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Minsky’s Financial Instability Hypothesis and university phd dissertations, Modern Economics. Hyman Philip Minsky (b. Nichols Hits? 23 September 1919, d. Duke University Phd Dissertations? 24 October 1996) was best known for his Financial Instability Hypothesis of the business cycle, which emphasized the dynamics of business investment finance as a recurring cause of macroeconomic instability (Minsky 1972, 1980). Letter? During a boom, the university phd dissertations expansion of hurricane hits essay debt-financed investment spending causes initial “robust” financial structures to evolve into “fragile” financial structures, and university phd dissertations, it is this evolution that ultimately brings the expansion to an end. In the subsequent contraction, typically some fragile financial structures collapse while others are refinanced into more robust financial structures, thereby creating the preconditions for provincial essay renewed expansion. A central reason for policy intervention in phd dissertations this boom-bust process, Minsky emphasized, is the ever-present danger that the essays contraction will get out of control and spread into a system-wide debt-deflation. In this way, a normal business recession can become instead a deep and long-lasting depression, such as happened in 1929-1933 when debt deflation brought down the US banking system and ushered in a depression that did not end until World War II, notwithstanding all the attempts of Roosevelt’s New Deal.

Wartime public spending and wartime public debt finally did succeed in recreating the robust financial preconditions for renewed economic expansion in the immediate postwar decades. But over time, once private debt had a chance to build up for a while, robust financial structures again evolved into fragile structures, and instability returned starting in about 1966. Unfortunately, the duke return of instability coincided also with the ascendancy of a new interventionist orthodoxy in economic theory which, extrapolating from the entirely unusual circumstances of the immediate postwar, attributed business fluctuations not to changing financial structures but rather simply to fluctuations in aggregate demand. According to this new orthodoxy, incipient downturns could and should be countered by appropriate government fiscal and monetary policies. Government spending could maintain aggregate demand directly, and/or tax cuts and subsidies could stimulate private consumption and investment indirectly, so as to maintain aggregate income near the level of full employment. In the short run, this policy orthodoxy achieved its stated goal, but in the longer run it acted to block the natural process of restoring robust finance, with the consequence that an covering letter, increasingly fragile financial structure served as an increasing obstacle to capital investment and hence also to robust economic performance.

Because of government intervention there was no debt deflation and no great depression, but rather stagnation and university phd dissertations, inflation during the decade of the creative 1970s. Finally, the extraordinary tight monetary policy of 1979-1982 under Paul Volcker turned the tide and university, created the financial precondition for renewed expansion in the decade to follow (Minsky 1986). However, the subsequent expansion was different from the immediate postwar, because the creative writing financial preconditions were different. What followed after Volcker was a new kind of institutional arrangement that Minsky called “money manager capitalism”, driven by phd dissertations, a new breed of hurricane institutional investors in pension funds, insurance companies, and duke phd dissertations, mutual funds. Unlike the immediate postwar, long-term capital development of the nation was off the table, replaced instead by the pursuit of short-run financial portfolio returns.

In effect, tight monetary policy had succeeded in creating a parallel banking system, focused more on real estate and housing speculation than on increasing business productivity. Essays? Minsky viewed the financial crisis of 1987 as a first crisis of duke university phd dissertations this new system. Drama Essay? He did not however live to see the global financial crisis of 2007-2009, which the press dubbed a “Minsky Moment”. Minsky got his start in economics at the University of Chicago, where he enrolled in September 1937 in the middle of the Great Depression. There is no reason to duke university, doubt Minsky’s own assessment that two Chicago professors, Oscar Lange and Henry Simons, were the most significant early influences on his thought (Minsky 1985). The inspiration to study economics came from grace hurricane hits england essay Lange, who was at that time working out a synthesis of Marx and duke, neoclassical economics that he called market socialism. Henry Simons was the source of Minsky’s lifelong interest in defend finance, as well as the phd dissertations idea that the fundamental flaw of ss 11 modern capitalism stemmed from duke university phd dissertations its banking and financial structure. Minsky took the creative writing lesson that capitalism could be stable if, first, large-scale capital investment were owned and financed publically rather than privately and, second, smaller scale private business were financed with equity rather than debt. After a three-year interruption for war service (Papadimitriou 1992), Minsky continued his education at Harvard University where he fell in with the young Keynesians who gathered around Alvin Hansen. Duke University? However it was Joseph Schumpeter, not Hansen, who was the more important influence.

A “conservative Marxist”, as Minsky would later characterize his mentor, Schumpeter’s earliest work on structure gcse the Theory of Economic Development (1912) had emphasized the importance of duke university phd dissertations money creation by the banking system as the crucial source of entrepreneurial finance. Banks can and ss 11, do lend by creating deposits, which serve as purchasing power that entrepreneurs use to acquire the real resources they need in order to make their future plans into present realities. Phd Dissertations? This mechanism, according to covering letter, Schumpeter, is the source of the dynamism of capitalism, just as it is also, according to Simons, the source of capitalism’s instability. Minsky’s 1954 PhD thesis “Induced investment and business cycles” represents his attempt to insert his concerns about finance into the then-standard Hansen-Samuelson accelerator-multiplier model, which has no finance in it. Viewed in retrospect, the more fundamental contribution Minsky made in duke university phd dissertations his thesis was to conceive of ordinary business firms as akin to banks, insofar as they can be seen fundamentally as cash inflow-outflow operations that confront both solvency and liquidity “survival constraints” (1954, p. 157-162). From this point of view, the defend natural accounting structure for the economic system is not the National Income and Product Accounts, which served as the empirical basis for phd dissertations the Hansen-Samuelson model, but rather the newer Flow of essay Funds accounts developed by American institutionalist Morris Copeland (1952). Duke Phd Dissertations? In effect, Minsky’s mature Financial Instability Hypothesis would build on this alternative empirical basis, though Minsky goes beyond the Flow of Funds accounts to emphasize the time-dated pattern of cash commitments embedded in examples college essays the structure of outstanding debts of various kinds (Minsky 1964). A final, but crucial, early formative influence was Minsky’s experience as a participant observer at a major Wall Street brokerage house, where he learned about duke phd dissertations new developments in the Federal Funds market and the use of repurchase agreements (Minsky 1957). He concluded from examples college that experience that the duke phd dissertations goal of using monetary policy for aggregate stabilization was probably illusory on account of the attendant financial innovation. The central bank could try to limit the covering supply of duke phd dissertations public bank reserves, as a way of holding back expansion, but the result would only be to encourage banks to hurricane hits essay, develop their own private mechanisms for economizing on scarce reserves.

The Fed Funds market and the repo market were already doing that as early as 1957. In later years, non-reservable bank certificates of deposit, and eventually a parallel system of non-bank finance, would go even further (Minsky 1966). With each additional step the link between policy tools and macroeconomic outcomes became further attenuated (Minsky 1969, 1980). The Financial Instability Hypothesis. At the very center of Minsky’s conception of what makes a financial structure robust or fragile is the relationship between the time pattern of cash commitments and the time pattern of expected cash flows. A firm with cash flows greater than cash commitments for phd dissertations every future period is said to be engaged in “hedge” finance, because the unit can meet its commitments from its own resources. Examples Of Great College Essays? So-called “speculative” financial structures expect cash flows greater than interest payments on outstanding debt, but also anticipate the need to refinance the principle at maturity. Phd Dissertations? That makes the firm vulnerable in write letter the event that refinance turns out to be unexpectedly expensive or even unavailable. So-called “Ponzi” financial structures are even more vulnerable since they anticipate cash flows insufficient even to cover interest payments, so refinance depends on duke university phd dissertations capital gains in the underlying investment as well as general financial conditions. The core idea of the Financial Instability Hypothesis is that there is a built-in tendency for the system to shift over time from robust “hedge” financial structures to examples of great college essays, fragile “speculative” and “Ponzi” financial structures. Duke University? A central driver of this tendency is the apparent cheapness of short term finance relative to long term finance, a consequence of liquidity preference which means that wealth holders are willing to accept a lower yield on assets that are more readily (or imminently) turned into current cash.

Thus it is always tempting to finance long-lived capital assets with short-term debt, planning to roll over the debt at maturity into another short-term debt. That temptation pushes firms from hedge to speculative finance. The temptation is always there, but in the immediate aftermath of a contraction that has visibly involved the collapse of fragile financial structures, both borrowers and lenders are able to resist the temptation. Liquidity risk is on their minds. Thus, it is only gradually over time that robust financial structures give way to fragile financial structures, as evidence accumulates that giving in to temptation is once again a profitable strategy, for both borrowers and lenders. Eventually it seems to be safe, and margins of safety begin to erode in the pursuit of higher expected gain. In Minsky’s mature work, a key mechanism leading to this erosion is the positive feedback between investment spending and business profits, which Minsky took from the work of Kalecki (1971).

When investment spending is structure gcse drama essay, strong, aggregate demand and hence aggregate business profits are also strong so that business cash flows exceed expectations, proving more than sufficient to meet existing cash commitments. Thus the lesson is learned that previous caution was excessive, and thus the road is opened for a shift to more fragile finance. Duke? And of provincial essay course the duke university same mechanism works the opposite way on the way down, as lower investment leads to lower profit than expected and hence greater than expected difficulty in meeting cash commitments. Minsky’s discovery of statement Kalecki, probably during his sabbatical year 1969-70 at St. Johns College in Cambridge, England, was crucial also for duke phd dissertations shifting Minsky’s view of Keynes. Back at Harvard, the Keynes that Minsky had learned was supposed to be about a liquidity preference theory of money demand, which interacted with an exogenously fixed money supply to set the rate of how to letter interest.

There was nothing much in that Keynes for Minsky, with his Simons-Schumpeter vision of integral role of elastic bank finance for business investment, a commercial loan model of the (endogenous) money supply rather than Keynes open market operations (exogenous) money model. By contrast, although Kalecki’s Marxism was not the conservative type favored by duke phd dissertations, Schumpeter, it was a familiar frame and it was through that frame that Minsky found his way to write covering letter for visa, Keynes. In his subsequent book John Maynard Keynes (1975), Minsky finally embraced Keynes in words that could apply equally to himself: “The knowledgeable view of the operation of finance that Keynes possessed was not readily available to academic economists, and those knowledgeable about finance did not have the skeptical, aloof attitude toward capitalist enterprise necessary to understand and appreciate the basically critical attitude that permeated Keynes’s work” (p. 130). In the duke phd dissertations end, Minsky came to think of his own financial instability hypothesis as a completion of Keynes’ work by filling in the details of the nichols hurricane hits essay financial system, the “logical hole” (p. 63) that Keynes left out in his own academic formulations. Reading Keynes with his new understanding that Keynes, like himself, was always looking at the world through the lens of university phd dissertations banking—the “Wall Street” or “City” view–led Minsky to formulate what he called his “two-price theory of investment”. Contra the quantity theory of money, monetary conditions do not drive the write covering price of output; but they do drive the price of capital assets. The kind of liquidity-stretching innovations that banks use to overcome central bank constraint (as Minsky 1957) not only enable them to provide the investment finance demanded by their business clients, but also operate directly to stimulate that demand through their effect on the price of existing capital assets. University Phd Dissertations? Specifically, creation of private liquidity to satisfy demand for liquidity preference lowers the premium required to hold illiquid capital assets, and hence drives up their price.

Subsequently, a widening gap between the price of of great essays existing capital assets and the current output price of new capital assets provides incentive to add new capital assets to the old, which is investment. This “Keynesian” asset price mechanism offers yet another path leading from robust finance to duke university, fragile finance. Minsky’s Simons-Schumpeter-Kalecki-Keynes view of the world put him at odds with the postwar monetary Walrasian orthodoxy of Patinkin-Tobin-Modigliani. Whereas orthodoxy emphasized the examples college essays use of monetary policy to “control” aggregate fluctuation, Minsky always emphasized instead the “support” function as lender of last resort in a crisis and market maker in normal times. Regular engagement with market participants through the discount window would, Minsky thought, allow the duke university phd dissertations central bank to shift the balance a bit toward hedge finance by favoring robust structures in its collateral policy. Toward that end, he urged widening access to the discount window in write normal times to include a broader cross-section. This divergence from orthodoxy on university phd dissertations policy reflects a deeper methodological divergence.

Whereas postwar economic orthodoxy characteristically operated within an intellectual frame of market equilibrium, even intertemporal market equilibrium, with abstract individual agents making rational intertemporal allocation decisions, Minsky characteristically operated closer to the lived reality that actual agents confront, namely an open-ended future that is substantial uncertain (not just risky) and a present choice set that is substantially constrained by survival constraints of how to covering letter various kinds. Minsky’s agents are not irrational, but rather more like Schumpeter’s constructive entrepreneurs who imagine a possible future and then use their cash inflow-outflow interface with the economic system to acquire resources in an attempt to make that imagined future a present reality. In a world like this, it matters a lot which agents get the chance to university phd dissertations, make that attempt; it matters for covering for visa the capital development of the nation. Minsky’s financial instability hypothesis was designed to explain the times he was living in, not so much the post-Volcker era of duke university phd dissertations money manager capitalism. At the center of Minsky’s picture is business investment finance not household mortgage finance, bank lending not capital market finance, and his purview is characteristically domestic not global. But the analytical apparatus he developed is more general. Hurricane Hits Essay? The banking view that he took toward business investment is equally applicable to any other economic agent—we are all of us cash inflow-outflow entities, facing solvency and liquidity survival constraints. Similarly applicable is duke university, Minsky’s emphasis, at the level of the system as a whole, on the shifting match between the examples essays time pattern of cash commitments that is embedded in the existing structure of debt as compared to the time pattern of expected cash flow to university phd dissertations, fulfill those commitments.

Copeland, Morris A. 1952. A Study of Money-flows in the United States. New York: National Bureau of Economic Research. Kalecki, M. 1971. Selected Essays on the Dynamics of the Capitalist Economy (1933-1970). Cambridge, UK: Cambridge University Press. Minsky, Hyman P. 1954. “Induced investment and business cycles.” Unpublished PhD dissertation, Department of Economics, Harvard University. Minsky, Hyman P. 1957. “Central banking and money market changes.” Quarterly Journal of Economics 71 (2): 171-187.

Reprinted as Ch. 7 in Minsky (1982). Minsky, Hyman P. Provincial? 1964. “Financial Crisis, Financial Systems, and phd dissertations, the Performance of the Economy”. Essay On War? Pages 173-380 in Private Capital Markets. Commission on Money and duke university phd dissertations, Credit Research Study. Englewood Cliffs, NJ: Prentice Hall. Minsky, Hyman P. 1969. “The New Uses of Monetary Powers.” Nebraska Journal of structure essay Economics and Business 8. Reprinted as Ch. Duke Phd Dissertations? 8 in Minsky (1982). Minsky, Hyman P. 1972. “Financial Instability revisited: the economics of disaster.” In Reappraisal of the thesis Federal Reserve Discount Mechanism, Board of Governors, Federal Reserve System.

Reprinted as Ch. 6 in university phd dissertations Minsky (1982). Minsky, Hyman P. 1975. Writing Essay? John Maynard Keynes. New York: Columbia University Press. Minsky, Hyman P. 1980. University Phd Dissertations? “Finance and Profits: the how to letter changing nature of American business cycles.” In The Business Cycle and Public Policy 1929-1980: A Compendium of Papers submitted to the Joint Economic Committee. Congress of the United States, 96th Congress, 2nd Session. Washington, DC: Government Printing Office. University? Reprinted as Ch.

2 in Minsky (1982). Minsky, Hyman P. 1980. “The Federal Reserve: Between a Rock and a Hard Place.” Challenge 23 (May/June), 30-36. Reprinted as Ch. 9 in writing essay on war Minsky 1982. Minsky, Hyman P. 1982.

Can ‘It’ Happen Again? Essays on Instability and Finance. Armonk, NY: ME Sharpe. Minsky, Hyman P. Duke University? 1985. Provincial Essay? “Beginnings.” Banca Nazionale del Lavoro Quarterly Review 154: 211-221. Minsky, Hyman P. Duke? 1986. Stabilizing an Unstable Economy.

Twentieth Century Fund Report. New Haven and London: Yale University Press. Papadimitriou, D. B. Grace Hurricane England Essay? 1992. “Minsky on himself.” Pages 13-26 in Essays in Honor of Hyman P. Minsky, edited by S. University Phd Dissertations? Fazzari and D. B. Examples? Papadimitriou. Armonk, NY: ME Sharpe. 4 comments on “ Minsky’s Financial Instability Hypothesis and Modern Economics ” Good essay by Mehrling summing up Minsky’s work. For Minsky’s view of monetary policy to work properly (use the discount window, not the open-market desk), you have to have honest and competent discount window administration. I encountered that at the two Federal Reserve Banks at which I worked, at duke university phd dissertations the times that I worked for them (1974-1994). I’ve been writing about it ever since. If you politicize the discount window, then how can Minsky’s corrective or stabilizing model work? Alas, today we might live in defend thesis the worst of both worlds: Politicized open-market operations (see, e.g., above-market interest rates paid on duke reserves and a subsidy rate paid on reverse repos) and a politicized discount window during the crisis (anything involving Section 13(3)).

And we haven’t even discussed foreign exchange swap lines. Perry, this is great; it widens my understanding and appreciation of Minsky. Did you mention when in ss 11 provincial Utah that you are working on university phd dissertations a book? Was it on Minsky? Re: Paul Volcker.

“So back to the 70?s, and continuous oil price hikes by a foreign monopolist. All nations experienced pretty much the same inflation. And it all ended at about the same time as well when the price of crude fell. The ‘heroes’ were coincidental. In fact, my take is they actually made it worse than it needed to be, but it did ‘get better’ and they of course were in the right place at the right time to get credit for examples college that.” “Next, President Carter’s appointment of Paul Volcker to Chair the Fed was a disaster for people in low wage jobs, since Volcker and his successors used wage rises as a criterion for evaluating whether inflation was accelerating. So, during and after Volcker’s tenure, the Federal Reserve systematically repressed wages by raising its overnight rate targets whenever private sector wages began to rise, and university, cooling the economy, a policy that may or may not still be somewhere in provincial essay the background of the Fed’s toolkit under Janet Yellin. In short, summarizing all of the foregoing, President Carter did not advocate strongly for fiscal policies that would create jobs, and, in duke phd dissertations addition, he opposed the efforts of provincial many in the Democratic Congress to university, legislate such programs. This attitude toward fiscal policy was also reflected in Congress, though to a lesser degree. So, overall it has to be concluded that during the Carter Administration, little was done by the Government to achieve and write covering for visa, maintain full employment at a living wage. Why was the Government so opposed to doing what was necessary to university, achieve living wages and full employment?

Again, it was because a majority of Government decision makers, including President Carter, believed in the gospel of statement fiscal responsibility and austerity. Duke University? They were incapable of recognizing that they could spend what was necessary to accomplish these goals, even though FDR had shown them what was possible during World War II and defend thesis, part of the Great Depression, and even though they had even more policy space than FDR had to deficit spend, due to the shift to a non-convertible fiat currency, with floating exchange rates, and no debts in foreign currencies, completed by President Nixon in 1971.”

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20 Best And Worst Fonts To Use On Your Resume. Duke University! Before you even walk into a job interview you’ve made a first impression on the interviewer. How? Through your resume. Ss 11 Essay! According to a study conducted by the job search site TheLadders.com, recruiters spend only duke university about six seconds scanning a resume. So it’s essential that your resume makes a great first impression — that it looks professional and well organized. How do you do that? You start by using a resume font people can actually read (that#8217;s what this post is for), then you design a resume that stands out from the rest (here#8217;s how you do that). When you have both these things you go into Canva and design the thesis, thing for free in no time (here#8217;s how you upload fonts from this article into Canva and here#8217;s where you go in Canva to start your new resume design right now). Times New Roman is duke, probably the most commonly chosen fonts for resumes — the very reason you should avoid it, and gcse drama essay, why it appears on our “Worst” list.

So if you don’t want your resume to look like hundreds of others, you’ll want to choose something else. And Garamond is a great alternative. A timeless serif typeface like Times New Roman, Garamond’s precursors have been in use for around 500 years. Duke! The modern version has the benefit of defend statement, giving your resume a classic, polished look that’s much more interesting that the overused Times New Roman. As a bonus, if you’re struggling to condense your resume to one to two pages (which is a good idea), Garamond can help you fit more text on duke phd dissertations, a page without sacrificing readability by structure gcse drama lowering the font size or crowding your design by tightening up the spacing. This simple, sophisticated sans-serif typeface, designed in university, England in the 1920s, will give your resume a look that is both classic and modern. It’s used widely in the UK (across the British Railways system, by the BBC) and elsewhere. You might also notice that Gill Sans is very similar to the custom lettering featured on the famous, WWII-era “Keep Calm and write covering for visa, Carry On” poster, rediscovered at a British bookstore in duke, 2000 and subsequently popularized with many replicas of the defend thesis, design.

You’ll find this font distributed with Mac OS X and some Microsoft software as Gill Sans MT. Cambria, a serif font, is university, part of structure essay, a suite of typefaces called the duke phd dissertations, ClearType Font Collection, which has been widely distributed with Microsoft Office programs. These typefaces (Calibri, Cambria, Candara, Consolas, Constantia, and Corbel) were designed specifically to perform well on computer monitors. The studio that created Cambria describes it as “the ‘new Times New Roman”…designed specifically for provincial, on-screen reading, while still remaining applicable for print,” thanks to its sturdy letter construction that retains legibility even at small sizes. This makes Cambria a good choice for both online and duke university phd dissertations, printed resumes.

Wikimedia Commons/Hans Hoogglans. Provincial Essay! Although it has been the default Microsoft Word font since 2007, Calibri is still not used as often as Arial, which landed on duke university phd dissertations, our “Worst” list for write letter, that reason. University Phd Dissertations! This font has other things going for it, though; professional resume writer Donna Svei points out that typing in Calibri at a 12 pt. size will produce around 500 to 750 words, the ideal length of a two-page resume. Our third and last selection from ss 11 essay Microsoft’s ClearType Font Collection, Constantia’s rounder letterforms make it look more friendly and duke phd dissertations, less stuffy than many serif typefaces. It’s also suitable for use both on-screen and in printed documents, making it useful for drama essay, when you need to distribute your resume in both digital and hard copy form.

Originally designed for corporate use, Lato is sans-serif font created to look neutral in body copy but have some unique traits at larger sizes. The font’s designer describes Lato as “serious but friendly” — perfect for phd dissertations, resumes. It comes in a wide range of how to write covering letter, weights and university phd dissertations, styles, though the “hairline,” “thin,” and “light” weights will be too hard to see at small sizes. It’s available for download (free for both personal and commercial use) and for web use on Google Fonts. Didot is essays, a distinctive serif font with an upscale look (perhaps a product of its Parisian roots). This classy typeface can lend some style to your resume and seems to university phd dissertations be particularly popular for industries like fashion and photography. However, its delicate serifs display most clearly at larger sizes, so you’ll do best saving Didot for headings rather than body copy. Wikimedia Commons/Pierre Rudloff.

This Swiss sans-serif typeface is considered by many designers and typographers to be the king of fonts. It even has its own self-titled documentary film. Thanks to its modern, clean lines and exceptional clarity, Helvetica is widely used in provincial essay, everything from major corporate logos (BMW, American Airlines, Microsoft) to New York City’s subway signs. To give your resume a clean and contemporary look that’s still professional, try Helvetica. It’s included with Mac operating systems, but if you’re wanting to use it with Windows, you’ll have to purchase it. Georgia is another alternative to Times New Roman. Duke University Phd Dissertations! This serif font has letterforms with thicker strokes that make it easy to read even at small sizes. Plus, because it was created specifically for clarity on writing on war, computer monitors, it looks great viewed on any digital document, such as if you’re sending your resume as a PDF. This versatile sans-serif font has a very clean, crisp appearance that will give any resume an updated look.

It has multiple weights that you can use to differentiate the various sections and features of your resume, but you should probably avoid the “book” and “light” weights, as well as any condensed versions — they can be hard to duke read. Avenir Next is another good option; it was released as a follow-up to Avenir to improve the font’s on-screen display capabilities. Dribbble/Mario Leo Fasolo. Surprised this one is on the list? There’s nothing wrong with the font in itself, it’s just that it has been (over)used and abused. Write Covering Letter For Visa! Since everyone else is university, using it on provincial essay, their resumes, yours won’t stand out. Plus, Times New Roman is hard to read at duke, very small sizes and doesn’t display particularly well on screens. Like Gill Sans on our “Best” list, Futura was created in the 1920s.

Except this sans-serif typeface was designed in Germany and is more geometric in ss 11 provincial, form. Although it’s a clean, attractive font, the overall appearance is somewhat stylized and atypical. With quirks like unusually tall lowercase letters and a jarring contrast between sharp and round letter shapes, Futura leans more toward decorative and interesting (a.k.a, a display font, meant to be used sparingly) than practical for text-heavy documents like resumes. In the university phd dissertations, overused category, Arial is Times New Roman’s sans-serif equivalent. Using a font that’s so common (and, some would say, boring) may be perceived as a lazy choice — not putting much thought or effort into grace nichols hurricane hits your resume. Plus, Arial is basically an duke university phd dissertations adaptation of examples of great college essays, Helvetica that’s a little looser and more irregular in its construction. Duke Phd Dissertations! There’s nothing wrong with conventional fonts, but there are better sans-serif choices out statement there than Arial.

Designed to replicate the duke phd dissertations, look of a typewriter and later adapted for use on actual electric typewriters, this font makes it look like — you guessed it — you typed your resume on structure gcse drama, a typewriter. University! Which you didn’t — unless you haven’t updated your resume in 30 some-odd years. Plus, because this is a monospaced typeface (every letter is spaced equally, as opposed to examples of great college most other proportionally spaced fonts) it can look a little unnatural, particularly for whole pages of text. Tempted to put your name at the top of your resume in duke university phd dissertations, a script that looks like handwriting to give it a little personality? Don’t do it! And especially don’t use Brush Script, which has been so overused that it now looks cheap and dated rather than retro and nostalgic (it was designed in college essays, 1942). While certain creative industries will offer some leeway in playing with the appearance of your resume, when in doubt, it’s always a safe bet to stick to conservative font choices (which means no scripts or other display fonts). Duke University! Unless you’ve been living under a rock for the past several years, you’ll know that using Comic Sans is considered the cardinal sin of how to write covering for visa, font choices. It was created in 1994 to duke phd dissertations replicate the look of comic book speech bubbles, and that’s about all it’s appropriate for. The casual, almost childish look of the font makes it distracting in any serious context.

And in case you’re wondering why anyone would use Comic Sans on a resume, according to this manager, it does happen. Just remember: it’s a good rule of thumb to stay far away from any font that might possibly come across as fun, flowery, flashy, or funky. Century Gothic has a sleek, modern look, but it’s probably a little too irregular for defend statement, resumes. Additionally, the thin letters of this font’s regular weight can be hard to read, particularly at small sizes. There’s really no good reason anyone should want to use this on a resume, but people seem to like it. So if you’re tempted to give your resume an adventurous or exotic air with Papyrus, resist.

This font is university, so cliche (probably second only to Comic Sans) that is provincial essay, has become something of duke phd dissertations, a joke — Fast Co. Design puts it this way: “as everyone who has written a school project over creative writing on war, the last decade will tell you, Papyrus is the font you use to spell out the phd dissertations, word #8220;Egypt.#8221; Want to make a bold, confident impression with your resume? You don’t need a bold, heavy font to do it. Impact is most likely intended for use in drama essay, all caps for duke, headlines, but because it includes lowercase letters, people are sure to structure drama use it for body copy, where it’s almost impossible to read. Yes, Trajan Pro has a dignified, important feel, but it would be more appropriate etched into stone than typed on your resume. That’s because the typeface was inspired by the letterforms carved into Trajan’s Column, a monument dedicated to the Roman emperor of the same name. The font only has capital letters and small caps (no lowercase option), which makes it unsuitable for university, typing out readable sentences on your resume. So it’s probably a good idea to leave Trajan to the movie posters (more than 400 of them), particularly those starring Russell Crowe. Provincial Essay! For resumes, a font size of 10 to duke university 12 pt. (depending on the particular font, but no smaller than that) is examples of great essays, standard. Larger sizes are acceptable for headings or subheadings. Remember that everyone viewing your resume on a computer will have different fonts installed, and you don’t want your carefully chosen typeface automatically replaced with a substitute that messes up the document’s appearance and formatting.

That’s why it’s a good idea to always save and phd dissertations, send your resume as a PDF, which preserves the original appearance (unlike a MS Word document). Writing Essay On War! Do you have a favorite (or least favorite) font for resumes? Share in university, the comments below. Bring great design to your entire workplace. Janie is a freelance writer and graphic designer and the owner of Design Artistree Creative Studio. How To Write Letter! After college, she built on her background in art to explore design. and duke university phd dissertations, loved it.

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How to Make an Acting Resume With No Experience. Putting together an actor resume is probably the first and easiest thing an aspiring actor should do. But here’s the conundrum: how do you make an acting resume with no experience ? If you’re in this position, don’t sweat it. University. It’s not a big deal. Really, it’s not. I remember myself having this exact same thought when I was just embarking on the acting journey.

In reality, almost every single actor has been in a position of having an empty actor resume. We’ve all started out acting with no credits. As a newcomer, you’ll have to get comfortable with the idea that you’re a fresh face on thesis, the block, you won’t be signed by any top talent agencies in Los Angeles (yet) and you’ll have to work with what you have. Below, I will quickly walk you through what an actor resume is, what purpose does it serve, what resume you need for voice over jobs, the duke university standards for an acting resume in Los Angeles, and the best way to go about writing your actor resume when you have no experience to list. Before we begin, would you like a sample standard LA acting resume that you can edit with your own details? Share some social love and examples essays, you can download an editable PDF.

Let’s start at the beginning. After reading through this acting resume guide, if you have any questions, drop your comments here and duke, I will try to answer them the best I can. What’s an acting resume, and why do you need one? I’m sure everybody knows what a CV (curriculum vitae) is. It’s that piece of paper that people use to show to their potential employers. Surprise surprise, an actor’s resume is the exact same thing that you use when they’re looking to book acting auditions in LA. Defend Thesis. It serves the same purpose, and duke university, is even structured similarly.

Alongside your headshot, an essays, acting resume is duke one of the most important actor’s marketing tools that every aspiring thespian needs to have. It’s your calling card. You will list all of your acting experience, education, acting training and special skills that you have alongside your contact information, and a few physical stats. Look to the right. This is what a Los Angeles based working actor’s resume looks like. I removed the structure gcse drama name and contact info. When you submit for an acting job, a CD will receive your full actor’s package: actor resume, headshot and, if you have it, your demo reel. The CD will look at your headshot first (!) and if you look the part, they will turn it over to see your acting resume on the other side.

They’ll scan through your physical stats, your credits and, sometimes, your special skills if that applies. Say your resume looks professional, your look fits the university phd dissertations part, and the CD is happy with your experience and credits. In this case, you’re going to get a call about an grace hurricane england, audition. Congratulations! You just got your first audition. Now back to the real world… Even if you have not done any acting work whatsoever, you can still put together an actor resume with no experience, and send it over to CDs with confidence . Despite your worst delusional fears (we’ve all be there, trust me), nobody’s going to university think of you poorly if you have little or no acting experience. CDs understand that every actor has to covering letter start somewhere, thus you may get by on your looks, physical stats, training and/or special skills alone. Most importantly, don’t get discouraged if you don’t.

Simply move onto the next project. Bottom Line : An acting resume is what every actor needs to put together as soon as they’ve decide to enter show business. It’s their calling card. Basics of duke university a professional actor resume. Even though you have no credits under your belt yet, you still want to how to write letter for visa keep your actor resume looking clean and professional. Phd Dissertations. Here are some basics to go by when structuring an essay on war, acting CV: An acting resume is ALWAYS only one sheet of university paper. No exceptions. It must have enough white space to be read easily (hey, you’re perfect for it!) It should be sized to creative writing essay fit a 8?10 headshot so that you can staple it to the back.

Use standard fonts such as Arial or Times New Roman. Do not cram the duke resume with too many things. Keep it simple and relevant. Defend. Do not use any colors. University Phd Dissertations. It’s just black and white, plus headings for sections. Never lie on your resume.

You’ll be surprised how quickly that gets out. “ DON’T lie on creative on war, your resume. Actors do this all the time and they always get caught. If you claim to have booked a guest star role on “NCIS,” it stands to reason you would have footage from the show on duke phd dissertations, your reel. Examples Essays. If you don’t, I’m going to ask why. And that’s where the lie will start to fall apart. University Phd Dissertations. ” – Secret Agent Man , Backstage.com. These are the primary “rules” for a professional looking acting resume. Follow them and you’ll be alright. If you download the for visa sample acting resume above , you’ll notice that it’s slightly different from the resume in the picture, but the university phd dissertations difference is irrelevant.

In fact, most casting directors prefer the simplicity because it’s easier to read and remember. What matters the structure most in an acting resume is the basic information that’s easy to see: personal details at the top, followed by credits and then training. You can choose either format, just keep it clean and university phd dissertations, easy to read. And now for the acting resume format technicalities. I suggest you opening that resume sample from above so that you understand better what’s what. Bottom Line : Your acting resume should look clean, professional, adapted for quick reading, and with the most recent and most relevant credits. Your personal information . Grace Hurricane Hits England. As you can see in phd dissertations, the acting resume template I’ve linked to of great essays above, and the provided Los Angeles actor resume example, we’re supposed to university phd dissertations start with some personal details. For the purpose of this article, let’s assume that you’re a non-union actor with no talent agent representation, which is most likely the grace hurricane hits case anyway. Actor’s name . This is where your stage name (not your legal name) goes. Duke. Simple. Ss 11 Provincial. Union title.

If you’re not affiliated with any actor’s union, then skip this part. Phone number . Always use the number by which you can be reached any time. Physical stats . Self-explanatory. NEVER put your age or date of birth on duke phd dissertations, the resume. After the basic personal information, we’re moving onto structure gcse drama essay, the credits and what acting experience you have.

Your acting experience. Normally, this is where you would list all your credits, from television to film to theater to new media. If you’re pursuing acting in Los Angeles, most of your work will be focused on Film/TV, thus one resume is usually enough. However, people in New York City, for example, will often have at least two actor resumes: one focused on screen work, one on university phd dissertations, stage work. If you don’t have much acting experience, then one acting CV will be enough. Film credits . In this section, start with the name of the show , followed by the type of defend statement role (NOT your character’s name; see below) you did, then production company and finally director’s name . Television credits . Similarly to film credits, start with the name of the show , then the type of duke university phd dissertations role (different to film type roles; see below), followed by television network and the director’s name . The same applies to writing essay Web Series/Webisodes productions. Theater credits . Again, begin with the name of the university production/play , followed by your role/character’s name (this time it’s the structure other way around), then the theater company’s name and duke, the location of creative essay on war where the production took place. A few quick tips:

Always, always list film and television credits under separate sections. Duke. You’ll see some bad actor resume examples where they’re filled under “Film/TV.” DO NOT do this, because it will make your acting resume look very unprofessional. The reason is mostly because role types work differently on film and TV (see below). Thesis Statement. Once you get more experience under your belt, try to remove some of the duke university phd dissertations older and/or less important stuff from the provincial resume. Keeping it clean will make you look more professional. You also want to have casting directors focus on your best and most important work. You can list your credits any way you want. Some people list them chronologically, but I usually suggest listing your best work at the top so that it catches peoples’ attention. Never put extra/background work on university, your resume.

The reason being is that extra work is not considered acting. How To Write Letter. Some people will do so anyway to fill the space, but I strongly advise against that. If you’re ever asked about that part, and you have to say that you were actually a background on the set, that will make you look very unprofessional. University Phd Dissertations. When listing theater credits, you don’t usually name the director. However, if the writing essay director’s name is duke phd dissertations really well-known, I would list that either alongside the theater company’s name, or instead of the location if you’re short for space (similar to Film/TV credit format). Your training and education . In this section, list all the relevant acting training that you’ve had so far. That usually includes: acting classes, workshops, formal theater/acting education and other informal acting/drama training. Begin by listing the name of your acting teacher (for private/group classes) or the institution where you’ve studied acting. Right next to ss 11 provincial it you’ll list what type of acting classes those were, which you’ll know after you’ve taken them. There’s too many for me to list, but the most common are Scene Study, Cold Reading, Audition Technique, Improv, and On-Camera Class. Duke. In the nichols hits england third column of this section, it’s the location.

Now in terms of what goes where vertically. University. Normally, you’ll have your formal and probably oldest acting education at the bottom, which is the college or drama school that you went to. Even if you think it’s the best type of training you have received, that’s usually not how casting directors and agents think. Keep the classes that you’re currently taking at the very top of nichols hits essay this section, and add “(ongoing)” right next to them. After that, list any other acting class or workshop that you’ve taken chronologically with the oldest class at the bottom of the list. Your special skills . Duke University. The least useful section of your acting resume is the one that actors truly obsess over. You don’t have to, because agents rarely even look here, unless there’s something very specific that they want from an actor. With that in mind, don’t over-complicate this part and list the examples things that you’re most proficient in. My advice for duke university phd dissertations the special skills section would be to creative essay be honest with yourself.

If you’ve only duke university strummed a guitar a few times in defend statement, your life, don’t put Guitar on there. If you’ve played basketball in phd dissertations, high school which was 10 years ago, don’t put Basketball in there. Also, don’t write down things like Running and Whistling, unless you’re a professional. Grace Hurricane. The same goes for phd dissertations listing languages. Of Great College. Over-exaggerating about your special skills used to be a thing back in the day, but in 2015, agents think this just looks dumb. “ I want all of you to look up the meaning of the word “fluent.” Make sure you understand what it means before you claim you’re fluent in university, any language. Grace Nichols Hits Essay. I’m fluent in three, and duke university phd dissertations, I always test actors when I see one of those languages listed on their resume. Care to guess how many couldn’t respond to creative writing on war a simple question in the language they’re supposed to be fluent in? ” – Secret Agent Man , Backstage.com. As you can see, agents do care and duke phd dissertations, they do their due diligence. Bottom Line : Always stick to the standard actor resume format, and don’t reinvent the wheel. Agents and casting directors should be able to scan through your resume fast.

Let me give you quick breakdown of film and writing essay, television role types. This is something every aspiring actor in Los Angeles has to know. You’ll be surprised how often you’ll soon be using these terms. Series regular – Main character(s) on the show under contract for a certain period of time, usually for the duration of the whole show/season. Phd Dissertations. Recurring – Second most important TV acting role type. These are usually signed to appear on provincial essay, the show on multiple episodes.

Guest star – Third biggest part where the character is directly involved with the plot of the university TV show, usually for a single episode, but sometimes several episodes. Co-star – A small speaking part that will only be involved in one episode for structure gcse drama a small period of screen time. Under 5 (U5) – Normally applicable only to daytime dramas where the character will have less than five lines. Lead – Protagonist. Main character of the story on duke university phd dissertations, whom the essays whole film is centered. Supporting – Secondary character which can be just as important to the film/story. Principal – A small part with spoken lines where the duke university character will usually interact with one of the above characters for a short period, but doesn’t add much to the story. Featured – A non-speaking part where the character gets enough facetime. This is not the structure same as an Extra, but sometimes Extras are promoted to Featured roles. And that wraps up the whole technical part of an actor’s resume. Please feel free to university come back to examples of great this article when you’ll need help with structuring your actor resume format.

I’ve already mentioned this, but don’t stress about not having any acting experience. Yes, it is Catch-22 where you can’t get work because you have no experience but you can’t get experience without acquiring work. Welcome to Hollywood. A) The first thing you may want to duke do is nichols essay think about whether you definitely have no experience. Maybe you’ve been in some small plays, or student films, or even indie films with your friends? List them all!

Anything where you have actually done acting can go on your resume, even if it’s a small part in a silly project. B) The next step is obvious: you need to search for opportunities to act. The easiest way to acquire some credits for duke phd dissertations your resume is to essay visit your local community college for some stage work. You can also browse through free casting websites, Craigslist, filmmaking websites and forums where people are looking for actors who would work for free. University. If you’re willing to do some work for no reward, that means you’ll find opportunities faster. C) The third thing you can do is produce something yourself. I’ve already talked about the how to letter importance for actors to create their own projects, and the earlier you start, the better. All you need is a few bucks, a smartphone with a decent camera and some time. You can gather up a couple of duke university friends, write a screenplay for a short film, shoot it on your phone and put it up on YouTube. That’s your first credit. I would advise against how to write letter buying memberships on casting websites just yet.

If this is duke university phd dissertations your first time venturing into ss 11 essay the world of performing arts, give it some time, and university, see if you even like the craft of acting before spending money. You will be surprised how quickly your resume will start growing if you dedicate some time to this, and if you’re willing to work for free. Structure Gcse. There are a lot of duke opportunities out there, especially if you move to a big city such as Los Angeles, New York City, Atlanta, Vancouver in Canada or London in gcse, England. Phd Dissertations. Once you start receiving some acting work, remove your older, “silly” credits and hurricane england, replace them with the most recent stuff. Finally, try to have fun. Duke University Phd Dissertations. People often forget about this – myself included – but it’s an integral part of succeeding as an actor. After all, don’t we all want to become actors so that we can have fun instead of how to write work? Don’t Build Your Dreams on the Promise of Luck. 5 Skills Actors MUST Adopt from Entrepreneurs.

I Got My First Actor Headshots in LA. Duke University Phd Dissertations. What Have I Learned? I'm a stage actor who moved from London, UK to Los Angeles, CA in 2013 to pursue a career in film and TV. I'm here to share my observations on show business and provide actionable advice straight from the horse's mouth for anybody else trying to become an actor in Hollywood.