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Chapter10LectureSummaryandresponses.docxChapter 10 Lecture Summary
Lecture presentation - Chapter 10
The lecture presentation is in the form of a Power Point presentation, basically an introduction to the chapter.
By now you should have viewed the entire presentation. You are to type up an outline/summary of the presentation. Your outline or summary should be no more than 3 pages, doubled spaced. You must use MS Word to type up your assignment.
PEER RESPONSES:
CH 1
DOMINIQUE’S POST:
I have been attending SUSLA since August of 2017. My graduation date would have been December of this year. I was enrolled in the nursing program. Fall of 2020 I dropped out of the program. Looking back, at this time is when I began to apply the scientific method to my life. I had to reevaluate a lot of things in my life. I had to decide, is nursing really for me; is this really what I want to do. I evaluated the things that I felt were hindering my education, such as time management, not having a babysitter, and finances. I sat out of school while I worked to save money to start the program again. I enrolled my children into daycare, and I have begun to manage my time. I came up with a solution to rid myself of those problems. I am now more determined than ever to get back into the nursing program and complete what I started.
JENNIFER’S POST:
I worked for a boat manufacturing company for about five years as a supervisor in different spots and loved what I did then out of the blue one day we find out that we no longer have a job that the company is going out of business, so starts the scientific method applied to my life. The first thing I did was ask myself the question of what next, looked at finances because my husband worked at the same place so he was without a job too, he went back to work at a really good job while I tried to find work for the first three months thru web sites like Indeed.com, Monster.com, and finally laworks.net. while on laworks.net I discovered that they have different programs that you can apply for that will help you to find another job or go back to school to better your education or learn a new trade. I set up appointments with the WFC counselors, which by the way was hard to do because we were in the middle of a pandemic, got a list of schools that were in the program, and started to research what I wanted to do, then what school I wanted to attend. I found SUSLA on the list and decide to do a little research on it by looking at SUSLA.org, facebook/susla.com, and look at some articles that were on usnews.com. After gaining an overview of the school and what they stand for I came to a conclusion. I filled the proper paperwork, submitted the forms that needed to be submitted, and started this new, exciting, very scary next step in my life.
CH 2
TENAE’S POST:
Creative Destruction is getting rid of one product to replace it with a better up to date one, such as CD's going out of style because now you can stream music on different apps from your phone. Self driving car may cause for certain vehicles to go out of style because everyone will want a car to drive itself. It may also take a toll on uber drivers as well.
TANADJA’S POST:
According to investopedia.com, creative destruction is the dismantling of long-standing practices in order to make way for innovation and is seen as a driving force of capitalism. It is mist often used to describe disruptive technologies such as the railroads or, in our own time, the internet. In simple terms, it is when a new invention destroys what came before it. The process of creative destruction is essential fact about capitalism. The idea of self driving cars is to build a car with cameras that can track all the object around it. According to coalititionforfuturemobility.com, automation(self-diving cars) can help reduce the number of crashes on the road and save drivers more money due to low accident-induced costs. Self-driving car ideas were put in to motion to replace the cars/trucks/SUV's that we all use in today's society. They plan to take over as our prime source of transportation. I don't agree with the self driving car industry but in the near future, I see them taking over.
CH 3
LANEISHA’S POST:
My example of a paradox of thrift would be my life dealing with the effects of Covid 19 and the layoffs. With the layoffs came unemployment and an adjustment in the household finiances and a more of a set budget. When you have a change in your household you have to do the things thats more of an importance and a priority over other things. So you have to worry abour bills and food for your household gas in your vehicles and other entertainment. The effect of the pandemic causes a ripple in the economy, where if the spending slows down then we can feel the effects in the entertainment side due to slowness. There will be a slowing down to refuction in hours and employee availaibilty. The type of service offerd when we go to theaters, resturants and grocery stores is all tied back into the pandemic.
JA’QUAN’S POST:
There have been numerous experiences that I have encountered in my life that I would acknowledge as a "paradox of thrift." Considering that this cycle represents individuals actions that have unintended consequences, I would say all of us have experiences in our life that represent this cycle. For example, there have been many of times, this same school year to be exact, that I was not in the mood to study my material. Sometimes, I fell weak to this feeling and decided, because I did not feel like studying that I would not do it. The unintended consequence for that was making a poorer grade on my assignment or exam, for the individual prudent action I decided to take.
CH 7
JENNIFER’S POST:
According to an article from CNBC.com/2020/14/heres-why-this-recession-has-been-diffrent-from-any-other.html
This recession looks so different due to the fact that the 2.3 Trillion dollar bailout that Congress approved took some of the burdens of people but that is only going to provide a short term solution once the stimulus money runs out for some paying rent, utilities, insurance for a vehicle to try and find a job, or to pay someone to keep your kids because the day care is closed or too expensive with no job than you re right back at square one, no money, no job, only this time there is no help coming. The unemployment rate is still high and those that really want to go back to work are taking jobs that they are way overqualified for at a pay rate that still does not allow them to maintain the lifestyle that they had before, therefore they are still having to relocate. It's just a vicious cycle that is going to get worst as time goes along.
Another issue is the price of food and utilities rising and the cost of living not. People cant survive on what they make now. Companies are struggling to stay alive and can't afford to pay more and stay open, but you can't work for what they are paying and manage to keep a roof over your head and food in your tummy. The state is not much help either with all the restrictions and maximums that they have in place.
TENAE’S POST:
Based on the Covid 19 pandemic I do believe a recession could look worse than what it is because even though a lot of people are without jobs and shelter there's still people who's lives improved drastically due to the pandemic, from monthly stimulus checks to even scamming and personal business loans. Many health care workers also received a boost in their salary. According to NY times this is the worse recession as far as job losses.
CH 9
JA’QUAN’S POST:
The impact of Covid-19 in the United States has been extremely substantial. Many businesses have shut down, leading to unemployment of many people depending on these jobs in order to make a living. In fact in April 2020, the unemployment peaked at 14.8% during the highest lowest point of the recession. That has decreased to 5.4% in July 2021, but as you can see, this has been no joke.
The market I would say that has been influenced the most by Covid-19 would be the health industry. Due to many people becoming sick and the substantial need of vaccinations has led to a boom in the need of medical workers and healthcare service. Doctors, nurses, and healthcare workers have never been as important as they are in this day and age.
LANEISHA’S POST:
The pandemic was the hardest recession this world has every faced and will take the longest to recovery from if that is even possible. There was a lot of lives torn apart by this recession and the top 10 business that were impacted by Covid 19 are Public transportaion, Airllines, Food Services, Resturants, Fitness Centers, Healthcare, Hotels, Beauty and Personal Care, Performing Arts, Movie Theaters, Retail etc.. Although we see a rise in the wages in some company's the adjustment is still hard for some due to inflation in 2021.
CH 10
LANEISHA’S POST:
The fundemental reason that the levels of consumption and savings in the United States are higher today than decades ago is due to the downshift of the consumption. This typically involves an equal upshift in the savings schedule because you can only use your money when it comes to consumption or savings. The schedule shifts up due to an increase in savings and reduced consumption declines due to a reduction.
TENAE’S POST:
The exception of the consumption schedule relationship is when there is an increase in personal taxes, after than they both move the same direction.
