Cyclical Economic Development in The Economic History Essay

Cyclical Economic Development in The Economic History - Essay Example This paper analyses the process of economic growth, which emerges from and as a consequence of cyclical development. In the 19th century, business cycles were not thought of as cycles at all but rather as spells of crises interrupting the smooth development of the economy. In later years, economists and non- economists alike began believing in the regularity of such crises, analyzing how they were spaced apart and associated with changing economic structures. Schumpeter (1939) suggested that the economic development proceeds cyclically rather than evenly because innovations are not evenly distributed through time, but appear, if at all, discontinuously in groups or swarms. Schumpeter identified the "four-phases" of a cycle. Starting from the mean, a boom is a rise which lasts until the peak is reached; a recession is the drop from the peak back to the mean; a depression is the slide from the mean down to the trough; a recovery is the rise from the trough back up to the mean. From the mean, we then move up into another boom and thus the beginning of another four-phase cycle. In a sense, any cycle of whatever duration can be described as going through these four phases - otherwise the fluctuations cannot be described as "cycles". Empirical evidence shows that throughout the 19th Century, the price level moved backward and forward heavily while output was much less subject to fluctuations. The following four Kondratiev waves (ranging between 48-60 years) have been identified - going through four phases of boom-recession- depression-recovery : (1) The Industrial Revolution (1787-1842), (2) The Bourgeois Kondratiev (1898-1950), (3) The Neo-Mercantilist Kondratiev (1898-1950): and (4) The Fourth Kondratiev (1950- 2010).

Investigate the design of Lighting Systems, Electrical Energy Essay

Investigate the design of Lighting Systems, Electrical Energy Management and Tariffs - Essay Example This is done when the consumption is less and proper and no wastage of energy is there. The lamps and other devices should be of proper rating and proper standard. The design should be such that required illumination is obtained in a least possible cost. a) Fluorescent Lamp :- The basic construction of this type of lamp is that it has a discharge tube made up of glass. There are two electrodes at both the ends. This tube contains gases at certain pressure which on ionization emits light. The fluorescent powder is coated at both inside and outside the tube. The electrodes at both the ends are coated with some electron emitting material. A choke coil is connected in series with the lamp to stabilize current. One capacitor is also connected to compensate the power factor. This lamp emits white colour and widely used in homes, offices and shops. b) Electric Discharge Lamp :- These were the first type of lamps that were used. In these type of lamps there is a discharge tube in which two electrodes are connected to both ends and excited by electric source. The gas inside the tube gets ionized and emits light. There are various types of electric discharge lamps namely sodium vapour lamp and mercury vapour lamp. c) Filament Lamp :- In this lamp a fine filament is connected to the electrodes and excited which emits light. The construction of these kinds of lamps is very simple. Earlier fine carbon was used as element in these lamps later on tungsten was preferred in place of carbon. Principle of good lighting While designing lighting system following considerations should be done. 1) Proper illumination level :- This is the major factor because for proper vision the brightness of the object should be proper which depends on illumination level. Degree of illumination depends upon some factors like size of the object, distance from the observer, object background contrast. There are some standards made by ISI for illumination level in various parts of he building. For street lighting also some standards are made. Table below shows some average value of illumination level. Places Illumination level Heavy Traffic routes 30 Average traffic routes 15 Secondary roads with local traffic 8 Secondary roads with light traffic 4 2) Uniform Illusion :- The vision of eye depends on the brightness of the object. If the uniformity of light is there the eye has to adjust more. This will cause fatigue. The method to achieve uniform illumination Generalized light should also be employed with local light. 3) Colour of light :- The brightness of any object basically depends on colour of light falling on it. The composition of light should