The Brief History of Transportation

The Brief History of Transportation Whether on land or at sea, humans early on successfully sought to go forth more efficiently by taking advantage of transport systems mother nature already had in place. The earliest examples of such resourcefulness are boats. Those who colonized Australia roughly 60,000 to 40,000 years ago have been credited as the first people to cross the sea, though there is some evidence that early man carried out seafaring trips as far back as 900,000 years ago. Early Boats and Horses In any case, the earliest known boats were simple logboats, also referred to as dugouts. Evidence for these floating vehicles come from excavations of artifacts that date back to around 7,000 to 10,000 years ago. The Pesse canoe is the oldest boat unearthed and dates as far back as 7600 BCE. Rafts have been around nearly as long, with artifacts showing them in use for at least 8,000 years.  Ã‚   Next, came horses. While it’s difficult to pinpoint when humans first began domesticating them as a means of getting around or to transport goods, experts generally go by the emergence of certain biological and cultural markers that indicate when such practices started to take place. Based on changes in teeth records, butchering activities, shifts in settlement patterns, historic depictions and many other factors, experts believe that domestication took place around 4000 BCE. Roughly around that period, someone invented the wheel finally. The archaeological record shows that the first wheeled vehicles were in use around 3500 BC, with evidence of the existence of such contraptions found in Mesopotamia, the Northern Caucuses and Central Europe. The earliest well-dated artifact from that time period is the Bronocice pot, a ceramic vase that depicts a four-wheeled wagon that featured two axles. It was unearthed in southern Poland. Steam Machines: Steamboats, Automobiles, and Locomotives The Watt steam engine, invented in 1769, changed everything. Boats were among the first to take advantage of steam-generated power. In 1783, a French inventor by the name of Claude de Jouffroy built the Pyroscaphe, the world’s first steamship. But despite successfully making trips up and down the river and carrying passengers as part of a demonstration, there wasn’t enough interest to fund further development. While other inventors tried to make steamships that were practical enough for mass transport, it was American Robert Fulton who furthered the technology to where it was commercially viable. In 1807, the Clermont completed a 150-mile trip from New York City to Albany that took 32 hours, with the average speed clocking in at about five miles per hour. Within a few years, Fulton and company would offer regular and freight service between New Orleans, Louisiana, and Natchez, Mississippi. In 1769, another Frenchman named Nicolas Joseph Cugnot attempted to adapt steam engine technology to a road vehicle and the result was the invention of the first automobile. The heavy engine added so much weight to the vehicle that it was ultimately too impractical for something that had a top speed of two and  ½ miles an hour. Another effort to repurpose the steam engine for a different means of personal transport resulted in the Roper Steam Velocipede. Developed in 1867, the two-wheeled steam-powered bicycle is considered by many historians to be the world’s first motorcycle.   It wasn’t until 1858 that Jean Joseph Étienne Lenoir of Belgium invented the internal combustion engine. Even though his subsequent invention, the first gasoline-powered automobile, technically did work, credit for the first â€Å"practical† gasoline-powered car goes to Karl Benz for the patent he filed in 1886. Still, up until the 20th century, cars were not a widely adopted means of transport. One mode of land transport powered by a steam engine that did go mainstream is the locomotive. In 1801, British inventor Richard Trevithick unveiled the world’s first road locomotive, called the â€Å"Puffing Devil,† and used it to give six passengers a ride to a nearby village. It was in 1804 though that Trevithick demonstrated for the first time a locomotive that ran on rails when another one he built hauled 10 tons of iron to the community of Penydarren in Wales to a small village called Abercynon. It took another fellow Brit, a civil and mechanical engineer named George Stephenson, to turn locomotives into a form of mass transport. In 1812, Matthew Murray of Holbeck had designed and built the first commercially successful steam locomotive â€Å"The Salamanca† and Stephenson wanted to take the technology a step further. So in 1814, Stephenson designed the Blà ¼cher, an eight wagon locomotive capable of hauling 30 tons of coal uphill at a speed of four miles per hour. By 1824, Stephenson improved the efficiency on his locomotive designs to where he was commissioned by the Stockton and Darlington Railway to build the first steam locomotive to carry passengers on a public rail line, the aptly named Locomotion No. 1. Six years later, he opened the Liverpool and Manchester Railway, the first public inter-city railway line serviced by steam locomotives. His notable accomplishments also include establishing the standard for rail spacing for most of the railways in use today. No wonder he’s been hailed as Father of Railways. Modern Machines: submarines, aircraft, and spacecraft Technically speaking, the first navigable submarine was invented in 1620 by Dutchman Cornelis Drebbel. Built for the English Royal Navy, Drebbel’s submarine could stay submerged for up to three hours and was propelled by oars. However, the submarine was never used in combat and it wasn’t until toward the turn of the 20th century that designs leading to practical and widely-used submersible vehicles were realized. Along the way, there were important milestones such as the launching of the hand-powered, egg-shaped Turtle in 1776, the first military submarine used in combat as well as the launching of the French Navy submarine Plongeur, the first mechanically powered submarine. Finally, in 1888, the Spanish navy launched the Peral submarine, the first electric battery-powered submarine, which also so happened to be the first fully capable military submarine. Built by Spanish engineer and sailor named Isaac Peral, it was equipped with a torpedo tube, two torpedoes, an air regeneration system, the first fully reliable underwater navigation system and posted an underwater speed of 3.5 mph. The start of the twentieth century was truly the dawn of a new era as two American brothers, Orville and Wilbur Wright, pulled off the first official powered flight in 1903. In essence, they had invented the world’s first airplane. Transport via aircraft took off from there with airplanes being put into service within a few short years during World War I. In 1919, British aviators John Alcock and Arthur Brown completed the first transatlantic flight, crossing from Canada to Ireland. The same year, passengers were able to fly internationally for the first time. Around the same time that the Wright brothers were taking flight, French inventor Paul Cornu started developing a rotorcraft. And on November 13, 1907, his Cornu helicopter, made of little more than some tubing, an engine, and rotary wings, achieved a lift height of about one foot while staying airborne for about 20 seconds. With that, Cornu would lay claim to having piloted the first helicopter flight. It didn’t take long after air travel took off for humans to start seriously considering the possibility of going further up and toward the heavens. The Soviet Union surprised much of the western world in 1957 with its successful launch of sputnik, the first satellite to reach outer space. Four years later, the Russians followed that up by sending the first human, pilot Yuri Gagaran, into outer space aboard the Vostok 1. The achievements would spark a â€Å"space race† between the Soviet Union and the United States that culminated in the Americans taking what’s perhaps the biggest victory lap among national rivals. On July 20, 1969, the Lunar module of the Apollo spacecraft, carrying astronauts Neil Armstrong and Buzz Aldrin, touched down on the surface of the moon. The event, which was broadcast on live TV to the rest of the world, allowed millions to witness the moment Armstrong became the first man to ever step foot on the moon, a moment he heralded as â€Å"one small step for man, one giant leap for mankind.†

WEstern Civilization prior to 1660 Essay Example | Topics and Well Written Essays - 750 words

WEstern Civilization prior to 1660 - Essay Example By the end of the Greek period, many significant achievements had been made in science and philosophy. Greek thinkers had gained a view of a universe in which the world was round and participated in an intricate dance through the heavens with other bodies named after the gods they revered. Sophistication in mathematics led to the development of geometry which enabled the ancient Greeks to discover even more, including how to determine direction while at sea and scientists were beginning to investigate the elements of earth, air, fire and water (Williams, 1999). Engineers were beginning to understand the physics of the earth’s natural processes and put them to effective use while others were learning more about anatomy and medicine to better heal their sick or, more probably, wounded. However, much of this came to an end when the Greeks were finally defeated by the Romans, who did what they could to remove Greek influence from their provinces. The Greek dependence upon the elephant might have been a simple fluke in history. While they proved to be effective for some time against the Romans, who were unfamiliar with the animal, once the elephants’ weaknesses were exposed, the Romans stopped losing the battles. In one of the first battles in which the Romans immediately drew up into their well-ordered formations so perfect for other forms of warfare, Born (1928) reports how â€Å"the maniples in front were thrown into utter confusion by the crushing weight of the animals: knocked down and trampled upon by them, they perished in heaps upon the field †¦ Most of the Romans were trampled to death by the elephants; the rest were shot down in their ranks by the numerous cavalry† (566). The elephants were used for more than just fighting. For instance, Glover (1948) illustrates how Pyrrhus used elephants extensively in campaigns through his life, introducing the animal to Italy in 280 BC. That they could be quit e effective

Lesson Plan Essay Example | Topics and Well Written Essays - 250 words - 1

Lesson Plan - Essay Example That student writes another pair of antonyms and passes the paper to the next person, and they keep it going around their group until the two minutes are up. The goal is for each group to list as many antonyms as they can. Encourage students to help one another if anyone in the group is having difficulty thinking of a pair of words. Have each group read their list aloud. Let the class decide whether the words in each pair have opposite meanings. 3. Give each student a blank Antonym Matching Game Board (attached). Have students think of any five antonym pairs and write one word in each box, making a matching game. Students can cut the words apart, lay the cards face down, and flip them over, two at a time, to try to find a match that are antonyms. Write some words on the blackboard and ask the students to identify them. The students are to say what antonyms they can act. Split the students into groups of three or four. Every member of each group to write a pair of antonyms on a piece of paper, and teamwork is encouraged. Students to be given a blank antonym matching game board and match the antonyms. Handout a worksheet to the students containing fill-in sentences on the left end of the paper, as well as a list of words on the far right side which will serve as antonyms for the fill-in sentences. After submission, the students will be coached on how to figure out the correct for every question on the

The First Day of School Essay Example for Free

The First Day of School Essay First walking into my new school of Terrace Park Elementary during the middle of 6th grade, I must have been the most awkward person on the planet. Moving schools because of my acceptance into a more challenging school curriculum, I had been told this group of students would help me learn much faster than the ones at my old schools. The material would have been learned at a much faster paced and higher level of difficulty. It was as if my old elementary school had kicked me out, placing me with kids who these similar â€Å"problems† as me. It had never occurred to me that the new environment I was in was so different than what I was used to. Going to this new school required a fifteen minute drive commute to and from home daily. This inconvenience made it hard for me stay connect with my classmates in the afterschool extracurricular activities. Changing schools meant meeting a new group of people I did not know. Joining the school mid-year I was the stranger that came in knowing nothing about how the school worked. Most people had already formed their little friend groups and created their own schedules. see more:my first day at school essay for kids On the other hand, the large amount of people at this school meant that some students still had time expand their friend group. It was a whole new experience and it was a case I had never handled in my life before. The two school environments were just too different. My new school was two stories high and had twice the amount of students. It was harder to get around the school and find my new classes. It had recently been renovated, so the whole appearance of the school was much more modern. Upon arriving, I noticed many remarkable building features. A five foot circular stained glass window started at me with its amiable eyes. The wolf drawn seemed to represent the school mascot. Compared to my old school, this school had much more classrooms and facilities. The six groupings of classrooms, the football and track field outside, the gym and cafeteria were all spread out. The colorful colors that were painted on school did nothing but spur my curiosity. Right outside the cafeteria was the playground of all children’s dreams. It was spacious and had two different playgrounds. There seemed to be a caterpillar toy that the underclassmen were fighting over. The real attraction, however,  was the large football field beyond the playground. I watched the daily lifestyle of this school I as wandered about. Some students hung out by the cafeteria eating their breakfast, some were conversing in the halls and some had already sat down in their classrooms. Twenty minutes before school had even started the amount of activity was surprising, when compared to my previous school. Yet people seemed to not notice me, whenever I passed by, none seemed to fully acknowledge my presence. Back home, I had friends how rushed to greet me as I walked through the doors of the classroom. The staff all were familiar with me and wore willing to help me out in any situation. As the first bell rung, I knew it was time to start my â€Å"first day† of school. Walking into Mr. Hagen’s room, I noticed a row of computers in the back right corner of the room. Their placement against the wall made it seem like they had never been used for a long time. I walked in, only to be greeted by a young aged man who I assumed to be the teacher for this 6th grade class. As I was introduced to the class, my experience as a stranger had officially began. I stood at the front of the room and slowly walked toward the seat I had been assigned. After a little bit of adjusting, the final bell rung and class had started. The first day was the day that would decide everything – from what type of friends I made to the spot I would sit during lunch. Knowing this, I tried my best to make myself look as normal as possible, attempting to discard my own shy character. Scanning the room, I knew absolutely no one. Making friends was also never one of my assets. Each person looked the same. I sat down next to a boy who had unkempt hair and had a Hawaiian shirt loosely thrown over a white t-shirt. Everyone knew my name, because it was different than the typical American name. The name â€Å"Jonah† was sure to stick in their minds, at least for next week or two. The faster paces of the classes were too much for me to handle for I never been used to such a speed in my previous school. I sat there, lost, wondering what to do. The faces of all the other students around me were intent and focus on their given task. I was left out of the atmosphere of the classroom. When lunch finally came, I was finally relieved of the pressure of the classroom. As a stranger, I remembered that didn’t know anyone well enough to sit with. For all I knew, I didn’t even know how to buy lunch. I frantically asked myself, â€Å"Is it the same way as my old school? Will I have the same PIN number? Where will I sit?† Luckily, on the way out  of the room, I was invited to eat with the boy with unkempt hair. I later learned that his name was Randy and that he was one year younger than me. As I sat down at the lunch table, many other kids sat down with me. All of them stared at me because they had never seen me there before. I was unable to come up with courage to talk to them, therefore awkwardly sitting at the table eating my lunch. I knew that they did not mean to be unkind, but just wanted to understand more about who I was. To my delight, I ran out onto the field and felt freer to finally act as myself again. The size of the field was much larger than I had expected from first look. The only color I could notice around me was the shade of green. Looking around, I had no one to kick my soccer ball with. Throughout the day, I received countless glares from many people I didn’t know. Many others from different classes had asked me many times for my name, asking me how I was and where I had come from. They had asked me so many types of questions that sparked one after another, triggering a large chain of questions that I did not know the answer to. Many of the others just called â€Å"hey new kid!† I will admit that my feeling of fear was more than I could handle. There was so much nervousness that I would start sweating and my nerves would spark all over my body. Walking in for the first time through those doors of Terrace Park Elementary made me feel so small in this large school. I was not used to such a large community, I like it when my classrooms were all close together, the student were allowed more changes to interact and the staff would be able to more easily connect with us. The few smiles I had received when entering felt forced- the ends of their lips raised for a quarter of a second. I had thought that I was different than all the rest of the kids – Was it my looks? My clothes? My awkward trot? Some might have thought that I was just another one of those Asian nerds. I felt that I would have trouble fitting in. that I should have probably stayed at my old school. Why would I just make my life harder for myself when I could just be chill with my old group? I knew that the ambivalent glances I received were not meant to be malicious. I know that even I would have done the same to a new student. My initial fears had changed th e way how every face in the school had looked. Even a perfectly joyful person could seem to have cruel intents. Trying to along with the other students was just a nightmare. I have always heard that the best thing to do on a first day of school was to make a good impression. However, I was never the type who was easy to get along with or outgoing. I tried leaving all those traits behind me as I spoke up, but it was no use. My true nature showed one way or another. My shyness only helped distance me from the other students around me, as if no one had wanted to become my friend. All the small things happening around me were, I was tuned into the world or small details. As I felt time go in in slow motion, I watched as the 1st graders dragged the lunch basket to their grade table, gave each other a high five for a job well done and then walked to the lunch line. I saw the fly buzzing around the air above me, before stopping on the table next to me. I had nothing else to pay attention but these fine details, no one would spare a second on the new kid at the table. I almost wanted to cry to show how I felt, but I realized that would probably ruin what first impressions I had left. Looking back, I realize that this experience was not that bad. It was own expectations of a new school that had caused me to sense so many different feelings. The feeling of a stranger was only because I was a new face in town. It was natural that the other students were curious of who I really was. It is even possible that, just as how I was too scared to talk to my new classmates, they had also been hesitant to approach me. Being a stranger was only temporary; I would eventually have assimilated into the daily lifestyle of Terrace Park. While that first day was particularly bad, I quickly was able to adapt to the situation in the coming weeks. I had become acquainted with the few students at my table in just a week, the rest of class in a month. This group of students who had all seemed so large at first was not as scary as they had originally seemed. They were actually very friendly; each of them had qualities that made them attractive. I had become very good friends with some of them, influencing my friends I my future schooling years. One could say that this school year affected my future directly. I would never have chosen the friends if it had not been for my experience at Terrace Park. The people that I had grown to enjoy were those who were smart and were willing to help me with any problems I had. I learned that other people are generally kind in nature, but just have trouble expressing their feelings. I have realized that I would never have attended Edmonds-Woodway High School without the experiences I had. I wanted to follow where my friends had gone to school, so I had chosen Edmonds-Woodway instead of my home school of Lynnwood.  Today, I have absolutely no regrets for changing schools mid-year during the 6th grade. I know I am a stranger, but I also know that being a stranger does not last for an eternity – t here will be a point where you will be a part of the village. We all know that every student had at least a couple first days of school. The moment where we walk into a classroom is always the worst part. We have no idea what could happen next. We see and meet people that we have never been familiar with. The sea of new faces would only help overwhelm the normal person. Shaky legs, sweat rolling down foreheads and that feeling of being a stranger will always be the initial feeling of the average person. Especially when we walk into the classroom midyear, these feeling are only amplified. Having no idea how to fit, we tend together take two actions. In my case, I tend to try to change my personality to make a good first impression, only to realize that I am unable to keep it up for days or weeks. Rather than to mess around with our true personalities to make that first impression, acting as yourself will allow others to truly know us better. People are much friendlier than we originally think; they are that frightening once we get to know them. Even more so, a bad impression does not mean that the rest of their life is ruined. Their identity can be redeemed through their actions. The important thing is not to worry and things will usually work themselves out. It is human nature to adapt to situations as the conditions change. Whenever a new student joins a classroom, the environment will change slightly. As time goes on, you will become a part of the environment that the rest of the students are used to. Working and communicating with others are a main part of changing from being a stranger to becoming a acquaintance and possibly to becoming a friend. This situation can apply to almost everyone. All new students will feel like a stranger a t one point or another. The time has come to realize that the overstated fears of the first day have only created discomfort in those who are new. No matter what, we cannot avoid the way that people look on u as strangers. But really, we are not entirely strangers. The only difference between you and them is the time spent attending that school.

Zen Buddhisim and Japan Essay -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Zen Buddhism and Japan   Ã‚  Ã‚  Ã‚  Ã‚  Japan and the development of Zen Buddhism went hand in hand towards the beginning of the sixth century. Buddhism was in full bloom in India and the Chinese were adapting it to there Lifestyle when several Japanese clans began picking it up. Zen Buddhism   Ã‚  Ã‚  Ã‚  Ã‚  Zen Buddhism is a combination of Indian and Chinese thought process revolving around the world as it is and the discipline of finding enlightenment. The idea of enlightenment or Satori as the Japanese called it was the central point of Buddhism The Chinese had several ways of looking at the things that were contradicted by Indian lifestyles and thus you have the creation of Zen Buddhism. The Chinese weren’t as philosophically minded as their Indian counterparts, rather looking at things in a very practical way. The Chinese were always devoted to world affairs, but always kept touch of reality. The Chinese weren’t looking for God, or answers from a higher source, looking within for the answers. This is one way the Zen Buddhism was greatly different from most other religions was its emphasis on asking questions and seeking answers thought the use of meditation. The monks that followed Zen Buddhists weren’t asked to recite group prayer or any oth er deeds of piety, but rather just ask questions and seek answers. The basis of Zen Buddhism also puts an unprecedented emphasis on community. A monk of any level, or the master of of a Monastery all have the same role in community and work together on all levels. No matter how mundane the work might be, the group emphasis rules above all thus creating every man equal. Zen teachings believe in handling a thing rather than an abstraction and this is an example of this. Rather than asking a god figure, or waiting for god’s intervention, Buddhist monks believe in asking the question to themselves or to a higher monk where they can get a grounded answer, although it was usually cryptic.   Ã‚  Ã‚  Ã‚  Ã‚  These cryptic answers however relate to one way one achieves enlightenment, through the use of Zen verbalism. This verbalism is very characteristic of the Chinese way, as the answer is always grounded in something very real. Most Zen teachings that are written down are reflective of thi... ...d that they will find enlightenment through their determination to die. If left alive these warriors will feel as though they have failed, and are cowardly, thus they fight with an urgency unlike most others. Their desire to obtain complete master of Bushido is unfortunately only obtainable by their demise. This method of training and preparing soldiers is unlike most other and is highly effective in creating the perfect soldier, one that fights with an awareness like none other, and another who trains with the sole purpose of ending up in a fatal situation.   Ã‚  Ã‚  Ã‚  Ã‚  Zen Buddhism has had a tremendous impact on Japan and China, influencing the way everything is today. Today Zen is a commonly used term and is widespread about the world. Many Zen centers have been set up, and a greater focus on meditation is quite popular. The Zen boom is just that though, to many people cannot commit themselves to fully dedicating themselves to its teachings and apply it, but if Japan is any measure its success is very positive. Japan has firmly set itself up as a premier country, with a deep history and a very rich culture of which are developed with the help of Zen Buddhism.

Discount rate

The rate used to discount future cash flows to their present values is a key variable of this process. A firm's weighted average cost of capital (after tax) is often used, but many people believe that it is appropriate to use higher discount rates to adjust for risk or other factors. A variable discount rate with higher rates applied to cash flows occurring further along the time span might be used to reflect the yield curve premium for long-term debt. Another approach to choosing the discount rate factor is to decide the rate which the capital needed for the project could return if invested in an alternative venture. If, for example, the capital required for Project A can earn five percent elsewhere, use this discount rate in the NPV calculation to allow a direct comparison to be made between Project A and the alternative. Related to this concept is to use the firm's Reinvestment Rate. Reinvestment rate can be defined as the rate of return for the firm's investments on average. When analyzing projects in a capital constrained environment, it may be appropriate to use the reinvestment rate rather than the firm's weighted average cost of capital as the discount factor. It reflects opportunity cost of investment, rather than the possibly lower cost of capital. An NPV calculated using variable discount rates (if they are known for the duration of the investment) better reflects the real situation than one calculated from a constant discount rate for the entire investment duration. Refer to the tutorial article written by Samuel Baker[3] for more detailed relationship between the NPV value and the discount rate. For some professional investors, their investment funds are committed to target a specified rate of return. In such cases, that rate of return should be selected as the discount rate for the NPV calculation. In this way, a direct comparison can be made between the profitability of the project and the desired rate of return. To some extent, the selection of the discount rate is dependent on the use to which it will be put. If the intent is simply to determine whether a project will add value to the company, using the firm's weighted average cost of capital may be appropriate. If trying to decide between alternative investments in order to maximize the value of the firm, the corporate reinvestment rate would probably be a etter choice. Using variable rates over time, or discounting â€Å"guaranteed† cash flows differently from â€Å"at risk† cash flows may be a superior methodology, but is seldom used in practice. Using the discount rate to adjust for risk is often difficult to do in practice (especially internationally), and is difficult to do well. An alternative to using discount factor to adjust for risk is to explicitly correct the cash flows for the risk elements using rNPV or a similar method, then discount at the firm's rate. Discount rate The rate used to discount future cash flows to their present values is a key variable of this process. A firm's weighted average cost of capital (after tax) is often used, but many people believe that it is appropriate to use higher discount rates to adjust for risk or other factors. A variable discount rate with higher rates applied to cash flows occurring further along the time span might be used to reflect the yield curve premium for long-term debt. Another approach to choosing the discount rate factor is to decide the rate which the capital needed for the project could return if invested in an alternative venture. If, for example, the capital required for Project A can earn five percent elsewhere, use this discount rate in the NPV calculation to allow a direct comparison to be made between Project A and the alternative. Related to this concept is to use the firm's Reinvestment Rate. Reinvestment rate can be defined as the rate of return for the firm's investments on average. When analyzing projects in a capital constrained environment, it may be appropriate to use the reinvestment rate rather than the firm's weighted average cost of capital as the discount factor. It reflects opportunity cost of investment, rather than the possibly lower cost of capital. An NPV calculated using variable discount rates (if they are known for the duration of the investment) better reflects the real situation than one calculated from a constant discount rate for the entire investment duration. Refer to the tutorial article written by Samuel Baker[3] for more detailed relationship between the NPV value and the discount rate. For some professional investors, their investment funds are committed to target a specified rate of return. In such cases, that rate of return should be selected as the discount rate for the NPV calculation. In this way, a direct comparison can be made between the profitability of the project and the desired rate of return. To some extent, the selection of the discount rate is dependent on the use to which it will be put. If the intent is simply to determine whether a project will add value to the company, using the firm's weighted average cost of capital may be appropriate. If trying to decide between alternative investments in order to maximize the value of the firm, the corporate reinvestment rate would probably be a etter choice. Using variable rates over time, or discounting â€Å"guaranteed† cash flows differently from â€Å"at risk† cash flows may be a superior methodology, but is seldom used in practice. Using the discount rate to adjust for risk is often difficult to do in practice (especially internationally), and is difficult to do well. An alternative to using discount factor to adjust for risk is to explicitly correct the cash flows for the risk elements using rNPV or a similar method, then discount at the firm's rate.

Dubai Urbanization - 1562 Words

â€Å"Things happen at such a speed, in such a fragmented way, and with so little governmental oversight that to find one person with a complete grasp of what’s going on is a very, very difficult task,† said Reinier de Graaf to Steven Zachs of Metropolis Magazine about the city of Dubai. Dubai is a city with very little history as a town and even less history as a major city; however it has ignited much research, controversy and many to stare in awe from its rapid urbanization. The research will delve into the reasons behind this growth and how it has been used to commodify the rich culture of those whom lived in the place that Dubai currently occupies (Otherwise known as the Bedouins). There has been much controversy surrounding the†¦show more content†¦In the report by Kanna it is argued that while the city has been reprimanded of its exploitation and abuse of workers, it turns a blind eye and simply dismisses it as â€Å"work place accidents†. Another problem is the prostitution that is taking place in Dubai, while the country is aware of the problem it is not stopping it, with many of the Arabs in neighboring countries simply coming for â€Å"foreign prostitutes† (Molavi). The spectacle within this is in relation to Dubai’s image; where it tries to sell to foreigners and tourists this image of culture and at the same time safety, it is due to the invisibility of the work force that is providing Dubai with its towering skyscrapers and modernized landscapes. After the incidents of September 11, Dubai has seen a rapid modernization (Zachs). Metropolis Magazine describes it as the economic and cultural center of the future (in comparison to New York City being that of the present). Within the article, Zachs describes the towering skyscrapers and the soon-to-be tallest structure in the world; he however argues that with its rapid urbanization and sudden growth, Dubai is currently the global center of the Arab world, providing many with jobs and financial support to their families. Also, with this rapid modernization and the constant flow of tourists, workers and the diversity of its citizens, Dubai has had to satisfy many needs; to the point where the strict Muslim country has bars, clubs, andShow MoreRelatedThe Major Problems Associated with Rapid Urbanization Essay1207 Words   |  5 PagesUrbanization- Extended Study The definition of an urban area changes from country to country. In general, there are no standards, and each country develops its own set of criteria for distinguishing cities or urban areas. A city is generally defined as a political unit, i.e., a place organized and governed by an administrative body. 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