Saturday, January 25, 2020
Analysing the Concept of Informed Consent in Healthcare
Analysing the Concept of Informed Consent in Healthcare Chapter 1-Introduction 1.1 In modern society, everyone has the basic right to consent to medical treatment. However, this is a recent development as consent was not always considered a critical issue in medical treatment. Hippocrates himself, advised doctors that they should conceal the effects of medical treatment from their patients, his reasoning being he believed that when patients were given relevant information they would take a turn for the worse. It was not standard practice for patients to question a doctors decision or authority. Recent changes have contributed to this change in attitude and as such altered the method of practice of a doctors obligation. The final years of the twentieth century as witnessed the most dramatic shift in the reputation of the medical profession within the United Kingdom, due to scandal after scandal plaguing doctors. Major news headlines left the doctor-patient relationship in a state of concern, for example, Doctors who steal organs face jail.This headline refers to the Bristol and Liverpool Hospital where it was discovered that they were retaining childrens organs, without consent or knowledge of the parents. It became apparent in the Bristol and Liverpool reports that organ retention, of both children and adults was widespread practice. Another significant humiliation for the medical profession was the case of Harold Shipman, a general practitioner who was convicted of murdering fifteen of his patients. Whether these circumstances are due to the actions of individualist or media influence makes little difference to the effect they had on societys viewpoint. There was need for change and this brought about the introduction of regulations and guidelines that protected both the patient and the doctor. 1.2 Informed consent was seen to break the doctor knows best concept and established a liberated choice for the patient. The locus classicus for informed consent is contained within the case Schloendroff v Society of New York Hospital, where it was held, ââ¬Å"Every person being of adult years and sound mind has a right to determine what shall be done with his own body.â⬠There are many examples within the UK system which confirms this principle of law, one being the case Re A (Minors) in which Robert Walker L.J stated, ââ¬Å"Every human beings right to life carries with it, as an intrinsic part of it, rights of bodily integrity and autonomy The principle underpins the common law concerning consent to treatment within the UK. The consent that a patient has the right to choose is a fundamental part of receiving medical treatment. No considerations need to be examined whether the choice is rational or irrational, as the patient has an absolute right. 1.3 The Department of Health 1993 stated, ââ¬Å"Consent is the voluntary and continuing permission of the patient to receive a particular treatment based on an adequate knowledge of the purpose, nature and likely risks of the treatment including the likelihood of its success and any alternatives to it.â⬠Meaning any permission given under any unfair or undue pressure is not consent. Consent may be expressed or implied, however the validity of informed consent does not depend upon the form in which it is given 1.4 This dissertation will firstly consider the development of informed consent, as the English courts initially had reservations of its establishment and for this reason was gradually introduced in stages, until the case of Chester v Afshar which saw the full acceptance of the doctrine. It needs to be considered how the medical profession dealt with this change and in addition how patients themselves are exercising such powers. The effect in which the Human Acts 1998 has had on the courts decision making process will also be analysed to observe the relevance this may have had on informed consent. Another factor of informed consent includes giving sufficient information and the patients understanding of this. For informed consent to exist, the patient must have all the relevant information and capability to make an informed choice as to the treatment they decide to receive. This was made apparent in the case Reibiu v Hughes, where Laskin J stated, ââ¬Å"the genuineness of consent to medical treatment depends on proper disclosure of the risks it entailsâ⬠For informed consent to exist within the UK; provisions need to be made for those who are simply unable to give an informed choice. The capacity of a patient needs to be considered and if they lack this then a doctor must make a decision as to what is in the patients best interest. This can be seen to restrict informed consent as it goes against its true principle, however if a patient can not make an informed choice for themselves then it is only passable that someone has to act on their behalf. This dissertation will examine the procedure for this and how the law enables decisions to be made fairly and respectably. Chapter 2-The Development of Informed Consent 2.1 The area of law that needs to be established is the nature and scope of the duty to inform and the extent to which this has been incorporated into the English legal system. The existence of a duty to warn came about when the relationship between a doctor and the patient, which was based solely on trust, began to erode. There was a need for scrutiny and examination within the medical profession and this was achieved through the development of the law. The scope of the doctors duty of care is determined by a reference to the Bolam case. Mr Bolam agreed to electroconvulsive therapy to help improve his depression. He suffered fractures in the course of the treatment. The risk was known to his doctor, but he had not informed Mr Bolam of such. Mr Bolam alleged that the failure to warn him of the risk was negligent. The judge found that the amount of information harmonized with accepted medical practice and dismissed his claim. The judge, McNair J, directed the jury to the principle that, ââ¬Å"A doctor is not guilty of negligence if he has acted in accordance with the practice accepted as proper by a responsible body of medical men skilled in that particular artâ⬠Therefore, the defendant doctor had conformed with a practice which was approved by a responsible body of medical opinion. This test was known as the Bolam test and it determines whether the doctor fell below ââ¬Å"the standard of the ordinary skilled man exercising and professing to have that special skillâ⬠2.2 Where there is a difference of judgment between two differing medical opinions, the defendant will be given the benefit of the doubt. As a result a doctor would not be found negligent if the court is satisfied that there is a responsible body of medical opinion that considers the doctor had acted appropriately. This responsible body need not be the majority of the profession. It appears that the courts allowed the medical profession to set their own standard. A doctor simply needed to provide an expert testimony and the courts assumed that it must be responsible. In exceptional cases, the courts perceived some established practice to be substandard, however it appears that only one reported case has materialized where such a judgement has occurred. The case, Hucks v Cole, where a woman contracted puerperal fever due to her doctor failing to treat her with penicillin for her septic toe and finger. Although a number of distinguished doctors gave evidence that they would not have administrated penicillin, the Court of Appeal found the defendant to have been negligent. The Judge, Sachs LJ, commented that the courts have to be in a position to verify that the medical opinion stood up to logical analysis and that they are not merely tailored to fit the requirements of the respective parties cases. This judgement was one of rarity, as Judges would not ordinarily cross examine a doctors opinion on a logical basis. 2.3 Often cases were even more favourable to the doctor, as is witnessed in the case Hatcher v Black. In this case Lord Denning stated, ââ¬Å"As a matter of law it might be justifiable for a doctor to tell a lie, when he only does that which many a wise and good doctor would do.â⬠It can be concluded from this that it is entirely for the individual doctor to determine what to inform his patient, even if the doctor went so far as to opt for what his lordship termed a therapeutic lie. Professor Michael Jones expressed the state of play as a football score, ââ¬Å"In six medical negligence claims before the House of Lords between 1980-1999 the score stood at Plaintiffs 0, Defendants 6â⬠. 2.4 The Bolam test which was adopted by English law focused on accepted practice and responsible profession opinion. The story was very different in America, as the American Courts rejected the professional medical standard and instead emphasised the patients right to know what the risks are inherent in the treatment. In Canterbury v. Spence a US Court stated that the prudent patient should prevail and its the doctors duty to disclose to their patient any material risk in a proposed line of treatment. The prudent patient principle emphasises what the doctor needs to inform the patient, according to what the average reasonable patient would want to know about potential risks and treatment options. This is made evident when the Judge commented, ââ¬Å"A risk is material when a reasonable personâ⬠¦.is likely to attach significance to the riskâ⬠Contrary to the English Courts, the USA placed more importance on the patients rights and exigencies than those of the doctors. However, soon after the Bolam decision the English law was making changes towards incorporating this American style of law, to incorporating the doctrine of informed consent. 2.5 The question that needs to be examined is to what extent the Bolam test does or should apply to the duty to inform. Sidaway v Board of Governors of the Bethlem Royal Hospital was the subsequent, leading case to appear before the House of Lords that approached such a matter. While the majority of Lordships legitimatised the traditional test expressed in the case of Mr Bolam, the individual judgements were small steps towards informed consent. Four out of the five Law Lords rejected the transatlantic test that a duty to inform a patient should be based on the reasonable or prudent patient and Lord Scarman alone favoured this manner of law. 2.6 Lord Scarman made it apparent that he considered the patient to have the right to choose what happens to his body, which signified the patient needs to know the risks so can exercise an informed choice. He went on to express what he held to be the suitable relationship between a doctor and his patient, ââ¬Å"There is room in our law for a legal duty to warn a patient of the risk inherent in the treatment proposedâ⬠. He went on to consider the doctrine of informed consent and its relevance in the Canterbury case, ââ¬Å"I think the Canterbury propositions reflect a legal truth which too much judicial reliance on medical judgment tends to obscureâ⬠Lord Scarman acknowledged the patients rights and that the prudent patient principle made the doctors much more accountable for their actions. As such he rejected the current medical practice that a patient will be informed if he needs to be, as opposed to if he wants to be. Doctors, in Lord Scarmans view, should be liable where the risk is such that in the courts view a prudent person in the patients situation would have regarded it significant. He appears to suggest that the onus proof rests on the doctor to satisfy the court as to the reasonableness of any non-disclosure and therefore suggesting a support for informed consent. However, it must be noted that he did not find in favour of Miss Sidaway, on the basis that she failed to establish that the less than one per cent risk was such that a reasonable patient would consider significant. 2.7 In spite of this the speech of Lord Scarman has stood as a symbol of hope to those who argue for informed consent to be introduced into English law. Lord Diplock rejects Lord Scarmans scrutiny, as he maintains that the Bolam test covers all aspects of the doctors duty to care to his patient. However, he distinguished from the position where a patient asks a question about treatment, by stating ââ¬Å"if the patient in fact manifested this attitude by means of questions the doctor would tell him whatever it was the patient wanted to know.â⬠This illustrates that while Lord Diplock believed doctors were not be required to inform the patient of risks, he does not fully discount the patients rights. Lord Bridge also rejected the notion that a patient should be warned of all risks, yet ââ¬Å"when questioned specially by a patient of apparently sound mind about risks involved in a particular treatment proposed, the doctors duty must, in my opinion, be to answer both truthfully and as fully as the question requires.â⬠This gives the patient the option of asking for information from the doctor and if the doctor failed to do so then his duty of care could be in breach. However, Lord Templeman, expressed that this is not clear cut, as ââ¬Å"the court will be slow to conclude that the doctor has been guilty of a breach of duty owed to the patient merely because the doctor omits some specific item of information.â⬠It was important that Lord Scarman recognised the doctrine of informed consent and that the remaining four judges recognised the meaning of a patients ability to enquire and the doctor responsibility to notify. 2.8 It seemed that English legal system was initially hesitant to adopt informed consent into medical law. However, the approach taken in the case Gold v Haringey Health Authority contradicts that expressed by their Lordships in Sidaway. The claimant, in this case, indicated that she did not wish to have any more children and was advised to undergo a sterilisation operation after the birth of her third child. The operation was carried out but the claimant later became pregnant and gave birth to her fourth child. The Judge at first instances applied his own analysis as to what information the doctor should have given and found the defendant negligent. Upon appeal, Lloyd L.J held that the Bolam test should be strictly applied and he dismissed the view of the judge prior to him. He asserted that for the purposes of establishing the test as to the duty of care owed by a doctor to a patient no distinction needed to be made between advice given in a therapeutic and non-therapeutic context. In reference to Sidaway he stated, ââ¬Å"the House of Lords could have adopted the doctrine of informed consent favoured in United States of America and Canada, but the House of Lords decided not to follow that path.â⬠It seems clear from the Sidaway judgement that the nature to inform is more extensive than that of the Bolam test where no information is required. The decision in Gold repealed any progress been made towards informed consent and the judgement seemed to convey patient autonomy to be rather trivial 2.9 The view of Diplock in Sidaway has been regarded as the authoritative statement regarding the extent of the doctors duty. There has been a move away from the Diplock approach as seen in the case Pearce v. United Bristol Health Care NHS Trust which altered the analysis of a doctors obligation. Mrs Pearce, who was expecting her sixth child, was two weeks past her due date of delivery. She discussed the possibility of induction with her obstetrician who warned her of the risks of induction and caesarean surgery, but did not tell her that there was a 0.1 to 0.2 per cent risk of stillbirth associated with non-intervention. Mrs Pearces child was stillborn and she alleged that failure to warn her of the full risks was negligent. Lord Woolf, in this case, held that the patient had the right to know and stated the doctor should normally inform a patient of ââ¬Å"a significant risk which would affect the judgment of a reasonable patient.â⬠It was decided, however, that while a doctor is under an obligation to warn, the 0.1 to 0.2 per cent risk of stillbirth was not classed a significant risk. While the Pearce judgment did not go so far as to fully accept the doctrine of informed consent, it adopted elements of the reasonable test. The judgement goes a certain distance to reconcile the approaches of Lord Scarman, Lord Bridge and Lord Templeman in Sidaway. It isolated Bolam, which by Professor Margaret Brazier,who has wrote many publications on issues of medical law, was considered good as Bolam was ââ¬Å"out of control and out of context, it came close to acquiring democratic status in some quarters.â⬠The test for duty to warn was now suggested to be that the reasonable doctor must tell the patient what a reasonable patient wanted to know. The judgement signified a more patient-friendly approach and made greater demands on the level of disclosure. Chapter 3: Further development towards the doctrine of informed consent 3.1 The medical professional has taken steps to further achieve the full introduction of informed consent into the medical world. The General Medical Council (GMC) produced comprehensive guidance to, doctors on seeking the patients consent in Seeking Patient Consent: The Ethical Considerations February 1999 (appendix I). These guidelines make particular reference to the requirement on doctors to attain informed consent, a doctrine which a few years earlier was alien to English law. Since 1992 Professor Sir Ian Kennedy LLD, a former member of the GMC, has been arguing that doctors need specific guidelines on what constitutes good practice. At that time he was the voice of the minority, however due to dramatic change in the doctor-patient relationship the GMC recognised guidelines needed to be established. The standard adopted in these guidelines resembles elements of the prudent patient test specifically that of the judgment made by Lord Scarman in Sidaway. Guidance from the GMC directs doctors toâ⬠¦take appropriate steps to find what patients want to know and ought to know about their condition and its treatment. Andrew Hockton believed that the guidelines, ââ¬Å"should now be considered to amount to more an ethical obligation: they provide at least, a starting-point for measuring the extent of a doctors duty of care to patientsâ⬠It appears that the guidelines are considered to be a benchmark for doctors to monitor their legal duty of care, to which the Bolam test fails to create. This dissertation professes that perhaps this is the responsible body of medical opinion and it seems the medical profession are setting a higher standard for both themselves and the patient. 3.2 It must be noted the development of the Human Rights Act 1998, has extended the doctrine of informed consent in medical treatment. Incorporation of the European Convention of Human Rights under the Human Rights Act encourages the courts to focus more on the patients rights. This area of law includes Article 2 (the right to life), Article 3 (prohibition on inhuman or degrading treatment) and Article 8 (the right to respect for private and family life which includes the right to bodily integrity). The case R(on the application of Wilkinson) v Broadmoor Hospital illustrates how the introduction of the rights affected certain aspects of medical law. A mental patient appealed concerning a decision to administer treatment without his consent and under restraint. He claimed it infringed his rights under the European Convention of Human Rights 1950, Art.2, Art.3 and Art.8. The judge allowed the appeal stating that under the 1998 Act, it was no longer appropriate to forcible treat detained patients without a court judgement granting so. While the decision in this case would not have been so without the introduction of the Human Rights Act, it had little effect on the majority of medical consent cases. The Act was expected to have a great impact upon issues of medical consent, however it does not seem to have made a dramatic difference on the Courts decision making. 3.3 The most recent case that has dealt with the issue of informed consent is Chester v Afshar, where the claimant underwent surgery and suffered nerve damage leading to paralysis. The surgeon failed to warn Miss Chester of the inherent risk in surgery and the House of Lords decided that the risk was of sufficient quantity to determine the defendant had inadequately warned. The case is considered to show the importance the courts attached to the principle of autonomy, as Lord Hope reiterates when he states, ââ¬Å"the duty to warn has at its heart the right of the patient to make an informed choice as to whether and if so when and by whom to be operated on.â⬠The claimants evidence verified had she been warned of the risk she would not have agreed to surgery without at least seeking a second opinion on the necessity and risks of surgery. Therefore, a causation link was adopted by the courts to further prove negligence by the doctor. 3.4 In this case it was sufficient for her to prove that, if properly warned, she would not have consented to the operation. Dr Afshar was found to violate her right to choose, which meant she was unable to seek further advice or alternatives. Therefore, a claimant pursuing a claim in this area must prove if the information had been given, their decision as to the treatment would have caused extra consideration. Lord Steyn asserted that individuals have a right to make important decisions affecting their lives for themselvesâ⬠¦in modern law paternalism no longer rules. This case was a ground breaking decision by the House of Lords, as it introduced fully informed consent and it addressed the purpose and rationale behind a doctors duty to warn. 3.5 Historically the law as taken the view that doctors are honourable and true, essentially allowing the medical profession themselves to dictate the duty to disclose. As a result of the decision made in Chester v Afshar this outlook has changed somewhat and it appears to provide a new dawn for patients rights. It has created a remedy for patients who have received insufficient information, where previously the majority of case had failed to provide such a remedy. The days of Lord Denning are long gone, meaning the doctor-friendly Bolam principle has practically been condemned worthless. While the judgement can be seen to address the reality of responsible expectations of society, it seems the judgment leaves the court with a difficult job determining who, between the patient and the doctor, is effectively legitimate when it comes to what information is disclosed. More specifically the outcome is likely to be met with distaste from doctors and there is already evidence of growing concern from within the profession. Despite the doctors concern the law of informed consent has moved on considerably from the reality where the majority of cases would fail to offer a remedy for those who had not been completely informed. As was stated by Sarah Devaney in a Medical Law Review, that back then, ââ¬Å"It did not matter whether or not doctors were wearing the flak jackets of consent, as patients wishing to make claims about lack of information were in any event carrying unloaded guns. However, after cases, time and the materialization of certain events the doctrine of informed consent began to take effect in English law. Chapter 4: The Degree of Sufficient Information 4.1 Informed consent is based on the requirements of appropriate information to allow patients to make an informed choice. The law fails to formulate a standardize figure which can be consider significant and therefore it can only be gauged on previous cases and what the accepted amount has or has not been within these circumstances. More specifically, as no clear indication has been articulated, the judgement will be dependant on the individual facts of the case, as long as this coincides with the authoritative case law. What is clear is that failure to advise sufficiently as to the nature and purpose of the procedure may give rise to an action against the doctor. If the patient is given inadequate information, then how they able to make an informed decision and therefore be said to have given real consent? 4.2 The leading case Chester v Afshar (as discussed above) contradicted any previous beliefs of the court and that of the medical profession. The case prior to Chester was Pearce v United Bristol Health Care (as discussed above) where Lord Woolf stated that the doctor should normally inform a patient of a significant risk which would affect the judgement of a reasonable patient. It considered the balance of percentages and whether this balance would have effected the patients decision to have the treatment. The risk of 1-2 per cent in this case was not considered to be sufficient to represent a significant risk. The decision in Chester made it clear that a 1-2 per cent risk was an adequate percentage for the doctor to warn the patient. Even though, the doctor appropriately informed according to the Pearce decision and the GMC standards, Chester v Afshar brought a new way of thinking to the table. 4.3 Chester disregarded the concept of what a reasonable patient would want to know and instead looked at what each individual patient wanted to know for themselves. This meant it was more plausible for the doctor to consider the patients personality, concerns and wants and information given must be relevant to the patients decision. The involvement of the causation link enabled patients to assert their rights over decision not only on the surgery itself, but in addition on the circumstances in which it was under, for example the time, place and in whose hands the operation should be performed. The causation link made it easier for patients to receive a remedy at law, as long as they could prove that had they been sufficiently warned of the risks they wouldnt have undergone the treatment. This does not mean they need to prove that they would not have had the operation at any time, just not at that moment in time in which they did. The doctor needs to make acknowledgment to both warn of a significant risk and risks which a patient would consider relevant, even if not below significance. It left the doctors with the delicate job of determining what information individual patients wanted to know. This contemporary approach sent shock waves through the medical profession and the GMC had to amend their guidelines, as they now failed to reach a high enough standard. The new guidelines can be found In Good Medical Practice 2006. (see Appendix II) 4.4 Professional guidelines now go further and state the doctor must do his best to discover the patients individual needs and priorities to analysis what information that individual may require. When consenting to treatment patients should be aware of certain factors such as, diagnosis, prognosis, various treatment options, probabilities of success and possible side effects. This was the situation in the case Smith v Tunbridge Wells Health Authority, where a claim was brought against a 28 year old man who was not warned of the risk of impotence inherent in rectal surgery. His claim succeeded despite the risk being considered significantly low, as the judge found failure to warn such a patient of a risk of such importance to him was neither reasonable nor responsible. The doctor needed to have balanced the small risk of importance against the importance it possessed on his life. 4.5 The most effective way of obtaining consent that is currently in the English medical system is consent forms. Consent forms place emphasis on the patients rights; it gives them a sense of control and perhaps recaptures some of the faith that is said to have disappeared between doctors and patients. There is no requirement in English law that consent forms should be in writing, however the Department of Health have recommended the use model consent forms (see appendix III). The most prominent aspect is the fact it does not shy away from informed consent and instead seems to embrace it. It attempts to ensure that patients are aware that they are entitled to ask questions and expect explanations do with the medical treatment they receive. Unfortunately this way of operating is time consuming and is limited to operations and major procedures. It would not be viable for such things as checking a patients throat or examining a patients stomach, as these everyday occurrences are too frequent and considered to be too minor. Some see the consent form as purely evidential yet other believes them to signify fairness to both the patient and the doctor. It creates patient awareness of the fact that they have the right to know and for this right to be attained the patient needs to make it aware what they specifically want to know. This does not extinguish the doctors duties, he must still follow the guidelines set out in obtaining informed consent, for example, explaining the treatment and its implications. In the case Abbas v Kenny the judge stated the obligation is not placed upon the patient and it simply reaffirms their rights, yet it is still the doctors responsibility to ââ¬Å"take into account the personality of the pati ent and the likelihood of misfortune.â⬠4.6 Even if a warning is given, it can not be consider a suitable warning if it is insufficiently clear to the patient and affects their ability to make a decision on information they fail to comprehend. The doctor must take responsible steps to ensure that advice is understood by the patient. To what extent is it the doctors duty to make sure the patient understands? Chapter 5: A Patients Capability to Understand 5.1 There is a rebuttable presumption that adults have capacity to consent to or refuse treatment. Therefore to make consent valid they must possess the capacity to understanding the method, consequences and benefits. If one fails to understand the information given and the inherent risks of treatment then it can not be regarded as informed consent. Care must be taken to not automatically presume those with learning difficulties are incapable; it is important for doctors to not underestimate a person from their faà §ade. Capacity is not a question of decree of intelligence or maturity of the person concerned, it incorporates elements of ability and belief. 5.2 There are different functions of what must be understood. The must frequently cited case in this context is Re C (Adult: Refusal of Medical Treatment) in which, Thorpe J, held that the person must understand the nature, purpose and effect of the procedure. In other words, sufficient knowledge constitutes the general functions of treatment. Another function that capacity can occupy is that held in Re T (Adult: Refusal of Traetment) where Lord Donaldson referred to knowledge in broad terms of the nature and effect of the procedure to which consent was given. The level of understanding was made important in this case and that this will differ according to the gravity of the decision. More specifically, the more serious a decision the greater capacity required and accordingly patients may have capacity to make some decisions but not others. 5.3 Assessment of a patients capacity is determined by reference to the Thorpe. Js three stage test in Re C it states the courts will assess the patients ability: to take in and retain treatment information; to believe it; to weigh that information, balancing risks and needs. In this case, a sixty-eight-year old patient was being detained in a special hospital, as he survived from schizophrenia. Despite this, the Judge ruled that the patient remained capable of understanding what he was told about the proposed treatment and the proposed risks involved. By satisfying the three points, a patient can verify that information can be given by the doctor, thought through and decided on and therefore the doctrine of informed c
Friday, January 17, 2020
The Yellow Wallpaper
In the story the Yellow Wall Paper, the narrator is making a statement which is saying that if you are locked up in a house or ââ¬Å"prisonâ⬠you are not being allowed to be put to your full potential with society. She is using the narrator's point of view to show how mental issues start to occur when you are confined to one place and have no actual view of the outside world. That statement also includes the effects of your mind when you can only think to yourself and imagine. The main character's mind starts to go insane when thinking too much into things. Throughout the story the main character looks into every little detail of the room and analyzes it. This is the effect of having too much time on her hands and not having anything better to do. The story is about a woman who's husband sent her away to this house to get mentally better and starts to see this wallpaper. She has very strict rules such as not being able to read or write so she starts looking at this wallpaper. While she's looking at this wallpaper she starts to interpret it in many different ways throughout the story. She's irked by the bright yellow outline that is has, which then turns into her seeing heads being hanged. As the story goes on her views of the room get even worse and it doesn't help that her husband John is treating her like a little girl. Her husband has a wrong view of what is going on in her head. She gets annoyed by the fact that she can't even talk to him about the situation she's in. The story goes on to her doing many irrational behaviors in the room and her anxiety gets worse and worse while getting fed up with everything little thing she notices in the room and about the wallpaper. She is also also a Mother that isn't aloud to be near her baby which adds to her anxiety. Charlotte Perkins Gilman shows a first person point of view with the narrator about how she is feeling ââ¬Å"So I take phosphate or phosphites- whichever it is , and tonics, and journeys, and air, and exercise, and am absolutely forbidden to ââ¬Å"workâ⬠until I am well again. Personally, I disagree with their ideas. Personally, I believe that congenial work, with excitement and change, would do me goodâ⬠(p490). She is able to capture how the narrator is really feeling. The narrator is a housewife that doesn't have a real job. She wants more out of life; she really wants to be able to read and write so that she can put her thoughts to good use and vent. When her husband took her books away from her, she started to read the wallpaper because she likes to read and analyze and is very good at it by the way she describes the room and the wallpaper. She also didn't put up a fight when she was sent away. She develops a mental illness by being a housewife and not being able to go out. When she is put in this psychiatry room, she starts to get worse. She thinks she's getting better later on in the story because her husband tells her that she can have her life back if she gets better. The narrator is disgusted with the room she's in but tries to make the best of it. She really enjoys and desires human interaction. Charlotte Perkins Gilman shows the narrator's loneliness ââ¬Å"When I get really well, John says we will ask Cousin Henry and Julia down for a long visit; but he says he would as soon put fireworks in my pillowcase as to let me have those stimulating people about nowâ⬠(p. 491). This really shows how she's looking forward to seeing her family to be able to talk about her work. John is her husband who's making all the decisions and holding her back like a child. He doesn't show her much attention because he is always with other patients and often comes to visit her at night. At one point in the story he carried her from one room to another like a baby. That doesn't do her any good because she knows that she's a grown up person and is capable of doing more. By him treating her like a baby makes her feel like a baby, and then continues to more mental issues. John should've treated her like an adult so that she would act more like an adult. Charlotte made him into a controlling character ââ¬Å"He is very careful and loving, and hardly lets me stir without special directionâ⬠(p490). This shows how he's controlling the way she does things yet still loves her. She needs more freedom which he doesn't want to give her. He thinks that by putting her in that room she will learn a lesson like a little child and teach herself how to get better. What she really needs is to be able to go out and enjoy what society has to offer her. The room she's in shows what it's like to be deprived by society; the room is like her own little society. She's trying to make the best of it by looking into every little detail of it from the bed to the wallpaper. She wasn't allowed to go out of her house or do anything because John wanted her to be a housewife which is why she started having all of these mental issues. She had to fulfill the duties that John wanted her to do which got boring to a certain point. She is a people's person. Every time that the nurses would come in she always talked to them as if she really knew them. Charlotte Perkins Gilman captures the narrator's thoughts ââ¬Å"I don't like our room a bit. I wanted one downstairs that opened on the piazza and had roses all over the window, and such pretty old-fashioned chintz hangings! ââ¬Å"(p490). She really doesn't like anything about the room she's in. When she looks out her window she sees a lovely country like village full of people which she wishes she could go out and have fun there. Being trapped in a house is the worst thing that is happening to her. She tries to make the best of the situation she's in by thinking into every little thing that annoys her. The room is a symbol of a door that is closed to society. The wallpaper is the main symbol in this story. The narrator starts to see heads that have been hanged which is obvious signs that she is starting to become delusional or insane. The color starts to change from yellow to brown after days of just staring at it. She then starts to see bars on the wallpaper which is representing herself. She feels like she's in a jail cell locked up and is not allowed to have fun or do anything except what John wants her to do. Throughout the story she feels as that it's better for her to be in this room of misery with her baby, so that the baby doesn't have to stare at it all day. She doesn't want her baby ââ¬Å"living in a room full of worldsâ⬠which almost signifies the day dreaming that goes on in there. After awhile she starts to look at the positive side of being locked up in that room. The wallpaper whether it was yellow or not, was the main controlling mechanism of the character's mood for story. Her mood no matter day or night was based on the wallpaper she was looking at. The narrator actually asked John during the beginning of her stay to take down the wallpaper since it was causing more nervous trouble, but he didn't. He thought that she was letting it get to her and wanted her to deal with it which is funny because she ended up writing an entire short story about it. The narrator could also be feeling a sense of yellow on the inside. In our world we look as yellow as happy but maybe not as fully. Colors like orange or green are a lot happier. At one point she has a view of a garden which is where she could be picking up some yellow. She even thought there was a yellow smell. The wallpaper effects her so much she feels as if it's getting into her hair. Charlotte Perkins Gilman shows a very good depiction to help create a mental picture of what is going on in the room: ââ¬Å"The color is repellent, almost revolting; a smoldering unclean yellow, strangely faded by the slow-turning sunlight(p. 490)â⬠. She shows great use of vocabulary with words such as repellent and revolting along with imagery which catches her reader's eyes. The title is an example of how the narrator can show her intellectual ability and desire of how she feels like she's in prison. The narrator's ability to interpret the wallpaper and every little detail in the room is unique even though it is a psychiatry case. Charlotte Perkins Gilman uses the narrator's point of view to really capture how she feels towards the wallpaper which in her mind is disgusting and not her type. Almost every paragraph is about something bad pertaining to the wallpaper. Her intellectual ability is to see and analyze things which may be why she gets along with so many people. Charlotte Perkins Gilman gives a great view saying ââ¬Å"He says that with my imaginative power and habit of story making, a nervous weakness like mine is sure to lead to all manner of excited fancies, and that I ought to use my will and good sense to check the tendencyâ⬠(p. 91). She clearly has a wild imagination that John is trying to cut down. She might be more of a hands on person. Therefore, the wallpaper brings a very different type of analytical approach. Her husband locked her up in this house so she wasn't being put to her full potential. Instead she started looking at the small things in her house while John just wanted her to si t at home and it turned into a mental illness. Towards the end of the story the narrator really started to go crazy walking around the room. She couldn't stand the fact that her bed was nailed to the floor. She ripped off all the wallpaper when nobody was around. She threw the key out of the room so that nobody can come in or out until John arrives. She even found a rope incase Jennie got in she was going to tie her which is a little crazy. The narrator realizes that if she jumps out the window that people will think she's crazy more than she already is. She's a frustrated psychiatric patient just trying to feel better. She's been in there for about a couple weeks. The wallpaper messes with her head a lot. She can't wait to leave the place she's in. She has everything planned out even taking a boat back to town. Her husband comes back for what she thinks is her last day in the psychiatric room. She rips down all of the wallpaper which showed a lot of courage since her nervousness wasn't letting her do anything til she's satisfied. She then takes the key locks the door and throws it out the window so that when John comes in he looks at her and faints. She does nothing but step over him. Charlotte Perkins Gilman shows what is really going on ââ¬Å"I kept on creeping just the same, but I looked at him over my shoulderâ⬠(p500). I think she just about had enough with staying in that room and may have even been feeling better since she worked up the courage to do all that and even walk over her own husband. Charlotte Perkins Gilman used a very easy to read type of style which was helpful in figuring out the plot and building a mental image of what was going on. â⬠I have found out another funny thing, but I shan't tell it this time! I mean to try it, little by little. ââ¬Å"(p498). She has a very broad use of vocabulary but not hard enough to need a dictionary to figure things out. It's interesting that she breaks the story into different parts or chapters. The narrator's character changed in each part, mostly because of the other characters or the wallpaper. Her writing style is also modern compared to other stories in this book. This type of writing style is nice. She uses a character with a mental disorientation and captures what is really going through her mind. Her writing flows just like any other short story but even better. She doesn't make it hard to figure the details out. She is very straight forward with the way she words her sentences. I'm wondering if the author wrote this short story to show another person, or if the author herself was the main character in the story. This seem like it could be a realistic story. In this century there are many mentally ill people ranging from anxiety issues to disorders. This could be a true story. The sentences are short and clear but not at all long enough to get lost in them. The story was literally written as the main character was seeing things. It was even broken up from the start of her being in the psychiatric ward included with a two week break from writing for when John kept visiting her in the beginning. Every thought and movement was written down. The Yellow Wallpaper In the story the Yellow Wall Paper, the narrator is making a statement which is saying that if you are locked up in a house or ââ¬Å"prisonâ⬠you are not being allowed to be put to your full potential with society. She is using the narrator's point of view to show how mental issues start to occur when you are confined to one place and have no actual view of the outside world. That statement also includes the effects of your mind when you can only think to yourself and imagine. The main character's mind starts to go insane when thinking too much into things. Throughout the story the main character looks into every little detail of the room and analyzes it. This is the effect of having too much time on her hands and not having anything better to do. The story is about a woman who's husband sent her away to this house to get mentally better and starts to see this wallpaper. She has very strict rules such as not being able to read or write so she starts looking at this wallpaper. While she's looking at this wallpaper she starts to interpret it in many different ways throughout the story. She's irked by the bright yellow outline that is has, which then turns into her seeing heads being hanged. As the story goes on her views of the room get even worse and it doesn't help that her husband John is treating her like a little girl. Her husband has a wrong view of what is going on in her head. She gets annoyed by the fact that she can't even talk to him about the situation she's in. The story goes on to her doing many irrational behaviors in the room and her anxiety gets worse and worse while getting fed up with everything little thing she notices in the room and about the wallpaper. She is also also a Mother that isn't aloud to be near her baby which adds to her anxiety. Charlotte Perkins Gilman shows a first person point of view with the narrator about how she is feeling ââ¬Å"So I take phosphate or phosphites- whichever it is , and tonics, and journeys, and air, and exercise, and am absolutely forbidden to ââ¬Å"workâ⬠until I am well again. Personally, I disagree with their ideas. Personally, I believe that congenial work, with excitement and change, would do me goodâ⬠(p490). She is able to capture how the narrator is really feeling. The narrator is a housewife that doesn't have a real job. She wants more out of life; she really wants to be able to read and write so that she can put her thoughts to good use and vent. When her husband took her books away from her, she started to read the wallpaper because she likes to read and analyze and is very good at it by the way she describes the room and the wallpaper. She also didn't put up a fight when she was sent away. She develops a mental illness by being a housewife and not being able to go out. When she is put in this psychiatry room, she starts to get worse. She thinks she's getting better later on in the story because her husband tells her that she can have her life back if she gets better. The narrator is disgusted with the room she's in but tries to make the best of it. She really enjoys and desires human interaction. Charlotte Perkins Gilman shows the narrator's loneliness ââ¬Å"When I get really well, John says we will ask Cousin Henry and Julia down for a long visit; but he says he would as soon put fireworks in my pillowcase as to let me have those stimulating people about nowâ⬠(p. 491). This really shows how she's looking forward to seeing her family to be able to talk about her work. John is her husband who's making all the decisions and holding her back like a child. He doesn't show her much attention because he is always with other patients and often comes to visit her at night. At one point in the story he carried her from one room to another like a baby. That doesn't do her any good because she knows that she's a grown up person and is capable of doing more. By him treating her like a baby makes her feel like a baby, and then continues to more mental issues. John should've treated her like an adult so that she would act more like an adult. Charlotte made him into a controlling character ââ¬Å"He is very careful and loving, and hardly lets me stir without special directionâ⬠(p490). This shows how he's controlling the way she does things yet still loves her. She needs more freedom which he doesn't want to give her. He thinks that by putting her in that room she will learn a lesson like a little child and teach herself how to get better. What she really needs is to be able to go out and enjoy what society has to offer her. The room she's in shows what it's like to be deprived by society; the room is like her own little society. She's trying to make the best of it by looking into every little detail of it from the bed to the wallpaper. She wasn't allowed to go out of her house or do anything because John wanted her to be a housewife which is why she started having all of these mental issues. She had to fulfill the duties that John wanted her to do which got boring to a certain point. She is a people's person. Every time that the nurses would come in she always talked to them as if she really knew them. Charlotte Perkins Gilman captures the narrator's thoughts ââ¬Å"I don't like our room a bit. I wanted one downstairs that opened on the piazza and had roses all over the window, and such pretty old-fashioned chintz hangings! ââ¬Å"(p490). She really doesn't like anything about the room she's in. When she looks out her window she sees a lovely country like village full of people which she wishes she could go out and have fun there. Being trapped in a house is the worst thing that is happening to her. She tries to make the best of the situation she's in by thinking into every little thing that annoys her. The room is a symbol of a door that is closed to society. The wallpaper is the main symbol in this story. The narrator starts to see heads that have been hanged which is obvious signs that she is starting to become delusional or insane. The color starts to change from yellow to brown after days of just staring at it. She then starts to see bars on the wallpaper which is representing herself. She feels like she's in a jail cell locked up and is not allowed to have fun or do anything except what John wants her to do. Throughout the story she feels as that it's better for her to be in this room of misery with her baby, so that the baby doesn't have to stare at it all day. She doesn't want her baby ââ¬Å"living in a room full of worldsâ⬠which almost signifies the day dreaming that goes on in there. After awhile she starts to look at the positive side of being locked up in that room. The wallpaper whether it was yellow or not, was the main controlling mechanism of the character's mood for story. Her mood no matter day or night was based on the wallpaper she was looking at. The narrator actually asked John during the beginning of her stay to take down the wallpaper since it was causing more nervous trouble, but he didn't. He thought that she was letting it get to her and wanted her to deal with it which is funny because she ended up writing an entire short story about it. The narrator could also be feeling a sense of yellow on the inside. In our world we look as yellow as happy but maybe not as fully. Colors like orange or green are a lot happier. At one point she has a view of a garden which is where she could be picking up some yellow. She even thought there was a yellow smell. The wallpaper effects her so much she feels as if it's getting into her hair. Charlotte Perkins Gilman shows a very good depiction to help create a mental picture of what is going on in the room: ââ¬Å"The color is repellent, almost revolting; a smoldering unclean yellow, strangely faded by the slow-turning sunlight(p. 490)â⬠. She shows great use of vocabulary with words such as repellent and revolting along with imagery which catches her reader's eyes. The title is an example of how the narrator can show her intellectual ability and desire of how she feels like she's in prison. The narrator's ability to interpret the wallpaper and every little detail in the room is unique even though it is a psychiatry case. Charlotte Perkins Gilman uses the narrator's point of view to really capture how she feels towards the wallpaper which in her mind is disgusting and not her type. Almost every paragraph is about something bad pertaining to the wallpaper. Her intellectual ability is to see and analyze things which may be why she gets along with so many people. Charlotte Perkins Gilman gives a great view saying ââ¬Å"He says that with my imaginative power and habit of story making, a nervous weakness like mine is sure to lead to all manner of excited fancies, and that I ought to use my will and good sense to check the tendencyâ⬠(p. 91). She clearly has a wild imagination that John is trying to cut down. She might be more of a hands on person. Therefore, the wallpaper brings a very different type of analytical approach. Her husband locked her up in this house so she wasn't being put to her full potential. Instead she started looking at the small things in her house while John just wanted her to si t at home and it turned into a mental illness. Towards the end of the story the narrator really started to go crazy walking around the room. She couldn't stand the fact that her bed was nailed to the floor. She ripped off all the wallpaper when nobody was around. She threw the key out of the room so that nobody can come in or out until John arrives. She even found a rope incase Jennie got in she was going to tie her which is a little crazy. The narrator realizes that if she jumps out the window that people will think she's crazy more than she already is. She's a frustrated psychiatric patient just trying to feel better. She's been in there for about a couple weeks. The wallpaper messes with her head a lot. She can't wait to leave the place she's in. She has everything planned out even taking a boat back to town. Her husband comes back for what she thinks is her last day in the psychiatric room. She rips down all of the wallpaper which showed a lot of courage since her nervousness wasn't letting her do anything til she's satisfied. She then takes the key locks the door and throws it out the window so that when John comes in he looks at her and faints. She does nothing but step over him. Charlotte Perkins Gilman shows what is really going on ââ¬Å"I kept on creeping just the same, but I looked at him over my shoulderâ⬠(p500). I think she just about had enough with staying in that room and may have even been feeling better since she worked up the courage to do all that and even walk over her own husband. Charlotte Perkins Gilman used a very easy to read type of style which was helpful in figuring out the plot and building a mental image of what was going on. â⬠I have found out another funny thing, but I shan't tell it this time! I mean to try it, little by little. ââ¬Å"(p498). She has a very broad use of vocabulary but not hard enough to need a dictionary to figure things out. It's interesting that she breaks the story into different parts or chapters. The narrator's character changed in each part, mostly because of the other characters or the wallpaper. Her writing style is also modern compared to other stories in this book. This type of writing style is nice. She uses a character with a mental disorientation and captures what is really going through her mind. Her writing flows just like any other short story but even better. She doesn't make it hard to figure the details out. She is very straight forward with the way she words her sentences. I'm wondering if the author wrote this short story to show another person, or if the author herself was the main character in the story. This seem like it could be a realistic story. In this century there are many mentally ill people ranging from anxiety issues to disorders. This could be a true story. The sentences are short and clear but not at all long enough to get lost in them. The story was literally written as the main character was seeing things. It was even broken up from the start of her being in the psychiatric ward included with a two week break from writing for when John kept visiting her in the beginning. Every thought and movement was written down.
Thursday, January 9, 2020
The Jealous Heathcliff of Wuthering Heights Essay
The Jealous Heathcliff of Wuthering Heights Throughout Wuthering Heights, Heathcliffs personality could be defined as dark, menacing, and brooding. He is a dangerous character, with rapidly changing moods, capable of deep-seeded hatred, and incapable, it seems, of any kind of forgiveness or compromise. In the first 33 chapters, the text clearly establishes Heathcliff as an untamed, volatile, wild man and establishes his great love of Catherine and her usage of him as the source of his ill humor and resentment towards many other characters. However, there are certain tensions, contradictions, and ambiguities present in Chapter 34 that establish the true intensity Heathcliffs feelings towards Catherine; feelings soâ⬠¦show more contentâ⬠¦He refuses to eat, absents himself from the company of Cathy, Hareton, or Nelly, disappears inexplicably for long intervals of time and refuses to explain his absences. Most disturbing, his strange excitement continues, causing discomfort to all those around him, especially Ne lly. When Nelly asks him where he was the night before his he began to exhibit this odd elation, he tells her, Last night, I was on the threshold of hell. To-day I am within sight of my heaven -- I have my eyes on it -- hardly three feet to sever me (278)! His statement is ambiguous--it does little to explain his sudden change of humor and little to satisfy Nellys curiosity and wonder at his state. Joy in most characters in Wuthering Heights is an uplifting state associated with happiness and delighted exhilaration. However in Heathcliff, as Nelly observes, it is a horrible, frightening thing. In Heathcliff, the mood arouses wariness and fear in others and indicates some inner change so dramatic that its cause is almost unthinkable. Heathcliff offers no coherent explanation for his sudden change of state and the text offers no concrete solution as to what could have caused his dark exhilaration. Thus, the question of his condition is left largely unanswered as Heathcliff continues to exhibit such uncharacteristic behavior, inspiring all the more uneasiness in Nelly, especially. He frightens her greatly severalShow MoreRelatedThe Role of Violence in Wuthering Heights Essay847 Words à |à 4 PagesThe Role of Violence in Wuthering Heights Wuthering Heights was written by Emily Bronte and published in 1847. Emily Bronte was born in Thornton, Yorkshire in 1818, but her family moved to a nearby village called Haworth when she was eighteen months old. This is where Bronte spent most of her life, seldom venturing beyond the surrounding area of her village. Emily was close to her siblings,Anne,Charlotte and Branwell, probably because her mother had died when she wasRead MoreEmily Bronte s Wuthering Heights1693 Words à |à 7 PagesThe Series of Unfortunate Events Emily Bronte, a highly esteemed and imaginative writer, is the mastermind behind the novel Wuthering Heights. When Bronte was very young, her mother passed away from a serious, untreatable sickness. After her death, Branwell, Bronteââ¬â¢s older brother, took care of the children (Pettingell). Her brother, a poet and painter, turned to an alcoholic and drug abuser was responsible for the children as they all grew up together. He was irrational and never treated EmilyRead MoreEssay on Selfish Love in Emily Brontes Wuthering Heights961 Words à |à 4 PagesThe Selfish Love in Wuthering Heightsà à Emily Brontà «s Wuthering Heights is a classic soap opera type drama of infatuation and deceit. Brontà « advances the plot of this story in several different ways. Perhaps the most effective method and indeed the most vital parts of this story are the characters. Of all the characters of this story, Catherine and Heathcliff stand out the most. There are many similarities as well as many differences between these two characters. The two characteristicsRead More Importance of Setting in Emily Brontes Wuthering Heights Essay1016 Words à |à 5 Pages Wuthering Heights:nbsp; The Importance of Settingnbsp;nbsp;nbsp;nbsp;nbsp;nbsp; nbsp; Love is a strong attachment between two lovers and revenge is a strong conflict between two rivals. In the novel Wuthering Heights, Emily Bronte uses setting to establish contrast, to intensify conflict, and to develop character. The people and events of Wuthering Heights share a dramatic conflict. Thus, Bronte focuses on the evil eye of Heathcliffs obsessive and perpetual love with Catherine, andRead MoreEmily Brontes Wuthering Heights Essay983 Words à |à 4 PagesEmily Brontes Wuthering Heights 1. What techniques are used in the characterization of Heathcliff? Effects? Heathcliff is associated with evil and darkness from the beginning of the novel. I felt his black eyes withdraw so suspiciously under their brows. (1) When LockwoodRead MoreEmily Bronte explores a complex web of relationships in ââ¬Å"Wuthering Heightsâ⬠write about one relationship which you consider an important one, and explore itââ¬â¢s significance in the novel as a whole1065 Words à |à 5 Pagesï » ¿1000 Word essay- Wuthering Heights Emily Bronte explores a complex web of relationships in ââ¬Å"Wuthering Heightsâ⬠write about one relationship which you consider an important one, and explore itââ¬â¢s significance in the novel as a whole In the novel of Wuthering Heights Emily Bronte creates a number of different relationships significant throughout the novel. One of the most significant relationships is the one of Heathcliff and Edgar Linton where one of the main themes of revenge and hatred isRead MoreRevenge in Wuthering Heights Essay783 Words à |à 4 PagesRevenge in Wuthering Heights Novels often use the emotion of hate to create tension and distress in the plot. Wuthering Heights uses Heathcliffââ¬â¢s disdain for the other characters to add conflict to the story. Wuthering Heights examines the source of Heathcliffââ¬â¢s hate as well as its effects on the other characters throughout the story. Heathcliffââ¬â¢s relationships with other characters also suggests the universal theme that breeds hatred. Hindley plants the seeds of hate into HeathcliffRead MoreWuthering Heights By Emily Bronte1521 Words à |à 7 Pagesà Wuthering Heights is Emily Brontà « s only novel. Written between October 1845 and June 1846, Wuthering Heights was published in 1847 under the pseudonym Ellis Bell; Brontà « died the following year, aged 30. Wuthering Heights and Anne Brontà « s Agnes Grey were accepted by publisher Thomas Newby before the success of their sister Charlotte s novel, Jane Eyre. After Emily s death, Charlotte edited the manuscript of Wuthering Heights, and arranged for the edited version to be published as a posthumousRead More Themes of Love and Obsession in Emily Brontes Wuthering Heights820 Words à |à 4 PagesThemes of Love and Obsession in Wuthering Heights à à à My love for Heathcliff resembles the eternal rocks beneath: a source of little visible delight, but necessary. Nelly, I am Heathcliff (81) These words, uttered by Catherine, in the novel Wuthering Heights are for me the starting point in my investigation into the themes of love and obsession in the novel. Catherine has just told her housekeeper that she has made up her mind to marry Edgar Linton, although she is well aware that herRead More Wuthering Heights Summary833 Words à |à 4 Pagesmasterpiece novel, Wuthering Heights, clearly illustrates the conflict between the principles of storm and calm;. The reoccurring theme of this story is captured by the intense, almost inhuman love between Catherine and Heathcliff and the numerous barriers preventing their union. The fascinating tale of Wuthering Heights is told mainly through the eyes of Nelly Dean, the former servant to the two great estates, to Mr. Lockwood, the current tenant of the Grange. The tale of Wuthering Heights begins with
Wednesday, January 1, 2020
Monday, December 23, 2019
The Battle for Capital of US Equities and Bond Yields
US Equities and Bond Yields: No Longer Positively Correlated The sheer severity of the financial crisis and subsequent Great Recession unleashed savage deflationary forces on the world economy. The Fedââ¬â¢s adoption of quantitative easing was partly aimed at alleviating upward pressure on real interest rates due to declining inflationary expectations. Hitherto, the prospect of rising inflationary expectations has, for the most part, not been a major concern for either the Fed or investors. This may now be changing with the apparent breaking down of the condition known as ââ¬Å"Gibsonââ¬â¢s Paradox.â⬠Gibsonââ¬â¢s Paradox originally referred to the positive relationship between interest rates and the general price level outlined by Alfred Gibson in The Banker magazine (1923). Gibsonââ¬â¢s findings ran counter to the general prevailing views amongst economists, with the notable exception of John Maynard Keynes. Subsequent empirical work by Keynes showed no relationship between the level of interest rates and the rate of change in prices. The concept of Gibsonââ¬â¢s Paradox has been applied to explain periods of financial history where equity prices and bond yields have displayed a positive correlation. Since 1997, the correlation between US equity prices and bond yields has been positive, largely reflecting a deflationary economic backdrop. Gibsonââ¬â¢s Paradox exhibited signs of breaking down in 2013. The correlation between US equity prices and bond yields has now gone negative. Does this indicateShow MoreRelatedEquity And Bonds Returns : The End Of A Golden Era? Essa y1776 Words à |à 8 PagesEquity and Bonds Returns: The End of a Golden Era? Despite numerous periods of global financial excesses, and subsequent corrections, over the past 30 years, the returns on equities and bonds in the US and Europe have been considerably above their long-term averages. The outperformance has been most pronounced in long-dated government bonds. The average annual real return on these instruments between 1985 and 2014 was +5.0% in the US and +5.9% in Europe, compared to long-run returns of +1.7% andRead MoreEquity And Bond Returns : The End Of A Golden Era? Essay1779 Words à |à 8 PagesEquity and Bond Returns: The End of a Golden Era? Despite numerous periods of global financial excesses, and subsequent corrections, over the past 30 years, the returns on equities and bonds in the US and Europe have been considerably above their long-term (100 year) averages. The outperformance has been most pronounced in long-dated government bonds. The average annual real return on these instruments between 1985 and 2014 was +5.0% in the US and +5.9% in Europe, compared to long-run returns ofRead MoreImf Chief Economist Olivier Blanchard1323 Words à |à 6 Pagesan environment of contracting private sector demand and reduction in debt can result in lower multipliers, as the government cannot fully offset the fall in private economic activity. As the global economy stagnated, weak countries were targeted by bond vigilantes, making it difficult to finance and forcing up their financing costs. Nations were focused to implement austerity programs, cutting spending and increasing taxes to stabilise public finances and reduce debt, trapping them in recessions orRead MoreThe case of Polaroid in 1996.2773 Words à |à 12 Pagesits success of the early 1970s, in the mid-1990s the company is found on the verge of bankruptcy. Its new CEO Di Camillo is facing a very large debt, which is due to mature in six years. Furthermore,although the company does not perform well in the US market, there seems to be still demand in some overseas emerging markets, including Russia. However, in order for the company to maintain and strengthen its position there, they must find a way out of their overdebting and this cannotb be done unlessRead MoreAnalyzing The Middle Market Debt2162 Words à |à 9 PagesLeveraged credit suffered from heightened volatility over the third quarter as mutual fund investors withdrew from the sector amid concerns about frothy valuations and talk of a credit bubble. We believe the high-yield bond market correction this quarter is healthy and overdue, but investors can expect choppier waters ahead. One segment we believe may help limit near-term volatility risk while capturing strong returns is middlemarket debt. One way that we identify middle-market debt is based on dealRead MoreWill Low Interest Rates Eventually Boost Corporate Risk Taking? Essay1836 Words à |à 8 PagesInterest Rates Eventually Boost Corporate Risk-Taking? The intellectual foundation for cutting central bank policy rates to near zero is based on the traditional view that a lower cost of debt funding will boost aggregate demand via an increase in capital spending as well as higher borrowing by the private sector. The credibility of this viewpoint has, however, been increasingly questioned over time, particularly in the wake of Japanââ¬â¢s prolonged experience with ultra-low interest rates and its ensuingRead MoreDamodaran Book on Investment Valuation, 2nd Edition398423 Words à |à 1594 PagesChapter 10: From Earnings to Cash Flows Chapter 11: Estimating Growth Chapter 12: Closure in Valuation: Estimating Terminal Value Chapter 13: Dividend Discount Models Chapter 14: Free Cashflow to Equity Models Chapter 15: Firm Valuation: Cost of Capital and APV Approaches Chapter 16: Estimating Equity Value Per Share Chapter 17: Fundamental Principles of Relative Valuation Chapter 18: Earnings Multiples Chapter 19: Book Value Multiples Chapter 20: Revenue and Sector-Specific Multiples ChapterRead MoreA Financial Perspective on Mergers and Acquisitions and the Economy19349 Words à |à 78 Pagesby the corporate sector, unadjusted for inflation, are given in Weston and Copeland (1986, p. 649). I extended these estimates to 1986. 2 M. C. Jensen 3 1987 managers, employees and others, and mistakes in valuation by inefficient capital markets. Since the benefits are illusory and the costs are real, they argue, takeover activity should be restricted. The controversy has been accompanied by strong pressure on regulators and legislatures to enact restrictions to curb activity in theRead MoreStock Valuation5848 Words à |à 24 PagesLECTURE STOCK VALUATION 1. Common stock valuation A share of common stock is more difficult to value in practice than a bond, for at least three reasons. First, with common stock, not even the promised cash flows are known in a advance. Second, the life of the investment is essentially forever, since common stock has no maturity. Third, there is no way to easily observe the rate of return that the market requires. Nonetheless, as we will see, there are cases in which we can come up withRead MoreEssay on Solution Manual-Investment22189 Words à |à 89 PagesConcept Questions 1. For both risk and return, increasing order is b, c, a, d. On average, the higher the risk of an investment, the higher is its expected return. 2. Since the price didnââ¬â¢t change, the capital gains yield was zero. If the total return was four percent, then the dividend yield must be four percent. 3. It is impossible to lose more than ââ¬â100 percent of your investment. Therefore, return distributions are cut off on the lower tail at ââ¬â100 percent; if returns were truly normally
Sunday, December 15, 2019
Case Closed A short Story Free Essays
Jackie dropped her blue fountain pen and relaxed her aching wrist. She had been reading and adding to the notes of her clientââ¬â¢s case for the last two hours. It was taking place the next day and she hadnââ¬â¢t even read halfway through yet. We will write a custom essay sample on Case Closed: A short Story or any similar topic only for you Order Now Laying back in the comfy black office chair she let out a long yawn and stretched out her legs under the desk. Her neck and back were as stiff as a board and she let out a low moan as she turned her head from side to side. Jackie loved her job as a lawyer. Eating, sleeping and drinking her work she would often receive criticism telling her that there was more to life than just work and that you where supposed to work to live not live to work. She was so bored of hearing it. Thatââ¬â¢s why she lived alone, she was able to get on with extra work and block people out. She knew that they just didnââ¬â¢t understand how passionate she was about her job. Well for most aspects of it. She hated doing all the written work and the notes on the cases. After hours of relentless writing, her skinny arm felt as if it was about to drop off. She slowly unhinged her sore arms and stretched up towards the ceiling letting out another deep yawn. She new she would need motivation if she was going to continue with her work. She rose from her warm, moulded seat and dragged herself over to her immaculate, open plan kitchen. Although Jackieââ¬â¢s job took up most of her life she had always been a bit of a clean freak. She couldnââ¬â¢t bear the sight of untidiness and she always found herself putting things away and cleaning up. Her indolent arms reached up to the wooden shelf and she grabbed a wine glass. Filling the glass up to the brim Jackie took a long gulp and returned back to her study. As she sat back down in her cosy chair she was disturbed by the irritating ring of her telephone. Sighing and reluctantly getting up again, she walked across the room to the phone and clearing her sore throat she picked it up. ââ¬Å"Hello?â⬠No answer. ââ¬Å"Hello?â⬠she repeated herself rolling her exhausted eyes. Still silence. Slamming the phone down she returned back to her desk feeling annoyed that someone had disturbed her. She took another sip of her wine and unwillingly picked up her fountain pen again. Jackie sat in her warm office in deep concentration. She had no longer sat down that she was bothered again. But this time it wasnââ¬â¢t her annoying telephone. The noise that filled her ears made her jump out of her skin. It sounded like a lost soul shrieking from the depths of hell. It was her car alarm. Jackie strided through the narrow hallway and wrenched open the front door causing a gust of icy wind to hit her and enter the house. She cautiously walked down the footpath, biting her dry lips, her once warm feet slapping against the smooth glacial pavement. Pushing her tangled curly hair out of her face she bent down and checked underneath her car. Nothing. She glanced across the drive and not wanting to catch a cold for her big day tomorrow she hopped back up the footpath and back into her heated house. Turning the heating up on the wall she returned back to her work filled desk. She picked up her glass and stopped. The glass that she had left on the desk to go and investigate her car alarm going off had been half full. Now it was empty. She stood up, heart racing and stared around the room. She looked back at the glass suspiciously and rubbed her weary eyes. ââ¬Å"Iââ¬â¢m going madâ⬠she muttered to herself. Jackie tried to dismiss that somebody had drank from her glass but she couldnââ¬â¢t stop thinking about the fact she was sure she hadnââ¬â¢t drank it all. She glided over to the front door and pulled across the top lock. She felt slightly easier and safer now. Positioning herself in her chair she went to begin her work. Again she stopped. Her fountain pen that she always kept on top of the mountainous piles of work had gone. Puzzled, Jackie began moving her papers out of the way and searching the whole desk work top for the pen. Giving up and becoming very stressed out because of all her disturbances she furiously got up again and went in search of another pen. She stomped in to the kitchen opened the white sliding draw looking for a biro or something of that sort that she could carry on scrawling her notes with. With no look she slammed the drawer shut and spun back around to have a look in the sitting room. She froze. There was her fountain pen propped up against her porcelain vase on the corner table. The hairs on the back of Jackieââ¬â¢s neck stood up. She was positive she hadnââ¬â¢t even been in the sitting room all night. She attentively moved across the room towards the pen. When she got there she stopped for a moment and just looked at it, it had been balanced against the vase. She was so bewildered that her heart started to race. She heard a deep breathing sound coming behind her. She couldnââ¬â¢t move as her legs had gone numb with terror. Slowly she turned her head but before she could catch sight of her intruder she felt a sharp pain in the back of her head. Jackie fell forward knocking over the vase and hitting her face against the solid wall. She fell to the floor in a state of shock. The stranger dragged Jackie up by her long, blood-soaked hair. Without thinking she grabbed the manââ¬â¢s thick, hairy arm and sunk her teeth deep into his flesh. His grip loosened on her hair and she stumbled across the room falling against her desk. Hitting the floor again Jackie began to crawl towards the door in hope to get away from the attacker. She lunged for the handle and tried to turn it. It didnââ¬â¢t move. She remembered she had locked it minutes before. Frantically trying to unlock it she could hear him breathing behind her. The lock clicked open but it was too late. She felt another piercing blow to her head, then darkness. Jackie woke up with a start. The pain in her head was unbearable. She was trying to catch her breath but she couldnââ¬â¢t, her lungs felt as if they were about to explode. She attempted to sit up, but hit her head on what seemed like a wooden surface that was inches in front of her face. She was terrified; she needed to know where she was. She hated not being in control of situations. She tried to move her arms. They were pressed tightly to her sides. She was in some sort of box. She let out a long, high pitched scream. Little did she know that there was no chance any living person would ever hear her. How to cite Case Closed: A short Story, Papers
Saturday, December 7, 2019
Effects of Temperature on Cell Membranes free essay sample
Cut each core into 2 cm sections until you have enough for one core for each temperature of water bath that you will be using. Put your 2 cm sections into a test tube with plenty of distilled water. b. Label a set of test tubes (one for each temperature of water bath) with the temperature and your initials. Add exactly 5 cm3 of distilled water to each test tube and place your tubes, one in each water bath, for 5 minutes to equilibrate to the temperature of the water bath. c. Remove your beetroot cores from the distilled water and blot gently on a paper towel. Decide whether forceps or mounted needles are best for handling the tissue and what damage this might cause to the cores. d. Place one 2 cm beetroot core into each of your test tubes and leave in the water bath for 30 minutes. e. After 30 minutes, shake the test tubes gently to make sure any pigment is well-mixed into the water, then remove the beetroot cores. We will write a custom essay sample on Effects of Temperature on Cell Membranes or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page f. Describe the depth of colour in each test tube. A piece of white card behind the tubes will make this easier to see. Arrange the tubes in order of temperature of the water bath. Describe any relationship between the amount of pigment released from the beetroot and the temperature. g. If you have access to a colorimeter, set it to respond to a blue/ green filter (or wavelength of 530 nm) and note whether you are measuring absorbance or transmission. Check the colorimeter reading for distilled water. h. Note the results for each tube and plot a graph of absorbance (or transmission) against temperature. Describe any trends or patterns in your results. QUESTIONS 1. Describe what happens when you trim the beetroot cores and place the 2 cm sections in distilled water. Use what you know of plant tissue structure to explain this observation. What does it tell you about where the pigment is located in the plant cells? Make a hypothesis about the effect of temperature on the plant cells and predict the amount of betalain that will leak from the cells at different temperatures. 2. Evaluate the method for this investigation. Think about which factors have been controlled to make it a fair test. Consider whether any factor other than temperature could be responsible for the colour leaking from the beetroot cores. Do you think this experiment will give you valid results? Describe how you could improve the experiment to give more reliable (or more valid) results. 3. What is the relationship between the amount of pigment released from the beetroot and the temperature? 4. Plan an investigation to investigate why handling raw red cabbage does not stain your fingers very much, but handling pickled cabbage does. ANSWERS 1. Dark purple pigment leaks from the cut ends of the beetroot for a while and then stops. Plant cells are surrounded by cellulose cell walls. When you cut through a piece of plant tissue, you cut through some of the cell walls and rupture the cell contents. The pigment then leaks out. The fact that it does not continue to leak suggests that further cells are not being damaged. If the beetroot tissue is treated with increasing temperatures, as the temperature rises, the phospholipid bilayer of the cell-surface membrane and the vacuole membrane will be disrupted. This means that the vacuole contents will more readily leak into the water in the test tube. The higher the temperature, the greater the disruption to the plasma membranes and the more pigment will leak out in 30 minutes. 2. The factors controlled in this test are the ones that are the same from one group to another ââ¬â the size of the beetroot cores (their surface area and volume), the advance treatment of the beetroot cores, the volume of water in the test tubes, the pre-heating (or chilling) of the water in the test tubes using the water baths, the length of time the cores spend in the water baths, the treatment of the cores after heating. The experiment could be made more reliable by using more samples of beetroot, and by maintaining the temperature with thermostatically-controlled water baths. 3. The higher the temperature, the greater the amount of pigment released from the tissues.
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