Insider Trading: Should It Be Abolished? Essay

Insider exchanging is characterized as â€Å" exchanging while possessing non-open data and whenever known to people in general, may prompt a significant development in a security’s price† . In Australia it is disallowed by insider exchanging guideline (IT guidelines) in the Corporations Law (CL) 1991 , however it was at first settled from proposals made by the Rae council in 1974 on the mining organization outrages . The most recent law transformed one single area to 20 wide and complex segments, causing investigate of Australia IT guidelines . Henry G Manne contended that IT guidelines ought to be canceled bolstered by three essential monetary contentions. This article will look at the expert and contra of every contention and shows that IT guidelines have ruined the idea of decency to the detriment of productivity, in spite of the target of any protections markets guideline to advance the two perspectives . 1. Insider exchanging could remunerate corporate business visionaries . Expert and Contra This contention is upheld via Carlton and Fischel who contended that the IT guidelines are the equivalent with setting government guideline of terms and states of business; like limit compensation rewards, investment opportunities, get-away leave, and the others which can inspire the executives for their innovative abilities . Anyway their presumptions disregard the contrast between the unpredictable offer cost and a specific measure of typical remuneration. As contended by Easterbrook, where there is an unpredictable offer value, the administration pay contention returns into a â€Å"lottery-ticket argument† . Since in the unpredictable offer cost, even educated dealers will barely anticipate the expansion or reduction of offer cost later on. The high vacillation balances the chance of losing their venture and getting benefit, which as called ‘compensation’. From the two limits, It can be presumed that remuneration contention can be legitimate if the offer cost is moderately steady in any case not all insiders can get their pay through insider exchanging. Director’s trustee obligation to Shareholder Be that as it may, in the event that IT guideline were just applied for a fluid market, what is the job of trustee obligation? In Exicom’s case trustee contention was built up where people who are dependent upon a legitimate relationship of trust and certainty, emerging from either an earlier relationship with the protections guarantor (ordinarily chiefs, representatives and corporate operators) or the other party to exchange ought not make a benefit from that position or permit an irreconcilable circumstance to emerge. Moore underpins IT guideline based on trustee obligation. He reasons that chiefs have some guardian obligation to their investor to completely uncover all data they could profit by. His thought is upheld by the way that in spite of the fact that there is no broad head that executives owe guardian obligation to investors (notwithstanding the organization), with the reason to forestall chiefs when in the situation of holding secret data to spread the it to outcasts , such obligation in perceived in Hooker’s case . Sub Conclusion Insider exchanging as a remuneration for corporate official is contended just occurred in a steady market where they can utilize the data to anticipate the pattern in any case the benefit pay go to be a lottery pay. Here guardian obligation of the insiders is addressed where in Hooker’s case it is conceivable that chiefs owe trustee obligation to investor despite the fact that there is no broad head on it. 2. Insider Trading Contributes to Market Efficiency Pro from Leland and Estrada Manne contended that ‘allowing a liberated market in data will have helpful impacts incomprehensible regarding administrative â€Å"disclosure†Ã¢â‚¬â„¢ . As of late, Leland and Estrada likewise expressed comparative thought that insider exchanging adds to advertise effectiveness through flagging where signal-exchanging by insiders pushed share value all the more rapidly towards its harmony cost. Star from Empirical Measures Theory Moreover, exact measure presents a hypothesis; the more data gets into advertise, the lower exchange cost, the more fluid the market and the littler instability created. Since financial specialists get progressively supportive data to anticipate showcase pattern, the exchange cost here is lower. Exchange cost is the expense to face the challenge if the organizations, which they put resources into, by one way or another default. Hence lower exchange cost is identical to bring down hazard, which can urge more financial specialist to exchange. As exchanging the market happens fundamentally in one stream (either purchase or sell) in view of the data they got, the unpredictability, which spoke to by the offer ask (distinction between the purchase and sell cites at any one time), diminishes. Subsequently liquidity increments. Proof from Real Study By and by, Dodd and Officer discovered proof that no noteworthy unusual returns (return of a security over its normal or anticipated return) happened on the day assume control over gossip was distributed, albeit some irregular returns ordinarily happened before the exposure of talk. This earlier unusual return must be a result of insider exchanging, as the unpublished data they have permit them to foresee the pattern up to takeover offer, hence, at the date of take over distributed, advertise as of now arrived at balance cost. Contra from Cox and Georgakopoulos and Response from Wyatt Notwithstanding, there are a few differences on Manne contention. In the first place, Cox guarantees that insider exchanging can't make the value development towards harmony cost simply by their own activities . Likewise microstructure hypothesis by Georgakopoulos, which expresses that whether support or against insider exchanging is relying upon the market liquidity . A fluid market as examined in the remuneration contentions will give more profit to insiders on the grounds that the votality is lower and they can without much of a stretch foresee pattern in stable cost, consequently, IT guidelines for this situation can be helpful. Then again, illiquid showcase leads both insider and outcast merchants away in any case the data they got since the votality is high and even unpublished data may simply let them bet on the security’s cost, consequently, in such market the nearness of IT guidelines has no impact to the market. The thought is that the clueless dealers is dishearten to include in advertise as a result of injustice emerge from the benefit making action by educated merchants, henceforth, diminishing the market adequacy. For all that, the two cases can be far fetched considering Wyatt recommendation that outcasts follow insiders activity and further can support advertise liquidity . His recommendation is likewise bolstered by the way that trader’s character is kept private, in this manner, clueless brokers can't be sure of the level of educated dealers which cause them to dishearten from exchanging. IT Regulation Distorts Market Efficiency Further issue is whether IT guideline increment advertise productivity or it simply increment the cost of consistence for organizations and money related administrations firms? On the off chance that IT guideline restrains advertise effectiveness, at that point it ought to be reexamined. IT guidelines in Australia strengthens continous revelation (CD) guidelines such in Crown Casino’s situation where the executive, who has no force for the company’s sake, revealed data to pariahs before the board unveiled it to the Exchange. The court stressed on the penetrate of continous divulgence explicitly on the maltreatment of the term ‘immediately’ . On the off chance that IT guideline is only a flip-instance of CD guidelines, at that point it is out of date, as CD guideline as of now oversees late exposure . Sub Conclusion nsider exchanging adds to advertise productivity by moving the offer cost all the more rapidly towards harmony cost is bolstered by exact measure which shows that insider exchanging increment showcase liquidity, and by Dodd and Officer finding on noteworthiness unusual returns preceding assume control over gossip rather than on the date of exposure. In spite of the fact that Cox and Georgakopoulos conflict with the idea, Wyatt reaction that their contentions can be the opposite, that educated dealers can be an open door for ignorant brokers to get benefit by tailing them rather than dishearten them by injustice. 3. Insider Trading and Long-term Investors Star and Contra Finally, insider exchanging does no noteworthy damage for long haul financial specialists , â€Å"whose showcase choices will be a component of time† . In detail, Manne affirms that the less regular somebody exchanges, the less critical impact of the out of line utilization of important data from insider exchanging they get. Such speculators simply make venture on the premise that they are convenient and not influenced by the offer value, which is influenced by insider exchanging. In any case, this view is addressed by Schotland . He contended that even long haul financial specialist needs money and when they need it they will consider to ait at a correct cost to sell it. Further, Manne propose that drawn out speculator can overlook cost to abstain from being hurt by the impact of insider exchanging, expect for one, which is the lost of not having inside data in the scope of the purchasing and selling cost so it is immaterial. Here Manne just alludes to one ven ture. However, what about when the financial specialists have mutiple (in which the regular condition to differentiate)? They may need to watch a progression of offer cost else they will wind up will sell it with no benefit in the wake of putting so much confidence hanging tight for it. Sub Conclusion Insider exchanging does no critical mischief for long haul financial specialists as they simply contribute based on time rather than share cost and just need to watch inconsequential misfortune from the important data abused by insider exchanging. The thought is completely protested by Schotland by contending even long haul financial specialists need money and ought to think about the correct cost to sell the offer. Additionally the unimportant misfortune just alludes to one offer, however by and by long haul financial specialist, for example, retirees differentiate sh

The Effects of High Glucose Intake

Post Traumatic Stress Disorder Essay Presentation Post horrendous pressure issue (PTSD) is an emotional well-being condition that presents in type of uneasiness issue, and it for the most part creates following introduction to an occasion or episode that is startling and generally connected with an expanded hazard or real event of extreme body hurt. These occasions surpass the adapting capacities of the individual, coming about into mental injury. Because of the injury, the influenced individual creates dread molding in their cerebrum, potentially due to certain mind synthetic concoctions that are discharged. A few structures in the cerebrum are likewise thought to experience decay. The danger of creating post horrendous pressure issue is additionally impacted by hereditary qualities and individual attributes, for instance youth experience, past introduction and previous conditions, for example, sadness, sex and level of presentation to injury (Fullerton Ursano, 2005). A great many people who build up this condition are the individuals who have been presented to horrible episodes in their adolescence or adulthood, similar to cataclysmic events, artificial debacles, mishaps, military battle, and savage physical maltreatment, as people or seeing another person experience the occurrences. Around 66% of the populace overall gets presented to noteworthy awful circumstances throughout their lifetime. The degree of introduction to or experience of an awful accident is reliably connected with the probability of creating PSTD. The advancement of post horrible pressure issue additionally shows critical relationship with poor financial settings, age, race, ethnicity, and work status. The influenced individuals experience ceaseless startling considerations as they review the alarming encounters, regularly having rest issues and feeling disconnected and getting pulled back. The patients create mental issues, for example, neuroticism, blame, troubles in fixation, poor adapting aptitudes, and over the top indications. The degree of social help accessible for the individuals who have been presented to horrible accidents is the most grounded determinant of the danger of post horrendous pressure issue (Fullerton Ursano, 2005). Post awful pressure issue is named intense, interminable or postponed beginning. Intense posttraumatic stress issue presents with indications that don't continue past a quarter of a year, while in the interminable structure the side effects last over a quarter of a year. Postponed beginning post horrendous pressure issue is the one where the manifestations begin showing up around a half year following presentation to the awful accident. When contrasted with typical pressure that is generally connected with intense responses that quickly come back to the ordinary express, the organic and mental systems in post horrendous pressure issue are ceaseless and regularly become extreme with time (Fullerton Ursano, 2005). Current treatment of post horrendous pressure issue incorporates presentation treatments and tension administration trainings as the principal line medicines. Pharmacological treatments, for example, the utilization of specific serotonin reuptake inhibitors have likewise been structured and demonstrated to be viable, however concentrated examinations are in progress to create other type of medications. Notwithstanding the conceivable viability of pharmaceutical mediations, mental medications despite everything remain the favored helpful methodologies for this issue (Keane, Marshall Taft, 2006). The result of the remedial intercessions relies upon the degree of social help, and absence of indications, for example, shirking, passionate desensitizing and hyperarousal. As per Keane, Marshall and Taft (2006), PSTD has been in presence for a long time however it got perceived in the 1980. This condition was normally connected to fighting, until examines showed the event of comparative manifestations in the non military personnel populace presented to cataclysmic events, mass fiascoes and sad mishaps. Preceding this, post horrendous pressure issue was distinguished by various names, for example, â€Å"shell stun, fight weariness, mishap depression, and post-assault syndrome† (Keane, Marshall Taft 2006, p.163). After the American Psychiatric Association characterized post awful pressure issue, it was commonly concurred that the condition came about because of awful accidents and not the recently seen singular shortcoming. In any case, these awful mishaps were taken to be stressors past the every day human encounters including war, normal catastrophes, synthetic debacles, and assault among others. Side effects of PSTD Side effects of post awful pressure issue much of the time change the patient’s individual life and can influence one’s practical capacities. These manifestations for the most part start following the horrendous experience, yet regularly they may seem a while or years since the presentation. These indications are characterized into four sorts including remembering, evasion, desensitizing and hyperarousal (Fletcher, 1996). Patients experiencing this issue every now and again remember recollections of the horrible occurrences in type of flashback and bad dreams. This remembering of horrendous accidents is frequently activated by improvements identified with the occasion. Evasion of scenes identified with the horrendous mishap is additionally a typical side effect introducing in people with post awful pressure issue. The patients demonstrate an inclination to maintain a strategic distance from improvements and triggers that are related with the awful recollections, and may take part in exercises to shield them from deduction or talking about such occasions. Deadness may likewise show as a method of maintaining a strategic distance from the horrendous recollections. Hyperarousal is another basic side effect in PSTD patients, whereby the casualties become exceptionally caution and post for dangers. This makes the patients to turn out to be truly touchy and experience issues in concentrating. The patients may likewise create dozing scatters, show savage conduct and frightened reactions (Rosen, 2004). Data preparing in patients with PSTD Different models have been created to clarify the memory and focus issues showed by patients influenced by post awful pressure issue. These models relate the intellectual issues with these patients with the adjustments in the mind structures that work in learning and memory. The main model is portrayed as dread structure, whereby the mind of the influenced people become customized to process data related with the undermining experience and ensuing physiological, physical and conduct reactions. Another data preparing model depends on psychological hypothesis, with a suspicion that the confusion advances just if an individual sees the awful occurrence in a way that makes the episode to get undermining after it has occurred. The view of the injury as being available outcomes into interruptions and remembering manifestations, nervousness, and over readiness. In this way, the influenced singular attempts to diminish view of the danger through conduct and intellectual adjustments, despite the fact that these progressions further sustain the indications (Rosen, 2004). Predominance of PSTD Epidemiologic investigations demonstrate that around 10 percent of the general populace experience PSTD eventually in the course of their life. Epidemiologic overviews likewise show that between a third and 66% of the total populace experience or witness injury eventually throughout everyday life. The most widely recognized types of horrible mishaps individuals get presented to or involvement with created nations incorporate grave mischief or demise, fire catastrophes, characteristic cataclysms, and dangerous mishaps. The most pervasive types of injury experienced by females are assault, sexual misuse and misuse, physical attack, and disregard, while physical ambush and military-related injury are increasingly common in guys (Fullerton Ursano, 2005). Post awful pressure issue can happen at any age, and the period it takes to create following presentation or encountering of an awful accident ranges from hours to years. The predominance of PSTD in everyone is higher in females when contrasted with guys, with an expected commonness of 10 percent and 5 percent separately. Among people presented to injury, the pervasiveness of post horrible pressure issue in guys is 8 percent, while in females it is around 20 percent. The commonness contrasts across sex lines are believed to be identified with the particular type of injury experienced. For example, it has been indicated that females who experience physical attack or are undermined with a weapon are at a high danger of creating post awful pressure issue when contrasted with men exposed to a similar injury. Thus, guys who experience sexual maltreatment are at a higher danger of creating PSTD when contrasted with the females who additionally experience a similar stressor. Moreover, presentation to relational viciousness among ladies is emphatically connected with later improvement of post awful pressure issue. When all is said in done, introduction to rel ational viciousness is unequivocally connected with the improvement of PSTD when contrasted with awful accidents that happen without a human culprit. Further investigations show that of the whole populace that experience or witness serious injury eventually in their life, it is under 20 percent who create post horrible pressure issue, consequently recommending the presence of many hazard factors (Fullerton Ursano, 2005). The pervasiveness is fundamentally expanded in nations where paces of savagery, wrongdoings and war are high, and furthermore in parts of the world that are increasingly inclined to normal fiascoes. More youthful age gives off an impression of being related with a higher danger of creating post awful pressure issue (Keanne, Marshall, Taft, 2006). Meta examination contemplates have additionally indicated that youngsters and adolescents who get presented to horrendous accidents are 1.5 occasions liable to create post awful pressure issue than grown-ups presented to a similar injury. These discoveries propose that the formative procedure of the turmoil in youthful people shifts from that of the grown-ups. Lower training accomplishment is additionally associa

Summer Survival for Parents of Children With ADHD

Summer Survival for Parents of Children With ADHD ADHD Parenting Print Summer Survival for Parents of Children With ADHD By Keath Low Keath Low, MA, is a therapist and clinical scientist with the Carolina Institute for Developmental Disabilities at the University of North Carolina. She specializes in treatment of ADD/ADHD. Learn about our editorial policy Keath Low Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on February 04, 2020 ADHD Overview Symptoms Causes Diagnosis Treatment Living With In Children Tommy Wong / Flickr Summer means warm weather, splashing in the pool, vacations and time off from the pressures of school. But for many parents of children with attention deficit hyperactivity disorder (ADHD), summertime can also be stressful because the kids are home. ADHD Summer Survival Tips Sometimes, people think about ADHD as only affecting school and academics. For some kids with ADHD, this may be the predominant area in which they experience challenges, but it is much more common that ADHD affects all aspects of life, including home life and family interactions. If you are a parent of a child with ADHD, here are some ideas for making the summer months less stressful, more productive and fun for you, your child and the whole family! 1. Structure Your Childs Day The school day provides your child with a regular routine that is fairly predictable in terms of the daily schedule. But when school is out for the summer your childs day may be wide open unless you create a new routine. Kids with ADHD benefit from the external structure that a routine provides. When their environment is organized, predictable and supportive, they have an easier time managing symptoms and regulating their behaviors. When developing the summer schedule, start by setting consistent wake-up times, snack/meal times and bedtimes for your children. Fill the schedule with fun and interesting activities. Children with ADHD can get bored very easily, and boredom is often a gateway to trouble as he or she tries to create some stimulation â€" or mischief. Keep in mind, however, that all children need downtime, too, so plan those times each day as well. When you are creating the summer schedule tailor it to your childs interests and needs. Try to plan activities in which your child gets sometimes for interacting with peers. Make sure all your kids get outside (with sunscreen) to play and engage in lots of physical activity. If your child can swim, the pool is a great outlet for exercise in the summer. Make sure your child is involved in the planning of activities. Get out a big calendar and have fun filling in the schedule together. Write the summer schedule out on the calendar and post it in an easily visible spot in your home so both of you can see what each day will bring. 2. Plan Academic Activities to Avoid the Summer Slide When developing your childs summer schedule, be sure to include times for academic learning opportunities and practice. It is so easy to go through the summer and forget about school, but children will lose academic growth â€" particularly in math and reading skills â€" over the summer (known as the summer slide) if they do not engage in educational activities. What makes this doubly important for kids with ADHD is that many of them also have accompanying learning disabilities. They can quickly lose academic gains without practice and repetition. So, schedule regular academic activities at home with reading and math to help your child maintain his or her educational level and to provide continuity and enrichment over the summer. Talk with your childs teacher and ask for suggestions and recommendations tailored to your childs educational needs. Because the rest of the year can be so busy with school, homework, sports or other after-school activities, many families find that summer is a good time to schedule formal academic tutoring lessons to help with specific learning issues. Be sure to make the educational time fun! Build in reward systems to help keep your child motivated. Schedule this time during the morning or whenever your child is freshest and most focused. Use this time to help bolster your childs academic skills and self-confidence. 3. Summer Camp Options You may find that having your child involved in a summer camp program helps structure his or her day and provides additional opportunities for fun, socializing, learning and success. When thinking about summer camps, keep in mind your childs needs. There are quite a few summer camps and treatment programs designed specifically for children with ADHD. If your child experiences marked problems in social interactions with peers, or if he or she is very impulsive and needs a good behavior management system, one of these specialty camps may be a good fit. 4. Choosing a Medication Break If your child is on medication to help manage symptoms of ADHD, there is often a question about whether or not to give the child a break over the summer months. The answer should be unique to the child. ADHD is a pervasive disorder that does not go away over the summer. Most children continue to experience challenging impairments in attention and mental focus, self-control, working memory, organization, time management, problem-solving and regulation of emotions  â€" whether or not the school is in session. Symptoms of ADHD, however, can affect each child in very individual ways. For some kids, the symptoms may be on the milder side or the child may struggle primarily with inattention in the educational setting. Perhaps this child does not experience any significant issues around peer and family relationships. For some children, a medication break or a lowering of the medication dose over the summer may make sense. On the other hand, ADHD does tend to affect all aspects of a childs life â€" getting along with others; following through with tasks; being able to stop and think through situations before reacting; the ability to maintain self-control and inhibit behaviors; to read social situations; follow through with directions; delay gratification, and just get through the day in a productive and positive way. If you are traveling over the summer on family vacations or if your child is attending camp or is involved in activities that require him or her to maintain focus, control his or her body, manage transitions, frustrations and emotions, and relate positively with peers â€" and your child is on medication that helps him or her to do this â€" then a medication break may not be in his or her best interest over the summer. If these areas are challenging for your child during the school year, they will continue to create the same challenges over the summer. Work together with your childs doctor to sort out the best approach to summer medication decisions. If there are side effects that you are worried about, and you have been hesitant to make those changes during the school year, communicate and plan with the doctor. The summer might be a good time to make those tweaks, adjustments or even medication changes as long as you can carefully monitor the situation to determine the effectiveness of treatment approaches.

Questions On Academic Integrity Seminar - 1710 Words

Cameron Rudasill Academic integrity seminar I do honest work. The words in this exercise will be mine, unless other sources are clearly identified. Cameron Rudasill from Stevenson University 1. Do you think Greenspan is being realistic or naive about the possibility of business ethics? I believe that Greenspan is being realistic about business ethics. In the article, he says that we should achieve success through work that has honor. Most business men in today’s society are honest and have fair values in mind. But I think the small percentage that are corrupt can taint the true honest hard working American. Greenspan also mentions in the article that he thinks that achieving success through honest work and dedication it will give a†¦show more content†¦2c. The Iowa Supreme Court referred to another case involving attorney plagiarism (Iowa Supreme Court Board of Professional Ethics Conduct v. Lane). In that case, the punishment for attorney Lane (suspension of his license to practice) was more severe than the punishment imposed on attorney Cannon. What distinction did the court make between these two cases? Do you agree with the court’s reasoning? The distinction between the two cases is that Lane tried to conceal his misconduct. He tries to deceive the court and then choosing to not respond to the court. I agree with the courts reasoning because it will teach the person their misconduct is unacceptable and if it happens again they will barred from practicing law. 2d. The state of Florida requires â€Å"personal appearances before the [disciplinary] board for public reprimands for disciplined lawyers† [italics added]. Do you think this kind of public shaming is too harsh? I believe if the board conducts themselves in a professional and honest manner than this sort of board is not too harsh. 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Evolution Of Management Theory X And Y, And Theory Z

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At the time of the Industrial Revolution, the United States had taken on many non-English speaking immigrants who felt their working conditions were not satisfactory and who also felt they were inadequately and improperly trained for the positions they held. Upper management noticed these issues with their employees and soon took actions to find a solution. Efficiency was the main focus for traditional or classical management which included bureaucratic, scientific and administrative management. Bureaucratic management has a much more structured approach to things; division of labor, set rules and guidelines and hierarchy are a few characteristics of bureaucraticShow MoreRelatedDiscussion Board : Perspective, Theory, And Practice1468 Words   |  6 PagesPERSPECTIVE, THEORY, AND PRACTICE I will be clarifying how reading Theory X, Y, Z and watched the media piece, Theory, affected my definition of theory. 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Armor Of Ancient Rome Essay ? Armor of Ancient RomeAncient Rome expended a great deal of economic resources and effort upon conquest andexpansion through military means. The role of armor was fundamental in this expansion as itplayed a significant role in the success of the Roman armies on the battlefield. There were threecommon requirements for armor construction throughout its history: The first was that armorhad to be flexible enough to allow the wearer freedom of movement; second, it also had to belightweight enough to be worn without tiring the wearer while providing protection againstopponents weapons; and third, armor had to be cost effective. These three aspects influencedthe evolution of Roman cuirass (lorica) design throughout Rome’s history. The central conceptin the study of Roman armor is that it was always a compromise between mobility, protection,and cost. There were at least four cuirass types in use during the first century A.D. These were themuscle, scale, mail, and segmented cuirasses with mail and segmented cuirasses being the mostpredominant. The study of these armor types relies upon three main sources of evidence:iconographic (e.g., sculpture, tombstones, monuments); archaeological; and literary sources. The evolution of Roman lorica was driven by the needs and circumstances of the RomanArmy. Armies of the 1st century A.D. were firmly established within the Empire and control fellsolely under the auspices of the Emperor. Increasingly the main strength of the Roman army, upto thirty legions, was garrisoned on the frontiers. Only a token military force, the PraetorianGuard, remained in Rome. The military situation in this period was seldom dormant. In the 1stcentury the invasion of Britain (A.D.43) necessitated the reorganization of legions andauxiliaries over much of north west Europe. Further reorganization occurred after the civil warof A.D.69, when the victorious Flavian dynasty dispersed disloyal units. As the Empiresexpansion slowed, permanent borders were established. Auxiliaries patrolled the borders andlegionnaires were stationed within the frontiers to act as a strategic reserve and intimidatepotentially rebellious provinces. The army can be divided into two distinct parts: t he legion and the auxiliary ( auxilia), with amarked social division existing between the two. Only Roman citizens could becomelegionnaires, while auxilia were composed of non citizens recruited from Romes client statesand tribes. These legions were supported by the non citizen auxilia consisting of infantry cohortsand cavalry (alae). A legion consisted of around 5,000 men which were mostly heavy footsoldiers. However, it is only possible to attempt a rough estimate of the men who constituted alegion. It has been estimated that the total number of Roman troops, including legions andauxilia, numbered more than 300,000 during the first century A.D. It has also been assumedthat the legionary and auxiliary troops were equipped differently. This notion is based onevidence from a single source, Trajans column, which shows clear distinctions betweenlegionary and auxiliary equipment. The early view put forward by historians such as Webster was that the equipment issued tolegionnaires was remarkably uniform throughout the empire. However, the archaeologicalevidence does not support this theory, showing that a wide range of types and ages of equipmentwas in use at any one time. Peterson argues that uniformity in the Roman army may have onlyextended to soldiers having their own serviceable body armor, helmet, weapons and shielddisplaying a common unit emblem. Bishop and Coulston suggest that in this period soldiershad to purchase their own equipment. The system encouraged the individual to be morerespectful of their equipment by introducing a sense of personal responsibility. Most of thisequipment may have been purchased from army stock, but soldiers may have been free to buymore elaborate or expensive items from private craftsmen. As this was probably beyond theeconomic means of most soldiers, elaborate cuirasses have been attributed only to soldiers ofcenturion ra nk or higher. Bishop further proposes that military equipment could be sold back tothe legions upon retirement or death of the owner, and therefore could be passed down to anumber of different owners. He cites evidence of equipment which has been found with severalowner inscriptions. The cost of this equipment would probably have forced recycling, and inconjunction with the repair of damaged equipment this may have meant that the life of an objectcould be expected to last for many years. These factors also suggest that the actual production ofnew loricae at any one time may have been fairly low. One of the most widely recognized of these Roman lorica was the so called muscle cuirass,probably Hellenistic in origin. This cuirass was molded on the contours of the muscles of themale chest which were reproduced in an idealized manner. This type of cuirass was probablyconstructed from iron or bronze, consisting of a high-waisted or hip length breastplate. Shoulderstraps hinged to the edges of the back plate, with their forward extremities tied down to rings onthe breast. These plates had side fastenings with perhaps two hinges or a pair of rings joined byties providing for the soldiers left and right flanks. None of these metallic muscled cuirasses ofthe Roman period have survived in the archaeological record. However, Etruscan metal musclecuirasses dating from 5th to the 3rd Century B.C. have been found. Muscle cuirasses have alsobeen believed to have been made of leather. However, a molded leather cuirass would have to bevery thick and rigid to have any defensive qualities. Robi nson suggests that this cuirass type wasprobably worn almost exclusively by emperors and top-ranking military leaders as a symbol ofRoman might and sovereignty. Another type of cuirass was the lorica squamata, also known as scaled or jezeraint armor. Scale armor is perhaps the oldest type of metal body armor. Peterson proposed that its originsdate to at least the 2nd millennium B.C., having a long history of use in Greece and the East. Despite its early origins it was used throughout the entire period of Roman dominance. Scalearmor was usually depicted with short sleeves, and the lower edges reaching the upper thighs. Scale armor was made from both iron and bronze. The manufacture of scale armor involvedsmall sections of metal sheeting of varying sizes being attached by wires or riveted to theirneighbors and sewn onto a suitably flexible foundation of hide or strong cloth. Early scale armorwas commonly joined by small twisted links of bronze wiring, positioned in horizontal rows,overlapping upwards and layered like scales of a fish or in the manner of roof tiles. Evidence ofparts of a bronze lorica squamata was found at the site of Corstopitum (Corbridge) inNorthumberland England. These scales were very small, and due to the expense incurred inmanufacturing such fine armor, Simkins proposes that the man, probably an officer, no doubtwould have purchased this armor himself. A similar group of 346 scales which was fo und inthe fort of Newstead (A.D. 98-100), of yellow bronze (perhaps a result of oxidization), are largermeasuring 2.9 cm by 1.2 cm. Generally, the defensive qualities of scale are inferior to mailarmor, being neither as strong nor as flexible. It was nevertheless popular throughout the Romanperiod, possibly because it appears that it may have been simpler to manufacture and repair thanother loricae (although presumably more difficult to maintain because of its intricateconstruction). Experimental archaeology conducted by Massey has tested reconstructions ofknown arrowheads against various body defenses used in Roman times. At a range of 7 meters,Massey argues that arrowheads seemed to penetrate this armor type one out of every twooccasions. He suggests that this may occur due to the shape of the scales and the way in whichthe scales have been assembled. Presumably the changing conditions of the test would alsoaffect the frequency of penetration. Further, it is concluded that tests i ndicated that when scalearmor had been strengthened by wiring in a series of horizontal rows, none of the knowncontemporary arrow types could penetrate it, although the scales were severely deformed. Amodern parallel would be modern body armor (kevlar), which will stop some bullets however,the impact may nonetheless cause severe trauma such as internal hemorrhaging. Carl Jung EssayThis softness allowed the metal to deform extensively, absorbing the impact of weapons anddenying them the resistance needed to penetrate effectively. Massey cites evidence ofcontemporary arrowhead types used against this type of armor. On no occasion did arrowheadsof any type tested afford lethal penetration. Shots directed at this type of armor either glancedoff or gave minimal penetration. This effectiveness was apparently due to a combination of thesoftness of the metal and the internal gap between the plates. Massey also proposes that up untilthe introduction of lorica segmentata in Claudian times there was no armor form in widespreaduse which could guarantee the wearers safety against arrow attack. This armor was alsoespecially fortified in shoulder-defense. As such it may have normally been employed byparticular legions, notably those fighting the Celts, whose style of fighting and use of weaponssuch as the long sword posed a particular threat to the head and shoulders of the lineinfantryman. Segmented plate armor had disadvantages as well. Most notable is the loss ofprotection to the thighs and upper arms. Simkins states that during the Emperor Trajans Daciancampaign, the Romans fought against adversaries armed with long scythe-like swords called falx. These were capable of reaching past the legionnaire’s scutum (a large curved shield) toinjure the unprotected sword arm. This weapon may have also endangered the soldiers legswhich from Republican times were bare, protection here being compromised for the sake ofmobility. However, the Adamklissi monument suggests that legionnaires in these two campaignsmay have augmented their protection with greaves and segmental armguards similar to thoseworn by gladiators. The archaeological record provides rich evidence of this type of armor. Excavation hasprovided more evidence of this form of cuirass than both scale and mail. The most importantdiscovery was made in 1964, at the site of the Ro man station of Corstopitum in Northumberland(Corbridge) at Hadrians Wall, when two complete sets of this type were found in a woodenchest buried below the floor of a timber building of the Flavian period fort. This is the only sitewhere this type of armor has been found in a reasonably complete state, despite the fact thatcopper alloy buckles, hinges, hooks and loops of this armor are a common find on 1st centuryRoman military sites throughout Europe and the Golan Heights in Israel, indicating itswidespread use. Another pattern of lorica segmentata has been identified and tentatively reconstructed fromfragments found in the well in the headquarters building at Newstead near Melrose in Scotland. Simkins suggests that this pattern was probably developed in the later years of the 1st centuryand is the model for the majority of representations of legionary soldiers on Trajans Column. It is difficult to tell how long the earlier Corbridge pattern lorica remained in use until it waseventually replaced by the Newstead type. They may have continued for quite some time afterthe introduction of the Newstead type for two reasons. First, like the replacement of mail bysegmented armor types, re-equipping legions with new armor was expensive; and second, armorwhich was still in a serviceable condition remained useful regardless of age. The Newsteadtype of cuirass is a much simplified pattern in which the elaborate fittings of the older patterns(such as buckles and ties) have been discarded. The hinges have been replaced by simple rivets,and the belt and buckle fastenings by hooks. The shoulder plates are riveted together and thegirdle lames are larger than previous lames, although probab ly reduced to five or six pairs, thelower two pairs being replaced by a single pair of wide plates. The inner shoulder-guard plate inthis type is a single strip instead of three plates hinged together, coming down much further atthe front and back. This deep inflexible breast and upper back plates were laminated in thesame way as the girdles and held together by internal leather straps. The simplification of thelorica segmentata indicates that earlier designs were probably over engineered and the complexcuirass types were both labor and maintenance intensive and more prone to fall apart. Thisform of cuirass was used extensively for most of this period due to its successful form. Incontrast to the earlier armors the lorica segmentata was flexible, lighter and easier to maintainand repair. The design of this armor also adapted and evolved in response to the fightingtechniques of a number of different enemies and the economic needs of Rome at this time. Armor has much to tell about the Roman Army, its method of waging war, and the economyof the first century. The change in military equipment illustrates a process whereby Romanforces borrowed the technology of other people whom they came into conflict. These adaptionsare illustrated by the cuirass forms taken from the Greeks, and the Celts. Innovation occurredusing the available military and civilian technology to counter a threat posed by a particularenemy. Thus by the 1st century A.D. much of the soldiers equipment, including the cuirass, wasderived from enemies of earlier periods. The four types of cuirass identified in this paper havetheir own characteristics and variations. They all have benefits or drawbacks in terms ofprotection, mobility and cost. There appears to be a trend toward the most favorable balancebetween these three factors which ultimately led to the introduction of lorica segmentata andthen its simplification of form. Bibliography? BibliographyBalent, M., The Compendium of Weapons, Armour Castles. New York: Palladium Books,1989. Bishop, M.C.†The Production and Distribution of Roman Military Equipment.† BARInternational Series 275, Oxford: 1985. Bishop, M.C., and Coulston, J.C.N., Roman Military Equipment. Haverfordwest: 1989. Bishop, M.C., and Coulston, J.C.N., Roman Military Equipment from the Punic Wars to the Fallof Rome. London: B.T. Batsford Ltd, 1993. Bohec, Y., The Imperial Roman Army. London: B.T. Batsford Ltd, 1994. Bunson, M., Encyclopedia of the Roman Empire. New York: Facts on File, 1994. Connolly, P., The Roman Army. Paulton: Purnell Sons, 1982. Griess, T.E., ed. Ancient and Medieval Warfare: West Point Military History Series. NewJersey: Avery Publishing, 1984. Massey, D., â€Å"Roman Archery Tested.† Military Illustrated: Past Present 74 (1994) : 36-38. Peterson, D., â€Å"Legio XIIIIGMV: Roman Legionaries Recreated (2).† Military Illustrated: Past Present 47 (1992) : 36-42. Robinson, H.R., The Armour of Imperial Rome. London: Arms Armour Press, 1975. Simkins, M., The Roman Army from Caesar to Trajan. Narwich: Osprey Military Press, 1974. Simkins, M., The Roman Army from Caesar to Trajan. Hong Kong: Osprey Military Press, 1994. Simkins, M., The Roman Army from Hadrian to Constantine. Hong Kong: Osprey MilitaryPress, 1994. Tarrassuk, L., and Blair, C. ed. The Complete Encyclopedia of Arms and Weapons. London:B.T. Batsford Ltd, 1982. Warry, J., Warfare in the Classical World. London: Salamander Books Ltd, 1980. Webster, G., The Roman Imperial Army of the First and Second Centuries A.D. London: Adams Charles Black, 1969. Ancient AuthorsPlutarch, Plutarchs Lives Vol.III, Translated by Arthur Hugh Clough. London: EverymansLibrary, 1971. Tacitus, The Annals of Imperial Rome, Translated by Michael Grant. London: Penguin Classics,1989. Caesar, The Conquest of Gaul. Translated by S.A. Hanford. New York: Penguin Classics, 1983. History Essays