I believe the answer is Homer
Rapid inflation, cyclical unemployment, war, hurricanes, and floods are all examples of non-diversifiable risk
This is a kind of risk that affects the macro economy or large numbers of persons or groups within the economy and as a result cannot be eliminated via diversification
Answer: What happened in the 14th century in China?
The Ming dynasty: 1368-1644
But a series of disasters in the early 14th century unsettles the dynasty. A civil war between rival Mongol princes breaks out in 1328. There is widespread famine. Disastrous floods cause armies of peasants to be press-ganged into heavy work on the river defences.
Explanation:
The answer is She will buy 80 pencils at 15 cents apiece.
Answer: Because human beings in their natural condition are trapped in competition and struggle with each other, they need a strong, absolute ruler in order to provide security and stability to society.
Details:
Thomas Hobbes published a famous work called <em>Leviathan</em> in 1651. The title "Leviathan" comes from a biblical word for a great and mighty beast. Hobbes believed government is formed by people for the sake of their personal security and stability in society. In Hobbes' view, once the people put a king (or other leader in power), then that leader needs to have supreme power (like a great and mighty beast). Hobbes' view of the natural state of human beings without a government held that people are too divided and too volatile as individuals -- everyone looking out for his own interests. So for security and stability, authority and the power of the law needs to be in the hands of a powerful ruler like a king or queen. And so people willingly enter a "social contract" in which they live under a government that provides stability and security for society.
Probably the most famous set of lines from Hobbes' Leviathan book describes what he saw as the natural state of human affairs without government -- one in which every individual had freedom, but that meant it was a situation of "war of all against all," or we might say, every man for himself. Hobbes wrote:
- <em>In such condition, there is no place for industry; because the fruit thereof is uncertain: and consequently no culture of the earth; no navigation, nor use of the commodities that may be imported by sea; no commodious building; no instruments of moving, and removing, such things as require much force; no knowledge of the face of the earth; no account of time; no arts; no letters; no society; and which is worst of all, continual fear, and danger of violent death; and the life of man, solitary, poor, nasty, brutish, and short.</em>
