Food Irradiation Essay -- essays research papers

Food Irradiation   Ã‚  Ã‚  Ã‚  Ã‚  Food irradiation has the longest history, more than 40 years, of scientific research and testing of any food technology before approval. Research has been comprehensive, and has included wholesomeness, toxicological, and microbiological evaluation. Worldwide, 38 countries permit irradiation of food, and more than 28 billion lb of food is irradiated annually in Europe. It is important to note that food irradiation has a pretty remarkable list of national and international endorsements: ADA, American Council on Science and Health, American Medical Association, Council for Agricultural Science and Technology, International Atomic Energy Agency, Institute of Food Technologists, Scientific Committee of the European Union, United Nations Food and Agricultural Organization (FAO), and the World Health Organization (WHO).   Ã‚  Ã‚  Ã‚  Ã‚  Although the US food supply has achieved a high level of safety, microbiological hazards exist. Because foods may contain pathogens, mishandling, including improper cooking, can result in food-born illness. Irradiation has been identified as one solution that enhances food safety through the reduction of potential pathogens and has been recommended as part of a comprehensive program to enhance food safety. However, food irradiation does not replace proper food handling. So the handling of foods processed by irradiation should be governed by the same food safety precautions as all...

How Starbucks Saved My Life Essay

We chose to review the bestselling book called â€Å"How Starbucks Saved My Life† by Michael Gill because we thought that it would be a good read, as the title itself was intriguing. The book was quite difficult to find but somehow we managed to chance upon some copies of it. The book was not a disappointment as it was truly inspirational. It had taught us to start looking on the brighter side of life and to always move forward, not backward. We have also learned that we should not dwell on the past. At the start of the book, Michael Gill had been living in his past and had many regrets in his past life. Soon enough, the author came to the realization that lingering in his past was not going to make the present any better for himself. Hence, he made the decision to obtain a more positive mindset about the future. He proceeded to observe things in a different light and always did things with an open mind. Another one of the reasons why we chose this book was because it has also taught us to be hard working and take pride in whatever we have accomplished. In addition to that, the author taught us to never take things for granted and to appreciate the things we have in life before it can be abruptly taken away from us. The book is based on a true story about the author’s life. He used to work with J. Walter Thompson (JWT) – the largest advertising agency in the United States of America – as a successful advertising executive. He devoted most of his life working hard for the agency and sacrificed most of his time with his family to contribute in making the agency successful. He had spent long hours working with his clients instead of being with his family. The author thought of himself as a pillar of his family. He thought that sacrificing his job was worth all the times he had not been there for his family as he desired to provide a good life for his family. In fact, he was so loyal to his job that he was willing to surrender spending Christmas with his family to work with his client. The author had said â€Å"I was full of pride that I had never refused any effort JWT ever asked of me. † (2008, page 8). He had done everything he could to dedicate himself to the company; he was soon enough fired by one of his colleagues, Linda. The author had really liked Linda and he had helped her to move up on the Board of Directors. Hence, he felt extremely hurt that he was fired by Linda as he thought of her as a friend. The author was also furious with himself because he did not notice the signs earlier on while he was working that his new boss, a Brit named Martin Sorrell, who was younger than him. One of the signs that the author should have paid attention to was when his boss had once said straightforwardly â€Å"I like young people around me. † (2008, page 9). A few years later, he decided to open up his own consulting company and at the start, many of his old clients made business with him. However, his business gradually slowed down to a halt as lesser and lesser of his clients went back to him. His life became more miserable when he found out that he had a tiny tumour called an ‘acoustic neuroma’ on the base of his brain that was affecting his hearing. The author also started going to the gym momentarily after he was fired to keep himself occupied. â€Å"I needed a reason to get out of the house everyday, and exercise became my new reason for getting up and out. (2008, page 23) was what the author said. The gym was where he met his mistress, Susan. He had an affair with Susan for more than a year while still being married to his wife, Betsy. Late one morning, Susan broke the news to the author that she was pregnant with his child. He had hoped that she would go for an abortion but she refused because she thought that God told her that she should keep the baby. The author had then confessed to his wife of many years that he had impregnated another woman which led to his divorce. The author was sitting in a Starbucks store, reminiscing about his past when a black lady named Crystal accosted him intrepidly and confidently, offering him a job at Starbucks. During the interview, Crystal provided the author with a booklet that showed the health benefits of working as a barista at Starbucks. This caused the author to immediately make the decision to work at Starbucks as he could finally secure his fifth and last child’s health insurance. He then embarked on a new journey working at Starbucks and working for Crystal was a new experience for him since he was used to working in a high rank position. The author also wrote about how the Guests of Starbucks treated him differently than the clients he used to work with in his previous job. His Partners treated him with respect and was always patient when it came to teaching him new things. Slowly, he moved up his position as a barista and became the Coffee Master of the store. He adored his job so much that he wanted to exceed his service for his Partners and Guests. Therefore, he did this in a form of writing poems for them. One of the poems he wrote for his Guests was: â€Å"Your wonderful smile/When you walk in the door/Helps to make/Our spirit soar. You make sure to us/Just how we are/When we see you at the register/Or at the bar. /Little wonder you are our star/And a favourite Guest. /You bring out/Our very best! † (2008, page 224). At last, he decided to quit working at Crystal’s store and work at the Starbucks store which is near to his apartment. When he told Crystal that he wanted to work at another Starbucks store, he was praised by Crystal as being one of the best at delivering legendary service. It meant that he made the extra efforts to make positive bonds with the Guests. Due to his excellent service, he helped the store to attain a five star award which was the first ever time that Starbucks rewarded its stores. The book was useful to us as there were some original economic acumen. It taught us that no matter how rich and successful you are at that point in your life, you will still have to make a financial backup plan and be vigilant towards your own financial wealth. We found this book inspiring because the author did not give up even after many downfalls in his life. It taught us to persevere through hardship and be determined to overcome it. Family was also another important factor that he had stressed on in the book. He wrote about how he regretted not spending enough time with his family. He wrote that he was upset with himself because he had not been able to see his children grow up as fine adults that they are presently. This has taught us not to neglect our family even though it clashes with our personal work. We must always spend quality time together because it will strengthen the bond in the family as it is our first priority. The fact that he was the reason why his family was broken apart also caused him to feel guilty. The author had lived luxuriously all his life until he was fired by his company. He had once said in an interview, â€Å"I was born with just about every advantage you could imagine, or even wish for. † He had everything he wanted but he took it for granted. We can relate this to our lives as it acts as a reminder to us to always treasure what we have in life. This book is mostly about his experience working at Starbucks. However, the book was not entirely perfect. What did not appeal to us the most was that he had too many flashbacks. Due to the numerous flashbacks which he had, it made the book less interesting to us. It was tough for us to continue halfway through the story as he droned on about his previous life too much but eventually, we still managed to finish the book. The book also had too many corporate speaking and repetition. Another reason why it was not that useful was that the author talked about the Partners, Guests and having respect almost endlessly but only mentioned about his affair, divorce and his out-of-wedlock child merely. He had not exactly elaborated on the negative impacts in his life. Other than that, the author had also said in his book that he regretted prioritizing his work rather than his family in his younger years but it still seems as if he is achieving more from his work instead of from his new child. We have learned the importance of respect and serving people well from him but we feel that he had not learned how to connect with his children – especially his last child – well enough.

Great Expectations by Charles Dickens Essay - 1291 Words

Great Expectations by Charles Dickens Great Expectations is a novel, which represents class society amongst the rich, the poor and the criminal in Victorian England. Using the life of the main character in the novel, Pip; Charles Dickens challenges issues like youth treatment, injustices in the legal system and the discriminations between the classes. As the novel progresses, various events happen to Pip, which makes him more aware of the reality he is living in. Some of these situations change his attitude towards his life and expectations. This makes him more determined and at times angry and upset. In the beginning chapter we are introduced to Pip and find out that he had lost his†¦show more content†¦The difference in the upbringing between Pip and Estella is evident. Pip, has been brought by her sister the hard and rough way without luxury and wealth. She is constantly ignoring him and the fashion of upbringing has led him to be very sensitive and afraid of her. Estella on the other hand has been brought up in luxury and wealth, which has led her to feel very confident and proud of herself. That is why for example when Estella looks down and disrespects Pip she is not afraid of it because she knows she will not be punished or told off for it and therefore there is noting much to be worried about. However in Pips case if his sister was to hear him do or say anything wrong, he knows that there would be consequences that he will have to pay and therefore he will worry or choose not to do it in the first place. This is a reflection of the way children were treated in the Victorian times. Children who belonged to rich families were dressed up like miniature adults and were seen but not really heard. Children who belonged to poorer families would be working at the age of 5-6 in factories, coalmines or sweeping chimneys in bad exploited conditions, risking their health and life so that they can support their family. These circumstances as we see with Pip and Estella have an impact on their upbringing, which would graduallyShow MoreRelatedGreat Expectations By Charles Dickens1113 Words   |  5 Pagesadventures that the male characters go on. This seems to be relevant in a lot of movies and books like the story Great Expectations by Charles Dickens. In Great Expectations there are multiple female characters like Estella, Biddy, and Miss Havisham who all play a large part in the main character, Pip’s life. One of the first that we meet the character Estella in Charles Dickens’ Great Expectations is when Pip goes to Miss Havisham’s to play with her. The two kids play the game beggar my neighbor when EstellaRead MoreGreat Expectations By Charles Dickens1347 Words   |  6 Pagespoor status of the economy, social mobility does not seem to be occurring at high rates, with the poor getting poorer and rich getting richer. Despite this, social mobility is alive and well, and has been for centuries. In his novel, Great Expectations, Charles Dickens voices the concerns of many that lived in Victorian England during the 19th century by promoting such a desire to live life in a more prosperous social class. One of the most fundamental and reoccurring themes in the novel is that ofRead MoreGreat Expectations By Charles Dickens1426 Words   |  6 Pages Twelve-year-old Charles dickens gets ready for bed after a long day at the blacking house. These Victorian-aged memories will provide him with many ideas for his highly acclaimed novel Great Expectations. Set in 1830 England, Great Expectations is a coming-of-age story about a common innocent boy named Pip and his road to becoming a gentleman through the influence of others. Pip is influenced both positively and negatively by Estella, Herbert, and Magwitch. Estella left a huge impression on PipRead MoreGreat Expectations by Charles Dickens984 Words   |  4 PagesCharles Dickens utilizes his life for inspiration for the protagonist Pip in his novel Great Expectations. They both struggle with their social standing. Dickens loved plays and theatre and therefore incorporated them into Pip’s life. Dickens died happy in the middle class and Pip died happy in the middle class. The connection Dickens makes with his life to Pip’s life is undeniable. If readers understand Dickens and his upbringing then readers can understand how and why he created Pip’s upbringingRead MoreCharles Dickens Great Expectations943 Words   |  4 Pages This is true in many cases but none as much as in Great Expectations. In many ways the narrator/protagonist Pip is Charles Dickens in body and mind. While there are many differences between the story and Charles Dickens life there remains one constant. This constant is the way Pip as the narra tor feels, because these feelings are Dickens s own feelings about the life he lead. Since Great Expectations was written towards end of Charles Dickens life, he was wiser and able to make out the mistakesRead MoreGreat Expectations By Charles Dickens1375 Words   |  6 PagesGreat Expectations by Charles Dickens and The Talented Mr Ripley by Anthony Minghella present similar criticisms of society to a large extent. Both of these texts consider the criticisms of rich social contexts (wealth and status), societal morality (whether a society is good or not. Status [can lead to the wrong people being in a high position i.e. making bad decisions affecting the community/society] Appearance [society appears to be moral/good (if you’re from a higher status) {dickens criticisesRead MoreCharles Dickens Great Expectations1223 Words   |  5 PagesBeloved author Charles Dickens was born on February 7, 1812 in Portsmouth, England. Growing up in a life of poverty, his childhood hardshi ps provided the inspiration to write a myriad of classic novels including his 1861 seminole masterpiece, Great Expectations (â€Å"BBC History - Charles Dickens†). Great Expectations follows the life of an orphan named Pip, who’s perspective of the world is altered when he is attacked by an escaped convict in his parents’ graveyard in the town of Kent. Throughout hisRead MoreGreat Expectations By Charles Dickens924 Words   |  4 Pagesa character driven novel, or a mix of the two. In order for a novel to be character driven, it must revolve more around the characters’ individual thoughts, feelings, and inner struggles, rather than around the quest of the story. Great Expectations, by Charles Dickens, is a character driven novel. While the story does have a plot, it is not contingent upon that plot, but rather is reliant upon its characters and their natures. This is evident from the beginning of the novel. From the opening ofRead MoreCharles Dickens Great Expectations1669 Words   |  7 PagesCharles Dickens He was one of England s greatest authors of the 1800 s, better known as the Victorian era. The various themes and ideas of that time are perfectly showcased in his many novels and short stories, such as Nicholas Nickelby, Great Expectations, Oliver Twist, A Tale of Two Cities, and A Christmas Carol. Much of the inspiration for these works came from the trials and conflicts that he dealt with in his own life. His volumes of fictional writing show the greatRead MoreCharles Dickens Great Expectations1017 Words   |  5 Pagesexperiencer is somewhere else absorbing knowledge of a different setting.This abstract adventure is seized by author Charles Dickens in Great Expectations. Great Expectations is historical fiction giving readers comprehension of the Victorian Era.Upon the reading, readers begin to catch on the intended purpose and its significance. A person who lived during the Victorian Era was Charles Dickens himself.He grew up during a time where differences in social class were to an extreme degree.Dickens went through

Uranium in a Nutshell

Uranium is an extremely heavy metal, but instead of sinking into the Earths core it is concentrated on the surface. Uranium is found almost exclusively in the Earths continental crust, because its atoms dont fit in the crystal structure of the minerals of the mantle. Geochemists consider uranium one of the incompatible elements, more specifically a member of the large-ion lithophile element or LILE group. Its average abundance, over the whole continental crust, is a bit less than 3 parts per million. Uranium never occurs as bare metal; rather, it most often occurs in oxides as the minerals uraninite (UO2) or pitchblende (partially oxidized uraninite, conventionally given as U3O8). In solution, uranium travels in molecular complexes with carbonate, sulfate and chloride as long as the chemical conditions are oxidizing. But under reducing conditions, uranium drops out of solution as oxide minerals. This behavior is the key to uranium prospecting. Uranium deposits mainly occur in two geologic settings, a relatively cool one in sedimentary rocks and a hot one in granites. Sedimentary Uranium Deposits Because uranium moves in solution under oxidizing conditions and drops out under reducing conditions, it tends to gather where oxygen is absent, such as in black shales and other rocks rich in organic material. If oxidizing fluids move in, they mobilize the uranium and concentrate it along the front of the moving fluid. The famous roll-front uranium deposits of the Colorado Plateau are of this type, dating from the last few hundred million years. The uranium concentrations are not very high, but they are easy to mine and process. The great uranium deposits of northern Saskatchewan, in Canada, are also of sedimentary origin but with a different scenario of much greater age. There an ancient continent was deeply eroded during the Early Proterozoic Era some 2 billion years ago, then was covered by deep layers of sedimentary rock. The unconformity between the eroded basement rocks and overlying sedimentary basin rocks is where chemical activity and fluid flows concentrated uranium into orebodies reaching 70 percent purity. The Geological Association of Canada has published a thorough exploration of these unconformity-associated uranium deposits with full details of this still-mysterious process. At roughly the same time in geologic history, a sedimentary uranium deposit in present-day Africa actually grew concentrated enough that it ignited a natural nuclear reactor, one of Earths neatest tricks. Granitic Uranium Deposits As large bodies of granite solidify, the trace amounts of uranium become concentrated in the last bits of fluid left. Especially at shallow levels, these may fracture and invade surrounding rocks with metal-bearing fluids, leaving veins of ore. More episodes of tectonic activity can concentrate these further, and the worlds largest uranium deposit is one of these, a hematite breccia complex at Olympic Dam in South Australia. Good specimens of uranium minerals are found in the final stage of granite solidification—the veins of large crystals and unusual minerals called pegmatites. There may be found cubic crystals of uraninite, black crusts of pitchblende and plates of uranium-phosphate minerals such as torbernite (Cu(UO2)(PO4)2Â ·8–12H2O). Silver, vanadium and arsenic minerals are also common where uranium is found. Pegmatite uranium is not worth mining today, because the ore deposits are small. But they are where the good mineral specimens are found. The radioactivity of uranium affects the minerals around it. If you are examining a pegmatite, these signs of uranium include blackened fluorite, blue celestite, smoky quartz, golden beryl and red-stained feldspars. Also, chalcedony that contains uranium is intensely fluorescent with a yellow-green color. Uranium in Commerce Uranium is prized for its enormous energy content, which can be harnessed to generate heat in nuclear reactors or unleashed in nuclear explosives. The Nuclear Nonproliferation Treaty and other international agreements govern traffic in uranium to ensure that it is used only for civilian purposes. World trade in uranium amounts to more than 60,000 metric tons, all of it accounted for under international protocols. The largest producers of uranium are Canada, Australia and Kazakhstan. The price of uranium has fluctuated with the fortunes of the nuclear power industry and the military needs of various countries. After the collapse of the Soviet Union, large stores of enriched uranium have been diluted and sold as nuclear fuel under the Highly Enriched Uranium Purchase Agreement, which kept prices low through the 1990s. As of about 2005, however, prices have been climbing and prospectors are out in the field again for the first time in a generation. And with renewed attention on nuclear power as a zero-carbon energy source in the context of global warming, it is time to become familiar again with uranium.

Effects Of The Industrial Revolution On Children Essay

Throughout the Industrial Revolution, children were used as workers in the factories. They were put through harsh working conditions and dangerous situations. Many times children working would be hurt because they did the dangerous jobs adults could not do. . They were small enough to fit is tight places, and had small hands that could work in the machines; most of these places adults cannot fit. In addition to this, they were payed very little because they were just children. So, overall they were treated as subhuman and â€Å"used† as workers, instead of being fairly treated as a child. These children never got to live their childhood, but went straight to work. In order to document these harsh conditions and try to bring about reform, Lewis Hine photographed children in the mills. He displayed their harsh working conditions to all people to show that children are not living their childhood. In this paper, I will discuss two photographs that Hine took, each of which were taken during the Industrial Revolution and shortly after. They had the initial purpose of reform, but after much circulation and viewing, became an icon to child labor. These images were seen so much that they lost their ability to strike huge change in the people of America, and because a common image to see. However, these images still brought reform even though they caused desensitization in people. This paper will evaluate two pictures and argue three theories of Sontag. These three consistShow MoreRelatedPositive and Negative Effects of Industrial Revolution Essay1043 Words   |  5 PagesPositive and Negative Effects of Industrial Revolution The Industrial Revolution began in England in the late 1700’s. The Industrial Revolution was a time of new inventions, products, and methods of work. The results of the Industrial Revolution led to many short and long-term positive and negative effects. These results have been assessed from many viewpoints such as the factory workers, the factory owners, the government, and other people who observed the conditions in industrial cities. One negativeRead MoreThe Positives And Cons Of The Industrial Revolution835 Words   |  4 PagesIs the Industrial Revolution as Good as We Think It Is? Bill Gates once said, â€Å"If you go back to 1800, everybody was poor. I mean everybody. The Industrial Revolution kicked in, and a lot of countries benefited, but by no means everyone.† The Industrial Revolution was a period in the 18th century led by Great Britain that had a major influence in agriculture, scientific studies, manufacturing, and transportation. As said by Bill Gates, even though the Industrial Revolution benefited many partiesRead MoreThe Effects of the Industrial Revolution on Society Essay770 Words   |  4 PagesFrank Garrido THE EFFECTS OF THE NDUSTRIAL REVOLUTION ON SOCIETY The Industrial Revolution changed the ways by how the world produced its goods. It was the era when the use of power-driven machines was developed. It also changed our societies from a mainly agricultural society to one in which industry and manufacturing was in control. This had many effects on people’s lives. The Industrial Revolution first got its start in Great Britain, during the 18th century. It was inevitable thatRead MoreWhat Did The Career Lives Of United States Women Change During The United?1535 Words   |  7 Pages This investigation aims to assess the question, to what extent did the career lives of United States women change during the United States’ industrial Revolution? My interest in women of the industrial revolution in the United States, because there are many turning points in the lifestyle of United States women and the Industrial Revolution appears to me to be one of the first steps in the evolution of the roles of women living in the United States. The method used to investigate this life changingRead MoreTaking a Look at the Industrial Revolution1202 Words   |  5 PagesIndustrial Revolution The Industrial Revolution was one of he factors that lead to great development of many countries. The Industrial Revolution’s hearth, the United Kingdom, started the great economic and societal changes that were results of the country’s rapid industrialization. This revolutionary period, lasting from the late 18th Century to the early 19th Century, helped shape today’s world and its effects are still seen. Since the Industrial Revolution was born in the United Kingdom, theRead MoreThe Impact of the Industrial Revolution on Western Society1367 Words   |  6 PagesThe Industrial Revolution had a significant impact on Western society and the effects were numerous and mainly positive. The Industrial Revolution began in England in the 1790’s and spread throughout Europe and eventually to America. The extensive effects of the Industrial Revolution influenced almost every aspect of daily life and human society in some way. During this time period, widespread transportation such as railroads became available and important for the movement of goods and people. AlsoRead MoreEffects of the Industrial Revolution727 Words   |  3 PagesThe Industrial Revolution, lasting between the 18th and 19th century, profoundly affected the people of Europe, North America, and other regions of the world. The revolution produced new exciting technological innovations. As a result, the socioeconomic climate and cultural aspects of Europe and North America were altered in an unprecedented manner. Industrial opportunities also lured the population away from agrarian lifestyles to more urban populaces. The Industrial Revolution extensively changedRead MoreIndustrial Revolution Essay example1295 Words   |  6 PagesThe Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing and technology had a profound effect on the socioeconomic and cultural conditions of the world. The Industrial Revolution b egan in the United Kingdom as large deposits of coal and iron were found throughout the land which brought the rise of factories and machines, the idea then subsequently spread throughout the world. It was perhaps one of the greatest moments in human historyRead More The Industrial Revolution Essay example985 Words   |  4 PagesPeter Stearns claims that the industrial revolution was an intensely human experience. What initially arose as scientific advancements in metallurgy and machine building, the industrial revolution period saw a redefinition of life as a whole. As industry changed, human life began to adapt. Work life was drastically changed which, in turn, resulted in family life being affected. As is human nature, major change was met with great resistant. Ultimately, the most successful people during the transitionRead MoreWhat Really Happened During The Industrial Revolution By: Brianna Taylor Would you like to work1300 Words   |  6 Pages What Really Happened During The Industrial Revolution By: Brianna Taylor Would you like to work fourteen hours a day, six days a week, for little to no pay? While this might seem unreal to us now, this is what working Americans during the time of the Industrial Revolution endured. Not only was it adults working, it was also children as young as three. Now you look at it and think what could a three year old have done? When people running factories just saw it as smaller hands to do things

Microeconomics for Information Economics and Policy-myassignmenthelp

Question: Discuss about theMicroeconomics for Information Economics and Policy. Answer: Issues: Through peer-to-peer (P2P) networking technology, people distribute and share digital media under the process of peer-to-peer file sharing. In recent years, this sharing technology has earned huge debates from different economical perspectives. According to some economists, this process is economically significant as customers are paying money for purchasing music albums through online. However, economical impact regarding copyright violation within a music industry through peer-to-peer file sharing has remained controversial (Askin and Mol 2018). Moreover, economists have also faced difficulties to determine impact of this file sharing on the revenue of music companies. Based on some unofficial studies, it can be said that file sharing has adversely affected this concerned industry by selling records in an illegal way with a comparatively lower costs (Oberholzer-Gee and Strumpf 2016). Moreover, for this technology, music industry has faced difficulties to analyse any trend related t o its demand and supply, for instance, the trend for purchasing a particular form of music through legal sites cannot be determined under the existence of P-to-P technology. In this context, it can also be mentioned that, due to this increasing number of peer-to-peer file sharing technology, many retail music stores have closed their business for inadequate market demand. Analysis: The situation of music industry can be described with the help of some fundamental economical concepts like demand, supply, consumer surplus and producer surplus. According to some research papers based on this issue, it can be said that the demand for music chiefly depends on its price while some other factors can influence this, as well. For instance, other factors like prices of related products, consumers tastes and income can influence the market demand for recorded music significantly (Bacache-Beauvallet, Bourreau and Moreau 2015). However, to measure the impact of P-2-P file sharing technologies on the market for recorded music, some assumptions are needed to consider. Firstly, prices of recorded music have negative relation with the number of C.D purchase. Secondly, prices of CD have a positive relation with the demand for downloaded music through illegal P-to-P market sharing. Hence, CD and illegally downloaded music can be said as substitute products. Thirdly, prices of ill egal music are low compare to the prices for recorded one. Last but not the least, demand for illegal music have increased because people want to listen this freely before purchasing it from market. Moreover, some people only prefer to listen to music by downloading it from online sites. Those assumptions are drawn from the ethical arguments related to the music industry (Leung 2015). On the other side, due to lack of demand for recorded music, many stores have stopped selling CD, which in turn has decreased the supply of this recorded music within the market. Consequently, prices for those products have increased. On the other hand, consumers have successfully received ample amount of music with very limited price or even freely. This in turn has helped these P-to-P file sharing services to increase its demand. In this context, the concept of consumer surplus along with producer surplus can be described. Consumer surplus measures the difference between price that a consumer wants to pay for consuming the product and price that the concerned person is actually paying, which is, market price (Waldfogel 2017). On the other side, producer surplus measures the difference between price at which the person intends to supply it and the market price at which the supplier is actually supplying it to the customers. As consumer can receive music albums with comparatively cheaper prices through file sharing technology, they can receive higher amount consumer surplus. On the contrary, producers can experience loss within producer surplus due this lower price (Aguiar and Martens 2016). Those economical phenomena can be described with the help of suitable diagrams. Position: Diagrammatical representations can help to support the above mentioned situation appropriately. Figure 1: Demand and supply curve of illegal music and recorded music Source: (created by author) The figure 1 has represented demand and supply curves for both illegal music markets and recorded music markets. Through P-to-P file sharing, supply of music has increased significantly and this in turn has helped the price of illegal music to decrease further. Consequently, market equilibrium for this product has increased from Q0 to Q1 while price has decreased by P0 P1 (Handke, Balazs and Vallb 2016). On the other side, demand for recorded music has decreased by R0R1 unit at the given price P. This happens because at a lower price, people demand more amount of illegal music and this in turn has decreased the demand for its substitute item in the market. The above figure can also determine the amount of consumer surplus and producer surplus. According to this figure, initial amount of consumer surplus is the area of triangle ABP0. However, after fall in price, this amount has become the area of triangle ACP1, which is greater compare to previous one. From this, it can be said that consumers get more amount of surplus. On the other side, producer initial amount of producer surplus is the area of triangle EBP0 and after price change it become the area of triangle FCP1, which is greater compare to the previous one. However, those sellers are related with file sharing market while for actual producers, this amount o surplus has decreased due to higher price and comparatively low demand. Critique: In this context of discussion, some arguments can also occur. For instance, people may use P2P file sharing for listening to the music lower costs. If they like it, then they can buy a recorded version of this music. In addition to this, some customers may find that quality of illegal music is comparatively poor compare to the recorded one (Danaher et al. 2014). This situation leads the demand for recorded music to increase further. However, those phenomena are not strong enough against the view of increasing demand for illegal music. Shutting down of some music stores are the main example of this argument. References: Aguiar, L. and Martens, B., 2016. Digital music consumption on the internet: evidence from clickstream data.Information Economics and Policy,34, pp.27-43. Askin, N. and Mol, J., 2018. Institutionalizing Authenticity in the Digitized World of Music. InFrontiers of Creative Industries: Exploring Structural and Categorical Dynamics(pp. 159-202). Emerald Publishing Limited. Bacache-Beauvallet, M., Bourreau, M. and Moreau, F., 2015. Piracy and creation: The case of the music industry.European Journal of Law and Economics,39(2), pp.245-262. Danaher, B., Smith, M.D., Telang, R. and Chen, S., 2014. The effect of graduated response anti?piracy laws on music sales: evidence from an event study in France.The Journal of Industrial Economics,62(3), pp.541-553. Handke, C., Balazs, B. and Vallb, J.J., 2016. Going means trouble and staying makes it double: the value of licensing recorded music online.Journal of Cultural Economics,40(3), pp.227-259. Leung, T.C., 2015. Music piracy: Bad for record sales but good for the iPod?.Information Economics and Policy,31, pp.1-12. Oberholzer-Gee, F. and Strumpf, K., 2016. The effect of file sharing on record sales, revisited.Information Economics and Policy,37, pp.61-66. Waldfogel, J., 2017. How Digitization Has Created a Golden Age of Music, Movies, Books, and Television.Journal of Economic Perspectives,31(3), pp.195-214.

Macroeconomic Case Studies Essays - Inflation, Price Indices

Macroeconomic Case Studies Economics 001A: Macroeconomics Macroeconomic Case Studies Stephen Rossi Economics 001A: M 6:30-9:15 Slowing the US Economy The article titled 'Fed Unlikely to Alter Course' by John M. Berry of the Washington Post takes an interesting look at actions that Alan Greenspan his colleges of the Federal Reserve have been taking over the last 9 months to slow the economic growth of United States. The astonishing growth rate of 7.3% is fueled by an economy that is in the midst of a high tech revolution. The article also explores the contrasting view of other economists that say that the Fed has increased interest rates too much in its attempts to slow the economy. The means by which Alan Greenspan and the Federal Reserve have chose to slow the economy is through a monetary policy, or more specifically, an increase in the national interest rate. The article states that the Fed officials have come to a broad agreement that they will keep raising the rates until growth slows to a more sustainable pace to make sure inflation stays under control. Because of the booming economy and the investment in the stock market the exchange of money has increased for goods and services, which in turn increases the price level or the quantity of money demanded. By increasing the interest rates the Fed commits itself to adjusting the supply of money in the United States to meet that rate at a point of equilibrium. If the interest rate is increased, less goods and services are demanded, and therefore will slow down the economy and reduce the rate of inflation. The article points out that as stock prices have risen over the last couple of years, so have American ho usehold wealth and consumer spending. This is precisely the cycle that Fed officials want to interrupt to slow growth before it fuels more inflation. At the time this article was written the stock market prices had fallen sharply especially in the technology sector. But the Fed continued on the path to raise interest rates further noting that the index that they closely follow and contains a broader rage of public traded US stocks, the Wilshire 5000, is up for the year. Even though they began raising rates gradually 9 months ago, it takes almost a year for the economy to feel the full effects. In this case the results of the interest rates increased could be felt as last as the second half of 2000. Yet the economy has not slowed down, and the demand for goods and services continues to increase as wealth does. One of the ideas that has been presented to Greenspan by the fed officials was to take bigger steps in raising the interest rates. They feel that this will decrease the money demand in a quicker fashion. In turn these actions will lead to lower consumer spending, and thus decrease the inflation rate. However, because of the erratic patterns in today's high tech economy Greenspan is expected to stick to his pattern of more gradual increases to the interest rate. Eventually when monthly loan payments increase enough, consumers will back on purchases and investments. The article points out an example where the rate for a new 30 year fixed-rate home mortgage is up to 8.5% from 7.75% nine months ago in June. In the situation of a $150,000 home loan, this new interest rate will add almost $100 to each monthly payment. Over time the full effect of the interest rates will be felt. One economist, James Glassman of Chase Securities takes a different look at the new interest rate. He points out that the rates that the Fed has set are fairly high in comparison to the rate of inflation as it is currently in the United States. The formula that Glassman follows examines the inflation rate when food and energy items are excluded because they are so volatile. With these items removed the rate of inflation in the US is less than 2%. As with other measurements, this rate can be subtracted from the interest rates to find a 'real' interest rate which consumers a paying. So in terms of 30-year home mortgage rate set at 8.5%, only 6.5% of it is