Read Chapters 1-4 p. 3 - 23 and answer the following questions:
1. Choose one of the unprecedented stresses on the earth resources and describe how it will negatively effect the quality of life of people living in developing countries and people living in modernized countries. Demographic explosion- it puts a stress on urbanization, food, energy, diseases,pollution, and poverty in both developing and modernized countries.
2. What is the major debate around the future of market-based economies? how to balance the basic market oriented approach wit this or that regulation or policy
3. How has this technological revolution different the previous technological revolutions and what two factors of production and now more important than capital, labor and raw materials? this one has to do with transformation of time, not transforming energy or matrials-- knowledge and creativity
4. What new service ideas have you had direct experience with? Drawing on your personal experience what are the benefits and drawbacks of these new service ideas? products are becoming more like services- because I have bought 4 cars now (I don't see any problems with it unless someone can't pay and yet they still get the things they want), giving things away- because I LOVE goodwill as well as let my friends go through my clothes on a regular basis (I think its very generous with no drawbacks, the world is in need of less competition), and bundling and unbundling- because I heard the whole overview whenever I was trying to buy internet and they wanted me to get cable and dvr and everything else and its brother ( it drives me crazy because I know what I want and don't need anything else)
Quote: Electronic money will have sent central banks scrambling for new roles.
Response: Even though I love my debit card, I still rather enjoy going to the bank. Debit/credit cards may be faster, but there should be some pride taken in actual cash. It goes way back and destroying that value, could send a lot more going down the drain. I, personally, would rather have a check to take to the bank to either cash or deposit than a direct deposit. I think it is easier to keep track of and helps you be more responsible. As does carrying around actual cash. With credit cards, its just one swipe and you don't pay attention to all the money you're spending until you get that bill. It is causing debt and I think that if we could, we should go back to having to pay cash for everything or just use debit because the card won't work if you don't have enough money in the bank. This sentence got me very heated for these reasons.
Picture: This picture was labeled future money rotator. I don't want my money to be handled on my unreliable phone....???!!!
Citation: Future Money Rotator. (2012). Retrieved October 4, 2012 from http://spectrum.ieee.org/computing/networks
Excellent commentary on the new money system!
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