The Importance of Cover Design Professionals

The Importance of Cover Design Professionals "The importance of hiring a cover design professional": An interview with Rachel Lawston The range of freelancer talent available for independent authors today is astonishing. Designer Rachel Lawston, who we interview today, is a perfect example of that. After working in-house for Penguin Random House, she is now freelance and works both for big publishers (HarperCollins) and indie authors. But is it really worth it, for an independent author with a limited budget to invest in such a talented professional for the cover design? We, at Reedsy, firmly believe it is.As we discuss in the interview, many covers out there look very similar. Self-published books are still very much stigmatised by certain spheres of the publishing industry, and that is mainly due to the quality of the books’ production (i.e. the cover, because that is the first thing you see). Rachel shares her views on that, and more, in this very insightful interview.Hi Rachel, great to have you here. You’re one of our best childrens and YA designers on Reedsy. And you’ve worked both in-hou se and as a freelancer. How did you get started in book design?Wow thank you so much, that is very kind of you to say! My first role in publishing was an assistant designer position at Walker Books. I was very lucky as I was trained by some very talented and wonderful people there and their books are so creative.You’ve worked in-house for Penguin Random House for over 3 years, and have now gone freelance. What do you reckon is the proportion of designers/editors who have done just that in the past few years? Gosh that is a tough question to answer – I honestly don’t know. I have noticed a lot of excitement and interest over the growth of new media, and different ways of working, perhaps that has caused more people to go freelance?You work both for big publishers, independent ones, and indie authors. Are there any differences in the way you approach things with these different clients? What’s your typical way of working with an indie author? I always treat every book with the same level of respect and careful attention that it needs to become the best it can be, regardless of whether it is a big publisher, independent or an indie author. Some books need more time than others, but that it is the nature of book design. Publishers and independent authors have their own very individual working styles and demands which make them exciting and a pleasure to work with.One of the nicest things about working with indie authors, is that they often take an active role in the creative process. I really enjoy working in collaboration with indie authors because the experience is so different to working with a publisher. For instance, I don’t think I can ever really explain the feeling of immense satisfaction I feel when I design a book cover for an indie author. When you directly work for an author, you witness their journey.When working with an indie author I always design a package around their individual book/series, with the their object ives and their budget in mind. If the author is based near to me, I always try to meet them (often in a bookshop!) so that we can discuss ideas, outline their aims and how they want to publish their book.I really like this sentence on your Reedsy profile: â€Å"You’ll have all the benefits of my experience, understanding of brand management, post-production and project management†. Do you think that when working with indie authors, designers have to be more than just graphic artists?Thank you! I feel it is important to support my authors as much as I am able. My experience means that I am able to offer these services.I think that the â€Å"you need an editor† message has really sunk in for most (serious) indie authors out there. However, many of them are still trying to make cuts on cover design and interior layout. Is it really worth it for an indie author with a limited budget to invest in a proper graphic design professional?Gosh, that is a tough question! I always feel very mean when I tell people about the importance of hiring a design professional, as I realise not everyone has the budget to do so.I believe that an eye-catching, well-crafted, well-designed cover increases the value of a book to readers and booksellers. A book cover should receive as much careful attention as it needs to become the best it can be, just like the text within.A professional designer will ensure you’re completely happy with your book before it goes to press because your book matters to them, and their final design reflects that.I do understand that some authors may not have the budget to pay the full fee for my services, which is why I create packages around each individual author, to suit their objectives and their budget.We discussed this in our last interview with a designer: Stewart Williams, and I’d love to have your thoughts on it: do you think there is a lack of originality in book covers out there? Are publishers/authors afraid to tr y new things in terms of design?I definitely agree with Stewarts comment â€Å"I think there’s only a small window of time in which you can emulate an idea and still be successful. The rest of the time you’ve got to try something different. It is a risk, and although people have to take risks, they usually don’t want to be the first one.†I think it’s very important to be the first rather than the second! The last thing an author wants, if for their book to be lost amongst similar looking books!Do you prefer working directly with the author (and the author only), or working under the structure of a traditional publisher and interacting with the author, the editorial team, the marketing department, etc.?I love variety. One of the best things about being a freelancer is the diversity of work. I enjoy working with both indie authors and publishers equally!How do you see the future of children’s book publishing? Is it print books, apps, both? I s ee apps and ebooks as another format – like a hardback or paperback. I think there will always be print books.And how do you see the future of graphic design within children’s book publishing? Will designers also be formatters, app developers, or even publishers?I actually know a couple of designers who already work as publishers! One of the best things about being a designer in children’s publishing is that you are such valued part of the team.Thanks so much for taking this time for us!Follow Reedsy and Rachel on TwitterLearn more about book cover design, book layout design, typography or illustration on Reedsy. Click on our design links!Check out our Facebook page for daily posts, images, and videos on self-publishing and book marketing!How do you see the future of children’s books? Do you agree that covers out there, in general, look too similar? Do you think it is worth investing in professional cover design? Let us know your thoughts in the comments below!

Heat Capacity Worked Example Problem

Heat Capacity Worked Example Problem   Heat capacity is the amount of heat energy required to change the temperature of a substance. This example problem demonstrates how to calculate heat capacity. Problem: Heat Capacity of Water from Freezing to Boiling Point What is the heat in joules required to raise the temperature of 25 grams of water from 0 C to 100 C? What is the heat in calories? Useful information: specific heat of water 4.18 J/g ·Ã‚ °CSolution: Part I Use the formula q mcΔTwhereq heat energym massc specific heatΔT change in temperatureq (25 g)x(4.18 J/g ·Ã‚ °C)[(100 C - 0 C)]q (25 g)x(4.18 J/g ·Ã‚ °C)x(100 C)q 10450 JPart II4.18 J 1 caloriex calories 10450 J x (1 cal/4.18 J)x calories 10450/4.18 caloriesx calories 2500 caloriesAnswer:10450 J or 2500 calories of heat energy are required to raise the temperature of 25 grams of water from 0 C to 100 C. Tips for Success The most common mistake people make with this calculation is using incorrect units. Make certain temperatures are in Celsius. Convert kilograms to grams.Be mindful of significant figures, particularly when working problems for homework or an exam.

One Legal Stop Essay Example | Topics and Well Written Essays - 1000 words

One Legal Stop - Essay Example Subsequent questioning reveals that the subjects are offering conflicting statements regarding their presence in the area, and the officers arrest the suspects for loitering and prowling. A search of the vehicle reveals that it contains stolen property from the robbery. Reasonable Suspicion. While police officers have no right to harass or detain citizens without probable cause, they do have broad latitude in deciding if individuals at a particular scene may be questioned when circumstances warrant a reasonable suspicion that a crime has been committed. There are two things that contribute to a justifiable cause for reasonable suspicion; the actions taken by individuals when they see police officers and the areas in which they are located when they encounter law enforcement. When a person runs from the police while in a dangerous area, the officers have a duty to investigate. The United States Supreme Court has specifically stated that "mere flight is not enough to create 'reasonable suspicion,' but...when the flight is 'unprovoked' and can be shown to have taken place in a 'high crime area,'" an officer is justified in stopping and frisking the individual (Williams, 2000, p. 381). In fact, the Chief Justice wrote that "[h]eadlong flight-wherever i t occurs-is the consummate act of evasion: it is not necessarily indicative of wrongdoing, but it is certainly suggestive of such" (Williams, 2000, p. 381). In this case, the officers were patrolling a high-crime area after news of a robbery. When the four subjects saw the officers, they immediately got into their car and drove away. This act of evasion, combined with the location of the activity, gave the officers completely reasonable suspicion of the need to investigate further. Their pursuit of the individuals was proper and legal. Reasonable Officer Conduct. Police officers are vested with significant authority over citizens. With that power comes the responsibility to act lawfully and reasonably. When police officers act reasonably and in good faith, they have latitude in the evidence they discover. The law says that any evidence uncovered by an illegal search is not admissible in a court of law. The reason for this rule is to "deter unconstitutional police conduct" (Feinman, 2000, p. 315). It must be noted, however, that even if the police do conduct an unreasonable or unlawful search, the evidence they uncover is still useable in the prosecution of the suspect if the police believed they were acting lawfully. Feinman goes on to point out that when police officers find evidence "in a good faith belief that their acts are constitutionally permissible, the criminal process should not be denied the benefits of using the evidence" (2000, p. 315). Here, the police officers acted reasonably and appropriately. Havi ng encountered the suspects loitering in a high-crime area, then seeing them attempt to evade, the officers made a legal stop. During the course of speaking with the subjects, the officers attempted to discover the truth of why the suspects were in the area. As discussed below, the search of the suspect's

Philosophy - Social Justice Essay Example | Topics and Well Written Essays - 1000 words

Philosophy - Social Justice - Essay Example This is because the definitions vary basing on a variety of factors, like political factors, religion, and the social philosophy. From a postmodernist point of view, one can get a definition that is only a concept that may never be practical anywhere in life. In general, Boylan (p. 91) writes that social justice is more of equal justice, not only in the judicial system, but in all other aspects of the society. From this concept, we can say that social justice demands equal rights and opportunities for everyone regardless of the social status. Therefore, we can sum up by saying that social justice is an idea which involves fashioning a society or an institution basing on the principles of equality and solidarity. This system understands the values of human rights with recognition of every individual’s dignity. Generally, social justice bases on the concepts of human rights and equality. It also involves economic egalitarianism. This is through progressive taxation, and redistri bution of property and income. Through such policies, it is easier to attain equality in opportunity, hence creation of outcome equality. In order to create a just society from the perceptive ‘privileged society’, where not every individual has equal opportunity to enjoy the freedom that people share, one must be ready to learn more about the issues of social justice like tolerance, equity and diversity promotion, and fighting hatred, among others. It is easier to act after educating oneself about the issues of social justice. Secondly, it is not easy to achieve the social justice that on desires without incorporation from the general society. It is, therefore, imperative to get help from the general people in the society. Joining a social justice group, which will stand up to hatred in all forms, will engage the community in a process that will build the society towards respectful, safe and fair environment. With this, one will get the support that will help in creatin g a firm foundation towards achievement of the just society (Boylan, p. 93). One must understand that they can not come up with a just society without learning from others. This is because a just social system recognizes all forms of diversity, be it cultural, economic or any other form. Therefore, it is important for one to learn to leverage the benefits of diversity surrounding them. One can expose themselves to other cultures, eat and intermingle with other people in the society, read about different cultures, subscribe to other cultures and open ones mind to diverse perspectives around them. Through this, one will learn about the challenges that they will have to overcome in order to justify all the social needs in the diversity among the people in the society. It is also important for one to take challenges, like asking oneself if the immediate friends reflect what a just society is. One can ask themselves if friends around portray the diversity of genders, races, cultures, age s, political affiliations, and any other relevant aspects of diversity. In order to achieve a perfect framework of social justice, one must open the mind and heart to experience people with other perspectives and insights that will or may be challenging, while some may be interesting. Such diversification will eradicate issues of discrimination and will ensure achievement of a liberal society. A perfect view of a just society will have socially responsible

Literacy as foundation for lifelong learning Essay Example for Free

Literacy as foundation for lifelong learning Essay Literacy is a fundamental human right and the foundation for lifelong learning. The innovation of writing is one of mankind’s useful creations, it is more than the ability to read and write it’s also the ability to understand what you’re reading and what makes sense in what you’re writing. A person who cannot read and understand sentences, which cannot interpret and cannot write, is called an illiterate person. Illiteracy is the inability to read and write. Literacy makes a person more confident, ambitious and successful in life. Persons with a good education tend to be more confident and ambitious than those who are illiterate. Literacy is thought to have first emerged with the development of numeracy and computational devices. It increases job opportunities and access to higher education; it helps in the economic growth and development of a country. Increases Vocabulary Reading increases your vocabulary, it help persons to learn new words and improves their spelling, the more you read, the more words you gain exposure to and they will inevitably make their way into your everyday vocabulary. Reading also helps in your talking skills. It helps you understand different ways of life and expands your imagination. Stress Reduction A well-written novel, play or newspaper will distract you and keep you in the present moment, letting tensions drain away and allowing you to relax. Reading is a wonderful source of pleasure for many people, and can provide a healthy escape from routine. Mental Stimulation Reading helps to keep the brain active, us like every other muscles in the body, and the brain requires exercise to keep it strong and healthy. Reading prevents the brain from Alzheimer’s and Dementia. Better writing skills This goes hand-in-hand with the expansion of your vocabulary: exposure to published, well-written work has a noted effect on one’s own writing, as observing the cadence, fluidity, and writing styles of other authors will invariably influence your own work. Tranquility In addition to the relaxation that accompanies reading a good book, it’s possible that the subject you read about can bring about immense inner peace and tranquility. Reading spiritual texts can lower blood pressure and bring about an immense sense of calm, while reading self-help books has been shown to help people suffering from certain mood disorders and mild mental illnesses.

Symbolism in Chapter 17 of Chopin’s The Awakening :: Chopin Awakening

Symbolism in Chapter 17 of Chopin’s The Awakening The end of Chapter 17 in Chopin’s THE AWAKENING offers a richly compressed portrait of a woman desperate to break through the bonds of domesticity and embark into the unknown. The passages (pages 74 and 75) immediately follow the dinner scene in which Edna first announces to Là ©once that she will longer observe the ritual of Tuesday reception day. After Là ©once departs for the club, Edna eats her dinner alone and retires to her room: â€Å"It was a large, beautiful room, rich and picturesque in the soft, dim light which the maid had turned low. She went and stood at an open window and looked out upon the deep tangle of the garden below. All the mystery and witchery of the night seemed to have gathered there amid the perfumes and the dusky and tortuous outlines of flowers and foliage. She was seeking herself and finding herself in just such sweet half-darkness which met her moods. But the voices were not soothing that came to her from the darkness and the sky above and the stars. They jeered and sounded mourning notes without promise, devoid even of hope. She turned back into the room and began to walk to and fro, down its whole length, without stopping, without resting. She carried in her hands a thin handkerchief, which she tore into ribbons, rolled into a ball, and flung from her. Once she stopped, and taking off her wedding ring, flung it upon the carpet. When she saw it lying there she stamped her heel upon it, striving to crush it. But her small boot heel did not make an indenture, not a mark upon the glittering circlet. â€Å"In a sweeping passion she seized a glass vase from the table and flung it upon the tiles of the hearth. She wanted to destroy something. The crash and clatter were what she wanted to hear.† The scene neatly encapsulates Edna’s rage at being confined in the domestic sphere and foreshadows her increasingly bold attempts, in subsequent chapters of the novel, to break through its boundaries. At first glance, the room appears to be the model of domestic harmony; â€Å"large,† â€Å"beautiful,† â€Å"rich† and â€Å"picturesque,† it would appear to be a welcoming, soothing haven for Edna. However, she is drawn past its obvious comforts to the open window, a familiar image in THE AWAKENING. From her vantage point in the second story of the house, Edna (who at this point in the narrative is still contained by the domestic/maternal sphere – she is â€Å"in† and â€Å"of† the house) gazes out at the wider world beyond.

World Wide Fund for Nature

There are well over five thousand endangered species on Earth and humans are the cause of it. Many animals are suffering and several hundred are already extinct. Many of the most beautiful creatures are now evanescent. People are also causing the destruction of the environment, which is home to millions of animals worldwide. Through poaching and obliteration of nature, humans have managed to diminish the very place they call home. There are charities such as the World Wide Fund for Nature with the motive to halt and reverse the annihilation of the environment.The international organization World Wide Fund for Nature works on issues regarding conservation, research, and restoration of the environment. The WWF was formed on April 26, 1961, when a small group of passionate individuals had the idea of building a future where humans live in harmony with nature. Their mission was to preserve the planet’s resources, reduce pollution, and conserve the world’s life diversity. Th e WWF’s original name was World Wildlife Fund and was later changed to World Wide Fund for Nature.The panda has become the logo for WWF because it was an endangered species and served as a strong recognizable symbol that was adored by many people in the world for its appealing characteristics. Originally, their aim was to protect the wildlife species and habitat. Today, organization has grown to repopulating several different species worldwide and seeks to didactically educate people on how to have a more ecologically friendly lifestyle.The World Wide Fund for Nature is the world’s leading environmental conservation organization with a global reach of one hundred different countries. They help protect endangered animals and their habitats. The WWF does this by collaborating with businesses, governments, local communities, and other organizations to secure funds and ensure the safety of wildlife. They focus on the underlying causes of environmental deterioration.The ent ire planet depends on organizations such as this, and without it, the nature living on it would continue to be whittled down by apathetic people until it is too late. Humans will soon become their own nemesis, unless they show some solicitude, and be a partisan in restoring the planet. The WWF, with over one million members in the United States and nearly five million worldwide, is one of the most impactful charitable organizations in history. The WWF gives hope to the future of the environment and fixes the problems that previous generations have caused.Because of this organization, the earth’s environment’s status has drastically improved. They are bringing back the serene environment, and shielding the forlorn animals that inhabit it. The World Wide Fund for Nature is a very impactful charitable organization that aids in restoring the planet’s environment and saves the lives of animals that are in need. The international organization World Wide Fund for Natur e works on issues regarding conservation, research, and restoration of the environment.

Fate vs. Freewill – Romeo and Juliet

Till one of their choices they make brings an end to the both of them. Ultimately, Shakespeare Is showing us In the play that we are humans all act on our own freewill. When Romeo goes to the Caplet party, it was pretty obvious that he made the choice to go himself. Romeo knew it wasn't right to go to his enemy's party and he knew that if he got caught then things won't end well. Romeo was imagining all the bad things that happen If he went in and to back It up he told Mercuric about the dream he had. The dream was about something bad happening. Like for example: his death.Nobody forced Romeo to in to the Caplet party. He made the decisions himself. Fate kind of played a part warning him that it, might not be safe going to the party. But Romeo has a mind of his own and his mind made the choice to go and Just ignore the warning. After the party and when Romeo and Juliet meet, they fell In love and decided to get married. It wasn't an arranged marriage, It was pretty straight-forward t hat they both wanted to be with each other. Their plan was to be married at Friar Laurence ell without anyone knowing, the only exception was the Nurse and Friar Laurence. If thy bent of love be honorable. Thy purpose marriage, send me word to-morrow, By one that I'll procure to come to thee, Where and what time thou wilt perform rite. † (Shakespeare, 95) Romeo and Juliet decided themselves that they were going to get married to each other, knowing that their parents would not approve. Fate did not bring them to this decision. It was the act of freewill that bought them to come to this decision. After the marriage Romeo gets banished and Juliet decides to â€Å"take† her life so she an be with Romeo.She finds out she is to marry Paris (after she already married Romeo) and she doesn't want to. She then seeks help from Friar Laurence at his cell and then threatens to really kill herself If he does not help. He then gives her fake poison so she may appear dead and then he will send for Romeo to come and be there for when Juliet wakes up. She was very skeptical about taking the fake poison because she wondered if it was real poison and she had so many thoughts about the plan and how it might not work. She was right, the plan went awry and didn't very well. Tell me not, Friar, that thou hearts of this, unless thou tell me how I may prevent It. If In thy wisdom thou cants give no help, Do thou but call my resolution wise, And with this knife I'll help It presently. † (Shakespeare) It was pretty clear that Gullet 010 not want to marry earls, so seen desperately made ten console nearest to Take her death. There were other options that she could've have chose from. Like for example: marry Paris instead and forget about Romeo because no one else knew bout her marrying Romeo.But she decided to take it to an extreme because she loves Romeo that much. Through all the conflict that happened within Romeo and Juliet shows us that fate does not set a road fo r us to take and that freewill gives us choices that we have to make ourselves. We as humans all act on our own freewill, we make choices; some are good and some are bad. This is probably why the play: Romeo and Juliet is relevant to today's lifestyle. We as humans live our lives learning from the choices and decisions that we make.

Julius Casear

Julius Casear Background Julius Caesar was born on the 13th day of the month Quintilis or July in the year of 100 B.C. His full name was Gaius Julius Caesar, the same as his father. Gaius was his given name and Julius was his surname. Caesar was the name of one branch of the Julian family. It's original meaning was "hairy." Caesar's family was not prominent, but they claimed to be descended from Venus. In spite of that fiction, Caesar was well connected through his relatives and received some important government assignments during his youth.Among other projects, he was sent to bring back a fleet of ships from Nicomedes IV of Bithynia. He was also honored for bravery at the siege of Mytilene when he was only twenty years of age.Several years later he left Rome to study in Rhodes but was captured by pirates. His relatives paid a ransom and Caesar was return.Bust of Julius Caesar from the British MuseumHe then hired private troops to capture the pirates, and had them executed. Going on to Rhodes, hi s studies were soon interrupted by the outbreak of war with Mithradates VI of Pontus in 74 B.C. Caesar again gathered a force and fought in that war.Caesar held a bunch of lower level political offices before becoming a Roman consul in 59 B.C. He then made an alliance now known as the "First Triumvirate" with two strong military leaders, Pompeii and Crassus. This First Triumvirate was very important in Rome's history.When Crassus died the two remaining triumvirs were at each other's heads. Pompeii had an army in the southern part of the Italian peninsula, including Rome. Caesar was in charge of an army in the north. He took his army across the Rubicon River (the dividing line between their regions) and there by started a...

Wayside and Waste Side

Wayside and Waste Side Wayside and Waste Side Wayside and Waste Side By Maeve Maddox One of the many meanings of the English noun way is, â€Å"a thoroughfare used or designed for traveling or transportation from place to place.† Roman legions travelled along the Appian Way. Shakespeare’s Autolycus sang, Jog on, jog on, the foot-path way, And merrily hent the stile-a: A merry heart goes all the day, Your sad tires in a mile-a. The Winter’s Tale, IV.3. Even now we drive along highways and perhaps hike along byways. The land that runs along these â€Å"ways† is called the wayside. The expression â€Å"to fall by the wayside† probably came into English from the parable of the sower: A sower went out to sow his seed: and as he sowed, some fell by the way side; and it was trodden down, and the fowls of the air devoured it. Luke 8:5, KJV. The idea is that anyone or anything that â€Å"falls by the wayside† has failed to accomplish its purpose. Nowadays, speakers who don’t seem to know the word wayside talk about â€Å"falling by the waste side.† Like those who still say wayside, they are referring to the area along a road or highway, butdoubtless because of all the litter that accumulates therethe eggcorn â€Å"waste side† makes sense to them. The expression has made its appearance in pop lyrics: When you got big dreams, keep your eyes on the prize Dont fall to the waste side, reach for the sky Dont bother wasting my time, you’re falling down by the waste side. Falling down by the waste side It’s not just songwriters who are mixed up: Senator [Royce] West added that, It was not his intent or those members who have coauthored SB 1419 and those who lent their efforts to the creation of this bill, to attempt to maintain or increase the pool of eligible applicants for admissions, admit them, and then have them fall by the waste side. From the Office of State Senator Royce West, District 23 (Texas). Note: Carpenters aptly talk about the â€Å"waste side† of a saw blade. It’s the side away from a section of wood being cut. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:16 Substitutes for â€Å"Because† or â€Å"Because Of†Does "Mr" Take a Period?The Difference Between "Un-" and "Dis-"

Water incident Essay Example | Topics and Well Written Essays - 750 words

Water incident - Essay Example The company is no stranger to such incidents. It has been part of all major oil disasters in thee US for the last five years (Lustgartern). Since the explosion in the deep water rig causing death to 11 persons on April 20, 2010, the oil spill has continued to claim the lives of wild life; it has seriously threatened the travel and tourism plans of the region as well as affected the culture of the gulf coast. The oil rig that cme into causing an accident in the Gulf coast, The deep water horizon was a nine year old rig having a semi submersible mobile drilling unit.and a dynamic positioned drilling rig. The company has taken this rig on lease from Transocean. At the time of explosion, the rig was drilling an exploratory well at a depth of nearly 5000 feet under water The incident occurred on April 20 2010 at approximately 9.45pm. gas from the well under high pressure shot up and out of the well triggering into a huge explosion. Efforts made my ships to bring down the fire proved unsuccesful. The fire lasted for nearly 36 hours after which the platform sank to the deep waters. The spread of the oil was very rapid due to the strong southernly winds that was caused by the impending cold front. Five days from the blast, the spill spread to nearly 580 square miles. And was near to the ecologically sensitive Chandeleur Islands. By April 30, the spread widened to approximately 3850 square miles. The spill reached the Delta national wild life refuge and Bretton national wild life refuge. . By May 19 the spill reached the Loop current which flows around the Gulf of Mexico. It was found that about 35% of the oil leaked would evaporate, 50% will remain in the water and the rest would be dissolved in the ocean. It was also estimated that most of the oil would be floating within one foot of the surface of the water causing serious environmental damage to all living organisms. The

International finance Essay Example | Topics and Well Written Essays - 500 words

International finance - Essay Example By actually knowing the exchange rate of the other currency (one year from the base year), banks and individuals earn an effective interest rate rather than the simple interest rate that would have been earned if the funds are left deposited in the bank. Using the theory of purchasing power parity, explain how inflation impacts exchange rates. Based on the theory of purchasing power parity, what can we infer about the difference in inflation between Ireland and the USA during the year your lottery winnings were invested? First, in order to explain how inflation impact exchange rates, it is necessary to define purchasing power parity. The Dictionary of Economics defines purchasing power parity as â€Å"a theory which states that the exchange rate between one currency and another is in equilibrium when their domestic purchasing powers at that rate of exchange are equivalent†. Since after one year, the rate of exchange became US$1 = Euro 1.30, there was a 4 per cent inflation in Ireland which caused a devaluation in their exchange rate. The inflation rate was computed as follows: (1.30 – 1.20)/1.20. While there was no mention of any change in exchange rate in the US, it can be inferred that there was no inflation increase. Therefore, the value of its currency remained the