Showing posts with label *PP #5. Show all posts
Showing posts with label *PP #5. Show all posts

Wednesday, May 15, 2019

How will regulating PED's affect the athletes?

Image result for josh whitman
Josh Whitman (Source: Illinois News Bureau)

While it is the belief among many that steroids and other performance enhancing drugs in the use of sports is cheating and "unethical", it is also fair to say that many of the people that have this view probably don't play sports, or at least at too high of a level. The man pictured above, Josh Whitman, is the current Athletic Director at the University of Illinois Champaign and is also a former NFL tight end. 
In an article he wrote published by Illinois News Bureau, he talked about the take high level athletes had on PED's. " It is both unrealistic and arguably unfair to ask athletes to protect themselves from the innate parts of their own character that we cheer so heartily while they are within the competitive arena". To break this down, Whitman is essentially saying that why should we care what these athletes are doing when in reality we love seeing them make extraordinary plays on the field. Whitman went on to say that as an athlete, "your primary goal and the only goal is to win". Players should be able to do whatever they want/need to in order to accomplish this goal.
While Institutions being my economic policy, I would like to say that I agree with Whitman that having PED's banned in sports is stupid and quite unfair to athletes themselves.

How much more expensive are renewable sources than nonrenewable sources?

SOURCE: ResearchGate

The economic principle I'm exploring is institutions are the "rules of the game" that influence choices.

First, according to the US Energy Information Administration, "renewable energy is energy from sources that are naturally replenishing but flow-limited. They are virtually inexhaustible in duration but limited in the amount of energy that is available per unit of time."

Sounds pretty good right? Then why aren't we taking advantage of these brand new energy sources? There are many reasons why and why not, for my fifth post I will focus especially on how much more expensive renewable energy sources are than nonrenewable sources.

In reality the cost of wind power is about $30-60 per megawatt-hour, and large-scale solar costs about t$43-53/MWh. For comparison, energy from the most efficient type of natural gas plants cost $42-78/MWh; coal power cost at least $60/MWh. So in terms of output and the amount of money you get back most renewable energy resources are way more cost efficient than their nonrenewable counterparts.

New research shows that in the long-run, renewable energy is more cost effective than non-renewable energy. Some energy companies considered costs over the lifespan of energy projects and found wind and utility-scale solar can be the least expensive energy generating sources.

It is true that most renewable energy sources are very expensive to install and may take quite a lot of time until you are able to break even with the money you spent on it but in the long run renewable energy sources are more cost effective and safer for our environment.

Sources:



Tuesday, May 14, 2019

Streaming Services and the rise of R&B/Hip Hop

Refinery29
The economic principle I am researching is supply and demand In the music industry and how it both drives and shapes the music industry as a whole. In today's blog post I will discuss how music streaming services.

 In 2017 the long dominating genre of rock and roll gave up its title to R&B/Hip Hop for the first time in history. The Nielsen Music report according to Forbes.com for the first time showed R&B/Hip Hop take the leader-board with 25.1% of all music consumption while Rock is at 23% of total music consumption.

 Not surprisingly, the music streaming industry has no small role in this. Rock and roll is more popular with older generations while R&B/Hip is most popular with millenials and teenagers. The older generations also are more likely to listen to physical forms of music such as CDs and Records. There forms of music are expensive and have a limited supply because there is never an infinite supply of money.

 On the other hand, millenials and teenagers who are more likely to listen to R&B/Hip are also more likely to listen to music streaming services are able to listen to a much larger volume of music because streaming services do not charge per play or per song. Thus more R&B/Hip Hop music is consumer when compared to Rock because the effective supply of R&B or Hip Hop music is much larger.

 In my next blog post I will sum up and conclude all of my previous blog posts.

How Has Technology Changed The Way We Experience Live Music?

Image result for edm concert
Live 365

The economic principle that I am researching is that people generally respond to incentives in predictable ways, and how technology has changed our methods of listening to music.

My research question to help me study this topic is how technology has changed the way we experience live music.

With the development of more powerful technology, the lighting and other visuals that are shown during concerts have became incredibly better.  For example, in the picture above, there are lights of all different colors arranged in incredible patterns all being controlled by some guys sitting on a computer. Additionally, there is smoke and fire that can shoot up from points in the stage.  None if this would have been able to happen in the past.  Additionally, technology has made it possible to design much more complex stages which are very popular at music festivals.  Engineers are able to model what they want the stage to look like on a computer and now have the technology and machines to build it exactly how they want to.  These are the sort of behind the scenes things that we as concert listeners take for granted.  Lots of hard work goes into the technological aspect of a concert, and 90% of the things we see at concerts today probably couldn't have been done at a concert 20 years ago.  

Is Snapchat Just as Addictive?

SOURCE: Cooking Channel

The economic principle I’m exploring is “Institutions are the ¨rules of the game¨ that influence choices.”
My research question to help me study the economic principle is “How does the social media site Instagram influence users to buy specific products?” 

The article published in LiveMint titled “Why is Snapchat so addictive?” demonstrates this economic principle by showing how the social media site Snapchat hooks users into using their app.

According to the article, snapchat may be the best form of communication for the new generation today, mostly because of its”brevity”. Because of the decreased attention spans amoung youth, the way snapchat is structered allows people to communicate quickly while still being entertained. J.J. Delacruz, a graduate student at Texas Tech University in the US, stated that, “People use Snapchat a lot because of its entertainment and functional needs." Another reason why snapchat’s “brevity” is appealing is because since the content disappears quickly, users are able to share their lives and “do not feel the pressure to present themselves in any extraordinary form—they can just be their normal, real self.” 

Speaking from my experience, I would have to agree with the information that I gathered above. Snapchat for me is my main form of communication with my friends. It’s quick, it’s more entertaining than texts, and it helps that most people now a days are on snapchat over any other social media anyways. Another thing that I think hooks people is being able to share and watch snapchat stories, which are quick, one minute videos or pictures that just show a glimpse of a moment that you have experienced. Again, I think because it’s only a quick snapshot and it does disappear after 24 hours, people stay entertained with it and don’t lose focus.

In my next blog post I will summarize my findings.

Thursday, May 9, 2019

FOMO

Image result for fomo affecting self esteem




The economic principle  I'm exploring is "Institutions are the “rules of the game” that influence choices."
My research question to help me study this economic principle is “Does FOMO play a role in self-esteem?”
An article published by  Sherri Gordon, titled ¨How FOMO Impacts Teens and Young Adults” demonstrates my economic principle by providing reasons as to why FOMO affects our self-esteem and how we feel when we aren’t in our social world, rather in the real world.
In simple terms, FOMO stands for "fear of missing out." “FOMO, refers to that nervous or anxious feeling a person gets when they realize they are not attending a social event either because they were not invited or they just did not feel like going.”
what should come as a surprise to readers is that FOMO can actually play a unexpectedly big role in self-esteem. Data shows, FOMO “may cause them to lose their sense of identity and to struggle with low self-esteem. But worse yet, when they are struggling with FOMO, that means they are so focused on what others are doing that they forget to live their own lives.”
In my opinion, FOMO has a strong impact to our lives. According to Project Know, teens also may feel pressured to use drugs or alcohol in order to keep up with friends or celebrities they follow on social media. “They also may have lower levels of satisfaction with their lives, which makes them especially vulnerable to other mental health concerns.” which demonstrates the disadvantage of having the FOMO.
“Another consequence of FOMO is distracted learning as well as distracted driving. For instance, teens with high levels of FOMO were more likely to check their social media feeds during class or while driving. What's more, they were also more likely to text and drive.” This shows all the effects of having FOMO, and how there is a very real correlation between the number of hours spent on digital technology and higher levels of stress and depression.
In conclusion, FOMO is another factor causing self-esteem. This proves and answers my question, “Does FOMO play a role in self-esteem?” and my answer is, Yes! It does.
In my next, and final blog post, I will be covering all the 5 topics I addressed about “How Social Media plays a role in Self-esteem.”


Monday, May 6, 2019

What is the psychology behind the exotic animal market?

Image result for mind picture


                                                         Source: pitchvision.com


The economic principle I’m exploring is “Institutions are the ‘rules of the game’ that influence choices.”

 My research question to help me study the economic principle is “How does the varying legality of exotic pet ownership around the world influence the exotic pet trade?”

 My sub-research question is “What is the psychology behind the exotic animal market?”

 The articles published in mentalfloss and vice titled (respectively) “The Ins & Outs of Exotic Animal Smuggling” and “Why Rich People Are Obsessed With Owning Exotic Animals” demonstrate this economic principle by showing that sometimes a certain psychology or train of thought will overrule people’s sense of legality or institutions.

 First, as quoted from an article cited in a previous post - the reason so many smugglers enter their trade in the first place is because wildlife trafficking is “low-risk, high-reward” and thus, “many drug traffickers...diversify into the wildlife business.” In short, it’s a quick and easy way to make a whole lot of money. But what about the buyers? Some believe in “the psychology of collectors.”As one author - Bryan Christy - reasoned in his book The Lizard King: The True Crimes and Passions of the World's Greatest Reptile Smugglers, “..reptile collectors tend to follow a common progression. First, they get bigger species, then meaner ones, then unusual ones, and, finally, illegal species, which are also frequently venomous.” It can be safely assumed that other exotic pet owners - not just reptile owners - largely follow the same trend.

 Second, I took a wider look at those who purchased exotic pets - not all were serial collectors or black market-regulars. Historically, rare and unusual pets have been a status symbol for the wealthy. Vice author Sarah Emerson suggests that “Perhaps to the extremely wealthy, wildness is a commodity itself. Humans have dominated our environment for millennia, though we've only recently started to truly conquer it. And what's more self-affirming than a living, breathing reminder of our command over the natural world?” She theorizes that it’s their “untamability” in itself which makes them so alluring. As Lisa Wathne, “a captive wildlife manager at the Humane Society of the United States” affirmed, “‘It’s ego, plain and simple… Especially when you see people with tigers on leashes or giant snakes wrapped around their necks. There’s no doubt they’re thinking about themselves far more than they’re thinking about the animals.’”

 Third, I explored a “conservation psychology” blog, which covered some more well-intentioned reasons for purchasing an exotic pet alongside the typical ego and greed. According to author Pamela Goh of Nanyang Technological University. “pet owners of small exotic animals do claim that their pets offer the same or even more unique forms of love, companionship, and satisfaction as that of a dog or cat.” Additionally, “Some exotic pet enthusiasts argued that taking care of a dog or hamster is just not challenging or unique enough. They consider the responsibility of looking after a non-native animal a “new, learning experience“, not obtainable from caring for any other typical pet. Having an exotic pet goes beyond the common expectancies and standard routine of care that everyone knows of, that is required for an already well-established pet.” Or, in other cases, some pet owners see exotic animal ownership as a way of preserving their pets’ species, should it ever go extinct in the wild. However, Goh observes that “it would work only if these exotic animals are kept solely for this purpose rather than to meet humans’ needs for novelty, interest or gratification”. Though there are undoubtedly a number of well-meaning exotic pet owners out in the world, overall, it seems like the driving factors for this market are essentially greed and ego.

 In my next blog post I will provide a summary of all my findings.

Friday, May 3, 2019

What are the government regulations for food labels?


Image result for false organic labeling false organic labeling




The economic principle I am exploring is, what are government regulations for labels on food products?

My research question to help me study the economic principle is what are government regulations for food labels?

The article "When 'Organic' Food Isn't" published in National Review demonstrates this economic principle by showing us labels on food cant always be trusted.

First, the Washington post had to articles where they exposed the "dubiousness" of the organic label. Basically the researchers wanted to see if these organic farms pass the standards of organic foods, and if they do not, people are being overcharged and mislead. I think when people are willing to pay sometimes even double the price of a produce to make sure it isn't sprayed in pesticides or other harmful chemicals, farmers and producers need to keep their word and keep up with the standards.


Second, the Post wanted to do another study on the organic grains in the US, since nearly all the corn and soybean in the US are genetically engineered seeds.  The investigation on grain showed that two shipments large enough to "constitute a meaningful proportion of the US supply were fraudulent. Knowing that this is something that can happen is is very disappointing and can also be very dangerous. I know from personal experience that the chemicals they spray on oranges is very harmful to my body. I will break out in hives for days and when I eat an organic orange I am perfectly fine. So not only are they taking more of our money but also putting our health at risk. 


Third, not only does a companies produce have to be treated and handed a certain way, but also their livestock. For example Organic Valley, which is one of the largest producers of organic dairy in the US mentioned the feed they buy for their cows, when there is a domestic shortage, is sometimes imported from Turkey and Romania. This should be of concern to consumers because studies have shown that the grain from those countries are "fake organic". I think when people say they have organic produce and charge more for their produce they should do everything they can do make sure they have 100% organic products.  

How would the wall effect drug smuggling?


SOURCE: Washington Examiner

The economic principle I’m exploring is that all choices have an opportunity cost.

My research question to help me study the economic principle is “How would the wall effect drug trafficking?”

The article published in The Washington Post titled “Want to Know Where Most Drugs Come From? Look at the Border Patrol’s News Releases” demonstrates this economic principle by going into how drug smugglers cross the border, how many drugs come across the border, and what percent of drugs come from the southern U.S. border. 

First, the author goes into crossing the border and the simplicity of it. “You bring trucks of drugs by making a right 20 miles, and a left into the country.” They bring massive amounts of drugs, and they do it because there’s no barrier, there’s no hardened wall.” With this being said, it shows how since there is not a physical wall throughout all of the border, it is very easy to illegally smuggle things across the border.

Second, the author shows the amount of drugs that get stopped at the ports of entry and by immigration checkpoints. From November 1st, 2018 to February 1st, 2019, there were 120 drug busts, 96 were at these two places. In these 120 busts, about 33,249.25 pounds of drugs were stopped. These are just the ones at the legal places of entering and being stopped. With people admitting the simplicity of sneaking these things across the border, imagine how many pounds of drugs get through without being stopped. 

Third, there is a very high percent of drugs that come through that border. Of the illegal drugs, about 90% of them come across the US’s southern border. Not all of them originate in Mexico, some are from other South American countries. This proves that something needs to be done, since a large majority of the illegal drugs are coming through the southern border.

I think with all of these points being said, it shows that something needs to be done about the amount of drugs that come through. It is admitted how easy it is to take them across the border without a real wall, so to reduce the amount of drugs that come through, it makes sense to put up a real wall in order to achieve this goal.

Specific Architecture Project

The economic principle I’m exploring is Institutions are the “rules of the game” that influence choices.


Image result for apple campus
                                                                Source: GeekWire(Apple Park)
For this blog post I will not be using a research question and instead be analyzing the environmental, financial and social impacts of a specific project.  

Before he died Steve Jobs said, "I really do think that architecture students will come here to see it", when talking about Apple Park in 2011.

The specific project I'll be talking about is a big one. Apple's newest HQ called Apple Park has a circumference of one mile, houses over 12,000 employees and looks kind of like a spaceship. Not only that but, it is the fourth most expensive building in the world costing $5 billion. I talked about this structure in the past when I did a post on how different styles of buildings send different messages and I said that Apple Park sends a very unique message. Unlike a church or a factory it doesn't just say, 'industry' or 'religion'. I think that Apple Park is almost like a glimpse into the future. 

Not only this but, Apple Park has has a lot of environmentally friendly pieces that contributed to it's massive costs. When Apple designed the Park they were thinking about the future. As I also proved in one of my past blogs, environmentally friendly buildings have higher costs initially when they are being built but, they are much cheaper to maintain than other buildings. This makes structures like Apple Park more profitable in the long term.
Your Food could be robotic.
 The global food robotics market will grow at a CAGR of 12.7% from 2019 to 2025 to reach $3,107.4 million by 2025. As stated in the article “Global Food Robotics Market 2019-2025 - A $3.1 Billion Opportunity by 2025, Growing at a CAGR of 12.7%”

Driven by increasing food safety regulations, rising demand for packaged foods, growing demand to improve productivity, increasing production of low-cost robots, increase in investments for automated solutions in food industry, growing demand for reducing production cost and increasing food shelf-life, and entry of new-players which has led to the emergence of advanced robotic technologies.

 However, the lack of a skilled workforce in emerging economies restricts the market growth to some extent. Moreover, the high cost of installation and service charges of robotic systems, and manufacturing advanced robotic systems specific to the processing line requirement are the major challenges for the penetration of robotic systems in the food industry.

 Automation has become an essential part of the food industry in the past few decades. The increasing demand for processed foods and the growing production volume of food products has significantly surged the demand for robotics and automation in the food industry. The flexibility, adaptability, and repeatability of the robots have highly influenced the food and beverage industry to adopt robots for various applications including palletizing, pick and place, processing, and packaging. The adoption of robotic systems has recently increased in the various food sectors such as dairy and dairy products, meat processing, and prepared foods.

This is very interesting to me because I think it’s interesting that a machine which knows nothing about food or taste is such a big factor in food processing. But I suppose you that you don’t know have know much about the product, you just need to know how to assemble it. However that just shows that even unconscious, emotionless robots could do a job that some would consider an art form.

Thursday, May 2, 2019

Fashion Changing Through the Times.

Image result for 1960s fashion
website


The 1960s fashion is very different from the 1950s style, believe it or not. The 60s style was a spin off from the 50s, but they ditched the puffy skirts. Looking at these websites,
60's fashion, 1960-1969 Fashion, and 1960's Fashion, 60’s fashion was all about being you and sexy. The 60s became more sexy in the fashion industry. Women were able to show their curves a lot more, and it was okay for them to. Though, the 60’s isn’t favorite time period, they had a breakthrough in the fashion industry which helped women out. The puffy skirts where out and tight clothing was in.

 Since tight clothing was gaining popularity, so where patterns and bright colors. Some of the most popular colors women would wear, where blue, green, pinks, and yellows. You barely saw a women in plain colors. It was all about the elegance of tight clothing with the bright colors. When I say tight clothing, most clothing options weren’t skin tight, but it was tighter than the 50’s. Dresses had lost their petticoats, thus making dresses and skirts appear tighter, to give women more shape and body. Women were also allowed to start wearing jeans.

 Jeans had started to come more and more popular throughout the years in the 60’s. The most popular style of jeans were the blue jeans, with the bell bottom flair. They had became the staple point in 60’s fashion, and today, they are coming back in style. Teenagers where the ones who started wearing this type of jeans, and it was iconic. Teens where the ones who enjoyed the bright colors and tighter clothing compared to the older generations.

The older generations where the ones who didn't like the idea of women showing more skin, but they ended up jumping on the train. Their petticoats became smaller than what they where before, and their dresses had gotten shorter.

Though the 60's fashion was completely different from the 50's, they knew how to party. Now, how different are each decade from each other?

Monday, April 29, 2019

how much the ski resorts profit each year?


Image result for vail resorts money






http://investors.vailresorts.com/news-releases/news-release-details/vail-resorts-reports-fiscal-2017-fourth-quarter-and-full-year
  • Net income attributable to Vail Resorts, Inc. was $210.6 million for fiscal 2017, an increase of 40.6% compared to fiscal 2016. Included in net income for fiscal 2017, on a pre-tax basis, are charges for an increase in the Canyons contingent consideration of $16.3 million and a future contribution to Town of Vail parking of $4.3 million, as well as a foreign currency gain of $15.3 million on the intercompany loan to Whistler Blackcomb Holdings Inc. ("Whistler Blackcomb").
  • Resort Reported EBITDA was $593.4 million for fiscal 2017, an increase of 31.1% compared to fiscal 2016. Fiscal 2017 Resort Reported EBITDA includes the operations of Whistler Blackcomb and Stowe Mountain Resort ("Stowe") prospectively from their respective acquisition closing dates and $10.8 million of acquisition and integration related expenses.
  • Season pass sales through September 24, 2017 for the upcoming 2017/2018 North American ski season increased approximately 17% in units and 23% in sales dollars as compared to the period in the prior year through September 25, 2016, including Whistler Blackcomb and Stowe pass sales in both periods, adjusted to eliminate the impact of foreign currency by applying current period exchange rates to the prior period.
  • The Company issued its fiscal 2018 guidance range and expects Resort Reported EBITDA to be between $652 million and $682 million, including an estimated $2.6 million of integration related expenses

The Most Successful Ads of All Time

Source: Wikipedia

The economic principle I’m exploring is “People generally respond to incentives in predictable ways.”

My research question to help me study the economic principle is “What are some of the most successful advertising campaigns, and why are they so successful?” 

The article published in BluLeadz titled “20 of the Best Marketing Campaigns of All Time” demonstrates this economic principle by showing that campaigns like Dove Real Beauty, Nike’s “Just Do It”, and De Beers Diamonds were/are incredibly successful, particularly because of the techniques we’ve discussed in previous blog posts.

First, arguably one of the most successful and long-running campaigns of all time is Dove’s “Real Beauty” campaign. For those who don;t know, during this campaign Dove advertised its products with a message that people, particularly women, of all shapes, sizes, and colors are beautiful, by showing diverse and happy models in their ads. The author of the article said that Dove began the campaign after they found that “In 2004, Unilever's research found that only 4% of women considered themselves beautiful”, and thus, the Campaign for Real Beauty began. The campaign not only was successful in sales, but the author says that it was successful in getting the world to start talking about beauty standards. “Talk shows, women's magazines, and TV news began discussing modern female beauty standards. The campaign evolved into a series of viral videos, commercials, and print ads that changed how we all look at beauty.” So what advertising technique made this campaign so successful? The answer is emotion. Dove’s ads successfully carried emotional content that the viewer could easily connect to, and as we’ve shown, emotion matters more than content in the success of advertising.

Second, Nike’s “Just Do It” campaign is also up there in the charts of most successful advertising campaign. It also increased the company’s profits exponentially. The author says that In 1988, Nike sales were $800 million. They introduced their iconic “Just Do It” campaign. Within a decade, sales topped $2 billion.” Nowadays, we can look at the iconic “Just Do It.” check mark and immediately know it’s a Nike product. Why? Repetition. The phrase and symbol are used in every one of their ads, commercials, products, etc. The constant repetition of the brand has ingrained it into consumer’s minds, therefore making it one of the most popular and recognizable brands.

Third, DeBeers Diamonds, although likely less widely known due to its age as an advertising campaign, was also incredibly successful. They sold diamond jewelry, particularly engagement rings, with the slogan “A Diamond is Forever.” The author claims that “This campaign created the idea that a diamond is the quintessential token of love and started an industry!” And there is definitely some truth to that. The reason this company was so successful is that through slogans and ads, they created the association between diamonds and everlasting love. So then, when someone sees a DeBeers Diamonds advertisement, they will immediately think of eternal love, thus inciting them to buy their products.

In my next blog post I will wrap up my research on this topic.

Sunday, April 21, 2019

Free trades overall affect on the economy?

                                                  Image result for economy       

The Economic principle I'm exploring is people gain when they trade voluntarily

My research question to help me study the economic principle is "How does free trade help Americans

The article published on Investopedia titled Free trade demonstrates this principle by showing the overall economic impact free trade has

First the article explains how "economies can experience faster growth rates." By having free trade it allows countries and businesses in foreign countries to focus on creating specialized products. This results in increased economic impacts for both countries.

Secondly discussing the economic growth. The article talks about how "free trade reduces imported-input costs, thus reducing businesses' production costs and promoting economic growth." This allows businesses to create products at the most efficient price.

Lastly free trade allows for economies in different countries to have a fair chance to succeed. When everyone follows the same thing there is no corrupt systems and wrongful loopholes put in place. This allows for fair competition in all countries.