Tag: profit

The Role of Jewish Financiers Within Venice, Italy During the Renaissance and the Reason Christians Became Capable of Charging Interest Upon Loans

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During the Renaissance, Jews were tolerated in Venice, Italy because they could provide an invaluable service which Christian financiers and merchants were forbidden to do which was to charge interest upon a loan, a concept referred to as “usury”, derived from the Latin term “usura” which means “use” or “interest”. Christians considered charging interest to be a sin and therefore could not partake in this economic exchange. Unfortunately, the Catholic Church’s Medieval laws against usury acted as a major obstacle for the development of finance within Europe during this period. Jews were not technically permitted to lend capital with interest, but those who did relied upon a convenient clause found within the 23rd chapter of Deuteronomy of the Christian Bible which states that lending to a brother at interest was forbidden but that a stranger was a different matter all together. These Jewish lenders interpreted this scripture as a means to provide the ability to lend to Christians, as Christian’s were not considered brothers of the Jews in a religious context during this period, but they would still not be capable of lending finance to other fellow Jews, as these members of society were viewed as brothers regardless of familial ties. Eventually Christian’s were able to circumvent the prohibition of charging interest, primarily because of Giovanni di Bicci de’ Medici, one of the wealthiest entrepreneurs within Italy during the Renaissance. Medici was able to evade Christian usury legislation as Jewish bankers did because of a clever device of trade which made profit upon exchanging multiple currencies rather than interest rates alone. No “interest” paid to Medici meant no sin had been committed. Medici’s business model took a small commission for each currency conversion rendered, with the size of the loan directly impacting the commission of the person who lent it

The Period When Human Begins Developed a Throw Away Cultural Mindset

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Human beings have arguably been a throw away culture, or at the very least mindset and culture, since 1892 when bottle caps were first introduced. The trend has become more and more prevalent to the point where we now replace an entire transmission rather than a gasket. This shift reflects the rise of planned obsolescence, in which products are intentionally designed to have limited lifespans and/or be extremely difficult or expensive to repair. As manufacturing has become cheaper and mass production more efficient, the economic incentive to discard and replace overtook the values of maintenance and longevity. In all industries (eg. electronics, automotive, fashion etc.), repair has been sidelined in favor of convenience and profit. The result is a global surge in waste, with millions of tons of usable materials ending up in landfills each year. Fortunately, there is an expanding movement advocating for the right to repair one’s own possessions which is now acting as a counterbalance to this disposable mindset

The Business Rationale Behind Videogame Pre-Order Perks

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Videogame production companies focus heavily upon pre-order sales as these provide the best path to generating revenue, income which is then re-invested to make even more profit. Production studios spend a lot of time and effort trying to come up with appealing pre-purchase packages because the quicker income is generated, the quicker it can be re-invested, but perhaps as important, pre-sales are sold at the full retail price point unlike delayed sales which are often sold at a discounted rate. Video game production companies spend an immense amount of time developing demonstrations for conventions (e.g. E3, Comic Con, Blizzcon etc.) because this is considered the best opportunity to attract gamers and have them purchase on the spot. These demonstrations are often over the top and include features which won’t be in the final version set for release (e.g. advanced graphical shading features), akin to a bait and switch technique in which the best face is presented with the actual product which is less polished actually being delivered. This deception is intentional as it helps generate revenue which helps fuel the production of future gaming titles and franchises

One of the Key Factors Behind the Rise of the U.S. as a World Super Power

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The U.S. went from being an experiment in democracy and a colonial backwater during the 18th century, to the most technologically advanced and industrialized country in the world in the 20th century, with this incredible transformation occurring because of those who founded the country and their understanding that the U.S. could not farm its way to wealth, with innovation being encouraged and promoted. Because of this simple yet novel idea, ordinary people suddenly had the opportunity to invent and make life easier for society at large, and were incentivized to profit from these ideas because of patent protection. The Americans developed a system in which new ideas were sought after because they were profitable which is a much more powerful motivational factor than prestige alone or the will and desire to help the greater collective of civilization. It’s not that the U.S. population is more creative than other nations, rather it is because the U.S. government actively decided to back and support those who pursued invention by providing them with a high probability to a path of moderate to substantial fortune. Protecting invention is single handedly one of the most important and influential ideas which has ever developed within the U.S., and even during the modern era, countries which fail to inspire innovation and protect it from theft and exploitation, continue to play catch up with industrialized nations who do reward and promote innovation

Prince Albert’s Philanthropic Project of the South Kensington Museum

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Prince Albert owned the worlds largest collection of Raphael reproductions with over 50 unique portraits. Albert commissioned a photographer to go into the Vatican Museum in Rome, Italy and take photographs of all Raphael works. These photographs of course lacked color being a product of their time and technology, so hand painted versions were made using chromolithography technology. The intention of the collection was not simply to collect but rather to draw people into Windsor Castle to teach them about art history, which is actually the format in which modern day art historians teach artwork to students; in a photo library. Unlike most monarchs, Albert and Victoria wanted to feed the public with knowledge, art, and science. Albert believed that industry could place great works of art into the hands of the masses using manufacturing techniques which would cut costs dramatically. Albert was especially interested in batteries and their connection to various metals in different solutions. This borderline obsession was sparked when Albert seen a real rose turned to gold by dipping it into a chemical solution of chemicals which coated the rose, permanently changing its outer layer. This process is referred to as “electroforming” and involves dropping a dried rose into an electrically conductive material and attached to a battery. A solution of precious metal is prepared, typically gold, after which the rose is left to sit within the solution for a few moments. The rose attracts metal particulate within the solution because of its coating. Albert put on a great exhibition entitled the Great Exhibition of the Works of Industry of All Nations in 1851 which cost £335,742 which equates to £46,482,000 as of 2019 when accounting for inflation. The revenue from this project was £522,000 which equates to £72,269,000 as of 2019. Over 6,000,000 (6 million) people attended and exhibits from 25 countries were featured. Albert took the profits from this endeavor and purchased South Kensington Museum, a building which would be used solely for art, science, and industry to be displayed for the public. Because of Alberts involvement and enormous success, South Kensington Museum started to become referred to as “Albertopolis” meaning “City of Albert” in Greek. South Kensington Museum is the embodiment of Alberts enlightened belief that culture and learning should be at the very heart of any successful nation. South Kensington Museum opened on 1857 and is referred to during the modern day as the “Victoria and Albert Museum” or the abbreviation “V&A”. South Kensington Museum is the world’s largest museum of applied and decorative arts and design and sculpture and houses a permanent collection of over 2,270,000 (2.27 million) pieces. Alberts favorite place to get away in Buckingham Palace is the Print Room where his collection of Raphael’s are stored. Victoria could not bear to even enter the room for months after Alberts untimely death at age 42 in 1861

Christie’s Practice of Fraudulent Art Auction Bids and Investment in Modern Art

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Creating the illusion of a bid in the room by an auctioneer to ensure a reserve price is met is perfectly legal and is often done so that Christie’s turns a profit because they are solely commission based and without a sale, Christie’s actually loses money when factoring in storage, transport, and the brokering of the piece which involves many people behind the scenes as well as the auctioneer. Antiquities of the art world tend to sell at bargain price points so Christie’s has put much of its resources into living artists whose works sell in the millions of dollars instead of hundreds, thousands, or hundreds of thousands of dollars. Most of these newer works have been created within the past 20 – 30 years and provide commentary upon a specific moment in time often one which the purchaser remembers during their own lifetime (e.g. tank man in Tiananmen Square, China)