The Secret of True Happiness in Life and the Concept of Change and Term Paper

The Secret of True Happiness in Life and the Concept of Change and Self - Term Paper Example The term paper ''The Secret of True Happiness in Life and the Concept of Change and Self'' is aimed at analyzing that there are a lot of new technologies that humans have invented on the basis of the knowledge that the people a 100 years ago had never seen or used. With the evolution of technology, people have become more and more materialistic. Also the term paper describes that everything has changed with time. Even our own thoughts, preferences, likes and dislikes keep changing with time. Just like we never look the same, we never want the same. As children, we live in a world of fantasy. As we grow up, we want to be important and lure ourselves. We want to gain power, money, and love. As children and young adults, we think that money is the solution to every problem, but as we age further, we get to know that money can’t buy happiness. We realize that happiness and satisfaction was never in the things we had always been craving for. Socrates said, â€Å"He is richest who is content with the least, for content is the wealth of nature† (â€Å"Socrates Quotes† 1). The paper suggests if being rich made one happy, no rich person would ever have been unhappy, but we see that it is generally the rich people who become the victims of depression and anxiety. Agreed that money helps us achieve our goals, but our goals may not always be what we really want. It is human nature. All human beings need satisfaction and happiness, and that is in selflessness. The sooner we realize this fundamental secret of life, the sooner we start to live a happy and fulfilling life.

General motors transnational strategy Essay Example | Topics and Well Written Essays - 250 words

General motors transnational strategy - Essay Example General motors’ is a multinational organization with and have factories manufacturing vehicles and vehicle accessories in at least 37 countries and has 10 established brands (Pelfrey 2006: 129). The company was the leading automotive seller for 77 years which is the longest time that any automotive company has dominated the automotive industry (Holstein 2010). However, the company was seriously affected by the 2008 economic crisis which led to it closing three of her brands. Since 2008, the company has been observed to continue declining in terms of revenue earned.The data needed for this research will be collected by analyzing different papers that have been written regarding the strategies written by general motors and also scrutinizing its financial performance from the company annual reports. There are many studies that have been conducted to analyze GM performance.Expected resultsThis has resulted in creation of competition among different brands thus the company ends up sabotaging its own products (Husted & Allen 2011: 49). The structure is also vertically organized which inhibits communication between the top managers and the employees. This has resulted in a lot of labor union problem which has affected the company productivity (Crumm 2010: 267). GM has also failed to cater for the needs of the customer by developing alternative fuel vehicles in this age of energy crisis. Nevertheless, the company has been successful in entering emerging markets such as China and this has improved its global presence.

Dance of Life Essay Example for Free

Dance of Life Essay The painting â€Å"Dance of Life†, created by Edvard Munch in 1900, is a painting that portrays people in different stages of life. It portrays two women who seem sad, a third woman who seems happy, and a bunch of other women dancing with men. The painting implies that life is difficult and that it can be depressing at times, but that it always goes on. The arrangement of the women in a half circle represents the phases of life. The women on the end of the half circle are both standing alone. The woman on the far left stands alone, representing youth, and wears white, representing innocence. The woman on the far right stands alone, representing the loneliness of old age, and she wears black, representing death or loss. The women dancing in the background represent the different phases of life and the enjoyment that can be found in every phase of life. The woman in the center of the painting represents the idea of being out of step with the ‘dance of life’. She wears a red dress, different from all the others. Red represents danger or anger which can be perceived as negative, but by painting her in the center the artist respects her unique position in life and implies that her difference from the rest is a positive quality. The way that others are turned towards her represents how people in society center so much of their lives on attention to others’ decisions. More than half of the painting has a green background representing life and vitality. The top quarter of the painting is a blue body of water that simultaneously represent tranquility. The juxtaposition of these two represents the necessity of having balance in your life. The green, as well as the people dancing, represent the joy to be found in life. Most of life should be joyous, coupled with the tranquility, silence, and reflection represented by the blue and the three girls not dancing. The different colors used in this painting represent all the different aspects in life and how important it is to acknowledge all of them. The artist doesn’t use harsh lines or defined shapes in this painting. All the shapes are smooth and rounded. It really adds to the implication that life flows. The smooth shapes help the painting transition from left to right. The smooth shapes support the half circle shape and it all works together to create a path for the eye to follow. There’s not a large contrast of darkness and light; most of the painting is dark except for one column where the sun is, which casts more light on the girl in white. This gives the idea that there’s more light, more carefree-ness in the youth. The entire painting is two dimensional. Though there are clearly different rows and elements to this painting, the grass, water, and sky all seem to run together in a flat way. This gives the feeling that we are bigger than life; that we are bigger than the problems of the world around us. The painting has three central points of interest; the three women in their different phases of life are set up as the most significant points of the painting. It represents the phases of life and brings to mind the emotions associated with those phases. The young girl in the white dress stands next to flowers which only accentuate the idea of youth and imply that the girl, like the flowers, will still continue to grow. The older woman on the end seems to have a morose, solemn look about her. It implies introspection and reflection on the long life she’s lived. It gives pause to the viewer and causes them to be solemn. One reason the painting conveys its message so well is because of the way the women are set up in contrast to each other. The harmony in the painting is created in the way that the women wear white and the men wear black. It creates a calm background which sets up a better backdrop to set the three women apart. The sun setting over the water creates a smooth backdrop and adds an idea of resignment to the painting; as though it’s okay to accept this ‘dance of life’ as a way of living. Unity is completely achieved in this painting as all of the people have something in common; be it gender, clothing color, or disposition. This is a closed compositional painting and it’s emphasized by the circle closing off at the edges of both paintings. It represents the idea of the circle of life and ensures that every aspect of life is contained in the painting. The lines and structure of this painting seem unintentional. The lines of the grass and the separation between the water and the sky aren’t straight or harsh. They’re smooth and blurred, creating an intentionally casual dynamic. The point of view of the painter is that life is short and that people are happiest in their youth. The older woman seems to have a look of remorse or regret on her face as she stares at the lady in red. The painter seems to be saying that we, as the viewers, should enjoy our youth and live without regrets. It also gives implications about life and the human experience; life is contained in a short circle and passes by quickly. In any phase of life, there are things to be enjoyed and appreciated because life passes by way too quickly. The painter’s view of the world is that there’s good aspects of every part of life. He seems to think that youth is the best part of life and that mistakes are central to life. The way that everyone circles around the woman in red represents that life circles around mistakes and trials but that it’s all surmountable. The painting accurately describes the way that the artist sees the way the life begins and ends; the way that we start as the girl in white—innocent and hopeful and young—and that we end as the lady in black—feeling morose and sad and as though life has slipped away all too suddenly. The way that she looks at the girl in red implies that the painter thinks that in our old age all we have to look back on is the choices we made, the friends we choose to keep, and the happiness that we choose to create. Though this was painted in 1900, it very accurately represents our culture right now. It’s a reminder to seize the day, to live for the moment, to make the most of whatever phase of life you’re in so that you won’t look back at the end of life and regret choices or missed opportunities. This painting causes me to reflect on my life and the decisions that I make. It makes me want to focus more on being happy with the phase of life that I’m in and to appreciate being youthful and carefree. It reinforces the desire to not make decisions that will keep me out of the circle. The painting gives the feeling that life is to be enjoyed, and that no matter what it will keep going.

Inventing the Caribbean: Columbus’s Creation of the Other Essay

Inventing the Caribbean: Columbus’s Creation of the Other Columbus’s invasion of the Caribbean in 1492 brought Native American and European cultures together for the first time in a startling encounter that reshaped the worldviews of both groups. In The Conquest of America: The Question of the Other, Tzvetan Todorov seeks to understand the ways in which the Spanish worldview shaped Columbus’s perception of the natives of Hispaniola, as he fashioned an other from his own sense of self. In Todorov’s model, the other is defined in terms of its correspondence, or lack thereof, to different facets of the self, including culture, language, physiognomy, religion, and knowledge; furthermore, the other is valued, distanced, and understood in relation to the presumed supremacy of the self. In this way, the other can only be seen as an â€Å"imperfect state of oneself† and never as a distinct entity judged according to its own values and defined on its own terms (Todorov 42). Todorov explores Columbusâ€℠¢s letters and journals, various first-hand accounts of the discovery, and the writings of Las Casas in order to understand the ways in which the distinct self of the native population was transformed into an other, whose identity depended on European values to define it. Todorov argues that Columbus’s self (and, consequently, the other, which he created in the image of that self) is defined by three spheres: the divine, nature, and humans. Each of these spheres is integral to Columbus’s worldview and colors his perception of that which is outside his world. Within these spheres of perspective, Columbus’s identity is shaped by Catholicism, a reverence for nature, and European society and culture – particularly that of Portu... ...her and reveals the complex process of suppression and projection, which attempted to impose the â€Å"Old World† view on the â€Å"New World† in the sixteenth century Caribbean. Bibliography 1. Columbus, Christopher. The Journal of Christopher Columbus. New York: Burt Franklin, 1968. 2. Knight, Franklin W. The Caribbean: The Genesis of a Fragmented Nationalism, 2nd edition. New York: Oxford University Pres, 1990. 3. Sider, Gerald. â€Å"When Parrots Learn to Talk, and Why They Can’t: Domination, Deception, and Self-Deception in Indian-White Relations.† Comparative Studies in Society and History 29, no.1 (1987), 3-23. 4. Steward, Julian H. and Louis C. Faron. Native Peoples of South America. New York: McGraw Hill, 1959. 5. Todorov, Tzvetan. The Conquest of America: The Question of the Other. New York: Harper and Row Publishers, 1984. Inventing the Caribbean: Columbus’s Creation of the Other Essay Inventing the Caribbean: Columbus’s Creation of the Other Columbus’s invasion of the Caribbean in 1492 brought Native American and European cultures together for the first time in a startling encounter that reshaped the worldviews of both groups. In The Conquest of America: The Question of the Other, Tzvetan Todorov seeks to understand the ways in which the Spanish worldview shaped Columbus’s perception of the natives of Hispaniola, as he fashioned an other from his own sense of self. In Todorov’s model, the other is defined in terms of its correspondence, or lack thereof, to different facets of the self, including culture, language, physiognomy, religion, and knowledge; furthermore, the other is valued, distanced, and understood in relation to the presumed supremacy of the self. In this way, the other can only be seen as an â€Å"imperfect state of oneself† and never as a distinct entity judged according to its own values and defined on its own terms (Todorov 42). Todorov explores Columbusâ€℠¢s letters and journals, various first-hand accounts of the discovery, and the writings of Las Casas in order to understand the ways in which the distinct self of the native population was transformed into an other, whose identity depended on European values to define it. Todorov argues that Columbus’s self (and, consequently, the other, which he created in the image of that self) is defined by three spheres: the divine, nature, and humans. Each of these spheres is integral to Columbus’s worldview and colors his perception of that which is outside his world. Within these spheres of perspective, Columbus’s identity is shaped by Catholicism, a reverence for nature, and European society and culture – particularly that of Portu... ...her and reveals the complex process of suppression and projection, which attempted to impose the â€Å"Old World† view on the â€Å"New World† in the sixteenth century Caribbean. Bibliography 1. Columbus, Christopher. The Journal of Christopher Columbus. New York: Burt Franklin, 1968. 2. Knight, Franklin W. The Caribbean: The Genesis of a Fragmented Nationalism, 2nd edition. New York: Oxford University Pres, 1990. 3. Sider, Gerald. â€Å"When Parrots Learn to Talk, and Why They Can’t: Domination, Deception, and Self-Deception in Indian-White Relations.† Comparative Studies in Society and History 29, no.1 (1987), 3-23. 4. Steward, Julian H. and Louis C. Faron. Native Peoples of South America. New York: McGraw Hill, 1959. 5. Todorov, Tzvetan. The Conquest of America: The Question of the Other. New York: Harper and Row Publishers, 1984.

Barbie Is A Good Role Model

First appearing in 1959 at the American International Toy Fair, Barbie has since become the best selling doll in the world. Barbie has become so popular, that several controversies have come up about her, the most recurrent being whether or not Barbie serves as a good role model for little girls. This paper aims to provide argumentative elements based on facts and reason that support the idea that Barbie is indeed a good role model for little girls. The argument that I wish to make is that Barbie’s biography is indicative of values that women hold dear and that mothers wish of their little girls when they grow up.Barbie's full name is Barbara Millicent Roberts. She was born a healthy baby girl to George and Margaret Roberts of Willows, Wisconsin. Barbie attended Willows High School in Willows, Wisconsin and Manhattan International High School in New York City. Barbie’s senior year in high school introduced her to Ken Carson, who would later be her boyfriend. Barbie has had over forty pets including cats and dogs, horses, a panda, a lion cub, and a zebra. She has owned pink convertibles, trailers, jeeps and more.She also holds a pilot's license, and operates commercial airliners in addition to serving as a flight attendant. She has been, among many others, a veterinarian, an astronaut and a diplomat. Barbie has a lot of friends including Hispanic Teresa, African American Christie and Steven (Christie's boyfriend). (Lord 2) Liberalism has been a positive value to America which has shaped the improvement of many sectors in society. Women in particular have forwarded the feminist movement successfully from the 60s through the 70s, lobbying for equality in treatment and dignity.Barbie’s plethora of abilities indicates the woman’s ability to take on any task given to her and do well in it. Her ability to drive convertibles and trucks and planes alike signifies that women need not bend over to masculine predominance and can actually do thin gs that men used to do for them on their own. Even Barbie’s relationship with Ken, riddled with breakups and reconciliations as it was, showed a Barbie that was not dependent on a man. This is the very core of the feminist movement that every little girl should be aware of.Little girls who are avid fans of Barbie run the easy possibility of being exposed to these lofty ideas of gender equality very early on in their lives. It could lead them to assert themselves in class, gather courage to participate in school activities and sporting events and have strength to fight against anyone that might want to take advantage of her. Animal rights have been a long standing issue in society. The welfare of house pets and the survival of endangered species are of primary concern to humankind.Towards the goals of animal rights movements, Barbie promotes kindness in the pets that she has had. Her many pets teach little girls the importance of taking care of one’s animals. Advertisem ents of Barbie with a new pet always show the young woman taking the best of care of her little darlings. Also, her array of pets includes endangered species, which at the very least gathers awareness from the little ones who idolize her. Who knows how many little girls were inspired to be marine biologists or veterinarians because they were fans of Barbie and her pets during their childhood years?In the era of terrorism, racial disputes and bickering abound all over the world. In the United States, violence in schools due to racial discrimination has reached an all time high. People are very suspicious of anyone who doesn’t look like them. New people are always regarded with fear or anger, especially if they are of a foreign race. But what does Barbie show our little girls at home? She shows them that having friends isn’t a matter of picking people you have a lot of things in common with; it is a matter of talking to people, of talking about your differences and findi ng the beauty in them.Barbie’s being white doesn’t hinder her from being friends with people of different colors, whether it’s Hispanic Theresa or African-American Christie. Barbie’s selection of friends is not hindered by prejudice. All these three explanations tied to three very contentious issues of today prove that Barbie is one of the good girls. It proves that Barbie is a believer in women’s rights. That she is a feminist by heart and that her nature as a young strong woman who can take on any task and not any man get in her way is the woman of today.It proves that Barbie is a supporter of animal rights. Her care for her pets condemns animal cruelty and her inclusion of endangered species among the animals she takes care of shows her concern for the dangers these animals face. It proves that Barbie is no racist, she is an open minded young lady who has made friends because of heart and not skin color. Barbie’s biography speaks of a goo d young lady, who serves as a good role model for all the little girls who love her. Sources: Lord, M. G. , Forever Barbie: The Unauthorized Biography of a Real Doll. Paperback

The United States Border With Mexico - 2059 Words

The United States border with Mexico is a controversial topic that has been the subject of debate recently. It is without question a problem that needs to be fixed. Currently most policies are focused on the manpower, infrastructure, and security of the border itself. However the border security is changed there will always be a demand for illegal immigrants and drug smugglers to cross the border into America. That why we should try to disrupt that demand by legalizing marijuana in the United States, put more resources into fighting cartels, and invest into the Mexican economy. These are the first steps to regaining border security to both countries. TITLE The United States border with Mexico is one of the most interesting borders in the world. Although it is not a military front like the border between the Koreas or as militarized as the border of Russia and the Ukraine, there is a lot going on that requires attention. The southern border of the United States is different from almost all of those in the world because many of its problems are based off of the economic disparity between each country. The difference between wealth and quality of life is substantial and results in people going beyond regular means to cross the border to have a better life. There is also a large difference in the legal and law enforcement system that is exploited by Mexican cartels to make money through drug and human trafficking. The differences between these twoShow MoreRelatedThe Border Between Mexico And United States Essay2246 Words   |  9 PagesIntroduction The United States has led the fight against criminal activities from Mexican borders for many years. Criminal activities along the United States and Mexican border range from drug trafficking, human smuggling and an economy that disruptive. 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Summary Of The International Monetary System Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 1957 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The issues with globalization are not new and those issues associated with trade and how to pay for the transferred goods has definitely been around for a while. Currently the International Monetary Fund (IMF) is the organization that has been tasked with stabilizing the international monetary system, which can fluctuate at any time of the day. If the monetary system were allowed to fluctuate on its money countries would find themselves in a difficult situation, which they would have, very little impact on their own. The world has seen a number of different systems over the last 150 years, from the Gold Standard to the systems we have in place today. So far the IMF has been the most successful, but even it has had to make some drastic decisions, like the one in Argentina in 1991 the IMF ruled that it would not bail them out again. The Argentinean Economy was teetering and the IMF ruled that more loans would be futile. Argentinas money was tied to the US dollar, 1 for 1, but the system was failing and the IMF ruled that drastic measures would be needed, before more help could be provided. In the aftermath the economy and stability of the Argentine nation crashed (Blustein, 54). This is a drastic case, but the IMF must provide financial stability, it cannot just provide loans through the World Bank to hold off the inevitable. Before I get into the real mission of the IMF lets first take a look at a few of the international monetary systems that were used in the past. The first adoption of many of the functions of the modern international monetary system can be traced back to the gold standard. The gold standard was the system that was in use from the late 19th until early in 20th century up until just after World War I. The gold standard was based on the free circulation between nations of gold coins of standard specification, mainly based on the gold coins produced by the Royal Mint in England. Under the gold standard system, gold was the only standard of value; in short all currency and trade goods were fixed on the value of gold. The reason the gold standard collapsed was the lack of liquidity; the worlds supply of money in circulation was limited by the worlds supply of gold. The discovery of a new gold field could cause prices to rise. The increase in trade and other problems with the system caused the international gold standard break down in 1914. The gold standard was replaced by the gold bullion standard during the twenties under which nations no longer minted gold coins but backed their currencies with gold bullion and agreed to buy and sell the bullion at a fixed price. Similar issues caused the gold bullion standard system to collapse, and it only lasted about ten years. Gold continued to play an important part in the monetary system with the adoption of the Gold-Exchange System used in the period after World War II, trade was conducted according to the gold-exchange standard. The participating nations fixed the value of their currencies not with respect to gold, but to some foreign currency, which is in turn fixed to and redeemable in gold. Most nations fixed their currencies to the U.S. dollar and retained dollar reserves in the United States, which became known as the key currency country. The decision to go to ultimately go to the Gold-Exchange System was made at the Bretton Woods international conference in 1944. The result of the conference ultimately led to the creation of the International Monetary Fund (IMF). The IMF would be tasked with maintaining a stable exchange rate on a global level (Galbraith, 160). The IMF continues to the present day and the world does not seem to be moving away from its support of the IMF. The IMF has dealt with two key changes in the way the monetary system has been dealt with, both involved US currency. The first led to the Two-Tier System which was occurred during the sixties, as U.S. commitments drew gold reserves from the nation. Thi s caused the dollar to weaken, leading some countries exchange dollars for gold, this led to a drain on U.S. gold reserves. The two-tier system was created in 1968, In the official tier, consisted of central bank gold traders, in this tier the value of gold was set at $35 an ounce, to keep gold reserves stable gold payments to no central bankers were prohibited (Mayer, 1). The second tie was the free-market tier, mainly all nongovernmental gold traders; golds price fluctuated like a normal market, through supply and demand. Gold and the U.S. dollar continued to be the major reserve asset for the worlds central banks. This system did not stop the drain on U.S. gold reserves; in 1971 the United States was forced to abandon gold convertibility. This action left the world without a single, unified international monetary system. This is considered to be the end of the fixed rate system, which evolved from the collapse of the gold standard way back in 1914 (Greider, 251). With the end of the two tiered system, there was a period of high inflation after the United States abandoned gold convertibility. This action forced the IMF to agree (1976) to a system of floating exchange rates, this formally ended the gold standard. The values of various currencies were to be determined by the market. This is something we experience today as we convert currency during international travel; it changes on a regular basis. The US dollar was and is still seen as the key currency, the Japanese yen and the German Deutschmark strengthened and became increasingly important in international financial markets. The introduction of the euro was introduced in financial markets in 1999 as replacement for eleven mainly European currencies (including the Deutschmark). It began circulating in 2002 in 12 EU nations; the euro replaced the European Currency Unit, which had become the second most commonly used currency after the dollar. Today, though in a downward trend, many large companies use the euro rather than the dollar in bond trading (Greider, 24). Now that I have explained the evolution of the monetary system, you might be asking what does the IMF do? The IMF is the worlds central organization for international monetary cooperation and is headquartered in Washington, DC. The organization depends on cooperation of all participating countries in the world to work together to promote the common good of the monetary system. The IMFs primary purpose is to ensure the stability of the international monetary system; which currently is a system of exchange rates and international payments that enables countries (and their citizens) to buy goods and services from each other. This action is essential for sustainable economic growth and to raise the living standards of the worlds population (IMF.COM). The IMF is currently trying to maintain economic stability and to prevent financial crises in the international monetary system. The IMF continuously reviews national, reg ional, and global economic markets for financial developments. It also provides advice to member countries, encouraging them to adopt policies that foster; Economic stability throughout the world Reduced the vulnerability to economic and financial crises Raise living standards The IMF also provides a forum where member countries can discuss the national, regional, and global consequences of their policies. The IMF also makes temporarily financing available to member countries to help them address balance of payments problems; when countries are short of foreign exchange because their payments to other countries exceed their foreign exchange earnings. This is the situation that Argentina found itself in, when the IMF denied them short term loans, like a banker the IMF must ensure they can repay the loan. The IMF also provides technical assistance and training to help countries build the expertise and institutions they need for economic stability and growth (IMF.COM). Obvi ously the as seen in the current recession the IMF cannot avoid every financial crisis, but it can help ensure that money is available to keep it spiraling out of control, much like the Great Depression of the 1930s. As I have stated the IMF is an organization of cooperating member countries. Crucial to the monetary system is the World Bank, they both have similar functions and the actions of each often appear as one, the Bank and the IMF are separate entities. To clear up the confusion it essential that the following differences are noted; The Bank is primarily a development institution. The IMF is a cooperative institution that seeks to maintain an orderly system of payments and receipts between nations. The IMF and the World Bank have and serve different purposes, they each have a distinct structure, funding is from different sources, assists different categories of members, and each have distinct goals(Greider, 75). To further help distinguish the IMF and the Worl d Bank, the bank has one primary goal; it promotes economic and social progress in developing countries. They accomplish this by helping to raise productivity so that their people may live a better and fuller life. This does not happen overnight and is not continuous, the general upward rise in the standard of living around the world since WW II is testament to the success of the World Bank. On the other hand remember the IMF tries to stabilize sudden and unpredictable variations in the monetary exchange values of national currencies. The IMF mainly functions on trust and cooperation, while the World Bank is the investment arm of the monetary system(Greider, 236). To help further define the World Bank it is made up of two organizations: the International Bank for Reconstruction and Development and the International Development Association (IDA). It should be noted to that another organization that has a role to play in the international monetary system is the International Financ e Corporation it provides funding for private enterprises in developing countries. The World Bank is the primary source of funding for countries, to help with the mission of the World Bank it employs an expertise in the following areas: economists, engineers, urban planners, agronomists, statisticians, lawyers, portfolio managers, loan officers, project appraisers, as well as experts in telecommunications, water supply and sewerage, transportation, education, energy, rural development, population and health care (IMF.Com). Since the demise of the fixed exchange rate system in 1971, primarily the flexible exchange rate system has been used to manage the international monetary system. The flex rate system seems to be more adaptable, to handle the constant changing landscape of the global economy. I think the fixed rate system is just too simple to handle the complexities of the modern system. The rate, at which news travels today, can be devastating on slow fixed rate system. The f lexible system also allows for countries to pursue an independent monetary policy, rather than have it set by a key currency such as the US Dollar. So far the flexible exchange rates have been more adaptable and have been able to distribute the burden of adjustment between the foreign economies and the domestic economy. A fixed rate system may be useful in a developing economy such as the previously mentioned Argentine case, but the change in the base currency (US Dollar) caused the devaluation of the Argentine peso. The Argentinean government was not able to recover fast enough to head off the economic collapse; in flexible system they may have been able to take proactive measures to avoid the situation they found themselves in. That is just a theory and it is yet to be seen if the Flexible system is better that the fixed rate system, but I am sure as there already has been changes that will impact the financial system, that will cause it adapt to some other policy. 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