Economy

An economy (Greek οίκος-household and νέμoμαι - manage) is an area of the production, distribution or trade, and consumption of goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.

Economic activity is spurred by production which uses natural resources, labor, and capital. It has changed over time due to technology (automation, accelerator of process, reduction of cost functions), innovation (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions) such as that which produces intellectual property and changes in industrial relations (child labor being replaced with universal access to education).

A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

Economic collapse

There is no precise definition of an economic collapse. The term has been used to describe a broad range of bad economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death rate and perhaps even a decline in population (such as in countries of the former USSR in the 1990s).

Often economic collapse is accompanied by social chaos, civil unrest and sometimes a breakdown of law and order.

An example of an economic collapse is the Great Depression.

Cases of economic collapse

There are few well documented cases of economic collapse. One of the best documented cases of collapse or near collapse is the Great Depression, the causes of which are still being debated.

Bernanke's comment addresses the difficulty of identifying specific causes when many factors may each have contributed to various extents.

Turn on the Bright Lights

Turn On the Bright Lights is the debut studio album by the American rock band Interpol, released in August 2002. The album was recorded in November 2001 at Tarquin Studios in Connecticut, and was co-produced, mixed and engineered by Peter Katis and Gareth Jones. It was released on August 19, 2002 in the United Kingdom and August 20 in the United States, through independent record label Matador Records. Upon release, the record peaked at number 101 on the UK Albums Chart. It reached number 158 on the Billboard 200 in the United States, as well as spending 73 weeks in the Billboard Independent Albums, peaking at number five.

"PDA", "NYC", "Obstacle 1" and "Say Hello to the Angels" were the singles from Turn On the Bright Lights, and a video was shot for each with the exception of "Say Hello to the Angels".

The album was certified Gold by the RIAA on August 29, 2011 for shipments of 500,000 copies.

A remastered version of the album was released in 2012 to commemorate its tenth anniversary. It featured additional material including demo recordings of several tracks, the bonus songs previously available on international releases and a DVD of live performances and music videos.

Free music

Free music or libre music is music that, like free software, can freely be copied, distributed and modified for any purpose. Thus free music is either in the public domain or licensed under a free license by the artist or copyright holder themselves, often as a method of promotion. It does not mean that there should be no fee involved. The word free refers to freedom (as in free software), not to price.

The Free Music Philosophy generally encourages creators to free music using whatever language or methods they wish. A Free Music Public License (FMPL) is available for those who prefer a formal approach. Some free music is licensed under licenses that are intended for software (like the GPL) or other writings (the GFDL). But there are also licenses especially for music and other works of art, such as EFF's Open Audio License, LinuxTag's Open Music License, the Free Art license and some of the Creative Commons Licences.

History

Before the advent of copyright law in the early 18th century and its subsequent application to music compositions first, all music was "free" according to the definitions used in free software or free music, since there were no copyright restrictions. In practice however, music reproduction was generally restricted to live performances and the legalities of playing other people's music was unclear in most jurisdictions. Copyright laws changed this gradually so much so that in the late 20th century, copying a few words of a musical composition or a few seconds of a sound recording, the two forms of music copyright, could be considered criminal infringement.

The Federal Kuala Lumpur

The Federal Kuala Lumpur is an international-class hotel located on Kuala Lumpur's Bukit Bintang district. It hosts post-independence Malaya's first revolving restaurant.

History

The Federal Kuala Lumpur is the first international-class hotel of post-independence Malaya. It was built to coincide with Malaya's Independence commemoration to serve as a hotel for witnessing foreign dignitaries. It opened for business just three days before Malaya's Independence Day which falls on 31 August 1957. It was founded by Tan Sri Datuk Low Yat. The architect of the original nine-story building was Yoon Thim Lee. The taller wing housing the revolving restaurant was built in the early 1960s.

See also

References

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