Indeed it was his articulation of the quantum principle in a 1905 paperwhich has been called"the most revolutionary sentence written by a physicist of thetwentieth century."Einstein's discovery of the photon in that paper led to his only Nobel Prize;years later, he was first to call attention to the "spooky"nature of quantum entanglement.
You are probably wondering, “WOW, I never thought that I will be part of this team.” Football is not for everyone and being part of a football team does not mean that you are going to be in the spotlight.
A good research paper topic is the one that is successful and manageable in your particular case. A successful research paper poses an interesting question you can actually answer. Just as important, it poses a question you can answer within the time available. The question should be one that interests you and deserves exploration. It might be an empirical question or a theoretical puzzle. In some fields, it might be a practical problem or policy issue. Whatever the question is, you need to mark off its boundaries clearly and intelligently so you can complete the research paper and not get lost in the woods. That means your topic should be manageable as well as interesting and important.
I state my opinion on players and teams that I don’t like and do like a lot what they need to improve or if they just suck and need to give up on their sports career....
Ideally, your topic can do both, engaging theoretical and substantive issues. In elementary education, for example, parents, teachers, scholars, and public officials all debate the effectiveness of charter schools, the impact of vouchers, and the value of different reading programs. A research paper on any of these would resonate within the university and well beyond it. Still, as you approach such topics, you need to limit the scope of your investigation so you can finish your research and writing on time. After all, to be a good research paper, it first has to be a completed one. A successful research paper poses an interesting question you can actually answer within the time available for the project. Some problems are simply too grand, too sweeping to master within the time limits. Some are too minor to interest you or anybody else.
Having seen recent events unfold in the way his friend and former colleague predicted, Mr. Fazzari says, “I hope he’s someplace saying, ‘Aha, I told you so!’”
Laurence Meyer, who served on the faculty with Mr. Minsky at Washington University in St. Louis, was a Federal Reserve Governor during those turbulent times. Mr. Meyer says that when he was an academic, Mr. Minsky’s work didn’t interest him very much, but that changed when he went into the real world. He says he grew to appreciate it even more when he was at the Fed watching financial crises unfold.
Several money managers are laying claim to spotting the Minsky moment first. “I featured him about 18 months ago,” says Jeremy Grantham, chairman of GMO LLC, which manages $150 billion in assets. He pointed to a note in early 2006 when he wrote that investors had become too comfortable that financial markets were safe, and consequently were taking on too much risk, just as Mr. Minsky predicted. “Guinea pigs of the world unite. We have nothing to lose but our shirts,” he concluded.
The housing market is a case in point, says Investment Technology Group Inc. economist Robert Barbera, who first met Mr. Minsky in the late 1980s. When home buyers were expected to have a down payment of 10% or 20% to qualify for a mortgage, and to provide income documentation that showed they’d be able to make payments, there was minimal risk. But as home prices rose, and speculators entered the market, lenders relaxed their guard and began offering loans with no money down and little or no documentation.
Steven Fazzari, an economics professor at Washington University, says that Mr. Minsky would have supported the Federal Reserve’s recent move to provide cash and cut the rate it charges banks on loans from its discount window to try to avert a financial crisis that could spill over to the economy. But he would probably be worried, too, that the moves might be bailing out investors who would all too soon be speculating again.
“We are in the midst of a Minsky moment, bordering on a Minsky meltdown,” says Paul McCulley, an economist and fund manager at Pacific Investment Management Co., the world’s largest bond-fund manager, in an email exchange.
At its core, the Minsky view was straightforward: When times are good, investors take on risk; the longer times stay good, the more risk they take on, until they’ve taken on too much. Eventually, they reach a point where the cash generated by their assets no longer is sufficient to pay off the mountains of debt they took on to acquire them. Losses on such speculative assets prompt lenders to call in their loans. “This is likely to lead to a collapse of asset values,” Mr. Minsky wrote.
Mr. Kindleberger showed that financial crises unfolded the way that Mr. Minsky said they would. Though a loyal follower, Mr. Kindleberger described Mr. Minsky as “a man with a reputation among monetary theorists for being particularly pessimistic, even lugubrious, in his emphasis on the fragility of the monetary system and its propensity to disaster.”