text:
Security of person
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Security of the person is a basic entitlement guaranteed by the Universal Declaration of Human Rights, adopted by the United Nations in 1948. It is also a human right explicitly mentioned and protected by the Constitution of Canada, the Constitution of South Africa and other laws around the world.
In general, the right to the security of one's person is associated with liberty and includes the right, if one is imprisoned unlawfully, to a remedy such as habeas corpus.[1] Security of person can also be seen as an expansion of rights based on prohibitions of torture and cruel and unusual punishment. Rights to security of person can guard against less lethal conduct, and can be used in regard to prisoners' rights.[2]
Contents
[hide]
1 United Nations
2 Canada
3 South Africa
4 Turkey
5 New Zealand
6 United Kingdom
7 References
United Nations[edit]
The right to security of the person is guaranteed by Article 3 of the Universal Declaration of Human Rights. In this article, it is combined with the right to life and liberty. In full, the article reads, "Everyone has the right to life, liberty and security of person."
The United Nations treaty, the International Covenant on Civil and Political Rights (1966), also recognizes a right to security of person. Article 9 states that "Everyone has the right to liberty and security of person," and the section prohibits "arbitrary arrest or detention." The section continues, "No one shall be deprived of his liberty except on such grounds and in accordance with such procedure as are established by law."
Canada[edit]
The right to security of the person was recognized in Canada in the Canadian Bill of Rights in 1960. Section 1(a) of this law recognized "the right of the individual to life, liberty, security of the person and enjoyment of property, and the right not to be deprived thereof except by due process of law." However, the Bill of Rights was a statute and not part of the Constitution.
In 1982, a right to security of the person was added to the Constitution. It was included in section 7 of the Canadian Charter of Rights and Freedoms, which stipulates that "Everyone has the right to life, liberty and security of the person and the right not to be deprived thereof except in accordance with the principles of fundamental justice." Security of the person in section 7 consists of rights to privacy of the body and its health[3] and of the right protecting the "psychological integrity" of an individual. That is, the right protects against significant government-inflicted harm (stress) to the mental state of the individual. (Blencoe v. B.C. (Human Rights Commission), 2000)
This right has generated significant case law, as abortion in Canada was legalized in R. v. Morgentaler (1988) after the Supreme Court found the Therapeutic Abortion Committees breached women's security of person by threatening their health. Some judges also felt control of the body was a right within security of the person, breached by the abortion law. In Operation Dismantle v. The Queen (1985) cruise missile testing was unsuccessfully challenged as violating security of the person for risking nuclear war. In Chaoulli v. Quebec (Attorney General) (2005), some Supreme Court justices even considered Quebec's ban on private health care to breach security of the person, since delays in medical treatment could have physical and stressful consequences.
There has been discussion within the Supreme Court and among academics as to whether security of the person also guarantees some economic rights. Theoretically, security of the person would be breached if the government limits a person's ability to make an income, by denying welfare, taking away property essential to one's profession, or denying licenses. However, section 7 is primarily concerned with legal rights, so this reading of economic rights is questionable. Many economic issues could also be political questions.[4]
South Africa[edit]
In 1996 the government of South Africa adopted a constitutional Bill of Rights which recognized a right to security of the person in section 12. Here, it was combined with a "right to freedom." Section 12 went on to define security of the person and the right to freedom more thoroughly, including within it bodily control and reproductive control, freedom from torture and cruel and unusual punishment and a right to trial. In full, section 12 reads,
12. (1) Everyone has the right to freedom and security of the person, which includes the right
(a) not to be deprived of freedom arbitrarily or without just cause;
(b) not to be detained without trial;
(c) to be free from all forms of violence from either public or private sources;
(d) not to be tortured in any way; and
(e) not to be treated or punished in a cruel, inhuman or degrading way.
(2) Everyone has the right to bodily and psychological integrity, which includes the right
(a) to make decisions concerning reproduction;
(b) to security in and control over their body; and
(c) not to be subjected to medical or scientific experiments without their informed consent.
Turkey[edit]
The Constitution of Turkey guarantees security of person, along with the right to liberty, in Article 19, enacted in 1982 and amended in 2001. The article spells out limits to these rights in the form of rulings of courts under the law, allowing for mental institutions and institutions for addicts, extradition, etc. The article also limits arrest and detention to cases in which a judge allows it, where there is not enough time for this, or the person is seen being responsible for a crime. A person will then be told why they have been arrested, and their next of kin will also be told of the arrest. Finally, the article allows for government compensation if these rights are violated.
New Zealand[edit]
The New Zealand Bill of Rights Act, adopted in 1990, guarantees "Life and security of the person" in sections 8 through 11. Section 8 guarantees a right to life except when deprived in accordance with fundamental justice, while section 9 prohibits cruel and unusual punishment. Section 10 prohibits a person being subjected to medical treatment against his or her will. Finally, section 11 gives a New Zealander the right to not take medical treatment.
United Kingdom[edit]
Security of person is mentioned in Schedule I Article 5 of the Human Rights Act 1998.[5] This version is the latest incarnation of the Act, though there have been minor edits since.[6] This new act represents one aspect of Tony Blair's "Constitutional Reform".
References[edit]
Jump up ^ Rhona K.M. Smith, Textbook on International Human Rights, second edition, Oxford University Press, 2005, p. 240.
Jump up ^ Smith, p. 245.
Jump up ^ Hogg, Peter W. Constitutional Law of Canada. 2003 Student Ed. Scarborough, Ontario: Thomson Canada Limited, 2003, 981.
Jump up ^ Hogg, 983.
Jump up ^ http://www.opsi.gov.uk/ACTS/acts1998/ukpga_19980042_en_3#sch1
Jump up ^ http://www.statutelaw.gov.uk/SearchResults.aspx?TYPE=QS&Title=human+rights+act&Year=&Number=&LegType=All+Legislation
[hide]
v
t
e
Substantive human rights
Note: What is considered a human right is controversial and not all the topics listed are universally accepted as human rights.
Civil and political
Cannabis rights
Equality before the law
Freedom from arbitrary arrest and detention
Freedom of assembly
Freedom of association
Freedom from cruel and unusual punishment
Freedom from discrimination
Freedom from exile
Freedom of information
Freedom of movement
Freedom of religion
Freedom from slavery
Freedom of speech
Freedom of thought
Freedom from torture
Legal aid
Liberty
LGBT rights
Nationality
Personhood
Presumption of innocence
Right of asylum
Right to die
Right to a fair trial
Right to family life
Right to keep and bear arms
Right to life
Right to petition
Right to privacy
Right to protest
Right to refuse medical treatment
Right of self-defense
Security of person
Universal suffrage
Economic, social
and cultural
Digital rights
Equal pay for equal work
Fair remuneration
Labor rights
Right to an adequate standard of living
Right to clothing
Right to development
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Right to Internet access
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Right to public participation
Right of reply
Right of return
Right to science and culture
Right to social security
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Right to work
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reproductive
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Family planning
Freedom from involuntary female genital mutilation
Intersex human rights
LGBT rights
Reproductive health
Right to sexuality
Violations
Corporal punishment
War and conflict
Civilian
Combatant
Freedom from genocide
Prisoner of war
War rape
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Freddy vs. Jason
From Wikipedia, the free encyclopedia
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This article may be written from a fan's point of view, rather than a neutral point of view. Please clean it up to conform to a higher standard of quality, and to make it neutral in tone. (February 2017) (Learn how and when to remove this template message)
Freddy vs. Jason
Theatrical release poster
Directed by
Ronny Yu
Produced by
Sean S. Cunningham
Written by
Damian Shannon
Mark Swift
Based on
Characters
by Wes Craven
and Victor Miller
Starring
Monica Keena
Kelly Rowland
Jason Ritter
Chris Marquette
Lochlyn Munro
Robert Englund
Music by
Graeme Revell
Cinematography
Fred Murphy
Edited by
Mark Stevens
Production
company
New Line Cinema
Crystal Lake Entertainment
Distributed by
New Line Cinema
Release date
August 15, 2003 (2003-08-15)
Running time
97 minutes
Country
United States
Language
English
Budget
$30 million[1]
Box office
$114.9 million[1]
Freddy vs. Jason is a 2003 American slasher film directed by Ronny Yu and written by Damian Shannon and Mark Swift. The film is a crossover between A Nightmare on Elm Street and Friday the 13th series, and pits Freddy Krueger and Jason Voorhees against each other in the eighth and eleventh installments in their respective series. The film is also the last in both A Nightmare on Elm Street and Friday the 13th series before they were both rebooted.
In the film, Freddy (Robert Englund) has grown incapable of haunting people's dreams as the citizens of Springwood, Ohio, have mostly forgotten about him following his death and subsequent imprisonment in Hell for his sins. To regain his power and freedom, Freddy resurrects Jason (Ken Kirzinger) and manipulates him into traveling to Springwood to cause panic and fear, leading to rumors that Freddy has returned. However, while Jason succeeds in causing enough fear for Freddy to haunt the town again, Jason angers Freddy by depriving him of potential victims. This ultimately sends the two undead monsters into a violent conflict.
Freddy vs. Jason was released in the United States on August 15, 2003. It grossed $114 million, making it the highest-grossing film in the Friday the 13th series and the second-highest-grossing film in A Nightmare on Elm Street series. This film marked Englund's final appearance to date as Freddy Krueger.
Contents
[hide]
1 Plot
2 Cast
3 Production
3.1 Development
4 Music
5 Distribution
5.1 Novelization
5.2 Home media
6 Reception
6.1 Critical response
6.2 Accolades
7 See also
8 References
9 External links
Plot[edit]
Freddy Krueger is rendered powerless in Hell because the people of Springwood manage to make the youth forget about him. Disguised as Pamela Voorhees, Freddy manipulates Jason into coming back to life and start killing Springwood teenagers to regain strength. In Springwood, Lori Campbell lives with her widowed father and has her friends Kia, Gibb, Trey, and Blake staying over. That night, Jason kills Trey, and the police suspect Freddy, fearing his return. Following a nightmare where Freddy tries to kill Blake but fails because of not being powerful enough, Blake awakens to find his father beheaded before Jason kills him too. The next day, police claim it to be a murder-suicide, hoping to contain Freddy.
Lori's ex-boyfriend Will Rollins and friend Mark Davis are patients at Westin Hills Psychiatric Hospital. They take Hypnocil to suppress their dreams because they previously had contact with Freddy. A news report about the murders motivate Mark and Will to escape and return to Springwood in order to warn Lori about Freddy. That night, Lori and the others attend a rave on a cornfield. Freddy tries to kill Gibb in a nightmare, but Jason kills her in the real world along with several other attendees, which causes Freddy to realize that Jason's rampage will deny him victims.
Linderman and Freeburg escape the rave along with Will, Lori, and Kia. Later, Will explains to Lori that the reason he was sent to Westin Hills was because he saw her father murder her mother, before going to Mark's house. However, they discover Freddy killing Mark and leading a message on his body that he has returned. Deputy Stubbs approaches Lori and her friends, who realize Freddy's plan and convince him of the truth. Learning of Hypnocil, they attempt to steal it from Westin Hills and see many teenagers in a coma-like-state due to prolonged Hypnocil use, but Freddy possesses Freeburg who disposes of the medicine. Having followed them, Jason electrocutes Stubbs to death but is tranquilized by a possessed Freeburg, who Jason kills before falling asleep.
Taking Jason's body with them, the teens devise a plan to pull Freddy from the dream world into reality and force him to fight Jason. They take the unconscious Jason to the now abandoned Camp Crystal Lake. Meanwhile, Freddy battles Jason in the dream world, where Freddy has the advantage with his dream powers, and learns that Jason is afraid of water (though this is contradictory to previous Friday the 13th films) and uses this fear to render Jason powerless. Meanwhile, Lori goes to sleep and tries to save Jason. Freddy attacks her and reveals himself as her mother's killer, having possessed her father to do it.
Jason awakens at Camp Crystal Lake and chases the teens into a cabin. Linderman is killed after trying to fight Jason and the cabin ignites. Lori is awakened and manages to pull Freddy into the real world where he is confronted by Jason. As two begin to fight, the remaining teens escape the cabin.
Managing to escape Jason, Freddy goes after the teens but is distracted by Kia until Jason suddenly kills her. Freddy uses his speed and intellect, while Jason uses his strength and pain tolerance as they resume their battle. On a dock, Jason tears Freddy's clawed arm off after Freddy stabs Jason's eyes. Lori and Will attempt to kill the two by pouring gasoline on the dock and setting it ablaze, which causes the propane tanks to explode. The blast sends the Jason and Freddy into the lake. Freddy climbs out and attempts to kill Lori and Will, but is impaled by Jason with his own clawed arm. Lori decapitates Freddy, avenging the deaths of her friends and her mother, as he falls back into the lake and sinks to the bottom. Lori and Will leave Camp Crystal Lake as the last two survivors.
The next day, Jason emerges from the water, holding his machete and Freddy's severed head, apparently the winner. However, Freddy winks to the audience before laughing off-screen, leaving the ending ambiguous.
Cast[edit]
Robert Englund as Freddy Krueger
Ken Kirzinger as Jason Voorhees
Spencer Stump as Young Jason
Monica Keena as Lori Campbell
Kelly Rowland as Kia Waterson
Jason Ritter as Will Rollins
Brendan Fletcher as Mark Davis
Chris Marquette as Charlie Linderman
Lochlyn Munro as Deputy Scott Stubbs
Katharine Isabelle as Gibb Smith
Kyle Labine as Bill Freeburg
Tom Butler as Dr. Campbell
Garry Chalk as Sheriff Williams
Jesse Hutch as Trey
Odessa Munroe as Heather
Chris Gauthier as Shack
Paula Shaw as Pamela Voorhees
Sharon Peters as Mrs. Campbell
Zack Ward makes an appearance as Bobby Davis, Mark's older brother.[2][3] A then-unknown Evangeline Lilly has a brief walk-on role as a high school student,[4][5] and professional wrestler Óscar Gutiérrez, better known by his ring name Rey Mysterio, briefly serves as Englund's stunt double for a sequence set in Freddy Krueger's iconic boiler room lair.[6] New Line Cinema studio chief Robert Shaye,[7] who served as producer on every preceding A Nightmare on Elm Street film, appears as the school principal, credited as L.E. Moko.
Production[edit]
This section possibly contains original research. Please improve it by verifying the claims made and adding inline citations. Statements consisting only of original research should be removed. (February 2017) (Learn how and when to remove this template message)
Development[edit]
Influenced by fans' desire for a crossover film depicting a fight between the two icons, New Line and Paramount tried to make a Freddy vs. Jason movie in 1987. But the two studios failed to agree on a story. When Jason Takes Manhattan failed to perform successfully at the box office, Sean Cunningham decided that he wanted to reacquire the rights to Friday the 13th and start working with New Line Cinema on Freddy vs. Jason, as New Line owned Nightmare on Elm Street. The concept of a fight between Freddy and Jason was not new; Paramount had approached New Line about filming a crossover years before the latter had gained the licensing rights to Friday the 13th. At that time, both companies wanted the license to the other's character so that they could control the making of the film. Negotiations on the project were never finalized, which led Paramount to make The New Blood. After Jason Takes Manhattan was released in 1989 the rights reverted to Scuderi, Minasian, and Barsamianto, who sold them to New Line. Before Cunningham could start working on Freddy vs. Jason, Wes Craven returned to New Line to make New Nightmare. This effectively put Freddy vs. Jason on hold, but allowed Cunningham the chance to bring Jason back into the spotlight with Jason Goes to Hell: The Final Friday.[8] The ninth installment "turned a healthy profit", though it was only intended to open the door for a crossover with Freddy Krueger, rather than start a new series for New Line.[9] Cunningham's "frustration" with the delayed development of the Freddy vs. Jason project forced him to create another sequel titled Jason X in an effort to keep the series in the minds of audiences. Based on Jason Takes Manhattan's concept of taking Jason away from Crystal Lake, the tenth film would put the titular character in space.[10] The film suffered from the loss of its biggest supporter, President of Production Michael De Luca, when he resigned from his position. Lack of support forced the finished film to sit for two years before finally being released on April 26, 2002; it would go on to become the lowest grossing film in the series at the domestic box office; it also held the distinction of having the largest budget of any of the previous films at that time.[11]
According to writers Mark Swift and Damian Shannon, several endings were considered for the film. One of the unused endings involved Pinhead of the Hellraiser franchise; however, New Line was discontent with securing the rights to the character.[12] New Line believed Freddy vs. Jason needed a fresh start, and chose a new actor for Jason. Cunningham disagreed with their decision, believing Kane Hodder was the best choice for the role.[13] Hodder did receive the script for Freddy vs. Jason, and had a meeting with director Ronny Yu and New Line executives, but Matthew Barry and Yu felt the role should be recast to fit Yu's image of Jason.[13] According to Hodder, New Line didn't provide him with a reason for the recasting, but Yu has explained he wanted a slower, more deliberate Jason, and less of the aggressive movements that Hodder had used in the previous films.[14] The role eventually went to Ken Kirzinger, a Canadian stuntman who worked on Jason Takes Manhattan. There are conflicting reports over the reason Kirzinger was cast. According to Yu, Kirzinger was hired because he was taller than Robert Englund, the actor who portrays Freddy Krueger. Kirzinger stands 6' 5" (196 cm), compared to the 6' 3" (191 cm) of Kane Hodder. Yu wanted a much larger actor to tower over the 5' 9" (175 cm) Englund. Kirzinger believes his experience on Part VIII helped him land the part, as Kirzinger doubled for Hodder on two scenes for the film,[13] but also believes he was simply sized up and handed the job.[14] Although he was hired by the crew, New Line did not officially cast Kirzinger until first seeing him on film. Kirzinger's first scene was Jason walking down Elm Street. New Line wanted a specific movement in Jason's walk; Kirzinger met their expectations and signed a contract with the studio.[13]
In an interview, Tait explained the reason for the reshoot.[clarification needed] He said, "Unfortunately for me, it was the only scene I was hired to do. The test audiences were confused about the original ending, they thought Jason Ritter’s character was becoming Jason [sic]. You can see it in the deleted scenes, that is why they decided to reshoot the ending. Originally I was being considered for playing the role of Jason in the entire film. It was actually between me and Ken. When they took the film to Canada, I was out of luck. There was no way they were going to pay for my flight and hotel stay when Ken was a local. Also, Ken is older than me and he was a lot more established in the business than I was at the time."[15] Describing the scene, Tait said "I was on the film for a couple days. The water sequence took a lot of preparation. They realized that when I got wet, I looked too skinny in the clothes, so they had to bulk me up with pads and extra clothing so it would look like I was still big. Being with all this extra weight, one eye covered, a machete in one hand, Freddy’s head in another hand, and being totally submerged in water, made that scene very difficult. Also, Ronny Yu wanted me to walk like I was walking on land. He wanted it to look like I could walk through the water without it making me rise to the surface. To do this effect, they had a rope tied under water that I held onto with my left hand (with Freddy’s severed head in it also), and I held myself down on the ground so I could pull myself and walk forward."[15]
Music[edit]
See also: Freddy vs. Jason (soundtrack) and Freddy vs. Jason (score)
Distribution[edit]
Novelization[edit]
Publishing company Black Flame released a novelization of the film on July 29, 2003.[16]
Home media[edit]
This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (November 2016) (Learn how and when to remove this template message)
The film was released on VHS and DVD as part of New Line's Platinum Series on January 13, 2004. The DVD release featured a second disc of bonus content that included: audio commentary by Ronny Yu, Ken Kirzinger, and Robert Englund, deleted and alternate scenes with commentary, Ill Niño's music video to "How Can I Live", trailers and TV spots, soundtrack promo and behind the scenes featurettes.
The film was released on UMD on October 4, 2005 and on Blu-ray September 8, 2009. The Blu-ray contained the same features as the original Platinum Edition DVD.[17] The film was also released as part of a 9-disc pack of all twelve Friday the 13th films on Blu-ray and a Triple Feature Blu-ray pack with the Friday and Nightmare remakes.[citation needed]
Reception[edit]
Critical response[edit]
This section needs expansion. You can help by adding to it. (November 2014)
On Rotten Tomatoes, the film has an approval rating of 41% based on 153 reviews and an average rating of 4.8/10. The site's critical consensus reads, "Fans of the two horror franchises will enjoy this showdown. But for everyone else, it's the same old slice and dice".[18] On Metacritic, which assigns a normalized rating to reviews from mainstream critics, the film has an average score of 37 out of 100 based on 29 reviews, indicating "generally unfavorable reviews".[19] Audiences polled by CinemaScore gave the film an average grade of "B+" on an A+ to F scale.[20]
Accolades[edit]
Doug Chapman and Melvin Martinez were nominated for the Best Fire Stunt in the Taurus World Stunt Awards 2004 for the double full body burn and wire stunt. Doug Chapman doubled for Robert Englund as Freddy and Glenn Ennis doubled for Ken Kirzinger as Jason in the stunt.[21]
See also[edit]
Film portal
A Nightmare on Elm Street portal
2000s portal
Mortal Kombat X, video game featuring both Freddy Krueger and Jason Voorhees[22]
Slasher film
List of monster movies
References[edit]
^ Jump up to: a b "Freddy Vs. Jason"
Jump up ^ "Exclusive Interview: Zack Ward | Friday the 13th: The Website". fridaythe13thfilms.com. Retrieved 2017-02-08.
Jump up ^ "Zack Ward biography and filmography | Zack Ward movies". Tribute.ca. Retrieved 2017-02-08.
Jump up ^ "Before They Were Stars: Evangeline Lilly". About.com Entertainment. Retrieved 2017-02-08.
Jump up ^ "Before They Were Stars: Evangeline Lilly as an Extra in "Freddy vs. Jason"". The Back Row. 2012-04-11. Retrieved 2017-02-08.
Jump up ^ "30 Surprising WWE Facts You Probably Didn't Know". WhatCulture.com. 2016-05-05. Retrieved 2017-02-08.
Jump up ^ Konda, Kelly (2014-05-30). "13 Things You May Not Know About Freddy Vs. Jason". We Minored in Film. Retrieved 2017-02-08.
Jump up ^ Bracke, Peter, pp.218–219
Jump up ^ Bracke, Peter, pg. 238
Jump up ^ Bracke, Peter, pp.242–243
Jump up ^ Bracke, Peter, pp.263–264
Jump up ^ Thurman, Trace (13 May 2016). "Hockey Masks, Machetes and Razor Fingers: The Writers Behind 'Freddy Vs. Jason' Tell All!". Bloody Disgusting. Retrieved 4 November 2016.
^ Jump up to: a b c d Bracke, Peter, pp. 280–286
^ Jump up to: a b Grove, David, p. 217
^ Jump up to: a b Interview: Douglas Tait (Jason Voorhees, ‘Freddy vs Jason’) Archived 2010-10-16 at the Wayback Machine. fridaythe13thfilms.com October 14, 2010. Retrieved April 5, 2011.
Jump up ^ "Freddy vs. Jason novelization". amazon.com. Retrieved November 12, 2010.
Jump up ^ Calonge, Juan (13 May 2009). "Warner Announces Ten Catalog Titles for September". Blu-ray.com. Retrieved 10 December 2012.
Jump up ^ "Freddy vs. Jason Movie Reviews". Rotten Tomatoes. IGN Entertainment. Retrieved July 4, 2009.
Jump up ^ "Freddy vs. Jason: Reviews". Metacritic. CNET Networks. Retrieved July 4, 2009. [permanent dead link]
Jump up ^ "CinemaScore". cinemascore.com.
Jump up ^ Taurus Award Archive Archived 2008-04-11 at the Wayback Machine.
Jump up ^ "Grab Your Clawed Gloves! Freddy Krueger Joins Mortal Kombat X". Dread Central. Retrieved December 3, 2017.
External links[edit]
Wikiquote has quotations related to: Freddy vs. Jason
Freddy vs. Jason on IMDb
Freddy vs. Jason at Box Office Mojo
Freddy vs. Jason at Rotten Tomatoes
Freddy vs. Jason at AllMovie
Freddy vs. Jason at Metacritic
Film page at the Camp Crystal Lake web site
Film page at Fridaythe13thfilms.com
Freddy vs. Jason at Nightmare on Elm Street Companion
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Real interest rate
From Wikipedia, the free encyclopedia
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Yields on inflation-indexed government bonds of selected countries and maturities.
The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation. It can be described more formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate.
If, for example, an investor were able to lock in a 5% interest rate for the coming year and anticipated a 2% rise in prices, they would expect to earn a real interest rate of 3%.[1] The expected real interest rate is not a single number, as different investors have different expectations of future inflation. Since the inflation rate over the course of a loan is not known initially, volatility in inflation represents a risk to both the lender and the borrower.
In the case of contracts stated in terms of the nominal interest rate, the real interest rate is known only at the end of the period of the loan, based on the realized inflation rate; this is called the ex-post real interest rate. Since the introduction of inflation-indexed bonds, ex-ante real interest rates have become observable.[2]
Contents
1 Risks
1.1 Fisher equation
1.2 Variations in inflation
2 Importance in economic theory
2.1 Real federal funds rate
3 Negative real interest rates
4 See also
5 References
6 External links
Risks[edit]
In economics and finance, an individual who lends money for repayment at a later point in time expects to be compensated for the time value of money, or not having the use of that money while it is lent. In addition, they will want to be compensated for the risks of having less purchasing power when the loan is repaid. These risks are systematic risks, regulatory risks and inflation risks. The first includes the possibility that the borrower will default or be unable to pay on the originally agreed upon terms, or that collateral backing the loan will prove to be less valuable than estimated. The second includes taxation and changes in the law which would prevent the lender from collecting on a loan or having to pay more in taxes on the amount repaid than originally estimated. The third takes into account that the money repaid may not have as much buying power from the perspective of the lender as the money originally lent, that is inflation, and may include fluctuations in the value of the currencies involved.
Nominal interest rates include all three risk factors, plus the time value of the money itself.
Real interest rates include only the systematic and regulatory risks and are meant to measure the time value of money.
The "real interest rate" in an economy is often considered to be the rate of return on a risk free investment, such as US Treasury notes, minus an index of inflation, such as the rate of change of the CPI or GDP deflator.
Fisher equation[edit]
The relation between real and nominal interest rates and the expected inflation rate is given by the Fisher equation
1 + i = ( 1 + r ) ( 1 + π e ) {\displaystyle 1+i=(1+r)(1+\pi _{e})}
where
i = nominal interest rate;
r = real interest rate;
π e {\displaystyle \pi _{e}} = expected inflation rate.
For example, if somebody lends $1000 for a year at 10%, and receives $1100 back at the end of the year, this represents a 10% increase in her purchasing power if prices for the average goods and services that she buys are unchanged from what they were at the beginning of the year. However, if the prices of the food, clothing, housing, and other things that she wishes to purchase have increased 25% over this period, she has in fact suffered a real loss of about 15% in her purchasing power. (Notice that the approximation here is a bit rough; since 1.1/1.25 = 0.88 = 1 - 0.12, the actual loss of purchasing power is exactly 12%.
Variations in inflation[edit]
The inflation rate will not be known in advance. People often base their expectation of future inflation on an average of inflation rates in the past, but this gives rise to errors. The real interest rate ex-post may turn out to be quite different from the real interest rate (ex-ante real interest rate) that was expected in advance. Borrowers hope to repay in cheaper money in the future, while lenders hope to collect on more expensive money. When inflation and currency risks are underestimated by lenders, then they will suffer a net reduction in buying power.
The complexity increases for bonds issued for a long term, where the average inflation rate over the term of the loan may be subject to a great deal of uncertainty. In response to this, many governments have issued real return bonds, also known as inflation-indexed bonds, in which the principal value and coupon rises each year with the rate of inflation, with the result that the interest rate on the bond approximates a real interest rate. (E.g., the three-month indexation lag of TIPS can result in a divergence of as much as 0.042% from the real interest rate, according to research by Grishchenko and Huang.[3]) In the US, Treasury Inflation Protected Securities (TIPS) are issued by the US Treasury.
The expected real interest rate can vary considerably from year to year. The real interest rate on short term loans is strongly influenced by the monetary policy of central banks. The real interest rate on longer term bonds tends to be more market driven, and in recent decades, with globalized financial markets, the real interest rates in the industrialized countries have become increasingly correlated. Real interest rates have been low by historical standards since 2000, due to a combination of factors, including relatively weak demand for loans by corporations, plus strong savings in newly industrializing countries in Asia. The latter has offset the large borrowing demands by the US Federal Government, which might otherwise have put more upward pressure on real interest rates.
Related is the concept of "risk return", which is the rate of return minus the risks as measured against the safest (least-risky) investment available. Thus if a loan is made at 15% with an inflation rate of 5% and 10% in risks associated with default or problems repaying, then the "risk adjusted" rate of return on the investment is 0%.
Importance in economic theory[edit]
Effective federal funds rate and prescriptions from alternate versions of the Taylor Rule
The amount of physical investment—in particular the purchasing of new machines and other productive capacity—that firms engage in depends on the level of real interest rates, because such purchases typically must be financed by issuing new bonds. If real interest rates are high, the cost of borrowing may exceed the real physical return of some potentially purchased machines (in the form of output produced); in that case those machines will not be purchased. Lower real interest rates would make it profitable to borrow to finance the purchasing of a greater number of machines.
The real interest rate is used in various economic theories to explain such phenomena as the capital flight, business cycle and economic bubbles. When the real rate of interest is high, that is, demand for credit is high, then money will, all other things being equal, move from consumption to savings. Conversely, when the real rate of interest is low, demand will move from savings to investment and consumption. Different economic theories, beginning with the work of Knut Wicksell have had different explanations of the effect of rising and falling real interest rates. Thus, international capital moves to markets that offer higher real rates of interest from markets that offer low or negative real rates of interest triggering speculation in equities, estates and exchange rates.
Real federal funds rate[edit]
In setting monetary policy, the U.S. Federal Reserve (and other central banks) establish an interest rate at which they lend to banks. This is the federal funds rate. By setting this rate low, they can encourage borrowing and thus economic activity; or the reverse by raising the rate. Like any interest rate, there are a nominal and a real value defined as described above. Further, there is a concept called the "equilibrium real federal funds rate" (r*, or "r-star"), alternatively called the "natural rate of interest" or the "neutral real rate", which is the "level of the real federal funds rate, if allowed to prevail for several years, [that] would place economic activity at its potential and keep inflation low and stable." There are various methods used to estimate this amount, using tools such as the Taylor Rule. It is possible for this rate to be negative.[4]
Negative real interest rates[edit]
The real interest rate solved from the Fisher equation is
1 + i 1 + π − 1 = r {\displaystyle {\frac {1+i}{1+\pi }}-1=r}
If there is a negative real interest rate, it means that the inflation rate is greater than the nominal interest rate. If the Federal funds rate is 2% and the inflation rate is 10%, then the borrower would gain 7.27% of every dollar borrowed per year.
1 + 0.02 1 + 0.1 − 1 = − 0.0727 {\displaystyle {\frac {1+0.02}{1+0.1}}-1=-0.0727}
Negative real interest rates are an important factor in government fiscal policy. Since 2010, the U.S. Treasury has been obtaining negative real interest rates on government debt, meaning the inflation rate is greater than the interest rate paid on the debt.[5] Such low rates, outpaced by the inflation rate, occur when the market believes that there are no alternatives with sufficiently low risk, or when popular institutional investments such as insurance companies, pensions, or bond, money market, and balanced mutual funds are required or choose to invest sufficiently large sums in Treasury securities to hedge against risk.[6][7] Lawrence Summers stated that at such low rates, government debt borrowing saves taxpayer money, and improves creditworthiness.[8][9] In the late 1940s through the early 1970s, the US and UK both reduced their debt burden by about 30% to 40% of GDP per decade by taking advantage of negative real interest rates, but there is no guarantee that government debt rates will continue to stay so low.[6][10] Between 1946 and 1974, the US debt-to-GDP ratio fell from 121% to 32% even though there were surpluses in only eight of those years which were much smaller than the deficits.[11]
See also[edit]
Real versus nominal value (economics)
Inflation
Deflation
IS–LM model
Macroeconomics
Financial repression
Natural rate of interest
References[edit]
Jump up ^ Marc Levinson, 2006, "Guide to Financial Markets", The Economist, page 24
Jump up ^ "FRB: Speech with Slideshow--Bernanke, Long-Term Interest Rates--March 1, 2013". www.federalreserve.gov. Retrieved 2017-03-07.
Jump up ^ Grishchenko, Olesya V.; Jing-zhi Huang (June 2012). "Inflation Risk Premium: Evidence from the TIPS Market" (PDF). Finance and Economics Discussion Series. Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Retrieved 26 May 2013.
Jump up ^ U.S. Federal Reserve-Remarks by Vice Chairman Roger W. Ferguson Jr. October 29, 2004
Jump up ^ Saint Louis Federal Reserve (2012) "5-Year Treasury Inflation-Indexed Security, Constant Maturity" FRED Economic Data chart from government debt auctions (the x-axis at y=0 represents the inflation rate over the life of the security)
^ Jump up to: a b Carmen M. Reinhart and M. Belen Sbrancia (March 2011) "The Liquidation of Government Debt" National Bureau of Economic Research working paper No. 16893
Jump up ^ David Wessel (August 8, 2012) "When Interest Rates Turn Upside Down" Wall Street Journal (full text Archived 2013-01-20 at the Wayback Machine.)
Jump up ^ Lawrence Summers (June 3, 2012) "Breaking the negative feedback loop" Reuters
Jump up ^ Matthew Yglesias (May 30, 2012) "Why Are We Collecting Taxes?" Slate
Jump up ^ William H. Gross (May 2, 2011) "The Caine Mutiny (Part 2)" PIMCO Investment Outlook
Jump up ^ "Why the U.S. Government Never, Ever Has to Pay Back All Its Debt" The Atlantic, February 1, 2013
External links[edit]
"Equilibrium Real Interest Rate," by Roger Ferguson, 2004.
On the distinction between real return and nominal bonds, by Peter Spiro, 2004.
Real interest rates by country via Quandl
Retrieved from "https://en.wikipedia.org/w/index.php?title=Real_interest_rate&oldid=844998752"
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Troy: Fall of a City
From Wikipedia, the free encyclopedia
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This article is about the miniseries. For the 2004 film, see Troy (film).
Troy: Fall of a City
Genre
Drama
Historical fiction
Fantasy
Screenplay by
David Farr
Nancy Harris
Mika Watkins
Joe Barton
Directed by
Owen Harris
Mark Brozel
Starring
Louis Hunter
Bella Dayne
David Threlfall
Frances O'Connor
Tom Weston-Jones
Joseph Mawle
Chloe Pirrie
Johnny Harris
David Gyasi
Jonas Armstrong
Alfred Enoch
Aimee-Ffion Edwards
Hakeem Kae-Kazim
Composer(s)
Robin Coudert
Country of origin
United Kingdom
United States
Original language(s)
English
No. of series
1
No. of episodes
8
Production
Executive producer(s)
Derek Wax
David Farr
Producer(s)
Barney Reisz
Location(s)
South Africa
Running time
56 minutes
Production company(s)
BBC
Kudos
Wild Mercury
Netflix
Distributor
Endemol Shine Group
Release
Original network
BBC One (UK)
Netflix (international)
Picture format
2:1 1080i
Audio format
Stereo
Original release
17 February 2018 (2018-02-17) – present
External links
BBC website
Troy: Fall of a City is a British-American miniseries based on the Trojan War and the love affair between Paris and Helen. The show tells the story of the 10 year siege of Troy, set in the 13th century BC. The series was commissioned by BBC One and is a co-production between BBC One and Netflix, with BBC One airing the show on 17 February 2018 in the United Kingdom, and Netflix streaming the show internationally outside the UK.[1][2]
Contents
[hide]
1 Premise
2 Cast
3 Production
4 Episodes
4.1 Series 1 (2018)
5 Reception
6 References
7 External links
Premise[edit]
The story of the 10 year siege of Troy by the Greeks is told after the young prince of Troy, Paris, has an affair with Helen of Troy, the wife of the Greek king.
Cast[edit]
Louis Hunter as Paris[3]
Bella Dayne as Helen of Troy[3]
David Threlfall as Priam[3]
Frances O'Connor as Hecuba[3]
Tom Weston-Jones as Hector[3]
Joseph Mawle as Odysseus[3]
Chloe Pirrie as Andromache[3]
Johnny Harris as Agamemnon[3]
David Gyasi as Achilles[3]
Jonas Armstrong as Menelaus[3]
Alfred Enoch as Aeneas[3]
Aimee-Ffion Edwards as Cassandra[3]
Hakeem Kae-Kazim as Zeus[4]
Chris Fisher as Deiphobus[5]
Christiaan Schoombie as Troilus[5]
Alex Lanipekun as Pandarus[5]
Jonathan Pienaar as Litos[5]
David Avery as Xanthias
Lex King as Aphrodite
Amy Louise Wilson as Briseis
Inge Beckmann as Hera
Shamilla Miller as Athena
Diarmaid Murtagh as Hermes
Thando Hopa as Artemis
Nina Milner as Penthesilea[6]
Grace Hogg-Robinson as Hermione
Jovan Muthray as Kaidas
Production[edit]
The series was filmed in Cape Town and consists of eight episodes.[7] It is written by David Farr, Nancy Harris, Mika Watkins, and Joe Barton, and directed by Owen Harris and Mark Brozel.[3]
Episodes[edit]
Series 1 (2018)[edit]
No. in
series
Title
Directed by
Written by
Original air date
UK viewers
(millions)
1
"Black Blood" Owen Harris David Farr 17 February 2018 (2018-02-17) 3.2 Million[8]
2
"Conditions" Owen Harris David Farr 24 February 2018 (2018-02-24) N/A
3
"Siege" Owen Harris Nancy Harris 3 March 2018 (2018-03-03) N/A
4
"Spoils of War" Mark Brozel Mika Watkins 10 March 2018 (2018-03-10) 1.6 Million
5
"Hunted" Mark Brozel David Farr 17 March 2018 (2018-03-17) N/A
6
"Battle on the Beach" Mark Brozel Joe Barton 24 March 2018 (2018-03-24) N/A
7
"Twelve Days" John Strickland David Farr 31 March 2018 (2018-03-31) N/A
8
"Offering" John Strickland David Farr 7 April 2018 (2018-04-07) N/A
Reception[edit]
On review aggregator website Rotten Tomatoes, the film holds an approval rating of 67% based on 12 reviews, and an average rating of 5.67/10.[9] On Metacritic, which assigns normalized rating to reviews, the film has a weighted average score of 56 out of 100, based on 43 critics, indicating "mixed or average reviews".[10]
References[edit]
Jump up ^ "Netflix Boards BBC Drama 'Troy' From 'Night Manager' Writer". Hollywood Reporter. March 1, 2017. Retrieved March 2, 2017.
Jump up ^ "Netflix Invests Nearly $2 Billion in European Productions, Promises More". Variety. March 1, 2017. Retrieved March 1, 2017.
^ Jump up to: a b c d e f g h i j k l m "'Troy: Fall Of A City': Bella Dayne, Louis Hunter & More Join BBC/Netflix Epic". Deadline. March 30, 2017. Retrieved April 1, 2017.
Jump up ^ Clarke, Stewart (2017-07-19). "Hakeem Kae-Kazim to Play Zeus in BBC and Netflix Series 'Troy' (EXCLUSIVE)". Variety. Retrieved 2017-07-19.
^ Jump up to: a b c d "Troy: Fall of a City - Episode 1 - Credits". BBC One. Retrieved February 20, 2018.
Jump up ^ "Troy: Fall of a City - Characters - Other Trojans Loyal to Troy". BBC One. Retrieved February 20, 2018.
Jump up ^ "David Threlfall and Frances O'Connor to star in BBC and Netflix's Troy: Fall of a City". Deadline. March 30, 2017. Retrieved April 1, 2017.
Jump up ^ Jones, Lucy. "ANNOYED WITH TROY Troy: Fall of a City flops as just 1.6m tune in to BBC's £16million bonkbuster". The Sun. Retrieved 18 March 2018.
Jump up ^ "Troy: Fall of a City: Season 1". Rotten Tomatoes. Fandago. Retrieved 18 May 2018.
Jump up ^ "Troy Reviews". Metacritic. CBS Interactive. Retrieved 18 May 2018.
External links[edit]
Troy: Fall of a City on IMDb
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2010s British drama television series
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Trojan War films
Troy
Television series by Shine Group
Television shows filmed in South Africa
Television series based on Greco-Roman mythology
Cultural depictions of Helen of Troy
2010s Australian drama television series
Television series set in ancient Greece
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