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Abstract art uses a visual language of shape, form, color and line to create a composition which may exist with a degree of independence from visual references in the world. Robert Delaunay , —13, Le Premier Disque, cm Mountain market, clearing Mist, Yu Jian, China. Henri Matisse , The Yellow Curtain , With his Fauvist color and drawing Matisse comes very close to pure abstraction. Proto-Cubism is an intermediary transition phase in the history of art chronologically extending from to El Greco , c.

This work has a striking resemblance to 20th-century Expressionism. Historically however it is an example of Mannerism. Mathematics can be discerned in arts such as music, dance, painting, architecture, sculpture, and textiles. Mathematical references include a compass for geometry , a magic square and a truncated rhombohedron , while measurement is indicated by the scales and hourglass. Roman copy in marble of Doryphoros , originally a bronze by Polykleitos. Recognized for its curatorial efforts and popularity among visitors, the museum hosts approximately 1.

One of the two lion statues Kemeys, bronze flanking the Institute's main entrances. Edward Hopper's Nighthawks , Mary Cassatt , The Child's Bath — Detail: C18th Boulle Work.


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Jean Dominique Antony Metzinger was a major 20th-century French painter, theorist, writer, critic and poet, who along with Albert Gleizes wrote the first theoretical work on Cubism. Albert Gleizes was a French artist, theoretician, philosopher, a self-proclaimed founder of Cubism and an influence on the School of Paris. Albert Gleizes, , Portrait de Jacques Nayral , oil on canvas, This painting was reproduced in Fantasio: published 15 October , for the occasion of the Salon d'Automne where it was exhibited the same year.

It is housed near place des Terreaux in a former Benedictine convent of the 17th and 18th centuries. Fragment of the funerary bas-relief probably from Deir-el-Bahari , 20th Dynasty. National Gallery of Art. Sonia Delaunay , Rythme, Marc Chagall , The Fiddler, — Cover illustration by Amedeo Modigliani. Guillaume Apollinaire was a French poet, playwright, short story writer, novelist, and art critic of Polish-Belarusian descent.

Photograph of Guillaume Apollinaire in spring after a shrapnel wound to his temple. Max Jacob was a French poet, painter, writer, and critic. Max Jacob, photographed by Carl van Vechten. Fountain , photograph by Alfred Stieglitz. Convex polyhedron blocks on display at the Universum museum in Mexico City. Fauvism is the style of les Fauves, a group of early twentieth-century modern artists whose works emphasized painterly qualities and strong color over the representational or realistic values retained by Impressionism. Henri Matisse.

Woman with a Hat , San Francisco Museum of Modern Art. Henri Matisse , Le bonheur de vivre , , oil on canvas, Max Weber was a Jewish-American painter and one of the first American Cubist painters who, in later life, turned to more figurative Jewish themes in his art. The Cellist, , which was featured in Weber's retrospective exhibition at the Museum of Modern Art.

Autochrome portrait of Stieglitz and his wife Emily, ca. Camera Work was a quarterly photographic journal published by Alfred Stieglitz from to It is known for its many high-quality photogravures by some of the most important photographers in the world and its editorial purpose to establish photography as a fine art. Cover of Camera Work, No 2, Cover design by Edward Steichen. Lenore, by Joseph Keiley.

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Published in Camera Work No 17, This is a three-page article in which various critics express their often severe opinions on Cubism, Futurism and the underlying theory presented in Du "Cubisme". On the third page Albert Gleizes responds in defense of the new art. In French. Black and white. The Philadelphia Inquirer is a morning daily newspaper that serves the Philadelphia metropolitan area of the United States. The newspaper was founded by John R.

The sign above the entrance to The Inquirer Building. Jean Arp or Hans Arp was a German-French sculptor, painter, poet, and abstract artist in other media such as torn and pasted paper. Photograph of Jean Arp, published in De Stijl , vol. After experimenting with Impressionism and Pointillism, Picabia became associated with Cubism. Francis Picabia, , inside Danse de Saint-Guy. Wassily Wassilyevich Kandinsky was a Russian painter and art theorist.

Fourth dimension in art

Der Blaue Reiter Early-period work, Munich-Schwabing with the Church of St. Ursula Wassily Kandinsky, , Landscape with Factory Chimney, oil on canvas, Guggenheim Museum. Exhibited at Galerie La Licorne, Paris, , reproduced in the catalogue. Alexander Calder was an American sculptor who is best known for his innovative mobiles that embrace chance in their aesthetic and his monumental public sculptures. Alexander Calder, by Carl Van Vechten , Two Acrobats by Alexander Calder, c.

Les Demoiselles d'Avignon is a large oil painting created in by the Spanish artist Pablo Picasso. El Greco , Saint Martin and the Beggar , c. His later works were more abstract. Robert Delaunay, Portrait de Jean Metzinger, , oil on canvas, 55 x 43 cm. A mathematician is someone who uses an extensive knowledge of mathematics in his or her work, typically to solve mathematical problems. Emmy Noether , mathematical theorist and teacher. In in the United States, mathematicians were desired as teachers, calculating machine operators, mechanical engineers, accounting auditor bookkeepers, and actuary statisticians.

Benjamin Lauder Nicholson, OM was an English painter of abstract compositions, landscape and still-life. Portrait of Ben Nicholson by Mabel Pryde , circa As a Wall Street Journal report explained:. The banks. They say insurance policies they bought during the s should cover payments the banks made to settle class-action suits over their roles in advising Enron and WorldCom.

The Swiss Reinsurance Co. The business scandals were partly explained by pressure to produce results, at a time of underlying deterioration in the profitability in the provision of non-financial goods and services in the major Western economies. The Litigation Reform Act of shielded from legal challenge the claims and promises made by ceo s and company promoters. Financial concerns were helping ceo s out of a tight spot at the expense of millions of small savers. While the ceo s were anxious to conceal poor results the banks were expecting and demanding double-digit annual returns.

Agents who were not responsible to plan members and pension policyholders were handling much of the money lost by this kind of speculation. They report the following exchange:. Do you have any contact with the beneficiaries of the fund? None whatsoever. It never happened?

Essays on Mathematics and Culture

What kind of reporting is done to the beneficiaries every year? The legal requirement under erisa. What does it look like on paper? In contrast to this distant relationship, the pensions executive will be in close and daily contact with the Chief Financial Officer of the sponsoring company—indeed, in some cases, he will be the cfo.

There is such latitude for make-believe in corporate pension funding that it is easy to come away with the idea that fund liabilities are infinitely fungible. But that is not the case. This is partly because employees do eventually retire and must be paid their pension. It is also because of the increasing nervousness of accountants, regulators and shareholders. Many older companies now have more retirees than they do current workers; if there is not enough in the fund then pensions become a charge on cash flow. Problems with defined-benefit pension commitments have been a significant factor in the debility of us and British manufacturing, since enterprises in this sector typically had mature db schemes and often found themselves starved of funds just when investment should have been boosted.

In late gm floated a bond specifically designed to help pay pensions—it has around a million pensioners. The damage to the overall credit-worthiness of the auto giant led its bonds to be downgraded to junk status within months. In , the us Employee Retirement Income Security Act had established an insurance scheme, the Pension Benefit Guaranty Corporation, to which all corporations running db schemes had to belong.

The courts are likely to agree, if this is the only way to save the company as a going concern. Filing for bankruptcy protection used to be a rigorous process, allowing the company an interval to get its affairs in order; it was meant to protect employees, among others, from a precipitate and perhaps unnecessary liquidation. The employees, by contrast, were left with shrunken benefits. In July , the uk subsidiary of this company went into receivership and successfully shed pension obligations for over 20, employees, with losses for a further 20, in an associated company.

By the late summer of Steve Miller was ceo at Delphi, another company sinking under the weight of the pension and medical-insurance promises it had made to its employees. Miller also paid off twenty executives with comfortable retirement packages, while urging the great mass of employees to accept huge cuts—of 50 per cent or more—in their wages and healthcare and pension entitlements, saying that only this would save their jobs and help Delphi to avoid bankruptcy. Miller continued to urge huge cuts in benefits and the uaw continued to resist them.

This allowed Miller to seek credit from gm in order to keep Delphi afloat—and at least nominally be responsible for the pension and healthcare plans. But he wants assets that have gone through bankruptcy, had the barnacles stripped off and liabilities resolved. Writing about parallel uk developments, Martin Wolf offers the following devastating verdict:. The implosion of private-sector defined-benefit pension schemes accelerates. Predictably, as the schemes disappear, the supply of self-serving, self-exculpation from managements and those who speak for them soars.

Pension provision provides attractive opportunities for such a game. The aim was to hold on to valuable staff, encourage them to acquire company-specific skills and pay them less than their market wage. A clever way to do this is to promise pay far in the future. That, after all, is all pensions are—deferred pay. Companies have played the bait and switch game: now comes the switch. The manoeuvres at Delphi are part of the softening-up process for what will happen elsewhere, including the auto companies themselves, led by gm with its million-strong army of retirees.

The owners of the large airline companies have also played the Chapter 11 card, notwithstanding the fact that they are rather implausible victims of globalization—they can buy fuel virtually tax-free and on their major routes they do not face competitors paying Third World wages. Auto will be next, with telecom companies not far behind. Financiers have not been the only ones to benefit, however. In October Northwest Airlines, having availed itself of bankruptcy protection and asked the court to allow it to repudiate its pension obligations, hired the services of eight law firms and two bankruptcy consultancies in order to outgun its employees.

Delta took the same path, hiring seven law firms and four financial advisory firms. The Wall Street Journal commented:. Bankruptcy has long been lucrative for lawyers, but the airline industry is providing an unusual bonanza. The specialists in distressed assets like to operate through closed, private-investment vehicles that do not have to obey the standards of disclosure and reporting of the normal public company.

But the closed company can also be a source of vulnerability for its owner, exposing him or her to the liabilities of entities in which they have a controlling stake. In , the financier Carl Icahn had a controlling stake in Trans World Airlines when it filed for bankruptcy protection. This episode was recalled in February , when the pbgc sought to attach the assets of another financier specializing in distressed assets. This beachfront estate comprises five buildings, with 29 bedrooms and 39 bathrooms.

The pbgc claimed that Fair Field could be attached because Renco was its beneficial owner, owning over 80 per cent of Blue Turtles, the entity that directly owned the estate. In the past investors in distressed assets bought bonds, but there is now lively interest from hedge funds like Xerion, Appaloosa Management lp and Mellon hbv us in purchasing shares and helping to establish stockholder committees in such concerns as the Mirant Corporation, us Gypsum and Impath Inc.

As the Wall Street Journal explains:. Many of these companies will use bankruptcy proceedings to shed those liabilities. In March the Financial Times carried the following report concerning a property group which had acquired a controlling stake in the Allders retail chain:. Minerva has endured a turbulent 18 months, with. Mr Hasan [the chief executive] yesterday denied suggestions that Minerva may have won planning permission for its unbuilt Minerva Tower in the City as part of this loan.

THE ‘POST-INSTITUTIONAL’ PERSPECTIVE:

In a peculiarly British twist to the vulture-capitalist scenario, Downing Street had also nominated Garrard for a peerage. Between and , corporate scandals were eclipsed by the revelation that core financial institutions—the major investment banks, mutual funds and insurance houses—had colluded with corporate crime and were themselves awash with insider-dealing, kickbacks and techniques for skimming their own customers.

The exposure of these abuses, after the bursting of the share-price bubble, led to settlements in which the financial sector paid out billions of dollars in fines to regulators and reimbursed some clients. The documents unearthed by Spitzer showed how analysts had boosted the shares of companies with which their bank did business. Nominally owned by the investors, mutual funds are in reality controlled by the sponsoring financial corporation: the finance house sets up the fund and selects its directors.

Spitzer was assisted in his prosecutions by the work of academic researchers who had been puzzled by the extent of poor returns in the mutual-fund industry. Not only would this make it hard for shareholders to assess company performance, it was also likely to be very expensive. Any account of the new world of finance runs the risk of neo-Luddism—of treating finance itself as necessarily a domain of delusion and chicanery.

The financial techniques employed by hedge funds or the finance departments of large corporations are not all designed for some dubious purpose. The use of derivatives to hedge currency or interest rate swings usually aims simply to reduce uncertainty. It may make sense to offset other, similar, risks to achieve a balanced portfolio. But hedge funds, finance houses and accountants invariably go far beyond such tame procedures. While financial engineering can bring great rewards to its practitioners, many of its most characteristic devices have nothing to do with improved performance, but are all about gaming the taxman or the shareholders.

Likewise hedge funds often use leverage borrowed money or assets to increase their profits on a transaction, but in so doing also increase the exposure of their clients. Those who buy an asset stand to lose what they have paid. Those who buy a derivative can be exposed to unlimited loss. The barely contained collapse of Long Term Capital Management in —patronized by central banks and staffed by brilliant minds—illustrated several of these dangers.

But this would be an error.

After the collapse of Enron and WorldCom, the tangled mass of derivative contracts at stake unwound without much pain; the real disaster was for the pension funds and employees who had invested in the shares and financial instruments offered by these concerns. The individual in question had, it is true, used a small hedge fund to help conceal this debt. But the financial manipulation he used was of breathtaking simplicity—the debt was simply rotated around three accounts with different reporting periods, one of the hoariest scams known to financial history.

What allowed the fraud to succeed was the willingness of highly respected lawyers and accountants to prepare and endorse the rotating payments. More generally, as Edward LiPuma and Benjamin Lee urge, the use of derivatives in contemporary financialization aims at short-term gains that short-circuit flows of production and trade, garnering an immediate profit at the expense of what might have been a long-term social surplus. As we have seen, the financialized world has involved the dumping of pension promises and health entitlements, while the savings of many millions have been committed to credit derivatives or hedge funds which may deliver short-run returns but remain vulnerable to the business cycle in the longer term.

In the speculative process, large-scale finance has the edge over the small saver and the cash-strapped corporation. The mass of employees may own a significant slice of productive assets, but they do so in ways that render them vulnerable to hedge funds and other finance houses which are better informed and more nimble. Because financialization is not embedded in a macro-policy or strategy it often plays a part in strangling growth. Booms lose their way if they are channelled into short-term speculation and arbitrage, rather than long-range investment.

Sustained growth requires infrastructural and educational investments that may not pay off for decades. While arbitrage can help to spot and eliminate excess costs, if unregulated it will wipe out all long-range projects. Shop Books. Add to Wishlist. USD Overview The long-awaited new edition of a groundbreaking work on the impact of alternative concepts of space on modern art.

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