Why did the Great Divergence Occur - 1384 Words

The Great Divergence is term used to portray the gradual shift of dominance that Europe gained by establishing itself as the most powerful world civilization by the 19th century. While a case could be made that the Great Divergence occurred because of the pre-eminence of Europe and Britain, as well as their supposed superiority in invention and innovation above anywhere else in the world, this argument is flawed. A more compelling argument would be to state that it was rather through the geographical advantages that Europe obtained that lead it into eventually becoming the most powerful civilization after 1500 A.D., as this essay will strive to demonstrate. A case could be made that the Great Divergence ultimately grew on the basis of†¦show more content†¦McNeil is also critical of Landes’ preoccupation in the happenings of Europe alone, while remaining dismissive of all economic and technological accomplishments of China after 1 000 A.D. While Landes dismisses the economic demise of China as a â€Å"weird pattern of isolated initiatives and Sisyphean discontinuities,† McNeil instead portrays the rapid innovations of the Sung era, and how they were damaged and disrupted by Mongol conquests and contained within the Ming dynasty, thereby showing that Europe did not surpass Europe in achievement due to their own pre-eminence. Furthermore, while Landes bestows Europe with the accountability of â€Å"invention of invention,† many of the ground-breaking inventions that the world saw in the 15th century were generated in non-European societies. In 895 A.D., China saw the invention of gunpowder. While initially used for flame throwing, it was soon used in bombs, grenades and rockets by 1231 A.D. This opposes the theory that Europe took initiative to employ gunpowder in warfare while China merely used it for leisurely purposes, including flame throwing. Printing and paper-making were also invented in China, and ultimately led to the widespread use of paper currency and the printing of literature. China also saw the innovation of printing by paving the way towards other inventions such as wallpaper, tissue paper, toilet paper and certain articles of clothing. Many of theseShow MoreRelatedThe Great Divergence : China, Europe And The Making Of The Modern World Economy Essay1726 Words   |  7 Pagesquest ions: Why did the Malthusian Trap persist so long? Why the Industrial Revolution occur in England, in1800? Why did the consequent Great Divergence appear? The general answers are: the slow rate of technology advances; the survival of the richest which helps to transmit middle class consciousness; the differences in efficiency caused by labour quality. Thus, Clark considered the success of England more inclined to the culture aspect. Kenneth Pomeranz, the author of The Great Divergence: China,Read More Essay on Number Theory1704 Words   |  7 PagesFibonacci numbers appear in nature is the rabbit family line (and bee family line as well). Another strange way in which the Fibonacci numbers relate to nature is the plant kingdom. Because of these strange relationships, I ask the question: How and why do the Fibonacci numbers appear in nature? In this paper, I will attempt to answer this question. Pascal?s Triangle - Golden Rectangle 2 The man behind the Fibonacci numbers, Leonardo Fibonacci, was born in Pisa in 1175 A.D. During his life, he wasRead MoreThe New Geography Of Jobs1252 Words   |  6 Pagescause of the divergence of the economy in the United States is that cities until nowadays have a traditional economy and they did not shift to knowledge or human capital economy. However, on the opposite side, many cities took advantage of the human capital and invested their forces to be a high-tech market. The book, â€Å"The New Geography of Jobs† of Enrico Moretti is a perfect tool that explains the reasons why this might happen. The book focuses in to explain why the â€Å"Great Divergence† which the AmericanRead MoreEssay on Literary Analysis on Revelation794 Words   |  4 Pagesby her personal upbringing in the South. She lived in the time where people from the South were very intolerant and narrow-minded towards people who had a different lifestyle and who were of a different race. Because S outherners believed people who did not live up to their wealth or status were inferior, it offered O’Connor the exact descriptions she wanted for the characters in this story. The main character in this story, Mrs. Turpin, is extremely prejudice and uses many terms of racial terminologyRead MorePleistocene Ecosystem1114 Words   |  5 Pagesthe Death Valley Region (Fig. 1; Miller 1981). These pluvial lakes would have allowed fish passage between what are now isolated basins. As the rivers eroded the landscape and the climatic conditions began to change at the end of the last ice age so did the waterways within the Death Valley region. Water tables dropped and aquatic habitat became more and more fragmented (Martin Wilcox 2004). Discussion Many genetic studies of the Western pupfish clade have been conducted over the years. A varietyRead MoreOrganizational Deviance And Termination And Interagency Collaboration1633 Words   |  7 Pages(Giblin, 2014, 130). The court system, the crime lab and the witness eye testimonies were all inconclusive and did not match up. For example, the offenders were described one way but Sutton was not remotely similar to the description. Later, DNA that was recovered was concluded that it could not have been his. After serving some of his prison sentence, Sutton was finally released. This is a great example of organizational failure and deviance. There are many terms to describe organizational devianceRead MoreHow Organizations Can Be Deviant And Ultimately Terminated1622 Words   |  7 Pages(Giblin, 2014, 130). The court system, the crime lab and the witness eye testimonies were all inconclusive and did not match up. For example, the offenders were described one way but Sutton was not remotely similar to the description. Later, DNA that was recovered was concluded that it could not have been his. After serving some of his prison sentence, Sutton was finally released. This is a great example of organizational failure and deviance. There are many terms to describe organizational devianceRead MoreWhat Does The Cambrian Explosion Tell Us About Evolution?1754 Words   |  8 Pagesgradual change over time – otherwise known as uniformitarian theory (Erwin, 2011). This inconsistency begs the question: What does the Cambrian explosion tell us about evolution? Are we simply missing information, and the process is indeed gradual – or did something unusual and fairly rapid happen in Cambrian? Knowledge of relationships between animals may allow us to deduce the answer: the two main branches of the animal tree are protostomes and deuterostomes, while the trunk of the tree includes spongesRead MoreThe Origin Of Life And Evolution1744 Words   |  7 PagesThe integration of reason and thought with the methodology of science in most human activities has enabled a great deal of scientific and technological advancements for humanity in the last centuries. On the contrary, even though it is nearly 150 years since the Origin of Species (Charles Darwin, 1859), it seems paradoxical that there are still a great significant amount of people who maintain an anti-darwian position on the origin of life and species. A poll done by Gallup Institute in 2004 showedRead MoreA Higher Power1392 Words   |  6 Pageseach other. One by one, each person steps outside, each feeling spiritually rejuvenated and prepared to face the day. Regardless of the specific belief, there is no question that faith in a religion or a higher power is the very foundation inspires a great majority of society. It is the force that urges humans to fight on through their routinely dismal lives and the force that motivates hard workers to continue their path to eventual prosperity. Considering the magnitude of the term â€Å"a higher power†

Iraq Backlash Free Essays

The main argument in this article is that the continued involvement of the United States in the war in Iraq will lead to unforeseen and even disastrous consequences such as a civil war or even global war given the fact that the United States is ill equipped at dealing with the insurgents and in properly identifying its role in the conflict and the impact of its continued involvement in the war. The writer presents his views by first defining what backlash is and proceeding to show the escalating death toll and skirmishes that have happened in Iraq since the United States has gotten involved. The writer then paints a grim picture of future that lies ahead if the United States continues its policies and involvement in the conflicts in the Middle East and the war in Iraq. We will write a custom essay sample on Iraq Backlash or any similar topic only for you Order Now The view presented by the writer is correct to the extent that the continued involvement of the United States could indeed make them the victim of unforeseen and disastrous consequences such a rising casualties of the armed forces currently stationed there and of the civilians. The continued involvement in Iraq could also be detrimental to the United States economy as any conflict in the Middle East causes the price of oil to rise and directly affects the economic output of any country. A prolonged war, as in this case, caused by continued United States involvement will definitely affect its economy in the long run. The writer however is too quick to point out that global war will be the direct effect of such actions. There is no substantial evidence to show that this will indeed result to a world war III or a world war IV. The other world leaders have been quick to show that the United States is acting on its own accord and have refused to lend any aid in the war in Iraq. How to cite Iraq Backlash, Papers

Financial Analysis Of Tesco J Sainsbury Accounting Essay Example For Students

Financial Analysis Of Tesco J Sainsbury Accounting Essay In this study, fiscal place and accomplishments of Tesco plc is compared and adverted with its close rival J. Sainsbury plc for the three fiscal old ages 2008-2010 as listed on the London Stock Exchange. To happen out which company is better for investing, we will transport out perpendicular and horizontal analysis. Decision will be drawn in the terminal after analysing the companies separately on the footing of analysis. We are emphasizing upon public presentation and profitableness indexs which will assist to happen out which company is better for investing. We besides have stressed upon the indexs of sound fiscal place such on the job capital direction, liquidness and solvency. Outline1 J SAINSBURY plc2 J Sainsbury3 Vertical Analysis of Income Statement4 Gross Proi ¬?t5 5.62 %6 Operating Proi ¬?t7 2.97 %8 Proi ¬?t for the i ¬?nancial twelvemonth9 1.84 %10 Profitableness and Performance:11 J Sainsbury12 Horizontal Analysis of Income Statement13 Fiscal Position14 J Sainsbury plc15 Balance Sheet Trend Analysis16 Non-current assets17 18 19 20 21 Current assets22 Entire assets23 Current liabilities24 Net current liabilities25 Non-current liabilities:26 Net assets27 Equity28 29 30 Entire equity31 Liquid and Solvency:32 Working Capital Management:33 TESCO plc34 Tesco plc35 Vertical Analysis of Income Statement36 53 hebdomads ended 28 February 200937 Continuing operations38 Gross ( gross revenues excepting VAT )39 40 41 42 43 44 45 Gross net income46 Operating net income47 48 49 50 Net income before revenue enhancement51 52 53 54 Net income for the twelvemonth55 Performance and Profitableness:56 Tesco plc57 Horizontal Analysis of Income Statement58 59 60 61 62 Tesco Plc63 Balance Sheet Trend Analysis64 Fiscal Position:65 Working Capital Management:66 Decision J SAINSBURY plc The following exhibits show the horizontal and perpendicular analysis of J. Sainsbury s fiscal place: J Sainsbury Vertical Analysis of Income Statement Year 2010 2009 2008 Gross 100.00 % 100.00 % 100.00 % Cost of gross revenues -94.58 % -94.52 % -94.38 % Gross Proi ¬?t 5.42 % 5.48 % 5.62 % Administrative disbursals -2 % -2.22 % -2.81 % Other income 0.14 % 0.30 % 0.17 % Operating Proi ¬?t 3.56 % 3.56 % 2.97 % Finance income 0.16 % 0.27 % 0.47 % Finance costs -0.74 % -0.78 % -0.74 % Share of post-tax loss from joint ventures 0.69 % -0.59 % -0.01 % Proi ¬?t before revenue enhancement 3.67 % 2.46 % 2.69 % Income revenue enhancement disbursal -0.74 % -0.94 % -0.84 % Proi ¬?t for the i ¬?nancial twelvemonth 2.93 % 1.53 % 1.84 % Profitableness and Performance: It can be concluded from above analysis that company is runing in a concentrated market. The cost of goods is devouring more than 90 % of gross revenues gross ensuing in coevals of 5-7 % of gross net income. The company is gaining negligible net income of 1.8 % 3 % on gross revenues gross in three old ages while other disbursals are of no effects. As gross revenues growing is equal to mean rate of rising prices, so we can detect from horizontal analysis of income statement shown below that the market is non turning and there is no existent growing in gross revenues. This besides shows that net income figures of fiscal twelvemonth 2008-2009 have decreased finally. J Sainsbury Horizontal Analysis of Income Statement 2010-2009 2009-2008 Gross 5.56 % 6.02 % Cost of gross revenues 5.63 % 6.18 % Gross Proi ¬?t 4.44 % 3.39 % Administrative disbursals -5 % -16.33 % Other income -52.63 % 90.00 % Operating Proi ¬?t 5.49 % 26.98 % Finance income -36.53 % -37.35 % Finance costs 0.00 % 12.12 % Share of post-tax loss from joint ventures 24.32 % 5450 % Proi ¬?t before revenue enhancement 57.29 % -2.71 % Analyzed as: Underliing Proi ¬?t before revenue enhancement 12.33 % 11.27 % Proi ¬?t on sale of belongingss -53.63 % 714.29 % Investing belongings just value motions -0.80 % 0.00 % Financing just value motions 50.00 % 150.00 % One-off points 0.00 % -100.00 % 57.29 % -2.71 % Income revenue enhancement disbursal -16.38 % 18.00 % Proi ¬?t for the i ¬?nancial twelvemonth 102.42 % -12.16 % Even though the gross revenues seems to turn from 4 % 6.02 % in the fiscal twelvemonth 2008-2009 but has decreased from 6.02 % 5.56 % in 2009-2010. The gross net income per centum has decreased from 5.62 % to 5.48 % during the twelvemonth 2008-2009 and from 5.48 % to 5.42 % in the twelvemonth 2009-2010. Contrary the operating net income has increased during 2008-2009 from 2.97 % to 3.56 % and has remained changeless during the clip period of 2009-2010. This shows that the profitableness of the company has risen during the above mentioned fiscal twelvemonth. In order to stay profitable the company needs to command its costs as company is already in a concentrated market. Types Of Teachers Essay5.90 % 2,791 5.90 % Share of post-tax net incomes of joint ventures and associates 33 0.05 % 110 0.20 % 75 0.16 % Net income on sale of investings in associates 0.00 % 0.00 % 0.00 % Finance income 265 0.46 % 116 0.21 % 187 0.40 % Finance costs ( 579 ) -1.01 % ( 478 ) -0.88 % ( 250 ) -0.53 % Net income before revenue enhancement 3,176 5.58 % 2,954 5.44 % 2,803 5.93 % Tax ( 840 ) -1.47 % ( 788 ) -1.45 % ( 673 ) -1.42 % Net income for the twelvemonth from go oning operations 2,336 4.10 % 2,166 3.99 % 1,881 2,130 Discontinued operation Net income for the twelvemonth from discontinued operation 0.00 % 0.00 % 0.00 % Net income for the twelvemonth 2,336 4.10 % 2,166 3.99 % 2,130 4.50 % Performance and Profitableness: The fiscal state of affairs of this company is about same as of J. Sainsbury which is because both belong to the retail industry. Again, more than 90 % of gross is the cost of goods. The gross net income per centum is a small spot better than that of its rival which is accounted around 7 % . The operating net income of the company is more than J. Sainsbury which is about 5-6 % and other disbursals are minor. The tendency analysis are exhibited below: Tesco plc Horizontal Analysis of Income Statement 2010-2009 2009-2008 Gross ( gross revenues excepting VAT ) 4.75 % 14.86 % Cost of Gross saless 4.30 % 14.75 % Pensions adjustment Finance Act 2006 Damage of the Gerrards Cross site Gross net income 9.20 % 16.20 % Administrative disbursals 22.35 % 21.52 % Net income originating on property-related points 59.75 % 25.53 % Operating net income 7.82 % 14.87 % Share of post-tax net incomes of joint ventures and associates -70.0 % 46.67 % Net income on sale of investings in associates 0.00 % 0.00 % Finance income 128.44 % -37.97 % Finance costs 21.12 % 91.20 % Net income before revenue enhancement 7.51 % 5.39 % Tax 6.59 % 17.09 % Net income for the twelvemonth from go oning operations 7.84 % 1.69 % Discontinued operation Net income for the twelvemonth from discontinued operation Net income for the twelvemonth 7.84 % 1.69 % Harmonizing to the above analysis, net income has increased by 1.7 % in 2008-2009 and by an optimal amount of 7.84 % in the twelvemonth 2009-2010. The administrative disbursals have increased in 2009 and 2010 because of the decline income by the belongingss. Tesco Plc Balance Sheet Trend Analysis 27 February 2010 2010-2009 A ; lb ; m 2009-2008 A ; lb ; m Non-current assets 6.77 % 34.45 % Current assets ( including non-current assets held for sale ) -12.71 % 113.95 % Current liabilities -8.97 % 71.44 % Net current liabilities 3.25 % 3.86 % Entire assets less current liabilities 7.29 % 40.54 % Non-current liabilities 1.75 % 88.31 % Net assets 13.75 % 8.43 % Equity attributable to proprietors of the parent 13.59 % 8.75 % Minority involvements 49.12 % -34.48 % Entire equity 13.75 % 8.43 % Fiscal Position: The liquidness state of affairs of the company is non every bit much as observed in the current ratio which is critically low. These ratios require more attending even they are increasing from 2008 to 2010. Debt ratio is the index of long-run fiscal stableness, it shows a major growing of debt in balance sheet over the old ages which should be controlled to stay changeless financially. Working Capital Management: In this company, the stock list is turning over more quickly as comparison to the other one debitor s turnover ratio has increased in histories receivable. From above analysis, it is clear that the fiscal state of affairs of Tesco Plc is better than J. Sainsbury. Decision We can detect from the analysis carried out above that the state of affairs of the market is saturated and possibilities of gaining ace net income are minuscular. More than 90 % of gross is spend on the cost of goods sold by both the companies which result in the gross net income of 5-8 % . In order to increase the profitableness in this state of affairs, the cost should be controlled. But Tesco is better option for investing due to following grounds: It is bring forthing a small higher gross net income ; It has kept non-merchandizing costs at lower limit ; It is paying higher dividends ; It is demoing faster growing Both companies have significantly high debt ratio and low current ratio every bit good as quick ratio which show that the fiscal place of none of these companies is impressive.