Wealth of Nations - 1626 Words

Michelle Trejo Dr. King Human Nature and the Social Order II June 6, 2008 â€Å"The Wealth of Nations† Adam Smith, the author of â€Å"The Wealth of Nations†, was a Scottish moral philosopher during the Industrial Revolution who was inspired by his surroundings to write about the field of economics. Being a man of intellect on various types of philosophical views, Smith was able to portray his passionate feelings about political thought through his well-written works. While publishing his book, Smith became known as the â€Å"father of modern economics†. He was given this honorary title due to his strong determination of trying to understand how human nature impacts the social order. Smith was able to use several types of rhetoric styles, such as†¦show more content†¦The â€Å"Impartial Spectator† was an imagined being that helps define our own conscience, which would aid the conduct of our nature on particular thoughts and motifs. After analyzing these various concepts, Smith was able to acknowledge the importance of allowing individuals to follow their natural propensity in order to create a national economic growth for the well being of a nation. Based on this notion about natural propensity, Smith is able to examine why the unexamined life is not worth living due to the advocates of division of labor. He is able to use these advocates as one of his prime examples to explain how they sought to maximize their profits or wages by employing themselves and their capital. Smith states When an animal wants to obtain something either of a man or of another animal, it has no other means of persuasion but to gain the favour of those whose service it requires†¦ Man sometimes uses the same arts with his brethren, and when he has no other means of engaging them to act according to his inclinations, endeavors by every servile and fawning attention to obtain their good will... However, to do this upon every occasion†¦ at all times in need of the cooperation and assistance of great multitude, while his whole life is scarce sufficient to gain the friendship of a few persons (169). Smith tries to explain that a man’s most valuable way to increase his power in order is to create superiority based on theShow MoreRelated The Wealth of Nations Essay955 Words   |  4 PagesThe Wealth of Nations Adam Smith’s famous attempt to explain the nature and causes of the wealth of nations rests on several crucial assumptions about human nature which in turn rely on false universalism and questionable dichotomies. To begin with, Smith makes roughly three claims about human nature. Primarily, Smith assumes that self-interest is inherent in all human beings. As opposed to animals which rely on benevolence, in opposition to natural pity (Rousseau p. 53), the human â€Å"will beRead MoreAnalysis Of The Book The Wealth Of Nations Essay1234 Words   |  5 Pagesmanagement as a whole. Management has evolved over the years and will continue to as people and procedures do as well. March 9, 1776 marked the date that Adam Smith wrote his widely known book â€Å"The Wealth of Nations†. The book s original name is â€Å"An Inquiry into the Nature and Causes of the Wealth of Nations, however it is not recognized by the majority public as so. Smith originally wrote the novel to dismember the thought that mercantilism was a good idea. Only selling goods and gaining nothing fromRead MoreThe Wealth of Nations: A Revolutionary Work on Economics1357 Words   |  6 PagesAdam Smith’s The Wealth of Nations is one of history’s most revolutionary works on economics, with basic principals that remain applicable to today’s business world. Smith wrote it in an effort to transform the way Europeans created and sold products and to promote the concept of a free market. The book was a catalyst for change, quickly spreading throughout the world new and revolutionary ways to improve the financial systems of Europe by making them more productive. It promoted the conceptRead MoreAn Investigation Into The Nature And Causes Of The Wealth Of Nations1380 Words   |  6 PagesSOCB42- Classical Sociological Theory Professor Daniel Silver TUT0001 TA Katie Stuart Joyce (Fong) Liu 1001717458 Throughout the book An Inquiry into the Nature and Causes of the Wealth of Nations, Adam Smith uses the term â€Å"commercial society† rather than more accustomed words like â€Å"capitalism.† Smith explains what he means by this term, is when the division of labour has been once thoroughly established, it is but a small part of a man’s want which the produce of his own labour can supply. HeRead MoreSummary Of The Wealth Of Nations By Adam Smith805 Words   |  4 Pagesexamines the different methods that can increase the production of land and labour. He discusses that production can be raised by using the methods of, division of labour and capital accumulation. Smith also provides evidence throughout The Wealth of Nations, proving that his method of labour division is the best way to develop the economy. The key behind Smith’s writing is to prove how division of labour will improve economic progress. Initially, Smith proposes the idea of division of labour inRead More The Wealth of Nations Essay1349 Words   |  6 Pagesof continental Europe. nbsp;nbsp;nbsp;nbsp;nbsp;While tutoring from 1763 Adam Smith found some of the time spent in the French provinces hard to fill and seems to have begun his masterpiece An Inquiry into the Nature and Causes of the Wealth of Nations, as a way of taking up otherwise idle hours in the summer of 1764. Overall however he derived much personal philosophical benefit from these months of journeying on the continent. In Paris he met amongst others, the quot;Physiocratquot; economicRead MoreWealth of Nations Summary2605 Words   |  11 PagesAN INQUIRY INTO THE NATURE AND CAUSES OF THE WEALTH OF NATIONS by Adam Smith (Chapters I-VIII Summary) Submitted to: Sir Lemuel P. Del Rosario Submitted by: Rian Karlo Z. Punzalan Section:2B-G2 CHAPTER I THE DIVISION OF LABOUR. When a work is broken down into much smaller work and distributed into individuals that specialize in that work, we can achieve maximum productivity. For example the work of making a computer program can be divided up into these assignments. 1. The main programmerRead MoreWealth Of Nations By Adam Smith1574 Words   |  7 PagesIn his book, Wealth of Nations, Adam Smith makes arguments to support free-trade. These arguments range from having to do with war, all the way to the structure of social classes. In order to assess the morality of these arguments, David Hume’s definition of morality and Kant’s definition of morality can be used. These definitions, ultimately, serve as context for Smith’s arguments, so that there is a clearer idea of whether they are moral or not. From this, modern readers of Smith’s book can betterRead MoreThe Importance Of Wealth And A Consumerist Nation1356 Words   |  6 PagesDerek Crosby Online British Literature 6 August 2015 Social Classholes: The Importance of Wealth Historically and in a Consumerist Nation One of the most important aspects of any novel is the theme. Furthermore, themes that express practicalities that people in the real world deal with regularly are that much more effecting. That’s why novels like Pride and Prejudice and Jane Eyre are timeless; their themes are extremely important and will forever ring true in society. Most prevalentlyRead MoreThe Wealth Of Nations By Adam Smith1384 Words   |  6 Pagesworld. Some books, such as the Bible, have influenced Christians. Common Sense by Thomas Paine encouraged Americans to join the fight against the British. Other books, however, do more than simply encourage; they introduce a new philosophy. The Wealth of Nations by Adam Smith is claimed to aid the philosophy of what would one day become modern economics. One author wrote two books that would change the course of history. These books would lay foundations to communism and influence leaders like Lenin

The, And The Iliad Essay - 985 Words

1. â€Å"We are the proper inheritors of these great thinkers, but we tend to approach life with just our own resources and whatever insights we can pick up from the people around us† (Morris ix). So many of my classmates through the years had complained about having to read excerpts from old stories. They didn’t understand why they had to read pieces of Beowulf, or the Iliad. Only a handful of us enjoyed what we read and could comprehend the cryptic writings. Those who were willing to read and maybe reread the text were able to retain more information so they would be better equip for some other circumstances. Not only did they pass the unit test, they also brought that knowledge to other classes with them. It doesn’t matter if the lessons from people in the past are entertaining or boring. One never knows when they will need knowledge from someone in the past. 2. â€Å"One of the strongest forces in human life is the power of self-deception† (Morris 13). How can we trust others if we can’t even trust ourselves? When a person wants to know what they want to move toward as a goal, they have to look inside. To gain a clear picture of appropriate goals, a person mustn’t lie to themselves. Self- deception is an illusion that is hard to look past. The possibilities are endless for the situations in which illusions take place. An example of such an illusion is a family with financial issues that is blind to the fact that they need to stop spending so much. How do we break the illusion ofShow MoreRelatedThe Iliad Of The Homer s Iliad Essay1475 Words   |  6 PagesThe Iliad ranks as one of the most important and most influential works in terms of world literatures since its establishment. Between the underlying standard to which the Iliad offers us as audience members, along with the plethora of writers that have followed in the footsteps to which Homer’s Iliad paved, the impact that the Iliad has played is remarkable in itself. While the Iliad can be credited for much of present day literature we study today, Hollywood can be created for the plethora ofRead MoreThe Iliad1088 Words   |  5 PagesThe Iliad is the quintessential epic. It is full with gods, goddesses, heroes, war, honor, glory, and the like. However, for just short while near the very conclusion Homer avoids all of those epic qualities. The banquet scene in Book XXIV is the most touching, the most human scene in the entire poem . In the midst of the dreadful gulf of war and anger there occurs an intimate moment between two men who ironically have much in common below the surface. Priam, old and fragile, makes his wayRead MoreAnalysis Of The Iliad 915 Words   |  4 Pagesto support this line. One such work of literature is Homer’s great epic, The Iliad. This poem, encompassing the telling of the great Trojan War, is one of the best examples of such a text. Throughout the text, it lays before the reader many separate scenes of violence, rather than grouping all of the battles together into one war like historic anthologies do. There are many scenes of violence throughout the poem, The Iliad, many of which contribute to the complete work, a small selection of these scenesRead MoreThe Epic Of The Iliad943 Words   |  4 Pages The Iliad tells the story of the battles between the Achaeans and the Trojans, and the events happening during the weeks of arguing between King Agamemnon, the leader of the Greeks, and Achilles, Greece’s greatest warrior. These events play the role of a playground for the gods, as they often intervene and usually change the outcome of certain events. In regard to Homer, Longinus claims that he feels â€Å"indeed that in recording as he does the wounding of the gods, their quarrels, vengeanceRead MoreThe Iliad And The Odyssey1060 Words   |  5 Pages â€Å"Hateful to me as the gates of Hades is that man who hides one thing in his heart and speaks another.† (The Iliad pg.405) The quote is relevant to the stories Homer created during the period of the Trojan War. Homer orally performed two of his best works The Iliad and The Odyssey. Homer’s stories are old and probably translated differently than their original telling. Homer’s The Iliad and The Odyssey still show the basic human emotions and are an inspiration to other authors, poets, and oral presentersRead MoreThe Iliad and the Odyssey1510 Words   |  7 Pages The Iliad and the Odyssey are two classic stories told by Homer. Within these two stories the roles of the gods are very important to the story line and ho w they affect the characters throughout. In the Iliad, more gods are involved with the characters whereas in the Odyssey there are only two major gods that affect two major characters. The roles of the gods in the Iliad are through two different stances of immortal versus immortal and mortal versus immortal. The roles of the gods in the OdysseyRead MoreThe Iliad By Homer892 Words   |  4 Pages The Iliad by Homer depicts the great struggle by Agamemnon and the Greeks to take the mighty city state of Troy and return Helen to her rightful husband, Menelaus. While many ponder if the war actually happened, or why the gods always seemed to be more human than humans themselves, few ask the key but often overlooked question; why is Agamemnon the leader of the Greeks in the first place? What happened that put him in charge of the Greek forces? Why does there seem to be an underlying resentmentRead More Iliad Essay1502 Words   |  7 Pages quot;The Iliadquot;, an epic tale told by the fa mous Greek author Homer, is focused primarily on the Trojan War between the Greeks, or Argives, and the Trojans. This war was filled with bloody battles and a massive loss of life. Homer tells stories about a duration of time during this fighting, and not the entire war. He uses his story-telling abilities to focus the audience on the garish and sometimes mundane drudgery of war. Due to his removal from the actual time of these battles, his storiesRead MoreThe Iliad, by Homer980 Words   |  4 Pages The Iliad written by Homer in the days of Ancient Greece has become one of the most epic poems of all time. It is a poem that has been debated for centuries. Within the tale of Achilles and the wrath of war lies a magnificent object that is shortly mentioned in Book 18. The brief section in Book XVIII, lines 505-660, described the shield that Achilles would carry into battle. However, it also tells us something about the nature of Achilles and his heroic image full of rage and anger . In orderRead More Iliad Essay1253 Words   |  6 PagesThe Iliad and The Odyssey are two epic poems with both similar and different styles to the structure of the poems, as well as each poem having the same gods incorporated into the stories intervening with the day to day lives of the mortals. Greek poetry before Homer was all composed orally; therefore it is assumed that Homer’s works are the first written works of art (Joachim Latacz, page 15). Scholars who have spent extensive time researching the origin of Homer’s work cannot verify a specific

Fixed Income Securities Free Essays

ANSWERS TO QUESTIONS FOR CHAPTER 1 (Questions are in bold print followed by answers. ) 2. What is meant by a mortgage-backed security? A mortgage-backed security is a security backed by one or more mortgage loans. We will write a custom essay sample on Fixed Income Securities or any similar topic only for you Order Now Like a bond that is callable, a mortgage-backed security allows the investor to grant the borrower an option. 4. What is the cash flow of a 10-year bond that pays coupon interest semiannually, has a coupon rate of 7%, and has a par value of $100,000? The principal or par value of a bond is the amount that the issuer agrees to repay the bondholder at the maturity date. The coupon rate multiplied by the principal of the bond provides the dollar amount of the coupon (or annual amount of the interest payment). A 10-year bond with a 7% annual coupon rate and a principal of $100,000 will pay semiannual interest of (0. 07/2)($100,000) = $3,500 for 10(2) = 20 periods. Thus, the cash flow is $3,500. In addition to this periodic cash, the issuer of the bond is obligated to pay back the principal of $100,000 at the time the last $3,500 is paid. 6. Give three reasons why the maturity of a bond is important. There are three reasons why the term to maturity of a bond is important. First, the term to maturity indicates the time period over which the holder of the bond can expect to receive the coupon payments and the number of years before the principal will be paid in full. Second, the term to maturity is important because the yield on a bond depends on it. The shape of the yield curve determines how the term to maturity affects the yield. Third, the price of a bond will fluctuate over its life as yields in the market change. The volatility of a bond’s price is dependent on its maturity. More specifically, with all other factors constant, the longer the maturity of a bond, the greater the price volatility resulting from a change in market yields. 8. Explain whether or not an investor can determine today what the cash flow of a floating-rate bond will be. Floating-rate bonds are issues where the coupon rate resets periodically based on a general formula equal to the reference rate plus the quoted margin. The reference rate is some index subject to change. The exact change is unknown and uncertain. Thus, an investor cannot determine today what the cash flow of a floating-rate bond will be in the future. 10. What is an inverse-floating-rate bond? While the coupon on floating-rate bonds reliant on an interest rate benchmark typically rises as the benchmark rises and falls as the benchmark falls, there are issues whose coupon interest rate moves in the opposite direction from the change in interest rates. Such issues are called inverse floaters. 12. (a) What is meant by an amortizing security? The principal repayment of a bond issue can be for either the total principal to be repaid at maturity or for the principal to be repaid over the life of the bond. In the latter case, there is a schedule of principal repayments. This schedule is called an amortization schedule. Loans that have this amortizing feature are automobile loans and home mortgage loans. There are securities that are created from loans that have an amortization schedule. These securities will then have a schedule of periodic principal repayments. Such securities are referred to as amortizing securities. (b) Why is the maturity of an amortizing security not a useful measure? For amortizing securities, investors do not talk in terms of a bond’s maturity. This is because the stated maturity of such securities only identifies when the final principal payment will be made. The repayment of the principal is being made over time. 14. What does the call feature in a bond entitle the issuer to do? The most common type of option embedded in a bond is a call feature. This provision grants the issuer the right to retire the debt, fully or partially, before the scheduled maturity date. 16. What does the put feature in a bond entitle the bondholder to do? An issue with a put provision included in the indenture grants the bondholder the right to sell the issue back to the issuer at par value on designated dates. The advantage to the bondholder is related to the possibility that if interest rates rise after the issue date (thereby reducing a bond’s price) the bondholder can force the issuer to redeem the bond at par value. 8. How do market participants gauge the default risk of a bond issue? It is common to define credit risk as the risk that the issuer of a bond will fail to satisfy the terms of the obligation with respect to the timely payment of interest and repayment of the amount borrowed. This form of credit risk is called default risk. Market participants gauge the default risk of an issue by looking at the default rating or credit ratin g assigned to a bond issue by one of the three rating companies—Standard Poor’s, Moody’s, and Fitch. 0. Does an investor who purchases a zero-coupon bond face reinvestment risk? The calculation of the yield of a bond assumes that the cash flows received are reinvested. The additional income from such reinvestment, sometimes called interest-on-interest, depends on the prevailing interest-rate levels at the time of reinvestment, as well as on the reinvestment strategy. Variability in the reinvestment rate of a given strategy because of changes in market interest rates is called reinvestment risk. This risk is that the interest rate at which interim cash flows can be reinvested will fall. Reinvestment risk is greater for longer holding periods, as well as for bonds with large, early cash flows, such as high-coupon bonds. For zero-coupon bonds, interest is reinvested at the same rate as the coupon rate. This eliminates any risk associated with the possibility that coupon payments will be reinvested at a lower rate. However, if rates go up, then the zero coupon bond will fall in value because its â€Å"locked-in† rate is below the higher market rate. 22. What is meant by marking a position to market? Marking a position to market means that periodically the market value of a portfolio must be determined. Thus, it can refer to the practice of reporting the value of assets on a market rather than book value basis. Marking to market can also refer to settling or reconciling changes in the value of futures contracts on a daily basis. 24. What is risk risk? There have been new and innovative structures introduced into the bond market. Money managers do not always understand the risk/return characteristics of these securities. Risk risk is defined as not knowing what the risk of a security is because those involved in issuing and buying securities are not aware of what can happen. There are two ways to mitigate or eliminate risk risk. The first approach is to keep up with the literature on the state-of-the-art methodologies for analyzing securities. The second approach is to avoid securities that are not clearly understood. 26. What is a price-risk-transferring innovation? A price-risk-transferring innovation is an innovation that provides market participants with more efficient means for dealing with price or exchange rate risk. How to cite Fixed Income Securities, Papers

Hopeful Encounter Essay Example For Students

Hopeful Encounter Essay The sun was setting. Far to the east, threatening black clouds arosefrom the fumes of pollution from the several smoke stacks towering over thecity. The streets were pock marked and dented with the recent shower ofacid rain. Hot boiling steam from the sewers made the temperature of daymuch hotter than it really was. Just outside the borders of the city is alake covered with muck and crude oil spills. Death and despair floatedaimlessly on the surface of the unhospitable body of water. Corpses of deadfish, seagulls bobbed just under the rim of the black slime. The blackslime sensing fresh prey, extended its corrupt and revolting tendrilsfartheruntil it caught another unsuspecting victim, choking andengulfing, destroying, leaving just another emtpy shell behind, devoid ofany life. Night set in, the stars were obscured by thick blankets of smoke. Theday was done. Stores got ready to lock up and street lights were turned onto aid the bread winners, so they may travel safely. Few were fortunateenough to own automobiles so they could avoid the cold dangerous streetsand dark alleyways. Most shops were already abandoned, finished for theday. Yet few doors were still open, desperate for any last minutecustomers. One such shopkeeper was Phil Anderson. Anderson had worked asa pharmacist for most of his life. At forty, he had little to show for. The pollution that caused the gradual decay of the city had had negativeeffects on business, as well as the environment. Phil, though by all meansnot an old man, showed signs of premature aging. His skin was pale anddry, wrinkled by the everyday punishment of the deteriorating sorroundings. Few strands of grayish white hair lined his almost bald, dandruff infestedscalp. Looking at Phil with his characteristic limp, slouched posture andbulging belly one might think him an extremely unathletic person. But thenagain it was not entirely his fault. His eyes were red and bloodshot, theglasses he wore only made these features more obvious. With shaking skinny hands, Phil slowly put away the last of the itemson top of the counter. Finally done, he flicked off the lights andrummaged through his pockets for his keys. Looking one last time to makesure the shop was in order, Phil locked up the store and left. He failed to notice a dark shadow spying on him as he counted the bills he had earnedtoday, and put it away into his black leather wallet. The tall dark figurestudied the pharmacist a while longer before trailing him. The narrowdirty street smelled of weeks old garbage and animal wastes. Smog wasstill thick in the air causing him to cough repeatedly. He stopped for amoment to catch his breath. Remembering his air filter in his pocket, Philgingerly took it out and put it on. Feeling much better Phil continueddown the street, heaving a sigh of relief. He headed towards home, but soon remembering that he always stops bythe Charleton Bar for a drink or two, Phil abruptly changed direction. Sounds of laughter and grumbling reached his ears as Phil pushed open thedoors of the Charleton. The Charlton is located at Bradleys street, just a couple of blocksaway from Phils Pharmacy. Often did Phil come here to unload and forgethis problems. This old bar is small and a little rundown but by no meansdeserted. Though built with concrete, The Charleton was wooden inside. Itwas dimly lit by old-fashioned lanterns placed along the walls, that gaveit an atmosphere of relaxation. At least the problems of the world can betemporarily forgotten in here, drowned out in a pint of beer. A lowslanted ceiling hung over head. Years of exposure to acid rain caused thewood to decay. Wood fillings was occasionally used to patch up the holes. Although the variety of alchoholic beverages served here were not abundent,the ones they did have were quite popular. Their Spinner and Geinis forexample, were among the house favorites. Few scattered chairs and tableswere spread around the room in no apparent order. Most were occupied. Amiddle aged couple sat in the middle of the room talking softly amongstthemselves, minding their own business. Far in the shadows of the cornerwas a young lad, who it seemed to Phil, was too Young to have legallyentered the bar. Clutched in his hands was the weaker of the drinks thatthe bar offered. Yet the young inexperianced drinker wobbled heavily inhis seat, unaccostomed to anything containing alcohol. He must havesneaked in, Phil thought casually, many do. These days no one really caresanymore. Scattered around the rest of the Charlton were the usual bunch, afew bums, workers who had shops close to the Charleton, and young ones whofind the world outside too harsh and demanding, so they come here to seekshelter. But it was no permanent shelter, Phil knew. They would have toface their problems all too soon. There was one person in the crowed that Phil did not recognize. Hewas a newcommer, Phil knew, because He was sitting on his favorite stool,up on the counter. He sat alone sipping on his Spinner with long easygulps, marking him a frequent vistor to Taverns. The stranger had clearblue eyes and sandy coloured hair. The corner of his eyes mouth were drawnwith lines, proof of the hard times. He was of normal built and seemed alittle taller than average height. His posture was a little stooped, heprobrably worked on construction or something straining to the body. Thenewcomer was no means unattractive though, Phil would guess he could pickup a girl or two any day. There was something refreshing about him. Acertain aurora of confidence and hope radiated from him. Maybe it was theway he handled himself, or something else, made Phil curious about him. Hedecided to walk over to talk to him. Phil leaned slighly on his right legmaking his way to bar. The floor boards creaked with each step Phil took. Was Prince Hamlet Wacko? Essay After a quick goodbye to his buddies, Phil rose and joined Bill, theyopened the doors of the Charelton and headed out to the streets. Phil felt a certain bond towards Bill, he inspired hope andconfidence. Phil hadnt felt this certain of himself for so long that heforgot how great it felt. He knew that this would be a start of a goodfriendship. So tell me more about yourself and your kids, what do you do to helpthe environment?, Phil wanted to know. Bill did not answer, he seemed tobe preoccuppied with some other thoughts. Are you all right? ,Philasked. Oh, sorry I was just thinking about something. What?, thePharmacist inquired. How to rob you!, came Bills reply. Phil looked toStevens in shocked disbelief, he then noticed the smile that was playingacoss Bills face, and realized it was a joke. Phil laughed long and hard,he hasnt felt this good in a while. They walked down a few more blocksand were approaching the run down part of town. This place always givesme the creeps, it really helps that your with me. Yeah right., Billsaid. They were walking down a particullary dark alleyway when Bill suddenlystopped. He looked around to make sure nobody was around. Phil, puzzledasked, Something wrong Bill? Nothing, came the answer, everything isjust fine. Bill suddenly grabbed the scruff of Phils shirt and pushedhim against the wall. Bill what are you doing?, Phil cried out,frightened and confused. What does it look like Im doing you fatbastard!, Bill snapped sarcastically.Now, wheres your wallet?, thethief demanded. Bill I dont get it? Why are you doing this?, Philcroaked weakly, even more confused now. Why am I doing this? Are youthat stupid? To survive in this polluted dump! Phil shook his head,struggling in vain to break free of Bills grasp. What about all thethings you said about the world being a better place?, Phil askeddesperately. What about your family, your kids? You actually believedall that bull. I just told you whatever it took to get you out of that barand get you here. So I can do this! Phil saw coldnes s in Bill, hisexpression, distant and unfeeling. The Bill he had met at the Charletonwas no more. Replaced by a cold and calculated thief. You really meantwhat you said in the bar, I can tell! You really did! Its true, wellsurvive! You cant be like this. I know theres good in Bill Stevens!Phil sputtered. Thats not true and you know it, and you believed it!You were a fool to have me trick you! Listen Bill, everyone can change,you made me believe. I was wrong to simply complain and do nothing when Icould help save the world. If we all pitch in, as you said, it can reallywork! Phil pleaded with the thief, trying to make him see reason. Billhesitates for a moment and his expression softened, revealling desperationand guilt. But then in seconds, the mask of coldness returned. Bill fixedPhil with a hard stare, then reached into Phils pocket. This is my life,what I do, I cant change now. Its too late!, Bill said, as if it wasany consolation to Phil. Its never too late!, Phil cried, Bill, j usthear me out! Bill snorted and gave Phil a swift and strong blow to theabdomen, dropping him to the pavement like a ton of bricks. Doing that,Bill ran off and disappeared into the night. Leaving a crumpled, patheticform, lying in the dirty deserted alleyway. The pitter patter of rain drops soon bombarded the city. Sulphurousclouds released pounding sheets acid rain. Though this downpour did notcool the city in any way. Steam from the gutters still erupted withunrelented pressure. As the stinging pelts continued their assault onnature. The lake outside the borders of the city was filled with morebodies of helpless victims, that slowly suffered, because of man. The moonwas still not seen, nor will it be, anytime in the future, as dark swirlingclouds obscured the sky. IN the alley, the rain fell down upon Phil as he sat peniless andhopeless in a puddle. The acidic rain burned through Phils coat,gradually eroding away the fabric. Footsteps headed towards Phil in urgenthaste. Phil, what happened? Are you all right?, Tom called out. Philsbuddies in the Charleton had just finished their drinks and were justheading home. Tom, who spotted Phil hunched on the pavement and quicklycame to see what was wrong. Ray and Wil followed not too far behind butelected to keep silent. Depressed and angry, Phil simply wanted to be aloneright now, Get out of here! Go away! Leave me alone, he shouted inbetween tears. Tom flinched at the harshness of Phils tone. He glancedone more time at his friend and walked away. Wil and Ray not knowing whatto do followed Toms example and granted Phils request for privacy. Cold and numb, Phil put his hands into his pockets in a pitifullattempt to stay warm. After losing all his money, he was even moredepressed than ever. Reaching deeper into his pocket, Phil felt arectangular leather object, then smiled. Once again, Phil Anderson, felthope.