Monday, May 25, 2020

Dr. Strangelove And The Cuban Missile Crisis - 1563 Words

Stanley Kubrick’s 1964 film â€Å"Dr. Strangelove or: How I learned to Stop Worry and Love the Bomb† and the Cuban Missile Crisis compare in different ways but also contrast each other in certain ways. The film by Stanley Kubrick was filmed in 1964 and was an older comedy film that almost mocks the Cold War fears of a nuclear conflict between the USSR and the United States. The Cuban Missile Crisis was the confrontation in October of 1962 between the United States and the Soviet Union established as a classic foreign policy crisis. Both the article and the film was all done in the 1960’s with the film being produced just in the middle of the Cuban Missile Crisis that was in the years of 1961-1963. Peoples thoughts today are all over the board on whether or not countries should be allowed to have nuclear weapons and if they can be trusted with them. Information about this all will be included in this paper. For the 1964 film â€Å"Dr. Strangelove or: How I learned to Stop Worry and Love the Bomb† shows a story that has a crazy United States Air Force general who orders all of his army to have a first strike nuclear attack on the Soviet Union going behind the presidents back without getting his approval. The film has two important characters which include the President of the United States and the United States Air Force general. The president has to work with the Russian leader so they can try and recall the bombers to prevent a nuclear disaster caused by the dropping of the atomicShow MoreRelatedEssay about Nuclear Power and the Cold War1094 Words   |  5 Pagesvia Cuban exile actors in Playa Girà ³n failed (Granieri, 2011). After Cuban intelligence agents obtained American information, in addition to warnings from Soviets, the United States faced national humiliation (Granieri, 2011). This sets the precedent for what came only a year later, in October 1962, when a conflict c alled the Cuban Missile Crisis occurred. In order to protect themselves from U.S. invasion, Cubans, with the aid of the Soviet Union, began to build MRBMs and IRBMs bases on Cuban territoryRead MoreDr. Strangelove Notes Essay864 Words   |  4 Pagesï » ¿Dr. Strangelove: Air Force General, Jack D. Ripper, orders his troops to attack a Soviet base. President Muffley brings in the Russian ambassador to the War Room General Turgidson doesn’t trust Ambassador de Sadesky. Thinks he is a spy. Russians have a doomsday device that will destroy the planet if they are attacked. General Turgidson wishes America had a doomsday device. ProQuest Document: On the Cuban Missile Crisis, â€Å"The situation would be even graver if there were any LeMayRead MoreEssay on The Cold War1121 Words   |  5 Pagesfeared the Soviets. Was this fear justified? What caused such intense fear? This is what this paper will explore. We will use the movie Dr. Strangelove and the book Blind Man’s Bluff to look at why it could have been justified and also at the reasons for why such fear came into being. We begin by analyzing why the irrational fear was justified. The movie Dr. Strangelove shows almost every aspect of Cold War mentality in the United States during that period. What amazes me is that the film was shown atRead MoreDr. Strangelove And The Cold War1997 Words   |  8 Pages The Cold War was a period from 1947 to 1991 that adhered erratic tension and constant threat of nuclear conflict between the two remaining superpowers that emerged from WWII, the U.S. and the Soviet Union. The 1964 film Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb, directed by Stanley Kubrick, depicts the overlying themes of the Cold War in a comedic fashion. This film’s full embodiment of the Cold War is seen through its representation of the time period, and the sheer competitivenessRead MoreDr. Strangelove And The Cold War1954 Words   |  8 PagesThe Cold War was a period of several decades of tension and the threat of nuclear conflict between the two remaining superpowers that emerged from WWII, the U.S. and the Soviet Union. The 1964 film Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb, directed by Stanley Kubrick, depicts the overlying themes of the Cold War in a comedic fashion. This film’s full embodiment of the Col d War is seen through its representation of the time period, and the sheer competitiveness betweenRead MoreDr. Strangelove4589 Words   |  19 PagesWhat I Learned Since I Stopped Worrying and Studied the Movie: A Teaching Guide to Stanley Kubrick s Dr. Strangelove Dan Lindley, University of Notre Dame ABOUT THE AUTHOR Dan Lindley is assistant professor in international relations and security studies at the University of Notre Dame. Lindley worked for several arms control and research organizations in Washington, D.C. before receiving a Ph.D. from MIT. Lindley has published and spoken on U.N. peacekeeping, internal conflict, the CyprusRead More Tales of a Strange Love in Dr. Strangelove Essay882 Words   |  4 PagesTales of a Strange Love in Dr. Strangelove   Dr. Strangelove , filmmaker Stanley Kubricks nuclear war satire, portrays Americas leaders as fumbling idiots and forces American viewers to question the ability of their government.   Dr. Strangeloves   cast explores the quirks and dysfunctional personality traits that a layperson would find far-fetched in a person of power.   The characters are diverse yet unified in their unfailing stupidity and naivete.   The films hysterical dialogue shedsRead MoreEssay on Satire and Black Humor in Dr. Strangelove1261 Words   |  6 PagesEven though Stanley Kubrick’s Dr. Strangelove, or: How I Learned to Stop Worrying and Love the Bomb screened in the midst of the sobering Cold War, critics were keen on praising the film for its mastery of humor applied to such a sensitive matter. The film is exceedingly loaded with metaphors, innuendos, and allusions that nothing can be left undissected or taken for face value; the resulting effect is understood to be part of Kubrick’s multifarious theme. Kubrick has stated that what began as aRead MoreDr. Strangelove s Argument For The 1964 Film Essay1358 Words   |  6 PagesCharles Maland’s argument for the 19 64 film Dr. Strangelove is that it was one of the most â€Å"fascinating and important American films of the 1960s.† He backs up his argument with evidence of the films rejection of the Ideology of Liberal Consensus, its attack on â€Å"crackpot realism† and critique of life in the 1960s Cold War era, and finally its paradoxical revolution that sets an example for other films to come after. The Ideology of Liberal Consensus according to Maland was explained as the UnitedRead MoreAnalysis Of Dr Strangelove By Stanley Kubrick Essay1800 Words   |  8 PagesDr Strangelove or: How I Learned to Stop Worrying and Love the Bomb, which I will be referring to as Strangelove, is a political satire directed by Stanley Kubrick that was released in 1964. The Film displays the absurdity of the Balance of Terror during the cold war and the ease of which a nuclear holocaust could occur, whilst also critiquing the absolute power of politicians whom have the means to enact one. Strangelove communicates these themes with its use of satire utilising comedic characters

Thursday, May 14, 2020

Response One to “Criteria of Negro Art” Essay - 717 Words

Response One to â€Å"Criteria of Negro Art† W. E. B. Dubois’s Criteria of Negro art leaves me with mixed feelings. At times I find his arguments compelling, at others bitter, dichotomous, and overly idealistic, yet throughout I find oftentimes found his prose refreshingly clear and at times even beautiful. In addition, the essay seems to have a sense of urgency to achieve a purity of expression, an external form to manifest the internal latent â€Å"Beauty in Black,† an ideal to my mind at least, reminiscent of the ancient Greeks who sought to emulate the metaphysical archetypes of truth, beauty, and goodness. Nevertheless, then as now, art is also business, fraught with financial constraints and racial biases to this day. While Dubois†¦show more content†¦So, while he seems to allow for such aesthetic dichotomy within himself, het appears to demand otherwise from artists of his own ethnic origins. The aforementioned are perhaps his most compelling arguments consist of the fact that, yes, race with its often concurrent circumstances, can and do limit options not only for the artist but art appreciation. Secondly, I think he is right when he relates the ultimate futility of materialism; however, I doubt that African-Americans, by virtue of the past, are any less susceptible to these phenomena than their white counterparts. Indeed, even when the United States elected an African-American President, while a turning point in American history, it didn’t automatically herald a Golden Age of enlightenment. If anything it was an anticlimax; it merely revealed that revealed people are not their skin colors; and that we still have the same issue no matter what race or gender resides in the oval office. Want to change the world? Every marketing company seems to know how, if they say that everyone who is â€Å"with it† has forsaken dial-up for high-speed internet, then sooner or later people will buy into that ethos and spend accordingly. Ditto: a product or service that vendors claim will improve how we or others perceive ourselves as individuals. As recentShow MoreRelatedRace Film : The Great And Only Essay10250 Words   |  41 PagesChapter One Race Films as a Genre in American Cinema â€Å"Most people pronounced his last name ‘Mee-show,’ though some who knew him insist it was ‘Mi-shaw.’ The correct pronunciation of his name is only the beginning of the ambiguities and mysteries associated with Oscar Micheaux† Patrick Mulligan—Oscar Micheaux: The Great and Only: The Life of America s First Black Filmmaker From the very beginning of the early stages in American cinema, African Americans had a presence on the silver screen. TheRead MoreBeloved By Toni Morrison : Politics Associated With The Historical Discourse Of Slavery And African American Culture1795 Words   |  8 Pagesthe hardship that slaves, ex-slaves, and people of African ancestry experienced during that time. Additionally, the words â€Å"lived† and â€Å"died,† reveals a pair of binary opposites, which is a distinguishing factor of racism. The article, â€Å"Color Coded Art Theory† written by cultural scholar Clyde Taylor argues, â€Å"Enlightenment preoccupation with ocularity, observation, classification, and stratification was synthesize within aesthetic reasoning through an assumed correspondence between appearance andRead MoreFactors Affecting the Academic Performance of the Third Year Education Students in Saint Joseph College of Canlaon6031 Words   |  25 Pagesvalues and attitudes toward th eir academic involvement. Definition of Terms Constitutive Definition: †¢ Factors- one that actively contributes to an accomplishments, results, or process †¢ Develop- to bring out the capabilities or possibilities of †¢ Study Habits- manner which you consistently use to study for school or college or even for the next day lesson. †¢ Students- describe as one who directs zeal at a subject. Student is used for anyone who is learning. Operational Definition: †¢ Factors-Read MoreCoco Energy Drink14921 Words   |  60 Pagespracticing healthy eating habits. With the proliferation of diseases previously unheard of and the progression of already identified ones into more life-threatening strains, the adage â€Å"prevention is better than cure† has become a mantra among individuals wishing to preserve the well-being of their bodies. The natural products health industry is a very lucrative one. In 2008, it expanded by 8% to $270B despite the economic downturn that rocked many industries. The industry is still on the riseRead MoreEssay Paper84499 Words   |  338 Pagesthe confidentiality of survey responses; adds requirement to provide inconspicuous location to submit paper and pencil format; provides guidance on group versus individual reporting (para E-2). o Deletes the tools used for obtaining the command climate surveys (para E-5). o Adds requirement for survey administrator and data collector to protect respondent anonymity and results confidentiality; adds exceptions to the confidentiality of survey responses; prohibits collection of personally Read MoreBed And Breakfast Of Indi Emerging Opportunities10452 Words   |  42 Pages Bed and Breakfast in India - Emerging Opportunities BY: Dr. GG Saxena Chapter – One Introduction to the concept of Bed and Breakfast stay Hotel’s stays followed by other accommodation are essential for a traveler visit. This gave rise to a new concept known as Bread and Breakfast. The term Bed and Breakfast first evolved in England, Scotland and Ireland whereas terms such as paradors, pensions, gasthaus, minskukus, shukukos and pousados have been widely used by various Americans and EuropeansRead MoreRastafarian79520 Words   |  319 Pages676—dc21 2002074897 v To Donnaree, my wife, and Donnisa, my daughter, the two persons around whom my life revolves; and to the ancestors whose struggles have enabled us to survive and thrive This page intentionally left blank Foreword One of the most useful things about Ennis Edmondss Rastafari: From Outcasts to Culture Bearers is that it correctly traces the connection between the emergence of Rastafarianism and the history of resistance and black consciousness that has been partRead MoreThe Censorship of Art Essay example14698 Words   |  59 PagesThe Censorship of Art While the censorship of art is not a new phenomenon, recent years have witnessed renewed and intensified attempts to control popular culture. In particular, rap and rock music have come under increasing attack from various sides representing the entire left and right political spectrum, purportedly for their explicit sexual and violent lyrical contents. In this paper is investigated which moral codes underlie these claims against popular music, how social movements mobilizeRead MoreUGT in the 21st Century14999 Words   |  60 Pagesnewspaper. Still others credit the UG perspective with Schramm’s (1949) immediate reward and delayed reward model of media gratifications (Dozier Rice, 1984). Regardless, early UG studies were primarily descriptive, seeking to classify the responses of audience members into meaningful categories (Berelson, Lazarsfeld, McPhee, 1954; Katz Lazarsfeld, 1955; Lazarsfeld, Berelson, Gaudet, 1948; Merton, 1949). Most scholars agree that early research had little theoretical coherence and was Read MoreApa Style Lite for College Papers15275 Words   |  62 Pagestables from a journal article or book chapter, single text extracts of fewer than 400 words, or a series of text extracts that total fewer than 800 words without requesting formal permission from APA† (APA, 2009, p. 173). APA Lite meets these fair use criteria. You are welcome to print, link, or distribute APA Style Lite for College Papers for notfor-profit educational purposes. Instructors are encouraged to use the guide in their classrooms. No additional permission is required. APA Lite is revised on

Wednesday, May 6, 2020

The Death Star Space Station - 1475 Words

he original trilogy begins with the Galactic Empire nearing completion of the Death Star space station, which will allow the Empire to crush the Rebel Alliance, an organized resistance formed to combat Emperor Palpatine s tyranny. Palpatine s Sith apprentice Darth Vader captures Princess Leia, a member of the rebellion who has stolen the plans to the Death Star and hidden them in the astromech droid R2-D2. R2, along with his protocol droid counterpart C-3PO, escapes to the desert planet Tatooine. There, the droids are purchased by farm boy Luke Skywalker and his step-uncle and aunt. While Luke is cleaning R2, he accidentally triggers a message put into the droid by Leia, who asks for assistance from the legendary Jedi Knight Obi-Wan Kenobi. Luke later assists the droids in finding the exiled Jedi, who is now passing as an old hermit under the alias Ben Kenobi. When Luke asks about his father, whom he has never met, Obi-Wan tells him that Anakin Skywalker was a great Jedi who was betr ayed and murdered by Vader.[27] Obi-Wan and Luke hire the smuggler Han Solo and his Wookiee co-pilot Chewbacca to take them to Alderaan, Leia s home world, which they eventually find has been destroyed by the Death Star. Once on board the space station, Luke and Han rescue Leia while Obi-Wan allows himself to be killed during a lightsaber duel with Vader; his sacrifice allows the group to escape with the plans that help the Rebels destroy the Death Star. Luke himself (guided by the power ofShow MoreRelatedThe Science Fiction Tale The Last Question 1399 Words   |  6 Pagesthese surrogates are pure energy beings that can effortlessly roam the distant reaches of space, past exploding stars, colliding galaxies, and other wonders of the universe. But no matter how powerful humanity has become, it is helpless as it witnesses the ultimate death of the universe itself in the Big Freeze. In desperation, humanity constructs a supercomputer to answer the final question: Can the death of the universe be reversed? The computer is so large and complex that it has to be placedRead MoreThe Big Bang Theory1488 Words   |  6 Pagesâ€Å"Where do we come from†. Many have thought of elaborate reasons or explanations to answer this including what we know as Ancient mythology and, to some, modern religion. As society progresses in the field of science, and we expand our knowledge of space these â€Å"explanations† hold less veracity. We now have intelligent explanations for things like waves, the sun, orbits, why the sky is blue, and evolution. These questions have led us to the brink of our knowledge, which ends with the â€Å"Big Bang Theory†Read MoreStar Wars: a New Hope816 Words   |  4 PagesCritique Star Wars: A new hope A long.long time ago, in a galaxy far, far awayÂ…. These short, simple words have influenced generations. Novices and Star Wars fans alike have enjoyed and thrived on these inventive movies. The writer and director, George Lucas, came up with the idea during his years at the University of California. He came up with a six part series, yet, the first movie to be produced was part four entitled Star Wars: A new hope. It was produced in 1977Read MoreGravity Movie Review872 Words   |  4 Pageseffects in the best possible way; Gravity will serve as the benchmark for excellence in space thrillers for years to come. The opening sequence transfixes viewers with a beautiful, almost ethereal wide shot of Earth from the view of space, and slowly moves in toward three dots that turn out to be the full cast of the film (really). Sandra Bullock plays Dr. Stone, a reluctant Astronaut on a singular mission to space with just six months of NASA training under her belt. On the other end of the spectrumRead MoreStar Wars : A New Hope1253 Words   |  6 PagesHollywood film industry, music has played a great role in the success of Hollywood films. Star Wars: A New Hope, commonly considered one of the greatest films of all time, launched the space era craze backed by lovely and memorable music. John Williams created the musical score of Star Wars, reviving the grand symphonic scores from the early film era with the leitmotif inspired by the works of Wagner and Steiner. Star Wars: A New Hope is a film with a successful storyline, inspiring characters, and amazingRead More The Star Wars Trilogy Essays800 Words   |  4 Pages The Star Wars Trilogy nbsp;nbsp;nbsp;nbsp;nbsp;The First of the three part series, Star Wars, is the tale of a band of heros who team together for the good of the universe and the money. The story begins as Princess Leia is held hostage by the Galactic empire in order to crush the rebellion against them. During the attack on Leias ship two droids, R2-D2 and C-P30, escape through an escape pod. They landed on a foreign planet and were captured and sold to their new master Luke Skywalker.Read MoreUtopia Z Essay2908 Words   |  12 Pagesthe Hospital Dome. nbsp;nbsp;nbsp;nbsp;nbsp;The Recreation Dome is filled with different activities, such as artificial ski-mountains, a swimming pool, and amusement park, an ice arena, a playground, a football field/track, a bungee jumping station, and a large field for miscellaneous activities. nbsp;nbsp;nbsp;nbsp;nbsp;One of the biggest attractions in this dome, is the artificial ski- mountains. These mountains are constructed with sturdy steel frames, and with artificial snow. ThisRead MoreAnalysis Of David Bowie s Space Oddity1425 Words   |  6 Pagesfirst glance, David Bowie s Space Oddity would seem to be a patriotic theme song for the soon-to-be-launched Apollo 11 mission. While such assumptions would be fairly based considering the BBC used the song in its coverage of the moon landing, Space Oddity is much more profound and metaphorical in meaning. As it was actually written, this song provides a view into the artist s rise to fame, drug problems, and changing perspective on the world. In order to understand Space Oddity on a deeper levelRead MoreShort Story1117 Words   |  5 Pagesemergency collision alert. â€Å"Emergency Release Initiated,† the monotone voice announced. Rowland felt the restraints release as the rest of the life systems shut down and pulled away into standby positions. The cruiser continued to spin as the stars outside his window looked like swirling lines of light. Three steps turned into a mess of tumbling and slamming into the control panel. He felt his hand graze along the panel, pushing a couple of the flashing lights off just as an alarm started blaringRead MoreShould The United States Attempt A Manned Mission?927 Words   |  4 Pagesaverage star we call the Sun, the planets Mercury, Venus, Earth, Mars, Jupiter, Saturn, Uranus, Neptune, and Pluto. In addition, Mars is a planet that the National Aeronautics and Space Administration (NASA) have taken an interest upon. The appeal of Mars leads us into a controversial question which is â€Å"Should the United States attempt a manned mission to Mars?† This question was proposed by George Bush in his 2001-09 presidencies (â€Å"Mars Exploration†). His plan is to establish a space station on Mars

Tuesday, May 5, 2020

Effect of Washington Consensus Upon Emerging Market free essay sample

Washington Consensus implemented by emerging markets refers to economic policies created by John Williamson (Hooper, 2002; Rodrik, 2006). It is based on financial liberalization theory of McKinnon and Shaw, which emphasis on freeing financial markets from government intervention. Financial liberalization theory assumed perfect financial markets with perfect information, perfect competition and depends on institution-free analysis (Demetriades, 1999). These assumptions are irrelevant in the sense that market, as a whole is imperfect. Despite these deficiencies, emerging countries agree to implement Washington Consensus requested by International Monetary Policy (IMF) and World Bank as part of their loan contracts. According to Washington Consensus, emerging economies facing similar problems with developed markets should be treated with the same tools. Washington Consensus aims to encourage privatization with high level of economic openness. There are many criticisms regarding the policies content of Washington Consensus. Some critics argue that the policies are not being devised in a sequentially correct manner and did not consider emerging markets’ development stage (Hooper, 2002). There are several impacts of the implementation of Washington Consensus upon the emerging capital markets namely worsen economic growth and increase stock market’s volatility. Implementation of the Washington Consensus through financial liberalization has affected economic growth of emerging capital markets. Financial liberalization is developed in the objective of improving economic growth by encouraging saving, investment and capital productivity. Before financial liberalization is introduced, many developing countries encounter financial repression, which is the process where government intervenes in the economy (Demetriades, 1999). In 1960s and 1970s, government intervention was needed to control pegged exchange rates under Bretton-Wood regime. Government controlled the markets by allocating high reserve requirement, interest rates ceiling, and controlling capital, credit as well as exchange rate. These interventions led to disequilibrium in interest rate, for example, interest rates were below equilibrium level (Hooper, 2002). In order to curb the problem, financial liberalization is introduced, for instance, by setting higher interest rates. High interest rates were aimed to encourage savings, which will attract investment through borrowing and thus improved economic growth. Unfortunately, financial liberalization did not result in greater savings instead high interest rate can destroy reformation in real sector (Hooper, 2002). In addition, financial liberalization exacerbates economic growth in the sense that ratio of reserves to foreign denominated short-term indebtedness had declined substantially (Stiglitz, 2000). Washington Consensus suggests emerging capital markets to deregulate their economies in order to achieve economic growth. However, lack of comprehensive regulation has led to Asian Financial Crisis in 1997. Moreover, dampen economic growth during Asian Financial Crisis came from maturity and currency mismatch. For example, long-term investment in local currency financed short-term liabilities in dollars. Besides, Washington Consensus did not emphasis on capital flow structure in liberalizing capital flows. Many emerging capital markets destabilized due to high level of capital flows. In Latin America (1980), economic crisis was a result of cash flow structuring problem with the increase in portfolio equity to replace portfolio debt. Asian Financial Crisis 1997 has been deteriorated due to regular flows of money between financial markets. This term hot money will flow from countries with low return to countries with the highest interest rates as banks attempt to get highest return as possible. These flows can affect balance of payments if exchange rates in the total is high (Hooper, 2002). Thus, Washington Consensus worsens economic growth of emerging capital markets. Volatility of stock markets is also affected by the implementation of Washington Consensus. Financial liberalization lead emerging capital markets to more volatility. This is because financial liberalization encourages deregulation, and liquidity, which are the components enhancing volatility. It also goes for taxation as lower taxes lead to volatility. Since liberalize markets usually have lower market concentration, volatility will also increase (Hooper, 1998). Moreover, increasing portfolio equity flows increasing volatility of stock markets (Hooper, 2002). These situations reduce the attractiveness of investing in emerging stock markets (Stiglitz, 2000). Besides, stock markets’ volatility will be exasperated when there is no sufficient accounting disclosure since investors are not able to make informed judgment about the firm. However, financial liberalization did not improve accounting disclosure and structure of governance (Hooper, 2002). There is negative relationship between quality of accounting system and volatility of stock market. Poor accounting system lead to higher market volatility. Moreover, Washington Consensus policy of deregulation has also intensified volatility of stock market (Hooper, 1998; Hooper, 1998). In addition, financial liberalization increased volatility of stock markets with changes in outside country. Since, emerging markets seemed risky, investors are discouraged to invest in the markets. Thus, results in large capital outflows (Stiqlitz, 2000). However, in the long run, volatility of emerging stock markets is improving as they liberalize. International investors find investing in emerging markets are profitable since their risk-return of overall portfolio improved. Investing in emerging stock market lead to diversification of risk, as there is low correlation with other markets (Hooper, 1998). Despite that, implementation of Washington Consensus in emerging capital markets lead to volatile stock market especially in the short-term cycle. There are several ways for IMF and World Bank to conduct policy in developing countries. One of the ways is IMF and World Bank have to make sure that Washington Consensus policies are implemented in correct sequencing manner (Hooper, 2002). For example, financial sector should be reformed after regulatory and bank supervision are restructured and after real sector has been reformed. IMF and World Bank should also encourage developing countries to review and comprehend their regulation system since deregulation can harm economic growth (Hopper, 2002). Furthermore, fortifying securities and accounting regulation help reduce volatility (Hooper, 1998) by implementing framework and policies like fiscal policy, which represent the countries stock markets’ volatility. Besides, IMF and World Bank should bequest emerging countries to be more transparent in accounting disclosure and adopt good governance structure. For example, companies with poor governance are required to pay high return to investors. To reduce the premium, corporation should lessen information asymmetry by increasing accounting disclosure. Thus, cost of equity is lowered since investors are more aware about the firms’ cash flow. Moreover, accounting disclosure overcomes capital flows problem while clear securities framework helps lower volatility. Accounting disclosure should improve so that firms are abled to be monitored and controlled by government (Hooper, 2002). In addition, higher interest rates in emerging capital markets leads to adverse selection and moral hazard problem. Adverse selection normally occurs when interest rates are high as borrowers invest in extremely risky investment without lenders’ knowledge. While moral hazard arises when borrowers invest in projects they had not agreed to. This can lead to increase in cost of borrowing for other borrowers. Thus, encouraging accounting disclosure helps to reduce adverse selection and moral hazard. For example, Thailand and South-East Asian faced moral hazard due to deficient accounting disclosure and comprehensive regulation (Hooper, 2002). Besides, transparent information helps heal economic growth through effective resource allocation (Stiglitz, 2000). IMF and World Bank should also emphasis on binding constraints on economic growth by finding ways to correct the constraints. It is important for an economy to use the appropriate tools in reducing the constraints. For instance, reforming financial intermediaries will not improve investment with poor property rights. Thus, binding constraints have to be evaluated (Stiglitz, 1998). In conclusion, implementing Washington Consensus in emerging capital markets is not efficient. It deteriorated economic growth of many developing countries; for instance, East Asian and Latin America were in bad financial crisis. Moreover, the liberalization process also affects stock market of emerging countries by exacerbating stock markets’ volatility. Thus, International Monetary Fund and World Bank have to play their role by setting up efficient policies in order to curb problems arise from the implementation of Washington Consensus as well as improving the economy of emerging countries. REFERENCE LISTS * Demetriades, P 1999, ‘Financial liberalization: the experience of developing countries’, Eastern Economic Journal, vol. 25, no. 4, pp. 441-457. Hooper, V 1998, ‘Volatility and openness of emerging stock markets: some empirical evidence’, Emerging Capital Markets: Financial and Investment Issues, pp. 35-45. * Hooper, V 2002, ‘The Washington Consensus and Emerging Economies’, pp. 1-14. * Rodrik, D 2006, ‘Goodbye Washington Consensus, hello Washington Confusion’, pp. 1-28. * Stiglitz, J 1998, ‘More instruments and broader goals: moving toward the Post–Washington Consensus’, pp. 1-46. * Stiglitz, JE 2000, ‘Capital market liberalization, economic growth, and instability’, World Development, vol. 28, no. 6, pp. 1075-1086.