1) My destination in life is to be a professional musician as well as a mathematical engineer. To reach this destination, I must successfully pass school in the required classes to go into the field. Some "rough waters" may include school, family, or friend issues. I would over come them by just continuing to try my hardest.
2) The idea/ belief/ an ideal the I will not surrender is that I can make or create anything with hard work and determination. My idea/ belief/ an ideal keeps me unable to surrender it because of my interest to keep trying and my pretty ridiculous imagination.
3) This school year is, in many ways, hard to explain. Good and Bad all over the place. Most of the bad began when a group (Justin R, Jordan F, Steven S, etc...) began to be punks to me. I am not sure why, however they were nice to me last year. I believe it is a popularity thing. Anyhow, the good portion of this year was about the whole year. I had great and fun teachers, and a great time. I made even more friends which is sort of surprising, considering I am a "band geek."
Music Power!!!!
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Thursday, May 19, 2011
Monday, May 2, 2011
April Blog
Before Tomorrow by Gowe
The song, Before Tomorrow is a tribute to those victims of Japan's Earthquake. The song lyrics follow: Verse 1
This is written for the victims of the earthquake
Trapped in a building stay trembling when the earth shakes
Could be my birthplace, or my house too
Rebuilding of my life without a how to
And so im tasteless, cause I don’t taste it
Face glued to the tube then erase it
Blame it on the races or the past invasions
Of my home continent instead of human relations
Post in my status, inside im careless
With a couple thousand of miles apart I feel fearless
And see its not me, and so I feel fine
Put it in the backburner have a great time
But that lacks effort with bad track record
instead of back tracking we should really act faster
And keep after, we keep praying
And start to take action instead of just saying…
Trapped in a building stay trembling when the earth shakes
Could be my birthplace, or my house too
Rebuilding of my life without a how to
And so im tasteless, cause I don’t taste it
Face glued to the tube then erase it
Blame it on the races or the past invasions
Of my home continent instead of human relations
Post in my status, inside im careless
With a couple thousand of miles apart I feel fearless
And see its not me, and so I feel fine
Put it in the backburner have a great time
But that lacks effort with bad track record
instead of back tracking we should really act faster
And keep after, we keep praying
And start to take action instead of just saying…
Hook -
If I could make it all a dream a dream a dream
Without the pain and suffering I seem to see
If we could walk alone, the places I would go
When this is gone, before tomorrow
If I could make it all a dream a dream a dream
Without the pain and suffering I seem to see
If we could walk alone, the places I would go
When this is gone, before tomorrow
Verse 2 -
I got a daughter,
She was laughing when I pushed her on a swing
Before the we both felt disaster
A second after,
Like a bad backlash in a fat crash
Pedal on the gas faster
I heard laughter,
Then I heard a wave crash,
Seeing glass float around my feet like ASAP
I couldn’t really think or fully comprehend
And So I grabbed her by the hand in AN attempt
to flee the land
As I’m Running through the sand,
I see a house fall, sky scrapers on the verge of falling how tall
A bunch of rubble with a stream of blood around it
I tried to hide her eyes, but inside I couldn’t stomach
so close that I could touch it, and I could breathe it
The smell of death crept inside my chest felt bulimic
The sight of body parts scattered laying in the streets
Im praying for the weak, hoping this is just a dream dream dream
She was laughing when I pushed her on a swing
Before the we both felt disaster
A second after,
Like a bad backlash in a fat crash
Pedal on the gas faster
I heard laughter,
Then I heard a wave crash,
Seeing glass float around my feet like ASAP
I couldn’t really think or fully comprehend
And So I grabbed her by the hand in AN attempt
to flee the land
As I’m Running through the sand,
I see a house fall, sky scrapers on the verge of falling how tall
A bunch of rubble with a stream of blood around it
I tried to hide her eyes, but inside I couldn’t stomach
so close that I could touch it, and I could breathe it
The smell of death crept inside my chest felt bulimic
The sight of body parts scattered laying in the streets
Im praying for the weak, hoping this is just a dream dream dream
Hook -
If I could make it all a dream a dream a dream
Without the pain and suffering I seem to see
If we could walk alone, the places I would go
When this is gone, before tomorrow
If I could make it all a dream a dream a dream
Without the pain and suffering I seem to see
If we could walk alone, the places I would go
When this is gone, before tomorrow
Verse 3 -
The worst case situation, we know and do nothing
We let our days past acting like we know nothing
And keep moving like we see a brother losing
Blood on the sidewalk, let me get white chalk
Thinking one minute that im proud of my community
For calling out a racist, uproar, unity
Ching chong ling feels like a public enemy
But then I see the news, and what the numbers telling me
Take a back seat, the false it pretends to be
Nuclear reactor, oh an epiphany
See now its real, because it starts effecting me
Let me make a phone call, homeland security
This isn’t ‘they are’, a student or a racist
This is ‘we are’, a nation and the faceless
Staring in the face a tragic moment in time
I come with open arms, your struggle is mine
The worst case situation, we know and do nothing
We let our days past acting like we know nothing
And keep moving like we see a brother losing
Blood on the sidewalk, let me get white chalk
Thinking one minute that im proud of my community
For calling out a racist, uproar, unity
Ching chong ling feels like a public enemy
But then I see the news, and what the numbers telling me
Take a back seat, the false it pretends to be
Nuclear reactor, oh an epiphany
See now its real, because it starts effecting me
Let me make a phone call, homeland security
This isn’t ‘they are’, a student or a racist
This is ‘we are’, a nation and the faceless
Staring in the face a tragic moment in time
I come with open arms, your struggle is mine
Hook -
If I could make it all a dream a dream a dream
Without the pain and suffering I seem to see
If we could walk alone, the places I would go
When this is gone, before tomorrow
If I could make it all a dream a dream a dream
Without the pain and suffering I seem to see
If we could walk alone, the places I would go
When this is gone, before tomorrow
vvvvvvvvvvvThe song by Gowe talks about the struggles not only in Japan but in America. Gowe speaks to people that we Americans need to take matter into our own hands. We need to help Japan back to better condition. This was earthquake was a horrific event for 2011. The artist stresses that we need to become active and do progressive work to help Japan.
Tuesday, February 1, 2011
January Blog
PART 1
(BVMTV)
1.) As I walk through the valley of the shadow of death
I take a look at my life and realize there's nuttin left
Cause I've been blastin' and laughin so long that
Even my ma'ma thinks that my mind is gone
But I ain't never crossed a man that didn't deserve it
Me, be treated like a punk, you know that's unheard of
You better watch how you talkin, and where you walkin
Or you and your homies might be lined in chalk
I really hate to trip, but I gotta loc'-
As they croak I see myself in the pistol smoke, fool
I'm the kinda G the little homies wanna be like
On my knees in the night
Sayin prayers in the street light
(BVMTV)
1.) As I walk through the valley of the shadow of death
I take a look at my life and realize there's nuttin left
Cause I've been blastin' and laughin so long that
Even my ma'ma thinks that my mind is gone
But I ain't never crossed a man that didn't deserve it
Me, be treated like a punk, you know that's unheard of
You better watch how you talkin, and where you walkin
Or you and your homies might be lined in chalk
I really hate to trip, but I gotta loc'-
As they croak I see myself in the pistol smoke, fool
I'm the kinda G the little homies wanna be like
On my knees in the night
Sayin prayers in the street light
That being a gangsta, you are no longer happy with your life and everybody treats you like a punk that is brainless.
(BVMTV)
(BVMTV)
2.)We been spending most our lives living in a Gangsta's Paradise
We been spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
That when you become a gangsta, you basically stay a gangsta.
(BVMTV)
3.) Look at the situation, they got me facing
I can't live a normal life, I was raised by the strip
So I gotta be down with the hood team
Too much television watchin' got me chasin' dreams
I'm a educated fool with money on my mind
Got my tin in my hand and a gleam in my eye
I'm a loc'ed out gangsta, set-trippin banger
And my homies is down, so don't arouse my anger, fool
Death ain't nuthin but a heart beat away
I'm livin life do-or-die-a, what can I say?
I'm twenty-three now, but will I live to see twenty-four?
The way things is goin' I don't know
So I gotta be down with the hood team
Too much television watchin' got me chasin' dreams
I'm a educated fool with money on my mind
Got my tin in my hand and a gleam in my eye
I'm a loc'ed out gangsta, set-trippin banger
And my homies is down, so don't arouse my anger, fool
Death ain't nuthin but a heart beat away
I'm livin life do-or-die-a, what can I say?
I'm twenty-three now, but will I live to see twenty-four?
The way things is goin' I don't know
Tell me why are we, so blind to see
That the ones we hurt, are you and me
That the ones we hurt, are you and me
That when being a gangsta, you spend and waste most of your life doing so and don't know when you will die.
(BVMTV)
(BVMTV)
4.)We been spending most our lives living in a Gangsta's Paradise
We been spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
That when a gangsta, you stay a gangsta for most of your life.
5.) Power and the money, money and the power
Minute after minute, hour after hour
Everybody's runnin, but half of them ain't lookin
What's goin on in the kitchen, but I don’t know what's cookin
They say I got ta learn, but nobody's here to teach me,
If they cant understand it, how can they reach me?
I guess they can't; I guess they won't
I guess they front; that's why I know my life is outta luck, fool!
Everybody's runnin, but half of them ain't lookin
What's goin on in the kitchen, but I don’t know what's cookin
They say I got ta learn, but nobody's here to teach me,
If they cant understand it, how can they reach me?
I guess they can't; I guess they won't
I guess they front; that's why I know my life is outta luck, fool!
That when you become a gangsta, you and everybody else do not care for you anymore.
(BVMTV)
6.) We been spending most our lives living in a Gangsta's Paradise
We been spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
We keep spending most our lives living in a Gangsta's Paradise
(Same as before)
(BVMTV)
7.) Tell me why are we, so blind to see
That the ones we hurt, are you and me
Tell me why are we, so blind to see
That the ones we hurt, are you and me
Tell me why are we, so blind to see
That the ones we hurt, are you and me
That when a gangsta hurts someone, it hurts them too.
PART 2
I feel that the people believe that, in the videos, are basically being torn away from their lives as their loved ones and close friends are dieing from the problems. I, myself could not stand being in that situation, with all the violence and torture. Being in the case that i would not and could not stand being in the situation, i would most likely commit suicide for I would die a more painful dead anyway. I believe committing suicide would only put more pressure on my family members but I would not be able to live in a society like that.
I feel that the people believe that, in the videos, are basically being torn away from their lives as their loved ones and close friends are dieing from the problems. I, myself could not stand being in that situation, with all the violence and torture. Being in the case that i would not and could not stand being in the situation, i would most likely commit suicide for I would die a more painful dead anyway. I believe committing suicide would only put more pressure on my family members but I would not be able to live in a society like that.
PART 3
Without guns and violence, we are forced to use different ways to solve problems, non-violent ways. (nan). "When there is a man/woman without a gun, he/she uses her thoughts to solve the problem with non-violence; as for a man/woman with a gun, he/she resorts to the weapon to solve problems." (nan). I believe that there could be a world that fights violence with non-violence. With everyone cooperating, and agreeing together, I believe we could live in a world with non-violence and peace. However, when living a non-violent life style in a violent world, I do not believe it would be easy, and most likely very dangerous. If, in a war, you don't have any weapons and you opponent has a strong weapon of today, two things could happen: you could convince the person to be non-violent or he/she could kill you on the spot. In a violent society, you would want protection against anything. "At this point in time, we are living in a very violent world." (nan).
Monday, January 31, 2011
February Blog
Part 1
1.) From the perspective of Washington, he saw the party system as distracting and serving to "enfeeble the Public Administration," and among other things kindling "the animosity of one against another." Given the fundamental disagreements in both policy and the role of government between the existing factions of his day, the Federalists and the Republicans, Washington's warning was unrealistic and idealistic. Our two-party structure today is the bedrock of our system of federal government. (Curtis)
2.) "Where is the security for property, for reputation, for life," Washington asked, "if the sense of religious obligation desert the oaths we make when we pursue justice in our courts?" In the modern secularism of America, Washington's advice is still followed in the "so help me God" portion of public oaths. (Curtis)
3.) Washington wanted no unnecessary accumulation of public debt without the revenue to back it up. This was a bit of very sound advice that we have not followed. (Curtis)
4.) In the context of the world situation during Washington's time, this was good advice, because our country was weak. In modern context, Washington could never have foreseen the forces that have made our country dependent on its treaties, alliances, energy sources, and economic ties with other countries. (Curtis)
5.) Coming from a soldier whose desperate efforts during our revolutionary struggle caused him endless frustration with a stingy, unsupported Continental Congress. Washington warned against "overgrown military establishments, which under any form of government are inauspicious to liberty." Given his own ruthless suppression of the Whiskey Rebellion this advice somehow rings a bit inconsistent, if not hypocritical (Curtis). Washington was a great soldier and indispensable leader to his country who rose to fame and glory at the precise time our young country needed him. His farewell address after his 45 years of dedicated service was well-meant and undoubtedly heartfelt. Those who followed him actually made most of his advice impossible for us to follow. (Curtis)
SUMMARY
"It serves to distract the Public Councils, and enfeeble the Public Administration.... agitates the Community with ill-founded jealousies and false alarms; kindles the animosity of one.... against another.... it opens the door to foreign influence and corruption... thus the policy and the will of one country are subjected to the policy and will of another.” Stresses the importance of religion and morality. “Where is the security for property, for reputation, for life, if the sense of religious obligation desert the oaths, which are the instruments of investigation in Courts of Justice?” On stable public credit. “...cherish public credit. One method of preserving it is to use it as sparingly as possible... avoiding likewise the accumulation of debt.... it is essential that you...bear in mind, that towards the payments of debts there must be Revenue, that to have Revenue there must be taxes; that no taxes can be devised, which are not... inconvenient and unpleasant...” Warns against permanent foreign alliances. “It is our true policy to steer clear of permanent alliances with any portion of the foreign world...” Washington is trying to point out that the party system is a distracting and serving to the enfeeble Public Administration. On that point, that with a party system, we would be distracted and all vote against each other.
Part 2
1.) "Our people expect their president and the Congress to find essential agreement on issues of great moment, the wise resolution of which will better shape the future of the nation." In his farewell address, Ike described his relationship with Congress, which was controlled by Democrats for three quarters of his presidency, as "mutually interdependent" and praised Congress for collaborating with his administration on "most vital issues." Now, isn’t that a novel idea? (LH)
2.) "Crises there will continue to be. In meeting them, whether foreign or domestic, great or small, there is a recurring temptation to feel that some spectacular and costly action could become the miraculous solution to all current difficulties." Since the terrorist attacks of 9/11, the U.S. has engaged in two land wars at the cost of more than $3 trillion(LH). Nearly 6,000 U.S. troops have given their lives to fight these wars. Yet Americans still face terrorist threats around the world and at home. Terrorist threats are used to justify spending on arms and men that have little to do with the threats(LH). Those threats will take perhaps decades to vanquish mainly through intelligence and policy work. The most important challenge we face today, fixing our economy, is another crisis that eludes any quick fix. President Obama should be more forthright with the American people about the long-term nature of this challenge. Only then will he be able to make headway in implementing the necessary long-term solutions.(LH)
3.) "Each proposal must be weighed in the light of a broader consideration: The need to maintain balance in and among national programs—balance between the private and the public economy, balance between cost and hoped for advantage—balance between the clearly necessary and the comfortably desirable; balance between our essential requirements as a nation and the duties imposed by the nation upon the individual; balance between actions of the moment and the national welfare of the future."(LH) Ike was telling us that there is no one-size-fits-all solution to fixing the U.S. economy. Only a balanced approach, including some aspects of tax reform, entitlement adjustments, and investment in intellectual and physical and infrastructure will reenergize the American economy.(LH)
4.) "As we peer into society's future, we—you and I, and our government—must avoid the impulse to live only for today, plundering, for our own ease and convenience, the precious resources of tomorrow(LH). We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage." Just ponder the $14 trillion debt that America now faces. Just think about its burden on generations to come.(LH)
5.) "In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex(LH). The potential for the disastrous rise of misplaced power exists and will persist." Adjusting for inflation, the average Eisenhower defense budget was just over $400 billion. The comparable number for FY 2010 is more than $700 billion. Another number is also worrisome: 80 percent(LH). A recent study by the Boston Globe found that during 2004-2008, 80 percent of retiring three- and four-star officers went to work as consultants or defense executives. But let’s not forget the other party with a stake in stoking the military-industrial complex. Ike originally intended to refer to the military-industrial complex as an "iron triangle"—the third and omitted part being Congress(LH).
SUMMARY
There’s a way to save Michigan taxpayers $5.7 billion without cutting a single program, eliminating any government job or touching public wages. That’s more than enough to balance the state’s budget, repeal the Michigan Business Tax, fix Michigan’s roads and still have money left over. Michigan can do all this through government employee perks parity. Compensation comes from wages and benefits like paid leave, employer-paid retirement contributions, health insurance and other benefits. In recent years, the cost of these benefits in the public sector has exploded while the private sector has been getting them under control. MI gov’t sponsored pensions were phased out 15 years ago. So the people on them are starting to die off. Current retirement benefits are 4% salary, with up to 3% match. That’s not too far off public sector. Also, state employees are constantly being hit with increases increases in copays on doctor visits, prescriptions and their plans. Not to mention the furlough days that have been passed out. Also, this year, employees got hit with a 3% “tax” to help pay for retirement benefits- basically giving back the 3% raise union employees got, and it was a hit for non-union employees who didn’t get a raise -although where they claim the money is going is an utter fabrication. The money goes to general fund, not retirement.
Tuesday, January 4, 2011
December Blog
Adam Smith
Adam Smith was born in June 1723 and died in July 1790 in Kirkland, Scotland. Adam mainly believed in four principles: freedom to try, freedom to buy, freedom to sell, and freedom to fail. (Adam) In 1776, just when the United States was growing, Adam Smith published his famous book, The Wealth of Nations. In the book, Adam said wealth is not gold and silver but the essentials of life – food, clothes, houses, transportation, communications, schools, good roads, factories, and cultivated farms. He said that if people want an increased standard of living and prosperity, goods and services should be abundant and cheap. (Adam) To make this happen, there had to be specialized production where buying and selling is done in a free market. (Adam) This “free market system” is based upon the natural law of “supply and demand." Natural law marketing, according to Adam, is democratic. Everyone improves their position by making a profit at what they are doing. (Adam) The secret to the successful operation of a free market is competition. For Adam, competition leads to greater quantity (higher production/more profits), which leads to improved quality (to attract customers), which leads to lower prices (to beat the competition), which leads to a greater variety of goods and services to satisfy customer demands. (Adam) For Adam, the greatest threat to a free market economy is government interference. This usually occurs when the government is involved in fixing prices, fixing wages, controlling production, controlling distribution, or subsidizing production. The role of government is simply to serve as a referee and to prevent illegal force, fraud (phony stocks and bonds), monopoly (make entry into the market difficult for competition), and debauchery (drugs, and other forms of vice). (Adam)
Capitalism/Free Market System
Capitalism is an economic model that calls for individual households and privately owned businesses to control the economy. (Case) The Scottish economist Adam Smith stated the basic argument for capitalism. He presented his ideas in a book called The Wealth of Nations (1776). Smith maintained that a government should not interfere with a nation's economy. Instead, a government should let individuals act as "free agents" who pursue their own self-interest. Such free agents, would naturally act in ways that would bring around the greatest good for society. They would seem to act "as if guided by an invisible hand." (Case) Businesses and households exchange labor, capital, goods and services in markets. A market is a place in which people buy and sell things. In a capitalist economy, the prices of labor, capital, and goods and services are determined mainly by market forces: supply and demand. (Case) Supply is the amount of a good or service that is offered for sale. Demand is the amount of a good or service that users can and would like to buy at alternative prices. Generally, the market will force prices to fall when supply exceeds demand. The market will force prices to rise when demand exceeds supply. (Case) Another important feature of markets is competition. Competition rises when many different suppliers try to sell the same kinds of things to the same buyers. A supplier who charges lower prices or improves the quality of his or her products can take buyers away from competitors. (Case) Capitalist economies rely on free markets, which permit people to engage in economic activities largely free from government control. Adam Smith, in his classic work The Wealth of Nations (1776), set the principles of a free-market system. (Fish) According to Smith, society benefits if individuals are allowed to pursue their own self-interest in markets where competition sets the prices that allocate goods among buyers and sellers. Smith believed that competition would, without control or direction, act “as if by an invisible hand” to determine market prices. (Fish) Many factors go into making the “invisible hand” work in a free market. Sellers prefer to sell their goods for higher prices to make more profit. Buyers prefer to pay lower prices so that they can buy more items with their income. If the sellers of a good ask too high a price, the quantity demanded of that good will be less than the quantity supplied. Sellers with lower costs who are having trouble finding buyers will compete by asking a lower price. Buyers will then be willing to buy more of the good. (Fish) On the other hand, when sellers ask too low a price, quantity demanded exceeds quantity supplied. Buyers who want the item but are having trouble buying it will then compete by raising the prices they offer. Sellers will then be willing to sell more of the good. (Fish) The competition on both sides of the market ultimately leads to a set of market prices where the quantity supplied is equal to the quantity demanded. When this occurs, the market is said to be in equilibrium. In a capitalist economy, there are numerous types of markets. (Fish) The wages employers pay to workers are set in labor markets. Real estate markets determine the rents and selling prices for houses and factories. Interest rates, which in loans represent the price of obtaining goods sooner rather than later, are set in capital markets for lending and investing. (Fish)
Auto Industry Bailout
The auto industry bailout has pros and cons. The Big Three Auto Industry (BTAI) was at it's highest point in 2004. In 2006, that highest point dropped tremendously. (Amad) The U.S. Government bailed out the industry and was a good and a bad idea. The pros of the Big Three Industry bailout was that if the BTAI gain back their wealth and thrive once again, it could and would bring the economy rising once again. The reason they fell was because the Real Estate Companies fell and had a domino effect on the BTAI. Some cons are that if the BTAI does not come back then it would fall even further dragging the economy even more down with it. People are upset that the government is using the peoples money from taxes to revive and help the BTAI when the government is not helping the people of it's own country. The BTAI bailout can be a positive action if the BTAI rises again, however, the people of the U.S. are still unhappy with this action.
Adam Smith was born in June 1723 and died in July 1790 in Kirkland, Scotland. Adam mainly believed in four principles: freedom to try, freedom to buy, freedom to sell, and freedom to fail. (Adam) In 1776, just when the United States was growing, Adam Smith published his famous book, The Wealth of Nations. In the book, Adam said wealth is not gold and silver but the essentials of life – food, clothes, houses, transportation, communications, schools, good roads, factories, and cultivated farms. He said that if people want an increased standard of living and prosperity, goods and services should be abundant and cheap. (Adam) To make this happen, there had to be specialized production where buying and selling is done in a free market. (Adam) This “free market system” is based upon the natural law of “supply and demand." Natural law marketing, according to Adam, is democratic. Everyone improves their position by making a profit at what they are doing. (Adam) The secret to the successful operation of a free market is competition. For Adam, competition leads to greater quantity (higher production/more profits), which leads to improved quality (to attract customers), which leads to lower prices (to beat the competition), which leads to a greater variety of goods and services to satisfy customer demands. (Adam) For Adam, the greatest threat to a free market economy is government interference. This usually occurs when the government is involved in fixing prices, fixing wages, controlling production, controlling distribution, or subsidizing production. The role of government is simply to serve as a referee and to prevent illegal force, fraud (phony stocks and bonds), monopoly (make entry into the market difficult for competition), and debauchery (drugs, and other forms of vice). (Adam)
Capitalism/Free Market System
Capitalism is an economic model that calls for individual households and privately owned businesses to control the economy. (Case) The Scottish economist Adam Smith stated the basic argument for capitalism. He presented his ideas in a book called The Wealth of Nations (1776). Smith maintained that a government should not interfere with a nation's economy. Instead, a government should let individuals act as "free agents" who pursue their own self-interest. Such free agents, would naturally act in ways that would bring around the greatest good for society. They would seem to act "as if guided by an invisible hand." (Case) Businesses and households exchange labor, capital, goods and services in markets. A market is a place in which people buy and sell things. In a capitalist economy, the prices of labor, capital, and goods and services are determined mainly by market forces: supply and demand. (Case) Supply is the amount of a good or service that is offered for sale. Demand is the amount of a good or service that users can and would like to buy at alternative prices. Generally, the market will force prices to fall when supply exceeds demand. The market will force prices to rise when demand exceeds supply. (Case) Another important feature of markets is competition. Competition rises when many different suppliers try to sell the same kinds of things to the same buyers. A supplier who charges lower prices or improves the quality of his or her products can take buyers away from competitors. (Case) Capitalist economies rely on free markets, which permit people to engage in economic activities largely free from government control. Adam Smith, in his classic work The Wealth of Nations (1776), set the principles of a free-market system. (Fish) According to Smith, society benefits if individuals are allowed to pursue their own self-interest in markets where competition sets the prices that allocate goods among buyers and sellers. Smith believed that competition would, without control or direction, act “as if by an invisible hand” to determine market prices. (Fish) Many factors go into making the “invisible hand” work in a free market. Sellers prefer to sell their goods for higher prices to make more profit. Buyers prefer to pay lower prices so that they can buy more items with their income. If the sellers of a good ask too high a price, the quantity demanded of that good will be less than the quantity supplied. Sellers with lower costs who are having trouble finding buyers will compete by asking a lower price. Buyers will then be willing to buy more of the good. (Fish) On the other hand, when sellers ask too low a price, quantity demanded exceeds quantity supplied. Buyers who want the item but are having trouble buying it will then compete by raising the prices they offer. Sellers will then be willing to sell more of the good. (Fish) The competition on both sides of the market ultimately leads to a set of market prices where the quantity supplied is equal to the quantity demanded. When this occurs, the market is said to be in equilibrium. In a capitalist economy, there are numerous types of markets. (Fish) The wages employers pay to workers are set in labor markets. Real estate markets determine the rents and selling prices for houses and factories. Interest rates, which in loans represent the price of obtaining goods sooner rather than later, are set in capital markets for lending and investing. (Fish)
Auto Industry Bailout
The auto industry bailout has pros and cons. The Big Three Auto Industry (BTAI) was at it's highest point in 2004. In 2006, that highest point dropped tremendously. (Amad) The U.S. Government bailed out the industry and was a good and a bad idea. The pros of the Big Three Industry bailout was that if the BTAI gain back their wealth and thrive once again, it could and would bring the economy rising once again. The reason they fell was because the Real Estate Companies fell and had a domino effect on the BTAI. Some cons are that if the BTAI does not come back then it would fall even further dragging the economy even more down with it. People are upset that the government is using the peoples money from taxes to revive and help the BTAI when the government is not helping the people of it's own country. The BTAI bailout can be a positive action if the BTAI rises again, however, the people of the U.S. are still unhappy with this action.
Thursday, November 18, 2010
Articles of Confederation Discussion Questions...
- The Articles of Confederation (AOC) were created by the Committee of 13. It created a central government with limited powers because the England King abused his power and the people were afraid of too much power within the Kings/Rulers hands. They needed a stable government.
- The key features of the AOC were that the government had limited powers, and gave some power to the states. The states had more power and less to the federal government.
- The Continental Congress shaped the AOC the way they did because they did not want the people to fear the government and try to over through it.
- The major problems created by the AOC were Foreign trade and currency. There was a lack of leadership within the government, the states often choose not to pay taxes leading to the federal government to have little funds, and it was almost impossible to change the AOC: one state can make a difference.
- The features of the AOC that caused most of the problems were that there was no Chief Executive. There was a lack of leadership within the states because there was no single leader of the states. Secondly, the congress did not have the power to demand taxes, only request taxes from the states, and the states did not want to pay the taxes leading to the government having low funds.
- Changes that could should be changed are that the government should have a single ruler (king) but he/she cannot have all the power. The power should still be split within the government and the states.
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