The Theory Of Crime Causation - 871 Words

One of the important goals to criminology is to create valid and accurate theories of crime causation. A theory could be defined as a statement that explains why a certain circumstance does not happen. A valid theory should always have the ability to predict future occurrences of the circumstance in question and also have the ability to be tested (Siegel, 2013). Even though there was talk on the code of law and how crime should be handled from years ago, according to Siegel, the science of criminology is somewhat new. Back then; people believed that individuals who did not fit in with the society would automatically be labeled as witches or someone who was possessed by something that was not human. Cesare Beccaria was one of the first to theorize that crime is a product of a person’s choice and can be controlled using methods of deterrence. Since then, criminologists have expanded on the idea and have developed new ways as to why people commit crime; all including theories suc h as biological, psychological, and sociological causes for crime (Siegel, 2013). Biological theories of crime made the assumptions that physical traits can lead an individual to criminal activities. Biological theories of crime causation were initially based on the assumption that delinquency is inherited. Physical attributes were known to pass down from parent to child. Over the time, the biological theories tended to emphasize more on the fact that offenders have different reasons to explain whyShow MoreRelatedThe Theories Of Crime Causation Essay1414 Words   |  6 Pages Theories of Crime Causation Dolores Jackson Williams Colorado Technical University Juvenile offender 1. Biological theory states that the individual will have certain traits will be transmitted from parent to children through genetics and not from social learning. Along with the juvenile having similar facial characteristics, which some believe also predisposes them to criminal behavior (Palmerin, 2012). 2. Rational choice theory states that the person will make sensible and reasonableRead MoreThe Theory Of Crime Causation Theory1648 Words   |  7 PagesIntroduction Within this document, we will examine Social Bonding theory. We will define what that theory is, then explain why crimes occurs and the reason why crime causation theory is currently relevant and effective. Since this is important to the public safety organization, we hope that when the document is complete, we will have a better understanding of crime causation and if there are additional ways to identify how it may be applied to circumstances on and off the job. But, we also need toRead MoreThe Theories Of Crime Causation1076 Words   |  5 Pages This paper will examine the three main theories of crime causation which comprise the Criminological Theory as well as provide some examples of each. The three main theories of crime causation are biological, sociological and psychological. Each of the three theories have come a long way since their inception and continue to be updated due to new findings through technological and medical advances. It also must be noted that these ar e theories and due to various factors and drawbacks to eachRead MoreThe Biological Theory Of Crime Causation1082 Words   |  5 PagesCrime causation is a complex and daunting field. For centuries, philosophers have pondered the meaning of the concept of cause as it pertains to human behavior. Examining why people commit crime is very important in the ongoing debate of how crime should be handled and prevented. A few of the theories that have emerged and continue to be explored are biological, sociological and psychological theories. While individually and in combination, these theories of crime causation affect human behaviorRead More†Emile Durkheim’s Theory of Crime and Crime Causation†2146 Words   |  9 PagesLaw Criminology and Penology (Law 214) Lecturer: Mr. James MAMBOLEO Topic:†Emile Durkheim’s Theory of Crime and Crime Causation† Dan KASHIRONGE _ 13j01allb043 Abstract The concept of â€Å"crime† has over the ages been subject to various definitions as the society tries to address it. Criminology is thus the study of crime and crime causation. It concerns itself with understanding the deep essence of crime as an act or omission, and all the reasons behind its occurrence. In this pursuit, criminologyRead MoreTheories of Crime Causation Essay example1589 Words   |  7 PagesMajor Theories of Crime Causation Robert Lincoln CJ 102-02 Kaplan University August 4, 2013 Major Theories of Crime Causation Various units contain a number of theories that try to explain the causes of crime in the society. The theories have been developed to have an in-depth understanding of the crime and how best they can be addressed to ensure that humans live in a conducive environment. These units and theories have been around and in use from as early as the twentieth century. OverRead MoreEssay on Theories of Causation of Crime and Its Solution 1250 Words   |  5 Pageshistory of criminal theory, spiritual and natural theories are taken as major theories of causation of crime. During medieval period, spiritual explanations were taken as punishment given by god for doing wrong things and any natural disasters like flood, fires, etc were evaluated as curse of high power. In modern period, the basic theories of causation of crime are classical theory, biological theory, psychological theory, cultural theory and conflict theory. The classical theory explains that freeRead MoreSociological and Psy chological Theories of Crime Causation1978 Words   |  8 PagesSociological and Psychological Theories of Crime Causation The aim of this essay is to compare, contrast and evaluate two sociological theories of crime causation and two psychological theories of crime causation. Sociological Theories of crime, Labelling and Structural Functionalism/ Strain. Howard Becker is a sociologist that is often credited with the development of the labelling theory. However the origins of this theory can be traced back to sociologists at the beginning of the twentieth centuryRead MoreTheories of Crime Causation: Trait Theory and Rational Choice Theory1377 Words   |  5 Pagesï » ¿Theories of Crime Causation: Trait Theory and Rational Choice Theory Introduction Theories of crime causation get to the fundamental characteristics of human nature. Theories of crime causation can be separated into trait theories and choice theories. Both types of theories make valid points about the causes of crime, yet they are have different implications for preventing the causes of crime. Thesis: Trait theories and choice theories both assume that humans are self-interested, but their conceptionsRead MoreRational Choice Theory: Criminology901 Words   |  4 PagesChoice theory was born out of the perspective of crime causation which states that criminality is the result of conscious choice. This theory is also known as the rational choice theory. According to this theory, the choice whether or not to commit a criminal act is the result of a rational thought process that weighs the risks of paying the costs of committing a crime, against the benefits obtained. In other words, if the benefits--monetary or otherwise--outweigh the risks of sustaining the costs

Native American Musical Instruments And Music - 980 Words

Native American Musical Instruments are about natives getting together and playing there instruments. They play them on holidays and birthdays, also they play whenever they want entertainment. It’s a tradition for them. Their instruments are not metal like ours, so it doesn t sound like ours either. Their instruments have a whole different tune and sound. Native Americans love to play their instruments. Its one of their favorite things to do. I am writing about Native American musical instruments because music is a big part of there s and our lives. Music is a big part of our lives, we had music for years. This bond has formed from when they made the instruments, and then they played them. They showed other people and they liked it. So†¦show more content†¦The genres that were played by the Native Americans were characteristics of music and how they were produced. Genres change because some people are from different cultures. Regional category a description of the mu sic encompasses vocal rhythm beat. They didn’t have have music sheets like Americans do. They played with there heart and what they felt like. They had/ have meaning to their songs/ music. A Native American instrument can be defined as any device created for the use of making music by native nation or tribe while some instruments were more traditional than others indigenous people would play the instruments. Their music, especially their singing is the iconic perception of Native music in popular culture. It doesn t say when they played them so i m going to guess they usually played them on holidays and birthdays. They probably played them for entertainment. Men and women would sing separately. There s no certain age, you have to play an instrument They would play for an hour for a lesson plus two or three periods for the activity. You have to practice a couple weeks or even months to make by a specially trained craftsman. Your usually younger when you start. Because the younger you start the better you sound when you re older. You just have to practice when you re not busy or every night. They usually played every day because that s what they re supposed to do, so they can get better. Natives are very caring aboutShow MoreRelatedNative American Instruments Essay879 Words   |  4 PagesNative American Musical Intruments are about natives getting together and playing there instruments. They play them on holidays and birthdays, also they play whenever they want entertainment. It’s a tradition for them. There instruments are not metal like ours so it doesn t sound like ours either. There instruments have a whole different tune and sound. Native americans love to play there instruments. Its one of their favorite things to do. I am writing about Native american musical instrumentsRead MoreWorld Music: The Emotional Effect of Music Essays846 Words   |  4 Pagesthe communication that is experienced when listening to instrumental music. This will cover the intrapersonal and intercultural connection that the music communicates. The paper will discuss both of these points by focusing on 4 different cultures and show the differences in the music styles by showing what emotions the music is communicating by way of instrument, voice, tone and tempo. While many cultures use all forms of music to communicate their beliefs and emotion I could only pick a few toRea d MoreNative American Music Essay1034 Words   |  5 PagesNative American Music In chapter ten, author Bruno Nettle takes the reader to the town of Browning, Montana, where he is about to witness a modern Native American ceremony. As he observes, he notices that only one-half of the people there are actual Native Americans. The rest are are white tourists and innocent observers just like himself. Eventually, somewhere around eighteen singing groups appear from different tribes and reservations. They will be summoning the dancers into what isRead MoreThe Jazz : A Music Genre1078 Words   |  5 PagesEndara Research Paper Jazz The Jazz is a music genre that was developed from the traditions of West Africa, Europe and North America. It arises specifically in New Orleans, Louisiana, home of musical style, where was a large consignments of slaves, mainly western Africa. That is why the jazz comes from the combination of three traditions: the native American, African and European. The African-American community in South America developed its musical expression through creative improvisation onRead MoreMusic Of Native American Culture879 Words   |  4 Pages Music is big part of Native American Culture. It is used in many different ways, such as expressing one’s feelings or through the use of self-expression. There are unique collection of instruments that are played in ceremonial events, recreation, and even through healing. Some of these instruments are drums, flutes, rattles, and other percussion instruments. The voice is also used quite a lot and may even be the most important one because it is the backbone of music made in Native American CulturesRead More Native American Music Essay490 Words   |  2 Pages Native American music has many different musical styles. Within every Native American tribe there is a variety of musical styles and instruments. In response to the research that I have conducted, there are three main musical styles that are going to be my point of focus. The Sioux Grass Dance, the Zuni Lullaby, and the Iroquois Quiver Dance are the principal methods which contribute to Native American music. nbsp;nbsp;nbsp;nbsp;nbsp; The Sioux Grass Dance is considered to be the most popularRead MoreHawaiis Musical Culture And History1712 Words   |  7 PagesWhile researching the country of Hawaii’s musical culture and history I was able to find some very interesting things that are present in modern Hawaii. From the causes of musical oppression, fight for independence and revival of Hawaiian culture I will talk about how all of these contributed to the current culture of Hawaiian drum dance. First I will talk about the history and culture of the Hawaiian natives and how this has had its effect on Hawaiian music. In 1778, the first European to come toRead MoreFive Propositions for Exploring World Music Essay1727 Words   |  7 PagesMusic 407 Chapter 1: What is world music? A Point of Departure: Five Propositions for Exploring World Music 1. The basic property of all music is SOUND * Tone – the duration (length), frequency (pitch), amplitude (loudness), timbre (quality of sound). * All sounds have the potential to be tones 2. The sounds (and silences) that comprise a musical work organized in some way * Music is a form of organized sound * Listening: CD 1:1 (Beethoven’s Symphony #9) CD 1:2 (JapaneseRead MoreJazz And Jazz Culture1273 Words   |  6 PagesWhat is culture? What is African culture? What is Jazz music and where did it come from? How can one culture, in a sense, impact the musical landscape of the whole Western world and eventually assimilate into ‘pop’ culture? If we want to truly understand jazz and it’s concepts, we have to navigate through history and explore it’s roots. Simply put, jazz is African American music, and the genre, as we know, formed in New Orleans. However, the origins of jazz started well before then, in Africa. TheRead MoreNative Peoples: Learning About The Extensive Native American Culture691 Words   |  3 PagesNative Peoples Magazine, which was published in the year 1987, is an American Indian magazine that is distributed bi-monthly with the cost of $19.95 for 6 issues or $36.00 for 12 issues. The goal of this magazine is to reach out to people all around the world. Native Peoples Magazine portrays the arts and lifestyles, Native American artists, cooks, fashion designers, and their culture. The magazine can be used as a travel guide for many people. According to the Mailing List Finder of Native Peoples

The Monster Was Created By Victor Frankenstein - Free Essay Example

Sample details Pages: 3 Words: 769 Downloads: 6 Date added: 2019/04/12 Category Literature Essay Level High school Topics: Frankenstein Essay Did you like this example? Isolation is a dangerous act. Whether it is forced by the ones around us or a choice made by us to be alone isolation separates the victim from society damaging them emotionally. In Mary Shelleys Frankenstein, the monster, Frankensteins monster, comes to know the true act of isolation. Don’t waste time! Our writers will create an original "The Monster Was Created By Victor Frankenstein" essay for you Create order The monster was not only cast out by the townspeople but by his creator. Their prejudiced views of the monster as only that, a monster, turned him into what they truly sought him out to be. Through the theme of isolation, the story develops to show the reader the dangers of prejudice. The two themes go hand in hand, but isolation plays a more key role in the novel. The monster was not the only character to face this act but suffered from it the most. Isolation, the primary theme of the novel, shows how the effects of the monster being segregated by the only people he knew, as the reason for the creatures acts of destruction. The monster was created by Victor Frankenstein and with its creation, the monster was faced with rejection by its creator. Victor isolated himself with his studies, chosen isolation Victor Frankenstein loses connection from society and family, becoming obsessed with his research (Brown). He worked and worked trying to create his creature. Victor Frankenstein develops a feeling of solitude after obsessing over creating the monster and paranoia of the destruction from the monster. In consequence of the solitude Victor forces upon himself, he is left with no one. When the monster comes to life Victor turns away from his creation. Forcing the monster to face the same isolation victor brought upon himself, but the action of Victors abandonment of his creation had bigger consequences than the isolation Victor faced. Victor slaves over the idea of creating an animated creature and after months of work, he finally, finished his creation but when faced by what he created, he was horrified. Unable to endure the aspect of the being [he] has created, [he] rushed out of the room (47). Filled with prejudice based only on the looks of the monster, Victor abandons his creation. Isolating himself to create an animated being Victor abandons the monster so quickly despite the time he took to create it. Victor had no goals of creating the monster to have anything, but good intentions, but it was from the abandonment in the early moments of the monsters life which results in the change of the monsters intentions. Isolation [is] a vehicle for madness, which is the reason for the monster becoming the monster everyone saw. Casting him out from society, turning away when the monster showed no harm until the actions of the townspeople towards Frankensteins creation turned him into the monster they thought he was. Due to the isolation, the monster felt after his creation, the monster wanted to learn how to assimilate into the community to avoid isolation. The monster wandered through the town, attempting to find comfort from anyone but is instead, faced with rejection. The look of the monster made people turn away from him; prejudice took over anyone that met the monster based solely on the looks the monster was given. It was only when the monster met the blind doctor that he wasnt turned away before the monster could show the good intentions it has. Through this scene, prejudice was most apparent. Its the prejudice that the townspeople have for the monster that leads to the monsters isolation. It is only after the monster is secluded from a society that his intentions began to change. Victor Frankenstein didnt create the monster to be evil, but when society treats the monster with the attitude that he is that is what will reflect on the monster. The monster recognizes the outcast he is saying, I am alone and miserable, man will not associate with me, but one as deformed and horrible as myself would not deny himself to me (103). The monster did not want to be alone, he even tries to learn English to communicate with the villagers but with every attempt at communicating with society the monster is turned away violently. The true evil isnt the monster or Victor, its the isolation the monster was faced to endure. Through social isolation, madness broke out of the monster which leads to the actions of the monster. From the terrorization of seclusion, Frankensteins creation in return terrorized the village. The actions of the monster were not from evil intentions, but from the way the townspeople treated him. In the end, the monster became what everyone viewed him as, a monster.

My Leadership Style By Rear Admiral Grace Hopper - 779 Words

Reflect on the personal influences, including the values and morals, you believe are important to you and/or others when facing right versus right, and right versus wrong decisions as you lead and manage others. The term leadership invokes a deeper meaning than the simple Merriam-Webster dictionary definition as â€Å"the office or position of a leader† (Merriam-Webster, 2015). Candidates seeking management positions are frequently asked about their leadership styles during interviews. It is a derivative of the â€Å"what is the purpose of my leadership† question asked by William George discussed in his article, â€Å"Note on why leaders lose their way† (2004, p.2). My leadership style is best illustrated by the following quote by Rear Admiral Grace Hopper (US Navy, retired): â€Å"you manage things, you lead people. We went overboard on management and forgot about leadership† (Schieber, 1987). I have fashioned my leadership style based on that quote as I have worked for my fair share of good leaders as well as those that lost their way. The ones that hold true to their authentic leadership selves understood what it meant for them to a leader from what they required in their respective leaders. The same holds true for me. My values and morals as well as life experiences play a significant role in how I address right versus right and right versus wrong decisions. Moreover, my appreciation for the life experiences of those I am leading allows me to provide guidance and direction as they face

Ice cream Free Essays

City it is in between CSS San Carols and Saint Dominic Parish. You can contact Emil Rome C. Calcium on 09332965701 for more information visit us on quartermasters. We will write a custom essay sample on Ice cream or any similar topic only for you Order Now Gamma. Com 1. 2 We have chosen partnership as our business organization, in which two or more individuals manage to operate the business. For having six members in this business it is easier and less expensive for us to organize because there is mutual contribution by means of money and property. All assets contributed into the partnership are owned by the partnership. The profit and losses are equally divided. All partners are personally liable for all debts incurred by the partnership. Combines each partner’s special skills, expertise and experience for the business. 1. 3 Company Description: For the preparation the set-up employees will clean the store and the furniture. Inside the kitchen, an employee is assigned to clean and prepare the needed ingredients, kitchen equipment and utensils once everything is ready, employees are required to freshen-up and groom themselves for them to appear neat and presentable. For our closing, our employees are given 1 hour to clean the entire store and fix everything after the store hours. Our usual customers are children, students, teenagers, groups of friends who want to chill, professionals, and oldies who are young at heart. 1. 4 Top four Executive Personnel: Abate, Maria Salve L. Pagan, Jerkin C. Tulips, Aka Marie S. Sacramento, Nikkei Jane R. Qualification: Creativity and Innovation Develops new insights into situations; questions conventional approaches; encourages new ideas and innovations; designs and implements new or cutting edge programs/processes. External Awareness Understands and keeps up-to-date on local, national, and international policies and trends that affect the organization and shape stakeholders’ views; is aware of the organization’s impact on the external environment. Flexibility Is open to change and new information; rapidly adapts to new information, changing conditions, or unexpected obstacles. Resilience Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks. Strategic Thinking Formulates objectives and priorities, and implements plans consistent with the long- term interests of the organization in a global environment. Capitalizes on opportunities and manages risks. Vision Takes a long-term view and builds a shared vision with others; acts as a catalyst for organizational change. Influences others to translate vision into action. 1. 5 Start up Schedule: Name of Competitors: Ice Cream House 1. 6 Funds Needed How to cite Ice cream, Papers

Great Depression3 Essay Example For Students

Great Depression3 Essay The Great Depression was the worst economic slump ever in U.S. history, and one which touched virtually all of the industrialized world. The Depression began in late 1929 and lasted for nearly a decade. Many factors played a role in bringing about the Depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920s, and the extensive stock market speculation that took place during the latter part that same decade. The mal-distribution of wealth in the 1920s existed on many levels. Money was distributed disparately between the rich and the middle-class, between industry and agriculture within the United States, and between the U.S. and Europe. This imbalance of wealth created an unstable economy. The excessive speculation in the late 1920s kept the stock market artificially high, but eventually lead to large market crashes. These market crashes, combined with the maldistribution of wealth, caused the Am erican economy to capsize. The roaring twenties was an era when our country prospered tremendously. However, the rewards of the Coolidge Prosperity of the 1920s were not shared evenly among all Americans. According to a study done by the Brookings Institute, the top 0.1% of Americans had a combined income equal to the bottom 42% in 1929. That same top 0.1% of Americans in 1929 controlled 34% of all savings, while 80% of Americans had no savings at all. Automotive industry mogul Henry Ford provides a striking example of the unequal distribution of wealth between the rich and the middle-class. Henry Ford reported a personal income of $14 million in the same year that the average personal income was $750. By present day standards, where the average yearly income in the U.S. is around $18,500, Mr. Ford would be earning over $345 million a year! This maldistribution of income between the rich and the middle class grew throughout the 1920s. While the disposable income per capita rose 9% from 1920 to 1929, those with income within the top 1% enjoyed a stupendous 75% increase in per capita disposable income1. A major reason for this large and growing gap between the rich and the working-class people was the increased manufacturing output throughout this period. From 1923-1929 the average output per worker increased 32% in manufacturing. During that same period of time average wages for manufacturing jobs increased only 8%. Thus wages increased at a rate one fourth as fast as productivity increased. As production costs fell quickly, wages rose slowly, and prices remained constant, the bulk benefit of the increased productivity went into corporate profits. In fact, from 1923-1929 corporate profits rose 62% and dividends rose 65%2. The federal government also contributed to the growing gap between the rich and middle-class. Calvin Coolidges Republican administration (and the conservative-controlled government) favored business, and as a result the wealthy who invested in these businesses. An example of legislation to this purpose is the Revenue Act of 1926, signed by President Coolidge on February 26, 1926, which reduced federal income and inheritance taxes dramatically. Andrew Mellon, Coolidges Secretary of the Treasury, was the main force behind these and other tax cuts throughout the 1920s. Even the Supreme Court played a role in expanding the gap between the socioeconomic classes. In the 1923 case Adkins v. Childrens Hospital, the Supreme Court ruled minimum-wage legislation unconstitutional3. The large and growing disparity of wealth between the well-to-do and the middle-income citizens made the U.S. economy unstable. For an economy to function properly, total demand must equal total supply. In an economy with such diversified distribution of income it is not assured that demand will always equal supply. Essentially what happened in the 1920s was that there was an oversupply of goods. It was not that the surplus products of industrialized society were not wanted, but rather that those whose needs were not satisfied could not afford more, whereas the wealthy were satisfied by spending only a small portion of their income. Three quarters of the U.S. population would spend essentially all of their yearly incomes to purchase consumer goods such as food, clothes, radios, and cars. These were the poor and middle class: families with incomes around, or usually less than, $2,500 a year. The bottom three quarters of the population had an aggregate income of less than 45% of the co mbined national income; the top 25% of the population took in more than 55% of the national income4. While the wealthy also purchased consumer goods, a family earning $100,000 could not be expected to eat 40 times more than a family that only earned $2,500 a year, or buy 40 cars, 40 radios, or 40 houses. Through such a period of imbalance, the U.S. came to rely upon three things in order for the economy to remain on an even keel: credit sales, luxury spending, and investment from the rich. One obvious solution to the problem of the vast majority of the population not having enough money to satisfy all their needs was to let those who wanted goods buy products on credit. The concept of buying now and paying later caught on quickly. By the end of the 1920s, 60% of cars and 80% of radios were bought on installment credit. Between 1925 and 1929, the total amount of outstanding installment credit more than doubled from $1.38 billion to around $3 billion. Installment credit allowed one to telescope the future into the present, as the Presidents Committee on Social Trends noted5. This strategy created artificial demand for products which people could not ordinarily afford. It put off the day of reckoning, but it made the downfall worse when it came. By overlooking the future and living for the here and now, when the future arrived, there was little to buy that hadnt already been bought. In addition, people could no longer use their regular wages to purchase whatever items they didnt have yet, because so much of the wages went to paying back past purchases. The U.S. economy was also reliant upon luxury spending and investment from the rich to stay afloat during the 1920s. The significant problem with this reliance was that luxury spending and investment were based on the wealthys confidence in the U.S. economy. If conditions were to take a downturn (as they did with the market crashed in fall and winter 1929), this spending and investment would slow to a halt. While savings and investment are important for an economy to stay balanced, at excessive levels they are not good. Greater investment usually means greater productivity. However, since the rewards of the increased productivity were not being distributed equally, the problems of income distribution (and of overproduction) were only made worse. Lastly, the search for ever greater returns on investment lead to wide-spread market speculation. Maldistribution of wealth within our nation was not limited to only socioeconomic classes, but to entire industries. In 1929 a mere 200 corporations controlled approximately half of all corporate wealth. While the automotive industry was thriving in the 1920s, some industries, agriculture in particular, were declining steadily. In 1921, the same year that Ford Motor Company reported record assets of more than $345 million, farm prices plummeted, and the price of food fell nearly 72% due to a huge surplus. While the average per capita income in 1929 was $750 a year for all Americans, the average annual income for someone working in agriculture was only $2736. The prosperity of the 1920s was simply not shared among industries evenly. In fact, most of the industries that were prospering in the 1920s were in some way linked to the automotive industry or to the radio industry. Cars EssayMass speculation went on throughout the late 1920s. In 1929 alone, a record volume of 1,124,800,410 shares was traded on the New York Stock Exchange. From early 1928 to September 1929 the Dow Jones Industrial Average rose from 191 to 381. This sort of profit was irresistible to investors. Company earnings became of little interest; as long as stock prices continued to rise huge profits could be made. One such example is RCA Corporation, whose stock price leapt from 85 to 420 during 1928, even though it had not yet paid a single dividend15. Even these returns of over 100% were no measure of the possibility for investors of the time. Through the miracle of buying stocks on margin, one could buy stocks without the money to purchase them. Buying stocks on margin functioned much the same way as buying a car on credit. Using the example of RCA, a Mr. John Doe could buy 1 share of the company by putting up $10 of his own, and borrowing $75 from his broker. If he sold the stock a t $420 a year later he would have turned his original investment of just $10 into $341.25 ($420 minus the $75 and 5% interest owed to the broker). That makes a return of over 3400%! Investors craze over the proposition of profits like this drove the market to absurdly high levels. By mid 1929 the total of outstanding brokers loans was over $7 billion; in the next three months that number would reach $8.5 billion. Interest rates for brokers loans were reaching the sky, going as high as 20% in March 192916. The speculative boom in the stock market was based upon confidence. In the same way, the huge market crashes of 1929 were based on fear. Prices had been drifting downward since September 3, but generally people where optimistic. Speculators continued to flock to the market. Then, on Monday October 21 prices started to fall quickly. The volume was so great that the ticker fell behind. Investors became fearful. Knowing that prices were falling, but not by how much, they started selling quickly. This caused the collapse to happen faster. Prices stabilized a little on Tuesday and Wednesday, but then on Black Thursday, October 24, everything fell apart again. By this time most major investors had lost confidence in the market. Once enough investors had decided the boom was over, it was over. Partial recovery was achieved on Friday and Saturday when a group of leading bankers stepped in to try to stop the crash. But then on Monday the 28th prices started dropping again. By the end of the day the market had fallen 13%. The next day, October 29, 1929, or Black Tuesday as it has come to be known, an unprecedented 16.4 million shares changed hands. Stocks fell so drastically, that at many times during the day no buyers were available at any price17. This speculation and the resulting stock market crashes acted as a trigger to the already unstable U.S. economy. Due to the maldistribution of wealth, the economy of the 1920s was one very much dependent upon confidence. The market crashes undermined this confidence. The rich stopped spending on luxury items, and slowed investments. The middle-class and poor stopped buying things with installment credit for fear of loosing their jobs, and not being able to pay the interest. As a result industrial production fell by more than 9% between the market crashes in October and December 192918. As a result jobs were lost, and soon people starting defaulting on their interest payment. Radios and cars bought with installment credit had to be returned. All of the sudden warehouses were piling up with inventory. The thriving industries that had been connected with the automobile and radio industries started falling apart. Without a car people did not need fuel or tires; without a radio people had less need for electricity. On the international scene, the rich had practically stopped lending money to foreign countries. With such tremendous profits to be made in the stock market nobody wanted to make low interest loans. To protect the nations businesses the U.S. imposed higher trade barriers (Hawley-Smoot Tariff of 1930). Foreigners stopped buying American products. More jobs were lost, more stores were closed, more banks went under, and more factories closed. Unemployment grew to five million in 1930, and up to thirteen million in 193219. The country spiraled quickly into catastrophe. The Great Depression had begun. Bibliography:Works CitedHicks, John D. Republican Ascendancy, 1929-1933. New York: Harper Row, 1960. Himmelberg, Robert F. The Great Depression and American Capitalism. Boston: D.C. Heath and Co., 1968. McElvaine, Robert S. The Great Depression. New York Times Books, 1984. Meltzer, Milton. Brother, Can you Spare a Dime?. New York: Knopf, 1969. Rublowsky, John. After the Crash. London: Crowell-Collier, 1970. Unstead, R.J. The Twenties. Morristown, New Jersey: Macdonald, 1973