Diesel

Meaning

Diesel is a liquid form fossil fuel or we can say that it is a liquid fuel that can be used in Diesel Engines. Unlike Petrol its engine fuel ignition takes place without any spark and in substitution to it with the help of compression. Diesel engines have found a broad use due its fuel efficiency and thermodynamic efficiency.

Uses

Unlike Gasoline and L.P.G, Diesel engines do not use spark ignition's.  An engine running on diesel compresses the air inside the cylinder to high pressures and temperatures (compression ratios from 14:1 to 18:1 are common in current diesel engines); the engine generally injects the diesel fuel directly into the cylinder, starting a few degrees before top dead center (TDC) and continuing during the combustion event. The high temperatures inside the cylinder cause the diesel fuel to react with the oxygen in the mix (burn or oxidize), heating and expanding the burning mixture to convert the thermal/pressure difference into mechanical work, i.e., to move the piston. Engines have glow plugs and grid heaters to help start the engine by preheating the cylinders to a minimum operating temperature. Diesel engines are lean burn engines.

Trucks

Diesel engines are widely common in large automobiles like truck,buses etc  because it has more power then Gasoline engines. The Gasoline powered automobile are major exceptions like Diesel cars are less in number's worldwide.

Railroads

Due to Diesel engine is a better substitution to large size inefficient steam powered engine because it is small as well as far more efficient it has replaced it in latter half of the 20th century, and is now used almost exclusively for the combustion engine of self powered rail vehicles (locomotive's and rail car's).

Aircraft

The first diesel-powered flight of a fixed-wing aircraft took place on the evening of 18 September 1928, at the Packard Proving Grounds near Utica, Michigan. With Captain Lionel M. Woolson and Walter Lees at the controls the first "official" test flight was taken the next morning, flying a Stinson SM1B (X7654), powered by a Packard DR-980 9-cylinder diesel radial engine, designed by Woolson. Charles Lindbergh flew the same aircraft and in 1929, it was flown 621 miles (999 km) nonstop from Detroit to Langley Field, near Norfolk, Virginia. In 1931, Walter Lees and Fredrick Brossy set the nonstop flight record flying a Bellanca powered by a Packard diesel for 84 hours and 32 minutes. X7654 is now owned by Greg Herrick and is at the Golden Wings Flying Museum near Minneapolis, Minnesota.
Diesel engines were produced in both Germany and United Kingdom by different companies with the production run of 900 engines Junker Jumo 205 was the most produced aviation Diesel engine of all times till now. In the Soviet Union Institute of TsIammade a significant progress in building of practical diesel aero-engines.

Military Vehicles

Military uses Diesel engine's because Diesel has lower risk of catching fire and it's engine's are much more powerful then other fuel's engine thus providing higher rate of torque and low rate of stalling.

Cars

Diesel powered cars have much more powerful engine's and better fuel efficiency although creating much more pollution then petrol or gasoline powered cars. Diesel powered cars are more expensive and take higher maintainence charges and more fuel efficient.   

Tractors and heavy equipment

In modern day era most of the tractors and heavy equipements mostly diesel powered. Among the tractors only smaller classes have Gasoline or Petrol engine's. 

Other uses

The Diesel engine's are used a lot equipment's and vehicle's which need's less flammabilityand higher fuel efficiency.

Pricing

The price of Diesel is less then Gasoline or Petrol especially in India otherwise it depends on country to  country due to taxation and availability of resources that what price it should be.

Marble

Meaning

 "Marble is a metamorphic rock composed of recrystallized carbonate minerals, most commonly calcite or dolomite. Marble may be foliated. In geology the term "marble" refers to metamorphosed limestone, but its use in stonemasonry more broadly encompasses unmetamorphosed limestone"

Kearey, Philip (2001). Dictionary of Geology

Marble has been derived from a Greek word (mármaron). And according to some other people it can be linked to English word marmoreal, meaning "marble like".

Uses

Sculpture-
Since old times white marble has been valued high for its use in sculpture's. All this is because of it's durability it is soft which tend to make it easier to carve, and have a resistance to breaking.It does also have quality that it has the low index of refraction of calcite allows light to penetrate several millimeters into the stone before being scattered out, resulting in the characteristic waxy look which gives "life" to marble sculptures of any kind, which is why many sculptors preferred and still prefer marble for sculpting.

Construction Marble

Construction marble is composed of a material which is capable of taking polish.In construction purposes it has a huge demand due to its beauty and endeavor and the market is growing at a large pace due to technological advancement in procurement and cutting of Marble.

Production

In 1998, marble production was dominated by 4 countries that accounted for almost half of world production of marble and decorative stone. Italy and China were the world leaders, each representing 16% of world production, while Spain and India produced 9% and 8%, respectively. Italy is the world leader in marble export, with 20% share in global marble production, followed by China with 16%, India with 10%, Spain with 6%, and Portugal with 5%.

Artificial Marble

Marble dust is combined with cement or synthetic material to make artificial marble. The appearance of marble can be simulated with faux marbling, a painting technique that imitates the stones color pattern.

Robots

Introduction

Today we live in the society where 'Automation' is growing as the trend of the Era. Robots and their uses are becoming more and more common there are possibilities that on day going out in hotels means being greeted by the robotic host going to hospital means treated by a robotic medical nurse and going to shop means buying things from a robot cashier whether we like it or not. Robots have been on the planet from ancient and medieval times but they were mechanical and limited in there work but now robots can do a lot much work thanks to coding,software and the invention of electricity although less Eco-friendly and causing increase in unemployment.

Meaning of a robot

 Most of the people in modern day era can recognize a robot but can not define it. The IFR(International Federation of Robots) had organised the robots in two main categories one is Industrial robot and the other are service robots. Industrial robots are the ones that came into use in industries and factories and service robots are being used for service purposes. But we can not define every autonomous thing as a robot we have to filter our thoughts about it the things we can turn on and off are robots and they have no further directions.

Types of robots

Robots can be classified on many basis as per the guidelines of many organisations for convience robots can be categorized based on their classifications here:

Production robots

These robots are mainly use at factory level such as industrial,military,medical and service sectors. Example of production robots are include robots in automobile assembely lines, military drones, the Da Vinci surgical robot, and service robots in hotels and hospitals.

Domestic or house held robots

There are many kind of robots in this catagory like iRobots Roomba 980, and braava jet 240 and Robotic lawn mower etc.

Other robots

Various other robots that are out of category of production and domestic robots such as Mars rover that explores other worlds like Mars,Moon etc. the toy robots and robots created as project for school and colleges also comes in this category.

Conclusion

As robots take care of our more intimate needs, such as personal care giving,human to robot and robot to human interactions will become a central focus of study and philosophical discussion. Much is the concern are the trust issues and acceptability for the robots. As technology advances the safety should be insured that it would not cause harm to the Humans in any way as due to technology if God wills the future for robots and robotics is unlimited.

Augmented Reality and Virtual Reality

Virtual reality

Today virtual reality (VR) is implemented using computer technology such as headsets, omni-directional treadmills and special gloves to create an illusion of reality. But the question is what is virtual reality?

Virtual reality is a creation of an unreal world to our senses which is basically a virtual, three dimensional, computer generated environment. The person becomes the part of the virtual world as by just wearing the VR in such a sense that he/she is able to manipulate objects or perform a series of actions.

Why virtual reality

Virtual reality could led us to explore new discoveries in the area which impact on our day to day lives. It can help us to train for dangerous professions and can avoid the risk of life in training from fighter pilots to medical application trainee surgeon, virtual reality allows us to take virtual risk in order to gain real world experience. As the cost of virtual reality goes down and it becomes mainstream, we can expect more uses such as education or productivity applications to come in foreground.

Virtual reality and augmented reality could change the way we interface with our digital technologies while continues to humanise our technology.

Problems 

This is more difficult than it sounds,since our senses and brains are evolved to provide us with a finely synchronised and mediated experience. If anything is even a little off we can usually tell. Immersiveness and realism are the issues that makes the enjoyable experience as the unpleasent ones. Virtual reality technology needs to take our physiology into account otherwise it could in severe cases lead to motion sickness which happens in boat or while reading in the car. If in the production of VR gets all right in sense of combination of hardware, software and sensory synchronicity all things would be O.K.

Augmented Reality 

Imagine seeing an object that you can see but can not touch or we can say partially tangible. Augmented reality (AR) is a technology that is trending but it's been around in some form for years, if our definition is loose. For example, the overhead displays in many fighter aircraft in the 1990s would show information about the altitude, direction and speed of the plane, but now they show which objects in the field of view are targets.
   In the past several years various organisations had tried and are trying to build devices that give us augmented reality. In 2009, the MIT media lab's fluid interfaces group presented sixth sense, a device that combined the use of camera, a small projector, a smartphone and a mirror, which hung from the users neck down the chest. The sensors on the user's fingers manipulate the images projected on to any surface without requiring the visual screen.

The future of augmented reality

There is lot of work beings done on augmented reality. One such device is earbuds, which allow us to adjust the sounds that comes in from our surroundings. Research continues apace on including AR functionality in contact lenses and other wearable devices that would operate by themselves. The ultimate goal of augmented reality is to create a convenient and natural immersion, so that there wont be any need for phones or tablets. It isn't clear what those replacement will be. Even classes might take a new form, as "smart classes" are being developed for the blind people.

AR vs VR

AR is different from VR. VR means computer generated environment for us to interact with, as we immerse in it. AR, adds to the reality we normally see rather than replace it.
      Google glass is an example of AR not launched yet but is impressive as it has a projector to see movies and videos which accepts the users voice commands in daily use.
     In apps examples are that of cities technologies stars app, in it we could point camera to any star and planets to check its name as per the publisher of that app. Layar is an app to find and collect information about nearby surroundings. Disney research has also developed an app which is basically a coloring book which is based on AR.

AI (Artificial Intelligence)

Artificial intelligence is said to be the pennacle of the age of machines. The industrial age witnessed the developement of machines that relieved humans from doing heavy physical work. In what is called a second machines age, humans are now biengs relieved of doing the mental work as well. This article takes a wide look at all its possibilities in the future.

Artificial intelligence (AI) is made up of two words - Artificial and Intelligence. AI is "the science and engineering of making intelligent machines, perticualrly intellectual computer programs."
AI can turn a computer to self functioning and software's that can think, quite like the human biengs can think. Researchers are making system that can react to human biengs, identify there speech and react with them.

The growth and developement was desired to bring intelligence in machines which is similar to human biengs or can be more than it. British mathematician Alan Mathison Turing, known as the father of Ai, pridectedin 1950s that coming days in future the machines would develop to such a extent that they would think like human or have ability to more then that.

AIs two basic goals -

Creating expert systems: Systems that exhibit intelligent behaviour and can study, reveal, describe and advise its users.

Implementing human intelligence in machines: To make systems that comprehend, think, study and act like human biengs.

Interesting facts about AI 

• AI can repair itself - A AI robot may not know what is broken but it can observe the decrease in level of functioning and could make necessary arrangements to counter.

• AI can write - Data is captured from seismographs is used by a computer to write an article, which then turns it into figures and plugs those figures into a beautiful story. It takes graphs and turn that into well written reports.

Limitations of AI 

1. The cost involved in its protection and maintainence.

2. Fear of robots overruling humans. We, humans, should be the masters of machines. But if something goes wrong, could clever machines could turn out to be smarter than us.

3. If robots begin to subsitute human biengs in every field, it ultimately led to an unemployment.

4. If the controls of machines goes in wrong hand, it may cause havoc.

5. Over dependence on machines, there would be a lose in mental capabilities.

AI Tools

Companies like Google, Facebook and Amazon are investing a lot in there research and developement divisions just to check out the full potential of the AI systems.

5G Technology

Introduction

Every generation of internet technology gives us more speed and functionality. 

1G- It gives us introduction to the smartphone.

2G-It gives us the first text experience.

3G-It gives us the first online videos experience.

4G-It gives us what we have today.

5G-It can hold traffic many times more and is 10 times more faster then 4G as per expert estimations.

5G would help us in autonomous driving VR entertainment and much more.

5 new technologies emerging as foundation of 5G

Millimeter Waves

Our smartphone's and other electronic devices uses a particular set of frequency on spectrum which are under 6 GHz so due to shortage of space connection is getting slow as well as fluctuating more more to counter it new new spectrum should be opened being tried by the technological innovators but the problem is that shorter millimeter waves are weak in connections and can be absorved by rain and Trees.

Small Cell Networks

As we use large towers today but they wont be applicable much at the time of 5G as higher frequency waves can be stopped by obstacles but in this situation small cell networks which would be placed closer in comparison to old tower's would work as a savior and help the device to maintain connection.

Massive MIMO

It stands for multiple input and multiple output today's 4G base station supports a dozen ports but 5G base station can supports about at least a 100 ports it too would come with many complications.

Beam Forming

It would work as a traffic signal rather than different signal contradicting each other they would be going by the direction intended with the help of Beam Forming.

Full Duplex

Like in case there are two either you can talk or you can receive in the same way to counter this problem 5G uses full duplex in this way the line of signal before signal contradicts each other would take different paths before that movement and again after the danger is finished they become's the single line path.

Money laundering: How does it operate

Money laundering has been from a long time been a tool of corrupt people and still it is in work today. Lets understand this with the example of Al capone nutorious figure in the crime world. Al capone prisided over a vast and profitable empire in organised crime, when he was put on the trial he was only convicted with tax evasion and the wealth of about $100 million a year which is now about $1.4 billion approx. as per source is nowhere to be found that he earned from illegal gambling, bootlegging, brothel and extortion. Capone and his associates have hidden it as a part in different investments whose ownership cant be proven, like cash only laundromats infact those laundromats are part of the reason of those activities money laundering. The name money laundering itself term as any process that converts illegal currency to legal one by application of different tricks. 

Its not the capone who started the system of money laundering, it is as old as money itself. Merchants do it for avoiding tax related conflicts and pirates hava done it for secure selling of their bounties. But recent arrival of virtual currencies, offshore banking, the dark net and global markets schemes have become much more complex, although they very alot all of them share three basic steps-

1. Placement - It is a step in which criminals buy assets with illegal money which seems as legitimate this is done by opening bank accounts under the name of anonymous corporation or a middle man depositing massive wealth this makes a very vernurable position of the depositor.

2. Layering - It is done by transferring money to multiple bank accounts or by purchasing of luxurious items and real estates or by the help of casinos where every second the money owner changes or have fixing with employees to rig it.

3. Integration - it is done by investments done in legal business makes payment legal by fake invoices get the salary of managing Directors or by make a Bogus charity.

Although through all this U.N, international institutions, and national goverment are fighting money laundering but still it is continued by criminals and not only criminals but people like goverment officials, financial institutions are also in it. No one knows how much wealth is hidden due to money laundering, estimates can be in billion of dollars.

Biodiesel: The eco friendly alternative to Diesel

Just imagine a oil that is just been used to cook food and which just help to make a delicious food is now is just a nasty goop what can a person do with it, a person would usually through it in the drain but this process has a flaw and that is it can clog not only our drain but the entire sewage system. Many places have laws for proper disposal of it, but rather than proper disposal of it it we can do something useful and that is the production of biodiesel with it.

We have probably heard or we can say that most of us have heard of diesel engines that is the fuel that powers all our vehicle's for e.g- cars and truck's, but the diesel is derived from crude oil or we can say petrolium. But petrolium is built from fossil fuel of dead plants and animals hundered of thousands years ago and is a non-renewable resource, But biodiesel which is a renewable resource can be made from recently dead plants and animals, the plants oil and animal fats can be burned in car engines to produce energy it is a bio version of diesel and is biodegradable. It is cleaner than normal diesel so there is a demand to create it from the soya crops but it has a lot of opposition but still we have it through waste oil.

So to help in creation of biodiesel we can donate the excess of waste oil to organisation related to generation of biodiesel and in some places the city or rural Department took away the waste oil from restaurants and hotels. Waste oil could easily be converted to bio diesel using few scientific methods and there is a lot of efficiency and scope in it if the waste oil that only the New Yorkers throw would be taken as a aeroplane fuel it can be used in few hundered flights from New York to L.A. And using waste oil as fuel rather than burning fossil fuel could help a lot to deteriorating eco system to not deteriorate more, recycling old cooking grees can turn goop into good, contributing a little by all the individuals can make cleaner cities, clean environment, and sustainable energy source.

What gives a Dollar bill it's value

The main objective of currency is that it can and can take the value of goods and services which other things with the same material like paper cant with exception of cheque, bonds, etc. Although we cant make or build anything with paper like car and plane but still we can buy with it and this is what makes it different. Currency money is a Fiat money at present which can be used as exchangable object against goods and services. Most of the people know that the currency is printed by the goverment legislation and it is made by them as legal which normal paper in the book is not and because of it we can use it. But what gives value to it is different from what makes them legal.


Value of money is dependent on how much it is in circulation more or less. Long ago it was connected with gold or precious materials that a country have but after 1971 Dollar becomes what is known as a fiat money means not linked to any other material and its not the goverment that controls it, it is the federal reserves. It dicides the monetary policies and how much currency it should print it has 12 regional centers around the U.S in the major cities. It is operated by the non goverment branches to save it from politics. Its board of governers which is appointed by the presidents and confirmed by the senate reports to congress and all of the federal profit goes to the U.S national treasury as per the U.S goverment.

But why not the Fedral reserves do not print extra currency to give it to the poor because it has a value which by this would get deteriorate because it is use for exchanging with goods and services more currency means less value of it in market and less otherwise. Now here comes the topic of inflation and deflation.


Inflation means decrease in value of money and deflation means decrease in value of money. Two of either extremes are harmful for an economy if there is too much inflation then people would spend more and they want to hoard more substances like fuel and gold and then there price would increase and commodity shortage would began, on the other hand too much deflation would decrease consumer spending as people want to hold on to thier money beacause of businesses would shrink people would become unemployed and further spending would decrease as per economists and two of them are considered dangerous for an economy.

As per economists little bit of inflation without reaching the levels of disruption should be there to let the economy grow.

The federal reserves uses a vast amount of data to determine how much currency should be in circulation including previous rates of inflation, international trends and unemployment trends.

What is a trade War

What comes in the mind of a person when he/she come to face the word War the person would surely suspect the word to military warfare. But there is an other kind of a War and that is a trade war. The weapons of trade war not suprisingly are almost everywhere around us and that are the products we consume even your mobile , laptop or the food you eat or the vehicle you travel in are all can be made of an imported material or the whole equipment or vehicle can be an imported good.

Now to further explain this type of war we can assume the example of two hypothetical countries fabek and mabek now if both are prominent in making metal things and mabek production increases due to subsidizing by its goverment and now fabek is very much depressed by it so it's goverment can impose tariffs on the other and in retaliation mabek can also do the same and it would go on and so forth it can cause a trade war and this whole process can be called as a trade war.

In trade relation a country whose exports are high is much more vulnerable to tariffs than the one whose imports are high.we can take the example of U.S in 1930's when it introduced the Smoot haweley tariffs act for U.S workers and employees as for there security but the Europe and Canada introduced there own tariffs in opposition to it even some countries cut off ties with U.S and made new trade relations with Soviet Russia which benifit the Soviet Russia. Trade wars harms almost all the people perticualrly the poor consumers. The modern potential trade war can be as U.S president Donald Trump wants to impose on selected Chinese goods which are expensive in revenge to Biejing  markets harming Washington markets but China also put a series of tariffs on the same goods which the U.S put the tariffs so there is a trade war between China and U.S

Also most importantly trade wars only decrease the global pace of an economy by wasting consumers money on tariffs and it also destabilize the global trade system as a whole. So in the end it harms more than it benifits.

Immigration

The poem on statue of liberty "Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teaming shore." First we have to look at the history as homo sapiens are living around the globe from centuries and they migrate to other countries as well in modern times people migrating is known as international immigration. There are also types of migration.

People who choose to migrate voluntarily from one place to another mainly because of economic opportunities. As Ernst Georg Ravenstien says"Bad or repressive laws, Heavy taxation, an unattractive climate, uncongenial social surroundings, and even compulsion...all have produces and are still producing currents of migration, but none of these currents can compare in volume with that which arises from the desire inherent in most men to 'better' themselves in material respects." In 1840's Atlantic migration starts and around 1880 and 1910 alone around 17 million Europeans arrived in Americas. The immigrants of like this helped the U.S to cope up with there growing industry as labor and workers but by the 1930's, European immigration was severely curtailed, and asian immigration was banned outright. Many of these laws remained in effect until the 1960's, when new laws helped precipitate the wave of immigration.

But it is not always that in case if low skilled workers come to a country they tend to be poor on a average and contribute to poverty in the nation. George Borjas an economist talk about the benefit of immigration as it cause labor surplus. Labor surplus tend to increase the demand in the economy in effect to this it also increase the job opportunity as well. One of the most interesting things about the immigration surplus is that it only accounts for benefits that accrue to citizens who lived in the country before the immigrants arrive. It doesn't take into account the huge economic benefits the immigrants themselves enjoy.

An Economist name John Keenan argues that if Immigration restrictions be eliminated world wide there would be benefits like labor supply would be doubled and there would be significant economic growth and workers would see there salary jump from $8900 to $19000.

  

Health Care

Note: This Article contains information related to Healthcare of Europe and U.S basically.

Health care is a different market as part of economics than all other markets. If somebody is injured during some activity and the recovery services are expenses then it is usually paid by health insurance. Health insurance are of two types now first is private health insurance which is paid by its members or we can say individuals in the form of premiums second is the public heath benefits which is provided by the government by the taxes you pay although people pay it indirectly, but for private insurance individuals pay it directly.

For e.g in Canada it is a single payer system in which the hospital is a private business but get paid by the government although Canadians pay the bill for subscription,medicines,glasses etc. Now in France the government healthcare makes mandatory for citizens to take medical health insurance. In Britain their is a socialized heath care system in which doctors are payed through taxes by the people.
In U.S the hospitals are the private firms and medical insurance prevails in it although there is part for public welfare for poor and senior citizens and Britain like social healthcare system for veterans.

Economists evaluate the effectiveness for a healthcare system on three basis Access,Cost and quality.
On the cost basis on healthcare the U.S is number one. In 2012, the U.S on average spent $8,745 per person on the healthcare. Other rich countries like Switzerland and Norway spent a little over $6,000, and countries like Germany, France, the U.K, and Japan spent in the $3-5,000 Range. U.S is spending a large part of there G.D.P in just medical care the amount can be of some other countries whole G.D.P. There are a lot of theories based on this like quantity for example people are taking a lot of unnecessary tests and other stuff then the other is cost like MRI tests in U.S are costing 2-3 times more then the average cost in many of the other countries, another is admin cost which has a main role in high cost of healthcare in U.S administration costs are high because of no uniform code of conduct in administration hence contributing to high cost of healthcare in the U.S.

Obamacare

The Iron triangle in U.S work towards the policy making it is a systematic relation between Congressman, Bureaucrats and lobbyists and it had created a new act which is Obamacare it is not like a socialist health care system like that of U.K. Instead, the affordable care act tries to increase health coverage by requiring private health insurers to insure everyone who applies,charge the the same premiums to the people of the same age, and cover preexisting conditions. It also gives subsidy to the people who cant afford to have a health insurance.             

Can Gold be an inflation hedge?

Rising Inflation has put gold back on the radar for Investors looking for a protection from emerging price pressures, but history says its reputation have been overstated. The experience of last 50 years explains that Gold has been a better barrier against inflation shocks-this thing can be completely seen at the times of financial crisis which usually have inflation shocks.

"if you strip out the 1970's you will find the relationship between gold and inflation is quite week," Brian Lucey, professor of international finance at trinity college Dublin, said."That is because you have a very different inflation regime in the late 1980's and 1990's than you had in 1970's."

"That was the time when inflation rates of double digit and higher were the norm.We're not going back to that."

"If yo want to cover inflation expectations, you just buy a bond - It's very straightforward,"

Campbell Harvey, professor of finance at the fuqua school of business, Duke University, said.

"However that does not work for unexpected inflation - this is inflation linked bond is needed."

Harvey's research into gold link with inflation shows that while the metal holds its value over the extremely long run - Roman soldiers' wages, expressed in gold, are similar to modern day U.S military pay. Indeed, Gold has reacted little to recent price pressures. As the five year U.s break even inflation rate hits its recent in a year in the last month, gold sagged as the dollar pulled of recent lows in anticipation of higher interest rates. People now a days have a plenty of alternatives to protect themselves from inflation from real estate to bonds but still gold is preferred a lot as a hedge to Inflation and much convincing to the consumers.

"Because gold is perceived inflation hedge,we will still likely see some allocation into gold leading up to inflation moving higher," Standard charted analyst Suki cooper said.

Gold and its Monetary use

Gold has been widely used throughout the world as money, for efficient indirect exchange (versus barter), to store wealth in hoards. For exchange purposes, mints produce standardized gold coins,bars and other units of fixed weight and purity.

As per evidence the first known coins of gold or gold embedded were found in Lydia, Asia minor, around 600 B.C. Europeans re-established the minting of gold coins during the 13th and 14th century. Bills and golds certificates were in circulation as gold standard money in most 19th century industrial economy. After world war 2 gold was replaced by a system of nominally convertible currencies related by fixed exchange rates following the Bretton woods system. Gold standards and direct convertibility of currencies to gold have been abandoned by World governments, led in 1971 by the United States refuse its dollars to redeem its gold. Now in present times Fiat currencies plays all the monetary roles. Central still continue to keep the portion of liquid reserves in Gold in some form. Today Gold mining output is declining. Today the output of Gold mining is declining. Due to sharp increase in growth of economies in 20th century, and increase in foreign exchange, the worlds Gold reserves and there trading market have become a small fraction of all the markets and fixed exchange rate of currencies to gold have been replaced by floating prices for gold and gold future contract.

Prices

As per 2017, gold is valued at around $42 per gram ($1,300 per troy ounce). Like other precious metal gold is always valued at minor weight units such as troy weight and by grams. The propotion of gold in the alloy is measured by karat (K), with 24 carat (24K) being pure gold,and lower karat numbers is proportionally less. The purity of gold bar or coin can also be expressed as a decimal figure ranging from 0 to 1, known as millesimal fineness, such as 0.995 being nearly pure.

The price of Gold is determined through trading in gold and derivatives markets, but the procedure is known as gold fixing in London, originating in September 1919, provides the daily benchmark price to the Industry. The afternoon fixing was introduced in 1968 to provide a price when U.S markets are open.

History

In late 2009, gold markets experienced renewed momentum upwards due to increased demand and weakening U.S dollar. Gold further railed hitting new highs in May 2010 after European debt crisis prompted further purchase of Gold as a safe asset.  

Capitalism

Introduction

When we think about capitalism we think about Inequality in income, human right violation, money making opportunity etc. In this topic we would learn about capitalism with its history in contrast and production due to it and how industrial capitalism changed it.

Meaning

So capitalism is an economic system but as well as a cultural system. It is characterized by innovation and investment to increase wealth. In simple it is an economic system that relies in investment of capital in machines and technology that are used to increase production of marketable goods.

How it happened

It all started in 1200 C.E when mercantile capitalism started in which often businesses started taking loans for the operation's of there businesses when they earn the money they pay it to the banks to repay there loan. After that the merchants in the Netherlands and England has setup the joint stock companies. But industrial capitalism is much different the mercantile capitalism. 

Types of Capatalism

Advanced Capitalism

Advanced capitalism is the situation that pertains to a society in which the capitalist model has been integrated and developed deeply and extensively for a prolonged period. Various writers identify Antonio Gramsci as an influential early theorist of advanced capitalism, even if he did not use the term himself. In his writings, Gramsci sought to explain how capitalism had adapted to avoid the revolutionary overthrow that had seemed inevitable in the 19th century. At the heart of his explanation was the decline of raw coercion as a tool of class power, replaced by use of civil society institutions to manipulate public ideology in the capitalists' favour.

Finance Capitalism

In their critique of capitalism, Marxism and Leninism both emphasise the role of "finance capital" as the determining and ruling-class interest in capitalist society, particularly in the latter stages.

Rudolf Hilferding is credited with first bringing the term "finance capitalism" into prominence through Finance Capital, his 1910 study of the links between German trusts, banks and monopolies—a study subsumed by Vladimir Lenin into Imperialism, the Highest Stage of Capitalism (1917), his analysis of the imperialist relations of the great world powers. Lenin concluded that the banks at that time operated as "the chief nerve centres of the whole capitalist system of national economy". For the Comintern (founded in 1919), the phrase "dictatorship of finance capitalism" became a regular one.

Mercantile capitalism

Mercantilism is a nationalist form of early capitalism that came into existence approximately in the late 16th century. It is characterized by the intertwining of national business interests to state-interest and imperialism; and consequently, the state apparatus is utilized to advance national business interests abroad. An example of this is colonists living in America who were only allowed to trade with and purchase goods from their respective mother countries (e.g. Britain, Portugal and France). Mercantilism was driven by the belief that the wealth of a nation is increased through a positive balance of trade with other nations—it corresponds to the phase of capitalist development sometimes called the primitive accumulation of capital.

Free Market Economy

Free market economy refers to a capitalist economic system where prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy. It typically entails support for highly competitive trmarkets and private ownership of productive enterprises. Laissez-faire is a more extensive form of free market economy where the role of the state is limited to protecting property rights.

Social Market Economy

A social market economy is a nominally free market system where government intervention in price formation is kept to a minimum, but the state provides significant services in the area of social security, unemployment benefits and recognition of labor rights through national collective bargaining arrangements. This model is prominent in Western and Northern European countries as well as Japan, albeit in slightly different configurations. The vast majority of enterprises are privately owned in this economic model.

Rhine capitalism refers to the contemporary model of capitalism and adaptation of the social market model that exists in continental Western Europe today.

State Capitalism

State capitalism is a capitalist market economy dominated by state-owned enterprises, where the state enterprises are organized as commercial, profit-seeking businesses. The designation has been used broadly throughout the 20th century to designate a number of different economic forms, ranging from state-ownership in market economies to the command economies of the former Eastern Bloc. According to Aldo Musacchio, a professor at Harvard Business School, state capitalism is a system in which governments, whether democratic or autocratic, exercise a widespread influence on the economy either through direct ownership or various subsidies. Musacchio notes a number of differences between today's state capitalism and its predecessors. In his opinion, gone are the days when governments appointed bureaucrats to run companies: the world's largest state-owned enterprises are now traded on the public markets and kept in good health by large institutional investors. Contemporary state capitalism is associated with the East Asian model of capitalism, dirigisme and the economy of Norway. Alternatively, Merriam-Webster defines state capitalism as "an economic system in which private capitalism is modified by a varying degree of government ownership and control".

Corporate Capitalism

Corporate capitalism is a free or mixed-market economy characterized by the dominance of hierarchical, bureaucratic corporations.

Mixed Economy

A mixed economy is a largely market-based economy consisting of both private and public ownership of the means of production and economic interventionism through macroeconomic policies intended to correct market failures, reduce unemployment and keep inflation low. The degree of intervention in markets varies among different countries. Some mixed economies, such as France under dirigisme, also featured a degree of indirect economic planning over a largely capitalist-based economy.

Most modern capitalist economies are defined as "mixed economies" to some degree.

Industrial Rovolution

Introduction

As we know that industrial revolution is one of the prominent as well as influential revolution of our time but why so is explained in this article to the best i can. This revolution is unlike any other revolution as it help us to achieve an era which now known to us as Modern era. An era in which production,services,agriculture,communication or any other sector has become so advanced which can't be even imagined by individual's 500 year's ago.

How it has changed our lives

You have electricity in home it is industrial revolution. Blueberries in February industrial revolution. You live somewhere other then the farm industrial revolution. You drive a car industrial revolution. You get free elementary education industrial revolution. Your medicines which are non herbal your gadgets your toilet all are just industrial revolution. Every thing related around you is industrial revolution.

How it happened

The industrial revolution was an increase in production brought about by the use of machines. And characterized by the new energy sources. It started around 1750 A.D, It occurred around most of the World but started in Europe especially in Britain. Industrial revolution is very much connected to Invention or we can say that invention's are the backbone to the Industrial revolution like the invention of steam engine lead to take out water from the coal mine in return more coal availability lead to working of more steam engines which lead to railway and Ships with steam engines.

Coal role in Industrial revolution

Coal had been the biggest advantage to the British the reason why industrial revolution is so centered around Britain. When you trace the story of improved transportation or communication or industrial efficiency or better chemical manufacturing it always comes back to coal  because the industrial revolution using different forms of energy to automate production and England has large supply of coal that were near the surface it was cheap to obtain so it was easily replaced wood for heating and cooking. So steam engines use cheap British coal to keep british coal cheap and cheap british coal created the opportunity for everything from rail road to steel, which like so much else in the industrial revolution, created a positive feedback loop.

Wages

Wages were high and energy was cheap. These prices lead directly to the industrial revolution by giving, strong incentives to invent technologies that substituted capital and coal for labor. In Britain the labor were low in population and capital is high so there was a need to introduce new technologies and machinery to compete with foriegn market which had led to industrialization.