Month: March 2020

Nihilism

Nihilism (/ˈnaɪ(h)ɪlɪzəm, ˈniː-/; ) is the point of view, or philosophy, antithetical to the reputedly meaningful aspects of life. Most commonly, nihilism is presented in the form of existential nihilism, which argues that life is without objective meaning, purpose, or intrinsic value.[1] Moral nihilists assert that morality does not exist at all. Nihilism may also take epistemological, ontological, or metaphysical forms, meaning respectively that, in some aspect, knowledge is not possible, or reality does not actually exist.

The term is sometimes used in association with anomie to explain the general mood of despair at a perceived pointlessness of existence that one may develop upon realising there are no necessary norms, rules, or laws.[2]

Nihilism has also been described as conspicuous in or constitutive of certain historical periods. For example, Jean Baudrillard and others have called postmodernity a nihilistic epoch[3] and some religious theologians and figures of religious authority have asserted that postmodernity[4] and many aspects of modernity[5] represent a rejection of theism, and that such rejection of theistic doctrine entails nihilism.

https://en.wikipedia.org/wiki/Nihilism

Bretton Woods system

The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western European countries, Australia, and Japan after the 1944 Bretton Woods Agreement. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent states. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained its external exchange rates within 1 percent by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments. Also, there was a need to address the lack of cooperation among other countries and to prevent competitive devaluation of the currencies as well.

U.S. Trade Balance (1895–2015) and Trade Policies.png

Preparing to rebuild the international economic system while World War II was still raging, 730 delegates from all 44 Allied nations gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire, United States, for the United Nations Monetary and Financial Conference, also known as the Bretton Woods Conference. The delegates deliberated during 1–22 July 1944, and signed the Bretton Woods agreement on its final day. Setting up a system of rules, institutions, and procedures to regulate the international monetary system, these accords established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which today is part of the World Bank Group. The United States, which controlled two thirds of the world’s gold, insisted that the Bretton Woods system rest on both gold and the US dollar. Soviet representatives attended the conference but later declined to ratify the final agreements, charging that the institutions they had created were “branches of Wall Street”.[1] These organizations became operational in 1945 after a sufficient number of countries had ratified the agreement.

On 15 August 1971, the United States unilaterally terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency.[2] At the same time, many fixed currencies (such as the pound sterling) also became free-floating.

https://en.wikipedia.org/wiki/Bretton_Woods_system

charge (n.)

c. 1200, “a load, a weight,” from Old French charge “load, burden; imposition,” from chargier “to load, to burden,” from Late Latin carricare “to load a wagon or cart,” from Latin carrus “two-wheeled wagon” (see car). A doublet of cargo.

Meaning “responsibility, burden” is from mid-14c. (as in take charge, late 14c.; in charge, 1510s), which progressed to “pecuniary burden, cost, burden of expense” (mid-15c.), and then to “price demanded for service or goods” (1510s). Meaning “anything committed to another’s custody, care, or management” is from 1520s.

Legal sense of “accusation” is late 15c.; earlier “injunction, order” (late 14c.). Meaning “address delivered by a judge to a jury at the close of a trial” is from 1680s. Electrical sense is from 1767. Slang meaning “thrill, kick” (American English) is from 1951. Meaning “quantity of powder required for one discharge of a firearm” is from 1650s. Military meaning “impetuous attack upon an enemy” is from 1560s; as an order or signal to make such an attack, 1640s.

charge (v.)

early 13c., “to load, put a burden on or in; fill with something to be retained,” from Old French chargier “to load, burden, weigh down,” from Late Latin carricare “to load a wagon or cart,” from Latin carrus “two-wheeled wagon” (see car).

Senses of “entrust,” “command,” and “accuse” all emerged in Middle English and were found in Old French. Sense of “rush in to attack, bear down upon” is from 1560s, perhaps through earlier meaning “load a weapon” (1540s). Meaning “impose a burden of expense” is from mid-14c. That of “to fix or ask as a price” is from 1787; meaning “hold liable for payment, enter a debt against” is by 1889. Meaning “fill with electricity” is from 1748. Related: Charged; charging.

demand (n.)

late 13c., demaunde, “a question,” from Old French demande, from demander “to request; to demand” (see demand (v.)). Meaning “a request, a claim, an asking for by virtue of a right or supposed right to the thing sought,” also “that which is demanded or required, exaction as a tribute or concession,” without reference to right, is from c. 1300.

In the political economy sense of “desire to purchase and possess, coupled with the means to do so” (correlating to supply) it is attested from 1776 in Adam Smith. Meaning “state of being sought after” (especially by consumers) is from 1711. In demand “much sought after” is attested by 1825; on demand “on being requested” is from 1690s.

demand (v.)

late 14c., demaunden, “ask questions, make inquiry,” from Old French demander (12c.) “to request; to demand,” from Latin demandare “entrust, charge with a commission” (in Medieval Latin, “to ask, request, demand”), from de- “completely” (see de-) + mandare “to order” (see mandate (n.)).

Meaning “ask for with insistence or urgency” is from early 15c., from Anglo-French legal use (“to ask for as a right”). Meaning “require as necessary or useful” is by 1748. Related: Demanded; demanding.

require (v.)

late 14c., “to ask a question, inquire,” from Old French requerre “seek, procure; beg, ask, petition; demand,” from Vulgar Latin *requaerere, from Latin requirere “seek to know, ask,” from re-, here perhaps meaning “repeatedly” (see re-), + quaerere “ask, seek” (see query (v.)).

The original sense of this word has been taken over by request (v.). Sense of “demand (someone) to do (something)” is from 1751, via the notion of “to ask for imperatively, or as a right” (late 14c.). Related: Required; requiring.

cancel (v.)

late 14c., “cross out with lines, draw lines across (something written) so as to deface,” from Anglo-French and Old French canceler, from Latin cancellare “to make like a lattice,” which in Late Latin took on especially a sense “cross out something written” by marking it with crossed lines, from cancelli, plural of *cancellus (n.) “lattice, grating,” diminutive of cancer “crossed bars, a lattice,” a variant of carcer “prison” (see incarceration).

Figurative use, “to nullify (an obligation, etc.)” is from mid-15c. Related: Canceled (also cancelled); cancelling.

clandestine (adj.)

“secret, private, hidden, furtive,” 1560s, from Latin clandestinus “secret, hidden,” from clam “secretly,” from adverbial derivative of base of celare “to hide” (from PIE root *kel- (1) “to cover, conceal, save”), perhaps on model of intestinus “internal.” Related: Clandestinely. As a noun form, there is awkward clandestinity (clandestineness apparently being a dictionary word).