Archive for World Of Mathematics
March 24, 2010 at 5:03 am · Filed under World Of Mathematics
In typical bureaucratese, the pensive EBRD analyst ventures with the appearance of compunction: “A number of projects have fallen short of acceptable standards (notice the passive, exculpating voice - SV) and have put the reputation of the bank at risk”. If so, very little was risked. The outlandish lavishness of its City headquarters, the apotheosis of the inevitable narcissism of its first French Chairman (sliding marble slabs, motion sensitive lighting and designer furniture) - is, at this stage, its only tangible achievement. In the territories of its constituencies and shareholders it is known equally for its logy pomposity, the irrelevance of its projects, its lack of perspicacity and its Kafkaesque procedures. And where the IMF sometimes indulges in oblique malice and corrupt opaqueness, the EBRD wallows merely in avuncular inefficacy. Both are havens of insouciant third rate economists and bankers beyond rating.
Established in 1991, “it exists to foster the transition towards open market oriented economies and to promote private and entrepreneurial initiative in the countries of central and eastern Europe and the Commonwealth of Independent States (CIS) committed to and applying the principles of multiparty democracy, pluralism and market economics. The EBRD seeks to help its 26 countries of operations to implement structural and sectoral economic reforms, promoting competition, privatization and entrepreneurship, taking into account the particular needs of countries at different stages of transition. Through its investments it promotes private sector activity, the strengthening of financial institutions and legal systems, and the development of the infrastructure needed to support the private sector. The Bank applies sound banking and investment principles in all of its operations. In fulfilling its role as a catalyst of change, the Bank encourages co-financing and foreign direct investment from the private and public sectors, helps to mobilize domestic capital, and provides technical co-operation in relevant areas. It works in close co-operation with international financial institutions and other international and national organizations. In all of its activities, the Bank promotes environmentally sound and sustainable development.”
Grandiloquence aside, the EBRD was supposed to foster the formation of the private sector in the revenant wreckage of Central and Eastern Europe, the Balkan, Russia and the New Independent States. This it was mandated to do by providing finance where there was none (”bridging the gaps in the post communist financial system” to quote “The Economist”). Put more intelligibly, it was NOT supposed to transform itself into a long-term investment portfolio with equity holdings in most blue-chips in the region. Yet, this is precisely what it ended up becoming. It avoided project financing like the plague and met the burgeoning capital needs of small and medium size enterprises (SMEs) grudgingly. And it refuses to divest itself of stakes in the best run and most efficiently managed firms from Russia to the Czech Republic. In a way, it competes head on with other investors and commercial banks - often crowding them out with its subsidized financing.
One of its main mistakes, in a depressingly impressive salmagundi, is that it channelled precious resources to this budding sector (SMEs), the dynamo of every economy, through the domestic, decrepit, venal and politically manhandled banking system. The inevitable result was a colossal waste of resources. The money was allocated to sycophantic cronies and sinecured relatives (often one and the same) and to gigantic, state-owned or state-favoured loss makers. Most of it lay idle and yielded to its hosts a hefty income in arbitrage and speculation. As banks went bankrupt, they wiped whole portfolios of EBRD SME funds, theoretically guaranteed by even more bankrupt states.
Thus, the only segments of the private sector to benefit handsomely from the EBRD were lawyers and accountants involved in the umpteen lawsuits the EBRD is mired in. It is a growth industry in “countries” such as Russia. This is the melancholy outcome of indiscriminate, politically-motivated lending and of a lackadaisical performance as both lenders and shareholders. In the spirit of its first chairman, the suave and titivated Attali, the bank is in a constant road show, mortified by the possibility of its dissolution by reason of irrelevance. It aims to impress the West with its grandiose projects, mega investments, fast returns and acquiescence. In thus behaving, it is engaged in a perditionable perfidy of its fiduciary obligations. It lends to criminal managers, winking at their off-shore shenanigans and turning a blind eye to the scapegrace slaughter of minority shareholders. It throws good money after bad, cosies up to oligarchs near and far and engages in creative accounting. Instead of Westernizing the Easterners - it has been Easternized by them. Its sedentary though peregrinating employees are more adept at wining and at dining the high and mighty and at haughtily maundering in the odd, tangential, seminar - than at managing a banking institution or looking after the interests of their nominal shareholders with the tutelary solicitude expected of a bank.
Consider two examples:
Macedonia
The nascent private sector is nowhere to be found in the list of projects the EBRD so sagely chose to falter into here. The Electricity and Telecoms monopolies are prime beneficiaries as is the airport. The EBRD is also a passive shareholder in both big universal banks - until recently, conduits of state mismanagement. The SME and Trade Facilitation credit lines were conveniently divvied up among five domestic banks (one went belly up, the managers of two are under criminal investigation and one was sold to a Greek state bank). Despite vigorous protestations to the contrary, none of this money reached its proclaimed entrepreneurial targets. Two loans were made to giant local firms - the natural preserve of commercial lenders and equity investors the world over. The EBRD contributed nothing to the emergence of a management culture, to the development of proper corporate governance, to the safeguarding of property rights and the protection of minority shareholders here. Instead, it colluded in the perpetuation of monopolies, shoddy and shady banking practices, the pertinacious robbery titled “privatization” and the pretence of funding languishing private sector enterprises.
Russia
Its 2 billion US dollars portfolio all but wiped out in the August 1998 financial crisis, the EBRD has now returned with 700 million new Euros to be - conservatively but not more safely - lent in major energy and telecom behemoths.
The historic, pre-1998, portfolio appears impressive. Almost 11 billion US dollars were generated by the EBRD’s less than 4. The bottom line reads 94 projects. Yet, when one neutralizes the infrastructural ones (including the gas and energy sector) - one is left with less than 50% of the amount. Add “infrastructure-like” projects (water transportation and the like) - and less than 30% of the portfolio went to what can be called proper “private sector”. Moreover, even these investments and credits were geared towards traditional and smokestack industries: mining, food processing, pipelines, rubber and such. Not an entrepreneur in sight. And the EBRD’s meagre loan-loss provisions and reserves cast serious doubts regarding the mental state of both its directors and its auditors.
To varying degrees, these two countries are typical. Development banks, like industrial policy, import substitution and poverty reduction, have gone in and out of multilateral fashion several times in the last few decades. But there is a consensus regarding some minimum aims of such bureaucracy-laden establishments - and the EBRD achieves none. It does not encourage entrepreneurship. It does not improve corporate governance. It does not enhance property rights. It does not allocate economic resources efficiently. It competes directly with other - more desirable - financing alternatives. It is not equipped to monitor its vast and inert portfolio. By implication it collaborates in graft, tax evasion and worse. It is a waste of scarce resources badly needed elsewhere. It should be administered a coup de grace. And its marbled abode - so out of touch with the realities of its clients and its balance sheet - should be sold to someone more up to the task. A bank, for instance.
POST SCRIPTUM - Comments Made to “The Banker” - February 2002
This article was written afew years ago. I would not have written the same article today. The EBRD used to be pretty monolithic in its four orientations: pro-state companies, pro-big business (or mega projects), pro-governmental projects, and pro-commodities (mostly energy products).
It is now more open to SME financing - and not only as lip service.
Instead of colluding with venal, inefficient, crony-ridden, and decrepit local banking systems - it has taken over them in partnership with foreign investors. It has a more tangible in-field operating presence.
Its assets are more balanced (in maturity structures, single lender exposures, collateral portfolios, etc.). It is more innovative and creative in its collaboration with the private sector, offering a varied range of vehicles. In short: it is becoming more community orientated and less “commercially” conservative. It begins to fulfill its original charter of filling the gap between IFI’s and micro-lending. It is still hobbled by overweening political interventionism - but that is to be expected in a regional development bank (see the ADB, IADB, and so on).
Sam Vaknin ( samvak.tripod.com ) is the author of Malignant Self Love - Narcissism Revisited and After the Rain - How the West Lost the East. He served as a columnist for Global Politician, Central Europe Review, PopMatters, Bellaonline, and eBookWeb, a United Press International (UPI) Senior Business Correspondent, and the editor of mental health and Central East Europe categories in The Open Directory and Suite101.
Until recently, he served as the Economic Advisor to the Government of Macedonia.
Visit Sam’s Web site at samvak.tripod.com
March 9, 2010 at 4:56 am · Filed under Education, University of Science, World Of Mathematics
What is Algebra?
It is an area of mathematics that use alphabetic characters instead of numbers to derive results for a given situation. This abstraction is the very reason why most individuals find algebra scary and too difficult to handle and it is the same reasons why some students find it fun to play around with. topics of algebra range by working through simple tasks such as factoring polynomials and eventually progressing on to finding the product of matrices. In most cases, just as in any other mathematics oriented class, students begin by adding, subtracting and simplifying algebraic expressions . They then move on to understanding equivalent fractions, finding Least Common Multiples (LCM) and converting fractions to decimals.
Help!!! Exponents, Radicals and Graphing on the Way…
There are many higher level themes. First there are exponents. A power is the small number placed as superscript to a number or algebraic expression. An example is (x + y)3 where the 3 is the exponent and denotes the power to which that number is exponentiated. The above algebraic expression is read, x plus y to the third power. In working with exponents you can add, subtract, multiple or divide them. You can work with fractional and negative exponents. If that isn’t enough to make your head spin, then you can move on to radicals. A radical, in simple terms, is the undoing of an power. The V beside 4 denote a radical expression which means, the square root of 4, which equals 2. The inverse of “V” symbol is “^” which denotes that the number it refers to is a multiple of the principle number. Therefore, 2^2 which is read as 2 to the 2nd power, equals 4. Additionally, exponents can be added, subtracted, multiplied or divided by radicals. Radicals can be converted into exponents and powers back into radicals. If you find that powers and roots don’t really stimulate your interest, you could move on to graphing. The best way to start with graphing is to draw lines and try to figure out if they are horizontal, vertical or neither. Does the line have an x-intercept or a y-intercept? Can you find the slope of the line? you master the mathematical art of graphing, you will notice a whole new world filled with parabolas and hyperbolas.
Help is Available
While you are learning algebra if the terms and concepts seem too much to handle, relax and take a break. It’s time to look around because there exists a wide array of resources that is able to help you master the subject area. Look for math tutors or software applications that will walk you through stepwise process on how to solve any problem. Know that frustration is not your only friend because any of these instruments can assist you become an algebra guru in no time.
February 11, 2010 at 4:55 pm · Filed under Education, University of Science, World Of Mathematics
Algebra as a Scientific Subject Area
Algebra scientific discipline is the arm of mathematics that is interested in the study of structure, relation, and quantity. Algebra handles working with numbers, symbols, sets of elements and also vectors as in linear algebra. You can claim algebra as one of the most authoritative branches of mathematics, if not the most consequential. Algebra includes families such as Linear algebra, Universal algebra and Algebraic geometry.
Need Assistance in Studying Algebra?
Many software applications have come to the market in hope of facilitating students to develop the ability at solving algebraic problems . These programs cover nearly all algebra modules such as solving and graphing different types of non-linear equations, formulas and complex inequalities. Such equations like quadratic, simultaneous, exponential, radical and linear equations will be simply, quickly and efficiently solved using these software applications. These software most probably will contain an algebraic tutorial and a wizard too; Moreover, algebra calculators facilitate a lot of algebraic functions for students interested in mathematics.
Algebra in a Wider Scope
almost all students constantly wonder why we study algebra; they see no end of it. Well, if we were to talk about usefulness of algebra, then it has both direct and indirect benefits, which I think, algebra students should be educated on. The indirect benefit of studying algebra could be explained in working the learning ability in an organized model. As in the direct benefit, algebra has a mass of applications in different sciences and organizational streams.
In reality, algebraic applications are used around us, all the time such as in industries etc, for instance in information technology development or business forecasts. It is also used, in various science researches like physics, quantum mechanics, Informatics and even in the military; one such aspects which will be considered briefly in this article is the algebra applications in programming.
Algebra in Programming
Relational algebra constructs were the base for the relational database concept. Also, simple algebra was used in simulating of complex XML models and building XML database management systems. Moreover, we can pinpoint usage of algebra for ROM-based Procedural Language and ALF- Algebraic Logic Functioning programming language. Some other high-tech programming languages developed for the intent of solving algebraic problems as AML-Algebraic Modeling Language, where this language describes the complicated problem, such as compound optimization problems, then calls distinct external algorithms to solve the problem.
October 31, 2009 at 3:31 pm · Filed under Education, University of Science, World Of Mathematics
Algebra is one of the most fundamental sections of maths that is often presented to pupils in Jr. High. Many people find the concept of algebra a tough one to understand. It is actually an advanced form of math that takes the student through a study of structure, relation and quantity.
Common Methods Used in Algebra
In algebra you will often hear the term like variables. This is often used when adding and subtracting radicals . When adding or subtracting radicals the radicals essentially be the same order before you add or subtract them.
You can take the frustration out of finding the least common denominator by listing the multiples of each denominator and dividing by 2,3,4, and so on. After that you should look at the smallest number. An example is multiples of 5 are 10, 15, 20, 30. Multiples of 6 are 12, 18, 24, 30, and multiples of 15 are 30, 45, 60. So in this case, 30 (5 in to 6) is the smallest number which is common to both the lists.
You can easily simplify a fraction by finding a common factor in the numerator and denominator. A common factor is going to be a number that will equally divide into both numbers. As an example 3 is a common factor for 6 and 12. Three will equally divide into 6 and into 12. Two being a common factor for 4 and 14 is another example for this. You will repeat this same process until there are no common factors left. This can also be done by finding the GCF of both the numerator and the denominator. You will divide the numerator and the denominator by the greatest common factor instead of the common factor.
Getting Hang of Algebra
If you find yourself in trouble with algebra and can’t seem to find the solution you need. In this case, an algebra problem solver, typically a software, will be an perfect answer for getting aid. With one of these computer software system you will have the opportunity to input your figures and your problem will be solved right away in an informative manner (including the steps). Having access to an algebra problem solver can mean the difference in passing or failing. Most pupils cannot afford a tutor and they are rarely around when you need them anyway. With an algebra software system you will have access to the solutions you need, anytime you need them.
August 13, 2009 at 10:10 pm · Filed under Education, University of Science, World Of Mathematics
We can assert that Algebra is the center of math. An in depth knowledge of algebra and its basics is required before you could work on other mathematical problems. If someone asks you to calculate the product of 223 and 112, you can easily do it manually or with a computer. But when it comes to exponential (e) of 223 and logarithmic (log) of 112 then obviously, you will need some kind of algebraic calculating machine or algebra solver. Graphing a circle will be easy for this given formula X2 + Y2 = 4 but when it comes for an inequality like (X-2)2 + (Y-4)2 > 20 then it will be quite harder to plot the graph. In this situation algebra software package can help you a lot since you only need to enter the inequality and graph will be plotted within no time. These software packages can easily work out any kind of algebraic, arithmetical and radical expressions of any kind of complexity.
Domain and Range of a Function
Although, deriving the domain and range of a function such as Y = X2 can be easily found by considering the number range on the X-Y plane, defining the domain and range of a log(tan 2x + sin 3x) = cosine(-4)(2x) will be excessively difficult. But thanks to algebra calculators, you can now solve these complicated sums in very little time while being able to understand each and every step that it takes you to successfully solve the mathematical question.
Coordinate Geometry
It is now, easier than ever to find the vertex and directrix or whether a parabola opens up or down, using algebra software programs. Addition, subtraction and multiplication of polynomials are quite tedious, since they involve lots of terms to manipulate. But algebra calculator will do this job in much less time and with 100% accuracy. Solving determinants and matrices of 3×3 or 4×4 order can become very tough since it involves lots of calculation; getting inverse of matrices even more so. However using algebra calculating machines will make this task much simpler.
So now you need not to start worrying when you see indices, rational numbers or exponential equations. Parabolas, hyperbolas or ellipses can all be easily graphed within computer algebra systems.
July 7, 2009 at 11:04 am · Filed under Education, University of Science, World Of Mathematics
We can assert that Algebra is the center of math. An in depth knowledge of algebra and its basics is required before you could work on more complex mathematical problems. If someone asks you to get the product of 223 and 112, you can easily do it manually or with a computer. But when it comes to exponential (e) of 223 and logarithmic (log) of 112 then obviously, you will need some kind of algebraic calculating machine or algebra problem solver. Graphing a circle will be easy for this given formula X2 + Y2 = 4 but when it comes for an inequality like (X-2)2 + (Y-4)2 > 20 then it will be quite harder to plot the graph. In this situation algebra software program can help you immensely because once you enter the inequality in the program, the graph will get plotted automatically within no time. These kinds of software packages can easily work out any kind of algebraic, arithmetic and radical expressions of any kind of complexity.
Finding Domain and Range of a Function
Although, deriving the domain and range of a function such as Y = X2 can be easily found by considering the number range on the X-Y plane, defining the domain and range of a log(tan 2x + sin 3x) = cosine(-4)(2x) will be very difficult. But thanks to algebra calculators, you can now solve these complicated problems in no time while being able to comprehend every step of the way that it takes you to successfully work out the mathematical question.
Coordinate Geometry
It is now, easier than ever to find the vertex and directrix or whether a parabola opens up or down, using algebra software. Addition, subtraction and multiplication of binomials are quite uninteresting, since they involve lots of terms to manipulate . But algebra calculator will do this job in much less time and with 100% accuracy. Similarly, algebra calculators can save the trouble for you in calculating matrices of 33 or 44 order or its reverse matrices.
So now you need not to start worrying when you see indices, rational numbers or exponential equations. Parabolas, hyperbolas or ellipses can all be easily graphed within computer algebra systems.
May 23, 2009 at 12:41 am · Filed under Education, University of Science, World Of Mathematics
Algebra as a Science
Algebra is viewed as one of the fundamental arms of mathematics which explains how to deal with all situations involving numbers and variables. By Nature and historically, there is so much to say about teaching and studying of Algebra as a generalized arithmetic which goes through systematic mathematical processes such as induction, generalization and proof. So, the students get to enhance their mastery in algebra progressively, for example by getting the information from tutors or packages, which offer stepwise illustrative solutions. Algebra packages provide all the previously used approaches of Algebra learning with a new scientific touch to drive the information smoothly into the pupil’s heads. Many students don’t even know how very useful Algebra is! They complain about its impracticality neglecting that Algebra, broadly maths, instructs their mind how to think logically and correctly. The typical way to learn Algebra is in school, from being a kid till becoming an adult students get their information from the instructor. With the advancement of applied science, new techniques have been developed to learn Algebra, such as using computer software packages which is a more handy way to learn Algebra. It’s a kind of gradual tool to have the information delivered to pupil’s minds.
Areas Handled by Algebra
Same as any other subdivision of science, A lot of fields are covered by algebra including many theories and concepts. Gcf, or Greatest Common Factor , is one such concepts. Gcf means to rewrite the polynomial as a product of simpler polynomials or of polynomials and monomials. Other connected area is simplifying fractions which enables a person to get a simplified result. Quadratic function represents any function which is a solution of a quadratic polynomial. Among other primary elements of algebra, multiplying and dividing radicals is also one of the primary ones. An individual can multiply and divide with radicals only if the index, or root, is the same. Other connected areas are Adding and Subtracting Radicals; a person can add or subtract radical terms only if both the index and the radicand are the same. Matrix operations, another main areas of algebra which has a wide applicability when it comes to the real life, includes operations such as adding, subtracting, multiplying and dividing. Among other key areas are finding x-intercept of a line and y-intercept of a line - to get the x-intercept of a line, substitute zero for y in the equation and vice versa for finding y-intercept of a line.
March 20, 2009 at 5:28 pm · Filed under Education, University of Science, World Of Mathematics
Algebra as a Scientific Discipline
Algebra is thought as one of the essential branches of mathematics which explains how to deal with all situations involving numbers and variables. By Nature and historically, there is so much to articulate about teaching and learning of Algebra as a generalized arithmetic which goes through systematic mathematical operations such as induction, generalization and proof. So, the students get to develop their skills in algebra progressively, for example by getting the information from tutors or computer software programs, which provide step by step solutions. Packages designed for algebra learning provide all the available methods for solving specific problems with a techno logical touch . Many students don’t even know how very useful Algebra is! They complain about its impracticality ignoring that Algebra, broadly mathematics, teaches their mind how to think logically and correctly. The school is the most straight way of finding about algebra, from being a kid till becoming an adult pupils get their lessons from the teacher. With the enormous growth of engineering science, new techniques have been institutionalized to learn Algebra, such as using software programs which is a more handy way to learn Algebra. It s a kind of step-by-step tool to have the information delivered to scholar’s minds.
Areas Addressed by Algebra
Like most major sciences, A lot of domains are covered by algebra including many theories and constructs. Gcf, or Greatest Common Factor, is one such constructs. Gcf means to rewrite the polynomial as a product of simpler polynomials or of polynomials and monomials. Other related area is simplifying fractions which enables an individual to get a simplified result. Quadratic function represents any function which is a solution of a quadratic polynomial. Among other primary elements of algebra, multiplying and dividing radicals is also one of the main ones. An individual can multiply and divide with radicals only if the index, or root, is the same. Other associated areas are Adding and Subtracting Radicals ; an individual can add or subtract radical terms only if both the index and the radicand are the same. Matrix operations include adding, subtracting, multiplying and dividing. Other critical areas are finding x-intercept of a line and y-intercept of a line - to get the x-intercept of a line, substitute zero for y in the equation and vice versa for finding y-intercept of a line.
