Economic Analysis Essay Example for Free

Economic Analysis Essay The enthusiasm, as well as the anxieties that is generated by the working of the economy of the United States is not just US economy generates is not just obvious but also easy to understand. The United States, with a GDP of 13. 2 trillion USD, and a population of 300 million (with an average yearly per capita income of more than 44,000 USD), is the largest economy of the world (CIA Factbook, 2008). Its currency, the US dollar, even in the throes of its greatest financial crisis, is the world’s preferred currency, and its markets the world’s biggest. In diversity and amount, the natural resources of the country are greater than those of most other countries. Many US industries are global leaders, and it remains the favorite marketing target for companies from across the world. With the US being the largest trading partner for numerous north and south countries, a large portion of the global economy relies upon US consumption for survival; significant changes in its pattern can lead to global euphoria or gloom. The performance of the US economy is influenced by an assortment of local and international factors. Distinguished by particularly low government control, a guiding principle that was first chosen by the founding fathers and followed painstakingly ever since (Oppenheimer, Reddaway, 1989). Although the government stipulates regulations and ensures inviolability of contracts, most microeconomic decisions are taken by private firms and corporations. (Rowe Silverstein, 1999) Governmental and Federal Reserve activities occur mainly through the modification of tax policies, changes in interest rates, and control of money supply; their endeavor being to push the economy in chosen directions rather than to compel it to take up preferred paths. (Oppenheimer, Reddaway, 1989) The last two decades have been particularly turbulent for the economy, marked by sharp expansion, occasional slowdowns, and the occurrence, in 2008, of a slump of dimensions sharp enough to affect the economic fortunes of numerous nations and millions of people. This assignment aims to assess and analyze the performance of the economy from 1990 until the present day, taking up various economic developments, the reasons behind the same, and their local and global impact. Commentary Overview of 1990 to 2001 The economic performance of an extremely intricate and influential economy like that of the US relies upon various local and global developments like investments, agricultural, manufacturing and service activity, exports and imports, global and local commodity prices, currency strength, disposable incomes, and consumption patterns. It is also influenced by fiscal and monetary measures like changes in tax policies, interest rates on loans, and reserves of banks, as well as by ongoing developments like price rises, job levels, and induction of fresh participants into the work force. Whilst the United States is one of the leading exporters of coal, wheat, corn, and soybeans, its continuous and strong economic growth has increased its dependence upon other countries for oil and many other raw materials. In fact the country had become a leading consumer of practically every sort of raw material by the 1960s and growth continued to rise thereafter. The 1970s and the 1980s, the decades that preceded the 1990s, were difficult ones and were distinguished by slow economic growth and inflation. While the period was marked by the entry of Japanese industry onto the global stage, the oil price shocks, and the forced bailout of Chrysler, it also witnessed the emergence of the service industry and the numerous small businesses in the United States. Whilst the 1980s saw a reduction in inflation rates and the creation of millions of jobs, such developments were accompanied by drastic increases in military expenditure, Medicaid and Medicare costs, corporate debt and household borrowing (Julius, 2005). Thousands of banks failed because of a combination of reasons that included high inflation and interest rates, bad loans to developing nations and speculative real estate ventures. The total national debt reached a figure of 290 billion US dollars, the highest till then. The US economic recovery commenced in 1991 and continued for the rest of the decade; it was distinguished by a long period of constant growth and by strong performance in key economic indicators like growth, inflation, unemployment and interest rates. Real growth in GDP stayed at around 3 % for the whole period with a low of 2. 5 % and a high of 3. 9 % in 1998. Unemployment fell from a peak of 7. 5 % to 5. 6 % by the middle of the decade and to less than 5 % after 1997. â€Å"Americas labor force changed markedly during the 1990s. Continuing a long-term trend, the number of farmers declined. A small portion of workers had jobs in industry, while a much greater share worked in the service sector, in jobs ranging from store clerks to financial planners. If steel and shoes were no longer American manufacturing mainstays, computers and the software that make them run were. † (The 1990s and beyond, 2008) Inflation, which had reached dangerously high levels in the 1980s also moderated significantly and remained below 3 % for most of the decade. The only area that witnessed volatility was the stock market, with stock prices rising by more than 60 % in the closing years of the decade on the back of low unemployment and good growth figures. The Dow Jones Industrial Average, which had stood at around 1,000 in the late 1970s, went up to as much as 11,000 in 1999, adding substantially to the wealth of many Americans (Julius, 2005). Whilst Clinton, who occupied the Presidency from 1993 to 2000, declared the era of big business to be over in the United States, he worked to strengthen market forces in areas like long distance telephony, reduced the size of the federal work force and ensured the continuance of most of the New Deal innovations (The 1990s and beyond, 2008). The economy was also helped greatly by the collapse of the Soviet Union and the consequent enlargement of trading opportunities. Technological advances led to the introduction of a wide assortment of sophisticated new electronic products. Numerous innovations in telecommunications and computer networking led to the development of a vast IT industry and revolutionized the operating methods and ways of numerous industries. â€Å"After peaking at $290,000 million in 1992, the federal budget steadily shrank as economic growth increased tax revenues. In 1998, the government posted its first surplus in 30 years, although a huge debt mainly in the form of promised future Social Security payments to the baby boomers – remained† (The 1990s and beyond, 2008) The Economy in the 21st Century Whilst such developments led a number of economists to believe that the United States was entering a period of sustained economic growth, economic growth came to a halt in the early 2000s. Much of this was due to the slowing down of the investment boom and the economy went into recession in the second half of 2001, cutting a ten year period of economic growth. Along with slowdowns in investment and the widespread crashing of dotcom organizations the economy was terribly hurt by the World Trade Center attacks worsened the economic situation. The recession was short lived and lasted for a period of 8 months and whilst the labor force continued to grow, its rate moderated significantly. Whilst the actual recession was short lived the following years were ones of slow growth. Growth in GDP, which was estimated at 2. 5 % in 2002 continued to be slow in 2003 and unemployment rose significantly in 2003 (Julius, 2005). Huge corporate scams, like the ones at Enron and WorldCom led to erosion of domestic confidence and the recovery process remained slow and sluggish. The downturn in the US economy, which had spurred global economic growth during the 1990s led to a worldwide economic downturn, not just in Europe but also in Japan, Latin America and Southeast Asia (Julius, 2005). Consumer spending increased only after the commencement of the war in Iraq and was accompanied by the improvement of most economic indicators. The movement of the economy in the 2000s can be broken up in three distinct sections, the recession of 2001 followed by sluggish growth in 2002 and 2003, sharp economic growth from 2004 to 2007 and financial crisis that enveloped the economy after the housing crash and the mortgage disaster of 2007 (The 1990s and beyond, 2008). The years following 2003 witnessed a recovery powered by consumer spending as the Federal Reserve lowered interest rates and the government reduced taxes. The economy grew at an average annual rate of 3. 1 % during this period, a rate not much lower than that achieved during the growth phase of the 1990s. The economy was also bolstered by a USD 500 billion spending on homeland security and the wars in Afghanistan and Iraq, a jump of 4 trillion USD in household debt and a 50 % increase in prices of real estate (The 1990s and beyond, 2008). With the Fed engineering finance at low interest rates, consumer debt, credit card, and vehicle loans went up from 7. 9 trillion USD to 12. 2 trillion USD, and US consumers went on a spending spree that had no precedent. Inflation was fuelled not just by increasing demand but by sharp increases in oil prices, which went up from 28 dollars a barrel in 2001 to the mid 60s in 2006 and finally to USD 148 a barrel in 2007 before the current crisis brought it crashing down. â€Å"The rise in GDP in 2004-07 was undergirded by substantial gains in labor productivity. Hurricane Katrina caused extensive damage in the Gulf Coast region in August 2005, but had a small impact on overall GDP growth for the year. Soaring oil prices in 2005-2007 threatened inflation and unemployment, yet the economy continued to grow through year-end 2007. † (CIA Fact Book, 2008) Tragedy struck the US and global economy in 2007 in the form of the mortgage crisis when economists were predicting a boom the likes of which the world had never seen before. The majority of the problems impacting the US economy have come about because of the development of housing crisis. Whilst housing and construction activities had grown sharply since 2004, they slackened significantly in 2006 after successive interest rate increases by the Federal Reserve made monthly housing loan repayments substantially more costly for home mortgage holders. With loans having become far more expensive to service, the housing industry went into a slump in 2006 with far lesser home sales on a Year on Year basis. The continuation of this phenomenon into 2007 led to a sharp economic slowdown and was in many ways responsible for the precipitation of the mortgage crisis. The sub prime mortgage financial crisis in the USA first evidenced itself in 2006, and assumed global proportions in mid 2007. With a combination of a number of economic causes like increased monthly repayment figures and declining home values restricting the inability of mortgage holders to meet their repayment terms, mortgage lenders, who until the had ridden the wave of real estate expansion, were hit with huge cash deficits and the inadequate securities to make good their losses (Bernanke, 2007). The emergence of the sub prime crisis led to the opening of a virtual Pandora’s Box of wrong and risky banking practices, and the financial bankruptcy and mortgage foreclosures of thousands of borrowers. It also led to the bankruptcy of huge financial institutions like Lehman Brothers, the virtual collapse of a monolith like Citibank, the collapse of stock markets, the extinction of stock market fortunes of thousands of Americans and finally to a tremendous crunch in availability of funds and credit. Apart from creating havoc among financial institutions the crisis has also led to tremendous slowing down of economic activity, the loss of thousands of jobs, increasing unemployment, contraction of GDP and enormous economic uncertainty. The sub-prime crisis has put a huge doubt over broader economic functioning by choking spending and by impacting the progress of the building sector. Whilst most impartial observers are likely to attribute the sub prime crisis to the greed of borrowers and lenders, the lax policies of regulatory authorities is seen by many to be a major contributory factor for the development of this crisis. Laxity in the activity of the Federal reserve, which reduced interest rates in 2001 and kept them low for five years, is considered to be a major reason for the reckless borrowing and lending practices that finally led to the sub prime crisis. The collapse of major banks and financial institutions has led to the development of an enormous credit crunch, with banks unable to lend money to businesses and to individuals. â€Å"So far this year, 15 banks have failed, compared with three last year. And Wall Streets five biggest investment firms were swallowed by other companies, filed bankruptcy or converted themselves into commercial banks to weather the financial storm† (Bush: Bailout Plan †¦, 2008). With losses not being confined just to mortgage lenders, many banks lost billions of dollars in the bad mortgage debts that they had bought from mortgage companies. This in turn led to sharp reduction in the money available with them and made them unable to engage in any further lending activity. Businesses across a wide spectrum of industry and service sectors find it difficult to obtain funds for operations and growth, a phenomenon that is seriously affecting their regular working, and leading to contraction of business activity, reduction in production and sales, and to reduction of workforce. Thousands of people have been laid off in the banking sector and job losses are now increasing across the spectrum of business companies, not just in the United States but across the world. Reduced employment figures, accompanied by lesser money availability with people who are fortunate enough to hold their jobs, is also leading to sharp drops in demand for a range of products, including automobiles and household goods, and leading to crisis conditions in various sectors of the economy. The US automobile industry, which has been going through a bad patch for the last few years, has been particularly badly hit, with mostly all companies announcing production cuts and job terminations. Conclusion The duration and severity of the current financial crisis has led many analysts to compare it with the events of the Great Depression, when 9,000 banks failed. Others however feel that while the current crisis is undoubtedly severe it is far away from reaching the levels of economic grief that characterized the depression of the 1930s. Contracting money supply, tax increases, and protectionist tariffs, factors that were associated with the Great Depression are not present today. Unemployment levels, while rising today are also far below the levels of 25 % that were breached in the 1930s. Today’s problem remains associated with the crisis of banking solvency, as is evident from the bankruptcies, forced takeovers and virtual nationalization of large private sector banks. Banks are desperate to first balance their banks and are looking for funds to stay afloat and manage their existing obligations rather than in providing fresh credit. The government of the United States has come out with a bailout plan that was first estimated at 700 billion US dollars and has now come up to nearly a trillion dollars, a figure equal to the GDP of many prosperous West European economies. The bailout plan envisages the provisioning of hundreds of billions of dollars that the treasury can use to for the purchase of distressed assets, particularly mortgage backed securities and for making capital injections into banks. The purpose of the bailout plan is to protect banks, stabilize the economy, improve liquidity, restore confidence in financial markets, and encourage consumption. The Federal Reserve has in recent weeks joined with other major central banks to reduce interest rates and the world’s top economic powers are getting together to take concerted action. Such efforts are yet to show significant results and stock markets continue to remain depressed. â€Å"Slowing consumer demand, labor productivity and, potentially, trade growth worsens the prospects of a mild recession. If the bailout does not soon restore financial stability-and many economists doubt that it will-bailing out the broader economy will require additional public funds and increase burdens on future taxpayers† (Gokhale, 2008) Economists also estimate unemployment to increase to hit 7. 5 % by next year and most are in agreement that while the current crisis may not prove to be as severe as the great depression, economic recovery does not appear to be immediately visible and that the economy will remain difficult even if financial markets were to stabilize. In the meanwhile Americans will most probably have to live with shrinking salaries and reducing net worth at least for 2009.

Fahrenheit 451 by Ray Bradbury :: essays research papers

Fahrenheit 451  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  The novel Fahrenheit 451 was wrote by Ray Bradbury. The setting takes place in future times. The main character (protagonist) in Fahrenheit 451 is, ‘Guy Montag’. Guy Montag has been a fireman for ten years and he doesn’t realize that he is not joyful towards his life. He never questioned the joy of midnight runs. The plot of the story is basically how Guy turned from being an ignorant person into being a person filled with intelligence and a new outlook on life. Guy is a normal man that can’t find his true happiness within. 451 degrees is the temperature that books burn. Literature is taboo in this futuristic society, and Guy’s job is to burn any books or news clippings he sees, however his views change for the better further in the novel.   Ã‚  Ã‚  Ã‚  Ã‚  The author Ray Bradbury created a world where literature is not allowed. He’s trying to show how bad our world would be without writings and poetry. Guy is one of the many firemen who are supposed to burn every book or writing that they see. People caught with books in their house were forced out of the house while the firemen would burn the house down. The climax of the story is when Guy meets a seventeen-year-old professor who brings the life of writings back into vision. Guy soon realizes that he is unhappy, because he can’t express himself through reading novels and most of all poetry. â€Å"†¦And Guy Montag the same person suddenly realized what he had to do†(Bradbury 89) this is the climax of the story because; Guy realizes that he doesn’t want to live in a world without Literature.   Ã‚  Ã‚  Ã‚  Ã‚  The best scene in the novel was when Guy met his old professor Faber for the first time in thirty years. Faber impounded the thoughts and beauty of Literature into Guy’s head making him a more out going person. This was truly the time when Guy realized that he use to love reading. Faber would read some poems to Guy, and Guy loved every minute of it. Guy was seeing things in life much more beautiful through poems. Faber taught guy to look at the moon and the clouds as beauty. This was the final turning point in Guy’s life. â€Å"I haven’t read writings to anyone for forty years ago when schools were starting to die off.†(Faber said to guy)   Ã‚  Ã‚  Ã‚  Ã‚  I can’t understand how these people in the future of this novel were able to give up reading.

Cultural History Essay

Since long time ago, Bra has defined fashion and beauty among women. The history of Bra is linked to social history of the status of women which entails both the evolution of fashion and the changing views of the body of a woman. Since time immemorial, women have used various garments and devices to cover, elevate and restrain the breasts. Over a period of time the emphasis of bras has changed from the functionality point to fashionable point. This fact means that in current period bras are part of fashion of a woman. Origin of the Bra The origin of bra is believed to be in 2500BC worn by the Minoan women who resided in the island of Crete in the ancient Greece. These women used to wear garments that looked like Bra whose aim was to lift up their breast and boost them. Since then, there has been tremendous change in the shape of the breast with different social meanings. Evolution of Bras The evolution of bra starts with the Corsetry which was worn by the Cretan Women. The Cretan woman stood with bare breasts and the waist and hip corset shown above the decorative part of her underwear. The aim of the corset among the Cretan women was as a symbol of beauty and was aimed at showing off the breast. It is believed that bare breast had a cultural and religious significance. Around 450bc, the Greek started wearing a bodice tied above the breasts leaving the breasts naked. This Small band of material was referred to as Apodesme and was introduced after the corsets were prohibited. Apodesme played a functional role as they prevented the breast moving while walking. The bra like structures accompanied with fashionable clothes of that time. In many of the 18th century paintings show ladies wearing free falling, pleated loose dress backs. It was probably developed from the over gown that was worn in the 17th century. Under the pannier dress was perfectly crafted laced stays that were made of many pieces of whale bones. These stays were backstitched by hand and were very beautiful and decorative. The stays supported and raised the breast to a sharp point in the front as well as defining a trim shape. The stays always matched the dress as the bones in these stays were placed laterally across both the back and front shoulder blades to ensure that the front remained straight and an upright back. Although women had clothes that provided support to the breast such as crinolines and bustles in Victorian age, corsets started to reappear in 18th century and this was evident with Edwardian Era. During Edwardian era, Edwardian Corsets started making a big impact in women fashion. Fashion favored mature women as it exploited the curves of a highly corseted shape. The young and the old women laced themselves so tightly that they distorted their figures to get am s shape associated with that period. Health corsets were greatly favored in 1890s and 1900 and were designed with an aim of assisting the women in breathing. Aches Sarraute of Paris designed health corset with an aim of aiding health instead of endangering it. She introduced the straight fronted busk that left thorax free. It was also designed to support and raise the abdomen instead of forcing it downwards. She rightly aimed at reducing pressure on vital female organs dispensed with constricting curves at the waist which was a common feature among all corsets. Corsets after 1907 were straight as women’s obsession on small waist had reduced. The corsets of 1907 achieved a long slim figure. These corsets had had elastic gussets inserts which were supposed to increase the level of comfort. The new longer styles of 1912, corsets increased in length reaching the knees making it difficult for women sitting down. These corsets were designed for beauty purposes as fashion played a major role in their development. During this period, there was a shift of attention from metallic corsets and the concept of bra started to appear. (Workman, 1996) The word Bra was developed and first reported in America copy of Vogue in 1907. The original French name of brassier meant a soldiers arm. The First World War contributed to evolution of bras where women abandoned corsets and started wearing bras. During this period, the term brassier started to appear in high profile women magazines and eventually appeared in Oxford English dictionary in 1912. (Elizabeth, 1976) In 1913, Mary Phelps Jacob, a New York socialite, made a backless brassier from two silk handkerchiefs and some ribbon after discovering that the corsets were too restrictive when a woman was dancing in night clubs. Mary sold her patent to Warner Brother’s corset company for 1500 us dollars. After the year 1918, bras were made of lace bands with straps. The best bras at that time were the Symington side lacer which was a reinforced bodice. The side lacing was aimed at flattening the bust when it was tightened. It was at this time that the term bra changed from brassier. (Elizabeth, 1976) In 1930s the bra became more sophisticated and the home sewn version of bras started to diminish during this period. In 1928, entrepreneur William and Ida Rosenthal developed bra by introducing the cup sizes and bras for all the stages of a woman. Warmers developed the alphabet bra which was made in a set of sizes that were corresponding to alphabetical letters. This is as a result of women gaining interest in the size of their breast and other women breast. The women interest in these types of bra was as a result of aggressive marketing and the changing role of women in the society. During this period, bras became a major industry and there was great improvement in fiber technology, patterns, colors and varieties of the bras. There was increase in innovation such as sized cup, adjustable strap, increased elasticity and padded breast for small sized breast. The marketing of bras during this period targeted the younger women as beauty was an important aspect in them. The desired feature in 1930s was a pointy bust and this further increased demand for a forming garment and bras fitted well for this function. In 1940s, Clothing was determined by the Second World War. During this period, advertisements of clothes were based on patriotism. The highly structured conical pointed bullet bras were used as protection clothes whereby in the military fraternity, the female soldiers were advised to wear them for anatomical support, good taste and for morale. During this period, bra enhanced the concept of the sweater girl. Sweater girls often wore bullets bras which contributed to the development of later brassieres. The war had an impact on the flow of materials as there was shortage of material which resulted into women producing their own bras from parachute silk and old wedding dresses. Commercially manufactured bras were made from minimum amount of material and hence bore the utility mark. This led to the emergence of utility bras. In 1950s, the bras were typical long line stitch and fashion was a major contributing factor towards the development of bras. The long line conical bra gave support silhouette for girls who wanted to be like film stars sweater girls like Jane Russell. The bras got better as use of nylon materials made them more attractive, lighter and easier to wash. Pretty 1960s was a period that was characterized by increased interest of quality and fashion of bras. There was increased demand for maternity and mastectomy bras and increase in the use of washing machines led to increase in preference for durable bras. There was increased marketing promotion such as wearing bras 24 hours a day. This period was marked with cultural changes which represented a great threat to bra market. These counter culture to bra production included civil right movement and feminism which greatly opposed women wearing bras. During this period, there was development in the form of bras which were seamless, flattering and sexy and were more appealing to teenage girls. The invention was referred to as wonderbra invention. These Bras tugged the breast together and pulled them forward and hence they were a means of attraction. They were marketed as a form of luxury. The material used became durable, light weight and elastic. In late 1960s, bra and other feminine emblems became targets of feminist activism. The feminists viewed bras as objects which reduced women as sex objects. Some women started questioning the role of bra and this led to protest against 1968 miss American beauty pageant. For example, Germaine Greer stated that bras were absurd invention aimed at reducing the status of women. In 1968, they were a protest against Miss America beauty pageant by 400 women coming from New York Radical women in Atlantic City convention hall. The demonstration took place after Democratic national convention and the protestors placed bras, high heeled shoes, hairsprays and other beauty apparatus seen as symbols of oppression of women in a freedom trash can placed on the ground. This was a clear sign of protest against bra although no real burning of the bras took place. There was also another protest in 1970 which received wide coverage and was perceived as sexual liberation. This protest although seen by people as breaking of the law was somehow fruitful as many women stopped . This led to some stores such as Berkeley Roos closing Bra department due to poor sales. The protest led to development of ‘no bra’ by Rudi Gernreich in 1964. This bra was light, transparent stretch netting and had a simple shape. The fine layer of foam in the bras made the cups to stand up on the end (Pederson, 2004) The ‘burning of bra’ by feminist led to innovations in fashion industry in order top win back the lost customers. Gossard launched its wonderbra crusade in 1968 which led to introduction of original wonderbra. At first 36C was the top size of this innovatory under wired bra that was a necessity for V neck dresses of late sixties caftans which had ling necks were changed by the cleavage from a wonderbra. In case where one was in need of larger bra, a bra replacement fastener was used as an extender. Inserts of extra lagging or foam rubber could be inserted into small pockets in the wonderbra to increase the fullness where there was no bust. In 1990s, silicon implant scare caused the women to turn to bras as the best option of improving their breast size. The wonderbra became best seller in 1990s. In 1916s there was the presence of bra slips which were common for short skimpy dresses. The return of cleavage was recorded in 1990s . In a blonde ambition tour; Madonna was sported wearing sported ice unguent coned circular sewed cup on her Gaultier corset. Gautier first made designs of breast that were based on the conical breasts of 1980s but received full approval after Madonna used it in a number of her functions and hence sexy lace Bras came back into business. In 1990s there was the introduction of very plain tactel underwear slips which gave a good line beneath dresses making it possible to wear unlined dresses successful without static build up. Bra industry was further promoted during this period by the quest for women who had shed their breast in 1960s to have more figure control especially when wearing the straight sheath dress that were back in fashion. During this period, there was pursuit for cleavage by utilizing water, air and silicone pads and improvement in this development enhanced the sales of fashion companies in 21st century as they put more emphasis on breast management and improvement. The change in fashion trends resulted in different types emerging to suit different fashion needs of women. Cleavage enhancers are types of bras which have a plunging neckline which is important for maximum cleavage. The pads add an additional lift and the bra fully characterize bust hence ideal for low necklines. There are other fashionable bras referred to as Convertible/strapless which go up to five ways on a strapless bra often having molded padded cups that offer support and shape to the breast. They have seam free cups that are not visible under clothes. Bras do not only serve as fashion apparatus but they also play a big role in sports. Sport bras are perfectly constructed to provide a maximum support, compresses the breast and hence minimizing bouncing by the breasts. The material fabric is important in drawing moisture away from the body hence keeping the body comfortable. Silicone bra is a type of bra comes in different sizes from cup size A, B C; D. It does not have any strap. It is flexible and sticks tightly in conformity with the woman’s bust as it has self adhesive coating. It is made from high quality silicon gel. It is easy to wash, it has no strap and occurs in a range of colors and so the user has a wide choice of the colors she desires. This bra can be reused many times after laundering. Push ups and inflatable brassieres is a type of bra introduced in mid 1990s and added major sex appeal to the USA market. It was pioneered in 1960s by Fredricks of Hollywood . The look was classic pieces of soft cup inflated into a cone-shaped point. During this period, Singer and Dancer Madonna played a big role in making this bra to be famous. This bra has undergone much innovation such as volume adjustment systems, pairing of the sleek looking bra with air extricable padding. The bra has a molded cup and wireless lifts. It has a weightless padding which gives the cleavage a slight projection. It has barely three Bralettes. It is found in soft cup, Camisole like sheers as well as lacy under wire creations which exhibit double cleavage of their full cup counterparts. (Steele, 2001) Sex openness among the current time women In 1950s to 1980s feminists played great role in trying to liberate women from oppression by men. They tried as much as they could in transforming the working and business environment to suit women and this resulted in many of them getting jobs and becoming more liberal especially in their sexual lives. In the past, feminists opposed beauty apparatus which they considered as being tools which reduced women as sex objects. This did not get support from all the women as beauty was still valued b women and so they continued using beauty apparatus and fashion determined what they wore. Currently the society has changed greatly and as a result of empowerment, women have become more liberal and hence more open to sixths is depicted by the clothing they put on which more is revealing than in the past years. Also increase in innovation by fashion industries has played a major role as these companies strive hard to market products which are said to make women look sexy. Improved technology especially in the entertainment sector has contributed a lot to women becoming more sexual open as they mostly emulate the lifestyles of the entertainment stars. (Kunzle, 2004) Conclusion Innovation has played a major role in shaping the fashion in different time span. Bra comes out clearly as a major fashion tool and from its evolution, it can be concluded that it has played a central role in women fashion and enhancing beauty among the women. Women have considered fashion as an important aspect in their life and this is evident in the different variety of beauty apparatus they have been having since time immemorial. In the contemporary times, women open sexuality show that women are liberalized and hence free to select any type of lifestyle and clothing to put on. Reference List: Elizabeth, E. , (1976). â€Å"Underwear: A History. † New York, NY: Theatre Arts Books Kunzle, D. , (2004). â€Å"Fashion and Fetishism:† Thrupp, UK: Sutton Publishing Limited Stephanie, P. , (2004) â€Å"Bra: a thousand years of style,† Newton Abbot: David & Charles Valerie, S. , (2001). â€Å"The Corset: A Cultural History. † New Haven, CT: Yale University Press. Workman, N. , (1996). â€Å"From Victorian to Victoria’s Secret: The Foundations of Modern Erotic Wear. † Journal of Popular Culture. 30. 2, 61-73

Race Relations