title: Literary theory

text: By the early 1990s, the popularity of "theory" as a subject of interest by itself was declining slightly (along with job openings for pure "theorists") even as the texts of literary theory were incorporated into the study of almost all literature. By 2010, the controversy over the use of theory in literary studies had quieted down, and discussions on the topic within literary and cultural studies tend now to be considerably milder and less lively. However, some scholars like Mark Bauerlein continue to argue that less capable theorists have abandoned proven methods of epistemology, resulting in persistent lapses in learning, research, and evaluation. Some scholars do draw heavily on theory in their work, while others only mention it in passing or not at all; but it is an acknowledged, important part of the study of literature.


title: Literary theory

text: One of the fundamental questions of literary theory is "what is literature?" – although many contemporary theorists and literary scholars believe either that "literature" cannot be defined or that it can refer to any use of language. Specific theories are distinguished not only by their methods and conclusions, but even by how they create meaning in a "text". However, some theorists acknowledge that these texts do not have a singular, fixed meaning which is deemed "correct".


title: Literary theory

text: Since theorists of literature often draw on a very heterogeneous tradition of Continental philosophy and the philosophy of language, any classification of their approaches is only an approximation. There are many types of literary theory, which take different approaches to texts. Even among those listed below, many scholars combine methods from more than one of these approaches (for instance, the deconstructive approach of Paul de Man drew on a long tradition of close reading pioneered by the New Critics, and de Man was trained in the European hermeneutic tradition).


title: Literary theory

text: Broad schools of theory that have historically been important include historical and biographical criticism, New Criticism, formalism, Russian formalism, and structuralism, post-structuralism, Marxism, feminism and French feminism, post-colonialism, new historicism, deconstruction, reader-response criticism, and psychoanalytic criticism.


title: Literary theory

text: The different interpretive and epistemological perspectives of different schools of theory often arise from, and so give support to, different moral and political commitments. For instance, the work of the New Critics often contained an implicit moral dimension, and sometimes even a religious one: a New Critic might read a poem by T. S. Eliot or Gerard Manley Hopkins for its degree of honesty in expressing the torment and contradiction of a serious search for belief in the modern world. Meanwhile, a Marxist critic might find such judgments merely ideological rather than critical; the Marxist would say that the New Critical reading did not keep enough critical distance from the poem's religious stance to be able to understand it. Or a post-structuralist critic might simply avoid the issue by understanding the religious meaning of a poem as an allegory of meaning, treating the poem's references to "God" by discussing their referential nature rather than what they refer to.


title: Literary theory

text: Such a disagreement cannot be easily resolved, because it is inherent in the radically different terms and goals (that is, the theories) of the critics. Their theories of reading derive from vastly different intellectual traditions: the New Critic bases his work on an East-Coast American scholarly and religious tradition, while the Marxist derives his thought from a body of critical social and economic thought, the post-structuralist's work emerges from twentieth-century Continental philosophy of language.


title: Literary theory

text: In the late 1950s, the Canadian literary critic Northrop Frye attempted to establish an approach for reconciling historical criticism and New Criticism while addressing concerns of early reader-response and numerous psychological and social approaches. His approach, laid out in his "Anatomy of Criticism", was explicitly structuralist, relying on the assumption of an intertextual "order of words" and universality of certain structural types. His approach held sway in English literature programs for several decades but lost favor during the ascendance of post-structuralism.


title: Literary theory

text: For some theories of literature (especially certain kinds of formalism), the distinction between "literary" and other sorts of texts is of paramount importance. Other schools (particularly post-structuralism in its various forms: new historicism, deconstruction, some strains of Marxism and feminism) have sought to break down distinctions between the two and have applied the tools of textual interpretation to a wide range of "texts", including film, non-fiction, historical writing, and even cultural events.


title: Literary theory

text: Mikhail Bakhtin argued that the "utter inadequacy" of literary theory is evident when it is forced to deal with the novel; while other genres are fairly stabilized, the novel is still developing.


title: Literary theory

text: Another crucial distinction among the various theories of literary interpretation is intentionality, the amount of weight given to the author's own opinions about and intentions for a work. For most pre-20th century approaches, the author's intentions are a guiding factor and an important determiner of the "correct" interpretation of texts. The New Criticism was the first school to disavow the role of the author in interpreting texts, preferring to focus on "the text itself" in a close reading. In fact, as much contention as there is between formalism and later schools, they share the tenet that the author's interpretation of a work is no more inherently meaningful than any other.


title: Literary theory

text: Listed below are some of the most commonly identified schools of literary theory, along with their major authors:


title: Solidarity

text: Solidarity is an awareness of shared interests, objectives, standards, and sympathies creating a psychological sense of unity of groups or classes. It is based on class collaboration. It refers to the ties in a society that bind people together as one. The term is generally employed in sociology and the other social sciences as well as in philosophy and bioethics. It is also a significant concept in Catholic social teaching; therefore it is a core concept in Christian democratic political ideology.


title: Solidarity

text: What forms the basis of solidarity and how it is implemented vary between societies. In global south societies it may be mainly based on kinship and shared values while global north societies accumulate various theories as to what contributes to a sense of solidarity, or rather, social cohesion. Unlike collectivism, solidarism does not reject individuals and sees individuals as the basis of society.


title: Solidarity

text: Solidarity is also one of six principles of the Charter of Fundamental Rights of the European Union and December 20 of each year is International Human Solidarity Day recognized as an international observance. Concepts of solidarity are mentioned in the Universal Declaration on Bioethics and Human Rights, but not defined clearly. As biotechnology and biomedical enhancement research and production increase, the need for distinct definition of solidarity within healthcare system frameworks is important. However, solidarity is not mentioned in the European Convention on Human Rights nor in the United Nations' Universal Declaration of Human Rights and has hence lesser legal meaning when compared to basic rights.


title: Solidarity

text: According to Émile Durkheim, the types of social solidarity correlate with types of society. Durkheim introduced the terms "mechanical" and "organic solidarity" as part of his theory of the development of societies in "The Division of Labour in Society" (1893). In a society exhibiting mechanical solidarity, its cohesion and integration comes from the homogeneity of individuals—people feel connected through similar work, educational and religious training, and lifestyle. Mechanical solidarity normally operates in "traditional" and small scale societies. In simpler societies (e.g., tribal), solidarity is usually based on kinship ties of familial networks. Organic solidarity comes from the interdependence that arises from specialization of work and the complementarities between people—a development which occurs in "modern" and "industrial" societies.


title: Solidarity

text: Although individuals perform different tasks and often have different values and interest, the order and very solidarity of society depends on their reliance on each other to perform their specified tasks. "Organic" here is referring to the interdependence of the component parts, and thus social solidarity is maintained in more complex societies through the interdependence of its component parts (e.g., farmers produce the food to feed the factory workers who produce the tractors that allow the farmer to produce the food).


title: Solidarity

text: A connection between the biological and the social was of principal importance for the idea of solidarity as expressed by the anarchist ideologist and former Prince Peter Kropotkin (1842–1921). In his most famous book, "" (1902), written partly in response to Huxleyan Social Darwinism, Kropotkin studied the use of cooperation as a survival mechanism in human societies at their various stages, as well as with animals. According to him, mutual aid, or cooperation, within a species has been an important factor in the evolution of social institutions. Solidarity is essential for mutual aid; supportive activity towards other people does not result from the expectation of reward, but rather from instinctive feelings of solidarity.


title: Solidarity

text: In his introduction to the book, Kropotkin wrote: "The number and importance of mutual-aid institutions which were developed by the creative genius of the savage and half-savage masses, during the earliest clan-period of mankind and still more during the next village-community period, and the immense influence which these early institutions have exercised upon the subsequent development of mankind, down to the present times, induced me to extend my researches to the later, historical periods as well; especially, to study that most interesting period – the free medieval city republics, whose universality and influence upon our modern civilization have not yet been duly appreciated. And finally, I have tried to indicate in brief the immense importance which the mutual-support instincts, inherited by mankind from its extremely long evolution, play even now in our modern society, which is supposed to rest upon the principle "every one for himself, and the State for all," but which it never has succeeded, nor will succeed in realizing". Kropotkin advocated an alternative economic and social system, which would be coordinated through a horizontal network of voluntary associations with goods distributed in compliance with the physical needs of the individual, rather than according to labour.


title: Solidarity

text: Solidarity is a re-emerging concept in contemporary philosophy within various sub-fields of law, ethics, and political philosophy. Early ancient philosophers such as Socrates and Aristotle discuss solidarity as a virtue ethics framework because in order to live a good life one must perform actions and behave in a way that is in solidarity with the community.


title: Solidarity

text: One notable approach in bioethics is to identify solidarity primarily as a three-tiered practice enacted at the interpersonal, communal, and contractual and legal levels. This approach is driven by the quest to differentiate between the diverse applications of the concept and to clarify its meaning, both historically and in terms of its potential as a fruitful concept for contemporary moral, social and political issues. The modern practice of bioethics is significantly influenced by Immanuel Kant's concept of the Categorical Imperative. Pastor and philosopher Fritz Jahr's article "Bio-Ethics: A Review of the Ethical Relationships of Humans to Animals and Plants" refines Kant's original Categorical Imperative discourse by including the notion of the Bioethical Imperative.


title: Solidarity

text: Biomedical technology has also further introduced solidarity as the pivotal concept in bioethics. Scholars, such as Ori Levi, bring to attention the negative implications of biomedical enhancements. Another scholar, Dr. Meulen ter Ruud, discusses the application of solidarity within healthcare systems.


title: Solidarity

text: Fritz Jahr describes that bioethics is ultimately made up of "academic discipline, principle, and virtue". This echoes back to the deep influence Socrates has on the normalization of bioethics and its practices. Jahr utilizes Kant's Categorical Imperative to demonstrate the obligatory, yet innately human practice of the Bioethical Imperative:"This results in the guiding principle for our actions is the "Bioethical Imperative": Respect every living being in general as an end in itself, and treat it if possible, as such"as it arises in the relationships not only between conscious human being, but also with plants and other animal species. Jahr fully believes that in order to truly practice bioethics, one must be in solidarity with all forms of life. If one only decides to be in solidarity in humans, then one should not behave virtuously in any manner.


title: Solidarity

text: The Church's teaching on solidarity is explained in the Compendium of the Social Doctrine of the Church, and briefly summarised in the Catechism of the Catholic Church:


title: Fixed exchange rate system

text: A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold.


title: Fixed exchange rate system

text: There are benefits and risks to using a fixed exchange rate system. A fixed exchange rate is typically used to stabilize the exchange rate of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the currency is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike in a floating (flexible) exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of their GDP.


title: Fixed exchange rate system

text: A fixed exchange rate system can also be used to control the behavior of a currency, such as by limiting rates of inflation. However, in doing so, the pegged currency is then controlled by its reference value. As such, when the reference value rises or falls, it then follows that the value(s) of any currencies pegged to it will also rise and fall in relation to other currencies and commodities with which the pegged currency can be traded. In other words, a pegged currency is dependent on its reference value to dictate how its current worth is defined at any given time. In addition, according to the Mundell–Fleming model, with perfect capital mobility, a fixed exchange rate prevents a government from using domestic monetary policy to achieve macroeconomic stability.


title: Fixed exchange rate system

text: In a fixed exchange rate system, a country's central bank typically uses an open market mechanism and is committed at all times to buy and/or sell its currency at a fixed price in order to maintain its pegged ratio and, hence, the stable value of its currency in relation to the reference to which it is pegged. To maintain a desired exchange rate, the central bank during a time of private sector net demand for the foreign currency, sells foreign currency from its reserves and buys back the domestic money. This creates an artificial demand for the domestic money, which increases its exchange rate value. Conversely, in the case of an incipient appreciation of the domestic money, the central bank buys back the foreign money and thus adds domestic money into the market, thereby maintaining market equilibrium at the intended fixed value of the exchange rate.


title: Fixed exchange rate system

text: In the 21st century, the currencies associated with large economies typically do not fix (peg) their exchange rates to other currencies. The last large economy to use a fixed exchange rate system was the People's Republic of China, which, in July 2005, adopted a slightly more flexible exchange rate system, called a managed exchange rate. The European Exchange Rate Mechanism is also used on a temporary basis to establish a final conversion rate against the euro from the local currencies of countries joining the Eurozone.


title: Fixed exchange rate system

text: The gold standard or gold exchange standard of fixed exchange rates prevailed from about 1870 to 1914, before which many countries followed bimetallism. The period between the two world wars was transitory, with the Bretton Woods system emerging as the new fixed exchange rate regime in the aftermath of World War II. It was formed with an intent to rebuild war-ravaged nations after World War II through a series of currency stabilization programs and infrastructure loans. The early 1970s saw the breakdown of the system and its replacement by a mixture of fluctuating and fixed exchange rates.


title: Fixed exchange rate system

text: The earliest establishment of a gold standard was in the United Kingdom in 1821 followed by Australia in 1852 and Canada in 1853. Under this system, the external value of all currencies was denominated in terms of gold with central banks ready to buy and sell unlimited quantities of gold at the fixed price. Each central bank maintained gold reserves as their official reserve asset. For example, during the "classical" gold standard period (1879–1914), the U.S. dollar was defined as 0.048 troy oz. of pure gold.


title: Fixed exchange rate system

text: Following the Second World War, the Bretton Woods system (1944–1973) replaced gold with the U.S. dollar as the official reserve asset. The regime intended to combine binding legal obligations with multilateral decision-making through the International Monetary Fund (IMF). The rules of this system were set forth in the articles of agreement of the IMF and the International Bank for Reconstruction and Development. The system was a monetary order intended to govern currency relations among sovereign states, with the 44 member countries required to establish a parity of their national currencies in terms of the U.S. dollar and to maintain exchange rates within 1% of parity (a "band") by intervening in their foreign exchange markets (that is, buying or selling foreign money). The U.S. dollar was the only currency strong enough to meet the rising demands for international currency transactions, and so the United States agreed both to link the dollar to gold at the rate of $35 per ounce of gold and to convert dollars into gold at that price.


title: Fixed exchange rate system

text: Due to concerns about America's rapidly deteriorating payments situation and massive flight of liquid capital from the U.S., President Richard Nixon suspended the convertibility of the dollar into gold on 15 August 1971. In December 1971, the Smithsonian Agreement paved the way for the increase in the value of the dollar price of gold from US$35.50 to US$38 an ounce. Speculation against the dollar in March 1973 led to the birth of the independent float, thus effectively terminating the Bretton Woods system.


title: Fixed exchange rate system

text: Since March 1973, the floating exchange rate has been followed and formally recognized by the Jamaica accord of 1978. Countries use foreign exchange reserves to intervene in foreign exchange markets to balance short-run fluctuations in exchange rates. The prevailing exchange rate regime is often considered a revival of Bretton Woods policies, namely Bretton Woods II.


title: Fixed exchange rate system

text: Typically, a government wanting to maintain a fixed exchange rate does so by either buying or selling its own currency on the open market. This is one reason governments maintain reserves of foreign currencies.


title: Fixed exchange rate system

text: If the exchange rate drifts too far above the fixed benchmark rate (it is stronger than required), the government sells its own currency (which increases supply) and buys foreign currency. This causes the price of the currency to decrease in value (Read: Classical Demand-Supply diagrams). Also, if they buy the currency it is pegged to, then the price of that currency will increase, causing the relative value of the currencies to approach what is intended.


title: Fixed exchange rate system

text: If the exchange rate drifts too far below the desired rate, the government buys its own currency in the market by selling its reserves. This places greater demand on the market and causes the local currency to become stronger, hopefully back to its intended value. The reserves they sell may be the currency it is pegged to, in which case the value of that currency will fall.


title: Fixed exchange rate system

text: Another, less used means of maintaining a fixed exchange rate is by simply making it illegal to trade currency at any other rate. This is difficult to enforce and often leads to a black market in foreign currency. Nonetheless, some countries are highly successful at using this method due to government monopolies over all money conversion. This was the method employed by the Chinese government to maintain a currency peg or tightly banded float against the US dollar. China buys an average of one billion US dollars a day to maintain the currency peg. Throughout the 1990s, China was highly successful at maintaining a currency peg using a government monopoly over all currency conversion between the yuan and other currencies.


title: Fixed exchange rate system

text: Under this system, the central bank first announces a fixed exchange-rate for the currency and then agrees to buy and sell the domestic currency at this value. The market equilibrium exchange rate is the rate at which supply and demand will be equal, i.e., markets will clear. In a flexible exchange rate system, this is the spot rate. In a fixed exchange-rate system, the pre-announced rate may not coincide with the market equilibrium exchange rate. The foreign central banks maintain reserves of foreign currencies and gold which they can sell in order to intervene in the foreign exchange market to make up the excess demand or take up the excess supply


title: Fixed exchange rate system

text: The demand for foreign exchange is derived from the domestic demand for foreign goods, services, and financial assets. The supply of foreign exchange is similarly derived from the foreign demand for goods, services, and financial assets coming from the home country. Fixed exchange-rates are not permitted to fluctuate freely or respond to daily changes in demand and supply. The government fixes the exchange value of the currency. For example, the European Central Bank (ECB) may fix its exchange rate at €1 = $1 (assuming that the euro follows the fixed exchange-rate). This is the central value or par value of the euro. Upper and lower limits for the movement of the currency are imposed, beyond which variations in the exchange rate are not permitted. The "band" or "spread" in Fig.1 is €0.6 (from €1.2 to €1.8).


title: Fixed exchange rate system

text: Fig.2 describes the excess demand for dollars. This is a situation where domestic demand for foreign goods, services, and financial assets exceeds the foreign demand for goods, services, and financial assets from the European Union. If the demand for dollar rises from DD to D'D', excess demand is created to the extent of "cd". The ECB will sell "cd" dollars in exchange for euros to maintain the limit within the band. Under a floating exchange rate system, equilibrium would have been achieved at "e".


title: Fixed exchange rate system

text: When the ECB sells dollars in this manner, its official dollar reserves decline and domestic money supply shrinks. To prevent this, the ECB may purchase government bonds and thus meet the shortfall in money supply. This is called sterilized intervention in the foreign exchange market.


title: Fixed exchange rate system

text: When the ECB starts running out of reserves, it may also devalue the euro in order to reduce the excess demand for dollars, i.e., narrow the gap between the equilibrium and fixed rates.


title: Fixed exchange rate system

text: Fig.3 describes the excess supply of dollars. This is a situation where the foreign demand for goods, services, and financial assets from the European Union exceeds the European demand for foreign goods, services, and financial assets. If the supply of dollars rises from SS to S'S', excess supply is created to the extent of "ab". The ECB will buy "ab" dollars in exchange for euros to maintain the limit within the band. Under a floating exchange rate system, equilibrium would again have been achieved at "e".


title: Fixed exchange rate system

text: When the ECB buys dollars in this manner, its official dollar reserves increase and domestic money supply expands, which may lead to inflation. To prevent this, the ECB may sell government bonds and thus counter the rise in money supply.


title: Fixed exchange rate system

text: When the ECB starts accumulating excess reserves, it may also revalue the euro in order to reduce the excess supply of dollars, i.e., narrow the gap between the equilibrium and fixed rates. This is the opposite of devaluation.


title: Fixed exchange rate system

text: Under the gold standard, a country's government declares that it will exchange its currency for a certain weight in gold. In a pure gold standard, a country's government declares that it will freely exchange currency for actual gold at the designated exchange rate. This "rule of exchange” allows anyone to enter the central bank and exchange coins or currency for pure gold or vice versa. The gold standard works on the assumption that there are no restrictions on capital movements or export of gold by private citizens across countries.


title: Fixed exchange rate system

text: Because the central bank must always be prepared to give out gold in exchange for coin and currency upon demand, it must maintain gold reserves. Thus, this system ensures that the exchange rate between currencies remains fixed. For example, under this standard, a £1 gold coin in the United Kingdom contained 113.0016 grains of pure gold, while a gold coin in the United States contained 23.22 grains. The mint parity or the exchange rate was thus:


title: Fixed exchange rate system

text: R = $/£ = 113.0016/23.22 = 4.87. The main argument in favor of the gold standard is that it ties the world price level to the world supply of gold, thus preventing inflation unless there is a gold discovery (a gold rush, for example).


title: Fixed exchange rate system

text: The automatic adjustment mechanism under the gold standard is the price specie flow mechanism, which operates so as to correct any balance of payments disequilibrium and adjust to shocks or changes. This mechanism was originally introduced by Richard Cantillon and later discussed by David Hume in 1752 to refute the mercantilist doctrines and emphasize that nations could not continuously accumulate gold by exporting more than their imports.


title: Fixed exchange rate system

text: Adjustment under a gold standard involves the flow of gold between countries resulting in equalization of prices satisfying purchasing power parity, and/or equalization of rates of return on assets satisfying interest rate parity at the current fixed exchange rate. Under the gold standard, each country's money supply consisted of either gold or paper currency backed by gold. Money supply would hence fall in the deficit nation and rise in the surplus nation. Consequently, internal prices would fall in the deficit nation and rise in the surplus nation, making the exports of the deficit nation more competitive than those of the surplus nations. The deficit nation's exports would be encouraged and the imports would be discouraged till the deficit in the balance of payments was eliminated.


title: Fixed exchange rate system

text: In a reserve currency system, the currency of another country performs the functions that gold has in a gold standard. A country fixes its own currency value to a unit of another country's currency, generally a currency that is prominently used in international transactions or is the currency of a major trading partner. For example, suppose India decided to fix its currency to the dollar at the exchange rate E₹/$ = 45.0. To maintain this fixed exchange rate, the Reserve Bank of India would need to hold dollars on reserve and stand ready to exchange rupees for dollars (or dollars for rupees) on demand at the specified exchange rate. In the gold standard the central bank held gold to exchange for "its own currency", with a reserve currency standard it must hold a stock of the "reserve currency".


title: Fixed exchange rate system

text: Currency board arrangements are the most widespread means of fixed exchange rates. Under this, a nation rigidly pegs its currency to a foreign currency, special drawing rights (SDR) or a basket of currencies. The central bank's role in the country's monetary policy is therefore minimal as its money supply is equal to its foreign reserves. Currency boards are considered hard pegs as they allow central banks to cope with shocks to money demand without running out of reserves. CBAs have been operational in many nations including:


title: Fixed exchange rate system

text: The fixed exchange rate system set up after World War II was a gold-exchange standard, as was the system that prevailed between 1920 and the early 1930s. A gold exchange standard is a mixture of a reserve currency standard and a gold standard. Its characteristics are as follows:


title: Fixed exchange rate system

text: Unlike the gold standard, the central bank of the reserve country does not exchange gold for currency with the general public, only with other central banks.


title: Fixed exchange rate system

text: The current state of foreign exchange markets does not allow for the rigid system of fixed exchange rates. At the same time, freely floating exchange rates expose a country to volatility in exchange rates. Hybrid exchange rate systems have evolved in order to combine the characteristics features of fixed and flexible exchange rate systems. They allow fluctuation of the exchange rates without completely exposing the currency to the flexibility of a free float.


title: Fixed exchange rate system

text: Countries often have several important trading partners or are apprehensive of a particular currency being too volatile over an extended period of time. They can thus choose to peg their currency to a weighted average of several currencies (also known as a currency basket) . For example, a composite currency may be created consisting of 100 Indian rupees, 100 Japanese yen and one Singapore dollar. The country creating this composite would then need to maintain reserves in one or more of these currencies to intervene in the foreign exchange market.


title: Fixed exchange rate system

text: A popular and widely used composite currency is the SDR, which is a composite currency created by the International Monetary Fund (IMF), consisting of a fixed quantity of U.S. dollars, Chinese yuan, euros, Japanese yen, and British pounds.


title: Fixed exchange rate system

text: In a crawling peg system a country fixes its exchange rate to another currency or basket of currencies. This fixed rate is changed from time to time at periodic intervals with a view to eliminating exchange rate volatility to some extent without imposing the constraint of a fixed rate. Crawling pegs are adjusted gradually, thus avoiding the need for interventions by the central bank (though it may still choose to do so in order to maintain the fixed rate in the event of excessive fluctuations).


title: Fixed exchange rate system

text: A currency is said to be pegged within a band when the central bank specifies a central exchange rate with reference to a single currency, a cooperative arrangement, or a currency composite. It also specifies a percentage allowable deviation on both sides of this central rate. Depending on the band width, the central bank has discretion in carrying out its monetary policy. The band itself may be a crawling one, which implies that the central rate is adjusted periodically. Bands may be symmetrically maintained around a crawling central parity (with the band moving in the same direction as this parity does). Alternatively, the band may be allowed to widen gradually without any pre-announced central rate.


title: Fixed exchange rate system

text: A currency board (also known as 'linked exchange rate system") effectively replaces the central bank through a legislation to fix the currency to that of another country. The domestic currency remains perpetually exchangeable for the reserve currency at the fixed exchange rate. As the anchor currency is now the basis for movements of the domestic currency, the interest rates and inflation in the domestic economy would be greatly influenced by those of the foreign economy to which the domestic currency is tied. The currency board needs to ensure the maintenance of adequate reserves of the anchor currency. It is a step away from officially adopting the anchor currency (termed as currency substitution).


title: Fixed exchange rate system

text: This is the most extreme and rigid manner of fixing exchange rates as it entails adopting the currency of another country in place of its own. The most prominent example is the eurozone, where 19 European Union (EU) member states have adopted the euro (€) as their common currency (euroization). Their exchange rates are effectively fixed to each other.


title: Fixed exchange rate system

text: There are similar examples of countries adopting the U.S. dollar as their domestic currency (dollarization): British Virgin Islands, Caribbean Netherlands, East Timor, Ecuador, El Salvador, Marshall Islands, Federated States of Micronesia, Palau, Panama, Turks and Caicos Islands and Zimbabwe.


title: Fixed exchange rate system

text: Monetary co-operation is the mechanism in which two or more monetary policies or exchange rates are linked, and can happen at regional or international level. The monetary co-operation does not necessarily need to be a voluntary arrangement between two countries, as it is also possible for a country to link its currency to another countries currency without the consent of the other country. Various forms of monetary co-operations exist, which range from fixed parity systems to monetary unions. Also, numerous institutions have been established to enforce monetary co-operation and to stabilise exchange rates, including the European Monetary Cooperation Fund (EMCF) in 1973 and the International Monetary Fund (IMF)


title: Fixed exchange rate system

text: Monetary co-operation is closely related to economic integration, and are often considered to be reinforcing processes. However, economic integration is an economic arrangement between different regions, marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies, whereas monetary co-operation is focussed on currency linkages. A monetary union is considered to be the crowning step of a process of monetary co-operation and economic integration. In the form of monetary co-operation where two or more countries engage in a mutually beneficial exchange, capital among the countries involved is free to move, in contrast to capital controls. Monetary co-operation is considered to promote balanced economic growth and monetary stability, but can also work counter-effectively if the member countries have (strongly) differing levels of economic development. Especially European and Asian countries have a history of monetary and exchange rate co-operation, however the European monetary co-operation and economic integration eventually resulted in a European monetary union.


title: Fixed exchange rate system

text: In 1973, the currencies of the European Economic Community countries, Belgium, France, Germany, Italy, Luxemburg and the Netherlands, participated in an arrangement called "the Snake". This arrangement is categorized as exchange rate co-operation. During the next 6 years, this agreement allowed the currencies of the participating countries to fluctuate within a band of plus or minus 2¼% around pre-announced central rates. Later, in 1979, the European Monetary System (EMS) was founded, with the participating countries in "‘the Snake’" being founding members. The EMS evolves over the next decade and even results into a truly fixed exchange rate at the start of the 1990s. Around this time, in 1990, the EU introduced the Economic and Monetary Union (EMU), as an umbrella term for the group of policies aimed at converging the economies of member states of the European Union over three phases


title: Fixed exchange rate system

text: In 1963, the Thai government established the Exchange Equalization Fund (EEF) with the purpose of playing a role in stabilizing exchange rate movements. It linked to the U.S. dollar by fixing the amount of gram of gold per baht as well as the baht per U.S. dollar. Over the course of the next 15 years, the Thai government decided to depreciate the baht in terms of gold three times, yet maintain the parity of the baht against the U.S. dollar. Due to the introduction of a new generalized floating exchange rate system by the International Monetary Fund (IMF) in 1978 that gave a smaller role to gold in the international monetary system, this fixed parity system as a monetary co-operation policy was terminated. The Thai government amended its monetary policies to be more in line with the new IMF policy.


title: Fixed exchange rate system

text: One main criticism of a fixed exchange rate is that flexible exchange rates serve to adjust the balance of trade. When a trade deficit occurs under a floating exchange rate, there will be increased demand for the foreign (rather than domestic) currency which will push up the price of the foreign currency in terms of the domestic currency. That in turn makes the price of foreign goods less attractive to the domestic market and thus pushes down the trade deficit. Under fixed exchange rates, this automatic rebalancing does not occur.


title: Fixed exchange rate system

text: Another major disadvantage of a fixed exchange-rate regime is the possibility of the central bank running out of foreign exchange reserves when trying to maintain the peg in the face of demand for foreign reserves exceeding their supply. This is called a currency crisis or balance of payments crisis, and when it happens the central bank must devalue the currency. When there is the prospect of this happening, private-sector agents will try to protect themselves by decreasing their holdings of the domestic currency and increasing their holdings of the foreign currency, which has the effect of increasing the likelihood that the forced devaluation will occur. A forced devaluation will change the exchange rate by more than the day-by-day exchange rate fluctuations under a flexible exchange rate system.


title: Fixed exchange rate system

text: Moreover, a government, when having a fixed rather than dynamic exchange rate, cannot use monetary or fiscal policies with a free hand. For instance, by using reflationary tools to set the economy growing faster (by decreasing taxes and injecting more money in the market), the government risks running into a trade deficit. This might occur as the purchasing power of a common household increases along with inflation, thus making imports relatively cheaper.


title: Fixed exchange rate system

text: Additionally, the stubbornness of a government in defending a fixed exchange rate when in a trade deficit will force it to use deflationary measures (increased taxation and reduced availability of money), which can lead to unemployment. Finally, other countries with a fixed exchange rate can also retaliate in response to a certain country using the currency of theirs in defending their exchange rate.


title: Fixed exchange rate system

text: The belief that the fixed exchange rate regime brings with it stability is only partly true, since speculative attacks tend to target currencies with fixed exchange rate regimes, and in fact, the stability of the economic system is maintained mainly through capital control. A fixed exchange rate regime should be viewed as a tool in capital control.


title: Gowind-class design

text: The Gowind design is a family of steel monohull frigates, corvettes and offshore patrol vessels developed since 2006 by France's Naval Group, formerly known as DCNS, to conduct missions in the littoral zone such as anti-submarine warfare (ASW). The Gowind family includes vessels with lengths from and displacement from 1,000 tons to 3,100 tons.


title: Gowind-class design

text: The Gowind design can deploy unmanned aerial vehicles (UAVs), unmanned surface vehicles (USVs) and underwater unmanned vehicles (UUVs). An aft deck has been provided allowing for a 10-ton class helicopter or UAV operations.


title: Gowind-class design

text: The platform's weapon system consists of a multi-functional radar and VL MICA surface-to-air missiles (SAM). It is armed with Exocet anti-ship missiles. The propulsion system is based on Combined Diesel and Diesel (CODAD) and includes water-jets for improved maneuverability in shallow waters and high-speed performance. There is no funnel on these ships. The radar and other sensors are mounted on a single central mast thus allowing 360-degree view. Naval Group offers two variants of the design: Gowind 1000 and Gowind 2500 while Malaysia with the assistance of Naval Group locally developed the Gowind 3100.


title: Gowind-class design

text: As of October 2021, the Greek government is in discussions with Naval Group about the acquisition of up to seven Gowind corvettes with three of them being built in Greece.


title: Gowind-class design

text: The Gowind class originally consisted of offshore patrol vessels (OPVs) but after a rearrangement of products Naval Group decided to remove the OPV from the Gowind class and develop the OPVs as a class of their own with top of the range. To do so it formed the Kership joint venture with the Piriou shipyard in Concarneau, Brittany in May 2013 to build and market lightly armed and armoured OPVs for customs, fishing and other home security missions. Naval Group said this would enable it to concentrate on "developing relations" with clients seeking heavily armed and armoured warships while Kership handles the more civilian-standard OPVs.


title: Gowind-class design

text: The Gowind 1000 is a 1,000-ton corvette designed for protection, escort and embargo naval missions in a littoral environment. The Gowind 1000 can also perform presence, surveillance, intelligence and policing missions.


title: Gowind-class design

text: The Gowind 2500 multi-mission corvette is designed for surveillance, surface and subsurface combat, protection and escort naval missions. It can also perform presence, maritime surveillance and policing missions against trafficking and piracy.


title: Gowind-class design

text: In 2014, Egypt signed a €1bn contract with Naval Group to buy four Gowind 2,500-ton corvettes with an option for two more. Separately, MBDA negotiated a contract to equip the ships with MICA vertical launch air-defense missiles and MM40 Block 3 Exocet anti-ship missiles, together worth an additional 400 million euros, while Naval Group negotiated a 100–200 million euro contract for torpedoes. Three of the corvettes are to be built locally by Alexandria Shipyard within a technology transfer agreement. It was apparently President Abdel Fattah el-Sisi who decided these were the ships he wanted rather than the Meko A200 being offered by German group ThyssenKrupp Marine Systems (TKMS) or the Sigma corvette proposed by Damen of the Netherlands. Egypt is in talks with France to acquire another two Gowind corvettes which, if ordered, would be produced by France in Lorient.


title: Gowind-class design

text: In April 2015, Naval Group started cutting metal for the very first Gowind 2500 corvette, with a planned construction period of 29 months. It is the first of a series of four units that will be delivered to Egypt before 2019. The corvette's first block was laid in the dry dock in September 2015. Naval Group celebrated the launch of the first Egyptian Gowind corvette "El Fateh" at the Lorient naval shipyard in September 2016. "El Fateh" successfully concluded its first sea trials by the end of March 2017. The Egyptian Navy took delivery of the vessel in September 2017, three years after the order was placed.


title: Gowind-class design

text: Alexandria Shipyard started cutting metal for the second Gowind corvette intended for the Egyptian Navy in April 2016, it is the first corvette to be built locally in Egypt. Naval Group sent supervision and technical assistance teams, technical data and necessary components to Alexandria for assisting Egypt in the local construction of the three corvettes. The company also provided training for the Egyptian staff at its site in Lorient. All the Panoramic Sensors and Intelligence Modules (PSIM) were produced and tested in Lorient by Naval Group and later shipped to Alexandria for installation on the corvettes. The launching ceremony of the second Gowind corvette "Port Said" took place in September 2018 in Alexandria.


title: Gowind-class design

text: Construction work on the third vessel has already started, its first block was laid in the dry dock by July 2018.


title: Gowind-class design

text: Malaysia is locally designing and building six stealth frigates displacing 3,100 tons and length 111 meter based on the design of the Gowind corvette.


title: Gowind-class design

text: Argentina chose the OPV variant (Kership design). After repeated negotiations and break-offs, in February 2018 the Argentine Navy was instructed to restart negotiations with Naval Group for the procurement of four Gowind-class vessels. The decision was motivated by the meeting between Argentine President Mauricio Macri and French President Emmanuel Macron at the annual World Economic Forum summit in Davos, Switzerland. An order for four vessels was expected in July 2018. In November 2018, Argentina confirmed the purchase of four Gowind-class vessels. The purchase includes the already-built , which in 2016 visited the region on a marketing trip, and three new vessels.


title: Gowind-class design

text: In 2019 March 25, the United Arab Emirates Navy had signed a contract with Naval Group for Euro750 million (USD850m) for two 2500 class frigates (actually weighing 2,700 tonnes) with options for two more, to be built in partnership with Abu Dhabi Ship Building Company (ADSB). They will be equipped with Naval Group's SETIS combat management system, MBDA's Exocet missile, Raytheon's Evolved Sea Sparrow missiles. This contract was announced in mid-June 2019 by Naval Group.


title: Gowind-class design

text: In July 2019, Naval Group won a €1.2 billion contract, which includes the construction of four new Gowind multi-mission corvettes for the Romanian Navy, as well as a new maintenance center and a training center. Naval Group is due to build the first corvette within three years, while the remaining three corvettes will be constructed by Constanța Shipyard and be delivered before 2026.


title: Gowind-class design

text: In January 2020 the Indonesian Minister of Defence Prabowo Subianto, during a bilateral meeting in France with his French counterpart Florence Parly, said the Indonesian Ministry is interested in French military equipment; including 36 Dassault Rafale aircraft, (in negotiation) submarines, and 2 Gowind corvettes. On 7 June 2021, Indonesia signed a letter of intent to buy two Gowind corvettes from France.


title: Gowind-class design

text: Greece is interested in 5 Gowind 2800HN corvettes based on the Gowind 2500 for the Hellenic Navy as part of a $5 billion defence package.


title: 78th Golden Globe Awards

text: The 78th Golden Globe Awards honored the best in American television of 2020, as well as film in 2020 and early 2021, as chosen by the Hollywood Foreign Press Association (HFPA). The ceremony took place on February 28, 2021, nearly two months later than normal, due to the impact of the COVID-19 pandemic on cinema and on television. Produced by Dick Clark Productions and the HFPA, and aired live on NBC in the United States, this was the first bi-coastal ceremony, with Tina Fey co-hosting from The Rainbow Room in New York City, and Amy Poehler co-hosting from The Beverly Hilton in Beverly Hills, California.


title: 78th Golden Globe Awards

text: The nominees were announced on February 3, 2021. Jane Fonda and Norman Lear were announced as the recipients of the Cecil B. DeMille Award and the Carol Burnett Award, respectively.


title: 78th Golden Globe Awards

text: With four wins, "The Crown" won the most awards at the ceremony, including Best Television Series – Drama. "Schitt's Creek" and "The Queen's Gambit" won two awards each, with "Schitt's Creek" winning Best Television Series – Musical or Comedy and "The Queen's Gambit" winning Best Miniseries or Television Film. In film, "Borat Subsequent Moviefilm", "Nomadland", and "Soul" won two awards each, with "Nomadland" winning Best Motion Picture – Drama and "Borat Subsequent Moviefilm" winning Best Motion Picture – Musical or Comedy.


title: 78th Golden Globe Awards

text: Tina Fey and Amy Poehler were announced as the hosts of the ceremony, for the fourth time, in January 2020. By June 2020, the HFPA decided to postpone the ceremony from its normal date in early January to February 28 due to both the impact of the COVID-19 pandemic on cinema and on television production. On February 2, 2021, it was reported that the ceremony would be held from both the Rainbow Room in New York City and the Golden Globes' usual home at The Beverly Hilton in Beverly Hills, California, allowing those on the East Coast to participate without having to make the cross-country trip.


title: 78th Golden Globe Awards

text: The Cecil B. DeMille Award is an honorary award bestowed to honorees who have made a significant mark in the film industry. It is named after its first recipient, director Cecil B. DeMille.


title: 78th Golden Globe Awards

text: The Carol Burnett Award is an honorary award given for outstanding and lasting contributions to television on or off the screen. It is named in honor of its first recipient, actress Carol Burnett.


title: 78th Golden Globe Awards

text: The Golden Globe Ambassadors are Jackson Lee and Satchel Lee, the son and daughter of Spike Lee and Tonya Lewis Lee.


title: 78th Golden Globe Awards

text: According to the review aggregator website Metacritic, which sampled 15 critic reviews and calculated a weighted average score of 35 out of 100, the ceremony received "generally unfavorable reviews". On Rotten Tomatoes, 10% of 21 critics have given the ceremony a positive review, with an average rating of 3.52/10. The critics consensus on the website reads: "Disappointingly dull and disturbingly lacking in self-awareness, The 78th Golden Globes ceremony wastes its menagerie of celebrities—and some well-deserved wins—on a stilted ceremony overshadowed by HFPA's questionable behind-the-scenes behavior."


title: 78th Golden Globe Awards

text: The ceremony received criticism regarding certain nominations. James Corden's nomination for Best Actor – Motion Picture Musical or Comedy (for his performance in "The Prom") and the two nominations for "Emily in Paris" have faced controversy. The HFPA also drew criticism for the placement of "Minari" in the Best Foreign Language Film category, despite being an American film about a Korean-American family; it ultimately won. The determination that the film would be eligible for this category rather than Best Motion Picture – Drama, based on the Globes' rule that any film with over 50% of its dialogue not in English would be considered a Foreign Language Film, invited controversy. Lulu Wang, whose film "The Farewell" was subject to the same rule the previous year, wrote that "I have not seen a more American film than #Minari this year. It's a story about an immigrant family, IN America, pursuing the American dream. We really need to change these antiquated rules that characterize American as only English-speaking". Author Viet Thanh Nguyen wrote that the "decision speaks powerfully to the issue of what makes something — a language or a person or a culture — foreign". Many other filmmakers, actors, and authors, including Nia DaCosta, Daniel Dae Kim, Min Jin Lee, Franklin Leonard, Simu Liu, Phil Lord, Celeste Ng, Harry Shum Jr., and Phillipa Soo criticized the decision on similar grounds.


title: 78th Golden Globe Awards

text: The nominations for the film "Music" also faced criticism for the casting of Maddie Ziegler as an autistic person, and concerns over what impact the film could have on the perception and handling of autistic people, with co-host Tina Fey joking that "Twitter is saying it's the most offensive casting since Kate Hudson was the Weightwatchers spokesperson". Hosts Fey and Amy Poehler also acknowledged the recent revelation that the HFPA has not had a single Black member for over twenty years.


title: 78th Golden Globe Awards

text: The ceremony received 6.9 million viewers in the United States, with a 1.5 Nielsen rating among adults 18 to 49, representing a 68% drop in viewership from the previous year's ceremony. It is the least viewed Golden Globe Awards telecast since the 65th Golden Globe Awards in 2008, which was solely a press conference due to the 2007–08 Writers Guild of America strike.


Mixed-member proportional representation (MMP or MMPR) is a mixed electoral system in which votes cast are considered in local elections and also to determine overall party vote tallies, which are used to allocate additional members to produce or deepen overall Proportional representation.


title: Mixed-member proportional representation

text: In some MMP systems, voters get two votes: one to decide the representative for their single-seat constituency, and one for a political party. In Denmark and others, the single vote cast by the voter is used for both the local election (in a multi-member or single-seat district), and for the overall top-up.


text: Seats in the legislature are filled first by the successful constituency candidates, and second, by party candidates based on the percentage of nationwide or region-wide votes that each party received.


text: The constituency representatives are usually elected using first-past-the-post voting (FPTP) but the Scandinavian countries have a long history of using both multi-member districts (members elected through party-list PR) and nationally-based compensatory top-up seats.


text: The nationwide or regional party representatives are, in most jurisdictions, drawn from published party lists, similar to party-list proportional representation. To gain a nationwide representative, parties may be required to achieve a minimum number of constituency seats, a minimum percentage of the nationwide party vote, or both.


text: MMP differs from parallel voting in that the nationwide seats are allocated to political parties in a compensatory manner in order to achieve proportional election results. Under MMP, two parties that each receive 25% of the votes end up with about 25% of the seats, even if one party wins more constituency seats than the other. Depending on the exact system implemented in a country and the results of a particular election, the proportionality of an election may vary. Overhang seats may reduce the proportionality of the system, although this can be compensated for by allocating additional party list seats to cover any proportionality gap.


text: MMP was first used to elect representatives to the German Bundestag, and has been adopted by South Korea, New Zealand, and others. In Germany, where it is used on the federal level and in most states, MMP is known as "personalized proportional representation" ().


text: In the Canadian province of Quebec, where an MMP model was studied in 2007, it is called the "compensatory mixed-member" voting system ( or SMAC). In the United Kingdom the semi-proportional implementation of MMP used in Scotland, Wales, and the London Assembly is referred to as the additional member system,


text: MMP produces proportional election results by a number of compensatory seats, sometimes known as leveling seats.


text: Some countries use single vote variants of MMP. But this article focuses primarily on dual vote versions of MMP.


text: In MMP, the voter casts two votes: one for a constituency representative and one for a party. In the original variant used in Germany, citizens gave only one vote, so that voting for a representative automatically meant also voting for the representative's party, which is still used in some MMP elections today. Most of Germany changed to the two-vote variant to make local members of parliament (MPs) more personally accountable. Voters can thus vote for the local person they prefer for local MP without regard for party affiliation, since the partisan make-up of the legislature is determined only by the party vote. In the 2017 New Zealand election, 27.33% of voters split their vote (voted for a local candidate of a different party than their party vote) compared to 31.64% in 2014.


text: In each constituency, the representative is chosen using a single winner method, typically first-past-the-post (that is, the candidate with the most votes, by plurality, wins).


text: Most systems used closed party lists to elect the non-constituency MPs (also called list MPs). In most jurisdictions, candidates may stand for both a constituency and on a party list (referred to in New Zealand as "dual candidacy"). In Wales between 2006 and 2014 dual candidacy was banned, i.e. candidates were restricted to contend either for a constituency or for a party list, but not both. If a candidate is on the party list, but wins a constituency seat, they do not receive two seats; they are instead crossed off the party list and the party seat goes to the next candidate down.


text: In Bavaria, the second vote is not simply for the party but for one of the candidates on the party's regional list: Bavaria uses seven regions for this purpose. A regional open-list method was recommended for the United Kingdom by the Jenkins Commission (where it is known as AMS) and for Canada by the Law Commission of Canada; neither recommendation was ever implemented.


text: In contrast, the open-list method of MMP was chosen in November 2016 by voters in the 2016 Prince Edward Island electoral reform referendum.


text: In Baden-Württemberg, there are no lists; they use the "best near-winner" method in a four-region model, where the regional members are the local candidates of the under-represented party in that region who received the most votes in their local constituency without being elected in it (Zweitmandat, literally "second mandate").


text: At the regional or national level (i.e. above the constituency level) several different calculation methods have been used, but the basic characteristic of the MMP is that the total number of seats in the assembly, including the single-member seats and not only the party-list ones, are allocated to parties proportionally to the number of votes the party received in the party portion of the ballot. This can be done by the largest remainder method or either of two highest averages methods: the D'Hondt method or the Sainte-Laguë method. Subtracted from each party's allocation is the number of constituency seats that party won, so that the additional seats are compensatory (top-up).


text: If a party wins more FPTP seats than the proportional quota received by the party-list vote, these surplus seats are called overhang seats ( in German), which may be an obstacle to achieving full proportionality. To combat disproportionalities caused by overhang seats, in most German states, and federally since 2013, leveling seats ("Ausgleichsmandate" in German) are added to compensate for the overhang seats and thereby achieve complete proportionality.


text: When a party wins more constituency seats than it would be entitled to from its proportion of (party list) votes, most systems allow for these overhang seats to be kept by those candidates who earned it in the constituency elections. A counter-example would be the an MMP variant used in Romania in the 2008 and 2012 legislative elections, where constituency seats could only be earned by the winning candidate if they also achieved an absolute majority in their district, thereby eliminating overhang seats.


text: In Germany's "Bundestag" and the New Zealand House of Representatives, all members elected for constituencies keep their seats. For example, in the 2008 New Zealand general election the Māori Party won 2.4% of the party vote, which would entitle them to 3 seats in the House, but won 5 constituency seats, leaving an overhang of 2 seats, which resulted in a 122-member house. If the party vote for the Māori Party had been more in proportion with the constituency seats won, there would have been a normal 120-member house.


text: In most German states, and in the federal Bundestag since 2013, the other parties receive extra seats (leveling seats) to create full proportionality. For example, the provincial parliament ("Landtag") of North Rhine Westphalia has, instead of the usual 50% compensatory seats, only 29% unless more are needed to balance overhangs. If a party wins more local seats than its proportion of the total vote justifies, the size of the "Landtag" increases so that the total outcome is fully proportional to the votes, with other parties receiving additional list seats to achieve proportionality. The leveling seats are added to the normal number of seats for the duration of the electoral period. In the German state of Bavaria, the constituency vote and party vote are combined to determine the distribution of seats.


text: In one election in Scotland, the highest averages method resulted in a majority government for the Scottish National Party with only 44% of the party vote. However, Scotland uses the term Additional Member System, which does not use levelling seats like other MMP systems, and therefore is sometimes less than perfectly proportional. In Scotland and Wales, due to the nature of the calculations used to distribute the regional list seats, overhang seats are not possible. The list allocation for those parliaments works like a mixed-member majoritarian system, but in using the d'Hondt method's divisors to find the averages for the allocation, the first divisor for each party takes into account the number of constituency seats won by the party; i.e. a party that won 7 constituency seats would start with a divisor of 8 (7 seats + 1 per the method's divisor formula) instead of 1. The resulting table would then give 7 seats for Scotland and 4 seats for Wales to the parties possessing the highest averages on the table, although both devolved parliaments do not use a table, instead using a sequential method. The compensatory effect characteristic of MMP is in the fact that a party that won constituency seats would have lower averages on the table than it would if the election used MMM. Because of no provision for overhang seats, there have been cases where a party ended up with fewer total seats than its proportional entitlement. This occurred, for example, in the elections in the South East Wales electoral region in both 2007 (Welsh Conservatives under-represented) and in 2016 (Welsh Labour over-represented, Plaid Cymru under-represented). Labour has also been over-represented on this basis in every election in the South Wales West region, and every election in the South Wales Central region apart from the 2003 election. This situation arises because Labour has continued to hold the overwhelming majority of constituency seats in these regions, and only around one-third of the total number of seats are available for distribution as additional regional seats.


text: As in numerous proportional systems, in order to be eligible for list seats in many MMP models, a party must earn at least a certain percentage of the total party vote, or no candidates will be elected from the party list. Candidates having won a constituency will still have won their seat. In New Zealand the threshold is 5%, in Bolivia 3%, in Germany 5% for elections for federal parliament and most state parliaments. A party can also be eligible for list seats if it wins at least three constituency seats in Germany, or at least one in New Zealand. Having a member with a 'safe' constituency seat is therefore a tremendous asset to a minor party in New Zealand.


text: In elections for the Scottish Parliament and Welsh Assembly, there is no threshold set, because the district magnitude of each electoral region is small enough to impose an inherent threshold in the seat distribution calculations.


text: In March 2004, the Law Commission of Canada proposed a system of MMP, with only 33% of MPs elected from regional open lists, for the House of Commons of Canada but Parliament's consideration of the Report in 2004–5 was stopped after the 2006 election.


text: The New Democratic Party has been a longtime supporter of MMP. The Green Party of Canada has generally been a staunch supporter of a move to a proportional electoral system.


text: A proposal to adopt MMP with closed province-wide lists for elections to the Legislative Assembly of Prince Edward Island was defeated in a referendum in 2005.


text: In 2007, the Citizens' Assembly on Electoral Reform in Ontario, Canada, also recommended the use of MMP in future elections to the Legislative Assembly of Ontario, with a ballot similar to New Zealand's, and with the closed province-wide lists used in New Zealand but with only 30% compensatory members. A binding referendum on the proposal, held in conjunction with the provincial election on 10 October 2007, saw it defeated.


text: In June 2016, the Canadian House of Commons Special Committee on Electoral Reform was formed to examine potential changes to the voting system with MMP being one of the options examined. The committee presented its report to Parliament on 1 December of the same year. In early 2017, the Government announced that it would accept only some of the committee's recommendations, and would not pursue the issue of electoral reform any further.


text: In a non-binding plebiscite between 27 October and 7 November 2016, Prince Edward Islanders voted for MMP over FPTP in the final round of counting, 52%–43%; however, the provincial government, despite having set no voter turnout threshold, subsequently claimed that the 36 percent turnout was insufficient to change the electoral system. A second referendum, held simultaneously with the provincial election, saw MMP rejected by a margin of 48% in favor to 52% against, with 76% turnout.


text: During October–December 2018, British Columbia held a referendum on proportional representation, promised as part of the election platform of the British Columbia New Democratic Party who took office following the May 2017 provincial election. In the referendum citizens were presented with two questions. The first question asked them to choose whether they would like to keep first-past-the-post voting or change to proportional representation. The second question asked them to rank three types of proportional voting systems in order of preference; one of those was MMP. Citizens could still rank the voting systems even if they selected first-past-the-post voting in the first question. According to official results, voters chose FPTP over PR by 61.3% to 38.7% on the first question. While the first question was not successful for PR, the second question resulted in MMP winning over the two other systems on the ballot. If PR had been successful on the first question, MMP would have been adopted in time for the next provincial election and would have been subject to a second referendum after two election cycles.


text: Quebec's government, supported by two of the three opposition parties (PQ and Quebec Solidaire), has introduced a referendum on MMP that will be held in 2022.


text: Currently Costa Rica was debating the switch from the current closed party list proportional representation system to a mixed member proportional representation based on the German model. The bill presented by the Citizen Power Now movement and endorsed by the majority of parliamentary groups would create two types of deputies; 42 elected proportionally by lists presented by the political parties and would be called "national" deputies, while another 42 deputies would be elected directly by population-based electoral districts on a First pass the post basis. As the bill requires a constitutional reform it would require a two-thirds majority of votes, however as of 2019 the caucuses of the four main parties support the reform.


text: The pan-European party VOLT Europa proposes transnational mixed-member proportional representation with the combination of Majority Judgment and party-list PR.


text: In September 2015, Sri Lankan Foreign Minister Mangala Samaraweera announced that they will change the country's system to MMP.


text: In South Africa, MMP is generally referred to as a "mixed-system". The Mbeki administration's Van Zyl Slabbert Commission on Electoral Reform (January 2003) recommended that a multi-member system, which has been adopted for local/regional level elections, be expanded to national parliamentary (lower house) elections. It proposed that 300 of 400 members be elected from closed-constituency lists (from 69 national multi-member constituencies) and 100 members from closed, national-level party lists. Parliament's High Level Panel report of 2017, chaired by former president Kgalema Motlanthe, validated the Van Zyl Slabbert mixed-system and recommended its adoption, stating: "Such a system will serve to limit the power of individual party leaders and encourage MPs to vote in accordance with the needs and desires of their constituencies rather than only following party lines". Although a constitutional amendment is not required, and a simple majority in parliament can amend the Electoral Act (No. 73 of 1998) it seems unlikely that such an amendment will come before parliament before the 2019 General Elections. A former MP, Dr Michael Louis, who wishes to stand as an independent, is actively pursuing a judicial route to force an amendment. The Independent Electoral Commission (IEC) has stated that it is not opposed to an amendment but there is simply not enough time to implement it in time for the 2019 elections.


text: After the Constitutional Court of South Africa declared the Electoral Act unconstitutional in 2020 because there was no way for independent candidates to be elected and in 2021, Home Affairs Minister Aaron Motsoaledi told Parliament that a new electoral system must be put in place, calls for MMP intensified and a Motsoaledi-appointed, Valli Moosa-led ministerial advisory committee was formed to determine the new system.


text: In other cases, a party may be so certain of winning a large number of constituency seats that it expects no extra seats in the proportional top-up (list seats). Some voters may therefore seek to achieve double representation by voting tactically for another party in the regional vote, as a vote for their preferred party in the regional vote would be wasted. This tactic is much less effective in MMP models with a relatively large share of list seats (50% in most German states, and 40% in the New Zealand House of Representatives) and/or ones which add "balancing seats", leading to fewer opportunities for overhangs and maintaining full proportionality, even when a party wins too many constituency seats.


text: The problem of ticket splitting strategies can be solved either by eliminating at least one of the two mechanism that create the opportunity for abuse: Either the double vote can be abolished, returning to a mixed single vote (the original version of MMP used in Germany), in which case voters cannot split their ticket, even if it is a sincere preference. Another solution is to eliminate the seat linkage mechanism and use a vote linkage one instead, in which case most likely more compensatory seats would be needed. A negative vote transfer based system (scorporo) retains the flaw that decoy lists can be used to abuse it, but if the two votes were tied in a mixed ballot transferable vote, the potential this kind of strategic manipulation would be eliminated. However, in this a case party proportionality is not likely and overall equality of votes would depend largely on the specifics of the system (the amount of compensation).


text: This sort of strategy for a coalition of parties to capture a larger share of list seats may be adopted formally as a strategy. By way of example, in Albania's 2005 parliamentary election, the two main parties did not expect to win any list seats, so they encouraged voters to use their list votes for allied minor parties. This tactic distorted the working of the model to the point that the parties that won list seats were almost always different from the parties that won constituency seats. Only one constituency member was elected from parties that won list seats. The election was condemned by the Organization for Security and Co-operation in Europe which said it failed to comply with international standards because of "serious irregularities", intimidation, vote-buying and "violence committed by extremists on both sides." Rather than increasing the number of list seats or "overhang" seats, Albania subsequently decided to change to a pure-list system.


text: In an abusive gambit similar to that used in Albania, major parties feeling that they are unlikely to win a large number of list seats because of their advantage at the constituency level might choose to split their party in two, with one subdivision of the party contesting the constituency seats, while the other contests the list seats—assuming this is allowed by electoral law. The two linked parties could then co-ordinate their campaign and work together within the legislature, while remaining legally separate entities. The result of this approach, if it is used by all parties, would be to transform MMP into a "de facto" parallel voting mechanism.


text: An example of how this could happen manifested itself in the 2007 Lesotho general election. In this case the two leading parties, the Lesotho Congress for Democracy (LCD) and the All Basotho Convention (ABC) used decoy lists, respectively named the National Independent Party and the Lesotho Workers' Party to avoid the compensatory mechanisms of MMP. As a result, the LCD and its decoy were able to take 69.1% of the seats with only 51.8% of the vote. ABC leader Tom Thabane called the vote "free, but not fair." In the 2012 election, the voting system was adjusted to link the local and list seats to limit the decoy lists' effectiveness, resulting in an almost perfectly proportionate election result for the competing parties.


text: Another interesting case is that of Venezuela, which also ended up changing its system, in this case by formally adopting a parallel voting system and legitimizing party efforts to game the MMP approach. Venezuela introduced an MMP electoral system in 1993, but the tactic of creating a decoy party was introduced only in 2000, by the opposition governor of Yaracuy. The tactic was later adopted by pro-Chavez parties at the national level in 2005. After the decoy list tactic withstood a constitutional challenge, Venezuela eventually formally reverted to a parallel voting system, which yields a lesser degree of proportionality compared to MMP. On September 26, 2010, Chavez' party, the United Socialist Party of Venezuela, took 57.4% of parliamentary seats with only 48.2% of the vote under the new system (ignoring the role of small allied parties). One can see to what extent parallel voting had nonetheless helped to redress the balance toward proportionality somewhat by noting that Chavez' party would have taken an even larger share of assembly seats under a strict single-winner approach (71 constituency seats out of 109, or 65%).


text: Another example is that of the 2001 Italian general election, in which one of the two main coalitions (the House of Freedoms), which opposed the scorporo system (a system compensatory system similar to MMP), linked many of their constituency candidates to a decoy list () in the proportional parts, under the name . As a defensive move, the other coalition, Olive Tree, felt obliged to do the same, under the name . This meant that the constituency seats won by each coalition would not reduce the number of list seats available to them. In the case the House of Freedoms list faction Forza Italia, the tactic was so successful that it did not have enough candidates in the proportional part to receive as many seats as it in fact won, missing out on 12 seats. Italy subsequently changed its system.


text: Ahead of the 2020 South Korean legislative election, the electoral system was changed from parallel voting to a hybrid mixed-member proportional system, with 30 seats allocated in a compensatory manner. The opposition Liberty Korea Party subsequently set up a decoy list, the Future Korea Party, to win extra proportional seats. The ruling Democratic Party of Korea condemned them for exploiting the electoral law, but nonetheless set up its own decoy list, the Platform Party, in response. The decoy lists were successful on election day, with Future Korea winning 12 compensatory seats and Platform winning 11. After the election, both decoy lists merged into their mother parties.


text: In systems with a threshold, people who prefer a larger party may tactically vote for a minor party that is predicted to poll close to or slightly below the threshold. Some voters may be afraid the minor party will poll below the threshold, and that that would weaken the larger political camp to which the minor party belongs. For example, the German moderate-right Free Democratic Party (FDP) has often received votes from voters who preferred the larger Christian Democratic Union (CDU) party, because they feared that if the FDP received less than 5% of the votes, the CDU would have no parliamentary allies and would be unable to form a government on its own. This tactical voting also ensures that fewer votes are wasted, but at the cost of giving the FDP more seats than CDU voters would ideally have preferred. This tactic is the same in any method of proportional representation with a threshold.


text: Similarly, in New Zealand, some voters who preferred a large party have voted for the minor party's local candidate to ensure it qualifies for list seats on the back of winning a single electorate. This notably occurred in the right-wing inner Auckland electorate of Epsom in 2008 and 2011, where the National Party voters gave their local vote to the ACT Party. In this case the tactic maintained some proportionality by bypassing the 5% threshold, but is largely disfavoured by the public due to it awarding smaller parties extra list seats while parties with a higher party vote percentage that do not win an electorate receive no seats; this occurred in 2008 when ACT was awarded 5 seats on the back of one electorate seat and 3.7% of the party vote, while New Zealand First with no electorate seats and 4.1% of the party vote were awarded none. In 2011, some Epsom voters voting for the left-wing Labour and Green parties tried to block the tactic by giving their local vote to the National candidate; while it was unsuccessful, it did reduce ACT's majority over National from 12,900 to 2,300. In August 2012, the initial report on a review of the MMP system by the Electoral Commission recommended abolishing the one electorate seat threshold, meaning a party winning an electorate seat but not crossing the 5% threshold (which the same report recommends lowering to 4%) is only awarded that electorate seat.


title: 1932 Summer Olympics

text: The 1932 Summer Olympics (officially the Games of the X Olympiad and also known as Los Angeles 1932) were an international multi-sport event held from July 30 to August 14, 1932 in Los Angeles, California, United States. The Games were held during the worldwide Great Depression, with some nations not traveling to Los Angeles; 37 nations competed, compared to the 46 in the 1928 Games in Amsterdam, and then-U.S. President Herbert Hoover did not attend the Games. The organizing committee did not report the financial details of the Games, although contemporary newspapers claimed that the Games had made a profit of US$1,000,000.


title: 1932 Summer Olympics

text: The selection of the host city for the 1932 Summer Olympics was made at the 23rd IOC Session in Rome, Italy, on 9 April 1923. Remarkably, the selection process consisted of a single bid, from Los Angeles, and as there were no bids from any other city, Los Angeles was selected by default to host the 1932 Games.


title: 1932 Summer Olympics

text: 117 events in 20 disciplines, comprising 14 sports, were part of the Olympic program in 1932. In one of two Equestrian jumping events (team competitions) no medals were awarded. The number of events in each discipline is noted in parentheses.


title: 1932 Summer Olympics

text: The Art competitions at the 1932 Summer Olympics awarded medals for works inspired by sport-related themes in five categories: architecture, literature, music, painting, and sculpture.


title: 1932 Summer Olympics

text: Fifteen sports venues were used for the 1932 Summer Olympics. In order to control costs in the wake of the Great Depression, existing venues were used. They included two golf courses, two city parks, three public highways, and a city road. The Swimming Stadium was the only new venue constructed for these games. The Rose Bowl, constructed in 1921, was made into a temporary velodrome for track cycling events under the auspices of the Union Cycliste Internationale (UCI). The Los Angeles Memorial Coliseum, constructed in 1923, was used as the Olympic Stadium. The Olympic Auditorium was constructed in 1924 in preparation for Los Angeles being awarded the Games; it was modified to meet the specifications of the boxing, weightlifting, and wrestling federations. Long Beach Marine Stadium was created in 1925 when Alamitos Bay was dredged, then further dredged seven years later in time for the 1932 Games. Elysian Park, the oldest city park in Los Angeles, was founded in 1886, and has been part of the Los Angeles Police Department (LAPD) training academy since 1925. The Riviera Country Club opened in 1926 as the Los Angeles Athletic Club Golf Course and was renamed Riviera by the time of the 1932 Games. The swimming stadium, constructed adjacent to the Coliseum in 1932, was intended to be a temporary structure. Riverside Drive, Los Angeles Avenue, Vineyard Avenue, and the Pacific Coast Highway were common driving routes in California at the time of the 1932 Games.


title: 1932 Summer Olympics

text: The Coliseum was the first home for the Dodgers Major League Baseball (MLB) team when it moved from Brooklyn, New York in the 1958 season. The following year, it hosted the MLB All-Star Game and the World Series. Once Dodger Stadium was completed in 1962, the Dodgers moved there where they have been since. The Los Angeles Rams National Football League (NFL) team used the Coliseum as its host stadium from 1946 to 1980 when it moved to Anaheim, located southeast of Los Angeles. It also hosted what became known as Super Bowl I in 1967. Even the American Football League's Chargers used the Coliseum as a venue in 1960 until their move to San Diego the following year. The Coliseum continues to host USC Trojans football games to this day, and also hosted UCLA Bruins football for a number of years. The Rams returned to the Coliseum for a span of four years from 2016 to 2019.


title: 1932 Summer Olympics

text: The track constructed in the Rose Bowl was given to the Tournament of Roses Association upon completion of the 1932 Games. The Bowl was expanded between 1932 and the 1984 Summer Olympics three times, increasing its capacity from 83,000 in 1931 to 104,594 in 1972. It hosted Super Bowl XI in 1977, where the Oakland Raiders defeated the Minnesota Vikings 32–14. It is the current home of UCLA Bruins football and the Rose Bowl Game, and was the home of the L.A. Galaxy soccer team for a number of years.


title: 1932 Summer Olympics

text: Elysian Park's shooting range was left intact for the LAPD to use. Sunset Fields Golf Club was renamed Brentwood Country Club in 1941 and is still in use as of 2010. All of the road courses were returned to public usage after the Olympics. The Olympic Auditorium continued to be of use for boxing and roller derby events until June 2005 when it was bought to be used as a megachurch. Los Angeles Harbor continues to be a major sea port in the Western United States, employing 919,000 people and generating US$39.1 billion in annual wages and tax revenues as of 2007. The Riveria Country Club continues to host golf events, hosting the 1948 U.S. Open and the PGA Championship in 1983 and 1995. The Swim Stadium was renovated in 2003 and continues to be in use as of 2010.


title: 1932 Summer Olympics

text: A total of 37 nations were represented at the 1932 Games. Colombia made its first appearance at the Olympic Games, and the Republic of China competed for the first time after its failed appearance at the 1924 Games.


title: Colt Walker

text: The Colt Walker, sometimes known as the Walker Colt, is a single-action revolver with a revolving cylinder holding six charges of black powder behind six bullets (typically .44 caliber lead balls). It was designed in 1846 by American firearms inventor Samuel Colt to the specifications of Captain Samuel Hamilton Walker.


title: Colt Walker

text: The Colt Walker was created in the mid-1840s in a collaboration between Texas Ranger Captain Samuel Hamilton Walker (1817–1847) and American firearms inventor Samuel Colt (1814–1862), building upon the earlier Colt Paterson design. Walker wanted a handgun that was extremely powerful at close range.


title: Colt Walker

text: Samuel Walker carried two of his namesake revolvers in the Mexican–American War. He was killed in battle the same year his famous handgun was invented, 1847, shortly after he had received them. Only 1,100 of these guns were originally made, 1,000 as part of a military contract and an additional 100 for the civilian market, making original Colt Walker revolvers extremely rare and expensive to acquire. On October 9, 2008, one specimen that had been handed down from a Mexican War veteran was sold at auction for US$920,000. As reported in "America's 1st Freedom" magazine in July 2018, a Model 1847 Colt Walker pistol – the only known surviving example complete with its original case – was sold by Rock Island Auction for a record price of $1.84 million. This makes this the most expensive single firearm ever sold at auction.


title: Colt Walker

text: The Republic of Texas had been the major purchaser of the early Paterson Holster Pistol (No. 5 model), a five shot cal .36 revolver, and Samuel Walker became familiar with it during his service as a Texas Ranger. In 1847, Walker was engaged in the Mexican–American War as a captain in the United States Mounted Rifles. He approached Colt, requesting a large revolver to replace the single-shot Model 1842 Percussion Pistols then in use. The desired .44–.45 caliber revolver would be carried in saddle mounted holsters. The Colt Walker was used in the Mexican–American War and on the Texas frontier.


title: Colt Walker

text: Medical officer John "Rip" Ford took a special interest in the Walkers when they arrived at Veracruz. He obtained two examples for himself and is the primary source for information about their performance during the war and afterward. His observation that the revolver would carry as far and strike with the same or greater force than the .54 caliber Mississippi Rifle seems to have been based on a single observation of a Mexican soldier hit at a distance of well over one hundred yards. The Walker, unlike most succeeding martial pistols and revolvers, was a practical weapon out to about .


title: Colt Walker

text: The Colt Walker holds a powder charge of in each chamber, more than twice what a typical black powder revolver holds. It weighs unloaded, has a barrel, and fires a .44 caliber ( diameter) conical and round ball. The initial contract called for 1,000 of the revolvers and accoutrements. Colt commissioned Eli Whitney to fill the contract and produced an extra 100 revolvers for private sales and promotional gifts. Notable recipients include John Coffee Hays.


title: Colt Walker

text: Colt commissioned New York engraver Waterman Ormsby to etch a scene on the cylinder that was based on Walker's description of the 1844 battle.


title: Colt Walker

text: In addition to its large size and weight, problems with the Walker included ruptured cylinders after firing. This has been attributed to primitive metallurgy, soldiers allowing powder to spill across the mouths of the chambers, and even loading the original conical bullets backwards into the chambers. Under 300 of the original 1,000 were returned for repair due to a ruptured cylinder. Lard was loaded into the mouths of the cylinders on top of each bullet after loading to prevent the spark from igniting all chambers at once, a practice which continues to this day among black-powder revolver shooters, and although each chamber held 60 grains of powder, Colt recommended no more than 50 grains in each.


title: Colt Walker

text: The Walker had an inadequate loading lever catch that often allowed the loading lever to drop during recoil, preventing fast follow-up shots. Period-correct fixes for this often included placing a rawhide loop around both the barrel and loading lever, to prevent the loading lever from dropping under recoil and locking the action.


title: Colt Walker

text: The Whitneyville-Hartford Dragoon is known as the first transitional model from the Walker to the Dragoon series, as it was largely built from leftover Walker parts. Subsequent contracts beginning in 1848 followed, for what is today known among collectors as the First, Second and Third Dragoon Models that were all based on the Colt Walker, enabling a rapid evolution of the basic revolver design. These improvements included shorter barrels, shorter chambers, typically loaded only to 50 grains instead of 60 grains, thereby reducing the occurrence of ruptured cylinders, and the addition of an improved catch at the end of the loading lever to prevent the dropping of the loading lever under recoil.


title: Colt Walker

text: The Colt Walker was quite powerful, with modern replicas firing modern FFFg black powder producing energy levels in excess of muzzle-energy with both picket bullets and , round ball bullets. The black powder Colt Walker is regarded as the most powerful commercially manufactured repeating handgun from 1847 until the introduction of the .357 Magnum in 1935, having a muzzle energy nearly exactly the same as a handgun firing a .357 Magnum. Taking into account its muzzle velocity and energy produced, it currently still holds the record for the most powerful handgun ever issued by the US military. The Colt Walker has long maintained a unique position and mystique among handgun users, and its name is often used as a common expression of any overly large generic handgun example.


title: Colt Walker

text: Modern replicas chambered in the .45 Black Powder Magnum wildcat cartridge have been offered by the Colt Blackpowder shop, Cimarron Firearms, Armi San Marco, and Uberti Firearms.


title: Colt Walker

text: On May 23, 2021, Texas Governor Greg Abbott signed a resolution naming the 1847 Colt Walker pistol the official handgun of Texas.


title: Marcus Peters

text: Marcus Peters (born January 9, 1993) is an American football cornerback for the Baltimore Ravens of the National Football League (NFL). He was drafted by the Kansas City Chiefs in the first round of the 2015 NFL Draft and was also a member of the Los Angeles Rams. He played college football at Washington.


title: Marcus Peters

text: Peters attended and graduated from McClymonds High School in Oakland, California, where he played football and ran track. He played as a cornerback for coach Curtis McCauley. As a senior, he notched seven interceptions and scored six touchdowns on kick or punt returns. He also played wide receiver and kicker. He was named the MVP of the Oakland Athletic League, as he led the Warriors to a 12–0 record, the school's first perfect season.


title: Marcus Peters

text: In track & field, Peters competed as a sprinter. and as a senior he won the 100 meters (10.87 s) and 200 meters (22.91 s) events at the Oakland Athletic League Championships.


title: Marcus Peters

text: Peters was a three-star recruit by Rivals.com and the 30th best cornerback in his class. He committed to play college football at the University of Washington in January 2011.


title: Marcus Peters

text: Peters was redshirted as a freshman in 2011. As a redshirt freshman in 2012, Peters started eight of 13 games, recording 44 tackles, three interceptions and a touchdown. As a sophomore in 2013, he started 12 of 13 games and had five interceptions, 55 tackles and one sack. As a junior in 2014, Peters was suspended one game for a "sideline tantrum". He was later dismissed from the team in November for disciplinary issues.


title: Marcus Peters

text: On December 16, 2014, Peters announced his decision to forgo his remaining eligibility and enter the 2015 NFL Draft. Peters attended the NFL Scouting Combine and completed all of the combine and positional drills. On April 2, 2015, Peters participated at Washington’s Pro Day, but opted to stand on his combine numbers and only performed positional drills. Peters attended pre-draft visits with multiple teams, including the Kansas City Chiefs, New York Jets, New Orleans Saints, San Francisco 49ers, Oakland Raiders, Pittsburgh Steelers, Baltimore Ravens, and Houston Texans. He also attended a private workout with the Atlanta Falcons. At the conclusion of the pre-draft process, Peters was projected to be a first or second round pick by NFL draft experts and scouts. He was ranked as the second best cornerback in the draft by "Sports Illustrated", was ranked the third best cornerback by NFL analysts Mike Mayock and Charles Davis, and was ranked the fourth best cornerback prospect by DraftScout.com.


title: Marcus Peters

text: The Kansas City Chiefs selected Peters in the first round (18th overall) of the 2015 NFL Draft. Peters was the third cornerback drafted in 2015 and also became the highest defensive back drafted from Washington since Dana Hall (18th overall) in 1992.


title: Marcus Peters

text: On May 15, 2015, the Kansas City Chiefs signed Peters to a fully guaranteed four-year, $9.58 million contract that includes a signing bonus of $5.23 million.


title: Marcus Peters

text: Throughout training camp, Peters competed against Phillip Gaines to be a starting cornerback. Head coach Andy Reid named Peters the No. 1 cornerback to begin the regular season after Sean Smith received a three-game suspension.


title: Marcus Peters

text: Peters made his NFL debut and first career start in the season-opener at the Houston Texans and recorded seven combined tackles, three pass deflections, and made his first NFL interception during their 27–20 victory. He would record his first career reception on his first career snap. The following week, Peters recorded five solo tackles, made a season-high four pass deflections, and returned an interception for his first NFL touchdown during a 31–24 loss against the Denver Broncos in Week 2. Peters intercepted a pass attempt by quarterback Peyton Manning, that was intended for wide receiver Demaryius Thomas, and returned it for a 55-yard touchdown in the second quarter. In Week 5, he collected a season-high seven solo tackles and deflected one pass as the Chiefs lost 18–17 to the Chicago Bears. On December 20, 2015, Peters made three combined tackles, tied his season-high of four pass deflections, made two interceptions, and returned one for a touchdown in a 34–14 win at the Baltimore Ravens in Week 15. Peters intercepted a pass thrown by Ravens’ quarterback Jimmy Clausen, that was intended for tight end Daniel Brown, and returned it for a 90-yard touchdown in the fourth quarter. On December 22, 2015, it was announced that Peters was one of three rookies voted to play in the 2016 Pro Bowl.


title: Marcus Peters

text: Peters started in all 16 games during his rookie season in 2015 and recorded 60 combined tackles (53 solo), 26 pass deflections, eight interceptions, two touchdowns, and a forced fumble. He set career-highs in tackles, pass deflections, and interceptions. His eight interceptions tied Bengals free safety Reggie Nelson for the most interceptions in 2015.


title: Marcus Peters

text: Peters received multiple honors as a rookie in 2015, including second-team All-Pro, Associated Press Defensive Rookie of the Year, and was a finalist for the Pepsi Rookie of the Year award. Peters was the fourth Chiefs’ player to win defensive rookie of the year joining Dale Carter, Bill Maas, and Pro Football Hall of Famer Derrick Thomas. He was ranked 65th by his fellow players on the NFL Top 100 Players of 2016.


title: Marcus Peters

text: The Chiefs finished second in the AFC West with an 11–5 record and earned a wildcard berth. On January 9, 2016, Peters started in his first NFL playoff game and made four combined tackles, a pass deflection, and intercepted a pass by Brian Hoyer as the Chiefs defeated the Houston Texans 30–0 during the AFC Wildcard Game. The following week, Peters recorded five combined tackles and deflected two passes during a 27–20 loss at the New England Patriots in the AFC Divisional Round.