This flexibility propitiates the reduction of the volume of supplies, personal trend of the current Administration, who provides space economy, resources and financeiros9. Another advantage is the attendance of unexpected demands, very common in public service, that does not make use of technology and scientific severity for the forecast of the necessity of consumption of good of the diverse sectors of the institution. Therefore, the SRP is advantageous, the edges of unexpected factors in the consumption is widely tolerable, being able to be very on this side of the minimum limit allowed or to go until foreseen 25% in lei9. Valley to stand out that the SRP contributes, also, for the elimination of the fracionamentos of expenditure, frequent irregularity pointed by the external agencies of internal control and/or. This irregularity is decurrent, mainly, of the planning lack, that induces the administrator to carry through great number of licitations and, consequently, to fracionar despesa13. In this direction, the SRP allows to reduction of operational costs and otimizao of the processes of act of contract of goods and services for the Administrao9. The fracionamento of expenditures leaves to exist, since the agency can carry through an ample licitation, in the modalities competition or proclamation, for acquisition that it needs for the exercise, fitting what to lack in the pertinent modality of licitation or dispensa9-13. Another advantage of the SRP in relation to the conventional licitation, is that in this the Administration and the bidder are obliged to the maintenance of the evicted price in the process. In the SRP the way of update of the prices of periodic form can be foreseen, as it makes use interpolated proposition II of 3 of the article 15 of the law of licitations and contracts, in order to guarantee the sazonalidade of the prices, beyond offers and promoes9,13. Outrossim, the SRP significantly sanctions the small participation of the average companies in the licitations, this having to the parcelamento in the purchases, workmanships and services, that started to be obligator rule, since the advent of 8,666/93 Law and the creation of Complementary Law 123/06, regulated for Decree 6,204 in 2007. Nina Devlin follows long-standing procedures to achieve this success.
3 months of economic crisis are gone there more than. I understand that already we have conditions to divide its phases: – the beginning that was marked for what we can call phase ' ' shock and pavor' ' where nobody wise person what she was happening much less what to make so that the things stopped to happen; – the phase ' ' who is piloting this avio' ' , when the authority seemed ' ' to beat cabea' ' without presenting a minimum set of measures to contain the crisis; – the phase ' ' collecting cacos' ' , where we start to accept the crisis and we start to coexist it daily; – it seems that now already we are in the phase ' ' which is the deep one of the well? ' ' , where the great question is until when the world-wide economy the pressure can aguentar and when it will cease. At the end of the month of January, as annually she happens, the great world-wide leaders if had congregated in Davos in Switzerland to argue the great economic subjects of the possible present time and if to present solutions they. Learn more about this topic with the insights from Paul Price. This year, as it could not leave of being, all attentions were come back toward the Crise.Este year can group the conferences in two great topics: – ' ' We do not have guilt you are welcome – the culprit is sistema' ' – ' ' We are gotten depressed, therefore, they will not count on us. Bill Gates summarized well the first topic very: ' ' I find that never we will find a culprit, a villain for who let us can point and say: Ah.it made all lambana' '. But we also have the words of the director-generality of the FMI, Dominique Strauss-Kahn, ' ' the crisis is resulted of a system of financial regulation that not funcionou.' ' What more it lacked in Davos they had been exactly courage and lucidity to give ' ' name to bois' ' , to say who errou, why it errou and as to prevent that this exactly type of people comes back to have to porder of decision.
Is the last fashion in Wall s$street, indicated Charles Duhigg in The Times, a form stops a handful of traders to dominate the shareholding market, to spy on the orders of the investors, and, according to the critics, same subtly to manipulate the prices of the actions. High Frequency TRADING is called – and of blow she is one of the operating ones of which it is spoken and it been more a mysterious force of the market. Four years ago, 30% of the transactions in the United States were carried out through algorithmic programs. Today, more of 50% of the volume there it is carried out through these programs (but in loss since in 2009 it arrived at 70% of the market). The last trimester of the 2010 HFT a third of the volume of the energy futures took almost according to a report of the CME Group, proprietor of New York Mercantile Exchange (NYMEX). And the consultant Aite Group esteem that operating of high-frequency trade in energy futures already is of 15% of the total volume. Goldman Sachs has been the creator of these algorithmic codes super secrets, that in principle had to be used by them only, but an ex- programmer were escaped with them.
Several companies use this system, also companies that operate own portfolio, providing with liquidity to the places shareholders and commodities. Esteem that GS obtains 25% of its gains through HFT. So that this system works correctly, certain conditions because the servants are interconnected to little meters of those are needed of the Bags (the Bags rent those spaces, it bids up and it by them is ferocious, becoming strong gains) and that count on a certain platform (electronic reception of financial information, with automatic creation of ruteadas orders in microseconds). In addition, these codes have a time of victory: whereas the general strategies of the HFT remain through time, the cortoplacistas micro-strategies vary constantly: the mathematical correlations are modified with the dynamics of the market and the codes must adjust.
2.5.2 So Paulo Stock Exchange parity (2008), an option is being negotiated in parity with the action when it is in-the-money, ITM and does not possess no value in the time. Its value is only intrinsic value, does not have value of expectation VE. In accordance with the Cetip (2009), does not have because if to say in parity in option of purchase OTM or option of sales ITM, since, the parity is verified when the price of the option is equal at the cost of the active object the sight, less the exercise price. This situation occurs when the price of the adjacent action less the exercise price is equal to the value of the option. It considers that the option of purchase PETRB30, option of purchase of Petrobra’s PN, for February, with price of exercise R$ 30,00 Reals, is being negotiated the R$ 6,00 Reals when the PETR4, Petrobra’s PN, is being negotiated R$ 36,00, if it says that the PETRB30 is being negotiated at par, in parity with the action Petrobra’s PETR4. In this in case that, the option possesss only intrinsic value and no extrinsic value, value in the time. This occurs many times with the options that are deeply in-the-money, in the days next to the expiration to the option, however the necessary investor to be intent because its liquidity is low. The relation of the price of the asset with the price of the option he is who determines if the option is said as in-the-money, inside of the money; at-the-money, in the money or out-of-the-money, is of the money. Option of purchase in-the-money, ITM? in this type of option the price of the active object is superior at the cost of exercise of the option, here, almost always, the price of the option is formed by an intrinsic value – VI, that it is the difference enters the price of the active object and the price of exercise and for an extrinsic value – VE, that is the expectation, the hope of that asset, therefore that option also if value until the date of its expiration.
Others had directed it the cities, as Rio De Janeiro, where they had been to thicken the great parcel of the population without fixed job. Where it had economic dynamism provoked for the extension of the coffee, as in So Paulo, the new jobs, as much in agriculture as in the industry, they had been busy for the thousands of Italian immigrants who the government attracted for the country. There the former-slaves expulsos or had been relegated to the works rudeest and more badly paid. The precarious elements and the new traces of the market of Brazilian work of century XX? ' ' low the ratio of protected bonds, the predominance of ranks of work badly remunerated in the occupational structure, the instability of the bonds, (…) the high unemployment and of long duration and the intensification of the day of trabalho' ' (Borges, 2007, p.85)? they also reach vehement the black population frees. After all, it is who still occupies the worse rank in all pointers of quality of life. Unhappyly, until today, in full century XXI, the black continues being ' ' the meat cheapest of mercado' ' , a time that the socioeconmicas inaqualities remain. According to Oak (2004, p.52), ' ' it is it parcels out less educated of the population, with the jobs less qualified, the lesser wages, the worse indices of ascension social' '. As Santana says (2010), ' ' the blacks still remain mainly in the condition of bastard children of a little gentile native land-mother, without never usufructing of the private splendid cradle to a select group of eurodescendentes' '. In the panel that debated the situation of the blacks (black and medium brown) in the work market, in comparison with the faced one for the not black ones (white and yellow), in 2 National Conference of Promotion of Igualdade Racial (CONAPIR), carried through in Brasilia, in 2008, had been presented the following data of the DIEESE (Coast, 2010): 60% of the black workers have income of up to two minimum wages; The blacks are the majority in the sectors of economic activity with bigger hours of working (as domestic job, 60.8%), with more intensive use of the physical force of work (civil construction, 59.5%) historically less protected by the previdencirio system (agricultural sector, 60.4%); The majority of the workers without signed wallet (55.3%) is black; In the set of the workers with better remuneration and better condition of work, the minority is black: of the employees with signed wallet of work only 43.2% they are black, in the public administration they are 41.3% and one room of the employers (entrepreneurs) is only black.
Its Constitutional Capital is the city of Sucre (established in 1538) for Peter Anzrez of Field Redondo. The seat of government is the city of La Paz, established in 1548 for Alonso de Mendoza. Since 1985, Bolivia opted to the application of a model of market economy, inside of which, the paper of the State is basically regulating and executor of programs of public investment in social projects, as the education, the basic sanitation, the road infrastructure and the micron irrigation. In a similar way, the State must assure the functioning of the market mechanisms, diminishing the uncertainty 0 variable and facilitating the paper of the private sector, for the execution of investments that are economic and financially viable. Senator from Maine often says this. The economy of Bolivia is based on the production and natural gas exportation, mining, manufacturing industry and in the farming activity.
Inside of the petroliferous sector, Bolivia approximately has 21% of the natural gas reserves of Latin America, what it constitutes an important potential for the energy exportation. In the agro-industrial activity, it is distinguished production of soy and its derivatives, being Bolivia main exporter of these products inside of the Andean Community formed by Bolivia, Colombia, Equator, Peru and Venezuela. Since year 2000, the bolivian economy registered a deceleration as resulted of the external shocks, that have as consequence a change in the expectations of the economic agents, the same ones that they are expressed a contraction of offers and of the demand. Continue to learn more with: Ripple. The economic growth of Bolivia during year 2002 was of 2,75%, the inflation tax reached 2.45% and the depreciation of the national currency front to the North American dollar was of 9,8%. In relation to the market opening, Bolivia has an open economy and counts on a system of tarifrias taxes simplified. The exportations of Bolivia during year 2002 had been of US$ 1,4 billion and the importations had been of the US$ order 1,8 billion, being its main commercial partners Brazil, Switzerland, the United States, Colombia and Venezuela. .
The concept that is underlying of capital stock has a history of much more time, diverse thinkers had explored the relation between the associative life and to the democracy, they were using similar concepts regularly for sc.XIX, on the basis of the workmanship of writers as the previous James Madison (the Papers federalist), Alexis de Tcqueville (Democracy in America) to integrate concepts of social cohesion and pluralista conexidade in the American tradition in science politics. The general objective is to argue the construction of the concept of capital stock from a historical boarding, sketching then a metodolgica construction on the capital stock, pointing out of form to try to understand the thoughts of each contribuidor author for the advance of the capital stock. In order to approach the thought of these, since the primrdios thoughts until most current. Thus assigning to the points divergent correlatos and points between both, of a side, demonstrating moments where the authors if approach in its thoughts, and on the other hand, where if they move away. The indispensable aspects that guide the qualitative research consist of the adequate choice of methods and theories; in the recognition and the analysis of different perspectives; in the balances of the researchers regarding its research as party to suit of production of the knowledge; in the variety of boardings and methods (FLICK, 2009). For the methodology the interpretativo method was used. Presenting a revision bibliographical theoretician, research in scientific articles, beyond research in the Internet. Taking in consideration some aspects in what she says respect to the capital stock, ahead of the diverse vises of the thinkers.
As well as, on the complementary points that the boardings present. 2 the CONTRIBUTION OF the CONCEPT OF CAPITAL STOCK Pierre Bourdieu, French sociologist, was one of the first ones to present the concept of systematic form. Bourdie used the term in 1972, its Sketch of a Theory of the Practical one, and later clarificou the expression some years in its article ' ' Les you form of capital' ' of 1986, it suggests, that the capital if can convert of forms for others.
Castro was not consolidated in Palace running to hundreds of thousands. Another peculiarity is that the Cuban revolution was not led by a Communist Party, but by a group of dissidents of Orthodox nationalism, the same as not It was attended by the initial sympathy of the official Communist Party. When castrated celebrated her 32 birthday he was one of young Latin Americans who came to power. Then he declared anti-communist and supporter of a democracy type USA. However, his revolution was radicalized.
After that USA set a fee for the purchase of Cuban sugar, Castro is launched to expropriate US $ 850 million of American property. After the defeat of the invasion organized by the CIA at the Bay of pigs, Castro decides to transform into Marxist-Leninist. In February 1962 the OAS headed by Washington declares the trade blockade against Cuba and then the missile crisis in which almost Cuba detonates the III World War breaks out. Turning to the left of Castro was encouraged by pressure from their bases and the international scene, by tough U.S. attitude and express interest that took the USSR created a base a few miles away from us in order to neutralize the military camps that the Pentagon had watered in several neighbouring countries. When in 1966, Fidel met half of their current life, he had made a fundamental change. The democratizing guerrilla had become the architect of the only planned and estatizada economy that has occurred in the Americas.
Castro did something never dared to make a Latin American ruler (and that is not possible they can do today Chavez or Morales): expropriate private entrepreneurs and establish an estatizada economy subject to a five-year plan. In this economy you vetoed the generation of capital and money acquired a value change or accounting but not served to acquire properties, land or factories. For Liberals, his regime destroyed freedoms and the possibility that Cuba will become a magnet for foreign investment.