Double journal Entry #7

1.       Choose one of the unprecedented stresses on the earth resources and describe how it will negatively affect the quality of life of people living in developing countries and people living in modernized countries.

   One of the unprecedented stresses I worry most about is the scarcity of water. I worry because it only takes three days without water and the human body starts to shut down and you die. If water gets to the point of there not being enough it will have to be rationed. It will negatively affect both developing countries and modernized countries in the same way because whoever has the most power or money in the country will receive the water first. Then if they run out on the way down the “ladder” then you’re just SOL.

 

2.       What is the major debate around the future of market-based economies?

  The major debate is how to balance out there market-oriented economies, and while this debate is going on there is also no thought into doing a wholesale and returning to central planning or even to state enterprise.

 

 

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 technological revolution is centered on low-cost telecommunications and information technologies, which has caused many side revolutions. In today’s revolution is mostly about the transformation of time and distance, which is much more important than capital, labor, and raw materials.  

 

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?

  I have had direct experience with information services. The benefits to these are you can find out whatever you like whenever you like, but the drawback is sometimes when you are ,for example, calling to get help with your computer they make you talk to a computer animated voice that only understands yes or no.

 

Quote:

By 2020 China could be well on its way to becoming once again the world’s largest economy.

 

Response:

I chose this quote because this concerns me. China is coming up the ranks because only the brightest children are allowed to go on and have more education and that is why there “averages” are so high. Also because when their children are in school they there far longer than American students. With that many bright young adults coming into the work force and helping develop new technologies it is no wonder that China will be the world’s largest economy.