Seven Wonders of the Ancient World Essay Example Essay Example

Seven Wonders of the Ancient World Essay Example Paper Seven Wonders of the Ancient World Essay Introduction The Mausoleum at Halicarnassus was the tomb of king Mausolus. Halicarnassus (Modern Bodrum, Turkey) was the capital of a small Mediterranean kingdom. In 377 B. C. , Hecatomnus of Mylasa, the ruler of this land, died and left control of the kingdom to his son, Mausolus. Mausolus’ reign lasted for 24 years. He loved and adored the Greek culture and founded several cities of Greek design along the coast. In 353 B. C. , Mausolus died, leaving his queen Artemisia broken hearted. She decided to build the most splendid tomb in the known world as a tribute to him. The tomb became so famous that Mausolus’s name is now associated with all stately tombs throughout the world as Mausoleum. It became one of the seven wonders of the ancient world because of its rich statuary and carvings in relief. Artemisia sent messengers to Greece to find the most talented sculptors; she decided that no expense was to be spared in building the tomb. The tomb was errected on a hill overlooking the c ity. Seven Wonders of the Ancient World Essay Body Paragraphs The entire structure sat in the center of an enclosed courtyard on a stone platform. A staircase, flanked with stone lions, led to the top of this platform. There were many statues of gods and godesses along the outer wall of the courtyard. The tomb was guarded by stone warriors mounted on horseback at each corner stone. [pic] The tomb itself was at the center of the platform. The marble structure rose as a square, tapering block to about one-third of the Mausoleum’s 1140 feet height. This section was covered wit relief sculptures showing action scenes from Greek mythology. Thirty-six slim columns rose on top of this section for another third of the height. Between each column were more statues. A solid block behind the columns carried the weight of the tomb’s massive roof. [pic] Map showing the layout of the Mausoleum at Halicarnassus Artemisia died two years after Mausolus’s death. Both of them were buried in the yet unfinished tomb. The craftsmen took up the r esponsibility of completing the structure. The Mausoleum overlooked the city for several centuaries before it was damaged and destroyed by attacks from pirates, invaders and series of earthquakes. Very similar to this ancient wonder is the Taj mahal in India. TAJ MAHAL Like the Mausoleum at Halicarnassus, the Taj was built in the memory of Shah Jahaan’s beloved wife, Mumtaz Mahal. It was and still continues to be a symbol of eternal love. The Taj also is a marble structure standing on the banks of River Yamuna. It rises ona high sandstone base topped by four tappering minarets. The jewel-inlaid cenotaph of the queen lies within the dome. The design on the stucture is said to be so exquisite that the Taj has been described as â€Å" having been designed by giants and finished by jewellers† pic] STATUE OF ZEUS [pic] The statue of Zeus is located in Peloponnesus. The statue stands 40 feet high and is made of ivory and gold. Zeus is depicted sitting with olive wreath on hi s head, a sceptre (with an eagle sitting on it) in his left hand, and his messenger Nike in his right hand. The temple is built on a raised rectangular platform. Thirteen large columns support the roof along the sides and six support it on each end. A gently peaked roof the topped the building, which was filled with sculpture. However, now the statue stands destroyed by numerous earthquakes and conquests. SHIVA STATUE AT MURUDESHWARA [pic] The Shiva statue at Murudeshawara is very similar to the statue of Zeus. However, in this case, the statue is outside the temple. The statue of Shiva measures 123 feet in height. The statue is constructed in such a way that it gets sun light and thus appears sparkling. The temple has the tallest gopura in the world too. It is 249 feet high and is called the Raja Gopura. There are other small statues surrounding the main Shiva statue. There is one depicting Ravan giving the atma-lingam to a Brahman. There are many statues of elephants (life size ), and the holy bull, Nandi. TEMPLE OF ARTEMIS [pic] The temple of Artemis was built in the honour of Artemis. It is 425 feet long and 225 feet wide. The foundation of the temple was rectangular in form, similar to most temples at the time. Unlike other sanctuaries, however, the building was made of marble, with a decorated facade overlooking a spacious courtyard. 127 columns, each of which is 60 feet high, support the roof. This temple was built and destroyed several times. The temple was built in such a way that one could see the other side through the temple; it was like a hollow structure. Thus, when the sun rose and set it felt as though it was happening inside the temple. PARTHENON [pic] The Parthenon was built for the Greek goddess, Athena. Structurally, it is very similar to the temple of Artemis at Ephesus. The Parthenon is a temple of the Doric order with eight columns at the facade, and seventeen columns at the flanks, conforming to the established ratio of 9:4. This ratio governed the vertical and horizontal proportions of the temple as well as many other relationships of the building like the spacing between the columns and their height. The Parthenon, in comparison with the temple of Artemis however, is only 100 feet wide, 230 feet long, and has 58 pillars. Ubud Hanging Gardens, Bali If Babylon’s ancient Hanging Gardens existed today, they could definitely look something like this. Perched around an Eden-like gorge are 38 serene villas, a soothing double-tiered pool, and a Hindu temple; you’ll need to take a funicular from reception to your suite, and most everywhere else (though a few hundred stairs will take you to the bottom of the valley if you are up to adventure. Each villa has its own private heated infinity pool, looking out over the verdant gardens of the valley and bordered by an outdoor terrace. There is step greenery and vegetation just like the supposedly floored gardens of Babylon. It is today one of the hottest tourist destinations in Bali. [pic] [pic]Bottom of Form The Lighthouse of Alexandria, Egypt. (Ancient wonder) [pic] One of the Seven Wonders of the Ancient World, the Lighthouse of Alexandria was built in 200 BC on the small island of Pharos and was connected to the mainland by a massive causeway. Thought to have stood 492 feet high, it is considerably taller than any modern-day lighthouses. Though it has been lost in the pages of history and there is no concrete proof about whether it really existed or not, many claim you could see the light beacon from 35 miles away and that the structure had unique Roman features including a statue of Poseidon, a mirror that would reflect the sunlight, four statues of Triton on each corner and a church located at the top. Unfortunately, after years of destruction from earthquakes, the building collapsed in the 4th century, most probably due to an earthquake. The lighthouse served the purpose of warning the ships and showing them the way. At that time, it was an architectural marvel, indigenous and with a well-defined new idea. Lighthouse of Alexandria, Shenzhen, China. The Window of the World is a theme park located in the western part of the city of Shenzhen in the People’s Republic of China. It has about 130 reproductions of some of the most famous tourist attractions in the world including an exact replica of the Lighthouse of Alexandria. Built by an eccentric businessman, it does or does not do justice to the original monument that has long been destroyed, is debatable. The monument though has been built to scale in comparison of the original Lighthouse of Alexandria. Due to the prevalence of other replicas of ancient wonders and modern wonders of the world, Window of the World is a major tourist hotspot of Shenzhen. [pic] The inspiration for the statue of liberty the Colossus of Rhodes. How often do New Yorkers and other Americans gaze at the Statue of liberty with pride and amazement! Standing on a small island in the harbour, the statue is of a robed and crowned woman, holding a book in one hand and lifting a torch to the sky. The statue measures almost one-hundred and twenty feet from foot to crown. This awe-inspiring statue was a gift from France to America as a symbol of friendship. It is often referred to as â€Å"The modern colossus. † However what most people don’t know is that there stood an ancient statue in Rhodes named â€Å"The Colossus of Rhodes†; The original colossus. Like the Statue of Liberty, this colossus was also built as a celebration of freedom. This amazing statue, standing the same height from toe to head as the modern colossus, was one of the Seven Wonders of the Ancient World. The statue was built sometime between 292-280 BC to celebrate the surprising victory of Rhodesians against many attackers. It was the statue of HELIUS The Sun God to The Rhodesians. The engineering of the colossus was done by a local sculptor named Harrays. First a wooden frame was made and then bronze plates of over 200 tons were put up surrounding it. This took about 12 years and innumerable labour to complete the construction. However in about 226 BC there was an earthquake in Rhodes that the statue couldn’t survive. On the other hand The Statue of Liberty was built around 2000 years later and still stands with pride looking over the sea. [pic] | | | | The inspiration for the pyramids of louvre- Paris. The pyramids of Giza. The Great Pyramids were built between 2650-2500BC. It is said that they were a tomb of Pharaoh Khufu. They are located in Giza, Egypt. The largest pyramid is 756 feet long on each side and 450 feet high and is composed of 2,300,000 blocks of stone, each averaging 2 1/2 tons in weight. The sides are oriented to the four cardinal points of the compass and the length of each side at the base is 755 feet (230. 4 m). They rise at an angle of 51 52†² to a height, originally, of 481 feet (147 m) but nowadays 451 feet (138 m). D espite the makers’ limited surveying tools, no side is more than 8 inches different in length than another, and the whole structure is perfectly oriented to the points of the compass. Even in the 19th century, it was the tallest building in the world and, at the age of 4,500 years, it is the only one of the famous â€Å"Seven Wonders of the Ancient World† that still stands. Even today it remains the most massive building on Earth. About 4000 years later, in 1989 The pyramid of Louvre museum was built by the renowned American architect I. M. Pei. This time a pyramid made up of crystal clear glass to allow the sunlight to come in on the underground floor. It is made up of rhombus shaped glass sheets fitted in a triangular shaped framework. The modern addition originally received mixed reviews, as it contrasts sharply with the classical design of the surrounding buildings of the museum of Louvre, but today it is generally accepted as a clever solution which has given the museum a spacious central entrance without the need to touch the historic patrimony. Surprisingly it too serves as an entrance to the museum like the pyramids of Giza serve as entrances to the tomb of Pharaoh Khufu. Hence because of the similarities one comes to believe that it was built by the inspiration by the pyramids of Giza. We will write a custom essay sample on Seven Wonders of the Ancient World Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Seven Wonders of the Ancient World Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Seven Wonders of the Ancient World Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

A quick simple guide to becoming healthier and happier at work

A quick simple guide to becoming healthier and happier at work We spend almost 8 hours at work every day  and about 6 of those hours we are sitting at a desk with little to no activity. Sitting at a desk for long periods of time is not healthy for our bodies and it is not recommended. We need to get our blood flowing and while sitting in a bad posture and eating unhealthy foods does not help; we do have healthy alternatives. With little changes such as standing desks, 5 minutes of activity, and swapping sugary drinks for more water, we can help our bodies stay healthy. Being happy and healthy at work increases productivity and your overall mood at work. Healthy employees are happy employees! Here are some great tips for becoming healthier and happier at work.Source [ Ultimate Mats ]

English 101 Essay Example | Topics and Well Written Essays - 250 words

English 101 - Essay Example I discover they are so much like me and thus it provides me a chance to understand the diversity present within USA. I have made so many friends in a short span of time that I almost feel I do not need any more yet I know friends are less even when they are in numbers. I recognize my time was a sense of commitment and the hard work that I have to put in. This, I say because I know I have to prove my worth within the coming times of professional domains and for that I need to be punctual and on time, always. My life away from my family gets depressing at times but then again my friends and colleagues make it special for me. They make sure that they have some surprise in store to make me feel happy and satisfied at all times. I like the way people can easily meet and interact with each other, in USA. I dislike the way the immigration policies are the strictest in this country than anywhere else. The difficult things that I have felt here include my time at the immigration counter, the thorough checking and question-answer session and the way I need to properly document myself every month or so. However I love my life within USA barring these

History of canadian labour Essay Example | Topics and Well Written Essays - 500 words

History of canadian labour - Essay Example (Bitterman 4) Bitterman argues that many farmers began life in the Maritimes as employees, citing Jones’ three-tier system of those with capital who could hire other people, those who could support themselves and those who needed to off-farm work while undergoing the process of farm-making. He argues that thousands of people fell into this third category, thereby not having independence. Bitterman uses many primary sources to support this claim from document of the landlord John Cambridge to Lord Selkirk and the accounts of Kavanaugh. While these sources provide strong evidence for the initial dependence of early settlers on wages, they do not truly explode the myth of independence, since it is clear that often these dependencies were only true for as long as it took to establish the farm. Indeed Bitterman refers to wage work ‘in the early stages of farm-making’. (Bitterman 5). It is also necessary to consider the fact that these sources, while useful, are limited in scope and Bitterman expands this limited evidence to account for thousands of immigrants in this period. Bitterman also argues that independence varied depending on the yield and weather conditions and a family that one year was independent could be forced to seek paid work the next. He takes as evidence the observations of Baddeck who noted that even 30 years after settlement occupants of hundreds of farms in the area were not truly independent. Bitterman also traces the variety of labour opportunities available and the way in which the settlers moved between paid work and labour on their farms, using as evidence documents relating to the MacNutt farm among others. From ship building to textiles, the possibilities for paid employment are varied and Bitterman’s account is compelling in its completeness and usage of primary sources. However Bitterman accepts that the calculations of the degree of dependency of farmers on wages

Chinese Business Essay Example for Free

Chinese Business Essay Introduction It is often argued that when business persons of different cultures negotiate commercial deals, there is bound to be a culture clash. I disagree with this view. It is true that cultural differences influence business negotiations but with the appropriate approach to deal with the differences, culture clash is to be least expected in any business negotiations, especially with the Chinese. As Sun Tzu would advised in his book The Art of War â€Å"Know your enemy and know yourself and you will win all battles† (Sun Tzu 1913). According to Newstrom and Davis (2002) there are many striking differences across countries, just as there are some surprising similarities. Clearly, residents of each country have their own preferences for clothes, food, recreation, and housing. In his research about national cultures of sixty countries, Hofstede (1993) revealed that cultures differ in five key factors namely, individualism/collectivism, power distance, uncertainty avoidance, masculinity/femininity, and time orientation. Among these factors, the Chinese have the culture that value clarity and have the kind of orientation that accent values such as necessity of preparing for the future, the value of thrift and savings, and the merits of persistence. Literatures on different cultures also classify China as high-context culture which tends to emphasize personal relations, place value on trust, focus on non-verbal cues, and accent the need to attend to social needs before business matters (Newstrom and Davis 2002). Culture is very important in certain country such as China. Huntinghon (2000) as cited by Fellner (2008) defined culture as the values, attitudes, beliefs, and underlying assumptions prevalent among people in a society. He stressed that culture is dynamic, interactive, and synergistic, and intermixes with all the elements of the society such as business and economic development (Huntinghon 2000; Fellner 2008). Huiping (2009) stated in her article entitled Understanding Chinese culture leads to business success with China’s growing significance as an economic superpower  understanding the Chinese psyche becomes very helpful and useful in business negotiations management of supplier relations and many other business situations. As emphasized by Uthaisangchai (n. d. ), Chinese history and culture has impact on the way they do business and each of the many elements of the Chinese culture has a role to play in today Chinese business world. In Hofstede’s (1980) theory of individualism-collectivism as cited by Jones (2009), the individualism and collectivism dimensions differs on the degree a culture is committed to an in-group such as extended family, company or village. In the individualistic society, people are less attached to an in-group (that is, people are more self-centered and in pursuit of their own self-interests). Meanwhile in the collectivist society, people are more attached to an in-group, that is the interests of the in-group come first. Jones (2009) also noted from Hofstede and Bond (1988) that such value of collectivism likely stems from a deep rooted, ingrained culture based on the traditional philosophy of Confucianism. Uthaisangchai (n.d,) gave emphasis of the teachings of Confucius in the development of the culture of Chinese. In the article entitled Connecting Confucianism, Communism and the Chinese Culture of Commerce, Keller and Kronstedt (2005) explained that Confucianism is a very important component of the Chinese culture. â€Å"In a Confucian society, everyone has a role to play, and the key relationship is built around the family†¦ Chinese cultures value family connections and protecting relationships (saving face). Developing ‘family-like’ relationships takes time and patience, not merely a contractual deal based solely on money. If one has to do business in a Chinese culture, it is critical to understand and respect Confucian values† (Keller and Kronstedt 2005). Keller and Kronstedt (2005) further emphasized the significance of connections-Guanxi. In Confusian-based society like China, guanxi or proper connections are more crucial than price, product, place, etc. According to Jones (2009), China is known for being loyal to their in-group’ and favoring them in business related decision. As given emphasis by Li (2008) as cited by Jones (2009), understanding the guanxi is critical for conducting business in China and it involves cultivating trust, credibility and reciprocity. One way to understand cultural differences is through the concepts of high-context culture and low-context culture. The notion of ‘context’ can be understood as the social environment in which a business transaction takes place. Edward T. Hall’s theory of high- and low-context culture explains the powerful effect culture has on communication. The countries classified as high-context cultures include China, Korea, Japan, Middle East, Africa, Italy and South America in which people are characterized as collectivists, relational, contemplative and intuitive. This implies that the people in these societies put emphasis on good relationship between members of the society. In relation to business transactions, the development of trust is a very important step. Hall (1976) argued that the people in high-context cultures prefer harmony in group and agreement for the achievement of individual members; also individuals make decisions based on their feelings or intuition. The theory further emphasized that individuals focus on non-verbal cues, that is, words are not so significant in communication as compared to context; rather, more is given emphasis on context which include facial expression, tone of voice of the speaker, posture, gestures, and family history and status of the individual. The communication in the high-context culture is depicted as formal and indirect, which suggests that flowery humility, flowery language, and apologies that are often too elaborated are common. Also, communicators in this type of culture do not depend on language precision and legal documents. Meanwhile, the countries classified as having low-context culture include Germany, North America, Finland, Canada, Norway, Denmark, and Sweden are linear, logical, action-oriented, and individualistic. Individuals in the low-context countries value facts, logic and they prefer directness. Finding solutions to problems involves identifying and enumerating all the facts and evaluating each of the options. Also, each decision is based on facts; more often each discussion ends with an action. Communicators in this type of culture are anticipated to be concise, straightforward, and efficient in conveying the action that is expected. According to Hall (1976), communicators have to be precise in the words used in communicating to be absolutely understood. All negotiations are always concluded with definite contracts. Summing up the differences, on the one hand, high-context cultures tend to emphasize personal relations, place high value on trust, focus on nonverbal cues, and accent the need to attend to social needs before business matters. On the other hand, low-context cultures tend to interpret cues more literally. Individuals tend to rely on written rules and legal documents, conduct business first, and value expertise and performance. With these classifications of cultures, it is apparent that when Americans negotiate with Chinese, a failure in negotiation if not a culture is more likely if the former group is not familiar with the latter. As noted by Minor and Lamberton (2010) from an interview with intercultural communication expert ray Ruiz: â€Å"Countries in Latin American and Asia value the building of relationships, but each in their own unique way. Before traveling to another country, I would recommend reading appropriate materials and speaking with foreign nationals residing in the U. S. in regards to the customs and business practices in their country of origin. I would also suggest that, once in a foreign country, it is important to observe your host’s mannerisms and responses and respectfully respond in a like manner. Be well versed on acceptable and unacceptable behaviors. For example, when in Asia, do compliment and share your impressions of their country. Do not decline any food or drink because this is viewed as an insult. In Latin America, do begin all meetings with friendly conversation regarding family or other social topics. Do not begin a meeting delving directly into the business objective. The lesson many American business people fail to learn is that â€Å"it is all in the relationships† (Minor Lamberton 2010). In his article Doing Business In and With China: The risks are great, but so are the rewards, Atkinson (2004) noted from Stephen Nelson, the partner and co-head of the China practice group for the Hong Kong-based law firm Baker McKenzie, that when acquiring businesses in China, it is important to realize that there are perceived cultural differences. One of the important lessons in making business in China is that foreigners simply cannot enter a venture in China with only a cursory understanding of its terms and conditions. Atkinson (2004) cited an example of a US company that recently decided to make an investment in China by setting up a joint company through its Hong Kong manufacturing agent. The US company sent over $3 million worth of equipment, then came to us with documentation written in Chinese and asked ‘Can you look at this and tell us whether we really own 50 percent of this company? ’ Akgunes et al (2012) identified several points to consider for successful negotiations. According to Zhao (2000) as cited by Akgunes et al (2012), negotiations become successful when the participating parties are cooperative with one another; this can be done by applying the cooperative Confucian tactics. Also, for a western company like a US company, such company has to show that they have government support which is an indication that they are reliable, stable and credible to do business with. According to Fang (2006) as noted by Akgunes (2012), trust will lead to much better performance and being patient will be more beneficial to you than any other attribute you might possess. Bredin (1998) as cited by Akgunes (2012) also suggested that a foreign business negotiator should not give in to pressure from superiors to hurry up and complete the deal because can cause problems because the Chinese are not greatly concerned with the time dimension. There are companies that also failed to successfully negotiate business deals with the Chinese. According to Fang (2006) as cited by Akgunes (2012), the most common reason for failure is that the Chinese firm lacks the funds to go through with a deal. Also, sending a low-ranking employee to make the negotiation will be viewed as very impolite and the Chinese may find it insulting and insincere, in this case failure is also almost certain. Moreover, it is important to note from Sebenius (2002) as cited by Akgunes (2012) that Chinese law says that one cannot leave a contract unless both sides approve dissolution. Fang (2006) as cited by Akgunes et al (2012) also emphasized that Failure to say no to a Chinese negotiator who is using a Sun Tzu-like strategy could be detrimental to the deal, but on the other hand, saying â€Å"no† to a Confucian gentleman could cause a loss of face. This also will be very harmful, if not fatal, to a successful deal. The Chinese have regional areas just like the United States and there are very different cultures, traditions and sometimes languages in these regions. Not acknowledging these regions can cause you to have limited success in one area and a complete failure in another (Fang 2006; Akgunes 2012). Conclusion In conclusion, like what Sun Tzu have said in his book The Art of War â€Å"Know your enemy and know yourself and you will win all battles† (Sun Tzu 1913). This means that for companies to be successful in making business deals, having the capital is not enough to close a business deal. Knowledge and understanding of the culture of the prospect business partner is very important. Other than this, Sebenius (2002) emphasized that culturl allegiances are often not as simple as they appear. Designing the right strategy and tactics in reaching the right people, with the right arguments, will result to a sustainable deal. References Fellner, Amira 2008, ‘Role of Culture in Economic Development: Case Study of China and Latin America’, Graduate School Theses, University of South Florisa Schoalr Commons, viewed from http://scholarcommons. usf. edu/cgi/viewcontent. cgi? article=1235context=etd Hall, Edward 1976, Beyond Culture. Hofstede, Geert 1993, ‘Cultural Constraints in Management Theories’, Academy of Management Executive, pp. 81-94. Jones, Gwen 2009, ‘Differences in the Perceptions of Unethical Workplace Behaviors among Chinese and American Business Professionals, Competition Forum, vol. 7, no. 2, pp. 473-480. Keller, G. Kronstedt C. 2005, ‘Connecting Confucianism, Communicsm, and the Chinese Culture of Commerce’. Journal of Language for International Business, vol. 26, no. 1, pp. 60-75. Minor, Leslie Lamberton, Lowell 2010, ‘High-Context Low-Context Cultures’, viewed from http://www.cascadebusnews. com/business-tips/networking/154-high-context-a-low-context-cultures. Newstrom, JW. Davis, K. 2002, Organizational Behavior: Human Behavior at Work, McGraw-Hill Sun Tzu 1913, The Art of War. Uthaisangchai, Prasong (n. d. ), ‘The Importance of Understanding Chinese Culture’, viewed form http://www. bangkokbank. com/download/Week%2012%20Culture%20intro. pdf Huiping, Iler 2009, ‘Understanding Chinese Culture Leads to Business Success, Canadian HR Report, vol. 22, no. 12, pp. 18.

Plagiarism and the Internet :: Free Essays Online

Plagiarism and the Internet Plagiarism is a form of theft in which someone not only steals someone elseà °s words or ideas but pretends that they invented them. Plagiarism can result in lawsuits when copyrights are violated, such as in the case of 2 Live Crew who used a Roy Orbison song without consent of the copyright owner. The lines that draw this plagiarism trap are sometimes obscured, but are clearly articulated in resources such as The Hamilton College Honor Code. If instructors assign readings such as these, students will be without excuse for this common form of cheating. With the tools of today as given by the Internet, students have more information at their fingertips than ever before. Information and sources are easily acquired and many web sites are even open strictly for the use of plagiarizing, providing essays and reports students can copy. Teachers and professors could frustrate themselves by trying to find which particular website a student used to plagiarize. Surveys reflect the high percentage of exasperated teachers who feel defeated in this war against plagiarism (www.plagiarism.org/plagiarism_stats.html, p. 1 of 2). Can students act to remedy this problem? They can wage war against the websites that aid students in cheating by trying to expose them to higher authorities. This may lead to the closer observance of the forming of these websites and considerably lessen that form of plagiarizing. Teachers and professors could tailor writing assignments to make it harder to be plagiarized or put more of the weight of the grade on in-class testing. This particular writing assignment might be hard to plagiarize because it had specified topics with three issues to be addressed in relation to one another. Perhaps creative assignments would aid in the fight. Finally, students with

Is Gold a Safe Investment in the Current Economic Situation

Is gold a safe investment in the current economic situation? Global demand for gold has been on the rise and with good reason- the price of the precious metal has been consistently breaking new highs even though markets throughout the world remain weak (Lee, 2011). In the last decade alone, gold has achieved a 500% increase in value and more relevantly, it has soared from $1400 (an ounce) in January this year to a peak of $1920 (Prial, 2011). Thiru (2011) of Lloyd TSB, determined that gold has provided the best returns for investors in 2011 (as cited in Lee, 2011).However, distinguished private banks and investors remain cynical of gold’s invariable rise and have even deemed the asset as â€Å"the ultimate bubble that will eventually burst† (Soros, 2010; as cited in Conway, 2010). Despite the warnings of George Soros and Wells Fargo, the yellow metal continues to sustain its steady run and is, according to West (2011), looking stronger now than it has ever been in the l ast decade. This study aims to investigate the justifications behind gold’s rising value and will also consider the relevant refutations that discredit the commodity’s safe haven status.The recent appreciation in gold prices can be substantiated on a wide array of merits, disapproving the claims that the commodity is artificially overvalued. Firstly, as affirmed by Spall (2008), gold retains its value even during inflation and consequently, has become a popular avenue for wealth investment in periods of great uncertainty. Early signs of global economic instability induced the European Central bank to heavily reinforce its gold position more than 2 years ago (Prial, 2011).And while the Euro zone truly faces a deepened fiscal crisis, gold is becoming even more attractive still. Because most economies throughout the world remain weak, currencies such as the Swiss Franc, dollar assets such as US treasury bills and other investments that were once considered secure, have lo st the confidence and backing of investors. Alternatively, people look to gold as a stronger and safer investment. Ironically enough, economies that do manage positive growth, such as China and India, have also been witnessing rising demand for the yellow metal.In the case of India, this comes in the form of consumer goods such as jewelry. The People’s Bank of China has one of the lowest rates of gold reserves but is planning to double its issuance of gold bullion Chinese coins in the near future (Holmes, 2011). In the past the gold standard was used as a basis for exchange, but inefficiencies in substantiating the system saw the link between the US dollar and gold removed. Nonetheless, the value of gold still retains a strong correlation to the value of the dollar (Hajjar, 2011).With the Federal Reserve’s freedom to print money, the value of the dollar in circulation has reached trillions. Contrastingly, levels of gold production have remained moderately constant thro ughout time. The imbalance in the value of USDs versus the value of gold reserves, gives the commodity augmented capacity for further price increases. The soaring gold prices can also be explained by the unconventionally large amounts of quantitative easing that has taken place in recent years. Such a policy causes inflation and uncertainty, which in turn makes gold more popular.In late September, Ben Bernanke declared ‘Operation Twist’ -which would cease additional printing of money. Commodity markets responded poorly to the announcement, with gold devaluing by nearly 9% in just two days (Prial, 2011). Although gold prices eventually sustained in value and proceeded with its run, the commodity’s sharp plummet after a single policy revision creates doubt in the safety of gold investments. It also introduces the possibility that gold’s upward trend has been the result of risky commodity speculation.Nevertheless, by acknowledging the current level of economi c instability, lack in investment alternatives and unstable dollar value, the present high price of gold can be easily accepted. An educated guess would have me value the yellow metal at a stable $1700 an ounce by the end of this year. As long as market volatility persists, gold will be able to keep its high prices afloat and retain its position as a safe investment. If the commodity truly is in a bubble, then it is likely to burst- in a convincingly upward manner.