The Internet Of Things Is Defined - 1705 Words

Introduction The internet of things is defined as the development of the internet where every object used in daily activities has a connection to the internet allowing these things to either send or even receive data. These objects would be equipped with sensors that gauge the surrounding parameters including brightness or distance and transmit this data to the internet for use in various applications. For instance, eCLOUD is a form of artwork that was done by Aaron Koblin, Nik Goods and Nik Hafermaas and it is located in the San Jose Airport. It is made from various Polycarbonate tiles that ranges from transparent and the opaque states. The states are controlled by weather in various National ocean and atmospheric locations around the globe. Data collected is then used to enhance simulations that represent the weather in various locations by ensuring that these tiles are turned on and off in a given pattern. These simulations are seen within the available cloud sculpture and on a dynamic displa y that has been placed in the airport’s terminal. The internet of things has primarily made it into various design circles in which the main concern is the users and the application areas more than the underlying technical solutions. Everything surrounding people will function like the media and mediators with a blurred difference between the tangible or physical materials. The following essay will dwell more on the new pervasive concept of materiality that builds on the overallShow MoreRelatedProject : Enhancing Network Security Utilizing Software Defined Networks1257 Words   |  6 PagesState Of Art Project: Enhancing Network security Utilizing Software Defined Networks (SDN) The idea Internet technology was implemented in the early 1970’s. Rapid growth of the Internet is constantly being observed from the past two decades. Internet actually elevated the world of technology to the next level. It became so common that most day-to-day activities were dependent on the Internet. Mass usage of the Internet made things simple and was considered as one of the most reliable sources. ItRead MoreEthics And The Internet Essay1707 Words   |  7 PagesEthics and the Internet â€Å"Access to and use of the Internet is a privilege and should be treated as such by all users of this system (Internet Activities Board 1989).† If people would understand this statement and accept the truth of this statement, then the world would be a better place for everyone on the internet. There are an estimated 2.1 billion people that use the internet worldwide (Miniwatts Marketing Group 2011). The majority of people that use the internet are polite, civilized, and decentRead MoreHow Technology Can Play Improving Education Systems862 Words   |  4 PagesTechnology, as we all know, is helping and improving many disciplines of life. Technology, in Britannica Encyclopedia, is defined as the application of scientific knowledge to the practical aims of human life (Britannica, 2009).  Using technology in education for the purpose of better understanding is a positive step taken by most of the schools, colleges and universities all around the world. Technology can play vital role in improving education systems. You can see electronic gadgets and computersRead MorePrivilege Or A Necessity : The Internet896 Words   |  4 Pages Privilege or a necessity: The Internet. Do you believe that the internet is a privilege or a necessity? How would you feel if the internet didn’t exist? Many believe that it should be either a human right or a civil right. Although these may sound the same or similar, there is a huge difference between them and also a different meaning between the two. According to HG.org Human rights is defined as ‘’ generally thought as fundamental rights. They include the right to life, education, free expressionRead MoreThe Cyber Physical System Of Intelligent Manufacturing878 Words   |  4 Pagesbut also it leads the security issues of the system [10, 12]. In general, as one of the essential technologies, the Cyber-Physical System is the front-page research target for intelligent manufacturing. 2.2 Internet of Things The Internet of Things is defined as the network of physical things, such as components, devices, machines, vehicles and so on, which objects can collect and exchange data with automatically communicating without human interaction [13]. These data are required variously (e.gRead MoreEssay on Hackers- Who Are They? And What Do They Do?1007 Words   |  5 PagesHacking today A. More like exploration in the 60s and 70s B. Cannot call themselves hackers II. Different Types of hackers A. A hacker defined B. A cracker defined C. A phreaker defined III. You do not have to be intelligent A. Not like you have seen on television B. Programs used are highly accessible on the Internet C. Some start out with trial and error VIII. Online Legalities A.nbsp;nbsp;nbsp;nbsp;nbsp;Unauthorized access to, or use of a computer Read MoreThe Descent into a Digital Culture900 Words   |  4 Pageswhat will be said about our culture another hundred years in the future. What is the one thing that has defined us as who we are? A section on our slow ascent into socialism may be in order, or maybe a chapter on our obsession with going green. However, I would suggest that the first chapter in a humanities book of 2113 on our culture title â€Å"The Descent into a Digital Culture†. Our culture is most defined by the digital lifestyle that the majority of us live. In this day and age one does not leaveRead MoreComputer Mediated Communication Theory Is Defined As A Type Of Human Communication1548 Words   |  7 PagesComputer-mediated communication theory is defined as a type of human communication that occurs through the use of two or more electronic devices. Human-computer interaction involves the study, planning, design, and uses of communication between people and computers. The computer serves as the network for the communication between the two individuals. There is a source of information that is sent by the sender through the network, also known as the source of noise, to the receiver to reach its destinationRead MoreThe Dangers Of Internet Addiction Essay1645 Words   |  7 PagesThe internet is by far one of the greatest inventions of all time for many reasons. The internet allows people to share ideas, meet old friends, and even express their problem s to the masses. It allows for the spread of ideas and information at a phenomenal speed. When a natural disaster, death, or even an important presidential speech occurs, you can find information about whatever happened almost immediately. This speed of information transfer has become a vital role in people s lives, jobs, andRead MoreStudy on Customers Perceived Risk When Shopping Online756 Words   |  3 Pagesdecision, they make the decision on certain products. ïÆ'Ëœ Time saving: Time is considered as one of a factor that is related with intention to purchase in a shopping. Consumers have their own time, whether to shop or not from the internet. According to (Jensen, 1990), making the shopping trip as soon as possible refers to the time-saving oriented consumers and they prefer store choices favoring quick shopping; people who dislike shopping and approaching for time saving retail stores

Research Method Case Scenario Essay - 1125 Words

The Research Method Case Scenario A. The research scenario question I choose that could be studied using the scientific method is question 1: How much do reading scores change from the beginning of the school year to the end of the school year? â€Å"Scientific method is an approach to knowledge that relies on collecting data, generating a theory to explain the data, producing testable hypotheses based on the theory, and testing those hypotheses empirically† (Morris amp; Maistro, 2012, pg 8). The steps of the scientific method that I will be taking to conduct my research are: ask the question, do background research, construct a hypothesis, test my hypothesis by doing an experiment, analyze my data and draw a conclusion, and communicate my†¦show more content†¦We can give each student a book to read from their grade level. The teachers can monitor these students on how well they are doing, how long it takes them to finish reading the book, and how many times did they need help reading a word or understanding what the word means. For each student the results will be recorded and then measured again at the end of the school year, when they will take the same type of exam again. Conclusion: Once the experiment is completed and we have collected all of our data, a conclusion can be drawn. B. Based on the Research for Question 1, I can hypothesize that the elementary school students will improve their reading skills by the end of the school year then at the beginning of the school year. C. One of the research methods that I have choose to use is the Naturalistic Observation. In this experiment, I will pick a classroom to observe the students reading skill from the beginning of the year till the end of the year. I can observe each student’s performance on how well they are doing on a day to day basis on their reading skills. Moreover, I can keep track of the children’s’ reading improvement by seeing how much each student needs help and how long it takes them to complete the exercises assigned by the teacher. I will be able to conclude which students’ showed more improvement in their reading skills and which students’ showed p oor improvements or no improvements at all from the beginningShow MoreRelatedUse Of Our Knowledge Of Digital Forensics1489 Words   |  6 Pages Digital Forensics Scenario Supervisor – Mr. Ernest Foo Use our knowledge of Digital Forensics to set up a challenge scenario. We need to set up and develop evidence that can be examined to determine a sequence of events. Scenarios can include disk forensics, network forensics and memory forensics or a combination of all. Prasad Prasannakumari Sasikumar [n9065041] 8/14/2015 â€Æ' Title The present period can be seen as the time of the digital revolution, described by boundless, simpleRead MoreDesigning Web Based Information Systems Essay1189 Words   |  5 Pages K. V. Chandrino a research scientist at the Software Knowledge Engineering Lab, IIT, NCSR Demokritos, working on Multimedia Information Extraction, attempts to define the seemingly straightforward process of web based information systems in his 1998 article. 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Powell-Laney (2010) reviewed several studies that attemptedRead MoreBeh225 Week One Checkpoint Research Method765 Words   |  4 PagesYes Research Methods Checkpoint Research Methods Checkpoint: BEH225 Week One For this Checkpoint, I completed Appendix B: Research Methods Matrix, and prepared a recommendation to be presented to the Psychologist explaining the rationale behind my choice. SCENARIO: A psychologist is planning to conduct a study that would examine pathological liars and the quality of their romantic relationships. You have been asked to provide the psychologist with a recommendation for which research methodRead MoreA Roadmap For The Asean Economic Community ( Aec ) Based On The Eu Model1119 Words   |  5 Pagesfor the ASEAN Economic Community (AEC) based on the EU model: Potential scenarios for Vietnam after the AEC’s establishment. Introduction AEC is the term used of ASEAN Economic Community which is the community of countries in Southeast Asia that planned to create one big market. This critical review examines a final project with title â€Å"A roadmap for the ASEAN Economic Community (AEC) based on the EU model: Potential scenarios for Vietnam after the AEC’s establishment†, that was written by Hieu LinhRead MoreCase Report On Australian Banks1473 Words   |  6 Pages Case report 3 Australian banks in Asia Name : Thi Dai Trang Le (Tracey) Student ID: LETTO1401 Tutor : Lorna Sedman Table of Contents 1. Introduction 3 2. Issue identification 3 3. Critical Discussion 4 4. Recommendation 5 5. Conclusion 5 Reference list 6 Introduction: Asia market are growing faster which is a seductiveness to Australian business. There are Australia’s â€Å"big four† banks : ANZ, Commonwealth Bank, NAB and Westpact which are operating in AsiaRead MoreInternet Field Trip1725 Words   |  7 PagesAssignment #2: Internet Field Trip Forecasting Methods Genius forecasting - This method is based on a combination of intuition, insight, and luck. Psychics and crystal ball readers are the most extreme case of genius forecasting. Their forecasts are based exclusively on intuition. Science fiction writers have sometimes described new technologies with uncanny accuracy. There are many examples where men and women have been remarkable successful at predicting the future. There are also many examplesRead MoreMarketing and Market Research1746 Words   |  7 Pages | | |Marketing Research | Copyright  © 2010, 2008, 2005, 2002, 2001 by University of Phoenix. All rights reserved. Course Description This course covers basic research methodology applied to marketing issues. Students study methods and techniques for collection, analysis, and interpretation of primary and secondary data for customer and businessRead MorePersonas : Shortcomings And Improvements1236 Words   |  5 Pagesintroduced the concept of â€Å"personas†, an archetype of users with a precise description of his characteristics and goals, which will be attempted to satisfied through the design process [1]. As a user-centred method which exclude real users from the main design process [2], this distinctive design method has been controversial for decades. Personas has been considered and validated beneficial by numerous researchers since 1999, in consonance with their studies and practices [3]. Among positive opinions

Objectives of the Firm free essay sample

The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms, however, might not, and many times do not, make decisions based on the profit-maximization objective, or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization, (2) pursuit of personal welfare, and (3) pursuit of social welfare. Although firms are assumed to make decisions that increase profit in standard economic analysis, real world firms often pursue other objectives on a day-to-day basis. Some firms set their sights on maximizing sales. For other firms the owners or employees are inclined to enhance personal living standards. And more than a few firms take steps that promote the overall welfare of society. In some cases, these other objectives help a firm pursue profit maximization. In other cases, they prevent a firm from maximizing profit. Profit Maximization Profit maximization is the process of obtaining the highest possible level of profit through the production and sale of goods and services. This is the guiding principle underlying the analysis of short-run production by a firm. In particular, economic analysis is assumed that firms undertake actions and make the decisions that increase profit. Profit is the difference between the total revenue a firm receives from selling output and the total cost of producing that output. Profit-maximization means that a firm seeks the production level that generates the greatest difference between total revenue and total cost. Consider how profit maximization might work for The Wacky Willy Company. Suppose that The Wacky Willy Company generates $100,000 of profit by producing 100,000 Stuffed Amigos, the difference between $1,000,000 of revenue and $900,000 of cost. * If profit falls from this $100,000 level when The Wacky Willy Company produces more (100,001) or fewer (99,999) Stuffed Amigos, then it is maximizing profit at 100,000. Alternatively, if profit can be increased by producing more or less, then The Wacky Willy Company is NOT maximizing profit at the current level of production. Suppose, for example, that producing 100,001 Stuffed Amigos adds an extra $11 to revenue but only $9 to cost. In this case, profit can be increased by $2, reaching $100,002, by producing one more Stuffed Amigo. As such 100,000 is NOT the profit maximizing level of production. * In contrast, suppose that producing 99,999 Stuffed Amigos reduces cost by $11 but only reduces revenue by only $9. In this case, profit can also be increased by $2, reaching $100,002, by producing one fewer Stuffed Amigo. As such 100,000 is NOT the profit maximizing level of production. Sales Maximization A reasonable, and often pursued objective of firms is to maximize sales, that is, to sell as much output as possible. Clearly sales lead to revenue, meaning that maximizing sales is also bound to maximize revenue. But as the analysis of short-run production indicates, maximizing sales does NOT necessarily maximize profit. So why do firms do it? Are firms unreasonable? Are they irrational? Do they NOT understand the basic economic principles of short-run production? For some firms, the answers to these questions could be yes. But for other firms, sales maximization is actually a reasonable, even better, alternative to profit maximization. Consider, the day-to-day production of Wacky Willy Stuffed Amigos. Suppose the President of The Wacky Willy Company, William J. Wackowski, issues a corporate directive to sell as many Stuffed Amigos as possible, to maximize sales. Is Willy Wackowski wacky? It might be that Mr. Wackowski has no knowledge of basic economic principles. Alternatively Wacky William might have more business sense than it appears. In particular, if the price received from selling Stuffed Amigos is greater than the cost of producing each one, and looks to remain that way regardless of the quantity produced, then a reasonable goal is to maximize sales. If sales are greater, then so too is profit. Wacky Willy does NOT maximize profit under these circumstances. That is, it does not produce the quantity that achieves the highest possible profit. However, with each Stuffed Amigo produced, profit increases. In fact, Wacky Willy might not KNOW the profit-maximizing production level. All it knows is that selling more Stuffed Amigos, increases profit. While sales maximization can serve as a means of pursing profit maximization, it can also prevent a firm from maximizing profit. The reason, of course, is that if sales become so large that the cost of production increases such that marginal cost exceeds marginal revenue, the maximizing sales does not maximize profit. Pursuit of Personal Welfare The people who make decisions for a business are, in fact, people. They have likes and dislikes. They have personal goals and aspirations just like people who do not make decisions for firms. On occasion these people use the firm to pursue their own personal welfare. When they do, their actions could enhance the firms profit maximization or, in many cases, prevent profit maximization. How about a few examples? Once again, consider William J. Wackowski, the president of The Wacky Willy Company. Perhaps Willy enjoys the finer things in lifea large house, fancy cars, and expensive vacationswhich require a hefty income. As the primary stockholder of The Wacky Willy Company, when the business maximizes profit, then William J. Wackowski benefits with more income. In this case, the pursuit of personal welfare coincides with profit maximization. Alternatively, suppose that the Mr. Wackowski hates the color purple. He simply refuse to produce ANY purple Stuffed Amigos. However, market studies clearly indicate that buyers want purple Stuffed Amigos. Moreover, the purple fabric that would be used to produce purple Stuffed Amigos is significantly less expensive than other colors. Mr. Willy clearly is wacky in this case. His purple-phobia prevents profit maximization. William the Wackster might also decide to enhance his corporate lifestyle at the expense of corporate profit. He could, for example, give himself a bigger, more luxurious (but unneeded) office, a higher (but unneeded) salary, a company jet (also unneeded), season tickets to Shady Valley Primadonnas baseball team (clearly unneeded) and other (unneeded) amenities that are NOT needed to profitably produce Stuffed Amigos. These improve Williams personal welfare, but at the expense of corporate profit. Pursuit of Social Welfare The people who make decisions for firms also have social consciences. Part of their likes and dislikes might be related to the overall state of society. As such, they might use the firm to pursue social welfare, which could enhance or prevent the firms profit maximization. How might William J. Wackowskis pursuit of social welfare enhance or prevent profit maximization of The Wacky Willy Company? Suppose that William wants a cleaner environment. As such, he might implement more costly environmentally friendly production techniques and materials. He does his part to clean the environment, but at the expense of company profit. Then again, Mr. Wackowski might feel that government environmental quality regulations restrict capital investment and economic growth. As such, William might have The Wacky Willy Company use part of its advertising budget to promote this view point. He might even use company revenue to set up the Wackowski Foundation for Policy Studies that is both a scientific think tank and a special interest lobbying organization with the goal of reducing environmental quality regulations. While the pursuit of social welfare is likely to reduce company profit, it could have the opposite effect as well. Such activities could give The Wacky Willy Company a likeable public image that motivates people to buy more Stuffed Amigos than they would otherwise. In fact, some firms use the pursuit of social welfare as one aspect of their overall advertising efforts. They enhance their public image at the same time they do something good for society. Natural Selection Whichever objective a firm pursues on a day-to-day basis, the notion of natural selection suggests that successful firms intentionally or unintentionally maximize profit. That is, the firms best suited to the economic environment, and thus generate the most profit, are the ones that tend to survive. The natural selection of business firms is an adaptation of the biological process of natural selection, in which biological entities best suited to the natural environment are the ones that survive. The concept of economic natural selection means that those firms that generate the greatest profit are the ones that avoid bankruptcy and survive to produce another day. While firms might pursue sales maximization, personal welfare, or social welfare, only those firms that also maximize profit remain in business. 2) The following   is from chapter one in the text   Financial Management and Policy, by James C. Van Horne, Copyright 1974 by Prentice-Hall. It is classic finance. THE OBJECTIVE OF THE FIRM In this [course], we assume that the objective of the firm is to maximize its value to its shareholders. Value is represented by the market price of the company’s common stock, which, in turn, is a reflection of the firm’s investment, financing, and dividend decisions. Profit Maximization vs. Wealth Maximization Frequently, maximization of profits is regarded as the proper objective of the firm, but it is not as inclusive a goal as that of maximizing shareholder wealth. For one thing, total profits are not as important as earnings per share. A firm could always raise total profits by issuing stock and using the proceeds to invest in Treasury bills. Even maximization of earnings per share, however, is not a fully appropriate objective, partly because it does not specify the timing or duration of expected returns. Is the investment project that will produce $100,000 return 5 years from now more valuable than the project that will produce annual returns of $15,000 in each of the next 5 years? An answer to this question depends upon the time value of money to the firm and to investors at the margin. Few existing stockholders would think favorably of a project that promised its first return in 100 years. We must take into account the time pattern of returns in our analysis. Another shortcoming of the objective of maximizing earnings per share is that it does not consider the risk or uncertainty of the prospective earnings stream. Some investment projects are far more risky than others. As a result, the prospective stream of earnings per share would be more uncertain if these projects were undertaken. In addition, a company will be more or less risky depending upon the amount of debt in relation to equity in its capital structure. This risk is known as financial risk; and it, too, contributes to the uncertainty of the prospective stream of earnings per share. Two companies may have the same expected future earnings per share, but if the earnings stream of one is subject to considerably more uncertainty than the earnings stream of the other, the market price per share of its stock may be less. For the reasons above, an objective of maximizing earnings per share may not be the same as maximizing market price per share. The market price of a firm’s stock represents the focal judgment of all market participants as to what the value is of the particular firm. It takes into account present and prospective future earnings per share, the timing, duration, and risk of these earnings, and any other factors that bear upon the market price of stock. The market price serves as a performance index or report card of the firm’s progress; it indicates how well management is doing in behalf of its stockholders. Management vs. Stockholders In certain situations the objectives of management may differ from those of the firms stockholders. In a large corporation whose stock is widely held, stockholders exert very little control or influence over the operations of the company. When the control of a company is separate from its ownership, management may not always act in the best interests of the stockholders [Agency Theory]. [Managers] sometimes are said to be satisficers rather than maximizers; they may be content to play it safe and seek an acceptable level of growth, being more concerned with perpetuating their own existence than with maximizing the value of the firm to its shareholders. The most important goal to a management [team]of this sort may be its own survival. As a result, it may be unwilling to take reasonable risks for fear of making a mistake, thereby becoming conspicuous to the outside suppliers of capital. In turn, these suppliers may pose a threat to management’s survival. It is true that in order to survive over the long run, management may have to behave in a manner that is reasonably consistent with maximizing shareholder wealth. Nevertheless, the goals of the two parties do not necessarily have to be the same. Maximization of shareholder wealth, then, is an appropriate guide for how a firm should act. When management does not act in a manner consistent with this objective, we must recognize this as a constraint and determine the opportunity cost. This cost is measurable only if we determine what the outcome would have been had the firm attempted to maximize shareholder wealth. A Normative Goal Because the principal of maximization of shareholder wealth provides a rational guide for running a business and for the efficient allocation of resources in society, we use it as our assumed objective in considering how financial decisions should be made. The purpose of capital markets is to efficiently allocate savings in an economy from ultimate savers to ultimate users of funds who invest in real assets. If savings are to be channeled to the most promising investment opportunities, a rational economic criteria must exist that governs their flow. By and large, the allocation of savings in an economy occurs on the basis of expected return and risk. The market value of a firm’s stock embodies both of these factors. It therefore reflects the market’s tradeoff between risk and return. If decisions are made in keeping with the likely effect upon the market value of its stock, a firm will attract capital only when its investment opportunities justify the use of that capital in the overall economy. Put another way, the equilibration process by which savings are allocated in an economy occurs on the basis of expected return and risk. Holding risk constant, those economic units (business firms, households, financial institutions, or governments) willing to pay the highest yield are the ones entitled to the use of funds. If rationality prevails, the economic units bidding the highest yields will be the ones with the most promising investment opportunities. As a result, savings will tend to be allocated to the most efficient users. Maximization of shareholder wealth then embodies the risk-return tradeoff of the market and is the focal point by which funds should be allocated within and among business firms. Any other objective is likely to result in the suboptimal allocation of funds and therefore lead to less than optimal level of economic want satisfaction. This is not to say that management should ignore the question of social responsibility. As related to business firms, social responsibility concerns such things as protecting the consumer, paying fair wages to employees, maintaining fair hiring practices, supporting education, and becoming actively involved in environmental issues like clean air and water. Many people feel that a firm has no choice but to act in socially responsible ways; they argue that shareholder wealth and, perhaps, the corporations vary existence depends upon its being socially responsible. However, the criteria for social responsibility are not clearly defined, making formulation of a consistent objective function difficult. Moreover, social responsibility creates certain problems for the firm. One is that it falls unevenly on different corporations. Another is that it sometimes conflicts with the objective of wealth maximization. Certain social actions, from a long-range point of view, unmistakably are in the best interests of stockholders, and there is little question that they should be undertaken. Other actions are less clear, and to engage in them may result in a decline of profits and in shareholder wealth in the long run. From the standpoint of society, this decline may produce a conflict. What is gained in having a socially desirable goal achieved may be offset in whole or part by an accompanying less efficient allocation of resources in society. The latter will result in a less than optimal growth of the economy and a lower total level of economic want satisfaction. In an era of unfilled wants and scarcity, the allocation process is extremely important. Many people feel that management should not be called upon to resolve the conflict posed above. Rather, society, with its broad general perspective, should make the decisions necessary in this area. Only society, acting through Congress and other representative governmental bodies, can judge the relative tradeoff between the achievement of a social goal and the sacrifice in the efficiency of apportioning resources that may accompany realization of the goal. With these decisions made, corporations can engage in wealth maximization and thereby efficiently allocate resources, subject, of course, to certain governmental constraints. Under such a system, corporations can be viewed as producing both private and social goods, and the maximization of shareholder wealth remains a viable corporate objective.

Russian History Consolidation Of Democracy In Post-Soviet Russia Intro

Russian History Consolidation of Democracy in Post-Soviet Russia Introduction The fall of the Communist regime in the Soviet Union was more than a political event. The powerful interaction and fusion between politics and economics that characterized the state socialist system created a situation that was unique for the successor states of the Soviet Union. The penetration of the Communist regime into every facet of life left the Russian people with little democratic traditions. Russia faces the seemingly impracticable task of economic liberalization and democratization. This is combined with a necessity to answer nationalist and ethnic questions that have plagued Russia for centuries. This paper addresses the problems of creating a stable democracy in Russia. The prospects for a stable democracy in Russia are limited at best. I will outline some of the concerns that academics have in the consolidation of Russian democracy. What is paramount to note is that a stable democracy must adequately address what Ken Jowitt calls the ?developmental trinity?: nation-building; capitalism and democracy. The dilemma that is especially relevant to Russia it that these conditions are often contradictory. The often messy business of politically reconstructing a nation defies traditional democratic ideals. The establishment of democratic institutions can hinder the development of a market economy and, conversely, programs that are designed to enhance capitalist expansion often are antagonistic towards democratic goals (Jowitt 7). These seemingly endless Catch-22's are at the heart of difficulties facing Russia in its attempt to create a stable democracy. The Process of Creating A Nation-State The question of who is the playing the game and what makes the playing field is an important one for the Russian Federation. Ethnic and nationalist questions plagued the Soviet Union and continue to stress the Russia Federation during its nascent period. The dynamics of center-periphery relations provides Moscow with some of the greatest challenges in establishing a stable democracy. Phillipe Smitter writes, ?There is no simply democratic way of deciding what a nation and its corresponding political unit should be? (Smitter 66). Later in his article, he writes ?those that have not yet resolved the dilemma of defining their national and territorial boundaries are unlikely to make much more progress in other domains? (Smitter 73). The dilemma facing the Russian Federation is that it finds itself with a charge of establishing and following democratic institutions, while at the same time facing secessionary pressures that seem to require extra-democratic means to preserve the integrity of the nation. Nationalism in multiethnic areas in the Russian Federation has provided a substantial challenge for democratization. There is a direct relationship between democratization and ethnic peace (Smitter 72). In a democratically weak society, ethnicity assumes a stronger role, and when democracy and ethnicity are balanced, political stability is possible. As a result of a lack of democratic institutions and channels for dialogue, Russia's inhabitants are now increasingly identifying themselves as members of ethnic groups rather than as citizens of the Russian Federation (Drobizheva). An important development in center-periphery relations is the growing importance of ?economic nationalism,? an effort to create an economic basis for political independence. Economic nationalism is a protective defense against the Russian federal government's economic dominance. Alternatively, it is also a sign that the republics wish to retain relations with Moscow since politics remains primarily in the hands of the center (Drobizheva). For example, Tatarstan and Sakha-Yakutia both have a wealth of natural resources, giving them a potential advantage in economic development and a desire to establish control over these resources. Tatarstan, for example, strives to sell its o il at world market prices in foreign markets to generate income, and in 1993-94, the local governments in Tatarstan and Yakutia sought economic decentralization in Russia by refusing to pay federal taxes. Consequently, an agreement reached between the federal government and the republics gave the latter what they wanted: increased economic autonomy (Drobizheva). Further inquiry into the agreements with Tartarsan demonstrates the flexibility the Yeltsin regime is willing to employ in dealing with possible powder-keg situations. A treaty signed on February 15, 1994 attempted to mollify the tensions on both sides. The treaty affirmed Tartarsan right to its own ?international and economic relations? and, as previously noted, provided substantial autonomy in economic issues