Public Law Essay Example | Topics and Well Written Essays - 2000 words

Public Law - Essay Example Conversely, the 1688 settlement between the incoming king and Parliament enshrined the independence of the judiciary under the Bill of Rights, however required them to implement the will of the Sovereign Parliament. However, the supremacy of Parliament itself has been attacked on limits of judicial review4. The 1688 settlement introduced checks and balances in restraint of autocratic power. Theoretically, the Crown, House of Commons and the House of Lords could not pass any legislation to support a course of action unless they were accepted by the other bodies involved. However, the gradual erosion of the power of the House of Lords means that there is effectively no check on the House of Commons5. For example, the executive clearly carries out legislative functions and a prime example is the Law Commission. Additionally, the judiciary obtain their power from the Crown and there is a distinct overlap of functions between the powers, which should be separated for the effective application of the separation of powers and the efficacy of Parliament as check on the executive6. This is further compounded by the fact that the Prime Minister and Cabinet ministers are Parliament members and part of the legislature and the Prime Minister is head of the executive. This obfuscation of the theoretical separation of powers has ramifications for the procedure of passing Acts of Parliament. Parliament is essentially the legislative section of the British political system. As such, through the executive Prime Minister and the Cabinet, Parliament sanctions executive sovereignty in a party governmental system. Theoretically Parliament is a policy influencing body, relying on the executive to formulate policy and reacts to it and therefore the party machine reinforces power of the executive to initiate policy. Parliament is not therefore involved in the policy making process and has minor powers of initiation. Whilst government controls Parliament the passing of an

In African American women who have delivered live infants, what is the Essay

In African American women who have delivered live infants, what is the effect of prenatal care, in comparison to no prenatal care, on infant mortality rates within the first year of life - Essay Example innovative service initiatives, and implementation of MCH programs, policy analysis topics, advocacy issues and professional development of medical and healthcare practitioners in the MCH area. As such, the Maternal and Child Health Journal is important because it can be used as a tool for practitioners, academicians and researchers in the areas of public health, gynecology, prenatal medicine, neonatology and obstetrics. The Maternal and Child Health Journal is sponsored by different organizations that include the Association of Teachers of Maternal and Child Health (ATMCH), Association of Maternal and Child Health Programs (AMCHP) and CityMatCH. The above description makes the Maternal and Child Health Journal an essential tool to which the group plans to submit the final manuscript. First, the journal is appropriate for the group because it covers the area of demography specifically in maternal and child health area. This makes it a specific journal that will be easier for the reader to find information on maternal and child health demographic issues. The group intends to carry out research on the effect of prenatal care, in comparison to no prenatal care, on infant mortality rates within the first year of life in African American women. Therefore, the topic of the research shows that it qualified to be published under the Maternal and Child Health Journal. Prior research into the group’s topic shows that African-Americans have 2.3 times the infant mortality rate compared to non-Hispanic whites. They are also four times likely to die as infants because of complications related to low birth weight compared to non-Hispanic white infants. It has also been shown that African Americans are 2.3 times more likely to begin prenatal care in their third trimester or not go for prenatal care at all compared to non-Hispanic white mothers (Centers for Disease Control and Prevention, 2013). Compared to women from other racial/ ethnic groups in America, infants born to

Effect of Economic Factors on Stock Price

Effect of Economic Factors on Stock Price Effect Of Economic Factors On Stock Price With A Particular Reference To London Stock Exchange Introduction Its believed that an economic atmosphere is a major factor in determining the primary trend of a stock market. L H Beng (1998)The stock market, on the other hand, is often regarded as an effective and a reliable barometer of a countrys economy, and the stock prices are deemed as a reflection of future expectations concerning the economic well being of a country. Invariably, Stock, by its very nature, cannot be seen off as an independent entity from economic realities and performance. Consequently, it is of great interest to find out or examine the relationship between some economic variables and the pricing of stocks in the London stock exchange. This empirical study is carried out to examine the effect of economic factors on stock price with reference to FTSE100 price index of London stock Exchange. The main objective of the study is to examine some peculiarities or differences in terms of economic variables that influence stock prices in the London stock market. The effects of retail sales index, consumer price index and industrial production index (IPI) on stock prices shall be duly examined. The study makes use of regression model to analyze nine year (Jan. 2000 Nov. 2009) monthly data obtained on ftse100 price index and some identified explanatory variables among other numerous variables that could be identified to determine stock prices in any economy. Literature Review Series of empirical studies have been carried out on the effect or influence of economic variables on the stock price. P I Ojeaga V O Folajin (2009) showed in their study that stock price correlated with the price of industrial product and composite price index, also strongly related to the average naira dollar exchange, market capitalization, broad money supply and maximum lending rate in Nigeria economy. N F Chen, R Roll S A Ross (1986) argued that stock returns are exposed to systematic economic news, that they are priced in accordance with their exposures and that the news can be measured as innovations in state variables whose identification can be accomplished through simple and intuitive financial theory. The study was carried out with the use of efficient market theory and rational expectations inter temporal asset-pricing theory (Cox et al 1985). According to the study, industrial production and changes in risk premium have a great influence on the stock returns while index of oil price changes showed no effect on the asset pricing. Abeyratna G, Anirut P and David M P (2004) displayed empirically in their study that there is a long run equilibrium relationship between the stock prices and the rate of inflation, the money supply and the Treasury bill rate in an emerging market of South Asia. Mukherjee and Naka (1995) applied Johansens (1998) VECM to analyze the relationship between the Japanese Stock Market and exchange rate, inflation, money supply, real economic activity, long-term government bond rate, and call money rate. They concluded that a co integrating relation indeed existed and that stock prices contributed to this relation. R C Maysami, L C Howe and M A Hamzah (2004) concluded in their research study that Singapore stock market and the SES All-S Equities Property Index formed significant relationships with all macroeconomic variables identified, while the SES All-S Equities Finance Index and SES All-S Equities Hotel Index form significant relationships only with selected variables. Specifically, for the SES All-S Equities Finance Index, real economic activity and money supply were not significant, and in the case of SES All-S Equities Hotel Index, money supply, and short- and long-term interest rates were insignificant. Omran (2003) examined the impact of real interest rates as a key factor in the performance of the Egyptian stock market, both in terms of market activity and liquidity. The co integration analysis through error correction mechanisms (ECM) indicated significant long-run and short-run relationships between the variables, implying that real interest rates had an impact upon stock market performance. Maysami and Koh(2000) studied and found out that inflation, money supply growth, changes in short- and long-term interest rate and variations in exchange rate formed a co-integrating relation with changes in Singapores stock market levels. As revealed above, two variables (index of industrial production and consumer price index) out three highlighted variables have been tested by earlier researchers and the results showed a clear relationship with stock prices. In this study, the variables will be retested along side with retail sales index vis-a-viz London stock exchange. About The London Stock Exchange The London Stock exchange is the most important exchange in Europe and one of the largest in the world. It lists over 3000 Companies and with 350 of the companies coming from 50 different countries, the LSE is the most international of all exchanges. The London stock exchange is comprised of two different stock markets: the main market and the alternative investment market (AIM). The main market is solely for established companies with high performance, and the listing requirements are strict. Approximately 1,800 of the LSEs company listings trade on the main market, and the total market capitalization of 37 Billion. The LSE is completely electronic, but different shares are traded on different systems. Highly liquid shares are traded using SETS automated system on an order driven basis. This means that when a buy and sell price match, an order is automatically executed. For securities that trade less regularly, the London stock exchange implements the SEAQ system, where market makers keep the shares liquid. These market makers keep are required to hold shares of a specific company and set the bid and ask prices, ensuring that there is market for the stock. The LSE also has a new and growing exchange for equity derivatives called EDX London, created in 2003. In 2004, EDX traded an average of 382,599 contracts per day. It aim is to become the leading derivative market in the world (see http://www.advfn/stockexchanges/about/LSE/LondonStockExchange.html) Stock Market A stock market is a public market for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those on traded privately. The size of the world market was estimated at about $36.6 trillion US at the beginning of October 2008. The stocks are listed and traded on stock exchanges which are entities of a corporation or mutual organisation specialized in the business of bringing buyers and sellers of the organisation securities together. The stock market in the United States is NYSE while in Canada; it is the Toronto stock exchange. Major European examples of stock exchanges include London Stock Exchange, Paris Bourse, and the Deutche Borse. Asian examples include the Tokyo stock exchange, the Hong kong stock exchange, and Bombay stock exchange. In Latin America, there are such exchanges as the BMF Bovespa and BMV (see http//en.wikipedia.org/wiki/stock_market). Securities A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt security (such as banknotes, bonds and debentures) and equity securities, e.g., common stocks; and derivative contracts, such as forwards, futures, options and swaps. The company or other entity issuing the security is called the issuer (see http://en.wikipedia.org/wiki/security_(finance)). Stock Market Index The movement of the prices in a market or sections of a market are captured in price indices called stock market indices of which there many, e.g. S P, the FTSE and the Euronext indices. Such indices are usually market capitalization weighted, with the weights reflecting the contribution of the stock to the index. The constituents of the index are reviewed frequently to include / exclude stocks in order to reflect the changing business environment (see http://en.wikipedia.org/wiki/stock_market). Ftse 100 Index It is a share index of the 100 most highly capitalized UK Companies listed on the London Stock exchange. FTSE 100 companies represent about 81% of the market capitalization of the whole London Stock Exchange. Even though FTSE All share index is more comprehensive, the FTSE 100 is by far the widely used UK stock market indicator (see http://en.wikipedia.org/wiki/FTSE_100Index). Industrial Production Index (Ipi) The industrial production index is an economic indicator which measures real production output. It is expressed as a percentage of real output with base year. Production indexes are computed mainly as fisher indexes with the weights based on annual estimates of value added. This index, along with other industrial indexes and construction, accounts for the variation in national output over the duration of the business cycle (see http://en.wikipedia.org/wiki/industrial_production_index). Consumer Price Index (Cpi) CPI is a measure estimating the average price of consumer goods and services purchased by households. A consumer price index measures a piece change for a constant market of goods and services from one period to the next within the same area (city, region, or nation). It is a price index determined by measuring the price of a standard group of goods meant to represent the typical market basket of a typical urban consumer. The percent change in the CPI is a measure estimating inflation (see http://en.wikipedia.org/wiki/consumer_price_index). According to B Hobijn D Lagakos (2003) CPI is the benchmark measure of inflation. Retail Sales Index (Rsi) RSI is a monthly measurement of all goods sold by retailers based on a sampling of retail of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence. Many analysts choose to look at the figure ‘ex-auto (excluding the volatile car sales figure). It is thought that this number is a better measure of across-the-board purchasing trends. The report does not include money spent on services, so it represents less than half of total consumption during the month. However, even with these limitations the figures are closely watched as an indicator of the health of the economy (see http://www.investorword.com/5768/retail_sales_index.html). Data And Methodology Of The Research Data In this research work, the data used are monthly market index data from Jan. 2000 to Nov.2009. Secondary data were obtained from yahoo finance (FTSE 100 index) and Office for national statistics (consumer price index, industrial production index and retail sales index). November data were not captured in the regression result because, data available for industrial production index does not cover November (the last data released was in October 2009). Methodology The method adopted is multiple regression model to analyse the quantitative relationship between ftse100 index and three explanatory variables i.e. index of industrial production, consumer price index and retail sales index. According to Gray Koop (2006, 2008 2009) Regression quantifies the effect of an explanatory variable, X, on a dependent variable, Y. Hence, it measures the relationship between two variables. The relationship between Y and X is assumed to take the form, Y= ÃŽ ± + ÃŽ ²X, where ÃŽ ± is the intercept and ÃŽ ² is the slope of a straight line. This is called the regression line. The regression line is the best fitting line through an XY graph. No line will ever fit perfectly through all the points in an XY graph. The distance between each point and the line is called a residual. The ordinary least squares (OLS) estimator is the one which minimizes the sum of squared residuals and provides estimates of ÃŽ ± and ÃŽ ². Regression coefficient should be interpreted as marginal effects (i.e. as measures of the effect on Y of a small change in X. Thus, multiple regression model in this research work can be represented as Y=ÃŽ ±+ ÃŽ ²1X1 + ÃŽ ²2X2 + ÃŽ ²3X3 +ÃŽ µ Where Y = stock price (ftse100 index) ÃŽ ± = intercept ÃŽ ² = coefficient for the explanatory variables X1 = consumer price index X2 = index of industrial production X3 = retail sales index Ε = Error (residual) Therefore the estimated regression equation is thus: Y=ÃŽ ±+ÃŽ ²1X1+ÃŽ ²2X2+ ÃŽ ²3X3 The multiple regression correlation coefficient,R2, RY.X1X2X32=(Y-Y)2(Y-Y)2 This a measure of the proportion of variability explained by the regression relationship model or the regression equation. Roughly, this means R2 is the percentage at which the model explains the changes in the dependent variable based on the independent variables. The standard deviation is the range at which there is +/- error with a 95% confidence level. In order to gauge the accuracy of ÃŽ ± and ÃŽ ² estimates, the use of hypothesis testing on regression coefficients become very relevant at 95% confidence interval. This is given as Null hypothesis H0: ÃŽ ²1 = ÃŽ ²2 = ÃŽ ²3 = 0 Alternative hypothesis H1: ÃŽ ²1 ≠  ÃŽ ²2 = ÃŽ ²3 = 0 If the P-value is less than 5% (0.05) then t is ‘large and the conclusion is ÃŽ ² ≠  0. But, if the P-value is greater than 5% then t is ‘small which means ÃŽ ² = 0. Analysis Of Results Regression Statistics Multiple R 0.74673553 R Square 0.55761396 Adjusted R Square 0.54597222 Standard Error 588.751002 Observations 118 Source: Regression results The value of R (multiple Correlation coefficients) obtained for the data is 0.75 which lies between 0 and 1 indicating a positive relationship between stock price index and the selected economic variables (consumer price index, industrial production index and retail sales index). It is significant to note that out of all the possible economic indicators that affect stock prices, 56% of changes could be attributable to real production output, inflation and goods sold by retailers as shown by above regression results. Coefficients Standard Error t Stat P-value Intercept -37034.902 3685.920336 -10.0477 2.15E-17 CPI 318.608541 33.76303871 9.436607 5.716E-16 IPI 226.107972 20.48881882 11.03568 1.053E-19 RSI -131.07512 19.96271818 -6.566 1.598E-09 Source: Regression results Considering the model specification presented and utilizing the results obtained after running the data through Microsoft Excel 2007 the estimated regression model becomes; STOCK PRICES=-37034.90+318.61(CPI) +226.11(IPI)-131.08(RSI) The regression result above shows that there is a positive relationship between stock price and consumer price index (X1). This is in accordance with earlier expectation stated. Having P-value as 5.716E-16 i.e. its less than 5%. It means ÃŽ ²1 ≠  0; null hypothesis will be rejected while alternative hypothesis is accepted. This indicates that parameter estimate is statistically significant, meaning that consumer price index has relevant influence in explaining stock price. P-value for X2 is 1.053 Ãâ€" 10^-19 which is less than 0.05, this shows that the result is statically relevant, it means, index of industrial production has a positive relationship with stock price. Therefore, ÃŽ ² ≠  0; null hypothesis should be rejected and accept alternative hypothesis. The above regression result shows a positive relationship between stock prices and retails sales index considering the P-value of 1.598E-09 which is less than 0.05. Statically, it shows that parameter estimate is very relevant and that, retail sales index contribute meaningfully to stock price determination in London stock exchange. Consequently, ÃŽ ²3 ≠  0; null hypothesis must be rejected while accepting alternative hypothesis. Conclussion This study examined the effect of economic factors on stock price; the scope was limited to London stock exchange. As a result, FTSE 100 index was used as an independent variable while index of industrial production, consumer price index and retail sales index were examined as explanatory variables. It was deduced from the result of multiple regression model used that, there is a positive relationship between stock prices (as represented by FTSE 100 index) and the above listed economic variables most especially in the London stock Exchange. This by extension correlates with the results of some earlier researchers on the subject matter. In safe guarding stock prices in London stock exchange market, it becomes highly imperative and a major point of consideration for policy makers when trying to influence the economy through changes in economic variables such as the money supply, interest rates, or the exchange rate while aiming to correct economic ills such as inflation or unemployment to always access its multiplier effect which may inadvertently depress the stock market, and curtail capital formation which itself would lead to further slowdown of the economy. References Abeyratna G, Pisedtasalasai A Power D (2004), Macroeconomic influence on the stock market: evidence from an emerging market in South Asia. Journal of Emerging Market Finance 3(3), 85-304. ADVFN (2010), ‘London Stock Exchange, http://www.advfn/stockexchanges/about/LSE/LondonStockExchange.html (accessed 4 Jan 2010). Gray Koop (2006, 2008 2009), Analysis of financial data, West Sussex, Wiley. Investor word (2010), ‘Retail Sales Index, http://www.investorword.com/5768/retail_sales_index.html (accessed 5 Jan 2010). Loo Hooi Beng (1998), The effects of Economic factors on Kuala Lumpur Stock Exchange Composite Index, Malaysia (online at http://www.uum.edu.my/438/1/Loo_Beng.pdf accessed 27 Dec 2009). Maysami R C Koh T S (2000), A vector error correction model of the Singapore stock market, International Review of Economics and Finance 9, 79-96. Mukherjee T K Naka A (1995), Dynamic relations between macroeconomic variables and the Japanese stock market: an application of a vector error correction model. The Journal of Financial Research 18(2), 223-237. Mukherjee T K Naka A (1995), Dynamic relations between macroeconomic variables and the Japanese stock market: an application of a vector error correction model, The Journal of Financial Research 18(2), 223-237. N F Chen, R Roll, and S A Ross (1986), Economic forces and the stock market, Journal of business 59(3), 83-403. Omran M (200), Time series analysis of the impact of real interest rates on stock market activity and liquidity in Egypt: Co-integration and error correction model approach. International Journal of Business 8(3). P I Ojeaga and V O Folajin (2009),The effect of economic factors on stock price in a global economy A case study of Nigerian stock market (online at http://www.essay.se/about/economic+factors+on+stock+market/ accessed 15 Dec2009). R C Maysami, L C Howe and M A Hamzah (2004), Relationship between Macroeconomic Variables and Stock Market Indices: Cointegration Evidence from Stock Exchange of Singapores All-S Sector Indices, Jurnal Pengurusan 24, 47-77. Wikipedia (2010), ‘Consumer Price Index, http://en.wikipedia.org/wiki/consumer_price_index (accessed 4 Jan 2010). Wikipedia (2010), ‘FTSE 100 Index, http://en.wikipedia.org/wiki/FTSE_100Index (accessed 4 Jan 2010). Wikipedia (2010), ‘Industrial Production Index, http://en.wikipedia.org/wiki/industrial_production_index (accessed 4 Jan 2010). Wikipedia (2010), ‘Security (Finance), http://en.wikipedia.org/wiki/security_(finance)) (accessed 4 Jan 2010). Wikipedia (2010), Stock market, http://en.wikipedia.org/wiki/stock_market (accessed 4 Jan 2010).

KING TUBBY’S REIGN :: essays papers

KING TUBBY’S REIGN "Dub mean raw riddim. Dub jus’ mean raw music, nuttin water-down. Version is like your creativeness off the riddim, without voice." Osbourne Ruddock, known professionally and affectionately as ‘King Tubby’, the ‘Dub Master’ of all dub masters, is truly the Daddy of Dub, in every sense of the word. Not only was he one of the most innovative musical engineers of his time, but an artist, a pioneer, and a teacher to the procession of dub masters that would follow in his shadow. The list is endless of those he influenced first-handedly, including such noble names as Hopeton ‘Scientist’ Brown, Philip Smart, Lee ‘Scratch’ Perry, Prince Jammy, and Yabby You, to name a few. His reign as the ‘Dub Master’ lasted for nearly a decade, but his innovative techniques, spaced out rhythms, and overall inventiveness have left a lasting imprint on the dub scene. King Tubby is dub, and he will never be forgotten. January 28, 1941 marks the day this emperor, Osbourne Ruddock, was born into the world. He was raised on High Holborn Street in Central Kingston, remaining there until 1955 when he moved to the Waterhouse district. (1) His career took off very slowly, as it did not have a title, never mind an available position, at that time. He began working as a radio technician, or repairman, and by the late 1950’s, had already started experimenting with sound system amplifiers, manipulating the available sounds to ones that sounded native of outer space. By 1964, he had his own Tubby’s ‘Home Town Hi-Fi’ system, to which he would eventually incorporate a custom reverb and an echo facilitator. During this time, he had taken up a job, working for Duke Reid as a disc-cutter. One day when Tubs was mixing up a version for Reid, he accidentally left out pieces of the vocal track from the recording. After replaying the mix, he found himself pleased with the sound he had inadvertently created. Tubby began to take the latest Rocksteady hits and create new versions of them by "dropping the vocal track, boosting parts of the instrumental track, and add(ing) subtles effects like echo or delay to the instruments he had isolated", writes John Dougan.(2) Without knowing it, Tubs had stumbled upon a whole new era for Reggae: he had invented DUB. In order to get his new sounds heard and recognized by the public, Tubby ambushed the radio waves in the early 1970’s by hijacking one of the two lines available in Kingston.

George F. Handel

George F. Handel Brittany Shellem March 11, 2013 Monday 6:00pm Shellem 1 George F. Handel, a man born in the same time as Johann Sebastian Bach, has been recognized as one of the most underrated Baroque composers. Handel was born in the same time as Bach and only 50 miles away. This could largely be related to the reason why Handel is so underrated. Handel spent a large part of his childhood sneaking away and playing instruments behind his father's back. With his mother's assistance, Handel learned how to play the organ and eventually won his father's consent to study music.Success in music as a child led him to compose pieces and write operas. In the early part of Handel's life he spent time playing the organ for the Calvinist Cathedral. After his stay with the Calvinist Cathedral, Handel played violin and harpsichord for the only opera company in Germany that existed outside the royal courts, and also taught private lessons. Having inspiration from playing in an opera, George Hande l wrote his first opera, Almira in 1704. Handel found great success in his opera. The opera was performed twenty times in total until its place was aken by Handel's next opera, Nero. After his newly found success Shellem 2 George Handel moved to Italy in 1706 where he gained a wealth of knowledge on setting Italian lyrics to voice. In 1710, Geoge Handel was appointed Kapellmeister at Hanover, but soon took leave to London. Then, in 1719, he became musical director of the Royal Academy of Music. Much of Handel's time during the 1720's and 1730's was spent composing operas. While in the midst of his operas, Handel found the time to compose many other works. During the last few years of the 1730's, Handels operas were not as uccessful. Facing his own mortality in the opera world, Handel responded by focusing more on oratorio. Handel is best known for his usage of oratorios, choral dramas that emphasize arias and recitations. His use of choruses and religious sentiment in these pieces e volved into a new form of musical entertainment. Similar to operas, but devoid of scenery, the oratorio became a genre of its own. George Handel's focus on composing paid off when he composed the wildly successful oratorio, Messiah which was originally sung by a choir of 16 and an orchestra of 40.Tickets sold for atrocious amounts and music lovers publicized it constantly. Handel left Dublin for the Shellem 3 premiere of the piece. Unfortunately, Messiah was unsuccessful as audiences could not acclimate themselves to Handel's use of prose instead of a poetic text. Handel was a unique musician who did not limit his life work to operas and oratorios. He wrote anthems, psalms, and chamber music as well. Handel endured changes in his public life repeatedly throughout his career. Unfortunately, towards the close of his life he suffered from aralytic strokes and cataracts that ultimately left him blind. Despite his inability to see, Handel continued to perform and conduct. He was an inspi ration to other composers and musicians and died shortly after a performance of Messiah. Beethoven admired Handel's strength and creativity. Beethoven is quoted as saying, â€Å"Handel is the greatest composer who ever lived. I would bare my head and kneel at his grave† (1824). It would seem as if the earlier saying of Handel being one of the most underrated composers would be untrue.How can one man who accomplished so much and who was admired by so many of his peers be pushed under the rug? George Handel was a great musician and a strong Shellem 4 human being whose commitment to music withstood the rise and fall of his popularity. Works Cited Lang, Paul H. George Friderick Handel. New York: Courier Dover Publications, 1966. Print. Burrows, Donald. Master Musicians Handel. New York: Oxford UP, 1994. Print. Barber, David W. , and David C. Donald. Getting a Handel on Messiah. Toronto: Sound and Vision, 1994. Print.

Cosmopolis: a World of Subjective Reality Essay

Cosmopolis, written in the spirit of post modernity, rejects the idea of an ordered universe with one objective reality. This novel asserts that reality is instead subjective, and as human beings while we all experience the same one world ,but we each perceive this experience differently, and therefore we all live in different worlds. In this paper using quotes from Cosmopolis, I will explain how Don DeLillo uses dialogue and the actions of characters to construct his argument for subjective reality, and how his theory of subjective reality relates to the real world. Before I begin quoting Cosmopolis, I will briefly explain the modern definition of subjective reality. The idea of subjective reality asserts that reality and of the â€Å"truths† in the universe changes between individuals. Meaning, although there may be objective truths in the universe, each person perceives these truths and experiences them differently, and because of everyone’s own unique perspective of the world, each lives in their own world existing in an altered state of objective reality. Cosmopolis is littered with dialogue where the characters are talking about subjective reality. You could almost randomly flip to any page in the novel and find that someone is talking about subjective reality. It was obvious to me that Don DeLillo purposefully wrote this dialogue adding an argument for the existence of subjective reality. Although one could argue I read the novel looking for people talking about subjective reality and that in reality it is all in my head, for the purposes of this paper I am going to assume Don DeLillo purposely wrote Cosmopolis as an argument for subjective reality. One of the first lines of dialogue which I encountered that got me to thinking about subjective reality is near the very beginning of the novel when Eric is in the limo talking with Shiner. Shiner asks Eric why they were in the car instead of the office to which Eric replies, â€Å"how do you know we’re in the car instead of the office† (15). This quote is a perfect example of one of the aspects of subjective reality: that a person can never truly be sure of where they are, and that no matter where they actually are, they can choose to be somewhere else. Eric is in a way challenging Shiner to prove both that they are in a car and that they are not in an office. However, these are impossible things to prove, because a person can chose to be wherever they want to be regardless of actual physical position. Ideal to subjective reality, Shiner doesn’t even attempt to answer Eric’s question, because he knows he can’t prove either arguments. Plus, the fact that Eric chooses to turn his limo into an office shows that even though Eric knows his car is not an office, he makes it into an office merely just by acting as if it is an office. Like Eric, Beeno Levin is another character in Cosmopolis who understands the nature of subjective reality. As he is writing he beings to talk about what he sees in other people and what that means, saying â€Å"it is what people think they see in another person that makes his reality. If they think he walks at a slant, then he walks at a slant, uncoordinated, because this is his role in the lives around him† (57). Beeno is making two assertions on the nature of people in reality. Firstly, Beeno is asserting that no matter what a person actually does, it is what you think they do that is reality. Meaning, in his example, whether a man walks with a slant or not, if you think he walks with a slant, then he walks with a slant. Secondly, when he says, about the man, that â€Å"this is his role in the lives around him†, he means that to him the man who walks with a slant is nothing but the man who walks with the slant. In Beeno’s life the role of the man is to do nothing but walk around with a slant. Whether the man does anything other than walking with a slant, such as being an accountant or having children, to Beeno he can never be any of those things, because he is merely the man who walks with a slant. The man can never be anything else unless Beeno chooses to see him that way. Near the end of Beeno’s monologue he also thinks that â€Å"world is supposed to mean something that’s self-contained. But nothing is self-contained. Everything enters something else. My small days spill into light years† (60). Here he is making another assertion on the nature of reality and how it relates to the world. When he says the world is self-contained he is challenging the idea that the â€Å"truths† in the world can be separated and neatly pushed into categories. He asserts that in reality the elements of the world cannot be separated and everything is melting into everything else. There are actually no boundaries because one can perceive the world and anything could be anything else, for example, a limo can be an office. Here in this next quote the characters actually start to directly discuss reality. At this point in the story Eric and one of his advisors, Kinski, are chatting in the limo during the protest. Kinski baits Eric, asking him what the flaw of human rationality is. When he asks what, she answers replying that â€Å"it pretends not to see the horror and death at the end of the schemes it builds† (91). Ironically, she is asserting that human rationality isn’t even concerned with being accurate to reality. Human rationality strives to create its own deluded reality outside of what might actually be happening, such as in this example the evils of capitalism. It is deluded, ignoring the facts and believing whatever it wants to believe, such as the disparity between the rich and poor in the United States. Although Kinski, in this context, is only commenting on humans as a whole, this idea can be applied to human rationality on an individual basis. An individual may delude themselves in the same way, for example Eric continues to lose money on the Yen even though all evidence is telling him he should cut his losses and pull out. He is deluded in ignoring the facts, rejecting what he sees, and formulating his own new reality where he doesn’t pull out and makes a lot of money off the Yen. Some of my favorite moments in Cosmopolis are during the last scene when Beeno shoots Eric. The two of them seem to understand each other, and even hold some of the same beliefs, such as the subjective nature of reality. At one point, Beeno is convinced that his penis is shrinking and receding into his body, while Eric tries to convince him that is not true. Beeno says, â€Å"whether I imagine a thing or not, it’s real to me† (192). Eric asks been to prove it is true by showing him, and Beeno refuses saying, â€Å"I don’t have to look. There are folk beliefs. There are epidemics that happen. Men in the thousands, in real fear and pain† (192). Beeno is asserting something new this time. He has already asserted that a person can look at something, such as the man with the slant, and see anything they want to see (a man walking with a slant), whether that is actually what they are looking at. But now, he is asserting a man can look at nothing and see something that isn’t even visibly there. This is even further into subjective reality, it is one thing to say something can be something that is not, but it is entirely different to say that nothing can be something. Beeno even tries to support his belief that his sex organ is receding into his body with two different arguments. The first is that other men have experienced it, and therefore it is a real thing. The second one is that thousands of other men also fear it, and that it is a â€Å"real† fear. This argument is based on the idea that the very fear itself of something happening is just as real as if it were actually happening. This is another element of subjective reality. Beeno fears that something is happening to his body, even though he knows he can’t see it, but this very fear itself makes it real to him whether or not it is actually happening. During the climax of the novel, Eric begins to belittle Beeno by telling him that he doesn’t even have a good, admirable reason to kill him, that Beeno is just another whack job killing someone just because; â€Å"No. Your crime had no conscience. You haven’t been driven to do it by some oppressive social force. How I hate to be reasonable. You’re not against the rich. Nobody’s against the rich. Everybody’s ten seconds from being rich. Or so everybody thought . No. Your crime is in your head† (196). Here Eric is trying to tear down Beeno’s righteous justification for killing Eric. Eric is saying that Beeno isn’t killing Eric for the greater good of society, getting rid of a bad power-driven rich person, Beeno is just killing Eric just because. Eric asserts Beeno’s own motives are all in his head, that Beeno is deluded and doesn’t actually know why he is killing Eric, he is just doing it. This is a very odd turn. At the beginning of this novel Eric has been a perfect spokesperson for subjective reality, but here he seems to be playing devil’s advocate by trying to tear down Beeno’s arguments. I wondered why Eric would make such a sudden change, but after finishing the book I believe it is clear Eric isn’t actually trying to tear down subjective reality, he is just saying whatever he can to buy time and possibly not die. One of my good friends from primary school used to say that when he died the world would end. His names is Martin, and he is a genius. I am not a genius, but I enjoyed a lot of philosophical conversations with Martin nevertheless. I was really surprised when I came across exactly the same thing in this novel. It is right at the beginning when Eric first gets up and is getting ready to leave. He is lamenting his insomnia and thinks â€Å"when he died he would not end, the world would end† (6). I believe this quote embodies the spirit of subjective reality. If reality exists on an individual basis, and is only inside the mind of every person, then logically it would follow that when that person dies their reality, their world would end too. Possibly the most perfect aspect of this novel is the way Don DeLillo parallels this quote with the structure of the story. When Eric is about to be shot, it is obvious that he is going to die, however the novel ends with just his thoughts right before Beeno kills him. Nothing follows, that is the end of the story. How perfect that the novel ends with the very last thought of Eric! It makes absolute sense that the novel would end when Eric dies, because as already stated he wouldn’t end when he died, the world would end. Postmodernism encourages experiment in literature, and Don DeLillo takes full advantage of this. As an American I was always taught there were rules and truths that ruled the Universe. That reality was always objective and one merely has to interpret it correctly. Objective reality is the idea crucial to the success of religious and political systems. Every religion claims to be the one true religion, and without the claim of objective reality these religions would fail. This is also very much true in political, ethnocentricity being a perfect example of the effects of people believing there is an objective reality to the universe. In conclusion, Don DeLillo argues for the existence of subjective reality in his novel Cosmopolis. He utilizes the dialogue and the actions of the main characters to debate this idea and highlight crucial elements of the theory. In this paper I have analyzed several quotations from different scenes in the novel, explaining how each quotation represents an aspect of subjective reality. Subjective reality may have sounded like a crazy idea in the past, but now as we live in post modernity, subjective reality is quickly gaining acceptance.