TWO DEPRESSIONS‚ ONE BANKING COLLAPSE Chay Fisher and Christopher Kent Research Discussion Paper 1999-06 June 1999 System Stability Department Reserve Bank of Australia We would like to thank Philip Lowe‚ Marianne Gizycki‚ David Merrett‚ Bryan Fitz-Gibbon‚ David Gruen and Peter Stebbing for helpful suggestions. Thanks to David Merrett and David Pope for early advice and encouragement. Thanks also to Adrian McMahon for help in preparing this document. Any remaining errors are our own.
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A King’s Collapse Unfortunately‚ in about every person’s life either a tragic event or a series of tragic events can be found and in some cases more than others. To many people a tragic hero could be defined as someone who performs a heroic act‚ but dies in the process. Nevertheless‚ this statement is wrong‚ but instead a tragic hero needs five elements. To be a tragic hero one would need noble stature‚ a tragic flaw‚ free choice‚ excessive punishment and increased awareness. When discussing the
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the United States‚ we have become familiar the reputations of certain goods based on their country of origin. Some examples include Swiss-made watches‚ German automobiles‚ Tulips from Holland‚ Argentine beef. Michael Porter uses his "Porter ’s Diamond" theory to explain why some countries have a comparative advantage in relation to others in specific industries. Porter theorizes that four broad attributes (factor endowments‚ demand conditions‚ relating and supporting industries‚ and firm strategy
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As a result‚ I could not eat any hard food for a month‚ such as my favorite fries and sausage. Gerald Diamond‚
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DPorter’s Diamond Model on Competitiveness Factor conditions for production are the inputs and infrastructure necessary for competition‚ which include: • Human resources: quality and quantity of skilled labor‚ cost of personnel‚ and labor skill variety; • Physical resources: “the abundance‚ quality‚ accessibility‚ and cost of the nation’s land‚ water‚ mineral‚ or timber deposits‚ hydroelectric power sources‚ fishing grounds‚ and other physical traits.” (Porter‚ 1990‚ p. 74); • Knowledge resources:
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Evaluation of Jared Diamond’s Guns‚ Germs‚ and Steel In the beginning of his book‚ Jared Diamond explains a question that the New Guinea politician Yali‚ proposed to him. The question at large is “Why is it that you white people developed so much cargo and brought it to New Guinea‚ but we black people had little cargo of our own.”? Diamond explains that Yali’s question is (putting it mildly) asking how the whites (Europeans) developed more technology. Throughout Guns‚ Germs‚ and Steel Diamond is analyzing
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Which of these are the main sources of regulations governing financial reporting in Australia? A) The Corporations Act‚ The AASB‚ CLERP B) Accounting standards‚ conceptual framework‚ stock exchange listing rules C) Government legislation‚ stock exchange listing rules‚ accounting standards D) AASB‚ FRC‚ government legislation. If there is a conflict between the provisions of the Framework and the requirements of the accounting standards A) The statements of accounting concepts prevail B) The
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At one time Enron was one of the world’s largest producers of natural gas‚ oil‚ and electricity. It also appeared to be one of the most profitable companies‚ taking shareholders from $19.10 in 1999 to $90.80 by the end of 2000. Enron’s top management answered to a Board of Directors whose responsibility was to question and challenge new partnerships‚ ventures‚ and decisions within the company. On several occasions‚ Andrew Fastow‚ the company’s Chief Financial Officer approached the board of
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capture the essence of what I create‚ whether it is a person‚ an object‚ or anything you can imagine….”‚ says Jared Emerson. Jared Emerson has gained attention for his innovative artistic talent. While he states he loves all medias as well as topics‚ his most recognized artistic expressions are created by using only his hands‚ paint‚ and a canvas where he creates amazing portraits. Jared is truly a unique performance artist whose talent is quickly becoming recognized on a national scale. As the
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The environmental change and the collapse of Easter Island Ruud Coumans In this paper‚ we will search for an explanation of the mystical collapse of society on Easter Island‚ during the 18th century. We’ll use the second chapter for the book “Collapse. How Society Choose to Fail or Succeed” by Jared Diamond. First we will summarize some of the evidence supporting the explanatory framework of the author to give an outline of the situation. Then we will state the research question. After that we
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