History of the Bicycle

A modern bicycle by definition is a rider-powered vehicle with two wheels in tandem, powered by the rider turning pedals connected to the rear wheel by a chain, and having handlebars for steering and a saddle-like seat for the rider. With that definition in mind, lets look at the history of early bicycles and the developments that led up to the modern bicycle. Bicycle History in Debate Up until a few years ago, most historians felt that Pierre and Ernest Michaux, the French father and son team of carriage-makers, invented the first bicycle during the 1860s. Historians now disagree since there is evidence that the bicycle and bicycle like vehicles are older than that. Historians do agree that Ernest Michaux did invent a bicycle with pedal and rotary cranks in 1861. However, they disagree if Michaux made the very first bike with pedals. Another fallacy in bicycle history is that Leonardo DaVinci sketched a design for a very modern looking bicycle in 1490. This has been proven to be untrue. The Celerifere The celerifere was an early bicycle precursor invented in 1790 by Frenchmen  Comte Mede de Sivrac. It had no steering and no pedals but the celerifere did at least look somewhat like a bicycle. However, it had four wheels instead of two, and a seat. A rider would power forward by using their feet for a walking/running push-off and then glide on the celerifere. The Steerable Laufmaschine German Baron  Karl Drais von Sauerbronn invented an improved two-wheel version of the celerifere, called the laufmaschine, a German word for running machine. The steerable laufmaschine was made entirely of wood and had no pedals.  Hence, a rider would need to push his or her feet against the ground to make the machine go forward. Drais vehicle was first exhibited in Paris on April 6, 1818. Velocipede The laufmaschine was renamed the velocipede (Latin for fast foot) by French photographer and inventor  Nicephore Niepce  and soon became the popular name for all the bicycle-like inventions of the 1800s. Today, the term is used mainly to describe the various forerunners of the monowheel, the unicycle, the bicycle, the dicycle, the tricycle and the quadracycle developed between 1817 and 1880. Mechanically Propelled In 1839, Scottish inventor Kirkpatrick Macmillan devised a system of driving levers and pedals for velocipedes  that allowed the rider to propel the machine with feet lifted off the ground. However, historians are now debating if Macmillan actually did invent the first pedaled velocipede, or whether it was just propaganda by British writers to discredit the following French version of events. The first really popular and commercially successful velocipede design was invented by French blacksmith, Ernest Michaux in 1863. A simpler and more elegant solution than the Macmillan bicycle,  Michauxs design included rotary cranks and pedals mounted to the front wheel hub. In 1868, Michaux founded Michaux et Cie (Michaux and company), the first company to manufacture velocipedes with pedals commercially.   Penny Farthing The Penny Farthing is also referred to as the High or Ordinary bicycle. The first one was invented in 1871 by British engineer James Starley. The Penny Farthing came after the development of the French Velocipede and other versions of early bikes. However, the Penny Farthing was the first really efficient bicycle, consisting of a small rear wheel and large front wheel pivoting on a simple tubular frame with tires of rubber. Safety Bicycle In 1885, British inventor John Kemp Starley designed the first safety bicycle with a steerable front wheel, two equally-sized wheels and a chain drive to the rear wheel.

The Triumph Of The Great Wall Of China Essay examples

The Great Wall of China has been called a wonder by many who have seen it. It brings pride to the Chinese nation, and is known for being the only man made structure visible from space. The magnitude of The Great Wall is an architectural achievement as well as an example of the will power of man. Many find it hard to believe that such an amazing sight could have a history so filled with death, slavery and sadness as The Great Wall does. The Great Wall of China is one of the worlds most famous architectural triumphs and has helped China throughout its history, even though its creation is marked by tragedy. There is a large dispute over how long The Great Wall of China really is. Estimates are given anywhere between 1,500 miles and 13,250†¦show more content†¦The Great Wall of China was instrumental in the evolution of modern wall building techniques. The Chinese traditionally used the hang?tu technique. This is when earth is put into wooden molds and beaten until it is as compact as possible. The molds are then removed and the hardened earth creates a wall. Some of the original earth walls stand as tall as 20 feet, and are as wide as 27 feet6. Earthen walls worked well in some areas but quickly eroded in desert areas. The Great Wall goes through a large variety of terrain, and there was a need for different styles of building. In the desert, there was a need for materials like wood and rocks to be put into the wall to make it erode slower. In the mountains harder materials like granite had to be used, so the wall would survive the harsh snowfall and wind. The Chinese wall buil ders were able to adjust their construction methods to fit each environment in which they were building. This changed the traditional approach to wall building. If a person were to walk the entire length of the wall, they would not only see a difference in the environment around the wall, but they would see the wall?s construction change to fit each environment. In order to build The Great Wall, the Chinese had to have an extremely organized government. The Great Wall was a huge project and needed to be overseen very carefully to avoid having large scale problems later. The enormous amount of money andShow MoreRelatedCultural Analysis Of China s History1341 Words   |  6 PagesCultural Analysis of China China’s history is the world’s oldest unbroken civilization dating back to at least four thousand years. Through these years, China came to develop several dynasties, with the first being the Xia Dynasty which was formed in 2000 B.C. Following the Xia Dynasty was the Qin Dynasty; main reason for this dynasty was to reform all the regions of China. The key contributing factor is in this successful event, was a Chinaman by the name of Qin Shi Huang. He was the soleRead MoreHistory : Genghis Khan, Julius Caesar, And Alexander The Great919 Words   |  4 Pageshroughout history, Genghis Khan, Julius Caesar, and Alexander the Great are successful conquerors in history. Genghis Khan a tyrant and a bloodthirsty villain during his period he conquered more territory than any other leader in history. Julius Caesar a great general that ever lived, he also knew how to elevate money for festivals and gifts. Lastly, Alexander the Great is a person who conquered many territorie s, had a large empire, formed the Hellenistic culture, and became very successful. E.HRead MoreTaking a Look at the League of Nations841 Words   |  3 Pagespurpose of maintaining peace and development among all countries of the world wish to join the organisation, open diplomatic relations. 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Would you use Keynesian Policy Free Essays

1. Would you use Keynesian Policy? Explain Keynesian Economics in 10 lines or less. Keynesian Economics, broadly speaking, is a macroeconomic approach that advocates active government intervention in a country’s monetary policy in order to ensure the best economic outcome. We will write a custom essay sample on Would you use Keynesian Policy? or any similar topic only for you Order Now This produces a mixed economy, where both the private sector and the government control market conditions. In order to ensure economic growth and stability, governments impose policies that could stimulate the economy towards their desired ends. In a recession, stability can be achieved through tax breaks and government spending; in an economic upturn, this can be   done though tax hikes and cutbacks on government spending. Keynes, the theory’s proponent, believes that trends in the macroeconomic level can influence the spending and market behavior of individuals, and that the government plays a crucial part in instigating these trends by adjusting the economy’s general equilibrium. 2. Would you use Supply Side Policy? Explain this Economic Policy in 10 lines or less. The supply-side policy holds that influencing the supply of goods and services will lead to economic health. It emphasizes the supply, rather than the demand stimulus towards economic activity. Its conjecture is that if individuals have the means to buy, demand will be created. Supply-side economics thus focuses on policies that raise production capabilities for lowering the cost of products and controlling inflation. Supply side economists believe that high taxes increases the costs of production, thereby reducing the incentive to work and to invest. As such, they advocate policies that lower taxation rates in order to raise labor outputs and market capitals. 3. Would you use Monetarism? Explain this policy in 10 lines or less. The doctrine of Monetarism places emphasis on controlling the domestic money supply for promoting growth and maintaining economic stability. Monetarists believe that regulating the national income is the primary means for improving economic activity. It holds that instability and market changes such as inflation are due to fluctuations in the money supply, specifically, that these changes came as a result of the money supply being larger than the demand. By this assumption, increasing or decreasing the money supply, rather than raising taxes, will keep inflation in check. This is usually done by maintaining price stability and steadily increasing the stock of money in a moderate manner. 4. Would you use a combination of some or all of the above? Explain their main differences in 16 lines. Among the three macroeconomic policies, I believe a combination of Keynesian and Monetarist approaches will do best in achieving economic growth and stability.  According to the theory of Monetarism, inflation is an effect of the supply of money exceeding the demand. As such, regulating market prices is the best way of controlling inflation. But while Keynesian economics focus on the stability of currency, Monetarism focuses on price stability, which is achieved through maintaining money’s supply-demand equilibrium. Keynesian economics supports government manipulation of market conditions by way of   monetary policies based on real aggregate demand. When there is economic recession and inflation, it advocates higher taxes in order to curb individual spending. But aside from the monetary angle, it also employs fiscal strategies, those that relate to government spending, revenues, and debt. Supply-side economics is concerned with policies that produce more incentives for work, rather than stimulate demand. The emphasis on the supply factor is the main difference between the Supply-side and Keynesian theories. Proponents of supply-side economics believe that increasing taxes will only cause revenues to fall, therefore, reducing it will do more good by generating economic activity. However, I believe that this will not increase the supply of labor and services substantially. Lower taxes does not necessarily mean that individuals will choose to be more productive. Moreover, huge tax cuts can cause enormous deficits in the federal budget. 5. Given the economic model/theory, you choose to work with, explain your economic strategy for the next four years.  In the next four years, I aim to guide the nation towards having a strong and stable financial system. This means that in economic trems, stable prices are maintaned, inflation lessened, and long-term interest rates are moderated. I also aim to keep unemployment to a minimun, or better yet, lower than the current rate of 5.10%. I propose to achieve these things though policies that follow and Monetarist and Keynesian principles. We can best promote a progressive climate by maintaining an environment of low inflation. An important reason for keeping inflation low is that businesses will be able to foresee substantial future benefits if they are to be willing to bear the long-term risks that are associated with creating new enterprises, and expected low inflation affords them a clearer view of projected benefits. The Monetarist theory holds that variations in unemployment and inflation rates are caused by changes in the supply of money, and that inflation is a purely monetary phenomenon—this means that if the money supply does not change, the price level remains the same. Therefore, regulating the money supply will ensure a stable economic preformance. The money supply can be balanced through the buying and selling government bonds and securities. By buying securities, the government increases the money supply, thus lowering interest rates. On the same note, when it sells securites, the money supply becomes tighter. Using the Keynesian perspective, rising inflation levels can be curbed by imposing higher taxes to lessen demand and stabilize economic performance. This can also reduce the money supply so that interest rates will go up, making it harder for firms and consumers to obtain money, thereby reducing aggregate demand. Since the current rate of inflation is on the rise, I propose higher interest rates in order to lessen spending. This can also be done by regulating reserve requirements of member banks, affecting interest rates. When banks reserves are lower, there is a limited amount of money to go around so interest rates go up. This usually affects the amount of money banks lend to consumers and firms. When interest rates increase, consumers are less willing to borrow money to spend on goods or services. I expect the above measures to decrease inflation and increase employment rates, which means that the total market value of all the goods and services will also increase. This translates to a higher GNP. Higher taxes would also lessen the budget deficit, and since the deficit is financed by borrowing, the country’s debt will decrease as well. As for productivity, I also expect it to increase. The link between costs and   productivity is usually a positive one. Productivity helps offset costs so if inflation is low, it means that productivity is high.  If my strategy does not work and my inflation and unemployment goals were not reached, I may opt for deficit spending in order to stabilize the economy. While deficit spending can catalyze negative effects, under certain conditions (such as in a recession), it can help the economy cope. Since the money used to finance deficits usually come from foreign governments and institutions, it would be to the economy’s advantage if   they can be convinced to support my proposal.. Economic indicators, dictate how the policies are implemented. However, globalization can make it harder to determine the extent of economic manipulation that is needed to promote economic growth. A global market changes the dynamics of traditional economic systems, making economic outcomes more difficult to predict. Prices of products and services are now increasingly determined by market factors aside from those within the country. Thus, intervening with the money suppy may not be an accurate response to certain economic situations. Emerging economic trends and indicators should be taken into account regarding government policies and decisions. 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Financial Management for Policies and Practices- myassignmenthelp

Question: Discuss about theFinancial Management for Policies and Practices. Answer: The Importance of board of directors for public- listed company . Boards of directors is a group of people who take into consideration the operations and activities of the organization. In public limited company, there should be minimum 2 directors. The directors are the important part of the organization as the decisions are made by them in operating the functions of the company. They are appointed so that they can act on the behalf of the shareholders to run the day to day activities. They are liable to the shareholders and every year the company conducts the annual general meeting in which the directors give a proper report that is based on the performance of the company. The vision and mission of the company are determined by the directors by taking into consideration the current operations and development. The board of the directors determines the values that should be promoted in the company. The significant role that is played by the board of directors is related to determine the company goals and policies so that the profitability can be attained. The key role of the directors is to take into consideration the prosperity by considering the company's affairs that fulfill the requirements of the shareholders. To enhance the image of the organization in an effective manner the boards of directors are responsible and also they try to minimize the threats and risks in the external environment (Masulis Mobbs, 2014). The financial and non-financial transactions of the company are evaluated by the board of directors. The employees work according to the directions implemented by the directors. If boards of directors are not there in the organization, the n it can be very difficult for the organization to sustain in the market. The legal responsibilities of the company are taken into consideration by the boards of directors. The decisions of the organization are also taken by them. To implement something new in the organization, then it is essential to take approval from the directors of the company. Without the approval, the company cannot follow any new structure (Krause Bruton, 2014). To manage the authority of the management and also to implement the strategies and business plans the boards of directors are involved in it. Communication with the senior management is also done by them so that the profitability can be enhanced. A director considers the affairs of the company and should also trust the employees. If there is no trust between the management and the directions the activities cannot be conducted effectively. They are also considered as an essential mechanism for evaluating the performance level of the managers and also to safeguard the interest of the shareholders (Zona, Zattoni Minichilli, 2013).There are various organizations in which the law can be seen that create balance between the managers and the directors so that the company can manage the profits and also prevent abuse of the freedom. The main importance is to manage the books of accounts. So, it is evaluated that the directors are an essential part of the public limited company, as all the a ctivities are conducted under their supervision (Tricker Tricker, 2015). References Krause, R., Bruton, G. (2014). Agency and monitoring clarity on venture boards of directors.Academy of Management Review,39(1), 111-114. Masulis, R. W., Mobbs, S. (2014). Independent director incentives: Where do talented directors spend their limited time and energy?.Journal of Financial Economics,111(2), 406-429. Tricker, R. B., Tricker, R. I. (2015).Corporate governance: Principles, policies, and practices. Oxford University Press, USA. Zona, F., Zattoni, A., Minichilli, A. (2013). A contingency model of boards of directors and firm innovation: The moderating role of firm size.British Journal of Management,24(3), 299-315.