RS: THE END

I enjoyed watching the Feyman video. Despite it being only 30 seconds, he made me realize that even the most complex of things can be explained and we can have fun learning it as well . We have to take notice of the things around us, even the smallest things because they help explain a lot. If this theory his father had explained is used to explain economic events today, I would not be surprised. We need to learn to read into things with "no pressure". That is the best way to learn, because then we are ready to learn. One thing I wish I could have done better this semester would be: 1. being on time with my work 2. Applying more macro theory to my RS 3. Reading more of the text-book Although, I enjoyed this classed. It was refreshing and I experienced no pain, so I guess it was a lie when they say that no pain, no game, because I learned a lot and experienced to pain at all (lol). I plan on making a reading list for this summer so that I can prepare my self not only for the next school semester, but for the journey I plan on taking. My reading list will be books on global/local development, economy,etc. This semester was different and I enjoyed it... especially the video's showed in class. I think I'll continue with this blog, because it seems that after reading an article and writing about it helps me to be more intuitive and critical. It also helps with memory, so thanks Prof. R. P.S. if you know of any books you want to refer to me that you know I would find interesting email them!: jeanlouisf@sacredheart.edu

RS: Reflection

After the interviews I realized that the state of the economy presents different opportunities for every individual. Each of the people I interviewed experienced during their time some type of economic distress, a moment when the economy was robust, or financial failings. You can say that our economy subsists by cycling. However, just because two people lived at the same time when the economy was at a certain point, that does not mean they experienced the same thing. Every one lives in different conditions. Some better than others and that plays a bigger role on how someone describes their experience. Also, values play an important part in this as well. After taking the interview, I analyzed my results and realized that some people would find reagan as the best president because of the policies he implemented. Both of my interviewee's found him as the best of all presidents they have known, because at that time the economy was robust, businesses and people were thriving. Although, this may be true, I did not live during the Reagan era. The only thing that I find as a result to his work is the current condition of our society. What I see is a hotbed for capitalist destruction because of Reagan's deregulation on businesses and banks. Again, my values are different, so it makes much more sense tha I would prefer FDR as my favorite.

We also share a common concern as to whether the the economy should be regulated by the government or not. One of my interviewee's grew up around communist ideals and makes sense for him to see that a government regulated economy as not ideal. While the other raised around capitalist ideals believes that the government should regulate the economy. This is not to say that all born in America has the same notion, because we don't. However, the reason for the differences are apparent. how a person perceives the time they live in, how they go about describing their economy and their leaders wil never share the same reason.

Interview: On Economic Generations

1. What president you thought was the best only in terms of economy?
IM1.Clinton
IB2.Ronald Reagan
Me.FDR

2. First memory you have of the economy that effected your life?
IM1.Gas lines in the late 70s
IB2.Late 70's when the price of gas became a problem and inflation was high
Me.Mortgage interest increase

3. Price of gas when you got your first car?
IM1.I remember gas at .79, but it was probably more like .95 when I started driving (in 1986).
IB2.Around 0.50 a gallon
Me. Never had a car. When I first started driving gas went up by 2 and half dollars.

4. When you were young (0-16) did your family rent or own
IM1.Owned
IB2.Owned
Me. Rent

5. What city changed the most both good and bad?
IM1.I suppose NYC changed the most. Detroit—I’m from Michigan—hasn’t changed for the better at all.
IB2.Los Angeles
Me.NYC

6. Do you know anyone who joined the military because they could not get a job?
IM1.No
IB2.Yes
Me.No

7. What is the price change in your life you considered to be good?
IM1.Anything related to music—listening, recording.
IB2.Price changes for personal computers
Me. I do not have one, but Borders Marketplace is a life saver though since the used books are significantly cheaper than the new ones

8. What was your best year? and how well was society doing?
IM1.The mid-90s were a breeze, and things seemed to be looking up in the summer of 2008.Now—not so much.
IB2.1981. We could get 20% returns on CD's
Me. early 2006 and 2009

9. When did you get your first credit card?
IM1.1988, when I was 18, most likely.
IB2.1979
Me.2009


Likert Scale questions: ( yes, some-what, I don't know, no)

1. Government should regulate the economy:
Interviewee M1: Yes
Interviewee B2:Some-what
Me:Yes
2. In 6months the economy will get better:
Interviewee M1: Some-what
Interviewee B2: NO
Me:No
3. The recession personally effected me:
Interviewee M1: No
Interviewee B2:Yes
Me:Yes
4. We should invade Iran:
Interviewee M1: No
Interviewee B2:No
Me:No
5. I am well informed about economic news:
Interviewee M1: Yes
Interviewee B2: Yes
Me:Some-what

RS: Gold Standard

After listening to the pod cast, I realized that there are flaws with both the gold standard and the modern use of money. Back then gold had a real face value. It was not a representation of anything, but its gold value. However, with paper money, we can print out as much as we deem necessary with out the sufficient amount to back what we make. But I found that route inevitable because of globalization. There is only so much gold to go around the world and I assume that eventually (like any fate of an economy) people began to look for efficiency. Paper money not only allowed people to multiply there wealth it allowed people to promise to others what they did not have. So the supply of money will only increase as the demand for it increase and this only leads to an unavoidable dilemma-- recession. However, there is a bit of contardiction here. The podcast mentioned that the transition from gold to paper was to increase living standards, yet when the Fed decides to play with money by devaluing it, standards do increase, but it becomes ideal. It does not become a standard we can acheive but a standard we want to achieve.

I now understand what is meant by a global recession. Imagine the entire world buying and selling on paper money knowing that they do not have enough gold to back what is being loaned. The demand goes up, we print out more money, produce more commodities, and go on thinking life can't get any better, but things can only get worse. Our dollar has lost it's value, we can't pay back our debts, business operations halt. We are experiencing a perpetual stagnation. A little dramatic, but I can see this happening in little cities and town we thought never existed. Knowing that everything is connected, it wouldn't take long for it to have a national or even international effect. This isn't news of course, since we are amidst one of these recessions today. Now I'm asking how come no body ever saw it coming?

RS: The Warning: A War on Regulation

Watch The Warning on PBS. See more from FRONTLINE.

The role and function of the institutions that are an integral part of the systems that aid the operation of the government are to protect society, as Born puts it. However significant these institutions are. the people who leads their daily operations are infact fallible. The men on Wall street are called Geniuses and Wizards, yet they move and influence according to ideologies that puts society on a threshold for failure. Today, we have more reason to be afraid of these agencies. It's really frightening to find out that an extension to our current market structure exists and that it not only operates in total darkness, but has the power to stagnate and cripple our financial and economic structure. The dealings of ODC derivatives are not only unregulated, that market purposely and obviously makes the entire system vulnearble to fraud and injustice. It makes it possible for one company to lie and indirectly steal, to better their positions. There are no ethics

             The problem is that the government is afraid to deal with something that it is uncertain of. They do not understand the intricacy that lies between the dark market and the one we operate in daily. No ne one is willing to be a "Born" again.  Under common and criminal law, if a seller sells a defunct product, lies, and purposely misleads the buyer knowing fully well the buyers expectations are improbable, the seller stand to be legally dealt with and fined. The derivative market operates like this and needs to be dealt with in the same manner. The thing with this is that, with banks opearting unethically, the effects are a hundred times worse. And the question now seems to be who will cover the mess? yes Ayn Rand and her pupile Greenspan were wrong. When the public fails the government intervenes. The new agenda of the government is to further the ambitions of the rich, since they are the ones sitting in congress, head of councils and agencies. This is America's fight and has always been. A fight between those with influencing wealth and power to shift policitics and macro-policy and those who wants to protect public's wealth.

RS: Regulators Mount Up: Commanding Heights

How an economic system operates in a society and how the functions aid shaping external events are due to current conditions. All systems are fallible, what truly matters is those in power to change it and operate it. If the country passes a policy that has an adverse effect, it is our fault for not learning the intricacies of a system that enables us to further our ambitions as a nation and individuals of society. Capitalism is not perfect. In the capitalistic society we find contradictions left and right. Power straddles the side of those who have money and political influence. The poor remain poor until luck catches up with them and others become wealthy through the struggles and loses of other.

Marx was a benefactor of the whole "Down-with-capitalism" thought. Marx, was a socialist and he abhorred the thought that people were suffering in a capitalist soicety because power and money layed in the hands of a small and selected few. His remedy to capitalism was socialism. Marx forsaw the consequences of capitalism, but failed to prophesy the failings of a communist state. A state where wages and prices are fixed at the governments discretion, he failed to notice that while wealth and power was distributed according to the government, no system can curb the natural and innate behavior of men with money and power. Thus, a communist society gave the government too much power and the government in affect capitalizes off the wealth of the state.

According to Keynes, Capitalism can not grow and subsist with out equal spending and investment. Years ago before the Western world latched onto Keynes theory of aggregate demand, we rested our hopes on doubitable economic theories such as Say's law, blindly followed Smithonian theories and Marshall law until Keynes offered his theory to the quailing world. In 1914, WWI was the effect of kingdoms expanding and changing, turning into nation-states vying for power. The world went to war, but everyone was ignorant to the economic affects of war. After the war, the great powers meant and decided the faith of Germany (Treaty of Versailles). This treaty was meant to strip Germany naked. As Keynes had put it before he left the treasury,we cannot expect a nation that is practically collapsing to produce nor give more than what it has left. A failing nation has nothing to offer; Germany lost its security, defense, the confidence of its people (people dying and barely living, and resources.

Thus, the hoarding among the few nations against Germany was what brought about WWII, Germany we find would not be defeated. Although, Keynes believed that war was a great way to prime an economy, I do not think he would be against another war. His answer as to how to aid those who took the heavier blows of any war would be government intervention

Throughout history, we find something of economic value in every event taken place. For example the cold war, a war (non-physical) between the U.S. and the USSR over ideologies that determines the functions of not only the economy but the government. To the communists, Capitalism was seen as a system meant to steal from its own people, hoard the wealth, and further the United States imperialistic ambition under the umbrella of capitalism. Capitalists viewed communism as an atheistic notion, a threat to democratic ideals.

Vladimir Lenin (Russian Leader) had believed that all conflict was the outcome of imperialistic ambition. He had thought that by building a communist state it would stop imperialism. Vladimir Lenin’s ideology:

1. Capitalism leads to unlimited competition
- An economic system in which wealth & means of producing wealth are
privately owned (Government interference is very limited/Free Market Economy) eventually this wealth would be too concentrated
- In international society unlimited competition necessitates Expansion of
Markets;in which more countries are required to market products, which leads to imperialism

To have access in other countries markets, countries Imperialize and that leads to

Communism: Egalitarian state (based on all are equal). It is a classless and stateless society. Based on common ownership and controlled of the means of production.


These two supreme theories shaped our world and everyday decisions. There has always been a misconception on both parts. In the end both would try to expand there elite notions for political notions and especially economic. Globalization connects us all, it connects us in so many ways that we fail to realize how one act can have a ripple affect. Globalization has allowed nations to thrive through the aid and political connections we have with each other.

RS: Not Everything Sucks

Peter Diamandis mentioned that the world is in fact getting better and stronger. With the growth of technology, lower childhood mortality, etc we are progressing, yet the human race consistently tries to redefine wealth and poverty. Although I think this is true, I believe that progress in the human world is proven by how we use and react to newer and better technology. If things are better why are standard increasing? as he said it's a matter of perception; he is right in that and so I believe that in reality that standards change because economies and politics change. For example if the currency in Africa inflate, we will see the "real" affect of that. Thus, poverty increase, investment decrease, people save less, this effects development, and this leads onto a chain of affects (internationally). That is real.

In comparison to a century ago things have optimistically change, but I do not entertain the notion of the world reaching the pinnacle of greater health and wealth (this includes underdeveloped countries). I believe that the world in the near future will experience a severe duality. Meaning that while we try to move away and lean less on the natural economy, while be put our efforts on subsisting through technology, we cannot fully disentangle our selves from the consequences of our action towards nature/resources, lives, etc. I don't mean that we will fail and never see the rays of the sun, but that there are things that we can never fully disentagle ourselves from, due to the intricacies of the the systems we built.





Hans Rosling's video is amazing. Although, I think it went by too fast and it was oversimplified, he used the graph to explain the growth of countries from what they were to how they are today by naming the point of change for them. Basically in one whole paragraph he tried to name all the possible factors that affect the growth,the conflicting factors that stall some countries from moving at the same rate or up than some.

A Time for Reflection

My strongest memory from this class so far would be the learning approach. In order to learn an economic concept, we approach it in a way that allows us to not only understand the use of it but how to apply it in reality. This is what I believe most instructors forget to remember. So not only do I know the definition of CPI, GNP, and GDP, but I also have been given the opportunity to apply it and use it in practice, to an extent.

My strongest memory of an economic concept would be CPI because the research method was unexpected, as well as the fact that the concept applied to many areas of economic analysis.

My favorite topic would be the Ken Robinson video on "Schools Killing Creativity, because I can relate to it and because this is a recurring problem that society has yet to take notice of. I also think that this was one of my best work on the RS so far.I felt it was insightful and it was a relative topic that I could freely express myself in.

What I found out about myself from this class is that I have a lot more to learn and therefore a change of attitude (positive) could be a progressive step into doing much better. From writing the specials to doing the in class activities, I realize that a stronger sense of independence is required, but group work can be just as effective. I would like to apply more economic concept to situation analysis for the RS. I believe it would be a cool experimentation that would not only allow the individual to realize their strengths but their weaknesses, for the sake of challenge.

Somethng About CPI

I learned that the CPI is a very important indicator on how well people are doing in the economy. It is related to social security, education, salaries, etc. If you learn the CPI number ahead of time as the audio said that person can take a gamble and make a lot of money off that little information. What the index does is measure inflation in the US. Meaning that a person who wants to know where to invest and when, all they have to know is the fluctuation in the price index of commodities. There is also something called the core CPI such as food, oil, and clothing. These commodities that are part of the core CPI let us know where prices need to be stabilized.It also let us know where the average American is spending their money. These price indices also works as a dependable info source as to when we are experiencing an inflation or deflation. I also learned that prices are collected by price collectors periodically. After the prices are collected by the 450 representatives a CPI is formed and "can be used to index the real value of wages, salaries, pensions, for regulating prices and for deflating monetary magnitudes to show changes in real values".

GDP: True or False

The gross domestic product is a simple calculation yet complex in understanding. Before knowing the intricacies of GDP, I thought it was a measure of the country's wealth. That its purpose was to appropriate the countries production into a useful number. However, it isn't only that. After watching NPR's video "What is GDP" I found it cool how they found specific indices to total up the country's wealth in a given year.  This method specifies that only goods that are considered to be final goods and services are to be among those that are counted in the GDP. For example, if a steel beam is made, it is not counted as a finished good, until it is bought and used. When that happens the value of a product is appropriated to be apart of the GDP. Items such as the antique Victorian houses under the George Washington bridge till today ae not counted as a product of the GDP when it is bought and sold; rather they add a rent value to the GDP. Economist determine what the buyer would pay in terms of rent and add that to the GDP.

However, this is all an estimate and do not accurately project the country's social structural economy. With the GDP one can determine the per capita rate, but this is a disadvantage because it does not show you detailed and imporatnt informatin such as the number of people living in poverty, the true cost of living, and last but not least the concentration of economic power among the people of that country. Although the GDP is used as an indicator to measure a country's and its peoples wealth, it can be misleading. Dean Baker, co-director of the Center of Economic Policy Research was also inclined to admit the arguability of the GDP measure. He said, "We spend 17 percent of GDP on health care, whereas the average across Europe is less than 10 percent GDP. What do we get for this extra 7 percentage points of GDP? That is not obvious to say the least. The U.S. ranks behind every West European country in life expectancy and does not stand out in most other outcome measures".

We may have a nice figure when it comes to GDP and per capita, but this tells us nothing as to wealth of an average individual. All this tells us is the of the current development and progress or regression of an economy. So how accurate is a GDP when a country can't bail its self and its people out of debt?how important is a GDP when it is at odds with the standard of living? GDP only tells the health of an economy by means of production and its tall tale towards a robust economy.

For more info you can read this: http://www.npr.org/blogs/money/2012/01/10/144914762/why-gdp-per-capita-can-start-a-bar-fight

RS7: It's Time to Imagine

     The anxiety that comes with being a student is common. Pressure comes in all forms until one decides that creativity is not as important as knowledge. However, I belive that the education system has failed in realisisng that students today are suffering because they are in fact afraid to fail. Failure, though not looked upon with a smile, is a necessary step to mental/psychological and character development. Who we are is important, but it's just as important to who we could have been if we allowed our true talent to flourish. From personal expereince, I have been through the stage of disregarding my own artistic talent in order to flourish academically, but I never fail to return to it. Thus we are failing to integrate knowledge and learning with the one thing that ensures us a better future, a new world, and a better way to sustain the world. Creativity.

     If students are afraid to let their creativity take control, then this is a sure sign that teachers as well as parents suffer from anxiety.... a social and personal anxiety; for if the issue is that parents and teachers are afraid to let the youth fail and learn from it, it means that they are also afraid of how this will cast upon them. Ken Robinson said that intelligence is diverse and comes in different colors and I blieve this.

     Mozart was not an academic genius but he was novel item in his time. At the age of 4 he composed his own music and played both the piano and violin. Ghandi a legend and great historical leader excelled in academics, before becoming an icon, he was a lawyer. And after realizinng the suffering of his own people, he used his talent and led them to independence. A  young Irish actress named Saorsie Ronan began acting at the age of 4 and today she plays in the big screen and continue to amaze the mass with her gift.

       Parents want their children to be successful. They believe the opportunity cost of going to college and becoming a doctor or lawyer is better choice than becoming a tireless dancer on broadway, but success does not have only one door open. It has many. And if at a young age we can't learn to be honest with ourselves we make losing ourselves possible.

RS5: A Most Vulnerable Market; The Financial Market amidst a Push and Pull

Within 10 minutes of watching "The Meltdown" I realized how vulnearble the financial markets are. Especially, financial institutions that go all out and invest heavily. However, what caught my eyes is that a rumor can effectively bring down a robust firm in its prime, because when one investor pull out due to suspicious and groundless rumors, all of them pull out, despite the truth.

The Financial market runs on supply and demand. If a stock is in demand then the firm selling those shares have an increasing share value, but if more people want to sell shares rather than buy, we experience a seller surplus and declining share values. While watching this video, I realized that determning the survivability of a firm with the external, depends on the investors attitudes and expectation.

The financial market is a support system for investment firms. If one supporting leg crumbles, the burden of the rest of the legs will increase, and they will wantt o dispose of their load, in this case invest a lot less or retract their offers and money. What caught my attention is that Bears probably had no financial diversity, the eason why they completely collapsed was because they invested so heavily in the mortage business, that forgot to play it safe.

RS4:The Secondary Effect of Money in Politics

This article is my take on "A Former Lobbyist Tells All" by Jimmy Williams. This article was on the February of 2012 edition of NPR. click here to listen to audio.

If money was banned in politics where would it all go? what would happen to the political system if there was no money flowing in and out of it. Many say that the legislative process is corrupted because of money. The cost of having no money in politics may be as much of a problem as having no money in politics. The reason for that is because the money used in campaign financing is used to supply voters with information on candidates. Although, we all know that information that is used to gain the attention and interest of voters are usually distorted, but none-the-less, money may not be the problem here.

What needs to be fixed is the structure of the organization. Money cannot be fully removed from the game of politics or in this case campaign financing because, Message = Money. To spread the word, to hire people to get this message across (media outlets), to gain the support of possible allies, is expensive. What we need to do is draw a line on how much and what is being lobbied. A threshold must be supplied, because politicians and lobbyists can lobby anything to further their own agendas in order to put money in their pockets. The financial structure in politics needs to be reorganized.

Politicians have fundraisers, PAC's, and individual donors who raise money for them, but how can we make sure that all of is audited. The thing about the structure of the whole thing is that a person needs money in order to run a campaign or even be considered a candidate. People without financial support to begin with are clear out of the line.  Although, this is said to be regulated and institutionalized, because there is a necessity of money in political races and that the first amendment protects money in politics that does not mean that overt laws are not necessary to prevent as much corruption as possible. Too much money in politics makes it a spectacle, so the rules need to change in order to change the outcome.

How can you trust of system of lawmakers where they run a system that is filled with so many inconsistencies. You can access this video to further explain how a campaign finance work.

RS6: What Temperarment Are You?

Your Keirsey Temperament Sorter Results indicates that your personality type is that of the

Rationals are the problem solving temperament, particularly if the problem has to do with the many complex systems that make up the world around us. Rationals might tackle problems in organic systems such as plants and animals, or in mechanical systems such as railroads and computers, or in social systems such as families and companies and governments. But whatever systems fire their curiosity, Rationals will analyze them to understand how they work, so they can figure out how to make them work better.

In working with problems, Rationals try to find solutions that have application in the real world, but they are even more interested in the abstract concepts involved, the fundamental principles or natural laws that underlie the particular case. And they are completely pragmatic about their ways and means of achieving their ends. Rationals don't care about being politically correct. They are interested in the most efficient solutions possible, and will listen to anyone who has something useful to teach them, while disregarding any authority or customary procedure that wastes time and resources.

Rationals have an insatiable hunger to accomplish their goals and will work tirelessly on any project they have set their mind to. They are rigorously logical and fiercely independent in their thinking -- are indeed skeptical of all ideas, even their own -- and they believe they can overcome any obstacle with their will power. Often they are seen as cold and distant, but this is really the absorbed concentration they give to whatever problem they're working on. Whether designing a skyscraper or an experiment, developing a theory or a prototype technology, building an aircraft, a corporation, or a strategic alliance, Rationals value intelligence, in themselves and others, and they pride themselves on the ingenuity they bring to their problem solving.

Rationals are very scarce, comprising as little as 7 to 10 percent of the population. But because of their drive to unlock the secrets of nature, and to develop new technologies, they have done much to shape our world.

Rationals at Work
As a Rational, you seek to acquire and apply expertise. You thrive in an autonomous and intellectually stimulating workplace, working alongside other competent people, pursuing knowledge or creating systems. Your core need to follow the driving force of your own intelligence leads to particular career challenges. For example, recognition of your expertise may lead to your being put "in charge" of other people, as a manager, when you might prefer to remain immersed in projects of your own.

You are fascinated with developing strategic plans for others to use. In your preferred environment, you work behind the scenes while someone else takes the active leadership role. Often, you are driven to step in as leader when you become impatient with the way a project is going. In your ideal job, you independently analyze systems and make recommendations about how objectives will best be reached; someone else does the work of delegating work, motivating people, or enforcing work duties. You want challenge in your work and become frustrated when asked to merely follow routines, especially if those routines are inefficient.


Guardians® (SJs) are the cornerstone of society, for they are the temperament given to serving and preserving our most important social institutions. Guardians have natural talent in managing goods and services--from supervision to maintenance and supply -- and they use all their skills to keep things running smoothly in their families, communities, schools, churches, hospitals, and businesses.
All Guardians share the following core characteristics:

• Guardians pride themselves on being dependable, helpful, and hard-working.
• Guardians make loyal mates, responsible parents, and stabilizing leaders.
• Guardians tend to be dutiful, cautious, humble, and focused on credentials and traditions.
• Guardians are concerned citizens who trust authority, join groups, seek security, prize gratitude, and dream of meting out justice.

Guardians can have a lot of fun with their friends, but they are quite serious about their duties and responsibilities. Guardians take pride in being dependable and trustworthy; if there's a job to be done, they can be counted on to put their shoulder to the wheel. Guardians also believe in law and order, and sometimes worry that respect for authority, even a fundamental sense of right and wrong, is being lost. Perhaps this is why Guardians honor customs and traditions so strongly -- they are familiar patterns that help bring stability to our modern, fast-paced world.
Practical and down-to-earth, Guardians believe in following the rules and cooperating with others. They are not very comfortable winging it or blazing new trails; working steadily within the system is the Guardian way, for in the long run loyalty, discipline, and teamwork get the job done right. Guardians are meticulous about schedules and have a sharp eye for proper procedures. They are cautious about change, even though they know that change can be healthy for an institution. Better to go slowly, they say, and look before you leap.
Guardians make up as much as 40 to 45 percent of the population, and a good thing, because they usually end up doing all the indispensable but thankless jobs the rest of the population takes for granted.

RS3:.....

The results of Faustine Jean-Louis's learning inventory are:
Visual/Nonverbal 24 Visual/Verbal 30 Auditory 22 Kinesthetic 28
Your primary learning style is:

The Visual/ Verbal Learning Style

You learn best when information is presented visually and in a written language format. In a classroom setting, you benefit from instructors who use the blackboard (or overhead projector) to list the essential points of a lecture, or who provide you with an outline to follow along with during lecture. You benefit from information obtained from textbooks and class notes. You tend to like to study by yourself in a quiet room. You often see information "in your mind's eye" when you are trying to remember something.

Learning Strategies for the Visual/ Verbal Learner:

To aid recall, make use of "color coding" when studying new information in your textbook or notes. Using highlighter pens, highlight different kinds of information in contrasting colors.

Write out sentences and phrases that summarize key information obtained from your textbook and lecture.

Make flashcards of vocabulary words and concepts that need to be memorized. Use highlighter pens to emphasize key points on the cards. Limit the amount of information per card so your mind can take a mental "picture" of the information.

When learning information presented in diagrams or illustrations, write out explanations for the information.

When learning mathematical or technical information, write out in sentences and key phrases your understanding of the material. When a problem involves a sequence of steps, write out in detail how to do each step.

Make use of computer word processing. Copy key information from your notes and textbook into a computer. Use the print-outs for visual review.

Before an exam, make yourself visual reminders of information that must be memorized. Make "stick it" notes containing key words and concepts and place them in highly visible places --on your mirror, notebook, car dashboard, etc..

Should The Music Industry Be A little More Thrifty?

This blog post is my take on the article “Katy Perry's Perfect Game” by Zoe Chace. This article appeared in the Janauary 2012 Podcast of Planet Money.

                                                          Catch the audio here.


       We all watch TV, support our favorite artist by buying their album, and some of us wish we were the guy sitting on the chair watching the money pile in when his artists single or album hits number one on the charts. However, the economics of the music industry isn't so much of a sweet deal. Planet Money's audio titled "Katy Perry's Great Game" shows usthe inside and out of the music industry. How they lay all in hopes to get a little more, but the question seems to be "Is it all worth it?".
Thus, the industry isn't playing well at all in its own game. What they should do is invest to protect their own investment.

        The music industry, for that few who are left, knows how to gamble, but with only three major music companies left, I guess not all of them knew what they were doing, but who can blame them. With the genesis of the internet, the industry had to take out their pail and shovel and go on an excavation. They needed to find better ways to promote and market that little square case in hopes of getting what they lost with the coming of the internet.

         The problem today seems to be that so much effort is being put in yet the gains are small in comparison. In basic economic theories, it is known that if a company makes less than its total variable cost than it should shut down in the long run. It seems to me that if a music label puts out "substantially" and gets a "I'm not sure... maybe" when asked if they made a lot of money, there is a need of financial reorganization. My remedy to this situation need of new legal advising, less extravagence, because sending a pricey painting of Katy Perry to a radio station before the music airs or hits # 1 is indeed the epitome of a hazard-loser.

          So why invest in a product where the cost is substantially higher than the profits? it's called taking what you get. In economics its called opportunity cost. In the music industry the company rather make 8 million dollars out of a 44 million dollar revenue, than make none at all. So, this has everything to do with economics and with economics it is a given that we will always find our self playing with chance. It's the job of the industry to go out and do as much venture as possible, but at the same time economize. It's their duty to project, estimate, and calculate the success of their product before it enters the market.

But there is so much to consider. Lets look at the trickle effect of such planning. If the music industry is not making more than it put out. In order to preserve they will have to cut back in several business components, such as employees, suppliers, etc. You cut back in employees you cut out your innovation source and you put more people back in the unemployed list. Which has a tremendous effect on the overall economy. This is just the beginning because if you lose your creative source, you need more austerity measures, and eventually you'll be cutting back on artist promotion.

In conclusion to truly preserve before things get critical, the industry needs to re-cut the pie. Meaning that they need to make certain that they make more than they bargained for. They should do what any music industry needs to do, but at the end of the day running a business efficiently and forecasting your own sustainability should always be accounted for

So till then the means is the end in the music industry.

The Cream of the Crop: The Pillars of Success

  

       A common question for people today has been "How can I become the best of the best?" "A genius in my field?" "The cream of the crop?". These questions pound at us everyday. At school at work, even when we're taking the bus.  A series of scientific attempts at delving into the human faculty and the so called genetic endowments of individuals claimed to be a genius, it must be genetically inherited. Does this claim disinherit the mass of the fruit of their labor? I believe so. For as the article has said "geniuses are not born, they are made". Geniuses do exist; the possibility of it being in any person is not impossible, but the probability is low. However for several reasons not including genetic inheritance. This means that the poor man who you find sleeping under the bridge every night, the kid that everyone had said since child hood was talentless, and even in you lies an 'Outlier'. However, such things do not happen without constant persistence. After reading this article, I concluded that success in general and to be dubbed "genius" one must understand the pillars of success.This will be only an interpretation of the article read.

           The first pillar into being a genius is Fortitude. The reason why fortitude is a pillar is because we have been witnesses to great people who grew up under unexpected circumstances, who weren't stamped with a high IQ, yet became a genius in every way.  Professor Ander Ericsson, a psychologist at FSU has made his opinion clear in the article. To Professor Ericsson, genius has a time and place. It grows under the most astonisshing circumstances, because it isn't a high IQ score that makes one accomplished. It is their fortitude under these unexpected circumstances. "It hapens because some critical things line up so that a person of good intelligence can put in the sustained focused effort it takes to achieve extraordinary mastery", Ericsson says, "These people don't necessarily have an especially high IQ, but they almost always have have very supportive enviroments.... with an incredible investment of effort".

        The second pillar is self-mastery. A person must allow them selves to grow and not chase after the success of others. Everyone has a secret skill that works for them and them only. Meaning when you are facing your opponent you do not attack him or her with the same attacks he used on you half a second ago. One only needs a strategy that works for them. Eventually self-mastery leads to security. For now weaknesses and stregths are understood. Self-mastery involves practice and mentoring. By developing oneself, they have a better mindset that will lead them to their objective.

      The third is the application of skills. Dobbs explains this through cognitive skills. He says that a genius must learn chunking. This is the ability to " group details and concepts into easliy remembered patterns". This does not come eaily, but it comes with a lot of practice. For example, Dobbs mentions reading where "we all exercise our clustering skills as we read", but the difference between an individual attempting to better his skills and one not, is that the latter is not aware of his inability to group or conceptualize. The one who is aware and attempts to fix becomes the master. The second skill involves clustering. Clustering is the ability to assign a set of objects into groups. A person cannot be intelligent if he does not know how to apply what he as learned; a person must learn to apply what he or she has learned to varible situations.

       The three pillars I mentioned are without a doubt necessary to succeed, but the list is not limited to them. Finding fortitude, developing a positive disposition, and building ones skill set is part of the journey in becoming a genius in your own right. A president of the United States once said "Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan 'Press On' has solved and always will solve the problems of the human race". What more is need to be said than that a genius lies in everyone  but what we lack is perseverance. A number cannot dictate your future, when you change it change.