Critically discuss the view that capital markets created the Essay - 2

Critically discuss the view that capital markets created the conditions that led to the new economy bubble and the banking crisis - Essay Example It is because of this reason that capital markets are considered to play a very significant role in the economic performance of any country, and therefore, they have a high influence on major economic indicators or drivers. Based on the significance of capital markets in the national economy of any country, this study seeks to discuss the view that capital markets created the conditions that led to the â€Å"new economy† bubble and the banking crisis. This study will support this view because of the simple fact that it has already been established that the capital markets plays a key role in the national economy and, therefore, it is equally able to create conditions that lead to bubbles and bursts within the economy. In order to validate this view, the essay will first discuss the concept of ‘new economy’ bubble and banking crisis and their correlation with the capital markets. The second part of the study will provide case examples, which will act as evidence to the fact that the capital markets created the conditions that lead to the new economy bubble and the banking crisis. The third part of the study will discuss the implications that globalization have on the capital markets. According to the writings by Kelly (1998), he referred to the term ‘new economy’ as the result of a shift that occurs when the economy moves from being based on the manufacturing sector to being based on the service sector. Alcaly (2003) noted in her research studies that this particular term was coined during the dot com bubble that occurred during the late 1990s and even the early part of 2000s. During this period, Alcaly (2003) argued that there were high levels of growth, which meant that there was an increase in the employment opportunities, and the inflation rate even declined, which resulted to optimistic predictions that were a bit exaggerated and based on irrational thinking. This is because the new economy era proved to have

Christian Church Art Architecture Essay Example | Topics and Well Written Essays - 750 words

Christian Church Art Architecture - Essay Example In fact, this is the building that I will attempt to effectively 'dissect' in order to ascertain to what extent it has been constructed from an amalgam of various styles as well as attempting to identify the particular styles in question. First, let us look at the details behind the design and construction of this building. The actual construction of this building began in 1851 and reached its completion some six years later. However, due to extensive damage, the building was reconstructed in the 1920s although the reconstruction remained true to the original design. The building was designed and built under the direction of Fr. John Cambiaso who was a Jesuit originating from Lyon in France. We learn that Fr. Cambiaso actually learnt the practice of architectural design during his stay in Spain and this gives us some clues behind his particular use of certain elements within the design. Because as we see from our first view of the church from the outside (fig. 1) it distinctly remind s us of those buildings that were produced under the Islamic and Moorish influences that were so predominant in the seventh and eighth centuries, especially in countries such as Persia, Egypt and Spain.(1) 2 Fig. 1 As we can see, the Moorish elements of this building are typical of how the designers let their imaginations play a little with both patterns and forms to produce designs that were almost dreamlike. However, another building that comes to mind here (especially with regards to the second level arches) is the Palace of the Doges of Venice that was built in the 14th century. It is from this that we learn that our particular church was in reality designed in a Venetian Gothic Style. It is then that we begin to notice the elements of this building that are so essential to the Gothic. In the words of the art historian Heinrich Wolfflin, we notice how in the gothic "†¦the vertical movement streams upwards without check and dissolves playfully at the top" (Wolfflin 60). We k now that the Gothic architects were particularly fond of intricate ornament and tracery and here we see examples of how, again in the words of Wolfflin, "[The Gothic] developed in the direction of ever slimmer and more pointed shapes, to a point of extreme exaggeration" (75). In fact, the Venetian Gothic Style was effectively revived during the 19th century. This revival was mainly down to the work of the British architectural critic, John Ruskin especially his book entitled The Stones of Venice (2). It was Ruskin who spoke of the lightness and soaring spaces of this style and, once inside the church, this is the first thing that strikes us. In fact, the massive height of the nave although typical of most churches in New Orleans is particularly stunning (fig 2) 3 Fig 2 The nave is lined with intricate arcading and 'triforium' windows so typically expansive enough for Gothic taste to permit huge amounts of natural light to swarm the interior. The arcading is layered on intricately de signed columns that incorporate the geometric designs so familiar within the Moorish style. There is also what is known as a Solomonic column (fig 3) that features a kind of corkscrew design. This style of column actually dates back to ancient Jerusalem and has become popularly used since because of its symbolic reference to the gates of paradise. Further adornments include chandeliers constructed of fine bronze, which again appear to be of Moorish style (fig 3). However, further