What Successful Economies Do Is Keep It For A Minimum

‘Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.’ Alan Greenspan, Federal Reserve Chairman (1987-2006) (Batra, R, 2005) Introduction In 300 B.C, a Greek sea merchant named Hegestratos engineered one of the earliest recorded cases of fraud when he ‘took out an insurance on a boat for a large sum’. At the moment when Hegestratos took this antique insurance policy, also know as bottomry, he already had the intention of sinking his own boat halfway through his next trip. His goal was to collect the insurance money. He†¦show more content†¦The buyers are exposed to many risks. Indeed, the finance sector is highly dependent on information and how this information is shared in the market. The quality of a financial product is often identified a long time after the original transaction. Regulation is indispensable in order to protect the consumers from misinformation or fraud. There are many different agents operating in a same market, such as institutions or individuals, with very different levels of expertise. One of the roles of financial regulators is to ensure that the most vulnerable are not be ing wronged. That is why the regulatory system is carrying out tasks to prohibit the sale of certain financial products and specifying where they can be sold. (Goodhart, C, 2013) The reality of systemic risk made the task of regulating the financial system increasingly complicated, as the crises aren’t contained in one country or market. The extreme inter-dependence between the different agents is the main reason why we need regulation today, as some misconducts can cause a domino effect, affecting markets globally. The structure of the banking system in itself explains this process. In the finance industry, banks borrow money from other banks. If one bank fails, the one who lent the funds in the first place might also follow the same path, creating panic in the markets. The government’s first prerogative is to protect its citizens from these

Neural Technology Brain Computer Interface - 934 Words

Neural technology is a field of engineering that specializes in taking information that is present in the brain and translating it to a medium that can be understood by a wide range of people. One of the ways this is done is with systems that take information directly from the brain and enable control over a computerized system. These are referred to as brain computer interfaces, also known as BCIs. Brain-computer interface (BCI) technology decodes neural signals in real time to control external devices (Rouse). With many varying potential applications, it is possible to see BCIs applied to many aspects of everyday life. This could include- but is not limited to- limb replacement, advanced computer systems, and brain monitoring. For each of the different uses a brain-to-computer interface has there is a different system developed. One of the forms of Brain-Computer Interfaces is a neural interface. â€Å"Neural interface (NI) systems offer a novel approach to restore lost function and to diagnose or manage nervous system disorders† (Donoghue). They can either be directly in contact with the brain tissue or located in remote areas (Donoghue). â€Å"We have previously shown that people with long-standing tetraplegia can use a neural interface system to move and click a computer cursor and to control physical devices† (Hochberg). Many engineers and scientists in the field of neural technology and using these interface systems to allow people, people who have lost the ability to moveShow MoreRelatedBrain-Computer Interfaces1221 Words   |  5 Pages Until recently, our relationship with technology has been limited to physical and direct command. To get a device to take action, you mu st touch it, or speak to it. All of this could change with this new technology called, brain-computer interfaces. This amazing technology will not only revamp military applications, but most importantly help the medical community substantially. It brings the possibility of sound to the deaf, sight to the blind and movement to the physically challengedRead MoreNeural Prosthetics And Its Effects1741 Words   |  7 Pagesto regain some of what we had lost or have never hard, through neural prosthetics. In this essay, I will be dissecting and explaining what exactly neural prosthetics are while delving into its past, its current present applications while making comparisons to other similar technologies, and its future and potential uses. With only a very recent history, neural prosthetics is quickly becoming more and more relevant by the year. Neural prosthetics are already helping thousands of people, from peopleRead MoreThe Future Of Neuroscience : From Sci Fi1559 Words   |  7 Pageskick while wearing a robotic exoskeleton controlled by his brain. The high-tech demonstration was orchestrated by Duke University neuroscientist Miguel Nicolelis, as part of the Walk Again Project [2], to develop and implement a brain-machine interface to allow severely paralyzed patients to regain mobility. The sight of such futuristic technology straight out of the Iron Man movie becoming a reality is simply exhilarating. The human brain has often been referred to as the final frontier of scienceRead MoreFrom Toys to Practicality: Brain Computer Interface Technology900 Words   |  4 PagesPracticality: Brain Computer Interface Technology The idea of Brain Computer Interface (BCI) technology is the subject of high interest for many people and families of the person experiencing considerable physical impairments, such as those with Amyotrophic Lateral Sclerosis (ALS). This knowledge is recognized by several monitors, such as BCI, Brain-Machine Interface (BMI), neuro-brain transmission and Direct Brain Interface (DBI). 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BCI can help individuals communicate without relying on muscular control, which is critical for clinical populations of neuromuscular disease patients, such ALS (Wolpaw, 2002). The use of BCI can enable communication and increase quality of life but to date the effects of mental fatigue have been ignored. However, the current state of BCI technology and overall usability is not advancedRead MoreModern Robotic Arms1416 Words   |  6 PagesINTRODUCTION Mind-melding as between the machines and animal is not something never heard of. The researchers have tried to attempt it since as early as the beginning of 1970s. Some studies in the past within interfaces of brain-machine have enabled the monkeys to gain control of the robotic arms as well as the people who were paralyzed to control the cursors over the screen. Even then the researchers could not know it at all if the humans would be able to control the robotic arms for performingRead MoreBBCI Essay977 Words   |  4 PagesHigh Data Rate Wireless Communications for Brain-Computer Interfaces Overview: To achieve full success in experiments on brain plasticity, bi-directional brain computer interfaces (BBCIs) must deliver activity-dependent stimulation for extended periods of time in unconstrained environments [1]. BBCIs are neuroprosthetics used for fundamental research in neurophysiology and neural rehabilitation. The ability to stimulate the brain in response to single neuron action potentials have allowed for high-fidelityRead More Neural Interfacing Essay1123 Words   |  5 PagesNeural Interfacing In the motion picture â€Å"RoboCop† scientists during a future time implanted a human head into the body of a futuristic robot creating an almost unstoppable police officer. 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African Societies Transformed Free Essays

Walter Rodney explains how different tribes In Africa survived or were defeated. The Bilbao were one of the tribes most mentioned which lead me to believe that they were very well off. Rodney then went on to describe how they were able to survive. We will write a custom essay sample on African Societies Transformed or any similar topic only for you Order Now I will discuss why I believe they did survive so long and so well. First off, I do not agree with how the Bijou handled their survival. Raging war and capturing your own neighbors Is what the Balboa had to do though. Rodney describes the tribe as geared towards war and the men were great warriors (56). The Bijou would burn down a village and If the people fought on their way from the burning huts, the Bilbao men would cut them to pieces. The ones that did not fight would be taken captive for the Europeans. Sine the Bilbao tribe were such great warriors. They were very near able to avoid enslavement of their own people. Along with their talent of fighting, they were very easily manipulated by the Europeans. Because the Bilbao were so easily manipulated, the Europeans could get however many slaved they wanted or needed. Like I mentioned before, I do not agree with their way of survival but at the same time I can understand why they did what they did. Being under the thumb of the Europeans is better than being a slave. I do believe that that was their same logic as well. Considering their situation, I would Greer just this once, that I would have done what they did to at least have a 90% chance of survival. Rodney, Walter. African Societies Were Transformed by the Slave Trade. Oxford university Press: Copy Right 1970. African Societies Transformed By Jellyroll How The Bilbao Survived Walter Rodney explains how different tribes in Africa survived or were defeated. The First off, I do not agree with how the Bilbao handled their survival. Raging war and capturing your own neighbors is what the Bilbao had to do though. Rodney describes the tribe as geared towards war and the men were great warriors (56). The Bilbao would burn down a village and if the people fought on their way from the burning huts, the Bilbao men would cut them to pieces. The ones that did not fight would be taken captive for the Europeans. Sine the Bilbao tribe were such great warriors, they of fighting, they were very easily manipulated by the Europeans. Agree Just this once, that I would have done what they did to at least have a 90%. How to cite African Societies Transformed, Papers