Fund Managers, Intangibles, and Private Disclosure Essay

Fund Managers, Intangibles, and Private Disclosure - Essay Example Intangibles come in many different forms and nature. Example of these includes structural capital, human capital and relational capital. In the present case, however, intellectual capital is the only intangible that is mentioned. A large extent, it can be said that this is so because the intellectual capital of the present company is made up of an embodiment of all the components of intangibles. What is more, given any market value, intellectual capital is believed to be made up of the difference in the market value and tangible assets possessed by the company. Therefore, because the core component of cash input in the case was share price, the intellectual capital was named as the only intangible to represent all difference that would come from the share price and tangible assets. One critical condition that can be used to judge whether the meeting constitutes insider information or not has to do with whether or not the information given can provide any form of financial advantage in the trading of shares of companies. From this perspective, since the meeting with the fund manager involved information on how value arose and how efforts can be put in place to ensure that in future dealings, more value arose from the intangibles, this advantage could be described as insider information. If for nothing at all, the information that was received was a non-public fact and not accessible to all other players in the share trade business. Ideally, because the overall income of the fund manager is determined by a ratio of the overall fund average asset, it would be said that the insider information was going to benefit the fund manager. This is because he was going to be put in a position where he was going to have better strategies put in place to manage the portfolio of trading activities and consequently see a higher rise in the fund’s average assets.

Motivation Essay Example | Topics and Well Written Essays - 2000 words - 3

Motivation - Essay Example GE as a company has been focused on HR and committed to its employees in many ways which go beyond the norms of reward management as compared to other companies. It has an innovative way of rewarding employees who uphold the values considered important by GE and this has given the company the respect and admiration of many business gurus (Demos, 2006). While the rewards for working at GE are many, the reward selection process uses a ranking system which punishes those employees who do not make the reward cut by termination. This has also caused some controversy as it can be seen as negative to the concepts of motivation but the overall effect of GE’s motivation techniques has been very positive and is well regarded by industry experts. Even though management and the rules applicable to motivating people change day to day as discoveries are made in the field (Beardwell &Holden, 1997). As early as the 1930s, GE was focused motivation for labour and had created profit based employee bonuses as well as pension plans. It is difficult to find companies which have innovated to such an extent that their name becomes associated with certain management practices. The vast majority of organizations will fade into history without establishing any leadership in management innovations but GE holds the unique position of not only having an established name, they have been the leaders in employee motivation for the better part of their existence (Colvin, 2006). The CEO of Ogilvy & Mather, Shelly Lazarus has been on the GE board for the past five years. She says that the process of rewarding employees begins as soon as the recruitment process is started. Even being offered a position at GE is a cause for celebration for a person since GE develops leaders who are groomed to take up positions at the head of the company (Colvin, 2006). I agree with this concept and the idea of evaluating employees for rewards as soon as they are recruited goes a long way towards

How has China been affected by globalization Essay Example for Free

How has China been affected by globalization Essay In the late 1970s China made perhaps its most significant strategic political manoeuvre of the 20th Century when it embarked on a series of economic reforms that embraced globalization (Bijian, 2005). Deng Xiaoping and other Chinese leaders believed that to further Chinas development, participation in an open global economy would be crucial to its survival (Chow, 2002) During the three decades since these reforms Chinas political and economic institutions have undergone a dramatic transition (Overholt, 2005 and Economy, 1998). China has shifted from the worlds greatest opponent of globalization into a committed member of a global economy and advocate of globalization (Overholt, 2005). The pinnacle of this transformation and Chinas economic growth was its admission into to the World Trade Organisation (WTO) on 11 December, 2001 (Allen et al, 2006 and Fishman, 2005). Consequently, China is now subjected to international trends and forces to a degree unprecedented since 1949 (Bijian, 2005 and Chow, 2004). In this essay I will analyse the effect that globalization has had on Chinas political, economic, legal and technological institutions. Furthermore, I will also analyse whether China has been forced to change to pander to the international economic community or whether it has voluntarily instituted change for its own benefit and development. However before analysing the effect that globalization has had on China it is important to understand what the term globalisation means. Globalisation became a buzz word in the 1990s because of its influence in creating a world in which geographic location became increasingly irrelevant (Immerfall 2006). In essence globalisation refers to the unrestricted flow of goods, capital, information, technology and people across national borders (Chow, 2005a). Globalisation is, however, by no means a new phenomenon and China has been subjected to its effects for many centuries (Alford, 1999). In fact, the effects of globalisation in China go as far back as the Han dynasty (206BC-220AD) when trade took place between the Han Chinese and neighbouring people in the North-west through the Silk Route (Chow, 2004: 3). Despite this, in the Qing Dynasty and the early stages of the Chinese Communist Partys rule, right up until Deng Xiaopings open door policy, China tried  to close its doors and restrict the influence of globalisation (Street, 2000 and Chow 2004 and 2005a). This was not the first time that China was forced to confront and implement a national strategy to either embrace or combat the effects of globalisation. In fact, as recently as the 1990s, China was confronted by this conundrum, namely: whether to continue its global economic expansion in the face of the Asian financial crisis or to once again close it doors and retreat inwards to protect itself from the economic fallout of a struggling region (Fishman, 2005 and Nolan, 2001). However, by carefully weighing the advantages and disadvantages of economic openness the Chinese government decided to open up the Chinese economy even more, and eventually joined the World Trade Organization by implementing large economic reforms (Bijian, 2005). There is no doubting that these economic reforms and Chinas embracement of globalisation has brought stunning results. Since starting to open up and reform its economy in 1978, China has averaged 9.4 percent annual GDP growth, one of the highest growth rates in the world (Bijian, 2005: 3). One of the reasons for the huge leaps in growth has come from direct foreign investment that has been facilitated by Chinas admission to the WTO. For example, in the space of a few days in 2004, a North Korean Steel Company launched a $500 million steel project in the Dalian development zone; Frances St Gobain invested $70 million in one of its existing glass production lines in China; Germanys Siemens opened its fortieth office in China for development of software; and Finlands Stora Enso invested $1.6 billion in a paper pulp project in Guandong Province (Hall et al, 2004). Such results have seen China become the third largest trading country in the world and the envy of many developing economies around the world (Chow, 2005b). While such economic statistics are regularly celebrated by the Chinese government as a success of Chinas inclusion into the WTO, many in China are in fact lamenting the negative effects of globalisation and the scrutiny that WTO membership has brought. In fact WTO membership came at a very high price for the domestic Chinese economy (Overholt, 2005). Throughout the 80s  and 90s China initiated structural changes such as the phasing out of direct subsidies for exports and began cutting tariffs in preparation for inclusion into the WTO (Pearson, 2001). Over the three years from 1994 to 1997, the countrys average tariff rate was lowered from about 43 to 17 per cent and at the time of Chinas entry into the WTO in late 2001, the overall average was just 15 per cent. Such drastic economic changes were at the behest of the WTO and the result being that a lot of factories and domestic industries have gone bankrupt because many people prefer foreign products which have become cheaper as a r esult of Chinas inclusion into WTO (Solinger, 2005). Furthermore, Moore (2002) also argues that Chinas accession into the World Trade Organization could be viewed as more beneficial to the rest of the world rather than China itself. WTO commitments made by China do not in any way protect Chinas domestic producers and therefore the argument that that the greatest benefit of Chinas WTO membership is enjoyed by foreign companies is indeed a valid one (Moore, 2002: 311). Yang (2004: 307) argues that admission into the WTO was in fact too big of a restructure step for China and continues by noting that Chinese involvement in the WTO is great for foreign companies and bad for local ones because one of the first laws enacted to ensure WTO membership was designed to attract and protect investment from overseas. It is clear that this lack of protectionism, although beneficial to the outside world, has been disrupted the income to domestic businesses. Of particular note is the fact that with Chinas WTO membership foreign investors have been allowed access to markets that were previously restricted or highly regulated (Samuelson, 2004 and Pearson, 2001). These incursions have been most evident in the insurance, telecommunications, and financial industries (Prasad, 2004). Such competition is however of great benefit to the domestic Chinese consumer. In fact, fifteen years ago China barely had any mobile telecommunication services, whereas now it claims more than 300 million mobile phone subscribers, more than any other nation (Bijian, 2005). Whether this is a result of modernisation or globalisation is highly debatable, but it is clear that Chinese consumers are embracing the increase in products and services provided by many foreign companies. Other than the local businesses being hurt by foreign investments and industries, the labour market in China is also suffering from major unemployment as a result of the forces of globalisation (Chow, 2004). While entry into the WTO has in itself not created joblessness, it has however heightened a number of trends that were already underway, including accelerating the rate of insolvency of state owned enterprises. The result being the discharge of tens of millions of workers who, when they were younger, were once assured of employment by the socialist state (Economy, 1998 and Chow 2004 and 2005b). According to Prasad (2004: 6) the unemployment problem is in fact likely to worsen over the next few years due to restructuring in the rural and state enterprise sectors, the very type of restructuring that has been mandated upon China by the World Trade Organisation. Another cause of the unemployment problem currently facing the Chinese economy is its shift away from sunset industries such as manufacturing, mining and construction to newer industries that demand workers with specialised skills (Prasad, 2004; Solinger 2005 and Yang 2004). Similar changes are evident in Chinas effort to upgrade its technology industry, which has not only involved the replacement of much unskilled labour but in many cases also reduces the need to employ as many skilled blue-collar workers (Nolan, 2001 and Economy, 1998). While this can not be directly liked to WTO membership it is clear that the forces of globalisation are having a major impact on the Chinese economy, the products it produces and its labour force. The amazing growth in Chinas economy as a result of its increased participation and integration in a global economy is also having social and political consequences. Most notable a growing divide between Chinas rich and poor. Obviously China would not have self imposed such drastic economic changes purely to encourage direct foreign investment to the detriment of domestic businesses, but it is clear the benefits of the global marketplace are not being shared around Chinas 1.3 billion people (Solinger, 2005 and Chow, 2004). It is very much the case in China that the rich are getting  richer and the poor are just getting left behind. This is also evident in the growing regional inequalities in China. Despite the governments attempts to rectify the situation, foreign investment has continued to flow to those provinces where education levels are the highest, infrastructure most well developed and political power most concentrated (Overholt, 2005 and Economy, 1998). Moreover, while the wealthier provinces in theory pay taxes to the centre to compensate the poorer provinces, in practice this system has failed allowing corruption to flourish, resulting in power becoming de-centralised from Beijing to local authorities. Not surprisingly such inequality has contributed to serious political tension between the haves and have nots (Bijian 2005 and Economy 1998). Overholt (2005: 7) however argues that despite the growing divide between the rich and poor, the Chinese overwhelmingly support further globalisation. Overholt (2005: 7) asserts that no large country in human history has ever experienced such rapid improvements in living standards and working conditions as China has in its acceptance of adjustments to accommodate the forces of globalisation. So while the economic dividends of Chinas rapid growth are not being shared equally around the country, the majority are nonetheless better off. One of the reasons for such widespread approval of the modernisation of the economy has been the upgrading of technology, especially telecommunications which has been an essential aspect of the Chinese governments plans for continued economic growth (Chow, 2004 and 2005a and Econommy, 1998). Normally if there is general contentment among the population then this would provide little in the way of difficulties for those in power. Fred Tipson (1998: 12) however, notes a difficult conundrum for the Chinese government in their embracement of economic globalisation. The Chinese leadership has repeatedly emphasized the central role of telecommunications and information technologies in building its modern economy†¦..on the one hand, actively promoting a modern communications infrastructure, while on the other hand, repeatedly trying to control the content and uses of the information that pulses through it. Tipson (1998) concludes that the  communications revolution will diminish the need or inclination of most Chinese to defer to central authority or accept routinely the governments characterization of reality.The Chinese government is more than aware of the threat to its power that the technological revolution and global scrutiny presents. Given the current uprisings and discontent in Tibet the government has blocked access to many websites to control the flow of information to not only its own people, but the international community (Maunder, 2008). So while the forces of globalisation may have brought prosperity to China, the Chinese government also has to work overtime to maintain its grip on power. When evaluating the impact that globalisation has had on China it is important not to lose sight of the big picture. Economic growth alone does not provide a full picture of a countrys development and despite Chinas population of 1.3 billion, its Chinas economy is still just one-seventh the size of the United States (Bijian, 2005). However, the open-door policy that was first advanced by Deng Xiaoping in the late 1970s has been of great success in modernising China. It is true that such rapid growth has presented China with some problems, including the demise of some domestic industries, unemployment and minor political instability, however given its current path it appears that Chinas rise to superpower status is inevitable. BIBLIOGRAPHY Alford, William (1999) Does the rule of law really rule? paper presented before the Conference on Policy Reform in China, Center for Research in Economic Development and Policy Research, Standford University, November 18-20, 1999 (Online) Available from: http://www.cdy.sagepub.com/cgi/reprint/11/3/287.pdf [Accessed 10th March 2008]Allen, Franklin. Jun Qian and Meijun Qian (2006), Chinas Financial Reform: Past, Present and Future in Loren Brandt and Thomas Rawski, ed. Chinas Economic Transition: Origins, Mechanism, and Consequences. University of Pennsylvania, Wharton School: MimeoBijian, Zheng (2005) Chinas Peaceful Rise to Great-Power Status Foreign Affairs September/October 2005Chow, Gregory (2002) Chinas Economic Transformation Oxford: Blackwell Publishing CompanyChow, Gregory (2004) Knowing China Singapore: World Scientific Publishing CompanyChow, Gregory (2005a) Corruption and Economic Reform in the Early 21st Century Princeton University, California: MimeoChow, Greogry and Yan, Shen (2005b) Demand for Education in China Princeton University, California: MimeoEconomy, Elizabeth (1998) China Confronts the Challenge of Globalization New York: Rockefeller Brothers Fund, IncFishman, Ted (2005) How the rise of the next super power challenges America and the world New York, N.Y.: ScribnerHall, D., Jones, R., and Raffo, C. (2004) Business Studies 3rd Edition, Lancashire: Causeway Press LtdImerfall, Stefan (2006) Territoriality in the Globalizing Society: One Place or None? (Online) Available from: http://www.amazon.com/Territoriality-Globalizing-Society-European-Transatlantic/dp/3540643222 [Accessed 9th March 2008]Maunder, Patricia (2008) The Great Firewall of China The Age, March 20, 2008 (Online) Available from: http://www.theage.com.au/news/web/the-great-firewall-of-china/2008/03/18/1205602389513.html? [Accessed 21st March 2008]Moore, Thomas (20 02) China in the World Market New York, NY: Cambridge University PressNolan, Peter (2001) China and the Global Economy: National Champions, Industrial Policy and the Big Business Revolution New York, N.Y: PalgraveOverholt, W (2005) China and Globalization Testimony before the U.S.-China Economic and Security Review Commission, May 19, 2005. Santa Monica, California: Rand CorporationPearson, Margaret (2001) The Case of Chinas Accession to the GATT/WTO, in David M. Lampton (ed.), The Making of Chinese Foreign and Security Policy in the Era of Reform, 1978-2000 Stanford: Stanford University PressPrasad, Eswar (2004) Chinas Growth and Integration into the World Economy: Prospects and Challenges International Monetary Fund Publications, June 17, 2004. Samuelson, Paul (2004) Where Ricardo and Mill Rebut and Confirm Arguments of Mainstream Economists Supporting Globalization Economic Perspectives, 18: 3 Summer, 2004Solinger, Dorothy (2005) Chinese Urban Jobs and the WTO The China Journal, May 2005Street, N., Lynch, M and Marilyn, J (2000) American Business in China: Balancing Culture and Communication (Online) Available from: http://www.cald.org/website/polparties_asia.htm [Accessed 5th March 2008]Tipson, Fred (1998) China and the Information Revolution China Joins the World: progress and Prospects New York: Council for Foreign Relations PressYang, Dali (2003) Remaking the Chinese Leviathan Stanford,

physics lab :: essays research papers

Archimedes’s Principle 1. Weight = mass x 9.80 g/cm^3 W= 45g x 9.80 N W= 44,100 dynes 2. Buoyant force (calculated) = weight in air – weight in water BF = 44,100 dynes – 38710 dynes BF = 5390 dynes 3. Volume of Water = radius^2 x length V= (.63cm) (4.65cm) V= 5.80 cm 4. Buoyant force (measured) = mass in air/ density BF= (44,100 g) / (7.76 g/cm^3) BF= 5684 cm^3 5. % difference = BF calculated – BF measured/ BF measured % difference = 5390 – 5684 / 5684 % difference = 5.4 % 6. Density = Mass / Volume Density = 45 g / 5.80 cm^3 Density = 7.76 g/cm^3 7. Volume of wood = length x width x height V = (7.62cm) (7.63cm) (3.86 cm) V = 224. 42 cm^3 Questions 2.) Because an overweight person displaces more fluid when stepping into a pool. By displacing more fluid, the person creates a greater buoyant force making it easier for him to swim. 5.c) By placing a battery into the water with a floating rod into its deep cylindrical cavity it is quite easy to determine the condition of the battery. The diluted battery will have a much higher density than that of a highly charged battery. From the observation of how the battery floats you can tell its condition. 8.) We were able to find the volume of displace water in Part II quite easily. First we placed a large tupperware container on the table and in it a smaller container filled to the top with water. When the block of wood was placed in the container, water fell out of the smaller container into the larger container. By placing the water which fell out of the smaller container into a cylinder, you are able to measure the volume of displaced water. 9.) No I did not use Archimedes’s principal to find the densities. I used the density formula of dividing the mass by the volume. We find the densities and compare them to the densities of water to help understand the mechanics of buoyant force. Discussion   Ã‚  Ã‚  Ã‚  Ã‚  In part two of the lab dealing with Archimedes’s principle, we were comparing the buoyant force of a block of wood to its weight in dynes. The first step of the operation dealt with measuring the quantity of displaced water. We did this using two containers, one small and one large, and filled the small container to the brim with water. By placing the block of wood in the small container and using a graduated cylinder, we were able to find the amount of water displaced by the block.

First law of motion Essay

I have come to a point in life that many people have not. I have made a firm decision to recommit myself to pursuing my dreams. While there are those who believe that with an ounce of luck and a ton of persistence anything can be accomplished, I believe that there is no reason to expend so much energy and rely on luck. I believe in taking hold of my destiny and carving out a future for myself based on the decisions that I make in life. Life is simply too short and too precious to be left to luck alone. This is why I have chosen to apply at (Selected University Here). An object at rest tends to stay at rest and an object in motion tends to stay in motion with the same speed and in the same direction unless acted upon by an unbalanced force. This is how the first law of Newton is often stated. An object remains at rest unless an external influence interacts with it and either gets it moving again or alters its direction. I prefer to think of myself as one of those objects that are at rest. There has never really been any motivation or desire on my part to try and do something drastic in my life. The problems of other people do not concern me unless there is some sort of benefit that I can gain through my actions or disadvantage that will happen through my inaction. This has always been my way of dealing with things when I was much younger and admittedly more selfish and naive. As every story concerning a spoiled child goes, I always felt that I was the center of everyone’s attention. I was the most important thing in this world. There was no need for me to raise a finger to do anything as everyone around me was at my beck and call, servants who catered to my every whim and desire. These thoughts of greatness and power however were also the same thoughts that made it very difficult for me to adapt to my school environment as I constantly found myself alone in school with no friends and nobody to talk to. Things took a turn for the worse before they got any better however as I was also performing terribly in school. I would get into scuffles with my classmates and get on the bad side of everyone in my school. These were very difficult times for me because I could not understand why these people had such an intense dislike for me. The worst part was yet to come however. One day when I was one my way to my classroom I saw a couple of my classmates breaking into the lockers of a few of the students. Unsure of what I was supposed to do I decided to watch them. A few moments later a young kid, much smaller and younger than me, told these bigger kids to stop what they were doing because it was bad. These bullies merely laughed at the kid and decided to have some fun with him and push him around. Forgetting how much bigger they were than the young child, they became too rough and pushed the child so hard that he rolled down the stairwell. Instead of helping the young kid out I decided to make a run for it and not say anything to anyone. It wasn’t my problem, I recall telling myself. Indeed it wasn’t but soon enough it became a problem of mine when I learned a week later that the young boy who I refused to defend would never be able to walk again. My inaction, my selfishness was the reason that a young boy would never be able to walk again. I could not live with myself. It was then that I decided to approach my mother and ask her why things were that way. Like every mother, my mom adored me and always had my best interests in her heart. But I was surprised when she told me the truth; I was selfish, arrogant and self centered. A person destined for greatness must learn to be humble and must also learn to stand up in the face of adversity. She then told me a story a great person, a person she admired, former President Ronald Reagan. While not exactly the most intelligent of all people, Ronald Reagan endured many trials in his life and was able to weather them all thus earning himself the nickname â€Å"The Teflon President†. Not only was Ronald Reagan able to endure all of his challenges, he was also well loved by many, which is largely attributed to his persuasive quotable speaking style. The Great Communicator was able to charm the hearts of many and in doing so became one of the most effective Presidents in the history of the United States. After that talk, I decided to learn more about this person who my mother thought so highly of and found that he had done so many things during his administration. I could not understand how a person who wielded such power never chose to abuse it but instead chose to use the power to help other people and improve the welfare of every American; Powerful and influential but at the same time well-loved by the American public. From that forth I resolved to discard my selfish and self-centered ways and decided to focus more on helping other people and becoming more altruistic in my deeds. While I certainly will not become the next Ronald Reagan, I have him to thank for motivating me to become a better person not only for myself but for others as well. He has inspired me to lead a life of service for the public and fueled my passion for politics. I may not be able to accomplish the things that this great person has done in his lifetime but I will be happy knowing that I have made a difference in this world. To have even inspired a single person to do good things and to devote his life to a life of service for others as Ronald Reagan has done for me will be a great accomplishment. While I personally believe that â€Å"there is no such thing as a free lunch† and that everything a person has in life must come from hard work and perseverance, I also believe in charity. I believe in helping others who do not have much in life. I believe in helping people regardless of their nation, race or creed. I believe in being a better person so I can best help myself and others around me. I believe that (Selected University) is the best place for me to turn these beliefs into realities.

Fashion and Reflexive Advertising Essay example - 3369 Words

Ads are ubiquitous. Contemporary media-literate audiences know that one-third of a half-hour sitcom will be commercials, that magazines will contain more ads than articles, and that they will be bombarded with advertisements on the internet. The pervasiveness of ads has created spectators who are: increasingly media-literate, cynical, and alienated...and because the number of ads continues to increase (clutter), advertising has undermined its own effectiveness by unintentionally negating the ability and the desire of viewers to respond (Goldman and Papson, 83). Advertisers have appropriated this post-modern discourse of alienation, giving it a sign value that they can attach to their product. Alienation consequently becomes a means†¦show more content†¦Although the purely denotative image does not exist, it is a useful concept in illuminating complex signs. The non-coded iconic message is apparently innocent of connotation. It is what would exist if one were able to remove everything from an ad except for ones knowledge that the image represents identifiable objects. More importantly, these signified objects function as signifiers in the more latent message of the advertisement (Williamson, 43). A description of an advertisements denoted message thus involves the cataloguing of its signifiers. These signifiers have no meaning in themselves; they rely on ones lexicon of cultural knowledge in order to gain meaning or connotative significance. The linguistic message has two central functions in relation to the image: anchorage and relay (Barthes, 11). Anchoring text stabilizes the multiple meanings, or signifieds, that one might find in any image. Relaying text connects the image to another sign or series of signs. The coded iconic message, or the rhetoric of the image of the ad involves understanding the connotations, or signifieds, of the signifiers in the image. It is essential to understand that signifiers constitute discontinuous or...scattered traits: reading the signifiers does not exhaust a cultural code (Barthes, 17). The images in advertisements are polysemous in that they yield multiple meanings. The reader is engaged in a process of signification with an ad - and th us with the product it promotes -Show MoreRelatedCreating Meaning and Identity through Consumption Essay1307 Words   |  6 Pagessaid, fashion is an important element of identity formation. Young people are commonly feared of being seen as outdated and seek for acceptance from the peers and the society. According to Erikson’s theory of personal social and personal development adolescences and young adults see peers as a critical influence, acceptance of peers can lead to security of identity and self-esteem. This essay is going to examine how young people shape or form their identities through the consumption of fashion. 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This essay discusses how advertisement effects peoples lives

As Americans we are exposed to advertisements everyday. People are pressured from every direction by advertisements which exploit their deepest fears, attractions, needs, and desires, shaping their behaviors, goals, and thoughts. They are led into believing false information and promises that are mostly never kept, all for the simple reason of selling the product and making profit. We see advertisements everywhere--in magazines and newspapers, on the radio, on TV, online, in the mail, even over the phone. These advertisements use the basic ideas of either providing an elite status with the possession of the product, or giving a sense of belonging to a group or community. Since the recent military activity in Iraq and Afghanistan, another†¦show more content†¦The whole patriotic theme is strange because the connection between patriotism and the product does not make the product function better, so why do we feel obligated to pay attention to the advertisement and even purchas e that product. Along with patriotism another concept used widely is the elitism the product brings to people with its possession. As Jack Solomon wrote in his essay Masters of Desire, We Americans dream of rising about the crowd, of attaining a social summit beyond the reach of ordinary citizens (1). He is basically saying that Americans want to be better then the people around them and this belief is what marketers feast on, creating status symbols like Rolex, Mercedes, BMW, etc. One advertisement that crosses my mind in terms of using elitism would be the new U2 iPod Special Edition advertisement. This promotes an iPod with a black cover and laser engraved signatures of the U2 band members; everything else is similar to a regular iPod; whereas, the price is $50 more. People are led into believing that the U2 iPod is better than the regular one only because it is endorsed by U2. Another ironic detail is that a normal iPod itself is a product of elitism, because even though it has similar functions to a Sony or any other MP3 player, it costs $100 more only because it comes with the signature white headphones. These headphones, unique only because an iPod come equipped with them, have made themselves and the iPod a status symbol. MostShow MoreRelatedThe Case of Sterotyping in Society1219 Words   |  5 Pageseconomics for thirty years. He writes an essay discussing the case of stereotype. He reminds us that stereotyping affects many spaces of our lives and it influences the way we look at people and categorize them due to their tone, nationality or language. 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