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Extra info for Automated Versus Floor Trading An Analysis Of Execution Costs On The Paris And New York Exchanges

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The emphasis on civilizations does not mean that nation-states are no longer players in Huntington’s model. Rather, the differences between civilizations will be central in defining conflicts and their motivating issues. The civilizational groupings may well draw on ‘‘common objective elements, such as language, history, religion, 26 CNN EFFECT customs, institutions, and [the] subjective self-identification of people’’ (1996: 43). Obviously, these elements are also commonly associated with nation-states.

See also: citizenship, internationalization, liberal democracy, social capital Further reading: Cohen and Arato 1992; Iriye 2004 FO CLASH OF CIVILIZATIONS The term ‘‘civilizational paradigm’’ was first used by Lewis (1990) in the field of international relations to account for and predict relationships between nations. It was brought into broader usage by the historian Huntington (1993). It is used in international relations to refer to a way of interpreting balance of power and potential risks. With the Cold War over (which was essentially based on a clash of political ideologies), Huntington argues that in the future international relations will be explicable in terms of cultural (or civilizational) clashes.

2005) show that while there was some attempt at censorship, it was primarily the journalists themselves who decided what kinds of images were appropriate for British television. In terms of objectivity and reliability, the new ‘‘genre’’ of news reporting seems no different to current forms. The second meaning is current in economic circles and refers to the tendency of people to stay at home and watch CNN (or other similar news programs) during any crisis, typically a war. The result of 28 COLLECTIVISM this, at least in part, is a downturn in consumer spending.

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