Nobody downloaded yet

Applying Arguments about Economics and Place - Essay Example

Comments (0) Cite this document
Summary
On most occasions, the poorer a person is, the more stuff he or she own in the US. The phenomenon is attributed to the fact that poor people seem…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER99% of users find it useful
Applying Arguments about Economics and Place
Read TextPreview

Extract of sample "Applying Arguments about Economics and Place"

Download file to see previous pages It gives a detailed explanation of why the poorer people in the United States of America seem to acquire and store more invaluable stuff as compared to the fairly financially stable people.
According to Paul Graham’s article, one of the articles in unit two, the contemporary American market is full of cheap stuff as compared to the traditional America (Paul 1). People used to undervalue stuff and only accumulated only a portion of what they bought and considered absolutely valuable to them. In the contemporary America, however, people seem to overvalue stuff despite the fact that they are cheaper as compared to the traditional stuff. Paul tries to give an explanation to why poorer people are more likely to value stuff with lesser value as compared to the fairly rich people. He explains that he would pick things left by friends when they moved to new homes because he was poor, and useless stuff seemed useful to him. This is an implication that poor feel that they will perhaps make use of stuff in the future despite the fact that the same stuff might be useless to them at that particular moment (Paul 1). That is a confirmation of the uncertain future that the poor face.
Paul further explains that stuff in an illiquid asset and this might only change when one finds immediate use for it. In addition to that, stuff becomes a liquid asset only when one sells the stuff immediately he or she acquires it at a higher price compared to the buying prices. Therefore, stuff that is accumulated over a period of time becomes uneconomical. As a matter of fact, the stuff becomes expensive to keep because it occupies space thereby demanding for storage space. For this reason, Paul explains that it is worth noting that once one does not have immediate use for whatever he or she is trying to acquire, he or she probably never will have use for that object (Paul 1).
The increase of stuff in the markets, both used and new, is attributed to the increased ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Applying Arguments about Economics and Place Essay”, n.d.)
Retrieved de https://studentshare.org/english/1657996-applying-arguments-about-economics-and-place
(Applying Arguments about Economics and Place Essay)
https://studentshare.org/english/1657996-applying-arguments-about-economics-and-place.
“Applying Arguments about Economics and Place Essay”, n.d. https://studentshare.org/english/1657996-applying-arguments-about-economics-and-place.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Applying Arguments about Economics and Place

Behavioral economics & game theory in managerial microeconomics

...and forthcoming forecasting by management. Managers are enabled to make rational decisions on obstacles facing an organization. Thus, formulation of logical managerial decision is possible (Hirschey, 2008). These decisions are imperative component in the working wheel of an organization and business success or letdown is liable upon the decisions arrived at by managers. Integrations of economic theories and management discipline is a necessity resulting from increasing complexity in the business world, spewing greater challenges for managers. This study analysis the place of game theory and behavioral theory in managerial economics in isolation, then integrates them together, in...
10 Pages(2500 words)Research Paper

Eading and Writing about Arguments

...? Reading and Writing about Arguments Reading and Writing about Arguments Attending a service or praying at home is the same Prayersare certainly vital in the life of human beings. It presents a way through which human beings communicate with God. In prayers, one praises and gives thanks to God for the gift of life and health. Prayers provide a means through which a person expresses their gratitude to God for his precious acts. All Christians make their requests to God through prayer and supplication. One should always pray to request for assistance from God. Prayers should always be everyone's first resort since we should always invite God first under various life...
4 Pages(1000 words)Essay

Reading and Writing about Arguments

...? Social Media Introduction Social media is a term tossed around in the current days. It is difficult to define social media; if magnolia, Wikipedia, and MySpace are social media then what exactly is social media. Is it a networking, wiki or a bookmarking site? The proper way to define social media is to segregate it down. Media is a tool for communication such as radio, and newspaper. Therefore, social media is a communication social instrument. Social media interacts with users as they give them information. People should always think of media as a place you can get information like reading an online newspaper, or report listening. Unfortunately, most people have confined abilities to offer their thoughts with such matters. Some... ....
4 Pages(1000 words)Essay

Arguments about oral sex

...Argumentative Paper on Oral Sex Oral sex can be defined as those of activities which use the mouth or the tongue to stimulate external sexual organs. The common terms for oral sex include, going down on, or giving head to a person (Wikipedia 2006). In historical terms, perhaps the most famous case of oral sex came up between Ms. Monica Lewinsky and President Clinton. After that oral sex became a popular topic in the media and it was thought to be a safer alternative to regular sex. However, it can be conclusively shown that oral sex is no where as safe as some people might expect it to be. The only thing oral sex can be considered safe for is if the couple wish to avoid pregnancy (incase the couple in question is...
2 Pages(500 words)Essay

About Micro Economics

...structure, key staff, access to natural resources, experience level, operational capacity and efficiency, brand awareness, market share, financial resources, exclusive contracts, patents and trade secrets, and so on. The external factors involving the opportunity for increased profit margin and the threats of generating devastating situations are the customers, competitors, market trends, suppliers, partners, social changes, new technology, economic, political and regulatory environment, etc. The SWOT analysis carried out involving all the stakeholders of the organization helps improving the quality of the data generated and their future use in the business strategy overcoming the main disadvantage of the technique of...
5 Pages(1250 words)Research Proposal

Applying International Trade Concepts simulation and economics

...Applying international trade concepts simulation and economics International trade involves business transaction among parties from different economies and globalization has facilitated it. Issues that parties must consider before venturing into international trade, however, exist around the type of trade. One of the issues around international trade is the legal environment in which it exists and operates. Being conducted by parties from different countries and owing to the fact that each country has its domestic rules for trade regulations, international trade is subject to the different rules that may be conflicting, or may exist in one jurisdiction and not the other. Consequently, parties to an...
1 Pages(250 words)Research Paper

Evaluating Arguments about consumerism

...Evaluating arguments about consumerism Introduction The consumer society of the contemporary world has been changing with other changes instigated by the urge to climb higher in the social status. On the other hand, others are brought about by the need to cut on daily expenditure. The divergent consumer behavior of people across the globe has, therefore, sparked heated arguments about the rapidly evolving buyer behavior according to economic stages of a locality. This paper gives a comprehensive analysis of an argument about consumerism in relation to two articles, ‘Keeping Up With Gateses and ‘The Year...
4 Pages(1000 words)Essay

Arguments about God's existence

...that a hypothesis can hold a truth value. Therefore, the hypothesis can be a fact or a general truth as depicted by the evidence. The explanation about the existence of God is a subject that has been posited by several theoretical explanations. Some of the arguments and explanations that have been used by scholars to describe the existence of God include the cosmological argument (Taylor, 113), the teleological argument, and the ontological explanations. This paper discuses the teleological perspective that tries to explain the existence of God. it focuses on the arguments explanations and also reviews the criticisms that have been used as a basis...
4 Pages(1000 words)Essay

Views of Adam Smith Concerning Economics

.... This study is aimed at analysing Adam smith’s views and will seek to comprehensively answer the questions, “What is Adam Smiths’ view of economics and morality? And how does this compare with modern economics?” (Costanza and International Society for Ecological Economics, 1997 pp 23, 24) The father of modern economics, Adam Smith, has made writings which are so impacting. His “invisible hand” arguments are applied today to define many types of phenomena, like degradation of the environment and the scientific progress. Mathematicians of the modern day study the aspect of “invisible hand” in the game theory. This is a class of...
11 Pages(2750 words)Assignment

Economics of Public Policy

...provides the delivery of some services while leaving some to be delivered by the private sector. However, some still argue that government contracting is the best way t deliver quality service, despite the fact that history and data seems to indicate otherwise (Sclar, 2001, p.155). At the same time, the role of economic policies is changing and the way the modern governments are applying economic policies is quite different from the earlier methods. According to Barr (2004, p.234) the biggest support for privatization is the argument that when the government involves itself in delivery of essentials services, what emanates is a welfare state. Those who argue in this way...
14 Pages(3500 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Applying Arguments about Economics and Place for FREE!

Contact Us