How the New Deal Failed to Achieve Its Objectives

â€Å"The New Deal failed to achieve its objectives† The ‘New Deal’ was introduced by Franklin D. Roosevelt in 1933, in his first 100 days in office. The new deal was based upon a series of economic programmes implemented in the United States by the federal government. Importantly, part of the new deal was based on the ‘Alphabet Agencies’ which were numerous amount of authorities/acts which were set up to either provide relief (for the people who had been affected by the great depression), reform (changing things to stop another crash from happening) and recovery (getting the economy going again). The main purpose for the New Deal was to get the economy going again and to give people the confidence again to spend. Even though this looked†¦show more content†¦Even though this being said, the Alphabet Agencies only provided short-term jobs, such as building roads and schools; once they were built people were out of jobs again. People were enjoy ing being back at work again, but sooner than they knew it they were back on the dole. In 1937, there were still 14 million people out of work, and the number reached to 19 million the following year. Once again, the new deal did not solve the problem of unemployment, but merely made the situation not as bad as it was. Industrial workers were also helped in the New Deal. The NRA and the Second New Deal greatly strengthened the positions of labour unions and made co-operations negotiate with them. Although, the new deal failed as unions were still treated with great suspicion by employers. Indeed, many strikes were broken up with brutal violence in the 1930’s. Large co-operations employed ‘heavies’ to deal/ take care of the union leaders, and sort of protect them from any disruption being made, which lead to being that unions were useless. 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Econometrics and financial statistics analysis Essay

Essays on Econometrics and financial statistics analysis Essay ASSIGNMENT Testing for the presence of Unit Root: Viewing the trends of the data and the series, it has been established the data presented has been quite helpful in establishing a viable basis for forecasting purpose. The return data of two companies i.e RETEDIN and RETFTSE ALLSHARE help provide us series. Methodology: In order to smooth the data series data and establish a more meaningful series for forecasting purposes, we should first taken quarterly averages of the data series by taking the average of the three months across each quarter. Following that and as per the protocols defined by Koop (2003, p 154-156), we can conduct a unit root test for each of the two variables first to establish whether or not the the series have a unit root. In order to test the series for a unit root, we can use use The Dickey-Fuller unit root test which can be applied. In order to do the Dickey-Fuller test on , we can use the following regression: (theorangedog.net) , and test the hypothesis that . If we can’t reject the null hypothesis, we say that the series has a unit root. In order to do this test in Excel, we computed . Our X variable is ‘’, for t –1 = 1,†¦,65 (or t = 2,†¦, n). In other words, we are regressing on lagged values of . Identify an appropriate univariate model for the estimation of each return series. Comment on the procedure adopted and pay particular attention to the identification, estimation and diagnostic stages of the modelling process. We can establish a univariate regression model for estimating the returns on each series. In developing this model, we can use quarterly average data series as Y or dependent variable, and RETEDIN series as X1 or first independent variable and RETFTSE ALLSHARE series as X2 or second independent variable. We can also calculate the correlation coefficients and coefficients of determination between the Y series with each of the two return series. After reviewing the statistics that validate the model, we can use this model to forecast returns. If these forecast figures show a narrow error margin, it indicates that the model developed is a robust one. Estimate the beta value for your share using a ‘market model’ specification and check the adequacy of the model using appropriate diagnostic tests. The beta value (ÃŽ ²) or the slope of the returns series of the market model can be calculated using the linear regression based on least squares method and the resulting coefficients of the intercepts and slope along with their related t-statistics and p-value will indicate the validity of these estimates. If the p-value of the estimated beta values is less than 0.05, we will conclude that the beta value estimate calculated by our model is valid and adequate for our purpose on hand. Explain what you understand by the term ‘stock market crash’. In September 2001 there was a significant stock market downturn. Using appropriate econometric techniques, test whether this event caused a significant change in the beta value of your share during the sample period. Comment on your results. According to investopedia.com, a stock market crash refers to a significant drop in the total value of a market in a relatively short span of time and be attributable to a bubble, thus leading to a financial situation wherein all the majority of investors are obliged to try to leave the market at the same time with the result that they have to reduce their stock prices. The beta value of our share must be negative in timers of economic downturn or stock market crash of 2001. A negative beta value with a p-value of less than 0.05 would indicate that the probability that the estimated beta value is erroneous is less than 5%. Thus the 95% confidence level can be attached to state that the stock market crash affected a trend in returns on the stocks of the two companies or our data series i.e RETEDIN series and RETFTSE ALLSHARE. References: 1. Koop, Gary. (2003) Analysis of economic data, 2nd edition: John Wiley Sons 2. Hill, Griffiths, Judge Undergraduate Econometrics 3. â€Å"How to do a ‘Regular’ Dickey-Fuller Test Using Excel. Downloaded from: theorangedog.net/wp-content/uploads/.../dickey-fuller-example.doc (accessed: 20.05.2011) 4. onlineregression13:    Multiple linear regression http://onlineregression.sdsu.edu/onlineregression13.php Accessed: (20.05.2011) 5. http://www.investopedia.com/features/crashes/crashes1.asp#axzz1tCUFb2Aj

Poetry and Painting Free Essays

Analysis on the Relationship Between Poetry Painting An analysis on the relationship between poetry and painting Lope De Vega, in one of his sonnets, refers to two famous contemporaries in a striking way; he calls the Italian poet Marino â€Å"a great painter for the ears† and the Flemish painter Rubens â€Å"a great poet for the eyes†. Six hundred year and 6000 miles away, a similar concept occurs in a parallel situation. The Chinese poet Su Shi, in one of his poems, praises two men, one a poet and the other a painter: â€Å"Tu Fu’s poems are figureless paintings, Han Kan’s paintings are wordless poems. We will write a custom essay sample on Poetry and Painting or any similar topic only for you Order Now In both poems, a very special relationship is established between poetry and painting. They are considered parallel and comparable; more than that, they take each other’s place. A comparative treatment of the same phenomenon in two widely seperated and obviously unrelated literatures may bring out siginificant differents as well as integritions. Actually, the conversation between poetry and painting has been through centuries, traced back to 6th century until now, different people have different opinions. For Plato, poets and painters are both imitators and their work a third-generation removed from the truth. For Aristotle, â€Å"The poet being an imitator just like the painter or other maker of likenesses, he must necessarily in all instances represent things in one or other of three aspects, either as they were or are, or as they are said or thought to be or to have been, or as they ought to be. † More than five hundred years ago Leonardo da Vinci entered into a stinging debate with a bunch of pompous poets who degraded painting as a mechanical art. Defending the primacy of art, Leonardo—painter, architect, scientist, and a genius of high Renaissance—snapped: â€Å"If you call painting dumb poetry the painter may call poetry blind painting. † He argued that a good painter can provide a more intelligible and beautiful sense experience than a poet because painting satisfies the eye whereas poetry appeals to the ear and seeing is superior to hearing. In the 18th century the playwright and philosopher Gotthold Lessing described the intrinsic difference between ainting and poetry in terms of the distinction between image and word. He rejected the ancient belief that these two arts are in fact similar, or as the Roman poet Horace put it: Ut pictura poesis (painting is like poetry). Lessing also pointed out that the domain of painting is space while the domain of poetry is time. In my opinion, transfering a poem exactly to another form is quite an impossible task because of the unique nature of every vernacular and their peticular idioms. And on the other hand, painting as an art form is unique as well. It can portray astonishingly beautiful or ugly people, or show breathtakingly magnificent or depressingly dull landscapes and still lives and other visual phenomenon, which defy exact verbal description. Generally speaking, objects of the visual world can be represented in painting more accurately than in words. However, poetry has the upper hand in describing emotional states and mental events. A comparison of these two art forms reveals that in many ways both poetry and painting resist conversion, and they mutually defy transference into each other. However, despite their irreconcilable differences, painting and poetry share many common attibutes. With the development of literature and enlargement of understanding about this world, we have to acknowldge the integration of poetry and painting as well. Through five thousand years of continuous civilization, Chinese art has developed a rich language of symbols. By the second century the image of falling leaves, for instance, had become a metaphor for troubled times in which great talent was cast aside and unjustly punished with exile. Magnificent flowers often symbolize beautiful ladies. Rising above a lake they may represent fairies with red hair spins walking above the water and one single lotus flower in the Hua Qing Pool is like the entire world. In spite of its fragmentary posture western culture has produced great artists excelling in different branches of art. Among painters and poets the oeuvre of such artists as Michelangelo, Goethe, William Blake, Apollinaire and Picasso shows the unity of painting and poetry. As the proverb goes, â€Å"there is a poem painting, painting in poetry†. A successful poem, in my perspective, is the one with a relative aesthetic painting in our mind when we read it. That is what we called in Chinese Yi Jing. For example, a famous poem in China â€Å"Shi Zhi Sai Shang† written by Wang Wei, which gives us a picturesque painting in our mind immediately: the desolation and broadness of a frontier fortress, a puff of smoke and the setting sun†¦In terms of painting, painter integrates with poetic beauty. In Song dynasty, the task for getting a professional painter certification required examine to draw a painting according to a piece of poem. Poetry enters the painting, bringing the creativity into the painting. Even the limit of time can also be overcome. In conclusion, although poetry and painting have some differences, they both are important literature forms, we pay more attention to what they bring to us. In my vision painting and poetry invite us to step into a deeper level of reality that lies under the peel of surface appearances. The creativity power of art can play a significant role in ameliorating the human human condition, in making the planet a habitable and welcoming environment for ourselves and for future generations. Without concern, responsibility, care, compassion and love we cannot survive. How to cite Poetry and Painting, Papers