http://www.economist.com/business/displaystory.cfm?story_id=12638642
Summary
Will GM, Chrysler and Fords declare bankruptcy? This is only going to happen if banks don’t give them a lending hand and loan them some money. But luckily, they’re in luck, the directors of European Investment Bank and the Europeans Unions are considering of giving them a soft loan. If they don’t receive the loan, GM will not be able to pay for the bills and will have to declare bankruptcy. The Detroit Three are helping them out. They are planning and feel really confident that they are able to convince the Senate to pass a bill, to receive extra finance so that it will help them out a bit. So now they have 2 options, one is to allow the Europeans to help them out, or hope that the bill will pass next year.
Connections
If GM, Chrysler and Fords don’t receive financial help soon, it will mean that they will have to declare bankruptcy. But if the government comes in and helps them financially, they will be able to continue and produce goods. If any of these car makers does decide to declare bankruptcy it will cause fluctuations in economic activities. The employment rate would go down, and people wouldn’t be able to purchase goods anymore which would cause the economics to drop even more! Also all these car makers are known to be invisible hands, if they don’t continue on, there will be no cars sold anymore because these big companies are planning to declare bankruptcy. So perhaps it is better if the governments comes in and give them a helping hand and make it so it is a natural monopoly or help them out financially.
Personal Reflection
I personally believe that GM, Chrysler and Fords should not declare bankruptcy and even if they do, then who will be supplying us with the cars? Where will be getting our cars from then? Would we get it from some other car makers that are not from our country? Wouldn’t it be better if we help our own country, rather than some other country? I think we should take the risk and hope the Senate will pass the bill for receiving extra finance for the car makers. But in the mean time if the European Investment Banks and Europeans Union do decide to help us, we should accept their loan and pay them back ASAP when the bill is passed. That way we’re not completely helping another country all the way and we’re making US better as well!
Sunday, November 23, 2008
Tuesday, October 28, 2008
http://www.expressindia.com/latest-news/water-crisis-looms-bmc-to-cut-supply-to-new-buildings-by-half/378391/
Water Crisis Looms, BMC to cut supply to new buildings by half
Summary
This article talks about how in Mumbai, water supply is running low because new buildings are using more water than needed. With all the Jacuzzi and swimming pools the budget for water is running even lower! So they made a new rule for each person in Mumbai, each person is only allowed to use a certain amount of water each day. If you use more than that amount you will be penalized. The BMC also got granted to for new connections on humanitarians ground. The article also talks about the city’s daily consumption of water and the amount of water that should have been being used.
Relation
Water being cut down in this article shows what we call supply and demand! The less water there is the more demand for it there is. Water is an essential item for life, so of course the demand for it, is high. It doesn’t matter is the price high for it, because people will still buy it. This article shows elastic demand because there is a change in demand which causes the quantity of demand to increase. The more they restrict the water usage the more water people would want to use.
Opinion
In my opinion I believe what they’re doing right now is not a bad idea. It is actually quite a good idea, a great way of trying to preserve water. Limiting the amount of water people are able to use and if they go overboard they get penalized is a great way of teaching people a lesson. Being penalized and learning a lesson, the chances of people doing that again are low. People are learning slowly on how they can preserve the natural things we need in life.
Water Crisis Looms, BMC to cut supply to new buildings by half
Summary
This article talks about how in Mumbai, water supply is running low because new buildings are using more water than needed. With all the Jacuzzi and swimming pools the budget for water is running even lower! So they made a new rule for each person in Mumbai, each person is only allowed to use a certain amount of water each day. If you use more than that amount you will be penalized. The BMC also got granted to for new connections on humanitarians ground. The article also talks about the city’s daily consumption of water and the amount of water that should have been being used.
Relation
Water being cut down in this article shows what we call supply and demand! The less water there is the more demand for it there is. Water is an essential item for life, so of course the demand for it, is high. It doesn’t matter is the price high for it, because people will still buy it. This article shows elastic demand because there is a change in demand which causes the quantity of demand to increase. The more they restrict the water usage the more water people would want to use.
Opinion
In my opinion I believe what they’re doing right now is not a bad idea. It is actually quite a good idea, a great way of trying to preserve water. Limiting the amount of water people are able to use and if they go overboard they get penalized is a great way of teaching people a lesson. Being penalized and learning a lesson, the chances of people doing that again are low. People are learning slowly on how they can preserve the natural things we need in life.
Thursday, September 25, 2008
Water for Farming, Running Dry
Summary
Thought water could never run out? A resource that can last forever? Well you're wrong! Improper use of water can lead to a shortage of water. In this article it talks about the way people are using water like it is a natural resource that won't ever run out. In recent studies it shows that there is a growing population of farmers, which causes more water loss then ever! Farmers use more water in their farming then the amount of people drinking it. Abundant amount of water the farmer uses to water their crops, doesn’t even get through to their crops and if they do it ends up flooding their crops the water that doesn’t goes through their crops ends up going to leaky irrigations or to lakes.
Connections
In this chapter it talks about the concept of scarcity and how we can resolve the problem through production possibilities curves. In one city they decided to use a fixed allocation of water income for each family whether they use it or not. However if the family does decide to use it for their farming, it would be referred as the opportunity cost. Farmers are now using the production possibilities curve to answer they’re question. If they were to use the right amount of water, with good seeds and fertiliser, they would be saving water instead of losing water and not using it sufficiently. Or the other option would be to give up meat and other thirsty products all together.
Personal Reflection
This articles in a way wakes me up and reminds me that we're running out of water, but at the same time it doesnt. Farmers should start using their water more efficiently. The possibilities to saving water might actually work and we won’t have to give up meat and other thirsty product all together. Besides I don’t think us human beings would be able to give up meat and other thirsty products. Also the water that doesn’t goes towards crops and goes towards lakes doesn’t actually make a huge difference because eventually it gets evaporated back into the sky and water. So in a way we are not losing abundance of water, we’re just not recycling it properly. Which makes it seem like we’re wasting water.
Thought water could never run out? A resource that can last forever? Well you're wrong! Improper use of water can lead to a shortage of water. In this article it talks about the way people are using water like it is a natural resource that won't ever run out. In recent studies it shows that there is a growing population of farmers, which causes more water loss then ever! Farmers use more water in their farming then the amount of people drinking it. Abundant amount of water the farmer uses to water their crops, doesn’t even get through to their crops and if they do it ends up flooding their crops the water that doesn’t goes through their crops ends up going to leaky irrigations or to lakes.
Connections
In this chapter it talks about the concept of scarcity and how we can resolve the problem through production possibilities curves. In one city they decided to use a fixed allocation of water income for each family whether they use it or not. However if the family does decide to use it for their farming, it would be referred as the opportunity cost. Farmers are now using the production possibilities curve to answer they’re question. If they were to use the right amount of water, with good seeds and fertiliser, they would be saving water instead of losing water and not using it sufficiently. Or the other option would be to give up meat and other thirsty products all together.
Personal Reflection
This articles in a way wakes me up and reminds me that we're running out of water, but at the same time it doesnt. Farmers should start using their water more efficiently. The possibilities to saving water might actually work and we won’t have to give up meat and other thirsty product all together. Besides I don’t think us human beings would be able to give up meat and other thirsty products. Also the water that doesn’t goes towards crops and goes towards lakes doesn’t actually make a huge difference because eventually it gets evaporated back into the sky and water. So in a way we are not losing abundance of water, we’re just not recycling it properly. Which makes it seem like we’re wasting water.
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