...The frontier as Frederick Turner put forth, varied from each period in history; Turner believed that in terms of American history, it was the birth of a nation, stating that: “...we [the reader(s)] note that the frontier promoted the formation of a composite nationality for the American people.”1 This teleological approach however is a bit slighted; while the colonists did eventually look to other settlements around them for aid rather than their parent continues overseas, the first settlers did not set out into the frontier of the New World looking for, or even attempting to create an identity. Instead, they did it to expand their own influence and gather a foothold within the New World. With this said, Turner’s thesis of the American frontier’s impact on the county's history does yield something interesting....
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...experience on the frontier played a crucial role in shaping the nation’s character, along with bringing up traits like individualism, democracy, and a distinctive American identity. The frontier was overall, at the time in the 1800’s, mainly a rough, very demanding environment where only the Native Americans knew how to navigate the land. Since the west was just acquired land, it basically had no laws and this resulted in disputes to be settled with violence. These challenges, in-turn, forced pioneers and settlers to be self-reliant, and to only rely on themselves and their own skills in this harsh environment. Frederick Jackson Turner essay, “The Significance of the Frontier in American History”, 1893, perfectly demonstrates how the frontier helped shape the...
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...In 1893, historian Fredrick Jackson Turner presented his "Frontier Thesis" at the Columbian Exposition in Chicago. Turner's Frontier Thesis mentioned the process of the frontier and argued about what it did. He explains the effect that the Frontier had on the development of the United States as everyone has come to learn in chronological order the different phases early America experienced. The advancement of the Frontier allowed Americans to forget old European culture and traditions to start a new American culture. This allowed citizens to start a new nation with the vast free land there was to explore. Turner lists the different phases beginning with the Indian and the hunter, the disintegration of savagery by the entrance of the trader,...
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...Get Fiber-Optic Internet from Frontier FiOS delivers speed you can depend on. [Shop Frontier FiOS] # # # G MODULE Fiber Internet: Fast and reliable What makes it so fast? It’s the most advanced network for Internet. It's delivered by a cable of hair-thin, flexible glass fibers. FiOS Internet carries data as pulses of light. This form of high-speed Internet won’t falter because of distance from a carrier. It's also dependable in adverse weather, unlike other networks. Fiber-optic Internet is future ready, with enough capacity to expand even further. What makes it so reliable? High-speed Internet’s as good as it is at its best. For other carriers, network traffic could limit the speeds you can expect at your house. Frontier FiOS comes...
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...In 1893 Frederick Jackson Turner published his own essay entitled, “The Significance of the Frontier in American History”. The first presentation of this paper was at a convocation of the American Historical Association during the 1893 World’s Columbian Exposition in Chicago, Illinois. With in this paper Turner brings up topics he felt would help the American Frontier however, there are two main topics that stand out: individualism will promote democracy, shaping of american character using inventions and adaptations. In Frederick Jacksons thesis he states that an advocacy of a democracy was being introduced in Westward America as well as Europe due to individualism. The Europeans were in lands that Americans were trying to settle in therefore...
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...The story of the Western Frontier is bursting with countless experiences of historic events that changed the American Frontier in the eighteenth century. The Western Frontier was a form of civilization rather than a piece of old dusty land. The West was a region whose social conditions result from the claim of older establishment and ideas to transforming influence of free land. Though this claim, a new environment is quickly entered, liberty of opportunity is opened, new development and institutions, and fresh ideals are brought into existence. The desert disappears, the West proper passes on to a different frontier, and a new civilization has arose. The Great West had countless opportunities and problems during the last half of the 1800s. There were mines to seized, an abundant of lands to be preempted; all the natural resources exposed to the wisest and the bravest. As the Western dusty land was being cleared to formed community for the many settlements to seek comforts in the Wild West, but some...
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...2014). “Invisible Hand” Invisible hand is a phrase used by Adam Smith to explain how people in the market, in order to pursue their self-interest, are led by an “invisible hand” to promote the well-being of the entire community (Baumol & Blinder, 2014). Invisible hand has an important role in making decisions, as in a competitive market in which consumers have a choice to pick their product. Circular Flow Model components * Household: Households get income from factor market by selling their land, labor, and capital entrepreneurship. They pay a portion of their income to the government in the form of federal and state tax and use the rest of the money in the form of consumption expenditure to buy goods or services from the product market. * Factor Market: The factor market buys land, labor, and capital entrepreneurship from households by paying them an amount in form of wage, salary etc. The market uses land, labor, and...
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...STOCHASTIC FRONTIER ANALYSIS 1 MOTIVATION • Usual textbook presentations treat producers as successful optimizers. They maximize production, minimize cost, and maximize profits. • Conventional econometric techniques build on this paradigm to estimate production/cost/profit function parameters using regression techniques where deviations of observed choices from optimal ones are modeled as statistical noise. • However though every producer may attempt to optimize, not all of them may succeed in their efforts. For example, given the same inputs, and the same technology, some will produce more output than others, i.e., some producers will be more efficient than others. • Econometric estimation techniques should allow for the fact that deviations of observed choices from optimal ones are due to two factors: failure to optimize i.e., inefficiency due to random shocks • Stochastic Frontier Analysis or SFA is one such technique to model producer behavior. 2 USEFULNESS OF SFA • SFA produces efficiency estimates or efficiency scores of individual producers. Thus one can identify those who need intervention and corrective measures. Since efficiency scores vary across producers, they can be related to producer characteristics like size, ownership, location, etc. Thus one can identify source of inefficiency. SFA provides a powerful tool for examining effects of intervention. For example, has efficiency of the banks changed after deregulation? Has this change varied across...
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...A Midwife’s Tale The American Revolution affected the lives of many people, including those living ordinary lives on the Maine frontier. Martha Ballard was a midwife during the years following the American Revolution. Through studying Martha Ballard’s recorded thoughts on life and her surroundings, she provides a description of the daily life of those living on the Maine frontier during this time. Citizens during this time period were greatly influenced by their jobs, concerns, religion, gender differences, customs, and changes after the American Revolution. Living in Maine after the American Revolution brought frontier land disputes, troubles in connecting with the outside world, and declines in deference. According to Martha Ballard’s...
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...final frontier 1. space: -outer space = region beyond earth 2. final: -last, ultimate, no more frontier beyond this 3. frontier: -an outer limit, especially one in which the opportunities for research and development have not been exploited 4. History of space exploration: simple overview of western countries – http://www.spacekids.co.uk/spacehistory/ includes China’s endeavors – http://en.wikipedia.org/wiki/Timeline_of_space_exploration 5. Can space be considered an unexplored region if… a. man has been observing the sky since before recorded history? b. man has been thinking of exploring it since the 17th century?啟動螢幕閱讀器 共用設定 • yuanshangkwong c. the first man-made vehicle flew 100 km outside earth in 1942? d. the first human space flight in 1961? e. the Voyager I and II space craft were launched? f. man put a space station into orbit? g. even ordinary people like singer Sarah Brightman can pay to fly into space? h. we can be buried in space? 6. Consider: -What do we know about space? -What don’t we know about it? -Is it our next or our final frontier? -Is Antarctica the final frontier? Are the oceans our final frontier? Is the earth’s core our final frontier? Is time our final frontier? Is death our final frontier? I don’t think the opposition needs to say what is the final frontier, only that space isn’t. Negative side arguments 1st speaker 1) Definition on final, frontier, tangible or intangible frontier 2) Rebutt...
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...citizens that break the law because of their belief that their violence is truly done because they believe their efforts are honorable and justified, despite issues of legality or immorality as perceived by others (13). Thus a complex relationship arises between these uncivil disobedients and the law and the treading of the fine line between what is legal and illegal with their actions. Kirkpatrick provides numerous examples of these disobedients, namely western frontier vigilantes and southern lynch mobs. What these unique groups had, despite having varying agendas, was a similar mindset in accomplishing their goals, using violence to meet their demands, often times going above and beyond the grasp of the law to satisfy their goals. Therefore there are circumstances in which these civil disobedients feel justified in committing such violence as a means to accomplish their goals because of their lack of faith in the legal system as well as the preservation of the virtues that they truly feel are being violated. Frontier vigilantism describes the way individuals often took liberties with...
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...which resources are transformed into useful forms is A) capitalization. B) consumption. C) production. D) allocation. Answer: C Diff: 2 Topic: Scarcity, Choice, and Opportunity Cost Skill: Definition 2) Outputs in the production process are A) pollution. B) money. C) good and services of value to households. D) resources. Answer: C Diff: 2 Topic: Scarcity, Choice, and Opportunity Cost Skill: Definition 3) Which of the following is NOT a resource as the term is used by economists? A) land B) labor C) buildings D) money Answer: D Diff: 1 Topic: Scarcity, Choice, and Opportunity Cost Skill: Fact 4) Which of the following would an economist classify as capital? A) a $50 bill B) a corporate bond C) a post office employee D) a guitar used by a musician Answer: D Diff: 2 Topic: Scarcity, Choice, and Opportunity Cost Skill: Conceptual AACSB: Reflective Thinking 5) Capital, as economists use the term, A) is the money the firm spends to hire resources. B) is money the firm raises from selling stock. C) refers to the process by which resources are transformed into useful forms. D) refers to things that have already...
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...Turner is most successful at analyzing American history through his essay, “The Significance of the Frontier in American History”. This piece examines how life was first created here in America, as well as how the first frontier set the stage for numerous civilization advancements that would occur in the near future. Many Americans today seem to forget about the first settlements that served as the basis for what the United States of America has become. This essay accomplishes the goal of reminding those people of how majorly important each step was on the American frontier centuries ago. What was once just an enormous area of free, unoccupied land, is now the home of billions of people as well as numerous buildings, businesses, and modes of transportation....
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... this is not true of portfolio standard deviation! * Portfolio standard deviation depends on covariance / correlation between each pair of assets within the portfolio…how much the movements between each pair of assets offset each other. * In general, portfolio standard deviation will be less than the weighted average of the standard deviations of the individual assets within the portfolio. 1 Covariance =: Tells you how much any pair (two) stocks (i and j) move around together: | Prob. | 1 | 2 | Great | .3 | .2 | .1 | OK | .5 | .1 | .2 | Bad | .2 | - .05 | .4 | = -.0033 + 0 + -.0057 = -.009 Correlation between Two Assets The correlation coefficient “standardizes” covariance – puts it into a form that tells you how much two assets actually move together. Correlation coefficients are scaled between –1 and +1: = = -.995 Finally, we can use covariance to tell how risky the entire portfolio is … Variance of a portfolio If N=2, If N=3, Last step: Take square root of variance to get standard deviation. Why are combinations of two risky assets concave? * Depends on extent of correlation between assets making up the portfolio … Assume that we have two assets (1 and 2), and the extreme cases of perfect...
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...Stochastic Frontier Analysis for Nigerian Agricultural Main Grain Crops: Translog Production Function The study employed one step regression method to simultaneous estimate the Translog Stochastic Frontier Analysis model and the inefficiency function model. The result of the Logarithmic Transcendental (Translog) Technology production function is presented on table 1. The coefficient of the variables of labour and planting materials were the two variables that were statistically significant though negative at 1% alpha level (P<0.05), indicating that the normal truncated distribution is more appropriate to the semi-normal distribution. The positive sign of the parameter of time trend (T) in the model in table 1, indicates a technical progress...
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