Archive forSection 05

Povery Should Have Risen

This article, although very one sided, questioned the fact that although unemployment rises in the U.S, the poverty level never changes. This is very interesting because as less and less people work, logically, there should be more poverty. However, this author claims that this is because the incentives to avoid work in the U.S are too strong and people gain more by staying unemployed. According to him, although the numbers aren’t showing it, all these incentives are creating an impoverished and overly reliant society rather than a successful one.

http://economix.blogs.nytimes.com/2012/12/05/poverty-should-have-risen/?ref=economics

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Democrats try to stop Michigan’s “Right-to-work” law

This bill would be a huge blow to Union workers and their ability to negotiate and their access to financial resources. While some people say this will attract buisiness to the state, others are worried that this will cause too many workers without the rights to keep their wages at fair levels. This is a very good example of what happens in a labor market when unions and bills are involved.

http://money.cnn.com/2012/12/10/news/economy/michigan-right-to-work/index.html

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$400 Starbucks gift cards sell for $450

This giftcards are being sold for $450, some even for $1000 on ebay due to their “limited edition” status. For loyal Starbucks customers, this extra cost is worth it. However, it is unbelievable that there would be such a high demand on a gift card that people would pay around $500 over the market price. This phenomenon demonstrates how quickly the demand for a limited supply of a good can force the price to rise to extreme levels.

http://money.cnn.com/2012/12/10/news/companies/starbucks-card-ebay/index.html?iid=HP_LN

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Making the Break: How Britain could fall out of the European Union, and what it would mean

Recently, Great Britain has considered making a break from the European Union. With all the economic crisis happening in Europe, Great Britain might have the economic advantage if it leaves the Union. The article goes into depth about how this decision would affect not only businesses in general, but the entire economy.

http://www.economist.com/news/briefing/21567914-how-britain-could-fall-out-european-union-and-what-it-would-mean-making-break

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When Cheap Foreign Labor Gets Less Cheap

This article discusses how wages are starting to rise in other foreign countries. As wages start to rise in developing countries, labor in the US starts to become more competitive. This starts to make it seem like work can be done just as well here in the US as it can be done anywhere else. With this in mind we could start to see the transfer of production back here in the US.

 

 

http://economix.blogs.nytimes.com/2012/12/07/when-cheap-foreign-labor-gets-less-cheap/?ref=economy

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New Taxes to Fund Health Care Law

This article discusses an increase in the pay roll tax on wages and a tax on investment income, including interest, dividends and capital gains. Since more affluent people are more likely to have health insurance than those not as well off, these people will essentially be paying the gap for insurance. This new law will require workers to pay an  additional tax equal to 0.9 percent of any wages over $200,000 for single taxpayers and $250,000 for married couples filing jointly. This can see increases in taxes of more than $6,000. They said that this tax would bear the most weight on the most affluent people of society.

 

 

http://www.nytimes.com/2012/12/09/us/politics/new-taxes-to-take-effect-to-fund-health-care-law.html?hp

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Apple to Resume U.S. Manufacturing

http://www.nytimes.com/2012/12/07/technology/apple-to-resume-us-manufacturing.html?ref=business

This article discusses an exciting prospect in the American job market,  the return of a portion of Apple manufacturing to the United States.  In 2013, Apple is expected to invest 100 million dollars in manufacturing in the United States.  While this a small portion of Apple’s overall worth and output,  this prospect of an increase in job for the future can be drawn from this movement.  In the technology sector, an increase in demand for workers with those kinds of skills with most definitely be welcomed.  Hopefully this is a positive sign for the future of America’s job and manufacturing markets.

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Americans buying more fuel- efficient cars, polluting less

http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/05/graph-of-the-day-americans-buying-more-efficient-cars-polluting-less/?wprss=rss_economy&tid=pp_widget

 

Due to the change in supply of oil, American producers are producing more fuel efficient cars. That is a response also to the increasing demand for more fuel-efficient vehicles. Americans realize that as prices of gas skyrocket and falter, becoming more and more unstable, they will be more secure with a car that doesn’t waste all their money. This recent 20 percent drop in greenhouse-gas emissions has been a phenomenal step for americans. This article also included an interesting chart showing the fuel used per gallon driven, the miles drive, and overall vehicle emissions.

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Private New Jersey College Offers In-State Tuition Rate

http://news.yahoo.com/private-jersey-college-offers-state-tuition-rate-154229132.html

 

I thought this article was interesting because it directly related to students. As we know, tuition increases annually, in this case it was between 3 and 5 percent. A specific program is mentioned in this article for the students to achieve the lower education costs as a freshman at Seton Hall University. In order to qualify however, the students much achieve a few required specifications. Those goals include receiving placement in the top 10% of their graduating class, and scores of a 27+ on the ACT standardized test or a 1200+ on the SAT. Again, the incentive of money is portrayed. Students wanting admission to the school and access to the program much realize those requirements and work throughout their high school careers to become eligible. I believe the incentive of money is effective. Those that do not think they could afford to get an education at a private school such as seton hall notice that if they work hard enough, the prices drastically drop, therefore allowing them the opportunity to pursue a degree from the institution.

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The Views of the “Fiscal Cliff” from Around World

http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/05/how-do-other-countries-view-the-fiscal-cliff-lots-of-pointing-and-laughing/

This article from the Washington Post, discusses what the rest of the world thinks of the United States looming “fiscal cliff”.  I found this very interesting, because it seems the country’s various reaction relate to current financial situations in one’s country’s general area.  For example, Germany harshly compares the US to Greece, while China acknowledges how bad a US finical crisis would affect their economy and the economies of those around them.  Overall this provides a different view into this issue.

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