GDP
GDP per capita is often used as an indicator of standard of living in an economy. While this approach has advantages, many criticisms of GDP focus on its use as an indicator of standard of living.
The major advantages to using GDP per capita as an indicator of standard of living are that it is measured frequently, widely and consistently; frequently in that most countries provide information on GDP on a quarterly basis (which allows a user to spot trends more quickly), widely in that some measure of GDP is available for practically every country in the world (allowing crude comparisons between the standard of living in different countries), and consistently in that the technical definitions used within GDP are relatively consistent between countries, and so there can be confidence that the same thing is being measured in each country.
The major disadvantage of using GDP as an indicator of standard of living is that it is not, strictly speaking, a measure of standard of living. GDP is intended to be a measure of particular types of economic activity within a country. Nothing about the definition of GDP suggests that it is necessarily a measure of standard of living. For instance, in an extreme example, a country which exported 100 per cent of its production would still have a high GDP, but a very poor standard of living.
The argument in favour of using GDP is not that it is a good indicator of standard of living, but rather that (all other things being equal) standard of living tends to increase when GDP per capita increases. This makes GDP a proxy for standard of living, rather than a direct measure of it. GDP per capita can also be seen as a proxy of labor productivity. As the productivity of the workers increase, employers must compete for them by paying higher wages. Conversely, if productivity is low, then wages must be low or the businesses will not be able to make a profit.
There are a number of controversies about this use of GDP.
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Gold medal
Olympic Games
Without qualification, the term is likely to refer to a winner's prize at the modern Olympic Games (medals were not awarded at the ancient games). In 1896, winners' medals were in fact silver. The custom of gold-silver-bronze for the first three places dates from the 1904 games and has been copied for many other sporting events. Minting the medals is the responsibility of the host city. From 1928-1968 the design was always the same: the obverse showed a generic design by Florentine artist Giuseppe Cassioli with text giving the host city; the reverse showed another generic design of an Olympic champion. From 1972-2000, Cassioli's design (or a slight reworking) remained on the obverse with a custom design by the host city on the reverse. Noting that Cassioli's design showed a Roman amphitheatre for what was originally a Greek games, a new obverse design was commissioned for the Athens 2004 Games. Winter Olympics medals have been of more varied design. The silver and bronze medals have always borne the same designs.
Most gold medals (including Olympic gold medals) are gold-plated, exceptions being the Congressional Gold Medal and Nobel Prize winners' medals, which are solid gold.
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Jewelry
Most cultures have at some point had a practice of keeping large amounts of wealth stored in the form of jewellery. Numerous cultures move wedding dowries in the form of jewelry, or create jewelry as a means to store or display coins. Alternatively, jewellery has been used as a currency or trade good; a particularly poignant example being the use of slave beads.
Functional use dates back to the earliest days of jewellery; indeed, many items of jewellery, such as brooches and buckles originated as purely functional items, but evolved into decorative items as their functional requirement deminished.[2]
Jewellery can also be symbolic of group membership, as in the case of the Christian crucifix or Jewish Star of David, or of status, as in the case of chains of office, or the Western practice of married people wearing a wedding ring.
Wearing of amulets and devotional medals to provide protection or ward off evil is nearly universal; these may take the form of symbols (such as the ankh), stones, plants, animals, body parts (such as the Khamsa), or glyphs (such as stylized versions of the Throne Verse in Islamic art).[3]
Although artistic display has clearly been a function of jewellery from the very beginnings, the other roles described above tended to take primacy. It was only in the late 19th century, with the work of such masters as Peter Carl Fabergé and René Lalique, that art began to take primacy over function and wealth. This trend has continued into modern times, expanded upon by artists such as Robert Lee Morris.
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Jewellery
Art Nouveau
In the 1890s, jewellers began to explore the potentials of the growing Art Nouveau style. Very closely related were the German Jugendstil, British (and to some extent American) Arts and Crafts movement. René Lalique, working for the Paris shop of Samuel Bing, was recognized by contemporaries as a leading figure in this trend. The Darmstadt Artists' Colony and Wiener Werkstaette provided perhaps the most significant German input to the trend, while in Denmark Georg Jensen –though best known for his Silverware also contributed significant pieces/ In England, Liberty & Co and the British arts & crafts movement of Charles Robert Ashbee contributed slightly more linear but still characteristic designs. The new style moved the focus of the jeweller's art from the setting of stones to the artistic design of the piece itself; Lalique's famous dragonfly design is one of the best examples of this. Enamels played a large role in technique, while sinuous organic lines are the most recognizable designb feature. The end of World War One once again changed public attitudes; and a more sober style was set to take center-stage.[22]
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