Misplaced Pages

#781218

104-647: Cryptonomicon is closer to the genres of historical fiction and contemporary techno-thriller than to the science fiction of Stephenson's two previous novels, Snow Crash and The Diamond Age . It features fictionalized characterizations of such historical figures as Alan Turing , Albert Einstein , Douglas MacArthur , Winston Churchill , Isoroku Yamamoto , Karl Dönitz , Hermann Göring , and Ronald Reagan , as well as some highly technical and detailed descriptions of modern cryptography and information security, with discussions of prime numbers , modular arithmetic , and Van Eck phreaking . According to Stephenson,

208-529: A ripple effect through the financial system and the economy (as well as any connected economies) as a whole. The foreign ministers of the 10 ASEAN countries believed that the well co-ordinated manipulation of their currencies was a deliberate attempt to destabilize the ASEAN economies . Malaysian Prime Minister Mahathir Mohamad accused George Soros and other currency traders of ruining Malaysia's economy with currency speculation . Soros claims to have been

312-553: A "cryptographer's bible", is a fictional book summarizing America's knowledge of cryptography and cryptanalysis . Begun by John Wilkins (the Cryptonomicon is mentioned in Quicksilver ) and amended over time by William Friedman , Lawrence Waterhouse, and others, the Cryptonomicon is described by Katherine Hayles as "a kind of Kabala created by a Brotherhood of Code that stretches across centuries. To know its contents

416-536: A "friendly enemy" of Shaftoe's, are assigned to build a mysterious bunker in the mountains in the Philippines as part of what turns out to be a literal suicide mission. Circa 1997, Randy Waterhouse (Lawrence's grandson) joins his old role-playing game companion Avi Halaby in a new startup , providing Pinoy -grams (inexpensive, non-real-time video messages) to migrant Filipinos via new fiber-optic cables. The Epiphyte Corporation uses this income stream to fund

520-485: A buyer of the ringgit during its fall, having sold it short in 1997. At the 30th ASEAN Ministerial Meeting held in Subang Jaya , Malaysia , the foreign ministers issued a joint declaration on 25 July 1997 expressing serious concern and called for further intensification of ASEAN's cooperation to safeguard and promote ASEAN's interest in this regard. Coincidentally, on that same day, the central bankers of most of

624-579: A further decline in South Korean shares since stock markets were already bearish in November. The Seoul stock exchange fell by 4% on 7 November 1997. On 8 November, it plunged by 7%, its biggest one-day drop to that date. And on 24 November, stocks fell a further 7.2% on fears that the IMF would demand tough reforms. In 1998, Hyundai Motor Company took over Kia Motors. Samsung Motors ' $ 5 billion venture

728-504: A general loss of demand and confidence throughout the region. Although most of the governments of Asia had seemingly sound fiscal policies , the International Monetary Fund (IMF) stepped in to initiate a $ 40 billion program to stabilize the currencies of South Korea, Thailand, and Indonesia, economies particularly hard hit by the crisis. However, the efforts to stem a global economic crisis did little to stabilize

832-508: A greater devaluation? This is a relevant tradeoff, but there can be no question that the degree of devaluation in the Asian countries is excessive, both from the viewpoint of the individual countries, and from the viewpoint of the international system. Looking first to the individual country, companies with substantial foreign currency debts, as so many companies in these countries have, stood to suffer far more from… currency (depreciation) than from

936-425: A high rate of return . As a result, the region's economies received a large inflow of money and experienced a dramatic run-up in asset prices. At the same time, the regional economies of Thailand, Malaysia, Indonesia, Singapore and South Korea experienced high growth rates, of 8–12% GDP, in the late 1980s and early 1990s. This achievement was widely acclaimed by financial institutions including IMF and World Bank , and

1040-511: A highly leveraged economic climate, and pushed up asset prices to an unsustainable level, particularly those in non-productive sectors of the economy such as real-estate. These asset prices eventually began to collapse, causing individuals and companies to default on debt obligations. The resulting panic among lenders led to a large withdrawal of credit from the crisis countries, causing a credit crunch and further bankruptcies. In addition, as foreign investors attempted to withdraw their money,

1144-407: A large number of Indonesian corporations had been borrowing in U.S. dollars. This practice had worked well for these corporations during the preceding years, as the rupiah had strengthened respective to the dollar; their effective levels of debt and financing costs had decreased as the local currency's value rose. In July 1997, when Thailand floated the baht, Indonesia's monetary authorities widened

SECTION 10

#1732784046782

1248-462: A largely uncontrolled manner to certain people only – not necessarily the best suited or most efficient, but those closest to the centers of power. Weak corporate governance also led to inefficient investment and declining profitability. Until 1999, Asia attracted almost half of the total capital inflow into developing countries . The economies of Southeast Asia in particular maintained high interest rates attractive to foreign investors looking for

1352-645: A number of subgenres, for example by setting or subject, or a distinctive national style, for example in the Indian Bollywood musical. A music genre is a conventional category that identifies pieces of music as belonging to a shared tradition or set of conventions. It is to be distinguished from musical form and musical style , although in practice these terms are sometimes used interchangeably. There are numerous genres in Western classical music and popular music , as well as musical theatre and

1456-411: A particular culture or community. The work of Georg Lukács also touches on the nature of literary genres , appearing separately but around the same time (1920s–1930s) as Bakhtin. Norman Fairclough has a similar concept of genre that emphasizes the social context of the text: Genres are "different ways of (inter)acting discoursally" (Fairclough, 2003: 26). A text's genre may be determined by its: In

1560-473: A result of the crisis. Following the 1997 Asian financial crisis, income in the northeast, the poorest part of the country, rose by 46 percent from 1998 to 2006. Nationwide poverty fell from 21.3 to 11.3 percent. Thailand's Gini coefficient , a measure of income inequality , fell from .525 in 2000 to .499 in 2004 (it had risen from 1996 to 2000) versus 1997 Asian financial crisis. By 2001, Thailand's economy had recovered. The increasing tax revenues allowed

1664-556: A result of the crisis. In May 1997, the Bangko Sentral ng Pilipinas , the country's central bank, raised interest rates by 1.75 percentage points and again by 2 points on 19 June. Thailand triggered the crisis on 2 July and on 3 July, the Bangko Sentral intervened to defend the peso , raising the overnight rate from 15% to 32% at the onset of the Asian crisis in mid-July 1997. The peso dropped from 26 pesos per dollar at

1768-483: A series of bailouts ("rescue packages") for the most-affected economies to enable them to avoid default , tying the packages to currency, banking and financial system reforms. Due to IMF's involvement in the financial crisis, the term IMF Crisis became a way to refer to the Asian Financial Crisis in countries that were affected. The IMF's support was conditional on a series of economic reforms,

1872-591: A specific genre is important for important for a successful transfer of information ( media-adequacy ). Critical discussion of genre perhaps began with a classification system for ancient Greek literature , as set out in Aristotle's Poetics . For Aristotle, poetry ( odes , epics , etc.), prose , and performance each had specific features that supported appropriate content of each genre. Speech patterns for comedy would not be appropriate for tragedy, for example, and even actors were restricted to their genre under

1976-481: A story, or allegorical personifications. They usually deal with subjects drawn from "everyday life". These are distinguished from staffage : incidental figures in what is primarily a landscape or architectural painting. "Genre" is also be used to refer to specialized types of art such as still-life , landscapes, marine paintings and animal paintings, or groups of artworks with other particular features in terms of subject-matter, style or iconography . The concept of

2080-536: A structured classification system of genre, as opposed to a more contemporary rhetorical model of genre. The basic genres of film can be regarded as drama, in the feature film and most cartoons , and documentary . Most dramatic feature films, especially from Hollywood fall fairly comfortably into one of a long list of film genres such as the Western , war film , horror film , romantic comedy film , musical , crime film , and many others. Many of these genres have

2184-494: A temporary rise in domestic interest rates…. Thus, on macroeconomics… monetary policy has to be kept tight to restore confidence in the currency.... From the then IMF managing director Michel Camdessus : To reverse (currency depreciation), countries have to make it more attractive to hold domestic currency, and that means temporarily raising interest rates, even if this (hurts) weak banks and corporations. From 1985 to 1996, Thailand's economy grew at an average of over 9% per year,

SECTION 20

#1732784046782

2288-570: A trio of novels dubbed The Baroque Cycle , provides part of the deep backstory to the characters and events featured in Cryptonomicon . Set in the late 17th and early 18th centuries, the novels feature ancestors of several characters in Cryptonomicon , as well as events and objects which affect the action of the later-set book. The subtext implies the existence of secret societies or conspiracies, and familial tendencies and groupings found within those darker worlds. The short story " Jipi and

2392-510: A viable mode. He then uses two additional criteria to distinguish the system. The first of the criteria is the object to be imitated, whether superior or inferior. The second criterion is the medium of presentation: words, gestures, or verse. Essentially, the three categories of mode , object , and medium can be visualized along an XYZ axis. Excluding the criteria of medium, Aristotle's system distinguished four types of classical genres: tragedy , epic , comedy , and parody . Genette explained

2496-493: Is a highly specialized, narrow classification of a cultural practice. The term has come into usage in the 21st century, and most commonly refers to music. It is also associated with the hyper-specific categories used in recommendations for television shows and movies on digital streaming platforms such as Netflix , and is sometimes used more broadly by scholars analyzing niche forms in other periods and other media. Asian financial crisis The 1997 Asian financial crisis

2600-474: Is a thinly veiled reference to Linux , a kernel originally written by the Finnish native Linus Torvalds . Stephenson changed the name so as not to be creatively constrained by the technical details of Linux-based operating systems. An excerpt from Cryptonomicon was originally published in the short story collection Disco 2000 , edited by Sarah Champion and published in 1998. Stephenson's subsequent work,

2704-446: Is further subdivided into epic , lyric , and drama . The divisions are recognized as being set by Aristotle and Plato ; however, they were not the only ones. Many genre theorists added to these accepted forms of poetry . The earliest recorded systems of genre in Western history can be traced back to Plato and Aristotle . Gérard Genette explains his interpretation of the history of genre in "The Architext". He described Plato as

2808-521: Is met or not. Many genres have built-in audiences and corresponding publications that support them, such as magazines and websites. Inversely, audiences may call out for change in an antecedent genre and create an entirely new genre. The term may be used in categorizing web pages , like "news page" and "fan page", with both very different layout, audience, and intention (Rosso, 2008). Some search engines like Vivísimo try to group found web pages into automated categories in an attempt to show various genres

2912-407: Is often applied, sometimes rather loosely, to other media with an artistic element, such as video game genres . Genre, and numerous minutely divided subgenres, affect popular culture very significantly, not least as they are used to classify it for publicity purposes. The vastly increased output of popular culture in the age of electronic media encourages dividing cultural products by genre to simplify

3016-548: Is to hide the fact that Allied intelligence has cracked the German Enigma code. The detachment stages events, often behind enemy lines, that provide alternative explanations for the Allied intelligence successes. United States Marine sergeant Bobby Shaftoe, a veteran of China and Guadalcanal , serves in unit 2702, carrying out Waterhouse's plans. At the same time, Japanese soldiers, including mining engineer Goto Dengo,

3120-640: Is to qualify as a Morlock among the Eloi , and the elite among the elite are those gifted enough actually to contribute to it." The action takes place in two periods— World War II and the late 1990s, during the Internet boom and the Asian financial crisis . In 1942, Lawrence Pritchard Waterhouse, a young United States Navy code breaker and mathematical savant , is assigned to the newly formed joint British and American Detachment 2702. This ultra-secret unit's role

3224-584: The Jakarta Stock Exchange touched a historic low in September. Moody's eventually downgraded Indonesia's long-term debt to " junk bond ". Although the rupiah crisis began in July and August 1997, it intensified in November when the effects of that summer devaluation showed up on corporate balance sheets. Companies that had borrowed in dollars had to face the higher costs imposed upon them by

Cryptonomicon - Misplaced Pages Continue

3328-615: The Latin American debt crisis . The effects of the SAPs were mixed and their impact controversial. Critics, however, noted the contractionary nature of these policies, arguing that in a recession , the traditional Keynesian response was to increase government spending, prop up major companies, and lower interest rates. The reasoning was that by stimulating the economy and staving off recession , governments could restore confidence while preventing economic loss . They pointed out that

3432-522: The Renaissance period. According to Green, "Beethoven's Op. 61 and Mendelssohn's Op. 64 are identical in genre – both are violin concertos – but different in form. However, Mozart's Rondo for Piano, K. 511 , and the Agnus Dei from his Mass, K. 317 are quite different in genre but happen to be similar in form." Some, like Peter van der Merwe , treat the terms genre and style as

3536-428: The exchange market was flooded with the currencies of the crisis countries, putting depreciative pressure on their exchange rates. To prevent currency values collapsing, these countries' governments raised domestic interest rates to exceedingly high levels (to help diminish flight of capital by making lending more attractive to investors) and intervened in the exchange market, buying up any excess domestic currency at

3640-455: The fixed exchange rate with foreign reserves . Neither of these policy responses could be sustained for long, as several countries had insufficient levels of foreign exchange reserves. Very high interest rates, which can be extremely damaging to a healthy economy, wreaked further havoc on economies in an already fragile state, while the central banks were hemorrhaging foreign reserves, of which they had finite amounts. When it became clear that

3744-536: The " hierarchy of genres " was a powerful one in artistic theory, especially between the 17th and 19th centuries. It was strongest in France, where it was associated with the Académie française which held a central role in academic art . The genres, which were mainly applied to painting, in hierarchical order are: The hierarchy was based on a distinction between art that made an intellectual effort to "render visible

3848-472: The " structural adjustment package" (SAP). The SAPs called on crisis-struck nations to reduce government spending and deficits, allow insolvent banks and financial institutions to fail, and aggressively raise interest rates. The reasoning was that these steps would restore confidence in the nations' fiscal solvency , penalize insolvent companies, and protect currency values. Above all, it was stipulated that IMF-funded capital had to be administered rationally in

3952-432: The "General Agreement to Borrow" and the "Emergency Finance Mechanism". The scope and the severity of the collapses led to an urgent need for outside intervention. Since the countries melting down were among the richest in their region, and in the world, and since hundreds of billions of dollars were at stake, any response to the crisis was likely to be cooperative and international. The International Monetary Fund created

4056-472: The 1990s after the implementation of a number of export-oriented reforms. Other economists dispute China's impact, noting that both ASEAN and China experienced simultaneous rapid export growth in the early 1990s. Many economists believe that the Asian crisis was created not by market psychology or technology, but by policies that distorted incentives within the lender–borrower relationship. The resulting large quantities of credit that became available generated

4160-498: The 1990s, hot money flew into the Southeast Asia region through financial hubs , especially Hong Kong. The investors were often ignorant of the actual fundamentals or risk profiles of the respective economies, and once the crisis gripped the region, the political uncertainty regarding the future of Hong Kong as an Asian financial centre led some investors to withdraw from Asia altogether. This shrink in investments only worsened

4264-557: The IMF, the reserves of Thailand and South Korea were perilously low, and the Indonesian Rupiah was excessively depreciated. Thus, the first order of business was... to restore confidence in the currency. To achieve this, countries have to make it more attractive to hold domestic currency, which in turn, requires increasing interest rates temporarily, even if higher interest costs complicate the situation of weak banks and corporations... Why not operate with lower interest rates and

Cryptonomicon - Misplaced Pages Continue

4368-946: The Internet age. In July 2012, io9 included the book on its list of "10 Science Fiction Novels You Pretend to Have Read". Genre Genre ( French for 'kind, sort') is any style or form of communication in any mode (written, spoken, digital, artistic, etc.) with socially agreed-upon conventions developed over time. In popular usage, it normally describes a category of literature , music , or other forms of art or entertainment, based on some set of stylistic criteria. Often, works fit into multiple genres by way of borrowing and recombining these conventions. Stand-alone texts, works, or pieces of communication may have individual styles, but genres are amalgams of these texts based on agreed-upon or socially inferred conventions. Some genres may have rigid, strictly adhered-to guidelines, while others may show great flexibility. The proper use of

4472-697: The Paranoid Chip " takes place some time after the events of Cryptonomicon . In the story, the construction of the Crypt has triggered economic growth in Manila and Kinakuta, in which Goto Engineering, and Homa/Homer Goto, a Goto family heir, are involved. The IDTRO ("Black Chamber") is also mentioned. Stephenson's 2019 novel, Fall; or, Dodge in Hell , a sequel to Reamde (2011), reveals that Fall , Reamde , Cryptonomicon and The Baroque Cycle are all set in

4576-614: The Philippines dropped to virtually zero. Only Singapore proved relatively insulated from the shock, but nevertheless suffered serious hits in passing, mainly due to its status as a major financial hub and its geographical proximity to Malaysia and Indonesia. By 1999, however, analysts saw signs that the economies of Asia were beginning to recover. After the crisis, economies in East and Southeast Asia worked together toward financial stability and better financial supervision. The causes of

4680-471: The U.S. government had pursued expansionary policies, such as lowering interest rates, increasing government spending, and cutting taxes, when the United States itself entered a recession in 2001, and arguably the same in the fiscal and monetary policies during the 2008–2009 Global Financial Crisis. Many commentators in retrospect criticized the IMF for encouraging the developing economies of Asia down

4784-595: The USD–Baht currency peg, and the Thai government was eventually forced to float the Baht, on 2 July 1997, allowing the value of the Baht to be set by the currency market. This caused a chain reaction of events, eventually culminating into a region-wide crisis. Thailand's booming economy came to a halt amid massive layoffs in finance, real estate, and construction that resulted in huge numbers of workers returning to their villages in

4888-474: The United States a more attractive investment destination relative to Southeast Asia, which had been attracting hot money flows through high short-term interest rates, and raised the value of the U.S. dollar. For the Southeast Asian nations which had currencies pegged to the U.S. dollar, the higher U.S. dollar caused their own exports to become more expensive and less competitive in the global markets. At

4992-468: The World War II storyline: The precise date of this storyline is not established, but the ages of characters, the technologies described, and certain date-specific references suggest that it is set in the late 1990s, at the time of the internet boom and the Asian financial crisis . Portions of Cryptonomicon contain large amounts of exposition. Several pages are spent explaining in detail some of

5096-583: The affected countries were at the EMEAP (Executive Meeting of East Asia Pacific) meeting in Shanghai, and they failed to make the "New Arrangement to Borrow" operational. A year earlier, the finance ministers of these same countries had attended the 3rd APEC finance ministers meeting in Kyoto , Japan, on 17 March 1996, and according to that joint declaration, they had been unable to double the amounts available under

5200-456: The assumption that a type of person could tell one type of story best. Genres proliferate and develop beyond Aristotle's classifications— in response to changes in audiences and creators. Genre has become a dynamic tool to help the public make sense out of unpredictability through artistic expression. Given that art is often a response to a social state, in that people write, paint, sing, dance, and otherwise produce art about what they know about,

5304-482: The book communicate with each other through the use of one-time pads . A one-time pad (OTP) is an encryption technique that requires a single-use pre-shared key of at least the same length as the encrypted message. The story posits a variation of the OTP technique wherein there is no pre-shared key - the key is instead generated algorithmically. He also describes computers using a fictional operating system, Finux. The name

SECTION 50

#1732784046782

5408-762: The book is written for a technical or geek audience. Despite the technical detail, the book drew praise from both Stephenson's science fiction fan base and literary critics and buyers. In Clayton's book Charles Dickens in Cyberspace: The Afterlife of the Nineteenth Century in Postmodern Culture (2003), he calls Stephenson's book the "ultimate geek novel" and draws attention to the "literary-scientific-engineering-military-industrial-intelligence alliance" that produced discoveries in two eras separated by fifty years, World War II and

5512-401: The chain objectives of tightened money supply , discouraged currency speculation , stabilized exchange rate, curbed currency depreciation, and ultimately contained inflation . In the Asian meltdown, highest IMF officials rationalized their prescribed high interest rates as follows: From then IMF First Deputy managing director, Stanley Fischer in 1998: When their governments "approached

5616-489: The closely related concept of "genre ecologies". Reiff and Bawarshi define genre analysis as a critical reading of people's patterns of communication in different situations. This tradition has had implications for the teaching of writing in American colleges and universities. Combining rhetorical genre theory with activity theory , David Russell has proposed that standard English composition courses are ill-suited to teach

5720-401: The concepts behind cryptography and data storage security, including a description of Van Eck phreaking . In the book, a playing-card based cipher called Pontifex is used. At Stephenson's request, Bruce Schneier developed such a cipher, calling it Solitaire , and a precise description of Solitaire is included as an appendix. Solitaire was cryptanalyzed in 1999. Several of the characters in

5824-477: The country to balance its budget and repay its debts to the IMF in 2003, four years ahead of schedule. The Thai baht continued to appreciate to 29 Baht to the U.S. dollar in October 2010. In June 1997, Indonesia seemed far from crisis. Unlike Thailand, Indonesia had low inflation, a trade surplus of more than $ 900 million, huge foreign exchange reserves of more than $ 20 billion, and a good banking sector. However,

5928-624: The country, many factors arising from all aspects, including sports broadcasting on Indonesian television, including: Additionally, the Indonesian motorcycle Grand Prix , which was held at Sentul , was dropped from the 1998 Superbike and MotoGP calendars. World Rally Championship also dropped the Rally Indonesia from their 1998 calendar . The banking sector was burdened with non-performing loans as its large corporations were funding aggressive expansions. During that time, there

6032-858: The countryside and 600,000 foreign workers being sent back to their home countries. The baht devalued swiftly and lost more than half of its value. The baht reached its lowest point of 56 units to the U.S. dollar in January 1998. The Thai stock market dropped 75%. Finance One, the largest Thai finance company until then, collapsed. On 11 August 1997, the IMF unveiled a rescue package for Thailand with more than $ 17 billion, subject to conditions such as passing laws relating to bankruptcy (reorganizing and restructuring) procedures and establishing strong regulation frameworks for banks and other financial institutions. The IMF approved on 20 August 1997, another bailout package of $ 2.9 billion. Poverty and inequality increased while employment, wages and social welfare all declined as

6136-450: The creation of a data haven in the nearby fictional Sultanate of Kinakuta. Vietnam veteran Doug Shaftoe, the son of Bobby Shaftoe, and his daughter Amy do the undersea surveying for the cables and engineering work on the haven, which is overseen by Goto Furudenendu, heir-apparent to Goto Engineering. Complications arise as figures from the past reappear seeking gold or revenge. Fictionalized versions of several historical figures appear in

6240-418: The creator of three imitational, mimetic genres distinguished by mode of imitation rather than content. These three imitational genres include dramatic dialogue, the drama ; pure narrative, the dithyramb ; and a mixture of the two, the epic . Plato excluded lyric poetry as a non-mimetic, imitational mode. Genette further discussed how Aristotle revised Plato's system by first eliminating the pure narrative as

6344-412: The crisis spread, other Southeast Asian countries and later Japan and South Korea saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt . Foreign debt-to-GDP ratios rose from 100% to 167% in the four large Association of Southeast Asian Nations (ASEAN) economies in 1993–96, then shot up beyond 180% during the worst of the crisis. In South Korea,

SECTION 60

#1732784046782

6448-482: The debacle are many and disputed. Thailand's economy developed into an economic bubble fueled by hot money . More and more was required as the size of the bubble grew. The same type of situation happened in Malaysia and Indonesia, which had the added complication of what was called " crony capitalism ". The short-term capital flow was expensive and often highly conditioned for quick profit . Development money went in

6552-642: The domestic situation in Indonesia. After 30 years in power, Indonesian President Suharto was forced to step down on 21 May 1998 in the wake of widespread rioting that followed sharp price increases caused by a drastic devaluation of the rupiah . The effects of the crisis lingered through 1998, where many important stocks fell in Wall Street as a result of a dip in the values of the currencies of Russia and Latin American countries that weakened those countries' "demand for U.S. exports." In 1998, growth in

6656-691: The economic environment. The devaluation of the Chinese renminbi and the Japanese yen , subsequent to the latter's strengthening due to the Plaza Accord of 1985, the raising of U.S. interest rates which led to a strong U.S. dollar, and the sharp decline in semiconductor prices, all adversely affected their growth. As the U.S. economy recovered from a recession in the early 1990s, the U.S. Federal Reserve Bank under Alan Greenspan began to raise U.S. interest rates to head off inflation . This made

6760-948: The field of rhetoric , genre theorists usually understand genres as types of actions rather than types or forms of texts. On this perspective, texts are channels through which genres are enacted. Carolyn Miller's work has been especially important for this perspective. Drawing on Lloyd Bitzer 's concept of rhetorical situation, Miller reasons that recurring rhetorical problems tend to elicit recurring responses; drawing on Alfred Schütz , she reasons that these recurring responses become "typified" – that is, socially constructed as recognizable types. Miller argues that these "typified rhetorical actions" (p. 151) are properly understood as genres. Building off of Miller, Charles Bazerman and Clay Spinuzzi have argued that genres understood as actions derive their meaning from other genres – that is, other actions. Bazerman therefore proposes that we analyze genres in terms of "genre systems", while Spinuzzi prefers

6864-504: The financial conditions in Asia (subsequently leading to the depreciation of the Thai baht on 2 July 1997). Several case studies on the topic of the application of network analysis of a financial system help to explain the interconnectivity of financial markets , as well as the significance of the robustness of hubs (or main nodes). Any negative externalities in the hubs creates

6968-593: The fourth and final type of Greek literature , was excluded by Plato as a non-mimetic mode. Aristotle later revised Plato's system by eliminating the pure narrative as a viable mode and distinguishing by two additional criteria: the object to be imitated, as objects could be either superior or inferior, and the medium of presentation such as words, gestures or verse. Essentially, the three categories of mode, object, and medium dialogue, epic (superior-mixed narrative), comedy (inferior-dramatic dialogue), and parody (inferior-mixed narrative). Genette continues by explaining

7072-497: The future, with no favored parties receiving funds by preference. In at least one of the affected countries the restrictions on foreign ownership were greatly reduced. There were to be adequate government controls set up to supervise all financial activities, ones that were to be independent, in theory, of private interest. Insolvent institutions had to be closed, and insolvency itself had to be clearly defined. In addition, financial systems were to become "transparent", that is, provide

7176-401: The genres prose or poetry , which shows best how loosely genres are defined. Additionally, a genre such as satire might appear in any of the above, not only as a subgenre but as a mixture of genres. Finally, they are defined by the general cultural movement of the historical period in which they were composed. In popular fiction , which is especially divided by genres, genre fiction is

7280-492: The genres that students will write in other contexts across the university and beyond. Elizabeth Wardle contends that standard composition courses do teach genres, but that these are inauthentic "mutt genres" that are often of little use outside composition courses. Genre is effective as a tool in rhetoric because it allows a speaker to set the context for a rhetorical discussion. Devitt, Reiff, and Bawarshi suggest that rhetorical genres may be assigned based on careful analysis of

7384-404: The highest economic growth rate of any country at the time. Inflation was kept reasonably low within a range of 3.4–5.7%. The baht was pegged at 25 to the U.S. dollar. On 14 and 15 May 1997, the Thai baht was hit by massive speculative attacks. On 30 June 1997, Prime Minister Chavalit Yongchaiyudh said that he would not devalue the baht. However, Thailand lacked the foreign reserves to support

7488-573: The integration of lyric poetry into the classical system by replacing the removed pure narrative mode. Lyric poetry , once considered non-mimetic, was deemed to imitate feelings, becoming the third "Architext", a term coined by Gennette, of a new long-enduring tripartite system: lyrical; epical, the mixed narrative; and dramatic, the dialogue. This new system that came to "dominate all the literary theory of German romanticism " (Genette 38) has seen numerous attempts at expansion and revision. Such attempts include Friedrich Schlegel 's triad of subjective form,

7592-467: The international financial community. Later that year, in July, South Korea's third-largest car maker, Kia Motors , asked for emergency loans. The domino effect of collapsing large South Korean companies drove the interest rates up and international investors away. In the wake of the Asian market downturn, Moody's lowered the credit rating of South Korea from A1 to A3, on 28 November 1997, and downgraded again to B2 on 11 December. That contributed to

7696-499: The kind of financial information used in the West to make financial decisions. As countries fell into crisis, many local businesses and governments that had taken out loans in US dollars, which suddenly became much more expensive relative to the local currency which formed their earned income, found themselves unable to pay their creditors. The dynamics of the situation were similar to that of

7800-520: The later integration of lyric poetry into the classical system during the romantic period , replacing the now removed pure narrative mode. Lyric poetry, once considered non-mimetic, was deemed to imitate feelings, becoming the third leg of a new tripartite system: lyrical, epical, and dramatic dialogue. This system, which came to "dominate all the literary theory of German romanticism (and therefore well beyond)…" (38), has seen numerous attempts at expansion or revision. However, more ambitious efforts to expand

7904-496: The lyric; objective form, the dramatic; and subjective-objective form, the epic. However, more ambitious efforts to expand the tripartite system resulted in new taxonomic systems of increasing complexity. Gennette reflected upon these various systems, comparing them to the original tripartite arrangement: "its structure is somewhat superior to most of those that have come after, fundamentally flawed as they are by their inclusive and hierarchical taxonomy, which each time immediately brings

8008-510: The more usual term. In literature , genre has been known as an intangible taxonomy . This taxonomy implies a concept of containment or that an idea will be stable forever. The earliest recorded systems of genre in Western history can be traced back to Plato and Aristotle. Gérard Genette , a French literary theorist and author of The Architext , describes Plato as creating three Imitational genres: dramatic dialogue, pure narrative, and epic (a mixture of dialogue and narrative). Lyric poetry ,

8112-847: The music of non-Western cultures. The term is now perhaps over-used to describe relatively small differences in musical style in modern rock music , that also may reflect sociological differences in their audiences. Timothy Laurie suggests that in the context of rock and pop music studies, the "appeal of genre criticism is that it makes narratives out of musical worlds that often seem to lack them". Music can be divided into different genres in several ways. The artistic nature of music means that these classifications are often arbitrary and controversial, and some genres may overlap. There are several academic approaches to genres. In his book Form in Tonal Music , Douglass M. Green lists madrigal , motet , canzona , ricercar , and dance as examples of genres from

8216-443: The path of "fast-track capitalism", meaning liberalization of the financial sector (elimination of restrictions on capital flows), maintenance of high domestic interest rates to attract portfolio investment and bank capital, and pegging of the national currency to the dollar to reassure foreign investors against currency risk. The conventional high-interest-rate economic strategy is normally employed by monetary authorities to attain

8320-537: The program, 787 insolvent financial institutions were closed or merged by June 2003. The number of financial institutions in which foreign investors invested has increased rapidly. Examples include New Bridge Capital's takeover of Korea First Bank. The South Korean won , meanwhile, weakened to more than 1,700 per U.S. dollar from around 800, but later managed to recover. However, like the chaebol, South Korea's government did not escape unscathed. Its national debt -to-GDP ratio more than doubled (approximately 13% to 30%) as

8424-464: The rate was almost exactly 8,000 to 1 U.S. dollar. Indonesia lost 13.5% of its GDP that year. In February 1998, President Suharto sacked the incumbent Bank Indonesia governor, J. Soedradjad Djiwandono , but this proved insufficient. Amidst widespread rioting in May 1998 , Suharto resigned under public pressure and Vice President B. J. Habibie replaced him. As a result of the financial crisis that hit

8528-560: The ratios rose from 13% to 21% and then as high as 40%, while the other northern newly industrialized countries fared much better. Only in Thailand and South Korea did debt service-to-exports ratios rise. South Korea , Indonesia and Thailand were the countries most affected by the crisis. Hong Kong , Laos , Malaysia and the Philippines were also hurt by the slump. Brunei , mainland China , Japan , Singapore , Taiwan , and Vietnam were less affected, although all suffered from

8632-405: The role of asymmetric information in the financial markets that led to a " herd mentality " among investors that magnified a small risk in the real economy. The crisis has thus attracted attention from behavioral economists interested in market psychology . Another possible cause of the sudden risk shock may also be attributable to the handover of Hong Kong sovereignty on 1 July 1997 . During

8736-408: The role of the real economy in the crisis compared to the financial markets. The rapidity with which the crisis happened has prompted Sachs and others to compare it to a classic bank run prompted by a sudden risk shock. Sachs pointed to strict monetary and contractionary fiscal policies implemented by the governments on the advice of the IMF in the wake of the crisis, while Frederic Mishkin points to

8840-550: The rupiah currency trading band from 8% to 12%. As a result, the rupiah suddenly came under severe attack in August. Therefore, on the 14th of the month, the managed floating exchange regime was replaced by a free-floating exchange rate arrangement. The rupiah dropped further due to the shift. The IMF came forward with a rescue package of $ 23 billion, but the rupiah was sinking further amid fears over corporate debts, massive selling of rupiah, and strong demand for dollars. The rupiah and

8944-458: The rupiah's decline, and many reacted by buying dollars through selling rupiah, undermining the value of the latter further. Before the crisis, the exchange rate between the rupiah and the dollar was roughly 2,600 rupiah to 1 U.S. dollar. The rate plunged to over 11,000 rupiah to 1 U.S. dollar on 9 January 1998, with spot rates over 14,000 during 23–26 January and trading again over 14,000 for about six weeks during June–July 1998. On 31 December 1998,

9048-519: The same fictional universe , with references to the Waterhouse, Shaftoe and Hacklheber families, as well as Societas Eruditorum and Epiphyte Corporation. Two "Wise" entities from The Baroque Cycle also appear in Fall, including Enoch Root. Peter Thiel states in his book Zero to One that Cryptonomicon was required reading during the early days of PayPal . According to critic Jay Clayton ,

9152-448: The same time, Southeast Asia's export growth slowed dramatically in the spring of 1996, deteriorating their current account position. Some economists have advanced the growing exports of China as a factor contributing to ASEAN nations' export growth slowdown, though these economists maintain the main cause of their crises was excessive real estate speculation. China had begun to compete effectively with other Asian exporters particularly in

9256-431: The same, saying that genre should be defined as pieces of music that share a certain style or "basic musical language". Others, such as Allan F. Moore, state that genre and style are two separate terms, and that secondary characteristics such as subject matter can also differentiate between genres. A music genre or subgenre may be defined by the musical techniques , the styles, the context, and content and spirit of

9360-563: The search for products by consumers, a trend the Internet has only intensified. In philosophy of language , genre figures prominently in the works of philosopher and literary scholar Mikhail Bakhtin . Bakhtin's basic observations were of "speech genres" (the idea of heteroglossia ), modes of speaking or writing that people learn to mimic, weave together, and manipulate (such as "formal letter" and "grocery list", or "university lecture" and "personal anecdote"). In this sense, genres are socially specified: recognized and defined (often informally) by

9464-429: The search hits might fit. A subgenre is a subordinate within a genre, Two stories being the same genre can still sometimes differ in subgenre. For example, if a fantasy story has darker and more frightening elements of fantasy, it would belong in the subgenre of dark fantasy ; whereas another fantasy story that features magic swords and wizards would belong to the subgenre of sword and sorcery . A microgenre

9568-541: The subject matter and consideration of the audience. Genre is related to Ludwig Wittgenstein's theory of Family resemblance in which he describes how genres act like a family tree, where members of a family are related, but not exact copies of one another. This concept of genre originated from the classification systems created by Plato . Plato divided literature into the three classic genres accepted in Ancient Greece : poetry , drama , and prose . Poetry

9672-623: The themes. Geographical origin is sometimes used to identify a music genre, though a single geographical category will often include a wide variety of subgenres. Several music scholars have criticized the priority accorded to genre-based communities and listening practices. For example, Laurie argues that "music genres do not belong to isolated, self-sufficient communities. People constantly move between environments where diverse forms of music are heard, advertised and accessorised with distinctive iconographies, narratives and celebrity identities that also touch on non-musical worlds." The concept of genre

9776-466: The tide of capital fleeing these countries was not to be stopped, the authorities ceased defending their fixed exchange rates and allowed their currencies to float . The resulting depreciated value of those currencies meant that foreign currency-denominated liabilities grew substantially in domestic currency terms, causing more bankruptcies and further deepening the crisis. Other economists, including Joseph Stiglitz and Jeffrey Sachs , have downplayed

9880-494: The title is a play on Necronomicon , the title of a book mentioned in the stories of horror writer H. P. Lovecraft : I wanted to give it a title a 17th-century book by a scholar would be likely to have. And that's how I came up with Cryptonomicon . I've heard the word Necronomicon bounced around. I haven't actually read the Lovecraft books, but clearly it's formed by analogy to that. The novel's Cryptonomicon, described as

9984-456: The tripartite system resulted in new taxonomic systems of increasing scope and complexity. Genette reflects upon these various systems, comparing them to the original tripartite arrangement: "its structure is somewhat superior to…those that have come after, fundamentally flawed as they are by their inclusive and hierarchical taxonomy, which each time immediately brings the whole game to a standstill and produces an impasse" (74). Taxonomy allows for

10088-952: The universal essence of things" ( imitare in Italian) and that which merely consisted of "mechanical copying of particular appearances" ( ritrarre ). Idealism was privileged over realism in line with Renaissance Neo-Platonist philosophy. A literary genre is a category of literary composition. Genres may be determined by literary technique , tone , content , or even (as in the case of fiction) length. Genre should not be confused with age category, by which literature may be classified as either adult, young adult , or children's . They also must not be confused with format, such as graphic novel or picture book. The distinctions between genres and categories are flexible and loosely defined, often with subgroups. The most general genres in literature are (in loose chronological order) epic , tragedy , comedy , novel , and short story . They can all be in

10192-414: The use of genre as a tool must be able to adapt to changing meanings. The term genre is much used in the history and criticism of visual art, but in art history has meanings that overlap rather confusingly. Genre painting is a term for paintings where the main subject features human figures to whom no specific identity attaches – in other words, figures are not portraits, characters from

10296-399: The whole game to a standstill and produces an impasse". Although genres are not always precisely definable, genre considerations are one of the most important factors in determining what a person will see or read. The classification properties of genre can attract or repel potential users depending on the individual's understanding of a genre. Genre creates an expectation in that expectation

10400-574: Was a haste to build great conglomerates to compete on the world stage. Many businesses ultimately failed to ensure returns and profitability. The chaebol , South Korean conglomerates, simply absorbed more and more capital investment. Eventually, excess debt led to major failures and takeovers. Amongst other stimuli, the crisis resulted in the bankruptcy of major Korean companies, provoking not only corporations, but also government officials towards corruption. The Hanbo scandal of early 1997 exposed South Korea's economic weaknesses and corruption problems to

10504-475: Was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion . However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided. Originating in Thailand, where it

10608-505: Was dissolved due to the crisis, and eventually Daewoo Motors was sold to the American company General Motors (GM). The International Monetary Fund (IMF) provided US$ 58.4 billion as a bailout package. In return, Korea was required to take restructuring measures. The ceiling on foreign investment in Korean companies was raised from 26 percent to 100 percent. In addition, the Korean government started financial sector reform program. Under

10712-402: Was known as part of the " Asian economic miracle ". In the mid-1990s, Thailand , Indonesia and South Korea had large private current account deficits, and the maintenance of fixed exchange rates encouraged external borrowing and led to excessive exposure to foreign exchange risk in both the financial and corporate sectors. In the mid-1990s, a series of external shocks began to change

10816-488: Was known as the Tom Yum Kung crisis ( Thai : วิกฤตต้มยำกุ้ง ) on 2 July, it followed the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar . Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt . As

#781218