Poverty and social status Essay Example | Topics and Well Written Essays - 500 words

Poverty and social status - Essay Example Because of his overly suffered pains and no gains, he sometimes thinks about stealing from Mr. Ganesh Pai, the owner of the shop. The writer informs about Indian society and the lives of people who are totally different socially such as the politicians, rich children having ice-cream and poor carters laying in rain without any coverage and doing work more than their capacity. The treatment of rich people towards Chenayya and other people like him was very ill and odd. He was just treated as an animal that should perform his duties without troubling anyone else. Adiga reveals about the low status people of India in the character of Chenayya who compares himself with many animals in the story in order to reveal his position in his society. Firstly, he compared himself to a pig, then to an elephant and then to dogs. He had to continue his job of pulling carts in order to earn his livelihood. The greatest factor that is revealed through this story is that people do not even pay him according to his struggles. Chenayya is unable to earn good money, is disliked by people and even the prostitute is unable to give him any heed for which, he is very angry. He becomes very angry at times and wishes to hurt someone with his saw. He also abuses people while pulling cart and while moving in the traffic. His abusing and his anger are an outcome of his hardships. He has no place to live except the cart. He is unable to marry because of his inability to earn a livelihood that is enough for two. The writer of the short story sketches the life of a poor carter who thinks overly about his state of living and wishes to bring in some difference. However, the carter is unable to earn enough money even to fulfill his needs. The story reveals about poverty faced by the lower most class of Indian

Does the efficient market theory apply on the forex market Fundamental Literature review

Does the efficient market theory apply on the forex market Fundamental analysis Vs. Technical analysis - Literature review Example In the international trade, the buyer or seller of the products wants to have payment in his home currency. This needs an exchange of currencies from that of a seller to that of a buyer. Any international trade will involve in any two instantaneous transactions: Exchange of the products in a physical form Sale or purchase of foreign currency In any international trade, the sale or purchase of any product will affect only one the parties in the foreign exchange. Suppose, If a British importer buy ? 100,000 worth of products from an American manufacturer, and the invoice is billed in US$, the burden falls on the British importer to buy ? to complete that business transaction and vice-versa. Thus, the party assumes the risk that the exchange rate on that specific date of conversion is positive to that party. (James, Neelankavil & Rai 2009:246). The Forex market is operating on an international basis where currency of each nation is bought and sold freely. The forex system was introduced in the 1970s at the time of introduction of free exchange rates and the price of one currency, and the price of one currency against another that happens from demand and supply that are only decided by the market participants.(Dicks 2010: 5). Forex market can be termed as a perfect market as it cannot be either monopolised or controlled by any of its participants. Due to ever increasing number of transactions on a daily basis makes it as the biggest liquid financial market and as per an estimate, money transaction involves in the forex market form up to US$ 6 trillion per day. This figure is only a tentative figure as the exact amount cannot be quantified due to the transactions are not centralised on a forex single exchange. With the help of telecommunication, trading is carried over all over the globe and with electronic networks with five days in week and 24 hours a day and there are dealers quoting currencies in each time zone through the main central markets: New York, London, Frankfurt, Hong Kong, Tokyo, New Zealand and Australia. (Dicks 2010: 5). The forex market is being able to maintain its goal and avoid being manipulated or controlled by any few or one of its participants since the volume transacted is so high that if any of them would want to distort by changing price at their volition, they have to operate with hundreds of billions of dollars. That is why forex market cannot be swayed by any single participant and even though, there are scenarios where large transactions can appear to assume control of the forex market for a few minutes, the balance is restored again instantly due to the great liquidity associated. This also permits traders to derive revenues by closing and opening positions within a few seconds. (Dicks 2010: 5). The place or venue for the sale and purchase of foreign currency is called as the foreign exchange market. This research essay will make a complete literature review on an efficient market hypothesis of forex market, inc luding fundamental and technical analysis, also offers a brief history on the forex market and overview of the market in an exhaustive manner. Definition of Foreign Currency A foreign currency rate denotes to the price any person pays in one currency to buy another currency. It is to be observed that a currency is analogous to any other product namely food or gold; its price is decided by the supply or demand for the said product. For instance, if a forex dealer quotes US$ 1.35 per ?, then he is quoting US$1.35 for the sale or purchase of per ?. (James, Neelankavil & Rai 2009:247). Quotes for exchange rates are available either for instant release or for the future delivery. For the immediate delivery, the price of foreign currency is known as spot rate. Due to introduction of advanced IT in the forex transactions, now it is made possible for a spot transaction to be cleared or settled on the same day is possible. The largest consortium of the