Make It Happen

then this would be strictly true

The needle is subject to a perpendicular as well as a ver­tical motion. Norman discovered that a needle, accurately balanced, and perfectly horizontal before it was touched by a magnet, always lost its position after the magnetic principle was communicated to it, the north pole declining below the horizon in those countries situated in the northern hemisphere. This ingenious philosopher invented an instrument by which to measure the inclination or dip, and determined it to be, in London, about 71° 50′. This experiment ia supposed to hsve been made in the year 1576. The same philosopher was aware of the fact that the dip changes with the situation of tbe place .in which the needle is suspended, though he was not aware of the circumstances which influence this change. It may be stated, as a general law, that the dip increases from the equator to the polos. If the poles of the earth’s rotation were the magnetic poles, then this would be strictly true, and on tho equator tne magnet would be horizontal, while at the poles it would be vertical. But, as the terres­trial and magnetic poles do not coincide, neither can the ter­restrial and magnetic equator. The dip may bo very well illustrated by suspending a small magnetic needle over a large bar magnet; when tne middle is situated directly over the centre of the msgnet it will be horizontal, having no tendency to incline cither to one pole or the other. But, as it is removed from this point to either end, the inclination is observed; and when situated over the pole, it would, if uninfluenced by other forces, be quite ver­tical. The same appearances are observed on the surface of the earth, for it acts as though it were a magnet; and there is a line callcd the magnotic equator, on which the magnetic needle has no dip, aud there arc points in both hemispheres where it is vertical. The magnetic equator is not an exact circle of the sphere, for although it docs not recede from the terrestrial equator, north or south, more than 15° or 16°, yet it cuts the equator in three or more places. Captain Duperry crossed the pleted in 1825. The results of his observations are given in the ” Annalcs dc Chimic et de Physique.” The node of the magnetic equator, or that point wncre it crosses tho equator of the earth, is near the Island of St. Thomas, about 3° 20′ to the east of the meridian of Paris. From this point it advances rapidly to the northeast, and crosses the continent of Africa. It then stretches onward, for a short distance, in a line almost parallel to the’equator, but, gradually declining, passes through the south of Hindoetan, touching the northern extremity of the Island of Ceylon, and forms an irregular line passing through Malacca, the north of the Island of Borneo, and to the south of the Carolines. At about 175° east of Paris it again crosses the equator, and makes but a small angle until it reaches about 100° west from Paris, when it takes an eccentric course through South America, having, in some places, a distance from it of 16°. It then passes, m an irregular line, through the Atlantic to­wards tne Island of St. Thomas.

he discovered that the colours could

Bat let a glue prism, a b c, be interposed between the aperture and the screen, and in snch s position that tbe ny may fall on the surface b c, and emerge from the surface a e at equal angles, and the ray will be not only deflected, bat decomposed, and a coloured image of the son will be formed on the screen S S. Having ascertained that white light is capable of decom­position, a new subject of inquiry is immediately suggested to the mind: is it not possible that the component rays them­selves may be compound, and that the same process which decomposed the wnite light may also decompose theml Sir Isaac Newton made tbe experiment; but after examining each coloured ray, making them in their order to pass through a small hole in the screen, and to fall upon a second prism placed behind it, he discovered that the colours could not be again decomposed, but obeyed the common law of refraction, that which governs white light under ordinary circumstances. From these results it may be deduced, that tne coloured rays resulting from the decomposition of white light are homoge­neous, and they are therefore called the primary colours; while those wJlkA are formed by the combination of two ok more primary rays are denominated secondary. Only one thing is now necessary to folly prove the com­pound nature o? white light, and that is to recompose tbe seven colours, and to produce from them the original colour. To accomplish this object, take a second prism, made of the same kind of glass, ami having the same refracting angle, and place the two together so that they may form a parallelo  gramic figure, and all the seven rays that are produced by analysis with the first prism, are reunited and combined by the second, a single white spot being formed. In this ex­periment the separate results may be distinctly seen; the de­composition by the one, and the composition by the other  Tnat the seven primitive colours produce white light may be proved by painting a circular board in such a manner as to represent the intensity and proportion of the seven coloura. When this board is put into rapid revolution, the primitive colours are resolved into an almost pure white. decomposition of light bt absorption. Having proved the compound nature of light, both by anal­ysis and synthesis, it will bs only necessary to stats that light may be decomposed by absorption. When light falls upon a transparent body, one portion is transmitted through it, another is dispersed by irregular reflection, while a third is stopped, or absorbed, by the substance itself.

the tube should be hermetically

The degree of dilatation will  not be the same in either two. To determine the dilatation of a liquid is a very simple ex­periment, though the method to which we refer is subject to several minute errors. If a thermometer tube, that is, a tube having a bulb at one end, bo partly filled with a liquid, it may be submitted to any degree of heat, and the difference of level between the commencement and close of the experiment will give the dilatation. But, in making this experiment, it is necessary that the air contained in the liquid and the tube should be first expelled, or its expsnsion will give a false re­sult ; and not only so, but as liquids become vapours at all temperatures when exposed to the atmosphere, and more abundantly as the temperature is raised, the quantity of the liquid will be diminished, and an erroneous opinion might be deduced. To prevent these two sources of error, the tube should be about half filled with water, and boiled for some time to expel the air; and when this has been done, the open end of the tube should be hermetically sesled. Liquids, generally, have a uniform expansion or contrac­tion, except when the temperatures approach those degrees at which they boil and freeze, and then tneir degree of dilatation is changed. Water is a most remarkable exception to this law. As its temperature is lowered, it continues to contract until it reaches about 89° of Fahrenheit’s thermometer, and then the contraction ceases; but when its temperature is lowered to nearly the freezing point, it begins to ecpand, and continues to do so until it is frozen. This fact is one of con­siderable importance, for the expansion of water when in the act of freezing must in many cases be an active cause in the destruction of rocks, and will explain many results which are witnessed in regions subject to extreme cold. A lake, when frozen over, must, by its expansion, tend to destroy its banks, and form a considerable mass of detritus, and in this way ex­tend by degrees the surface of its waters. But it is in ele­vated countries, which are for a large portion of the year cov­ered by immense bodies of ice, that tne effects are most fre­quently observed. Fissures sre filled with water, which, when congealed, expands so violently as to rend rocks asun  dor, projecting large fragments into the valleys beneath, and breaking sway the lofty pinnacles from their parent beds.

Haziitt had to quit school and seek

That alone would have been sufficient to earn Hazlitt’s space in the pantheon of great Austrian economists. But, in fact, Haziitt also made scholarly contributions of his own to Austrian literature, particularly with his detailed response to John Maynard Keynes’s General Theory, published at the height of Keynesian dominance of the profession. With­out Hazlitt’s hard work and his sacrifice of professional status for fixed principles, the history of the Austrian School in America would have been very different indeed. Haziitt was born in Philadelphia in 1894. His father died when Haziitt was only nvo years old His schooling began at Girard College, established to provide a good education for boys without fathers. When Haziitt was nine, his mother remarried, and the family moved to Brook­lyn.’ He attended the Boys High School in Brooklyn, where his “great gods” became Herbert Spencer and William James. Hestudied for a year at the College of the City of New York, but when he ran out of money, Haziitt had to quit school and seek employment. After a series of quick jobs, he found a position at the Wall Street journal as a stenographer5 He began working on his first book. Thinking as a Science, and, in an impressive accomplishment for a twcnty vear old, found a major publisher for it.4 After a brief stint in the Army Air Corps, he wrote The Way to Will Pozivr, a critique of psychoanalysis, in 1915.sNext, he became a full time editorialist with the New York Evening Post  1916 18 , the financial letter of the Mechanics   Metals National Bank  1919 20 , the Neu  York Evening Mail  1921 23 , and the New York Sun  1924 29 . It was this last position that established his reputation as a literary critic, and attracted the interest of The Nation magazine, where he served as literary editor from 1930 1933, in addition to writing chapters on literary topics in a numberof important books appearing at the time.’

 IN THE PERIOD between the founders of the Aus­trian School  Menger

Bohm Bawerk, and Wie­ser  and its next generation  led by Mises and I layek , Frank Albert Fetter was the standard  bearer of Austrian economics. His 1904 trea­tise, Principles of Economics,1 constructed a general theory of economics in the Austrian tradition that went unsurpassed until Ludwig von Mises’s treatise of 1940, Nalionaldkonomie. Yet Fetter, an American Austrian long before the interwar migration from Austria, has not received due recognition for his many contri­butions to this school of   thought.  Using the axiomatic deductive method, Fetter traced economic laws to individual hu­man action. In so doing, he demonstrated that just as the price of each consumer good is determined solely by subjective value, so is the inter­est rate determined solely by time preference. The rental price of each producer good is imputed to it by entrepreneurial demand, and is equal to its discounted marginal value product. The capital value of each dura­ble good is equal to the discounted value of its future rents. Fetter showed how this uniform, subjective theory of value implies the demise of socialist theories of labor exploitation, Ricardian theories of rent, and productivity theories of interest.  Building on the Austrian theories of capital, money, interest, and entrepreneurship, Fetter even developed a rudimentary theory of the trade cycle, arguing that the boom period is characterized by the artifi­cial swelling of capital values as money and credit expand. The crisis follows when the inflation ceases which causes the mistaken capital val­ues of the boom to suddenly correct downward and, in turn, results in the bankruptcy, unemployment, and retrenchment of the depression. His work on capital and interest has yet to be surpassed or even fully appreciated, even by Austrians; much more than a correction of Eugen von Bohm Bawerk’s lapse into a productivity theory of interest, it is the foundation for all work on capitalization and the definitive refutation of the claim that productivity has any role in determining the interest rate. BACKGROUND Born on March 8,1863, in the farming community of Peru in north cen  tral Indiana, Fetter enrolled at Indiana University at the age of sixteen.

Performance measure indicates the direction for the performance

Performance measure indicates the direction for the performance  e.g. reduction, increase  while performance indicators are conceived mote narrowly as data elements. For the purpose of this study, the following definition was adopted for both performance indicator and perfomiance measure: A100I enabling: i  ihe effectiveness of an operation or of an organisation 10 be measured: or ii  an achieved result to be gauged or evaluated in relation lo a sci objective.  Of the IS performance indicators selected for the field test, ten could be defined as exact measures with an associated absolute value. Tbe other five wen: “yes/no” indicators, giving a qualitative measure of perfonnance rather than exact values. Additional data were required for further analysis, particularly to give detailed explanations for the “yes” or “no” answers. The use to which performance indicators are put in different countries and toad administrations was of primary importance to this field test. A comparison of actual indicator results revealed little information on the performance of a road administration Selection of performance indicators The first step in the evaluation process was to define and select the performance indicators  Figure I.I . Understanding the role of performance indicators in improving the overall performance of a road administration b central lo this process. The 1997 OECD repon classified performance indicators for various aspects  dimension  of the road transport system according to the following three perspectives  Table 3.1 : Government  including stakeholders .

opportunity to deal with

 In conclusion, perhaps the sense in which Wicksteed can best be seen as Austrian is captured in Mises’s remarks on the distinguishing fea­tures of the economist. “The economist,” he wrote, deals with matters that are present and operative in every man    What distinguishes  the economist  from other people is not the eso­teric opportunity to deal with some special material not accessible to others, but the way he looks upon things and discovers in them aspects which other people fail to notice. It was this that Philip Wicksteed had in mind when he chose for his great treatise a motto from Goethe’s Faust: Human life—everybody lives it, but only to a few is it known.33 work for a year and look alter their children”  Dempsey, 2006 . Bui the assumption that families are not having babies because they cannot afford to stay home to take care of them is a misinterpretation of the falling fertility statistics. Women don’t want to stay at home. They want to stay at work. In the 21st century, if forced to choose between working and having a family, women are opting for work  given record high divorce rates, it can be financial folly not to . Birth rates will rise when governments and the private sector understand and support the reality of dual-income working parents. Instead of forcing people into outdated choices, they should facilitate a modern-day conciliation between work and family. The more comfortable both parents are made to feel in com­bining their multiple roles, the more children couples – and economies – are likely to have. Attempts to shift the debate are now catching on, helped in no small measure by the fact that many of the men currently ensconced in the upper echelons of political and economic power are beginning to see their own daughters face the dilemmas of adulthood.  The progress on modernising gender approaches is clearest in countries and companies which recognise that “women’s” issues are crucial political and economic subjects, ones requiring ptiblic sector solutions as well as private sector ones. To date, around the globe, the two have rarely acted in tandem. The US has favoured private sector pushes, with individual companies developing and promoting their employees internally. The UK has looked to a combination of the two. Europe and Asia, as is their wont, have relied more on public sector pulls.

Austrian prime minister R. Belcredi

He was the scion of an old Austrian family which in­cluded craftsmen, musicians, civil servants, and army officers, and which had emigrated from Bohemia a generation before his birth. His father, Anton, was a lawyer, and his mother, Caroline  nee Gerzabek , was the daughter of a wealthy Bohemian merchant. He had two broth­ers, Anton and Max: the former, an eminent socialist author and fellow professor in the Law Faculty of the University of Vienna; and the latter, a lawyer and a Liberal deputy in the Austrian Parliament. The Menger family had been ennobled, but Carl himself dropped the title “von0 in early adulthood. After studying economics at the Universities of Prague and Vienna from 1859 to 1863, Menger went to work as a journalist  in the summer of 1863. The young Menger quickly attained prominence in the journalistic profession, writing a number of novels and comedies  which were ap­parently serialized for newspapers  and, in 1865, meeting and sharing confidences with the Liberal Austrian prime minister R. Belcredi. In the Fall of 1866, he left the Wiener Zeilung, an official newspaper for which he was then working as a market analyst, in order to prepare for his oral examination for a doctorate in law. After passing this examination, Menger went to work as an apprentice lawyer in May 1867, receiving his law degree from the University of Krakow in August 1867. However, he soon returned to work as an economic journalist and helped to found a daily newspaper.6 It was in September 1867, immediately after receiving his law de  gree, that, reported Menger, he “threw  himself  into political econ­omy.”7 Over the next four years, he painstakingly worked out the system of thought that would so profoundly reshape economic theory when it came to fruition in 1871 with the publication of the Principles. As an economic journalist.

His  Smb  famous Treatise

It is doubtful whether Alfred Marshall had advanced beyond it, certain that John Stuart Mill had not. Bdhm-Bawerk no doubt added a new branch to it, but substan­tially he subscribed to Turgof s proposition.” Turgot’s interest theory is “not only by far the greatest performance … the eighteenth century produced but it clearly foreshadowed much of the best thought of the last decades of the nineteenth.”  beyond some rudimentary facts, very little is available in English about the life of J.B. Say.1 He was born in Lyons, France, to middle-class  Huguenot parents, and spent most of his early years in Geneva and London. Asa young man, he returned to France in the employ of a life insurance company, and soon became an in­fluential member of a group of strongly pro- free-market intellectuals.2 Indeed, Say was the first editor of La Decade Philosophique, a journal published by the group. After the Napoleonic Wars, he held a Chair of Political Economy at the Conservatoire des Arts el Metiers, and again, later, at the College de France. In addition to his  Smb  famous Treatise, his works included Cours Complet d’tconomie Politique Pratique and Letters to Mr. Malthus. By means of his writing, his influence spread to Italy, Spain, Germany, Rus­sia, Latin America, Great Britain, and the United States, in which latter country his admirers included Thomas Jefferson and James Madison. His devotion to laissez-faire principles appears to have been maintained throughout his life. Say died in Paris.  J.B. Say deserves to be remembered, especially by Austrian econo­mists, as a pivotal figure in the history of economic thought. Yet, onefinds him discussed very briefly, if at all. In fact, even Austrians have devoted little attention to Say’s contributions.3 Mainstream history-of-thought texts usually mention Say only briefly, and then only in connection with his law of markets, thereby implicitly trivializing much of his work. One of the exceptions is A His­tory of Economic Thought by Eric Roll.4 Roll treats Say with notable re­spect, but, unfortunately, partly because he misinterprets Say as an ancestor of modern general-equilibrium, positivistic, neoclassical economists.

When they talk of education

In theabove statements and remarks I have taken for granted, that thegovernment of this orof any other country, might afford, from thenational funds, a grantof money adequate to theestablishment of all theinstitutions to which I have alluded—whether infant schools,Sabbath evening institutions, seminaries for thehigher branches of moral and intellectual instruction, orpreceptoral colleges for thetraining of teachers. But although nogovernment were lo feel theleast interest insuch institutions, it ist»& power ofthepeople,and within therange of tbeau*** they actually possess, to establish them, independently of any extraneous support. This, I trust, will appear from theconsiderations stated in thepreceding paragraphs. Let a general”agitation be excited on this subject—let the importanceof it be clearly proved and illustrated—let the««»”? of doingsomething more than has hitherto been done inthis respect be fully established—let a convictionbe deeply impressed upon theminds of theinfluential classes of society, of theutilityof sora exertions for counteracting immorality and crime, for improving thesocial state of human beings, and preparing them for future felicity—let societies be formed and subscriptions entered in’ofor this Pnr” The only grantof money that was ever directly given by theBritish Parliament for (be promotion of education,was £30,000,which was conceded by theHouse of Commons in1833; and Mr. Colquhoun stated, in1834, that ” theutmost that Scotland required (ultimately) for thesupply of education,was a provision of £60,000 per annum.” Theproposal of such pitiful sumsfor so grand and extensive an object, is little short of an insult offered to thecause of education, and plainly indicates theimperfect and limited views which are still entertained on this subject. Some of our members of Parliament, when they talk of education, appearto mean noihing more than giving themass of thecommunity a few general instructions inreading, writing, and arithmetic, according to theold inefficient system which has so long prevailed. Theonly gentleman who has broached this topic in theHouse of Commons, and who appearsto entertain clear and comprehensive views on thesubject of education, is Mr. Roebuck ; but, unfortunately, his proposals and his luminous exposition of this subject, seem to have been, ina great measure, unappreciated and neglected.