nearly an hour considering whether he had attracted too much attention already and whether it might not be wise to go to the Sirius Sector and then return to Gaia when attention – everyone's attention – was elsewhere. He had arrived at no clear decision by the time he fell asleep. His dreams were troubled. They did not arrive back in the city till midmorning. The tourist center was quite crowded this time, but they managed to obtain the necessary directions to a reference library, where in turn they received instruction in the use of the local models of data-gathering computers. They went carefully through the museums and universities, beginning with those that were nearest, and checked out whatever information was available on anthropologists, archaeologists, and ancient historians. Pelorat said, â€Å"Ah!† â€Å"Ah?† said Trevize with some asperity. â€Å"Ah, what?† â€Å"This name, Quintesetz. It seems familiar.† â€Å"You know him?† â€Å"No, of course not, but I may have read papers of his. Back at the ship, where I have my reference collection†¦Ã¢â‚¬  â€Å"We're not going back, Janov. If the name is familiar, that's a starting point. If he can't help us, he will undoubtedly be able to direct us further.† He rose to his feet. â€Å"Let's find a way of getting to Sayshell University. And since there will be nobody there at lunchtime, let's eat first.† It was not till late afternoon that they had made their way out to the university, worked their way through its maze, and found themselves in an anteroom, waiting for a young woman who had gone off in search of information and who might – or might not – lead them to Quintesetz. â€Å"I wonder,† said Pelorat uneasily, â€Å"how much longer we'll have to wait. It must be getting toward the close of the schoolday.† And, as though that were a cue, the young lady whom they had last seen half an hour before, walked rapidly toward them, her shoes glinting red and violet and striking the ground with a sharp musical tone as she walked. The pitch varied with the speed and force of her steps. Pelorat winced. He supposed that each world had its own ways of assaulting the senses, just as each had its own smell. He wondered if, now that he no longer noticed the smell, he might also learn not to notice the cacophony of fashionable young women when they walked. She came to Pelorat and stopped. â€Å"May I have your full name, Professor?† â€Å"It's Janov Pelorat, miss.† â€Å"Your home planet?† Trevize began to lift one hand as though to enjoin silence, but Pelorat, either not seeing or not regarding, said, â€Å"Terminus.† The young woman smiled broadly, and looked pleased. â€Å"When I told Professor Quintesetz that a Professor Pelorat was inquiring for him, he said he would see you if you were Janov Pelorat of Terminus, but not otherwise.† Pelorat blinked rapidly. â€Å"You – you mean, he's heard of me?† â€Å"It certainly seems so.† And, almost creakily, Pelorat managed a smile as he turned to Trevize. â€Å"He's heard of me. I honestly didn't think†¦ I mean, I've written very few papers and I didn't think that anyone†¦Ã¢â‚¬  He shook his head. â€Å"They weren't really important.† â€Å"Well then,† said Trevize, smiling himself, â€Å"stop hugging yourself in an ecstasy of self-underestimation and let's go.† He turned to the woman. â€Å"I presume, miss, there's some sort of transportation to take us to him?† â€Å"It's within walking distance. We won't even have to leave the building complex and I'll be glad to take you there. – Are both of you from Terminus?† And off she went. The two men followed and Trevize said, with a trace of annoyance, â€Å"Yes, we are. Does that make a difference?† â€Å"Oh no, of course not. There are people on Sayshell that don't like Foundationers, you know, but here at the university, we're more cosmopolitan than that. Live and let live is what I always say. I mean, Foundationers are people, too. You know what I mean?† â€Å"Yes, I know what you mean. Lots of us say that Sayshellians are people.† â€Å"That's just the way it should be. I've never seen Terminus. It must be a big city.† â€Å"Actually it isn't,† said Trevize matter-of-factly. â€Å"I suspect it's smaller than Sayshell City.† â€Å"You're tweaking my finger,† she said. â€Å"It's the capital of the Foundation Federation, isn't it? I mean, there isn't another Terminus, is there?† â€Å"No, there's only one Terminus, as far as I know, and that's where we're from – the capital of the Foundation Federation.† â€Å"Well then, it must be an enormous city. – And you're coming all the way here to see the professor. We're very proud of him, you know. He's considered the biggest authority in the whole Galaxy.† â€Å"Really?† said Trevize. â€Å"On what?† Her eyes opened wide again, â€Å"You are a teaser. He knows more about ancient history than – than I know about my own family.† And she continued to walk on ahead on her musical feet. One can only be called a teaser and a finger-tweaker so often without developing an actual impulse in that direction. Trevize smiled and said, â€Å"The professor knows all about Earth, I suppose?† â€Å"Earth?† She stopped at an office door and looked at them blankly. â€Å"You know. The world where humanity got its start.† â€Å"Oh, you mean the planet-that-was-first. I guess so. I guess he should know all about it. After all, it's located in the Sayshell Sector. Everyone knows that! – This is his office. Let me signal him.† â€Å"No, don't,† said Trevize. â€Å"Not for just a minute. Tell me about Earth.† â€Å"Actually I never heard anyone call it Earth. I suppose that's a Foundation word. We call it Gaia, here.† Trevize cast a swift look at Pelorat. â€Å"Oh? And where is it located?† â€Å"Nowhere. It's in hyperspace and there's no way anyone can get to it. When I was a little girl, my grandmother said that Gaia was once in real space, but it was so disgusted at the†¦Ã¢â‚¬  â€Å"Crimes and stupidities of human beings,† muttered Pelorat, â€Å"that, out of shame, it left space and refused to have anything more to do with the human beings it had sent out into the Galaxy.† â€Å"You know the story, then. See? – A girlfriend of mine says it's superstition. Well, I'll tell her. If it's good enough for professors from the Foundation†¦Ã¢â‚¬  A glittering section of lettering on the smoky glass of the door read: SOTAYN QUINTESETZ ABT in the hard-to-read Sayshellian calligraphy – and under it was printed, in the same fashion: DEPARTMENT OF ANCIENT HISTORY. The woman placed her finger on a smooth metal circle. There was no sound, but the smokiness of the glass turned a milky white for a moment and a soft voice said, in an abstracted sort of way, â€Å"Identify yourself, please.† â€Å"Janov Pelorat of Terminus,† said Pelorat, â€Å"with Golan Trevize of the same world.† The door swung open at once. The man who stood up, walked around his desk, and advanced to meet them was tall and well into middle age. He was light brown in skin color and his hair, which was set in crisp curls over his head, was iron-gray. He held out his hand in greeting and his voice was soft and low. â€Å"I am S. Q. I am delighted to meet you, Professors.† Trevize said, â€Å"I don't own an academic title. I merely accompany Professor Pelorat. You may call me simply Trevize. I am pleased to meet you, Professor Abt.† Quintesetz held up one hand in clear embarrassment. â€Å"No no. Abt is merely a foolish title of some sort that has no significance outside of Sayshell. Ignore it, please, and call me S. Q. We tend to use initials in ordinary social intercourse on Sayshell. I'm so pleased to meet two of you when I had been expecting but one.† He seemed to hesitate a moment, then extended his right hand after wiping it unobtrusively on his trousers. Trevize took it, wondering what the proper Sayshellian manner of greeting was. Quintesetz said, â€Å"Please sit down. I'm afraid you'll find these chairs to be lifeless ones, but I, for one, don't want my chairs to hug me. It's all the fashion for chairs to hug you nowadays, but I prefer a hug to mean something, hey?† Trevize smiled and said, â€Å"Who would not? Your name, SQ., seems to be of the Rim Worlds and not Sayshellian. I apologize if the remark is impertinent.† â€Å"I don't mind. My family traces back, in part, to Askone. Five generations back, my great-great-grandparents left Askone when Foundation domination grew too heavy.† Pelorat said, â€Å"And we are Foundationers. Our apologies.† Quintesetz waved his hand genially, â€Å"I don't hold a grudge across a stretch of five generations. Not that such things haven't been done, more's the pity. Would you like to have something to eat? To drink? Would you like music in the background?† â€Å"If you don't mind,† said Pelorat, â€Å"I'd be willing to get right to business, if Sayshellian ways would permit.† â€Å"Sayshellian ways are not a barrier to that, I assure you. – You have no idea how remarkable this is, Dr. Pelorat. It was only about two weeks ago that I came across your article on origin myths in the Archaeological Review and it struck me as a remarkable synthesis all too brief.† Pelorat flushed with pleasure. â€Å"How delighted I am that you have read it. I had to condense it, of course, since the Review would not print a full study. I have been planning to do a treatise on the subject.† â€Å"I wish you would. In any case, as soon as I had read it, I had this desire to see you. I even had the notion of visiting Terminus in order to do so, though that would have been hard to arrange†¦Ã¢â‚¬  â€Å"Why so?† asked Trevize. Quintesetz looked embarrassed. â€Å"I'm sorry to say that Sayshell is not eager to join the Foundation Federation and rather discourages any social communication with the Foundation. We've a tradition of neutralism, you see. Even the Mule didn't bother us, except to extort from us a specific statement of neutrality. For that reason, any application for permission to visit Foundation territory generally and particularly Terminus – is viewed with suspicion, although a scholar such as myself, intent on academic business, would probably obtain his passport in the end. – But none of that was necessary; you have come to me. I can scarcely believe it. I ask myself: Why? Have you heard of me, as I have heard of you?† Pelorat said, â€Å"I know your work, S. Q., and in my records I have abstracts of your papers. It is why I have come to you. I am exploring both the matter of Earth, which is the reputed planet of origin of the human species, and the early period of the exploration and settlement of the Galaxy. In particular, I have come here to inquire as to the founding of Sayshell.† â€Å"From your paper,† said Quintesetz, â€Å"I presume you are interested in myths and legends.† â€Å"Even more in history – actual facts – if such exist. Myths and legends, otherwise.† Quintesetz rose and walked rapidly back and forth the length of his office, paused to stare at Pelorat, then walked again. Trevize said impatiently, â€Å"Well, sir.† Quintesetz said, â€Å"Odd! Really odd! It was only yesterday†¦Ã¢â‚¬  Pelorat said, â€Å"What was only yesterday?† Quintesetz said, â€Å"I told you, Dr. Pelorat – may I call you J. P., by the way? I find using a full-length name rather unnatural† â€Å"Please do.† â€Å"I told you, J. P., that I had admired your paper and that I had wanted to see you. The reason I wanted to see you was that you clearly had an extensive collection of legends concerning the beginnings of the worlds and yet didn't have ours. In other words, I wanted to see you in order to tell you precisely what you have come to see me to find out.† â€Å"What has this to do with yesterday, S. Q. ?† asked Trevize. â€Å"We have legends. A legend. An important one to our society, for it has become our central mystery†¦Ã¢â‚¬  â€Å"Mystery?† said Trevize. â€Å"I don't mean a puzzle or anything of that sort. That, I believe, would be the usual meaning of the word in Galactic Standard. There's a specialized meaning here. It means ‘something secret'; something only certain adepts know the full meaning of; something not to be spoken of to outsiders. – And yesterday was the day.† â€Å"The day of what, S. Q. ?† asked Trevize, slightly exaggerating his air of patience. â€Å"Yesterday was the Day of Flight.† â€Å"Ah,† said Trevize, â€Å"a day of meditation and quiet, when everyone is supposed to remain at home.† â€Å"Something like that, in theory, except that in the larger cities, the more sophisticated regions, there is little observance in the older fashion. – But you know about it, I see.† Pelorat, who had grown uneasy at Trevize's annoyed tone, put in hastily, â€Å"We heard a little of it, having arrived yesterday.† â€Å"Of all days,† said Trevize sarcastically. â€Å"See here, S. Q. As I said, I'm not an academic, but I have a question. You said you were speaking of a central mystery, meaning it was not to be spoken of to outsiders. Why, then, are you speaking of it to us? We are outsiders.† â€Å"So you are. But I'm not an observer of the day and the depth of my superstition in this matter is slight at best. J. P. ‘s paper, however, reinforced a feeling I have had for a long time. A myth or legend is simply not made up out of a vacuum. Nothing is – or can be. Somehow there is a kernel of truth behind it, however distorted that might be, and I would like the truth behind our legend of the Day of Flight.† Trevize said, â€Å"Is it safe to talk about it?† Quintesetz shrugged. â€Å"Not entirely, I suppose. The conservative elements among our population would be horrified. However, they don't control the government and haven't for a century. The secularists are strong and would be stronger still, if the conservatives didn't take advantage of our – if you'll excuse me – anti-Foundation bias. Then, too, since I am discussing the matter out of my scholarly interest in ancient history, the League of Academicians will support me strongly, in case of need.† â€Å"In that case,† said Pelorat, â€Å"would you tell us about your central mystery, SQ. ?† â€Å"Yes, but let me make sure we won't be interrupted or, for that matter, overheard. Even if one must stare the bull in the face, one needn't slap its muzzle, as the saying goes.† He flicked a pattern on the work-face of an instrument on his desk and said, â€Å"We're incommunicado now.† â€Å"Are you sure you're not bugged?† asked Trevize. â€Å"Bugged?† â€Å"Tapped! Eavesdropped! – Subjected to a device that will have you under observation – visual or auditory or both.† Quintesetz looked shocked. â€Å"Not here on Sayshell!† Trevize shrugged. â€Å"If you say so.† â€Å"Please go on, SQ.,† said Pelorat. Quintesetz pursed his lips, leaned back in his chair (which gave slightly under the pressure) and put the tips of his fingers together. He seemed to be speculating as to just how to begin. He said, â€Å"Do you know what a robot is?† â€Å"A robot?† said Pelorat. â€Å"No.† Quintesetz looked in the direction of Trevize, who shook his head slowly. â€Å"You know what a computer is, however?† â€Å"Of course,† said Trevize impatiently. â€Å"Well then, a mobile computerized tool†¦Ã¢â‚¬  â€Å"Is a mobile computerized tool.† Trevize was still impatient. â€Å"There are endless varieties and I don't know of any generalized term for it except mobile computerized tool.† † – that looks exactly like a human being is a robot.† S. Q. completed his definition with equanimity. â€Å"The distinction of a robot is that it is humaniform.† â€Å"Why humaniform?† asked Pelorat in honest amazement. â€Å"I'm not sure. It's a remarkably inefficient form for a tool, I grant you, but I'm just repeating the legend. ‘Robot' is an old word from no recognizable language, though our scholars say it bears the connotation of ‘work.† â€Å"I can't think of any word,† said Trevize skeptically, â€Å"that sounds even vaguely like ‘robot' and that has any connection with ‘work.† â€Å"Nothing in Galactic, certainly,† said Quintesetz, â€Å"but that's what they say.† Pelorat said, â€Å"It may have been reverse etymology. These objects were used for work, and so the word was said to mean ‘work. ‘ – In any case, why do you tell us this?† â€Å"Because it is a firmly fixed tradition here on Sayshell that when Earth was a single world and the Galaxy lay all uninhabited before it, robots were invented and devised. There were then two sorts of human beings: natural and invented, flesh and metal, biological and mechanical, complex and simple†¦Ã¢â‚¬  Quintesetz came to a halt and said with a rueful laugh, â€Å"I'm sorry. It is impossible to talk about robots without quoting from the Book of Flight. The people of Earth devised robots – and I need say no more. That's plain enough.† â€Å"And why did they devise robots?† asked Trevize. Quintesetz shrugged. â€Å"Who can tell at this distance in time? Perhaps they were few in numbers and needed help, particularly in the great task of exploring and populating the Galaxy.† Trevize said, â€Å"That's a reasonable suggestion. Once the Galaxy was colonized, the robots would no longer be needed. Certainly there are no humanoid mobile computerized tools in the Galaxy today.† â€Å"In any case,† said Quintesetz, â€Å"the story is as follows – if I may vastly simplify and leave out many poetic ornamentations which, frankly, I don't accept, though the general population does or pretends to. Around Earth, there grew up colony worlds circling neighboring stars and these colony worlds were far richer in robots than was Earth itself. There was more use for robots on raw, new worlds. Earth, in fact, retreated, wished no more robots, and rebelled against them.† â€Å"What happened?† asked Pelorat. â€Å"The Outer Worlds were the stronger. With the help of their robots, the children defeated and controlled Earth – the Mother. Pardon me, but I can't help slipping into quotation. But there were those from Earth who fled their world – with better ships and stronger modes of hyperspatial travel. They fled to far distant stars and worlds, far beyond the closer worlds earlier colonized. New colonies were founded – without robots – in which human beings could live freely. Those were the Times of Flight, so-called, and the day upon which the first Earthmen reached the Sayshell Sector – this very planet, in fact – is the Day of Flight, celebrated annually for many thousands of years.† Pelorat said, â€Å"My dear chap, what you are saying, then, is that Sayshell was founded directly from Earth.† Quintesetz thought and hesitated for a moment. Then he said, â€Å"That is the official belief.† â€Å"Obviously,† said Trevize, â€Å"you don't accept it.† â€Å"It seems to me†¦Ã¢â‚¬  Quintesetz began and then burst out, â€Å"Oh, Great Stars and Small Planets, I don't! It is entirely too unlikely, but it's official dogma and however secularized the government has become, lip service to that, at least, is essential. – Still, to the point. In your article, J. P., there is no indication that you're aware of this story – of robots and of two waves of colonization, a lesser one with robots and a greater one without.† â€Å"I certainly was not,† said Pelorat. â€Å"I hear it now for the first time and, my dear SQ., I am eternally grateful to you for making this known to me. I am astonished that no hint of this has appeared in any of the writings†¦Ã¢â‚¬  â€Å"It shows,† said Quintesetz, â€Å"how effective our social system is. It's our Sayshellian secret – our great mystery.† â€Å"Perhaps,† said Trevize dryly. â€Å"Yet the second wave of colonization – the robotless wave – must have moved out in all directions. Why is it only on Sayshell that this great secret exists?† Quintesetz said, â€Å"It may exist elsewhere and be just as secret. Our own conservatives believe that only Sayshell was settled from Earth and that all the rest of the Galaxy was settled from Sayshell. That, of course, is probably nonsense.† Pelorat said, â€Å"These subsidiary puzzles can be worked out in time. Now that I have the starting point, I can seek out similar information on other worlds. What counts is that I have discovered the question to ask and a good question is, of course, the key by which infinite answers can be educed. How fortunate that I†¦Ã¢â‚¬  Trevize said, â€Å"Yes, Janov, but the good SQ. has not told us the whole story, surely. What happened to the older colonies and their robots? Do your traditions say?† â€Å"Not in detail, but in essence. Human and humanoid cannot live together, apparently. The worlds with robots died. They were not viable.† â€Å"And Earth?† â€Å"Humans left it and settled here and presumably (though the conservatives would disagree) on other planets as well.† â€Å"Surely not every human being left Earth. The planet was not deserted.† â€Å"Presumably not. I don't know.† Trevize said abruptly, â€Å"Was it left radioactive?† Quintesetz looked astonished. â€Å"Radioactive?† â€Å"That's what I'm asking.† â€Å"Not to my knowledge. I never heard of such a thing.† Trevize put a knuckle to his teeth and considered. Finally he said, â€Å"S. Q., it's getting late and we have trespassed sufficiently on your time, perhaps.† (Pelorat made a motion as though he were about to protest, but Trevize's hand was on the other's knee and his grip tightened – so Pelorat, looking disturbed, subsided.) Quintesetz said, â€Å"I was delighted to be of use.† â€Å"You have been and if there's anything we can do in exchange, name it.† Quintesetz laughed gently. â€Å"If the good J. P. will be so kind as to refrain from mentioning my name in connection with any writing he does on our mystery, that will be sufficient repayment.† Pelorat said eagerly, â€Å"You would be able to get the credit you deserve – and perhaps be more appreciated – if you were allowed to visit Terminus and even, perhaps, remain there as a visiting scholar at our university for an extended period. We might arrange that. Sayshell might not like the Federation, but they might not like refusing a direct request that you be allowed to come to Terminus to attend, let us say, a colloquium on some aspect of ancient history.† The Sayshellian half-rose. â€Å"Are you saying you can pull strings to arrange that?† Trevize said, â€Å"Why, I hadn't thought of it, but J. P. is perfectly right. That would be feasible – if we tried. And, of course, the more grateful you make us, the harder we will try.† Quintesetz paused, then frowned. â€Å"What do you mean, sir?† â€Å"All you have to do is tell us about Gaia, S. Q.,† said Trevize. And all the light in Quintesetz's face died. Quintesetz looked down at his desk. His hand stroked absent-mindedly at his short, tightly curled hair. Then he looked at Trevize and pursed his lips tightly. It was as though he were determined not to speak. Trevize lifted his eyebrows and waited and finally Quintesetz said in a strangled sort of way, â€Å"it is getting indeed late – quite glemmering.† Until then he had spoken in good Galactic, but now his words took on a strange shape as though the Sayshellian mode of speech were pushing past his classical education. â€Å"Glemmering, S. Q. ?† â€Å"It is nearly full night.† Trevize nodded. â€Å"I am thoughtless. And I am hungry, too. Could you please join us for an evening meal, S. Q., at our expense? We could then, perhaps, continue our discussion – about Gaia.† Quintesetz rose heavily to his feet. He was taller than either of the two men from Terminus, but he was older and pudgier and his height did not lend him the appearance of strength. He seemed more weary than when they had arrived. He blinked at them and said, â€Å"I forget my hospitality. You are Outworlders and it would not be fitting that you entertain me. Come to my home. It is on campus and not far and, if you wish to carry on a conversation, I can do so in a more relaxed manner there than here. My only regret† (he seemed a little uneasy) â€Å"is that I can offer you only a limited meal. My wife and I are vegetarians and if you are meat-eating, I can Only express my apologies and regrets.† Trevize said, â€Å"J. P. and I will be quite content to forego our carnivorous natures for one meal. Your conversation will more than make up for it – I hope.† â€Å"I can promise you an interesting meal, whatever the conversation,† said Quintesetz, â€Å"if your taste should run to our Sayshellian spices. My wife and I have made a rare study of such things.† â€Å"I look forward to any exoticism you choose to supply, S. Q.,† said Trevize coolly, though Pelorat looked a little nervous at the prospect. Quintesetz led the way. The three left the room and walked down an apparently endless corridor, with the Sayshellian greeting students and colleagues now and then, but making no attempt to introduce his companions. Trevize was uneasily aware that others stared curiously at his sash, which happened to be one of his gray ones. A subdued color was not something that was de rigueur in campus clothing, apparently. Finally they stepped through the door and out into the open. It was indeed dark and a little cool, with trees bulking in the distance and a rather rank stand of grass on either side of the walkway. Pelorat came to a halt – with his back to the glimmer of lights that came from the building they had just left and from the glows that lined the walks of the campus. He looked straight upward. â€Å"Beautiful!† he said. â€Å"There is a famous phrase in a verse by one of our better poets that speaks of ‘the speckle-shine of Sayshell's soaring sky.† Trevize gazed appreciately and said in a low voice, â€Å"Vie are from Terminus, S. Q., and my friend, at least, has seen no other skies. On Terminus, we see only the smooth dim fog of the Galaxy and a few barely visible stars. You would appreciate your own sky even more, had you lived with ours.† Quintesetz said gravely, â€Å"We appreciate it to the full, I assure you. It's not so much that we are in an uncrowded area of the Galaxy, but that the distribution of stars is remarkably even. I don't think that you will find, anywhere in the Galaxy, first-magnitude stars so generally distributed. – And yet not too many, either. I have seen the skies of worlds that are inside the outer reaches of a globular cluster and there you will see too many bright stars. It spoils the darkness of the night sky and reduces the splendor considerably.† â€Å"I quite agree with that,† said Trevize. â€Å"Now I wonder,† said Quintesetz, â€Å"if you see that almost regular pentagon of almost equally bright stars. The Five Sisters, we call them. It's in that direction, just above the line of trees. Do you see it?† â€Å"I see it,† said Trevize. â€Å"Very attractive.† â€Å"Yes,† said Quintesetz. â€Å"It's supposed to symbolize success in love – and there's no love letter that doesn't end in a pentagon of dots to indicate a desire to make love. Each of the five stars stands for a different stage in the process and there are famous poems which have vied with each other in making each stage as explicitly erotic as possible. In my younger days, I attempted versifying on the subject myself and I wouldn't have thought that the time would come when I would grow so indifferent to the Five Sisters, though I suppose it's the common fate. – Do you see the dim star just about in the center of the Five Sisters.† â€Å"That,† said Quintesetz, â€Å"is supposed to represent unrequited love. There is a legend that the star was once as bright as the rest, but faded with grief.† And he walked on rapidly. The dinner, Trevize had been forced to admit to himself, was delightful. There was endless variety and the spicing and dressing were subtle but effective. Trevize said, â€Å"All these vegetables – which have been a pleasure to eat, by the way – are part of the Galactic dietary, are they not, SQ. ?† â€Å"Yes, of course.† â€Å"I presume, though, that there are indigenous forms of life, too.† â€Å"Of course. Sayshell Planet was an oxygen world when the first settlers arrived, so it had to be life-bearing. And we have preserved some of the indigenous life, you may be sure. We have quite extensive natural parks in which both the flora and the fauna of Old Sayshell survive.† Pelorat said sadly, â€Å"There you are in advance of us, S. Q. There was little land life on Terminus when human beings arrived and I'm afraid that for a long time no concerted effort was made to preserve the sea life, which had produced the oxygen that made Terminus habitable. Terminus has an ecology now that is purely Galactic in nature.† â€Å"Sayshell,† said Quintesetz, with a smile of modest pride, â€Å"has a long and steady record of life-valuing.† And Trevize chose that moment to say, â€Å"When we left your office, SQ., I believe it was your intention to feed us dinner and then tell us about Gaia.† Quintesetz's wife, a friendly woman – plump and quite dark, who had said little during the meal – looked up in astonishment, rose, and left the room without a word. â€Å"My wife,† said Quintesetz uneasily, â€Å"is quite a conservative, I'm afraid, and is a bit uneasy at the mention of – the world. Please excuse her. But why do you ask about it?† â€Å"Because it is important for J. P.'s work, I'm afraid.† â€Å"But why do you ask it of me? We were discussing Earth, robots, the founding of Sayshell. What has all this to do with – what you ask?† ‘Perhaps nothing, and yet there are so many oddnesses about the matter. Why is your wife uneasy at the mention of Gaia? Why are you uneasy? Some talk of it easily enough. We have been told only today that Gaia is Earth itself and that it has disappeared into hyperspace because of the evil done by human beings.† A look of pain crossed Quintesetz's face. â€Å"Who told you that gibberish?† â€Å"Someone I met here at the university.† â€Å"That's just superstition.† â€Å"Then it's not part of the central dogma of your legends concerning the Flight?† â€Å"No, of course not. It's just a fable that arose among the ordinary, uneducated people.† â€Å"Are you sure?† asked Trevize coldly. Quintesetz sat back in his chair and stared at the remnant of the meal before him. â€Å"Come into the living room,† he said. â€Å"My wife will not allow this room to be cleared and set to rights while we are here and discussing – this.† â€Å"Are you sure it is just a fable?† repeated Trevize, once they had seated themselves in another room, before a window that bellied upward and inward to give a clear view of Sayshell's remarkable night sky. The lights within the room glimmered down to avoid competition and Quintesetz's dark countenance melted into the shadow. Quintesetz said, â€Å"Aren't you sure? Do you think that any world can dissolve into hyperspace? You must understand that the average person has only the vaguest notion of what hyperspace is.† â€Å"The truth is,† said Trevize, â€Å"that I myself have only the vaguest notion of what hyperspace is and I've been through it hundreds of times.† â€Å"Let me speak realities, then. I assure you that Earth – wherever it is – is not located within the borders of the Sayshell Union and that the world you mentioned is not Earth.† â€Å"But even if you don't know where Earth is, S. Q., you ought to know where the world I mentioned is. It is certainly within the borders of the Sayshell Union. We know that much, eh, Pelorat?† Pelorat, who had been listening stolidly, started at being suddenly addressed and said, â€Å"If it comes to that, Golan, I know where it is.† Trevize turned to look at him. â€Å"Since when, Janov?† â€Å"Since earlier this evening, my dear Golan. You showed us the Five Sisters, S. Q., on our way from your office to your house. You pointed out a dim star at the center of the pentagon. I'm positive that's Gaia.† Quintesetz hesitated – his face, hidden in the dimness, was beyond any chance of interpretation. Finally he said, â€Å"Well, that's what our astronomers tell us – privately. It is a planet that circles that star.† Trevize gazed contemplatively at Pelorat, but the expression on the professor's face was unreadable. Trevize turned to Quintesetz, â€Å"Then tell us about that star. Do you have its co-ordinates?† â€Å"I? No.† He was almost violent in his denial. â€Å"I have no stellar co-ordinates here. You can get it from our astronomy department, though I imagine not without trouble. No travel to that star is permitted.† â€Å"Why not? It's within your territory, isn't it?† â€Å"Spaciographically, yes. Politically, no.† Trevize waited for something more to be said. When that didn't come, he rose. â€Å"Professor Quintesetz,† he said formally, â€Å"I am not a policeman, soldier, diplomat, or thug. I am not here to force information out of you. Instead, I shall, against my will, go to our ambassador. Surely, you must understand that it is not I, for my own personal interest, that request this information. This is Foundation business and I don't want to make an interstellar incident out of this. I don't think the Sayshell Union would want to, either.† Quintesetz said uncertainly, â€Å"What is this Foundation business?† â€Å"That's not something I can discuss with you. If Gaia is not something you can discuss with me, then we will transfer it all to the government level and, under the circumstances, it may be the worse for Sayshell. Sayshell has kept its independence of the Federation and I have no objection to that. I have no reason to wish Sayshell ill and I do not wish to approach our ambassador. In fact, I will harm my own career in doing so, for I am under strict instruction to get this information without making a government matter of it. Please tell me, then, if there is some firm reason why you cannot discuss Gaia. Will you be arrested or otherwise punished, if you speak? Will you tell me plainly that I have no choice but to go to the ambassadorial height?† â€Å"No no,† said Quintesetz, who sounded utterly confused. â€Å"I know nothing about government matters. We simply don't speak of that world.† â€Å"Superstition?† ‘Well, yes! Superstition! – Skies of Sayshell, in what way am I better than that foolish person who told you that Gaia was in hyperspace – or than my wife who won't even stay in a room where Gaia is mentioned and who may even have left the house for fear it will be smashed by†¦Ã¢â‚¬  â€Å"Lightning?† â€Å"By some stroke from afar. And I, even I, hesitate to pronounce the name. Gaia! Gaia! The syllables do not hurt! I am unharmed! Yet I hesitate. – But please believe me when I say that I honestly don't know the co-ordinates for Gaia's star. I can try to help you get it, if that will help, but let me tell you that we don't discuss the world here in the Union. We keep hands and minds off it. I can tell you what little is known – really known, rather than supposed – and I doubt that you can learn anything more anywhere in these worlds of the Union. â€Å"We know Gaia is an ancient world and there are some who think it is the oldest world in this sector of the Galaxy, but we are not certain. Patriotism tells us Sayshell Planet is the oldest; fear tells us Gaia Planet is. The only way of combining the two is to suppose that Gaia is Earth, since it is known that Sayshell was settled by Earthpeople. â€Å"Most historians think – among themselves – that Gaia Planet was founded independently. They think it is not a colony of any world of our Union and that the Union was not colonized by Gaia. There is no consensus on comparative age, whether Gaia was settled before or after Sayshell was.† Trevize said, â€Å"So far, what you know is nothing, since every possible alternative is believed by someone or other.† Quintesetz nodded ruefully. â€Å"It would seem so. It was comparatively late in our history that we became conscious of the existence of Gaia. We had been preoccupied at first in forming the Union, then in fighting off the Galactic Empire, then in trying to find our proper role as an Imperial province and in limiting the power of the Viceroys. â€Å"It wasn't till the days of Imperial weakness were far advanced that one of the later Viceroys, who was under very weak central control by then, came to realize that Gaia existed and seemed to maintain its independence from the Sayshellian province and even from the Empire itself. It simply kept to itself in isolation and secrecy, so that virtually nothing was known about it, anymore than is now known. The Viceroy decided to take it over. We have no details what happened, but his expedition was broken and few ships returned. In those days, of course, the ships were neither very good nor very well led. â€Å"Sayshell itself rejoiced at the defeat of the Viceroy, who was considered an Imperial oppressor, and the debacle led almost directly to the re-establishment of our independence. The Sayshell Union snapped its ties with the Empire and we still celebrate the anniversary of that event as Union Day. Almost out of gratitude we left Gaia alone for nearly a century, but the time came when we were strong enough to begin to think of a little imperialistic expansion of our own. Why not take over Gaia? Why not at least establish a Customs Union? We sent out a fleet and it was broken, too. â€Å"Thereafter, we confined ourselves to an occasional attempt at trade – attempts that were invariably unsuccessful. Gaia remained in firm isolation and never – to anyone's knowledge – made the slightest attempt to trade or communicate with any other world. It certainly never made the slightest hostile move against anyone in any direction. And then†¦Ã¢â‚¬  Quintesetz turned up the light by touching a control in the arm of his chair. In the light, Quintesetz's face took on a clearly sardonic expression. He went on, â€Å"Since you are citizens of the Foundation, you perhaps remember the Mule.† Trevize flushed. In five centuries of existence, the Foundation had been conquered only once. The conquest had been only temporary and had not seriously interfered with its climb toward Second Empire, but surely no one who resented the Foundation and wished to puncture its self-satisfaction would fail to mention the Mule, its one conqueror. And it was likely (thought Trevize) that Quintesetz had raised the level of light in order that he might see Foundational self-satisfaction punctured. He said, â€Å"Yes, we of the Foundation remember the Mule.† â€Å"The Mule,† said Quintesetz, â€Å"ruled an Empire for a while, one that was as large as the Federation now controlled by the Foundation. He did not, however, rule us. He left us in peace. He passed through Sayshell at one time, however. We signed a declaration of neutrality and a statement of friendship. He asked nothing more. We were the only ones of whom he asked nothing more in the days before illness called a halt to his expansion and forced him to wait for death. He was not an unreasonable man, you know. He did not use unreasonable force, he was not bloody, and he ruled humanely.† â€Å"It was just that he was a conqueror,† said Trevize sarcastically. â€Å"Like the Foundation,† said Quintesetz. Trevize, with no ready answer, said irritably, â€Å"Do you have more to say about Gaia?† â€Å"Just a statement that the Mule made. According to the account of the historic meeting between the Mule and President Kallo of the Union, the Mule is described as having put his signature to the document with a flourish and to have said, â€Å"You are neutral even toward Gaia by this document, which is fortunate for you. Even I will not approach Gaia.† Trevize shook his head. â€Å"Why should he? Sayshell was eager to pledge neutrality and Gaia had no record of ever troubling anyone. The Mule was planning the conquest of the entire Galaxy at the time, so why delay for trifles? Time enough to turn on Sayshell and Gaia, when that was done.† â€Å"Perhaps, perhaps,† said Quintesetz, â€Å"but according to one witness at the time, a person we tend to believe, the Mule put down his pen as he said, ‘Even I will not approach Gaia. ‘ His voice then dropped and, in a whisper not meant to be heard, he added ‘again.† â€Å"Not meant to be heard, you say. Then how was it he was heard?† â€Å"Because his pen rolled off the table when he put it down and a Sayshellian automatically approached and bent to pick it up. His ear was close to the Mule's mouth when the word ‘again' was spoken and he heard it. He said nothing until after the Mule's death.† â€Å"How can you prove it was not an invention.† â€Å"The man's life is not the kind that makes it probable he would invent something of this kind. His report is accepted.† â€Å"And if it is?† â€Å"The Mule was never in – or anywhere near – the Sayshell Union except on this one occasion, at least after he appeared on the Galactic scene. If he had ever been on Gaia, it had to be before he appeared on the Galactic scene.† â€Å"Well?† â€Å"Well, where was the Mule born?† â€Å"I don't think anyone knows,† said Trevize. â€Å"In the Sayshell Union, there is a strong feeling he was born on Gaia.† â€Å"Because of that one word?† â€Å"Only partly. The Mule could not be defeated because he had strange mental powers. Gaia cannot be defeated either.† â€Å"Gaia has not been defeated as yet. That does not necessarily prove it cannot be.† â€Å"Even the Mule would not approach. Search the records of his Overlordship. See if any region other than the Sayshell Union was so gingerly treated. And do you know that no one who has ever gone to Gaia for the purpose of peaceful trade has ever returned? Why do you suppose we know so little about it?† Trevize said, â€Å"Your attitude seems much like superstition.† â€Å"Call it what you will. Since the time of the Mule, we have wiped Gaia out of our thinking. We don't want it to think of us. We only feel safe if we pretend it isn't there. It may be that the government has itself secretly initiated and encouraged the legend that Gaia has disappeared into hyperspace in the hope that people will forget that there is a real Star of that name.† â€Å"You think that Gaia is a world of Mules, then?† â€Å"It may be. I advise you, for your good, not to go there. If you do, you will never return. If the Foundation interferes with Gaia, it will show less intelligence than the Mule did. You might tell your ambassador that.† Trevize said, â€Å"Get me the co-ordinates and I will be off your world at once. I will reach Gaia and I will return.† Quintesetz said, â€Å"I will get you the co-ordinates. The astronomy department works nights, of course, and I will get it for you now, if I can. – But let me suggest once more that you make no attempt to reach Gaia.† Trevize said, â€Å"I intend to make that attempt.† And Quintesetz said heavily, â€Å"Then you intend suicide.†