Bell's theorem

Kenneth Arrow Kenneth J. Arrow was born in New York city August 23, 1921. Growing up in the Great Depression he was very partial to the thought of socialism. This factor was a huge part in his life because it would keep his views toward left sensibility.He received his undergraduate at the City College of New York. He would graduate from there with a degree in Science in Social Sciences, but a major in mathematics. From here kenneth was able to really begin his journey into the…

Modigliani and Miller (1958) provided a new theory of capital structure, suggesting that a firm’s choice between debt and equity has no impact on the firm’s value. This became known as irrelevance theorem. However, this theory is surrounded by a number of assumptions that can be analyzed in turn. The first assumption from Modigliani and Miller (1958) is that firms operate within a perfect capital market. The perfect capital market is defined by Fabozzi, Neave and Zhou (2012, p 87). Firstly,…

Art is a creative expression formed to provoke powerful reactions, discussion, emotion, understanding and/or confusion. It has no limitations in the messages or aesthetic that an artist can bring to the forefront. This creates a perfect space to speak about social or political issues. This is no different in Aboriginal Art. Pre-colonised Aboriginal peoples used art to symbolically tell stories and document scientific knowledge for tens of thousands of years. The artists traditionally used the…

Is the UK a knowledge-based economy? Discuss. The knowledge economy contains many assets and it is changing the way society lives and works. Currently a market system that only began to exist to cope with the production of goods is now adapting to a world where knowledge is pivotal for success (Isles, 2013). This essay will begin to explore what is defined as a knowledge based economy, whether or not the UK is currently one, and what improvements can be addressed in order to stabilise the…