Tel Aviv is the second most populous city in Israel—after Jerusalem—and the most populous city in the conurbation of Gush Dan, Israel's largest metropolitan area. Located on the country's Mediterranean coastline and with a population of 443,939, it is the economic and technological center of the country. Tel Aviv is governed by the Tel Aviv-Yafo Municipality, headed by Mayor Ron Huldai, is home to many foreign embassies, it is ranked 25th in the Global Financial Centres Index. Tel Aviv has the third- or fourth-largest economy and the largest economy per capita in the Middle East; the city has the 31st highest cost of living in the world. Tel Aviv receives over 2.5 million international visitors annually. A "party capital" in the Middle East, it has 24-hour culture. Tel Aviv is home to Tel Aviv University, the largest university in the country with more than 30,000 students; the city was founded in 1909 by the Yishuv as a modern housing estate on the outskirts of the ancient port city of Jaffa part of the Jerusalem province of Ottoman Syria.
It was at first called'Ahuzat Bayit', a name changed the following year to'Tel Aviv'. Its name means "Ancient Hill of Spring". Other Jewish suburbs of Jaffa established outside Jaffa's Old City before Tel Aviv became part of Tel Aviv, the oldest among them being Neve Tzedek. Immigration by Jewish refugees meant that the growth of Tel Aviv soon outpaced that of Jaffa, which had a majority Arab population at the time. Tel Aviv and Jaffa were merged into a single municipality in 1950, two years after the Israeli Declaration of Independence, proclaimed in the city. Tel Aviv's White City, designated a UNESCO World Heritage Site in 2003, comprises the world's largest concentration of International Style buildings, including Bauhaus and other related modernist architectural styles. Tel Aviv is the Hebrew title of Theodor Herzl's Altneuland, translated from German by Nahum Sokolow. Sokolow had adopted the name of a Mesopotamian site near the city of Babylon mentioned in Ezekiel: "Then I came to them of the captivity at Tel Aviv, that lived by the river Chebar, to where they lived.
The name was chosen in 1910 from several suggestions, including "Herzliya". It was found fitting. Aviv is Hebrew for "spring", symbolizing renewal, tel is a man-made mound accumulating layers of civilization built one over the other and symbolizing the ancient. Although founded in 1909 as a small settlement on the sand dunes north of Jaffa, Tel Aviv was envisaged as a future city from the start, its founders hoped that in contrast to what they perceived as the squalid and unsanitary conditions of neighbouring Arab towns, Tel Aviv was to be a clean and modern city, inspired by the European cities of Warsaw and Odessa. The marketing pamphlets advocating for its establishment in 1906, wrote: In this city we will build the streets so they have roads and sidewalks and electric lights; every house will have water from wells that will flow through pipes as in every modern European city, sewerage pipes will be installed for the health of the city and its residents. Jaffa, now a part of Tel Aviv, was an important port city in the region for millennia.
Archaeological evidence shows signs of human settlement there starting in 7,500 BC. Its natural harbour has been used since the Bronze Age. By the time Tel Aviv was founded as a separate city during Ottoman rule of the region, Jaffa had been ruled by the Canaanites, Philistines, Assyrians, Persians, Ptolemies, Hasmoneans, Byzantines, the early Islamic caliphates, Crusaders and Mamluks before coming under Ottoman rule in 1515, it had been fought over numerous times. The city is mentioned in ancient Egyptian documents, as well as the Hebrew Bible. During the First Aliyah in the 1880s, when Jewish immigrants began arriving in the region in significant numbers, new neighborhoods were founded outside Jaffa on the current territory of Tel Aviv; the first was Neve Tzedek, founded by Mizrahi Jews due to overcrowding in Jaffa and built on lands owned by Aharon Chelouche. Other neighborhoods were Neve Shalom, Yafa Nof, Ohel Moshe, Kerem HaTeimanim, others. Once Tel Aviv received city status in the 1920s, those neighborhoods joined the newly formed municipality, now becoming separated from Jaffa.
The Second Aliyah led to further expansion. In 1906, a group of Jews, among them residents of Jaffa, followed the initiative of Akiva Aryeh Weiss and banded together to form the Ahuzat Bayit society; the society's goal was to form a "Hebrew urban centre in a healthy environment, planned according to the rules of aesthetics and modern hygiene." The urban planning for the new city was influenced by the Garden city movement. The first 60 plots were purchased in Kerem Djebali near Jaffa by Jacobus Kann, a Dutch citizen, who registered them in his name to circumvent the Turkish prohibition on Jewish land acquisition. Meir Dizengoff Tel Aviv's first mayor joined the Ahuzat Bayit society, his vision for Tel Aviv involved peaceful co-existence with Arabs. On 11 April 1909, 66 Jewish families gathered on a desolate sand dune to parcel out the land by lottery using seashells; this gathering is considered the official date of the establishment of Tel Aviv. The lottery was organised by president of the building society.
Weiss collected 120
The New York Times
The New York Times is an American newspaper based in New York City with worldwide influence and readership. Founded in 1851, the paper has won more than any other newspaper; the Times is ranked 17th in the world by circulation and 2nd in the U. S; the paper is owned by The New York Times Company, publicly traded and is controlled by the Sulzberger family through a dual-class share structure. It has been owned by the family since 1896. G. Sulzberger, the paper's publisher, his father, Arthur Ochs Sulzberger Jr. the company's chairman, are the fourth and fifth generation of the family to helm the paper. Nicknamed "The Gray Lady", the Times has long been regarded within the industry as a national "newspaper of record"; the paper's motto, "All the News That's Fit to Print", appears in the upper left-hand corner of the front page. Since the mid-1970s, The New York Times has expanded its layout and organization, adding special weekly sections on various topics supplementing the regular news, editorials and features.
Since 2008, the Times has been organized into the following sections: News, Editorials/Opinions-Columns/Op-Ed, New York, Sports of The Times, Science, Home and other features. On Sunday, the Times is supplemented by the Sunday Review, The New York Times Book Review, The New York Times Magazine and T: The New York Times Style Magazine; the Times stayed with the broadsheet full-page set-up and an eight-column format for several years after most papers switched to six, was one of the last newspapers to adopt color photography on the front page. The New York Times was founded as the New-York Daily Times on September 18, 1851. Founded by journalist and politician Henry Jarvis Raymond and former banker George Jones, the Times was published by Raymond, Jones & Company. Early investors in the company included Edwin B. Morgan, Christopher Morgan, Edward B. Wesley. Sold for a penny, the inaugural edition attempted to address various speculations on its purpose and positions that preceded its release: We shall be Conservative, in all cases where we think Conservatism essential to the public good.
We do not believe that everything in Society is either right or wrong. In 1852, the newspaper started a western division, The Times of California, which arrived whenever a mail boat from New York docked in California. However, the effort failed. On September 14, 1857, the newspaper shortened its name to The New-York Times. On April 21, 1861, The New York Times began publishing a Sunday edition to offer daily coverage of the Civil War. One of the earliest public controversies it was involved with was the Mortara Affair, the subject of twenty editorials in the Times alone; the main office of The New York Times was attacked during the New York City Draft Riots. The riots, sparked by the beginning of drafting for the Union Army, began on July 13, 1863. On "Newspaper Row", across from City Hall, Henry Raymond stopped the rioters with Gatling guns, early machine guns, one of which he manned himself; the mob diverted, instead attacking the headquarters of abolitionist publisher Horace Greeley's New York Tribune until being forced to flee by the Brooklyn City Police, who had crossed the East River to help the Manhattan authorities.
In 1869, Henry Raymond died, George Jones took over as publisher. The newspaper's influence grew in 1870 and 1871, when it published a series of exposés on William Tweed, leader of the city's Democratic Party—popularly known as "Tammany Hall" —that led to the end of the Tweed Ring's domination of New York's City Hall. Tweed had offered The New York Times five million dollars to not publish the story. In the 1880s, The New York Times transitioned from supporting Republican Party candidates in its editorials to becoming more politically independent and analytical. In 1884, the paper supported Democrat Grover Cleveland in his first presidential campaign. While this move cost The New York Times a portion of its readership among its more progressive and Republican readers, the paper regained most of its lost ground within a few years. After George Jones died in 1891, Charles Ransom Miller and other New York Times editors raised $1 million dollars to buy the Times, printing it under the New York Times Publishing Company.
However, the newspaper was financially crippled by the Panic of 1893, by 1896, the newspaper had a circulation of less than 9,000, was losing $1,000 a day. That year, Adolph Ochs, the publisher of the Chattanooga Times, gained a controlling interest in the company for $75,000. Shortly after assuming control of the paper, Ochs coined the paper's slogan, "All The News That's Fit To Print"; the slogan has appeared in the paper since September 1896, has been printed in a box in the upper left hand corner of the front page since early 1897. The slogan was a jab at competing papers, such as Joseph Pulitzer's New York World and William Randolph Hearst's New York Journal, which were known for a lurid and inaccurate reporting of facts and opinions, described by the end of the century as "yellow journalism". Under Ochs' guidance, aided by Carr
Computer science is the study of processes that interact with data and that can be represented as data in the form of programs. It enables the use of algorithms to manipulate and communicate digital information. A computer scientist studies the theory of computation and the practice of designing software systems, its fields can be divided into practical disciplines. Computational complexity theory is abstract, while computer graphics emphasizes real-world applications. Programming language theory considers approaches to the description of computational processes, while computer programming itself involves the use of programming languages and complex systems. Human–computer interaction considers the challenges in making computers useful and accessible; the earliest foundations of what would become computer science predate the invention of the modern digital computer. Machines for calculating fixed numerical tasks such as the abacus have existed since antiquity, aiding in computations such as multiplication and division.
Algorithms for performing computations have existed since antiquity before the development of sophisticated computing equipment. Wilhelm Schickard designed and constructed the first working mechanical calculator in 1623. In 1673, Gottfried Leibniz demonstrated a digital mechanical calculator, called the Stepped Reckoner, he may be considered the first computer scientist and information theorist, among other reasons, documenting the binary number system. In 1820, Thomas de Colmar launched the mechanical calculator industry when he released his simplified arithmometer, the first calculating machine strong enough and reliable enough to be used daily in an office environment. Charles Babbage started the design of the first automatic mechanical calculator, his Difference Engine, in 1822, which gave him the idea of the first programmable mechanical calculator, his Analytical Engine, he started developing this machine in 1834, "in less than two years, he had sketched out many of the salient features of the modern computer".
"A crucial step was the adoption of a punched card system derived from the Jacquard loom" making it infinitely programmable. In 1843, during the translation of a French article on the Analytical Engine, Ada Lovelace wrote, in one of the many notes she included, an algorithm to compute the Bernoulli numbers, considered to be the first computer program. Around 1885, Herman Hollerith invented the tabulator, which used punched cards to process statistical information. In 1937, one hundred years after Babbage's impossible dream, Howard Aiken convinced IBM, making all kinds of punched card equipment and was in the calculator business to develop his giant programmable calculator, the ASCC/Harvard Mark I, based on Babbage's Analytical Engine, which itself used cards and a central computing unit; when the machine was finished, some hailed it as "Babbage's dream come true". During the 1940s, as new and more powerful computing machines were developed, the term computer came to refer to the machines rather than their human predecessors.
As it became clear that computers could be used for more than just mathematical calculations, the field of computer science broadened to study computation in general. In 1945, IBM founded the Watson Scientific Computing Laboratory at Columbia University in New York City; the renovated fraternity house on Manhattan's West Side was IBM's first laboratory devoted to pure science. The lab is the forerunner of IBM's Research Division, which today operates research facilities around the world; the close relationship between IBM and the university was instrumental in the emergence of a new scientific discipline, with Columbia offering one of the first academic-credit courses in computer science in 1946. Computer science began to be established as a distinct academic discipline in the 1950s and early 1960s; the world's first computer science degree program, the Cambridge Diploma in Computer Science, began at the University of Cambridge Computer Laboratory in 1953. The first computer science degree program in the United States was formed at Purdue University in 1962.
Since practical computers became available, many applications of computing have become distinct areas of study in their own rights. Although many believed it was impossible that computers themselves could be a scientific field of study, in the late fifties it became accepted among the greater academic population, it is the now well-known IBM brand that formed part of the computer science revolution during this time. IBM released the IBM 704 and the IBM 709 computers, which were used during the exploration period of such devices. "Still, working with the IBM was frustrating if you had misplaced as much as one letter in one instruction, the program would crash, you would have to start the whole process over again". During the late 1950s, the computer science discipline was much in its developmental stages, such issues were commonplace. Time has seen significant improvements in the effectiveness of computing technology. Modern society has seen a significant shift in the users of computer technology, from usage only by experts and professionals, to a near-ubiquitous user base.
Computers were quite costly, some degree of humanitarian aid was needed for efficient use—in part from professional computer operators. As computer adoption became more widespread and affordable, less human assistance was needed for common usage. Despite its short history as a formal academic discipline, computer science has made a number of fundamental contributions to science and society—in fact, along with electronics, it is
BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988 as a risk management and fixed income institutional asset manager, BlackRock is today the world's largest asset manager with $5.98 trillion in assets under management as of December 2018. BlackRock operates globally with 70 offices in 30 clients in 100 countries. Due to its power and the sheer size and scope of its financial assets and activities, BlackRock has been called the world's largest shadow bank. BlackRock was founded in 1988 by Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, Keith Anderson to provide institutional clients with asset management services from a risk management perspective. Fink, Kapito and Novick had worked together at First Boston, where Fink and his team were pioneers in the mortgage-backed securities market in the United States. During Fink's tenure, he had lost $100 million as head of First Boston; that experience was the motivation to develop what he and the others considered to be excellent risk management and fiduciary practices.
Fink sought funding from Pete Peterson of The Blackstone Group who believed in Fink's vision of a firm devoted to risk management. Peterson called it Blackstone Financial Management. In exchange for a 50 percent stake in the bond business Blackstone gave Fink and his team a $5 million credit line. Within months, the business had turned profitable, by 1989 the group's assets had quadrupled to $2.7 billion. The percent of the stake owned by Blackstone fell to 40%, compared to Fink's staff. By 1992, Blackstone had a stake equating to about 35% of the company, Schwarzman and Fink were considering selling shares to the public; the firm adopted the name BlackRock in 1992, by the end of that year, BlackRock was managing $17 billion in assets. At the end of 1994, BlackRock was managing $53 billion. In 1994, Blackstone Group's Stephen A. Schwarzman and Fink had an internal dispute over methods of compensation and over equity. Fink wanted to share equity with new hires, to lure talent from banks, unlike Schwarzman, who did not want to further lower Blackstone's stake.
They agreed to part ways, so the BlackRock partners orchestrated a deal to sell part of the company. In June 1994 Blackstone sold a mortgage-securities unit with $23 billion in assets to PNC Bank Corp. for $240 million. The unit had traded mortgages and other fixed-income assets, during the sales process the unit changed its name from Blackstone Financial Management to BlackRock Financial Management. Schwarzman remained with Blackstone, while Fink went on to become CEO of BlackRock Inc.. In 1998, PNC’s equity and mutual fund activities were merged into BlackRock. BlackRock went public in 1999 at $14 a share on the New York Stock Exchange. By the end of 1999, BlackRock was managing $165 billion in assets. BlackRock grew both organically and by acquisition. In August 2004, BlackRock made its first major acquisition, buying State Street Research & Management's holding company SSRM Holdings, Inc. from MetLife for $325 million in cash and $50 million in stock. The acquisition raised BlackRock's assets under management from $314 billion to $325 billion.
The deal included the mutual-fund business State Street Research & Management in 2005. BlackRock merged with Merrill Lynch Investment Managers in 2006, halving PNC's ownership and giving Merrill Lynch a 49.5% stake in the company. In October 2007, BlackRock acquired the fund-of-funds business of Quellos Capital Management; the U. S. government contracted with BlackRock to help clean up after the financial meltdown of 2008. According to Vanity Fair, the financial establishment in Washington and on Wall Street believed BlackRock was the best choice for the job. In 2009, BlackRock first became the No. 1 asset manager worldwide. In April 2009, BlackRock acquired R3 Capital Management, LLC and took control of the $1.5 billion fund. On 12 June 2009, Barclays sold its Global Investors unit, which included its exchange traded fund business, iShares, to BlackRock for US$13.5 billion. Through the deal, Barclays attained a near-20% stake in BlackRock. In 2010, Ralph Schlosstein, the CEO of Evercore Partners and a BlackRock founder, called BlackRock "the most influential financial institution in the world."
On 1 April 2011, BlackRock replaced Genzyme on the S&P 500 index. In 2013, Fortune listed BlackRock on its annual list of the world's 50 Most Admired Companies. In 2014, The Economist said that BlackRock's $4 trillion under management made it the "world's biggest asset manager", it was larger than the world's largest bank, the Industrial and Commercial Bank of China with $3 trillion. In May of the same year, BlackRock invested in Snapdeal. In December 2014 a BlackRock managing director in London was banned by the British Financial Conduct Authority for "not being a fit and proper" person, because he paid £43,000 to avoid prosecution for dodging train fares. BlackRock said: "Jonathan Burrows left BlackRock earlier this year. What he admitted to the FCA is contrary to our values and principles."At the end of 2014, the Sovereign Wealth Fund Institute reported that 65% of Blackrock's assets under management were made up of institutional investors. By June 30, 2015, BlackRock had US $4.721 trillion of assets under management.
On August 26, 2015, BlackRock entered into a definitive agreement to acquire FutureAdvisor, a digital wealth management provider with reported assets under management of $600 million. Under the deal, FutureAdvisor would operate as a business within BlackRock Solutions. BlackRock announced in November 2015 that they would wind down the BlackRock Global Ascent hedge fund after losses; the Glob
The Financial Times is an English-language international daily newspaper owned by Nikkei Inc, headquartered in London, with a special emphasis on business and economic news. The paper was founded in 1888 by James Sheridan and Horatio Bottomley, merged in 1945 with its closest rival, the Financial News; the Financial Times has over 740,000 digital subscribers. On 23 July 2015, Nikkei Inc. agreed to buy the Financial Times from Pearson for £844m and the acquisition was completed on 30 November 2015. The FT was launched as the London Financial Guide on 10 January 1888, renaming itself the Financial Times on 13 February the same year. Describing itself as the friend of "The Honest Financier, the Bona Fide Investor, the Respectable Broker, the Genuine Director, the Legitimate Speculator", it was a four-page journal; the readership was the financial community of the City of London, its only rival being the older and more daring Financial News. On 2 January 1893 the FT began printing on light salmon-pink paper to distinguish it from the named Financial News: at the time it was cheaper to print on unbleached paper, but nowadays it is more expensive as the paper has to be dyed specially.
After 57 years of rivalry the Financial Times and the Financial News were merged in 1945 by Brendan Bracken to form a single six-page newspaper. The Financial Times brought a higher circulation while the Financial News provided much of the editorial talent; the Lex column was introduced from Financial News. Pearson bought the paper in 1957. Over the years the paper grew in size and breadth of coverage, it established correspondents in cities around the world, reflecting a renewed impetus in the world economy towards globalisation. As cross-border trade and capital flows increased during the 1970s, the FT began international expansion, facilitated by developments in technology and the growing acceptance of English as the international language of business. On 1 January 1979 the first FT was printed in Frankfurt. Since with increased international coverage, the FT has become a global newspaper, printed in 22 locations with five international editions to serve the UK, continental Europe, the U. S.
Asia and the Middle East. The European edition is distributed in continental Africa, it is printed Monday to Saturday at five centres across Europe reporting on matters concerning the European Union, the Euro and European corporate affairs. In 1994 FT launched a luxury lifestyle magazine. In 2009 it launched a standalone website for the magazine. On 13 May 1995 the Financial Times group made its first foray into the online world with the launch of FT.com. This provided a summary of news from around the globe, supplemented in February 1996 with stock price coverage; the site was funded by advertising and contributed to the online advertising market in the UK in the late 1990s. Between 1997 and 2000 the site underwent several revamps and changes of strategy, as the FT Group and Pearson reacted to changes online. FT introduced subscription services in 2002. FT.com is one of the few UK news sites funded by individual subscription. In 1997 the FT launched a U. S. edition, printed in New York, Los Angeles, San Francisco, Atlanta and Washington, D.
C. although the newspaper was first printed outside New York City in 1985. In September 1998 the FT became the first UK-based newspaper to sell more copies internationally than within the UK. In 2000 the Financial Times started publishing a German-language edition, Financial Times Deutschland, with a news and editorial team based in Hamburg, its initial circulation in 2003 was 90,000. It was a joint venture with a German publishing firm, Gruner + Jahr. In January 2008 the FT sold its 50% stake to its German partner. FT Deutschland never made a profit and is said to have accumulated losses of €250 million over 12 years, it closed on 7 December 2012. The Financial Times launched a new weekly supplement for the fund management industry on 4 February 2002. FT fund management was and still is distributed with the paper every Monday. FTfm is the world's largest-circulation fund management title. Since 2005 the FT has sponsored the annual"Financial Times" and Goldman Sachs Business Book of the Year Award.
On 23 April 2007 the FT unveiled a "refreshed" version of the newspaper and introduced a new slogan, "We Live in Financial Times."In 2007 the FT pioneered a metered paywall, which lets visitors to its site read a limited number of free articles during any one month before asking them to pay. Four years the FT launched its HTML5 mobile internet app. Smartphones and tablets now drive 19 % of traffic to FT.com. In 2012 the number of digital subscribers surpassed the circulation of the newspaper for the first time and the FT drew half of its revenue from subscriptions rather than advertising. Since 2010 the FT has been available on Bloomberg Terminal. Since 2013 the FT has been available on Wisers platform. In 2016, the Financial Times acquired a controlling stake in Alpha Grid, a London-based media company specialising in the development and production of quality branded content across a range of channels, including broadcast, digital and events. In 2018, the Financial Times acquired a controlling stake in Longitude, a specialist provider of thought leadership and research services to a multinational corporate and institutional client base.
This investment builds on the Financial Times’ recent growth in sev
Economics is the social science that studies the production and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, the outcomes of interactions. Individual agents may include, for example, firms and sellers. Macroeconomics analyzes the entire economy and issues affecting it, including unemployment of resources, economic growth, the public policies that address these issues. See glossary of economics. Other broad distinctions within economics include those between positive economics, describing "what is", normative economics, advocating "what ought to be". Economic analysis can be applied throughout society, in business, health care, government. Economic analysis is sometimes applied to such diverse subjects as crime, the family, politics, social institutions, war and the environment; the discipline was renamed in the late 19th century due to Alfred Marshall, from "political economy" to "economics" as a shorter term for "economic science".
At that time, it became more open to rigorous thinking and made increased use of mathematics, which helped support efforts to have it accepted as a science and as a separate discipline outside of political science and other social sciences. There are a variety of modern definitions of economics. Scottish philosopher Adam Smith defined what was called political economy as "an inquiry into the nature and causes of the wealth of nations", in particular as: a branch of the science of a statesman or legislator a plentiful revenue or subsistence for the people... to supply the state or commonwealth with a revenue for the publick services. Jean-Baptiste Say, distinguishing the subject from its public-policy uses, defines it as the science of production and consumption of wealth. On the satirical side, Thomas Carlyle coined "the dismal science" as an epithet for classical economics, in this context linked to the pessimistic analysis of Malthus. John Stuart Mill defines the subject in a social context as: The science which traces the laws of such of the phenomena of society as arise from the combined operations of mankind for the production of wealth, in so far as those phenomena are not modified by the pursuit of any other object.
Alfred Marshall provides a still cited definition in his textbook Principles of Economics that extends analysis beyond wealth and from the societal to the microeconomic level: Economics is a study of man in the ordinary business of life. It enquires how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man. Lionel Robbins developed implications of what has been termed "erhaps the most accepted current definition of the subject": Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. Robbins describes the definition as not classificatory in "pick out certain kinds of behaviour" but rather analytical in "focus attention on a particular aspect of behaviour, the form imposed by the influence of scarcity." He affirmed that previous economists have centred their studies on the analysis of wealth: how wealth is created and consumed. But he said that economics can be used to study other things, such as war, that are outside its usual focus.
This is because war has as the goal winning it, generates both cost and benefits. If the war is not winnable or if the expected costs outweigh the benefits, the deciding actors may never go to war but rather explore other alternatives. We cannot define economics as the science that studies wealth, crime and any other field economic analysis can be applied to; some subsequent comments criticized the definition as overly broad in failing to limit its subject matter to analysis of markets. From the 1960s, such comments abated as the economic theory of maximizing behaviour and rational-choice modelling expanded the domain of the subject to areas treated in other fields. There are other criticisms as well, such as in scarcity not accounting for the macroeconomics of high unemployment. Gary Becker, a contributor to the expansion of economics into new areas, describes the approach he favours as "combin assumptions of maximizing behaviour, stable preferences, market equilibrium, used relentlessly and unflinchingly."
One commentary characterizes the remark as making economics an approach rather than a subject matter but with great specificity as to the "choice process and the type of social interaction that analysis involves." The same source reviews a range of definitions included in principles of economics textbooks and concludes that the lack of agreement need not affect the subject-matter that the texts treat. A
The United States of America known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U. S. is the third most populous country. The capital is Washington, D. C. and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico; the State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean; the U. S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The diverse geography and wildlife of the United States make it one of the world's 17 megadiverse countries.
Paleo-Indians migrated from Siberia to the North American mainland at least 12,000 years ago. European colonization began in the 16th century; the United States emerged from the thirteen British colonies established along the East Coast. Numerous disputes between Great Britain and the colonies following the French and Indian War led to the American Revolution, which began in 1775, the subsequent Declaration of Independence in 1776; the war ended in 1783 with the United States becoming the first country to gain independence from a European power. The current constitution was adopted in 1788, with the first ten amendments, collectively named the Bill of Rights, being ratified in 1791 to guarantee many fundamental civil liberties; the United States embarked on a vigorous expansion across North America throughout the 19th century, acquiring new territories, displacing Native American tribes, admitting new states until it spanned the continent by 1848. During the second half of the 19th century, the Civil War led to the abolition of slavery.
By the end of the century, the United States had extended into the Pacific Ocean, its economy, driven in large part by the Industrial Revolution, began to soar. The Spanish–American War and World War I confirmed the country's status as a global military power; the United States emerged from World War II as a global superpower, the first country to develop nuclear weapons, the only country to use them in warfare, a permanent member of the United Nations Security Council. Sweeping civil rights legislation, notably the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the Fair Housing Act of 1968, outlawed discrimination based on race or color. During the Cold War, the United States and the Soviet Union competed in the Space Race, culminating with the 1969 U. S. Moon landing; the end of the Cold War and the collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. The United States is the world's oldest surviving federation, it is a representative democracy.
The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States, other international organizations. The United States is a developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for a quarter of global GDP; the U. S. economy is post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world. The United States is the world's largest importer and the second largest exporter of goods, by value. Although its population is only 4.3% of the world total, the U. S. holds 31% of the total wealth in the world, the largest share of global wealth concentrated in a single country. Despite wide income and wealth disparities, the United States continues to rank high in measures of socioeconomic performance, including average wage, human development, per capita GDP, worker productivity.
The United States is the foremost military power in the world, making up a third of global military spending, is a leading political and scientific force internationally. In 1507, the German cartographer Martin Waldseemüller produced a world map on which he named the lands of the Western Hemisphere America in honor of the Italian explorer and cartographer Amerigo Vespucci; the first documentary evidence of the phrase "United States of America" is from a letter dated January 2, 1776, written by Stephen Moylan, Esq. to George Washington's aide-de-camp and Muster-Master General of the Continental Army, Lt. Col. Joseph Reed. Moylan expressed his wish to go "with full and ample powers from the United States of America to Spain" to seek assistance in the revolutionary war effort; the first known publication of the phrase "United States of America" was in an anonymous essay in The Virginia Gazette newspaper in Williamsburg, Virginia, on April 6, 1776. The second draft of the Articles of Confederation, prepared by John Dickinson and completed by June 17, 1776, at the latest, declared "The name of this Confederation shall be the'United States of America'".
The final version of the Articles sent to the states for ratification in late 1777 contains the sentence "The Stile of this Confederacy shall be'The United States of America'". In June 1776, Thomas Jefferson wrote the phrase "UNITED STATES OF AMERICA" in all capitalized letters in the headline of his "original Rough draught" of the Declaration of Independence; this draft of the document did not surface unti