Modern pricing models Essay Example | Topics and Well Written Essays - 2500 words - 1

Modern pricing models - Essay Example This work involved calculating a derivative to measure how the discount rate of a warrant varies with time and stock price. The result of this calculation held a striking resemblance to a well-known heat transfer equation. Soon after this discovery, Myron Scholes joined Black and the result of their work is a startlingly accurate option pricing model. The Black–Scholes model was first published in their 1973 paper, "The Pricing of Options and Corporate Liabilities", published in the Journal of Political Economy (Black & Scholes, 1973). Robert Merton was the first to publish a paper expanding the mathematical understanding of the options pricing model, and coined the term "Black–Scholes options pricing model" (Merton, 1973). Merton and Scholes received the 1997 Nobel Prise in Economics for their work. Black was mentioned as a contributor by the Swedish Academy though ineligible for the prize because of his death in 1995. Black and Scholes cant take all credit for their work, in fact their model is actually an improved version of a previous model developed by A. James Boness in his Ph.D. dissertation at the University of Chicago (). Black and Scholes improvements on the Boness model come in the form of a proof that the risk-free interest rate is the correct discount factor, and with the absence of assumptions regarding investors risk preferences. The Black–Scholes model assumes that the market consists of at least one risky asset, usually called the stock, and one riskless asset, usually called the money market, cash, or bond. The key idea is to hedge the option by buying and selling the underlying asset in just the right way and, as a consequence, to eliminate risk. (random walk) The instantaneous log returns of the stock price is an infinitesimal random walk with drift; more precisely, it is a geometric Brown motion, and we will assume its drift and volatility

Personal Statement seeking admission to Master programme in History of

Seeking admission to Master programme in History of Science and Technology - Personal Statement Example Hence, the more reason I would want to undertake this Masters programme in History of Science and Technology in order to teach young people in school on the need for a country focusing in Science and Technology. One factor I have learned in life is the need for discipline in every pursuit that I engage in. Perhaps this comes from my military background where I worked as a finance administrator with Singapore’s People Defence Force ultimately attained the rank of Sergeant in 2009. Moreover, my other engagements, albeit in a co-curricular role, have enabled me gain focus in the direction that my career should take. These engagements in attending and organising delegates meetings within outside the country have played the crucial role in my life of finding value in helping people and influencing lives. In addition, the undergraduate scholarship-teaching award presented to me by the Ministry of Education in Singapore gave me the clear indication that I was destined to become a teacher and impact lives. They say that work without play makes Jack a dull boy. While my pursuit and the passion in becoming a teacher are self evident, I have a passion for media work. For this reason, I choose to pursue a Diploma in Multi-Media technology with a major in Film Studies and Production. In fact, my high average GPA score of 3.24 in my final semester emphasize my passion in every activity I focus on. Moreover, I have continued playing a part-time role by teaching camera handling and cinematography at a school I have helped organise. It is in light of the above that I would request for a placing in your prestigious institution to study for my Masters Degree in History of Science and Technology. I am a well-rounded student with an interest in teaching, which I believe will help me achieve my long life goals. I am a dynamic student who is ready to take what life offers in both hands and to use it to my best of

The Unique Categorical Imperative of Kant Essay Example for Free

The Unique Categorical Imperative of Kant Essay Morality appears to us as a concrete term which is underscored by certain rational assumptions about the universe. And yet, our own experience tells us that that which one considers to be vice may, to another, be seen as virtue. The reverse may also apply. Thus, it is rather difficult to reconcile that which does in fact define our cause for moral behavior, though all figures of importance to the historical discourse on philosophy have ventured a framework. The 18th century in particular would witness a flurry of activity, with the latter generation of the Enlightenment Era providing a spirited exchange across decades of literature on that which inspires moral behavior. In our investigation here of the various possible lenses through which to understand morality, consideration of German theologian Immanuel Kant’s 1785 Groundwork for the Metaphysic of Morals provides basic understanding for the discussion of morality from the normative perspective. Such is to say that Kant’s will be the most rigid, socially constrained and dangerous of understandings, but nonetheless, totally unique in its orientation and provisions for its time and place. At the center of Kant’s argument is the premise that the same reason which applies to the empirical nature of scientific discourse must rationally apply in the same way to ethical discourse. His perspective toward scientific certainty would mark a unique and original bridging of worlds between the corporeal and the ideological. Accordingly, Kant contends that â€Å"physics will have its empirical part, but it will also have a rational one; and likewise ethics – although here the empirical part might be called specifically practical anthropology, while the rational part might properly be called morals. † (Kant, 20) To Kant, previous ideals on ethical autonomy are threatening to social order, representing the opportunity for the individual to devise his own ethical parameters. The rationality of scientific practicality denotes, to Kant, instead a heteronomous orientation whereby there is a connective tissue of ethicality common to all men and women, restraining and directing behaviors. Kant defines autonomy as the ability to act based on one’s own volition. Heteronomy, on the other hand, is a common set of social forces inclining individuals to tend toward common motives and common actions. Accordingly, Kant lays out a concise framework for justice, admonishing that â€Å"the categorical imperative, which declares the action to be objectively necessary without referring to any end in view. . . . holds as an apodictic practical principle. † (Kant, p. 18) The ‘categorical imperative’ to which Kant refers is foundational to the normative theory suggesting that there is some immutable force associated with our conception and actualization of the idea of ‘good’ or ‘evil. ’ It inclines us to understanding that the means by which we behave are inherently informed by our commitment to a single, shared and unchanging idea about what is right. To commit to this idea is practical reason and to fail to make this commitment is irrational, which allows Kant to propose that such a positive correlation could be observed between rationality and morality. . This contrasts the idea of utilitarianism, which proposes that all situations demand a certain degree of pragmatism with respect to behavior. This throws into chaos the moral presuppositions of Kant, with such thinkers as Bentham and Mill coming to the fore of the discussion. In utilitarian philosophy, it is imperative that morality be channeled through an understanding of context and the nuances of society human interaction. By contrast to this view of morality, Kant provides deep ideological refusal for what he might argue is mere ethical laxity. Kant presents this argument that moral order is impossible to define without permanent standards that are shaped by man’s dignity, denoting therefore that it is only reasonable to act in cooperation with this conception for one’s own self-preservation. If Kant’s points are to be assimilated when adopting a moral stance which is consistent with man’s dignity, such absolute terms are inevitably defined by dominant social structures, bringing us to the application of a normative theoretical structure. The inextricable relationship which theology and morality have shared throughout history tends to have a tangible impact on the way these hegemonic standards are defined. And Kant, rejects any flexibility outright, however. Beyond its deviation from his established disposition toward moral absolutes, such variation violates Kant’s maxim about man as an end rather than a means. Man is to be the motive for moral acts, with his dignity defining right and wrong. Indeed, as he pointedly phrases it, â€Å"the laws of morality are laws according to which everything ought to happen; they allow for conditions under which what ought to happen doesn’t happen. † (Kant, 1) To my view, this demonstrates Kant’s approach to be both unrealistic and unattractive to the nuance and flexibility of human social systems and individual ideological orientations. Absent of these characteristics, ethicality becomes an empty term and morality a weapon against minority ideologies. Works Cited: Kant, Immanuel. 1785. Groundwork for the Metaphysics of Morals. Jonathan Bennett. Preferred language style: English(U. S. ) A. Explain the originality uniqueness of Kants ethical theory by:1)explaining kants general critcism of previous ethical theories 2)defining how kant distinguishes between autonomy heterononmy 3)explaining kants formulation of the `catergorical imperative. ` 4)explaining how adherence to the categorical imperative provides for autonomous ethical choice. B. Reflect on Kants ethical theory by:1)supporting a position on how kants theory on ethical decision making is correct or incorrect with personal thought. 2)supporting your position with evidence from the text

Employee Relations in Trade Unions and HRM

Employee Relations in Trade Unions and HRM Employee relations are critical to the success of the organisation. Good communication channels need to be in place for information flow between employers and employees. This holds true for both small and large organisations. In large organisations, there are legal rules in place to engage employee representatives. Employee representation could be in the form of trade unions, works councils, joint working groups and ad-hoc groups. In small companies, the emphasis is on direct communication between employer and employees. Small firms do not require elaborate representational systems and the legal framework excludes them from laws to consult with worker representatives in some cases. However, regardless of the size of the organisation, it is advisable for employers to have effective systems for providing information and consultations with employees on a periodic basis (ACAS, 2005). This is particularly critical for small companies that are growing at a fast rate and need to have system s in place for employee engagement as is the case with the company under consideration. Employee representation and trade unions One form of employee representation is trade unions. Trade unions are associations of employees. Trade union is an organization of workers that aims to protect and advance the interests of its members (BIS, 2009). Their objective is to sustain and enhance the terms and conditions of work for their members. This is done through collective bargaining with employers. Recognition of the trade union by the company is very important for collective bargaining. Collective bargaining takes place when the trade union negotiates with the employer on behalf of the employees on matters regarding pay and other terms and conditions of employment. Trade unions are of four types: company union, general/industrial union, craft union and white collar union (Cole, 2003). Company union represent the employees in a single company. General or Industrial union represents employees from several companies belonging to the same industry. Craft union represents skilled workers in a specific field. White collar union represent white collar employees e.g., teachers and professors. Trade unions are set up to protect and promote the interests of employees. The existence of a trade union reduces the possibilities of industrial conflict (Dillon, 2009). Trade unions play a vital role in effective communication between management and employees. They provide the support system to ensure that the differences of opinion do not turn into major conflicts. Trade unions play an active role in negotiations between management and workers in times of disagreement. Trade unions not only represent employees to discuss their pay and benefits, but also provide a voice for the employees to be heard on various other aspects of personnel policies. These include selecting employees for lay offs, retrenchment, promotion and transfer. The personnel selection criterion within an organization may not be fair and transparent. The existence of trade unions ensures that workers have a say in the proceedings and their interests are safeguarded (ILO, 1992). From the management perspective, it is beneficial to deal with trade union members who represent all the employees rather than deal with employees individually. This saves time and is cost efficient as conflicts can be resolved in a timely manner. This ensures there is no stoppage of work, thus preventing adverse effects on employee productivity and efficiency. Management will get to know from the trade union about the views of employees on various important aspects of the company polices. They can use this information to make important decisions that affect employees (Gennard Judge, 2005). Becoming a member of a trade union gives employees the confidence that their needs and interests are being protected. This is a source of motivation for workers reducing absenteeism, lower productivity and labour turnover. This ensures that there is optimum utilization of human resources in the organisation. Role of trade unions The role played by trade unions in uniting, protecting and improving the employees has a positive impact on the business. They help management in the recruitment of employees. Trade unions have also started to conduct various training and development activities for the employees. They help in unifying employees coming from diverse social and economic backgrounds by helping them get used to the work conditions in the company. As a result, workers are more aware of the rules and policies in the company. This gives the employees the requisite tools to succeed in their job. With efficient employees, companies can achieve their goals and grow at a faster rate. This will positively impact the economic development of the economy. At times of disagreement and conflict between employers and employees, trade unions play a vital role. They represent all the employees in total. This is called collective bargaining. This makes it easy for management to deal with the trade union members. This helps in building trust and co-operation. The trade union helps in resolving the conflict in a rational manner that is beneficial to both the company and its employees. In such a scenario, the acceptability of the managements decisions by the employees is greater. They have a sense of ownership for the decision-making and therefore will be more committed to achieve the companys objectives. The quality of the decisions may also improve as opinions of employees with the required skills are well represented. The focus is on mutual agreement between management, employees and their representatives for improving employee relations. Trade unions help in fostering co-operation and building industrial relations. HRM practices and trade unions The disadvantages of trade unions to management are they could lead to increase in wages at an indiscriminate rate. This means higher costs for the company. Also, trade unions consider only the requirements of its members. It gives no importance to the views and needs of employees who are not members. When trade unions impose strikes and lock-outs in the company, it causes decrease in productivity and profitability levels. Over the years, the focus in human resource management (HRM) has changed from collectivism to individualism. This means more importance given to engaging employees individually for consultation, communication and resolving conflict. In the individualism management style, the focus is on the views, opinions and needs of each employee. It seeks to bring out the best in every employee in performing their job. In collectivism management style, the company recognizes the importance of having employees views and opinions represented in management decision-making on personnel matters. The HRM approach that strikes a balance between these two management styles will give importance in building and caring for human resources in the organisation. Human resource management is a style of management for managing employee relations in a way that enables employees to perform at their best in the new era of technological changes and globalisation. There are two versions in defining HRM. The hard version adopts a rational method of dealing with employees and aims at aligning organisation strategy and human resource strategy (Bratton Gold, 2001). It views employees as a cost component that needs to be controlled. The soft version views employees as resources. Its emphasis is on grooming, training and developing employees. It works on increasing employee commitment. It looks upon a skilled and committed workforce as an important competitive advantage. Human resource management is a key function in a company, which focuses on selecting, recruiting, training and developing employees, and provide a sense of direction to them. Its main aim is to manage the human resources in an organisation effectively and contribute in achieving its goals. Functions of HRM include planning, selection, recruitment, compensation and benefits, training, performance appraisal and feedback, communication and motivation of human resources in the company. When a company is established and starts operating in a small scale, usually the owner/manager performs the HR functions. As the company grows steadily, a human resource personnel needs to be appointed, who primarily takes care of payroll processing, benefits and HR record-keeping. For the other major HR functions like recruitment and training, managers may need to participate and take the ownership. When a company crosses the 80-100 employees level, a person specializing in HRM needs to come onboard (Math is Jackson, 2007). The role of HRM in a company can be split into three: administrative, operational and strategic. The administrative role is to do with clerical responsibilities like paper work and record keeping. If the role of HR in a company is restricted to only the administrative function, then it serves no purpose both for the employers and employees. In the operational role, HR implements the strategies laid out by the management. It ensures that the plans, policies and strategies of the organisation as laid out by the management are carried out by the employees. In this role, HR acts as a liaison between the employer and employees. In the strategic role, HR plays a key role in formulating policies relating to human resources along with the management. HR contributes to organisational effectiveness and success by ensuring employees is well equipped to perform at their best and contribute significantly to the company (Mathis Jackson, 2007). For the human resource function to be effective in an organisation, the operational and strategic role must be given importance in decision-making. This ensures there is adequate communication between employers and employees. It recognises human resource as a vital component that needs to be groomed and developed for the success of the company. By ensuring employees opinions are voiced and heard on matters affecting them, HRM ensures that employees feel motivated, have a sense of purpose and ownership and contribute to the organisation. Managing employee relations within the organization Organizations today are increasingly exposed to the challenges of managing employee relations and adopt practices that promote a positive work culture. Global competitive pressures have added to the stress levels at workplace and employee satisfaction becomes a critical issue in such conditions. Large organizations with more than 100 employees often find it difficult to address employee issues and concerns. Employee representation through collectivism in the form of trade unions, joint consultation committees or individualistic approach that emphasizes on strategies like personal development plans, performance appraisals and career progression are some of the alternatives available to the organization. Changes in managerial approach are a requirement for organizations to adapt to changing operating and business environment conditions. In traditional organizations, directing involves giving assignments, explaining routines, clarifying policies, and providing feedback on performance (N ickels, 2008). This style of management has been replaced by a more encouraging approach that involves increased participation of the workforce in the decision making process. Employee empowerment strategies and a participative leadership approach are increasingly finding their acceptance within organizations since it promotes organizational efficiency in terms of productivity and performance. Flexible organizational structures that are distinguished by reduced layers of hierarchy are much favoured for their role in improving existing work culture and employee commitment levels. Employee participation and consultative practices within an organization faces distinct challenges from lack of supporting infrastructure that encourage the process of open communication. Potterfield (1999) states that empowerment strategies can be effective only when the organization provides the following four essential ingredients to its staff and that includes information about the organizations performance, rewards based on organizations performance, knowledge that enables the workforce to contribute to organizations performance, and power to make decisions that influence organizational performance. Bargaining with trade unions reflect the need to recognize their existence and this relationship can be fostered in many ways for mutual benefit. Organizations can effectively integrate their strategies to gain advantage from the existence of trade unions through the implementation of employee participation and promoting a healthy work culture that focuses on increased productivity. Organizations are run by various disciplinary standards and frameworks that guide employee behaviour at workplace, frame regulations for disciplinary actions against misbehaviour, and frame the basic rules that should be followed by people within the organization to ensure the smooth functioning and create a healthy work environment. The management is to a large extent responsible for drawing the guidelines and laying the protocols to ensure a proper code of conduct among the employees. People need to know what is expected of them in terms of standards of performance and behaviour (ACAS, 2009). It is not an effective practice to define employee code of conduct and performance levels while imposing restrictions on employee conduct as and when required by employers. The organization must have a pre-defined set of expected behaviour protocols handed out to the employees that conveys a uniform standard of conduct to all employees across all levels and departments within an organization. This is extremely helpful in directing the employees on what actions or steps should be taken next in response to a specific case or situation at the workplace. Such rules and protocols will leave no place for ambiguity or misunderstandings once the company expectations are defined and explained to the workforce. Many companies define a set of procedures for employee grievances and feedback. Such practices are useful in providing assurance to the employees that their problems will be dealt with confidentially and in uniformity with the company procedures. This ensures fair resolution of problems and guides the managers in dealing with conflicts within teams and individuals. The success of any business enterprise in todays operating environment is to a large extent dependent on the human capital resources available. In view of the present economic perspective employee relations play a critical role in deciding the business strategies and profitability position of the company. There are numerous instances when organizational conflicts can create problems with the effectiveness of operations. However, it must be understood that conflicts are an inevitable part of the business environment and organizations adopt different strategies to resolve conflicts arising at workplace. According to the conventional way of doing business conflicts were viewed as a negative and threatening action working against the organizational interests. There has been a radical change in perspectives with changing business dynamics where organizations feel that conflicts can be used to leverage organizational goals and objectives through the use of effective leadership and manageri al strategies. The individual conflict arising in workplace is more evident in the form of personal goals and objectives that clash with the goals of other individuals (Weijun, 2006). A competitive work environment promotes individuals to prove their abilities and go that extra mile to achieve higher goals. Managers and leaders instigate a competitive environment to achieve organizational goals and targets and motivate the employees to perform better. The consequences are realized in the form of increased productivity, market share and profitability. The stakeholders gain from this kind of conflicts arising at workplace. Any changes to the current and existing work procedures are met with stiff resistance from the people involved. Managing conflicts and implementing changes in an organization is a complex task that requires an able leadership that has the capacity to visualize and identify possible barriers or resistance to the planned changes. Ensuring high levels of performance within the organization requires active participation of both management and individuals in the workforce in implementing tasks and objectives (Roberts, 2004). Managers can unlock an individuals ability and willingness to perform at high levels in many ways for instance, by translating long-term goals into step by step plans, clearly stating expectations and holding people accountable (Holbeche, 2005). Training the employees is an effective conflict management strategy. It provides the employees with increased information and knowledge on the impact of organizational policies or programs and thinks in a pre-defined manner t o accept such changes. There are numerous other employee management strategies that can be implemented by the organization to ensure increased performance levels and adherence to quality standards. This includes performance appraisals, team meetings, one-to-one discussion forums, personal development plans and feedback sessions that encourage a healthy exchange of views and suggestions. The organization should outline and explain the step-by-step procedure that needs to be followed by the employees and the managers in fulfilling the objectives of performance appraisals and personal development plans. The managers should be provided with adequate guidelines on the way the system should work, how often the plans need to be reviewed and trained in the ways of conducting effective appraisal sessions. Documentation of each phase of these plans is necessary to provide the managers and employees with improved clarity on the goals decided, action plans drawn, review period and feedback of the session. Improved communication can help in motivating employees, increasing productivity and result in improved customer service. But it needs to be understood that the communication process is not simply conveying the message. It is a two-way process that needs interaction between the two parties. The management and the employees need to interact on how the managerial strategies are going to take shape and what are best possible ways to minimize risks and hurdles in the process. Giving the employees a chance to participate in management decisions not only makes them feel valuable but also ensures their support and enthusiasm in the whole process. Another vital ingredient for successful communication process is consistency. The management policies need to be consistent in their approach to instil trust and confidence in the employees. Conclusion The increase in market competitiveness has resulted in the adoption of strategic plans that focus on employee welfare and development schemes. Collective relationships are now based on relatively more cooperation in which both parties are motivated to add value to the organization (Gennard Judge, 2005, p11). The evolving employment relationships emphasize the success of the enterprise through developing employee trust and commitment, enhancing job satisfaction, employee participation in decision making process, and increasing organizational productivity, profitability and efficiency (Gennard Judge, 2005).

High Fructose Corn Syrup and Cane Sugar Industries Introduction :: Agriculture Agricultural Mexico Papers

High Fructose Corn Syrup and Cane Sugar Industries Introduction In my previous paper I did my research on the history, production, and trade of cane sugar that was mostly produced in the United States. On our study abroad trip to Mexico we saw some sugar cane fields from the road, but we did get to tour any of the farms or see any sugar processing factories. So I was thinking to myself how I am going to write a paper on sugar cane in Mexico if I never experienced any of it while I was down there. Fortunately I found a topic that was very close to home and related to some of the agriculture in Mexico as well. While visiting the Trade Management Services, Inc., we met with the Iowa trade representative, Jose Antonio Jimenez. Jose mentioned some things about the controversy with the United States and Mexico with the imported high fructose corn syrup into Mexico and the effects it has had on the sugar markets and the producers. Since Iowa is the number one grower of corn in the United States, and number one in producing high fructose corn syrup, it is a major issue for Iowans because of the great market share we have with Mexico. In this essay I will discuss some of the issues with the trade barriers, taxes, and tariffs the two countries have opposed on each other. Throughout the late 1990's and the beginning of the twenty first century there has been a major controversy on United States exports of high fructose corn syrup with Mexico. The United States Trade Representative has conducted an investigation under the Trade Act of 1974, which has been amended to the certain acts, policies and practices of the Mexican government that affects the Mexican market for high fructose corn syrup. On April 2, 1998, the Corn Refiners Association Inc. filed a petition alleging that certain acts, policies, and practices of the Government of Mexico are affecting the Trade Act because they are unreasonable and deny fair and equitable market opportunities for United States exporters of high fructose corn syrup. The United States Trade representative started their investigation on May 15, 1998, in response to the petition filed by the Corn Refiners Association Inc. They believed that the Mexican government encouraged and supported an agreement between the Mexican sugar industry and the Mexican soft drink bottling industry to limit the soft drink bottling industry's purchases of high fructose corn syrup.

Daniel Quinn’s Ishmael - Paradigms of Yesterday Essay -- Quinn Ishmae

Ishmael:  Ã‚   Paradigms of Yesterday  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "Come with me if you want to live," was all that Arnold Schwarzenegger said in his movie Terminator 2: Judgement Day, and after reading Daniel Quinn's masterpiece Ishmael, one might well receive the impression Quinn echoes such sentiments. Few books have as much relevancy in this technological, ever-changing world as Ishmael. In the beginning, according to Ishmael, God created Man to live peacefully on Earth, sustained by the fruitful bounties of Earth and subject to God's control. That is, until Man ate of the Tree of Good and Evil in the Garden Of Eden, and conveniently forgot all the rules God had so graciously placed in front of him. From that point on, the Caucasian race, full of vanity and pride for having seen so clearly what was good on the Earth and what was not, decided to subjugate the Earth to its will. During this turn of events, totalitarian agriculture was born. And God just shook his head. Fortunately, there are creatures on the Earth still willing to teach Man about his roots, and at the same time save Man from his selfdestructive impulses. Enter Ishmael, a gorilla with a conscience. Yes, a gorilla. Caged and controlled by man, Ishmael developed a self-awareness of his situation and of man's. Realizing that his destiny is intertwined with man's, he decides to save man from himself. Placing an ad in the papers, Ishmael finds a willing if disillusioned student, and presents a course of education guaranteed to save the world. Makes one wonder if the sign in Ishmael's office reads true, "With gorilla gone, will man survive?" The pupil finds that all he has learned about history is a lie, created by power hungry men two thousand years ago intent on ruling the w... ...If one does, one ends up fragmenting the entire food chain. Ecologically speaking, the Taker way of life was doomed from the beginning. However, the reader experiences a sense of pleasure as Quinn points out that many of the primitive societies have a great deal of wisdom they can teach the world on how to live in a self-sustaining society. Of course, new ideas will mean that the paradigms of yesterday will have to be discarded. However, if innovative solutions to today's ecological problems can be found, and the wisdom of ages is preserved, man has a shot at not committing cultural suicide. In trying to control all other life on the planet man has overstepped his bounds. In the end, man must realize that he is interconnected to all other life on Earth. Just consider, for a moment, the reverse side of Ishmael's office sign. "With man gone, will gorilla survive?"

Compare the Ways in Which the Roles of Women are Portrayed Essay

When focusing explicitly on the topic of a woman’s seemingly ever-evolving status, one would constantly perceive it to be a working progress of the woman and the rise of her independence. So, why when analysing both, ‘The Wife of Bath’ and ‘Death of a Salesman’ do these roles of the most prominent women seem to be in reverse? The history of a woman’s autonomy branches outwards from the past, therefore enforcing the idea of a woman, living in an earlier period, to exist under high demands of fulfilling the traditional expressive position. Yet with regards to Chaucer’s tale, why is it that Alisoun is able to possess characteristics that are both a controversy for the 14th century during in which it was written, and to a certain extent, this era momentarily? On the other hand, the 1950s ‘Death of a Salesman’ harbours a heroine who remains true to her decade’s basic notion on how both a woman and a wife should persist to be, consequently presenting Linda Loman as a stock character. With a distance of 6 centuries, is there an abstruse intention to why both the female protagonists are depicted in an unusual fashion, and totally out of the ordinary when its context is taken into account, or, is this simply the writers’ approach to manifest some sort of a response, whether it be mere shock, indulgent laughter, or utter appreciation? The titles alone contain an instantaneous conception on how both women are portrayed concurrently. ‘The Wife of Bath’ obtains an immediate link to Alisoun, unlike ‘Death of a Salesman’ which simply refers to Willy Loman and includes no innuendo of his wife Linda. Alisoun’s ownership of the tale is reinforced by the noun ‘Wife’ as a direct association to her, suggesting that she is the focal point of the tale. But is she? The prologue is definitely in her possession with her martial history being the key plot; however the tale on the other hand clearly centres the knight as the protagonist, consequently endorsing the audience to make an initial judgment on Alisoun’s character as one which is strong enough to acquire her own title. Maybe Chaucer’s main purpose was to make his eponymous hero a female to either stagger the audience by the pragmatical meaning of this whereby such power and eminence is handed to a female character, or to purely ridicule a woman with any supremacy, and in effect, is symbolic since it contains the intention of formulating humour for an audience existing in a 14th century world. With this reasoning in mind, the common use of the noun ‘Wife’ would then become a more abstract version of this since, in essence, this is merely an idea of her control and alliance to the city. Perhaps the title ‘The Wife of Bath’ can be decoded then as a euphemism that solely associates with Alisoun’s, ‘Housbandes at chirche dore I have had five-‘ This has been translated as a misrepresentation of her being promiscuous which uses hyperbole to reinforce the concept and also assists in the beginning of a caricature adaptation of a woman who is unlike most others. On the contrary, since ‘Death of a Salesman’ purely refers to Willy, this would consequently support how dominating the male gender had been in the early 50s. In relation to Linda however, the absence of any insinuation of her in the title holds a vital insight of how she is portrayed through the play itself. This maintains the persistent imagery of Linda conserving her private role as a housewife, and to an extent, Willy’s constant positive conscience, Willy – ‘I suddenly couldn’t drive anymore. ’ Linda – ‘Maybe it was the steering wheel again. ’ The adverb ‘Maybe’ certainly exhibits some indecision with Linda’s response indicating that even though she may not entirely know what Willy requires, she knows it is necessary for her to provide a reasonable answer that will help ease the blame off Willy, facilitating the assumption of Linda’s loyalty to her husband, even during the worst of times. Arthur Miller’s intention of having no connotation to Linda in the title could be indeed for the purpose of supporting the idea of her selflessness compared to Willy’s egotistical behaviour. This theory of Linda’s ignored compassion is also demonstrated when Willy commits suicide. ‘I can’t understand it. ’ This simple sentence is most commonly used with the verb ‘do not/don’t’, but, semantically, Miller permits Linda to unusually phrase this with the modal auxiliary verb and the nagator ‘can’t’ to express her rejection towards comprehending his refusal of living life fully. Perhaps the importance of this approach was to portray just how vulnerable and helpless not just Linda, but the rest of the female population was in the 50s. As if to say it had nothing to do with the capacity of the female brain but the knowledge of where that woman should remain to be. The title is therefore a description of Linda’s personality and depicts just how much Linda is taken for granted. In the earliest stage directions of ‘Death of a Salesman’, the lexis used to describe Linda Loman all relate to the semantic field of household items and the act of obeying a person: ‘stirred’ ‘iron repression’ ‘admires’ ‘listening’ Semantically, theses lexicons relate to the play itself. The stative adverb ‘admire’ implies Linda may not feel worthy of Willy therefore she can only have a high regard for him and not the ability to put herself in his position. According to this then, Linda could be summarized as a character that has a low opinion of herself. The comparison to household items proves to be crucial since it could be categorized as an exposition, introducing the audience to Linda’s most prominent characteristic. A more modern audience, and in particular contemporary women, would argue that this was very demeaning since it implies this was all they are known for. Throughout the description of the Wife from the General prologue, the audience obtains a direct inkling of her character. ‘Housbandes at chirche dore she hadde five’ This sentence delivers an eye opener as to what Alisoun’s social status is. Since only the elite managed to marry inside of a church, this would then imply that from the age of 12, Alisoun has supposedly not ascended the ladder of social mobility. The syntax of this however creates some hesitancy to admit the true number of her failed marriages. Given that she leaves the actual amount ‘five’ till last reinforces the idea of her true emotions towards them. The similarity between Linda and Alisoun then would be that aside from the fact that one woman has had considerably more partners than the other: Alisoun is still in search of love, remaining to be ever willing to find her true match. This is further proven with the syntax from the quotation. As ‘Housbandes’ is the first word in the sentence, it indicates she finds pleasure in having a husband because of the urgency to articulate the concrete noun ‘Housbandes’, despite the fact that they were all failures. Linda’s crime is that she loves her only husband far too much. It is evident that in spite of her devotion to Willy, he still ignores her and takes her for granted, Linda- ‘Take an aspirin. Should I get you an aspirin? It’ll soothe you. ’ Willy- ‘I was driving along, you understand? ’ Here it is visible that Willy does overlook his wife completely by his sudden change in topicality and the flouting of the Grice’s maxim of relevance. Perhaps this is due to the way he perceives Linda, and the minimal respect he has for her. This is further evident with his tag question, ‘you understand? Unlike Robin Lakoff’s female language theory, this does not abide by her rules. In her opinion these tag questions imply a need for some support rather than a critical remark. However it is obvious that Willy does not require any backing since he is the most dominant speaker. The pragmatics of this statement show how much of a low disregard he has on Linda’s capability of understanding such a simple concep t as driving, consequently suggesting he does, in actual fact, take his loving wife for granted. Miller’s intentions here differ depending on the gender perspective. Since this is one of many occurrences where Willy insults Linda’s intelligence, this provides evidence of her complete devotion to her husband. Perhaps this mirrors the reality of the 1950s’ female audience therefore Miller’s motive in creating such a character was simply to please the existing female population at that time and nothing more. From a male point of view following the same thesis of art imitating life, Willy’s ability to have both control and authority over Linda would have also been Miller’s method in satisfying the male audience. Linda’s speech also indicates some reluctance of being abrupt towards her husband. ‘Take an aspirin. Should I get you an aspirin? ’ This reads to be an almost repaired statement, strengthening the notion of her delicacy when interacting with her husband. Depending on the stage direction as to how this is supposed to be acted out, another contention could be that Linda’s true being slipped out for a moment. The unusual abruptness of the first sentence followed by the modal verb ‘Should’ may imply how Linda must always remain to be conscious of the words she speaks even if she truthfully isn’t like that. This could possibly have been Miller’s subtle approach in exposing just how human a woman truly is. Linda’s character is one that appears to be careful in every action she undertakes, Alisoun on the other hand gives the impression of being self-sufficient in her decisions. ‘What that he mente therby, I kan nat seyn; But that I axe, why the fifthe man Was non housbonde to the Samaritan? How manye mighte she have in marriage? Yet herde I nevere tellen in myn age Upon this nombre diffinicioun. ’ In a Russian Formalist literary opinion, her attitude here in this verse would suggest she is blasphemous and very defensive of her deeds. By allowing an illiterate female commoner challenge basic Christian belief, Chaucer invites an astonishing controversial angle on reality. An audiences’ reaction to this from the 14th century would be of great annoyance towards Alisoun since she occupies no immense background to express such a powerful opinion. According to the first line ‘What that he mente therby, I kan nat seyn’ this also suggests that her judgment is based on a more personal outlook rather than facts. From my own 21st century perspective following the same Russian Formalist fundamentals, this verse stands to be an opinion and nothing more. Alisoun’s analysis may not have changed but the reaction from the audience would have instead. In actual fact, her intrusive manner would have been one that would have been valued despite of her gender. Regardless of the fact that both texts are fictional, their mediums exhibit various conclusions: since ‘The Wife of Bath’ is classed as poetry there are some limitations as to what could have been written. It would appear that Chaucer’s main objective was to entertain the listener rather than being factual. This is evident due to the consistent structure of rhyming couplets and alliteration. Somme seyde women loven best richesse, Somme seyde honour, somme seyde jolinesse,’ There is a distinctive pattern here which works throughout the rest of the tale. Seeing as though there are no breaks or clear stanzas in the poem, the use of parallelism suggests that a list is about to form without abiding by the usual formation of a list. The rhyming, alliteratio n and sibilance ‘Somme seyde’ ‘richnesse’ ‘jolinesse’, adds emphasis on the ideas explored throughout the tale in a way which amuses an audiences of any age. Death of a Salesman’ has none of these restrictions, whereby no rules or patterns are needed to be followed. Miller is able to write as he wishes, therefore could it be said that this enables him to write according to the truth? As an audience we are only ever permitted to listen and believe the character’s opinions. This limits exactly how much we should class as valid and thus acts as a confinement of plays in general. The importance of this does not only rest on how valid these texts are historically. In context to the essay question, the mediums affect the way the theme of power is portrayed. With the aid of humour, Chaucer is able to manipulate how the audience perceives the unusual occurrence of a woman who owns such authority. This comedy enables the audience to interpret the dubious topics mentioned in the prologue half -heartedly therefore suggesting that the text can’t completely be taken seriously. Conversely ‘Death of a Salesman’ does not include many entertaining scenes to conceal the control Willy has over Linda and consequently Miller sanctions the audience into producing their own take on the subjects referred to all through the play. Sometimes a woman’s basic actions can be justified by her experiences. Alisoun has the ability to convey such intense concepts because of her endless incidents in the past. Her character’s reputation appears to be licentious which consequently enables an audience to reign in on their annoyance of her. Chaucer has portrayed Alisoun in a way which can only be described as caricature. What should be taken into consideration is that perhaps Chaucer’s overall intention when creating such an exaggerated character like the wife was to humour the audience with the ridicule of a woman with such freedom. Or perhaps it was to produce a character like no other that owns the ability to question the acts of society and their standard beliefs. Out of the entire ‘Canterbury Tales’ there are only two women who possess the ability to tell their story: the Prioress and the Wife. Since the Prioress already maintains the basics of a 14th century woman graciously, Alisoun is possibly Chaucer’s technique in inventing a woman who stands for everything the ordinary woman of that time would not and as a result, portrays life on each end of the pole for all types of audiences to experience. Linda’s character owns a front which, even after the analysis, maintains the idea of an obedient wife. However, the initial idea of her abiding by this characteristic has evidently changed. Yes, she still sticks by with her husband, even after affairs and a lack of care and attention, but is she not a stronger woman in spite of all this? Alisoun has the ability to end her marriage as soon as it goes wrong as if to say she is still searching for her ‘ideal man’ and so self-sufficient that she refuses to lead a miserable life, yet Linda remains to be as courteous as ever even after the marital problems. For a 1950s audience, Miller birthed a female icon, a woman who exists in a realist play regarding the common aspiration of the attempts at conquering the ‘American Dream’. All in all, the roles which appeared to be in reverse now seem to walk side by side along the path of independence. Six centuries apart, diverse situations at hand but both individualistically vigorous women ready to undertake what life has planned for the both of them.