Profit (economics) In neoclassical microeconomic theory, the term profit has two related but distinct meanings. Economic profit is similar to accounting profit but smaller because it reflects the total opportunity costs (both explicit and implicit) of a venture to an investor. Normal profit refers to a situation in which the economic profit is zero. A related concept, sometimes considered synonymous to profit in certain contexts, is that of economic rent. In Classical economics and Marxian economics, profit is the return to an owner of capital goods or natural resources in any productive pursuit involving labor, or a return on bonds and money invested in capital markets. By extension, in Marxian economic theory, the maximization of profit corresponds to the accumulation of capital, which is the driving force behind economic activity within the capitalist mode of production. Related concepts include profitability and the profit motive. Profitability is a term of economic efficiency.
The Case for Preserving the Pleasure of Deep Reading When a minaret dating from the twelfth century was toppled in the fighting between rebels and government forces in Aleppo, Syria, earlier this spring, we recognized that more than a building had been lost. The destruction of irreplaceable artifacts—like the massive Buddha statues dynamited in the Bamiyan Valley in Afghanistan in 2001 and the ancient texts burned and looted in Iraq in 2003—leaves us less equipped to understand ourselves and where we came from, less able to enlarge ourselves with the awe and pleasure that these creations once evoked. Which is why we should care about the survival of a human treasure threatened right here at home: the deep reader. “Deep reading”—as opposed to the often superficial reading we do on the web—is an endangered practice, one we ought to take steps to preserve as we would a historic building or a significant work of art. None of this is likely to happen when we’re scrolling through TMZ.com. Related
Creative Routines “We all have the same 24 hours that Beyoncé has” and its various iterations took the web by storm in late 2013 as the megastar became the figurehead of not only having it all, but being able to somehow do it all too. How do creatives – composers, painters, writers, scientists, philosophers – find the time to produce their opus? Mason Currey investigated the rigid Daily Rituals that hundreds of creatives practiced in order to carve out time, every day, to work their craft. Some kept to the same disciplined regimen for decades while others locked in patterns only while working on specific works. Creative Routines Poster
Block on rare Napoleon death mask leaving UK - This Britain - UK The plaster mask was sold for £175,000 to an overseas buyer earlier this year by a descendant of the brother of its original owner, Reverend Richard Boys. He was a chaplain on the Atlantic island of St Helena in May 1821 when the exiled French emperor died. Leslie Webster, a member of a government committee which advised Ed Vaizey, the culture minister, about the mask, said it has “a power and immediacy that raises the hairs on the back of the neck”. Ms Webster added: “The sense that you are in the presence of Napoleon is very strong. There are many grandiose portraits, as well as contemporary British caricatures of this great and controversial figure, but this deathbed image speaks far more directly to us – here we see the man himself, and sense his charisma, even in death.” A British buyer has until 14 January next year to match the sale price or the export will be allowed.
Archaeology: The milk revolution In the 1970s, archaeologist Peter Bogucki was excavating a Stone Age site in the fertile plains of central Poland when he came across an assortment of odd artefacts. The people who had lived there around 7,000 years ago were among central Europe's first farmers, and they had left behind fragments of pottery dotted with tiny holes. It looked as though the coarse red clay had been baked while pierced with pieces of straw. Federal Reserve System The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system. The U.S. The authority of the Federal Reserve System is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight.
If I Were a Black Kid ... - Ta-Nehisi Coates Here is a thought experiment—I do not pose this as an argument, or a "gotcha" proposition. I seriously want to hear this speech: TNC, if you are invited to your high school, Baltimore Polytechnic (thanks Wikipedia! P.S.: that you are not listed as a notable Alumnus is BS) and asked to speak to the students, what would you say? You're not allowed to give an impersonal, professorial talk about your academic interests. Let's assume the people who have invited you really want to know what you think they should do as individuals, and what they should do as a community, in order to achieve the kind of success in life that you have earned.
25 Mind-Twisting Optical Illusion Paintings By Rob Gonsalves The beautiful and mind-bending illusions in Canadian artist Robert Gonsalves’ paintings have a fun way of twisting your perception and causing you to question what in his paintings, if anything, is real. Most of his stunning paintings have an unclear boundary between the multiple stories they tell, which forces the viewer to jump back and forth between them – like an optical illusion that changes every time you look at it. Gonsalves’ interest in art began at an early age, which is why he became comfortable with painting such complex misdirections. He had experience with technique and perspective and architectural art by the age of 12. When he encountered Salvador Dali and Rene Magritte, they clearly left a lasting impact on his amazing paintings as well.
Crisis of the Third Century The divided Empire in AD 271. The Crisis of the Third Century, also known as Military Anarchy or the Imperial Crisis, (AD 235–284) was a period in which the Roman Empire nearly collapsed under the combined pressures of invasion, civil war, plague, and economic depression. The Crisis began with the assassination of Emperor Alexander Severus at the hands of his own troops, initiating a fifty-year period in which 20–25 claimants to the title of Emperor, mostly prominent Roman army generals, assumed imperial power over all or part of the Empire. 26 men were officially accepted by the Roman Senate as emperor during this period, and thus became legitimate emperors. The Crisis resulted in such profound changes in the Empire's institutions, society, economic life and, eventually, religion, that it is increasingly seen by most historians as defining the transition between the historical periods of classical antiquity and late antiquity.
Lists 6 Ingenious Acts of Battlefield Deception From a famous War of 1812 charade to Alexander the Great’s masterful ambush at the Battle of the Hydaspes, take a look back at six occasions when military commanders used unconventional methods to outfox their opponents. 7 Lost Burial Sites From Genghis Khan to Alexander the Great, get the facts on seven historical titans whose final resting places are unaccounted for.