Being a business major, I knew many of the economic concepts before coming to this class, I think these tools are very helpful in understanding how the world works, but for me they were not the most helpful. I think the thing that is most directly applicable about this class in understanding how the world works are the little things you learn about each country. Looking at the many different customs, traditions, behaviors and even stereotypes of many countries has showed me how each country is a unique experience. Looking more into Scotland, a country I have never been to, has showed me how neighboring countries, with similar histories can be very different, when comparing it to England, a country I have visited often. I really enjoyed learning and teaching the class about how these "countries," might not be considered countries at all. I think knowing that when you get to a new country there will be so much you don't know, and so much to learn, and mistakes will be made will make me a better traveler. I look forward to visiting new countries and learning these little things about them.
As I stated above, I am certainly interested in learning about other countries as I travel, but a specific topic from the class that I enjoyed was the economic geography of cities and countries. I remember making a map of campus and realizing that I completely forgot to incorporate Dow and the swimming pool, into my map, places I rarely visit. I found it interesting how students in the class included and excluded different things on their maps. I also enjoyed learning about how cities are laid out, and how this has changed with technology, transportation, and development. It is cool to think that I live so close to a national metropolis (Chicago), the biggest place in Central Place Theory. I would enjoy learning more about these things outside of class.
My advice to a student considering talking this class is that it is incredibly helpful if you are planning on going abroad. I feel as though I learned a lot about the country I plan on going to, as well as valuable information on how to travel, and what to expect from travel in general. The topics and concepts covered in class are interesting and fairly easy to grasp. I would advise a potential student to participate more than I did in class discussion. I would say that discussion was a particular weakness of mine, and that it would have been valuable to participate in the discussions more. Overall, I would recommend the class to a student considering it, especially if the student is interested in travel or wants to learn more about their study abroad country.
Friday, June 7, 2013
Wednesday, June 5, 2013
In Scottish News #5
I read an article titled "Scottish independence: What are currency options?" in a Scottish newspaper called The Scotsman. The article can be found HERE.
This article discusses the currency options for Scotland if they were to become an independent nation. Currently, Scotland is part of the United Kingdom and uses the british pound sterling. If the referendum, in which Scotland votes to break away and become independent or remain a part of the U.K., is in favor of independence, Scotland would need to decide which currency it will use. The article outlines three main options. The first is for Scotland to adopt the euro. This would mean the European Central Bank (ECB) would determine monetary policy, such as interest rates for Scotland, and Scotland would be entitled a governing council of the ECB. Another option discussed in the article is retaining the british pound. This would have to be through agreement with the U.K., in which likely Scotland would not have much power of monetary policy concerning the pound, or through dollarisation. The final option for Scotland would be to adopt its own currency which would likely fluctuate around the british pound.
As the vote on the Scottish referendum draws closer and Scottish independence becomes a viable possibility, much though should be given to the currency of Scotland. The choice of currency would be the most important economic decision for the country. If Scotland were to adopt the euro, the exchange rate for this country would already be in place and would depend on all the countries in the eurozone. One reason Scotland considered adopting the euro early on was to express a powerful declaration of Scotland's economic independence.
This article discusses the currency options for Scotland if they were to become an independent nation. Currently, Scotland is part of the United Kingdom and uses the british pound sterling. If the referendum, in which Scotland votes to break away and become independent or remain a part of the U.K., is in favor of independence, Scotland would need to decide which currency it will use. The article outlines three main options. The first is for Scotland to adopt the euro. This would mean the European Central Bank (ECB) would determine monetary policy, such as interest rates for Scotland, and Scotland would be entitled a governing council of the ECB. Another option discussed in the article is retaining the british pound. This would have to be through agreement with the U.K., in which likely Scotland would not have much power of monetary policy concerning the pound, or through dollarisation. The final option for Scotland would be to adopt its own currency which would likely fluctuate around the british pound.
As the vote on the Scottish referendum draws closer and Scottish independence becomes a viable possibility, much though should be given to the currency of Scotland. The choice of currency would be the most important economic decision for the country. If Scotland were to adopt the euro, the exchange rate for this country would already be in place and would depend on all the countries in the eurozone. One reason Scotland considered adopting the euro early on was to express a powerful declaration of Scotland's economic independence.
Saturday, May 25, 2013
EGT Consulting Summary
Scotland seems a logical place to start a new business. Start up procedures are fairly low, there is little corruption and the overall business climate is good. There is also the necessary infrastructure in place for shipping of vehicles to and within Scotland. With ports surrounding the country, shipping vehicles from any direction would be possible. Scotland has a per capita GDP of $41,189 and poverty has declined in the past 10 years. The population of Scotland is 5.2 million. The terrain is fairly mountainous and the climate is quite cool. The most common form of travel is by car. Combining these factors, it seems the scooter would not be very successful due to multiple factors including the weather and terrain. The limousine may not be successful as the population of Scotland is fairly low compared to other countries. The car, being the most common for of travel in Scotland, would likely be the most successful vehicle in this new market.
Aberdeen City Analysis
When looking at Scotland as a country, I think that Aberdeen would be identified as a regional city in the hierarchy of Central Places. Regional metropolis in Scotland are the country's capital of Edinburgh, and Glasgow, the city with the largest population in Scotland. Small cities in Scotland include Dundee and Inverness. Towns surrounding Aberdeen are Peterhead and Montrose. As Scotland is a country within a country, I think that though Glasgow could be considered a National Metropolis, most National Metropolis are located in England where the extremely large populations live, such as London.
Aberdeen, being a regional city, has many things that smaller cities do not. Aberdeen has its own airport, as well as two major ports. Accompanied with Aberdeen's train and road infrastructure, transportation to anywhere within and around the city is not difficult. Being a big city, some of the land is set aside as preserves, this includes land near the coast where one can find beaches (pictured below). There are two major universities located within the city of Aberdeen, and various secondary schools can be found in the city, including schools with religious affiliation. There are nine different hospitals and medical centers located in the city of Aberdeen.
Aberdeen, being a regional city, has many things that smaller cities do not. Aberdeen has its own airport, as well as two major ports. Accompanied with Aberdeen's train and road infrastructure, transportation to anywhere within and around the city is not difficult. Being a big city, some of the land is set aside as preserves, this includes land near the coast where one can find beaches (pictured below). There are two major universities located within the city of Aberdeen, and various secondary schools can be found in the city, including schools with religious affiliation. There are nine different hospitals and medical centers located in the city of Aberdeen.
Wednesday, May 22, 2013
In Scottish News #4
I read an article titled "Nathan Goode: Trams just start for sustainable city," found in the Scottish magazine The Scotsman, it can be found HERE.
This article discusses the new sustainable tram system just completed in Edinburgh, Scotland. Though residents had seen the cost of this project increase and the completion date moved back repeatedly, the tramway project is finally complete. Edinburgh is Scotland's capital city and, until now, has not delivered European standards of infrastructure. There is currently only one line linking Edinburgh Airport with York Place; expansion of the tramway system is imperative. Edinburgh looks toward a future that is both business friendly and sustainable with this tram system. The author believes that Edinburgh has an opportunity to become a world leader in sustainability, but for this to be achieved, everyone must support a vision for a sustainable and effective transport infrastructure.
Some economic benefits of the tram system are discussed in the article. One of these benefits is to the communities situate close to the line as these areas could become "investment nodes," spurred by the creation of a 21st-century transport system. I think this is similar to the cities that benefited from the creation of the shipping container. Cities that were ideal to set up ports made for the new shipping containers benefited as more business and goods were passed through the city. On a smaller scale, communities along the tram line will likely benefit from increased passenger and business traffic passing through their area. The article also mentioned how residents will benefit. Residents who suffered the effects of construction work will likely see their property prices and transport options increase. The council in Edinburgh will also be able to have more flexibility in regenerating areas forgotten and neglected through tram line creation. Another beneficial effect not mentioned in the article is the benefit to the environment. The tram is an efficient from of public transportation that reduces the overall effect of Edinburgh on the environment. As Edinburgh creates more tram lines they will connect more areas of the city. This will allow for people to get from one area to another easily and cheaply, fostering business and market growth.
Though the tram system seems largely beneficial to Edinburgh, there are some problems that could arise. The cost and time used on the first tram line were much larger than originally expected. The city may not have the time or money to create the tram system necessary to benefit the entire city. To create an fully inclusive infrastructure system, more lines are necessary. As more lines are created, the positive effect on the environment will increase, and more residents and communities will benefit from the system. If Edinburgh is able to create more tram lines, the future of the city's infrastructure is bright.
This article discusses the new sustainable tram system just completed in Edinburgh, Scotland. Though residents had seen the cost of this project increase and the completion date moved back repeatedly, the tramway project is finally complete. Edinburgh is Scotland's capital city and, until now, has not delivered European standards of infrastructure. There is currently only one line linking Edinburgh Airport with York Place; expansion of the tramway system is imperative. Edinburgh looks toward a future that is both business friendly and sustainable with this tram system. The author believes that Edinburgh has an opportunity to become a world leader in sustainability, but for this to be achieved, everyone must support a vision for a sustainable and effective transport infrastructure.
Some economic benefits of the tram system are discussed in the article. One of these benefits is to the communities situate close to the line as these areas could become "investment nodes," spurred by the creation of a 21st-century transport system. I think this is similar to the cities that benefited from the creation of the shipping container. Cities that were ideal to set up ports made for the new shipping containers benefited as more business and goods were passed through the city. On a smaller scale, communities along the tram line will likely benefit from increased passenger and business traffic passing through their area. The article also mentioned how residents will benefit. Residents who suffered the effects of construction work will likely see their property prices and transport options increase. The council in Edinburgh will also be able to have more flexibility in regenerating areas forgotten and neglected through tram line creation. Another beneficial effect not mentioned in the article is the benefit to the environment. The tram is an efficient from of public transportation that reduces the overall effect of Edinburgh on the environment. As Edinburgh creates more tram lines they will connect more areas of the city. This will allow for people to get from one area to another easily and cheaply, fostering business and market growth.
Though the tram system seems largely beneficial to Edinburgh, there are some problems that could arise. The cost and time used on the first tram line were much larger than originally expected. The city may not have the time or money to create the tram system necessary to benefit the entire city. To create an fully inclusive infrastructure system, more lines are necessary. As more lines are created, the positive effect on the environment will increase, and more residents and communities will benefit from the system. If Edinburgh is able to create more tram lines, the future of the city's infrastructure is bright.
Sunday, May 12, 2013
The World the Box Made -- Response
The following entry is a response to chapter 1, "The World the Box Made," in the book The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger by Marc Levinson.
I found this passage from the article interesting:
The author of the book mentioned a few times that some parties were not happy with the containerization of shipping and transportation. This development made markets that had previously been dominated by local companies, available to international companies. This passage shows that even though some companies may have been unhappy with this change, they were forced to accept it. If companies chose not to expand their trade internationally they were at a disadvantage to those who did. Not only would more goods be in the market, making it more competitive, but they would not be taking advantages of international markets where they could also sell their goods. I think it is interesting that as innovation advances a market, some people are not happy with this because it is not beneficial to them. It is also interesting that even though these people do not agree with the change, they are forced to engage in the advance to remain competitive.
Another passage I found interesting was the following:
I liked this excerpt from the chapter because it emphasizes the importance of innovation. We are reaching a point where increases in capital, land and labor do not fluctuate significantly and I think innovation drives the improvement of markets. Innovation helps improve the way that these resources are used and this makes them more effective. The definition of economics is defined as the allocation of the world's scarce resources. Capital, land, and labor are these resources and innovation is a way that one can allocate these resources more effectively. I found it interesting that sometimes a market will not see the benefits of innovation until a while after it was created. I think this relates to those who did not want the containerization of transportation to take place because it would stifle their local market advantage. It is also interesting how though the innovation is available, it may not be put into effect until someone figures out a way to make it practical.
The author of this book believes that the development of the shipping container contributed greatly to globalization. He believes that the shipping container is often overlooked with trains, ships, airplanes and trucks often emphasized in the transportation industry. I think the author looks at the shipping container as the tool that made ships, trains and trucks able to be integral part of the transportation and shipping. I agree with this, because the shipping container allows for goods to be transferred from all of these different types of transportation without extensive labor and fairly cheaply. I think that the shipping container was a key component in making the cost of transportation of goods much lower. This decrease in the cost of transport allowed for increased globalization. I think that Levinson describes this process well in the following quote:
One can see from this quote that as transport costs decrease, globalization increases. I think the shipping container contributed greatly to the decrease in transport costs, thus affecting globalization.
With every change, there are winners and there are losers. With the development of the shipping container, many people benefited while others did not. There were many that lost out when the shipping container came around. These people included the enormous amount workers who made there living loading and unloading ships. Also, merchant mariners who shipped out to see the world now only got to stay a few hours in port while their ship was unloaded and loaded. Workers in trade unions also did not benefit; Before the container they could negotiate continuous improvement in water and benefits, but with the container, employers could threaten to export labor because it was cheaper elsewhere. This is a way in which employers were winners as they now had much more bargaining power over workers. The final group of people that found the switch to shipping containers disadvantageous was the customs inspectors and security officials. These officials could not check all the containers to make sure what was on the manifest was accurate, making it easy to smuggle things in and out of the country. While there were losers, this innovation in the transportation market also created many winners. Importers and exporters could transport things to other countries much more easily. Manufacturers were also able to decrease their inventories because items were shipped out much faster. Consumers were also a winner at this time. Consumers had many more choices. Due to the inexpensive imported consumer goods, the standard of living increased around the world as consumers could by cheaper things more specified to their needs.
Finally, I'd like to discuss cities and towns that gained and lost because of the shipping container. Maritime commerce cities did not benefit from this change. These cities were found unnecessary or unsuited for container trade and their population rapidly decreased. Winners included harbor towns that could become world ports if the invested in accommodating container trade. New ports were made in countries that didn't have ports before. Also small towns could sell land to manufacturers for cheaper than in cities, and without the high cost of transportation holding them back, manufacturers could now purchase this land. It is evident that the development of the shipping container brought about many changes in the transportation market. Some people found this change to their advantage and some didn't, but it has change the cost of transportation forever.
I found this passage from the article interesting:
"This new economic geography allowed firms whose ambitions had been purely domestic to become international companies, exporting their products almost as effortlessly as selling them nearby. If they did, though, they soon discovered that cheaper shipping benefited manufacturers in Thailand or Italy just as much. Those who had no wish to go international, who sought only to serve their local clientele, learned that they had no choice: like it or not, they were competing globally because the global market was coming to them... In 1956, the world was full of small manufacturers selling locally; by the end of the twentieth century, purely local markets for goods of any sort were few and far between."
The author of the book mentioned a few times that some parties were not happy with the containerization of shipping and transportation. This development made markets that had previously been dominated by local companies, available to international companies. This passage shows that even though some companies may have been unhappy with this change, they were forced to accept it. If companies chose not to expand their trade internationally they were at a disadvantage to those who did. Not only would more goods be in the market, making it more competitive, but they would not be taking advantages of international markets where they could also sell their goods. I think it is interesting that as innovation advances a market, some people are not happy with this because it is not beneficial to them. It is also interesting that even though these people do not agree with the change, they are forced to engage in the advance to remain competitive.
Another passage I found interesting was the following:
"The importance of innovation is at the center of a second, and rapidly growing, body of research. Capital, labor, and land, that basic factors of production, have lost much of their fascination for those looking to understand why economies grow and prosper. The key question asked today is no longer how much capital and labor an economy can amass, but how innovation helps employ those resources more effectively to produce more goods and services. This line of research makes clear that new technology, by itself, has little economic benefit. As economist Nathan Rosenberg observed, 'innovations in their early stages are usually exceedingly ill-adapted to the wide range of more specialized uses to which they are eventually put." Resistance to new methods can impede their adaption... The economic benefits arise not from the innovation itself, but from the entrepreneurs who eventually discover ways to put innovations to practical use--and most critically...from the organizational changes through which businesses reshape themselves to take advantage of the new technology."
I liked this excerpt from the chapter because it emphasizes the importance of innovation. We are reaching a point where increases in capital, land and labor do not fluctuate significantly and I think innovation drives the improvement of markets. Innovation helps improve the way that these resources are used and this makes them more effective. The definition of economics is defined as the allocation of the world's scarce resources. Capital, land, and labor are these resources and innovation is a way that one can allocate these resources more effectively. I found it interesting that sometimes a market will not see the benefits of innovation until a while after it was created. I think this relates to those who did not want the containerization of transportation to take place because it would stifle their local market advantage. It is also interesting how though the innovation is available, it may not be put into effect until someone figures out a way to make it practical.
The author of this book believes that the development of the shipping container contributed greatly to globalization. He believes that the shipping container is often overlooked with trains, ships, airplanes and trucks often emphasized in the transportation industry. I think the author looks at the shipping container as the tool that made ships, trains and trucks able to be integral part of the transportation and shipping. I agree with this, because the shipping container allows for goods to be transferred from all of these different types of transportation without extensive labor and fairly cheaply. I think that the shipping container was a key component in making the cost of transportation of goods much lower. This decrease in the cost of transport allowed for increased globalization. I think that Levinson describes this process well in the following quote:
"When transport costs are high, manufacturers' main concern is to locate near their customers, even if this requires undesirably small plants of high operating costs. As transportation costs decline relative to other costs, manufacturers can relocate first domestically, and then internationally, to reduce other costs, which come to loom larger. Globalization, the diffusion of economic activity without regard fro national boundaries, is the logical end point of this process. As transport costs fall to extremely low levels, producers move from high-wage to low-wage countries, eventually causing wage levels in all countries to converge."
One can see from this quote that as transport costs decrease, globalization increases. I think the shipping container contributed greatly to the decrease in transport costs, thus affecting globalization.
With every change, there are winners and there are losers. With the development of the shipping container, many people benefited while others did not. There were many that lost out when the shipping container came around. These people included the enormous amount workers who made there living loading and unloading ships. Also, merchant mariners who shipped out to see the world now only got to stay a few hours in port while their ship was unloaded and loaded. Workers in trade unions also did not benefit; Before the container they could negotiate continuous improvement in water and benefits, but with the container, employers could threaten to export labor because it was cheaper elsewhere. This is a way in which employers were winners as they now had much more bargaining power over workers. The final group of people that found the switch to shipping containers disadvantageous was the customs inspectors and security officials. These officials could not check all the containers to make sure what was on the manifest was accurate, making it easy to smuggle things in and out of the country. While there were losers, this innovation in the transportation market also created many winners. Importers and exporters could transport things to other countries much more easily. Manufacturers were also able to decrease their inventories because items were shipped out much faster. Consumers were also a winner at this time. Consumers had many more choices. Due to the inexpensive imported consumer goods, the standard of living increased around the world as consumers could by cheaper things more specified to their needs.
Finally, I'd like to discuss cities and towns that gained and lost because of the shipping container. Maritime commerce cities did not benefit from this change. These cities were found unnecessary or unsuited for container trade and their population rapidly decreased. Winners included harbor towns that could become world ports if the invested in accommodating container trade. New ports were made in countries that didn't have ports before. Also small towns could sell land to manufacturers for cheaper than in cities, and without the high cost of transportation holding them back, manufacturers could now purchase this land. It is evident that the development of the shipping container brought about many changes in the transportation market. Some people found this change to their advantage and some didn't, but it has change the cost of transportation forever.
Wednesday, May 8, 2013
In Scottish News #3
I read an article from a popular Scottish magazine titled The Scotsman. The article is called "14th year of growth for Scots oil services exports" and can be found HERE.
This article talks about the oil and gas sector in Scotland. There have been 14 years of growth in a row in this industry. The total exports of oil and gas in Scotland equal 8.2 billion pounds. Offshore equipment, construction, and drilling account for almost half of the sales in this sector. The U.S. is the largest importer of Scottish oil and gas making up 2.6 billion pounds of the 8.2 billion. Growth in the Middle East and Africa markets is evident. Fergus Ewing said, "Scotland has established a global reputation within the oil and gas sector... the value of this activity to the economy and exchequer is substantial." The industry supports around 200,000 jobs in Scotland and there are up to 24 billion barrels of oil still to be recovered in the North Sea. David Rennie said, "Latest figure show that our expertise in oil and gas is increasing in demand across the globe, and clearly demonstrate the growing importance international markets have to play in the long-term future of the industry in Scotland... We'll continue to work closely with companies across the oil and gas supply chain to help identify new opportunities for growth at a global level, particularly in our priority markets such as West Africa, the Middle East, Australia, and Brazil."
This article is relevant to the equation for GDP. Gross Domestic Product includes consumption, investment, government spending and net exports (GDP = C + I + G + NX). The exports of oil and gas that have been increasing over the last 14 years also increase net exports. The total amount of oil and gas exported in 2011/12 were 8.2 billion pounds. This is a significant number as the total GDP in Scotland is almost 140 billion pounds. If the oil and gas industry were not as strong as they are now, Scotland could potentially have a 8 billion pound difference in GDP. The U.S. is one of the main importers of Scotland's oil and gas. This means that the net exports for GDP in the U.S. has 2.6 billion pounds of imports from Scotland in this sector, lowering net exports. The oil and gas industry also supports around 200,000 jobs. The employees who earn wages from these jobs us part of these wages to consume. As consumption is part of GDP, this also affects GDP in a positive way for Scotland. The oil and gas industry in Scotland seems to be growing. This will continue to increase GDP by increasing net exports, as well as consumption as more people are needed to work in this sector.
The high levels of oil and gas exports seem to be a very beneficial thing for Scotland. It increases GDP through consumption and net exports. One negative thing about the growing oil and gas industry is that it is not sustainable in the long term. As oil and gas are not renewable resources, eventually they will all be gone. If Scotland depends to heavily on the oil and gas sector, in the future they will be negatively affected when these resources run out. Scotland should look at more environmentally friendly ways of producing energy. From what I have read about Scotland they seem to be looking a lot into new ways of producing energy including wind turbines to generate power. If Scotland can shift to becoming a leader in producing sustainable energy they will find themselves in a more advantages position in the future when fossil fuels are scarce and new energy is highly demanded.
This article talks about the oil and gas sector in Scotland. There have been 14 years of growth in a row in this industry. The total exports of oil and gas in Scotland equal 8.2 billion pounds. Offshore equipment, construction, and drilling account for almost half of the sales in this sector. The U.S. is the largest importer of Scottish oil and gas making up 2.6 billion pounds of the 8.2 billion. Growth in the Middle East and Africa markets is evident. Fergus Ewing said, "Scotland has established a global reputation within the oil and gas sector... the value of this activity to the economy and exchequer is substantial." The industry supports around 200,000 jobs in Scotland and there are up to 24 billion barrels of oil still to be recovered in the North Sea. David Rennie said, "Latest figure show that our expertise in oil and gas is increasing in demand across the globe, and clearly demonstrate the growing importance international markets have to play in the long-term future of the industry in Scotland... We'll continue to work closely with companies across the oil and gas supply chain to help identify new opportunities for growth at a global level, particularly in our priority markets such as West Africa, the Middle East, Australia, and Brazil."
This article is relevant to the equation for GDP. Gross Domestic Product includes consumption, investment, government spending and net exports (GDP = C + I + G + NX). The exports of oil and gas that have been increasing over the last 14 years also increase net exports. The total amount of oil and gas exported in 2011/12 were 8.2 billion pounds. This is a significant number as the total GDP in Scotland is almost 140 billion pounds. If the oil and gas industry were not as strong as they are now, Scotland could potentially have a 8 billion pound difference in GDP. The U.S. is one of the main importers of Scotland's oil and gas. This means that the net exports for GDP in the U.S. has 2.6 billion pounds of imports from Scotland in this sector, lowering net exports. The oil and gas industry also supports around 200,000 jobs. The employees who earn wages from these jobs us part of these wages to consume. As consumption is part of GDP, this also affects GDP in a positive way for Scotland. The oil and gas industry in Scotland seems to be growing. This will continue to increase GDP by increasing net exports, as well as consumption as more people are needed to work in this sector.
The high levels of oil and gas exports seem to be a very beneficial thing for Scotland. It increases GDP through consumption and net exports. One negative thing about the growing oil and gas industry is that it is not sustainable in the long term. As oil and gas are not renewable resources, eventually they will all be gone. If Scotland depends to heavily on the oil and gas sector, in the future they will be negatively affected when these resources run out. Scotland should look at more environmentally friendly ways of producing energy. From what I have read about Scotland they seem to be looking a lot into new ways of producing energy including wind turbines to generate power. If Scotland can shift to becoming a leader in producing sustainable energy they will find themselves in a more advantages position in the future when fossil fuels are scarce and new energy is highly demanded.
Monday, May 6, 2013
Country Profile Part Five: Scotland Transportation
Water Transportation
Because Scotland is made up of many islands, travel by water is very important to the country. There are many ferry companies that connect the mainland and the many islands of Scotland. Major seaports in Scotland are located in Aberdeen, Edinburgh, Cairnryan, Caithness, Gleneig, Gourock, Kilchoan, Mallaig, Oban, Scrabster, Troon and Ullapool.
Land Transportation
Scotland's rail network consists of 350 railroad stations with 2776 kilometers of track. More than 78.3 million passenger journeys are made on Scotland's railway network each year. More travelers in Scotland are turning to train travel due to the increases in gas prices and the congested roadways. Freight trains are used often in Scotland for the transportation of goods as it produces only 10% of the emission produced by road based transport, in addition to being safe and competitive. Below is a map of the main railroad routes in Scotland.
Scotland's road network is highly developed. There are six main motorways in the country with three main trunk roads connecting the motorways to other parts of Scotland. Below is an image of the road network in Scotland showing the motorways in blue and the trunk roads in green.
Air Transportation
Scotland has four international airports. The Edinburgh Airport is Scotland's busiest airport, it is beginning to service longer flights. The Glasgow International Airport, Aberdeen Airport, and Glasgow Prestwick International Airport are Scotland's three other international airports. Combined the four airports serve 107 international destinations in Europe, Asia, Africa and North America.
There are ten small airports that service the Highlands, Orkney, Shetland and the Western Isles, mostly used for short flights and operated by Highlands and Islands Airports Limited.
Below is an image of all the airports in Scotland. The international airports are shown in red.
Because Scotland is made up of many islands, travel by water is very important to the country. There are many ferry companies that connect the mainland and the many islands of Scotland. Major seaports in Scotland are located in Aberdeen, Edinburgh, Cairnryan, Caithness, Gleneig, Gourock, Kilchoan, Mallaig, Oban, Scrabster, Troon and Ullapool.
Land Transportation
Scotland's rail network consists of 350 railroad stations with 2776 kilometers of track. More than 78.3 million passenger journeys are made on Scotland's railway network each year. More travelers in Scotland are turning to train travel due to the increases in gas prices and the congested roadways. Freight trains are used often in Scotland for the transportation of goods as it produces only 10% of the emission produced by road based transport, in addition to being safe and competitive. Below is a map of the main railroad routes in Scotland.
Scotland's road network is highly developed. There are six main motorways in the country with three main trunk roads connecting the motorways to other parts of Scotland. Below is an image of the road network in Scotland showing the motorways in blue and the trunk roads in green.
Air Transportation
Scotland has four international airports. The Edinburgh Airport is Scotland's busiest airport, it is beginning to service longer flights. The Glasgow International Airport, Aberdeen Airport, and Glasgow Prestwick International Airport are Scotland's three other international airports. Combined the four airports serve 107 international destinations in Europe, Asia, Africa and North America.
There are ten small airports that service the Highlands, Orkney, Shetland and the Western Isles, mostly used for short flights and operated by Highlands and Islands Airports Limited.
Below is an image of all the airports in Scotland. The international airports are shown in red.
Sunday, April 28, 2013
Country Profile Part Four: Scotland Internationally
International Trade
EXPORTS: The five sectors that account for almost two thirds of Scotland's total exports include food and beverages, chemicals, business services, Electronics and instrument engineering, and mechanical engineering. As far as food and beverages are concerned, Scotland exports 36 bottles of whiskey every second, salmon to 60 countries every year, and beef and lamb to chefs all over the world. Other important exports include textiles, oil, gas and fuel-based equipment and renewable energy equipment and technology. Scotland's top export markets are the U.S., Netherlands, France and Germany. Growing export markets include Australia, China, India, Japan, Russia and the United Arab Emirates.
IMPORTS: It was more difficult to find information on Scotland's imports. It seems the country's major imports include polyester, cows, electronics, paper, and cars. Cows may be imported into the country to produce beef, which is a major export of Scotland.
Exchange Rate
Scotland's currency is the British Pound Sterling, used by all of the U.K., British Crown dependencies and British overseas territories. Currently 1 Pound Sterling is equal to 1.55 USD. The pound sterling has hover around 1.60 USD for the last couple years after it reached almost 2 USD in 2008.
Immigration and Emigration
After the destruction of the clan system in 1746, there was a lot of emigration from Scotland in the 18th century. In the 19th century many Scots immigrated to Canada and the United States. Since the early 2000 more people from the elsewhere in the U.K. have moved to Scotland than Scots moving to elsewhere in the U.K. Scotland also recently switched from having a negative net migration to a positive net migration as indicated by the graph below.
Relations with Other Countries
Scotland is part of the United Kingdom. The U.K. is part of the European Union, the United Nations and the North Atlantic Treaty Organization. They are allied with many European nations, like France, Germany, Italy and Spain. Also, other English speaking countries, like Canada, New Zealand, Australia and the United States. The U.K. is involved in many peace-keeping operations around the world, as well as combat operations in Afghanistan and Iraq.
EXPORTS: The five sectors that account for almost two thirds of Scotland's total exports include food and beverages, chemicals, business services, Electronics and instrument engineering, and mechanical engineering. As far as food and beverages are concerned, Scotland exports 36 bottles of whiskey every second, salmon to 60 countries every year, and beef and lamb to chefs all over the world. Other important exports include textiles, oil, gas and fuel-based equipment and renewable energy equipment and technology. Scotland's top export markets are the U.S., Netherlands, France and Germany. Growing export markets include Australia, China, India, Japan, Russia and the United Arab Emirates.
IMPORTS: It was more difficult to find information on Scotland's imports. It seems the country's major imports include polyester, cows, electronics, paper, and cars. Cows may be imported into the country to produce beef, which is a major export of Scotland.
Exchange Rate
Scotland's currency is the British Pound Sterling, used by all of the U.K., British Crown dependencies and British overseas territories. Currently 1 Pound Sterling is equal to 1.55 USD. The pound sterling has hover around 1.60 USD for the last couple years after it reached almost 2 USD in 2008.
Immigration and Emigration
After the destruction of the clan system in 1746, there was a lot of emigration from Scotland in the 18th century. In the 19th century many Scots immigrated to Canada and the United States. Since the early 2000 more people from the elsewhere in the U.K. have moved to Scotland than Scots moving to elsewhere in the U.K. Scotland also recently switched from having a negative net migration to a positive net migration as indicated by the graph below.
Relations with Other Countries
Scotland is part of the United Kingdom. The U.K. is part of the European Union, the United Nations and the North Atlantic Treaty Organization. They are allied with many European nations, like France, Germany, Italy and Spain. Also, other English speaking countries, like Canada, New Zealand, Australia and the United States. The U.K. is involved in many peace-keeping operations around the world, as well as combat operations in Afghanistan and Iraq.
Wednesday, April 24, 2013
In Scottish News #2
I read the article "Internet advertising up by 12.5%" in the Scottish magazine called The Scotsman, the article can be found HERE.
This article states that advertising spending on the internet increased by 12.5% in Britain in 2012. It states that this increase is because consumers are spending more time on smartphones and tablets. The total amount of pounds spent on advertising in 2012 was 5.42 billion.
This increase in internet advertising shows how markets can be adaptive to new technologies. These technologies allow them to grow and improve. With internet advertising, relevant ads can reach the consumer while they are surfing the internet. It also shows how the market is adapting to consumers preferences for spending time on smartphones and tablets. Advertisers are able to see where there advertisements will be seen the most and change there advertising mix to incorporate more online types of ads. If it is true that more people are spending time online, than these ads will reach more people.
The higher demand for internet advertisements is likely to increase the price and quantity of these types of ads. Because this is a substitute of other types of advertisements, the demand for these ads is likely to decrease causing the price and quantity of other types of ads to decrease too.
This increase in internet advertising indicates that the U.K. is utilizing new technologies. The markets in the U.K. are adjusting to find faster ways for advertisements to reach people. Business are able to adapt to consumer behavior and create a way to benefit from it. Some problems could arise from this shift. One problem is that with internet advertisements becoming more prevalent, consumers might be more likely to ignore them. Consumers may also become annoyed with these ads. The increased price of internet advertisements, may price some smaller business out of this market. Larger business and companies will benefit from this decrease in competition. Though the increase in internet advertisements may cause some problems to arise, it show that the U.K. has a market that can adapt and change to become more efficient.
This article states that advertising spending on the internet increased by 12.5% in Britain in 2012. It states that this increase is because consumers are spending more time on smartphones and tablets. The total amount of pounds spent on advertising in 2012 was 5.42 billion.
This increase in internet advertising shows how markets can be adaptive to new technologies. These technologies allow them to grow and improve. With internet advertising, relevant ads can reach the consumer while they are surfing the internet. It also shows how the market is adapting to consumers preferences for spending time on smartphones and tablets. Advertisers are able to see where there advertisements will be seen the most and change there advertising mix to incorporate more online types of ads. If it is true that more people are spending time online, than these ads will reach more people.
The higher demand for internet advertisements is likely to increase the price and quantity of these types of ads. Because this is a substitute of other types of advertisements, the demand for these ads is likely to decrease causing the price and quantity of other types of ads to decrease too.
This increase in internet advertising indicates that the U.K. is utilizing new technologies. The markets in the U.K. are adjusting to find faster ways for advertisements to reach people. Business are able to adapt to consumer behavior and create a way to benefit from it. Some problems could arise from this shift. One problem is that with internet advertisements becoming more prevalent, consumers might be more likely to ignore them. Consumers may also become annoyed with these ads. The increased price of internet advertisements, may price some smaller business out of this market. Larger business and companies will benefit from this decrease in competition. Though the increase in internet advertisements may cause some problems to arise, it show that the U.K. has a market that can adapt and change to become more efficient.
Thursday, April 18, 2013
Reinventing the Bazaar: Chapter 4
This is a response to chapter four, "Information Wants to be Free," in the book, Reinventing the Bazaar: A Natural History of Markets by John McMillan.
In the reading I found the following quote very interesting:
The author talks quite a bit about transaction costs in this chapter. I understood transaction costs to be the costs associated with purchasing a good. This would not include the actual cost of the good, but things like time it took to compare the good to other goods and assessing the quality of goods. McMillan talks about how on the internet the cost of comparing the prices of the same or similar goods is very easy, making this transaction cost zero. In contrast to this he talks about how the internet makes it more difficult to ensure the quality of goods. The transaction cost of ensuring quality may be higher if a buyer wants to investigate buying from smaller online businesses. Internet consumers often reduce this transaction cost by buying from brands they know and trust to be of good quality.
With perfect information in a marketplace, all people in the marketplace know all the information about everything. But perfect information rarely is completely available in a marketplace, so let's consider the effects of imperfect information. Consumers would be greatly affected by imperfect information. If they are unable to easily compare prices, they will likely end up paying a higher price than necessary. They also are unable to ensure the quality of the goods they purchase, and may not be trusting of sellers. This mistrust is a disadvantage for the seller because buyers will be less willing to purchase goods, particularly from sellers they are unfamiliar with. The seller do have an advantage in that they can produce goods of worse quality than competitors and the buyer has no way of knowing this. They also have more control over the price because consumers have difficulty comparing prices. Though the sellers come out on top in some ways when information is imperfect, overall the market will be less successful, with fewer transactions occurring and many people unable to trust from whom they purchase.
In the reading I found the following quote very interesting:
"The mere existence of choice does not in itself ensure that the market operates competitively. For there to be effective competition, buyers must be able to easily compare the choices... Information is the lifeblood of markets. Knowledge of what is available where, and who wants it is crucial. A market works badly if information does not flow through it."Consumers being able to choose is a significant factor in defining price. Because a consumer can choose another seller, prices are competitive. In some markets the ability to choose another seller does not create a competitive market. I thought this quote was interesting because it shows how when sellers are able to withhold information from buyers, it is often to the sellers advantage. This is interesting in relation to tourists purchasing items in the Marrakech bazaar in Morocco. The tourists cannot easily find out where the cheapest priced items are and to search extensively for where these items are would be just as costly as buying the item from the first or second seller they encounter. Information about where the cheapest priced goods are located is not available in this market, allowing the sellers to have greater control over the price. The second part of the quote talks about how information and knowledge are so important to a successful market. With freer information, buyers are able to locate the goods and prices that best suit their needs, it is also to the sellers advantage to be located by these consumers. The greater the information available the more competitive and effective a market is.
The author talks quite a bit about transaction costs in this chapter. I understood transaction costs to be the costs associated with purchasing a good. This would not include the actual cost of the good, but things like time it took to compare the good to other goods and assessing the quality of goods. McMillan talks about how on the internet the cost of comparing the prices of the same or similar goods is very easy, making this transaction cost zero. In contrast to this he talks about how the internet makes it more difficult to ensure the quality of goods. The transaction cost of ensuring quality may be higher if a buyer wants to investigate buying from smaller online businesses. Internet consumers often reduce this transaction cost by buying from brands they know and trust to be of good quality.
With perfect information in a marketplace, all people in the marketplace know all the information about everything. But perfect information rarely is completely available in a marketplace, so let's consider the effects of imperfect information. Consumers would be greatly affected by imperfect information. If they are unable to easily compare prices, they will likely end up paying a higher price than necessary. They also are unable to ensure the quality of the goods they purchase, and may not be trusting of sellers. This mistrust is a disadvantage for the seller because buyers will be less willing to purchase goods, particularly from sellers they are unfamiliar with. The seller do have an advantage in that they can produce goods of worse quality than competitors and the buyer has no way of knowing this. They also have more control over the price because consumers have difficulty comparing prices. Though the sellers come out on top in some ways when information is imperfect, overall the market will be less successful, with fewer transactions occurring and many people unable to trust from whom they purchase.
Wednesday, April 17, 2013
A Fez with a Heart Response
A response to A Fez of the Heart: Travels around Turkey in Search of a Hat, by Jeremy Seal
One of my favorite passages from this reading is about how life changed so quickly in the city of Pomegranate. It talks about Halil, a successful hotel owner and son of a farmer.
Halil's display of his father's old things is likely good for his business. It gives his hotel a unique glance into the past of the town, which tourists will be eager to see. We also saw an increase in the number of places for tourists to stay; beginning at just twenty-five and growing to now be anywhere between twenty to a hundred thousand. This shows how a market will adapt. The people of Pomegranate realized money could be made in creating lodgings for tourists, making hotels, restaurants and tourist attractions increase. These tourists wanted to see the charming culture of Pomegranate and this was an emphasis the people of Pomegranate pushed.
In Scotland I see this happening as well. Loch Ness is a popular tourist destination in Scotland because of the legend of the Loch Ness Monster. This legend is part of the culture of Scotland, but has now been turned into an object to attract tourists. Another thing that attracts tourists to Scotland are the many castles and ruins. These give insight into the past of Scotland, but have no real use today. They are kept because they are important to the history of Scotland, but they also give Scotland a unique historical aspect that draws tourists. Scottish culture is fairly well known, kilts, bagpipes, haggis, but this is not Scottish culture in its entirety. Those are just little traditions that make Scotland interesting to tourists. Though they do have some real use in Scotland, this use is engulfed in all of Scottish culture today. As tourists pick out their favorite bits of Scottish culture, they are unable to understand the country's culture as a whole.
One of my favorite passages from this reading is about how life changed so quickly in the city of Pomegranate. It talks about Halil, a successful hotel owner and son of a farmer.
"Halil know that there never were, nor will be, such differences in Pomegranate livelihood and lifestyle as existed between him and his father and their respective generations. There is a yawning gulf between their lives that cannot be closed, only recognized."I found it interesting how quickly life can change for an entire city. Pomegranate was a simpler farming town, and then suddenly became a bustling tourist destination. Halil keeps all his father's tools on display in his hotel as well as pictures and even a pair of his pants. The reading mentions how mens tools became museum pieces before those who used them had died. I feel that this gap may often happen in towns and cities where there is beautiful scenery and interesting culture and tradition. Tourists want to visit to see these things, but eventually the real culture is lost and it is all geared toward pleasing the tourists.
Halil's display of his father's old things is likely good for his business. It gives his hotel a unique glance into the past of the town, which tourists will be eager to see. We also saw an increase in the number of places for tourists to stay; beginning at just twenty-five and growing to now be anywhere between twenty to a hundred thousand. This shows how a market will adapt. The people of Pomegranate realized money could be made in creating lodgings for tourists, making hotels, restaurants and tourist attractions increase. These tourists wanted to see the charming culture of Pomegranate and this was an emphasis the people of Pomegranate pushed.
In Scotland I see this happening as well. Loch Ness is a popular tourist destination in Scotland because of the legend of the Loch Ness Monster. This legend is part of the culture of Scotland, but has now been turned into an object to attract tourists. Another thing that attracts tourists to Scotland are the many castles and ruins. These give insight into the past of Scotland, but have no real use today. They are kept because they are important to the history of Scotland, but they also give Scotland a unique historical aspect that draws tourists. Scottish culture is fairly well known, kilts, bagpipes, haggis, but this is not Scottish culture in its entirety. Those are just little traditions that make Scotland interesting to tourists. Though they do have some real use in Scotland, this use is engulfed in all of Scottish culture today. As tourists pick out their favorite bits of Scottish culture, they are unable to understand the country's culture as a whole.
Tuesday, April 16, 2013
Country Profile Part Three: Scotland Tourism
Importance of Tourism
The history, culture and scenery of Scotland make the country a popular tourist destination. Tourism in Scotland creates about 200,000 jobs in the service sector. Tourists spend an average of 4 billion pounds per year. Though most tourists are from other parts of the U.K., most common oversea tourists include the U.S., Germany, France, Canada and Australia (in this order).
Tourist Attractions
Scotland has many large, historic cities that are frequented by tourists and contain many exciting attractions and activities. Scotland has many cultural tourist attractions, such as the Highland Games, which have traditions unique to Scotland. Often tourists visit Scotland to discover their Scottish heritage. One of the most well know Scottish tourist attractions is Loch Ness, where many believe the Loch Ness Monster lives. The history of Scotland allows for many great castles and ruins, that also draw tourists.
Here is a list of the top 10 tourist attractions in Scotland: Tourist Attractions
Here is a site helpful for tourists in Scotland: Tourist Site
National Parks and Nature Preserves
Scotland has two National Parks:
Loch Lomond and The Trossachs National Park
Cairngorms National Park
Here is a list of Scotland's Nature Reserves: Nature Reserves
Museums
Some of the biggest museums in Scotland are as follows:
The National Museum of Scotland (Edinburgh)
Gallery of Modern Art (Glasgow)
Riverside Museum (Glasgow)
National War Museum (Edinburgh)
National Museum of Rural Life (Kilbride)
National Museum of Flight (East Lothian)
The history, culture and scenery of Scotland make the country a popular tourist destination. Tourism in Scotland creates about 200,000 jobs in the service sector. Tourists spend an average of 4 billion pounds per year. Though most tourists are from other parts of the U.K., most common oversea tourists include the U.S., Germany, France, Canada and Australia (in this order).
Tourist Attractions
Scotland has many large, historic cities that are frequented by tourists and contain many exciting attractions and activities. Scotland has many cultural tourist attractions, such as the Highland Games, which have traditions unique to Scotland. Often tourists visit Scotland to discover their Scottish heritage. One of the most well know Scottish tourist attractions is Loch Ness, where many believe the Loch Ness Monster lives. The history of Scotland allows for many great castles and ruins, that also draw tourists.
Here is a list of the top 10 tourist attractions in Scotland: Tourist Attractions
Here is a site helpful for tourists in Scotland: Tourist Site
National Parks and Nature Preserves
Scotland has two National Parks:
Loch Lomond and The Trossachs National Park
Cairngorms National Park
Here is a list of Scotland's Nature Reserves: Nature Reserves
Museums
Some of the biggest museums in Scotland are as follows:
The National Museum of Scotland (Edinburgh)
Gallery of Modern Art (Glasgow)
Riverside Museum (Glasgow)
National War Museum (Edinburgh)
National Museum of Rural Life (Kilbride)
National Museum of Flight (East Lothian)
Thursday, April 11, 2013
Country Profile Part Two: Scotland Economics
A Broad Overview of Scotland's Economy
GDP: 216 billion USD
GDP per capita: 43,492 USD
Life Expectancy
75.8 years for males
80.4 years for females
Poverty Rate: 15% (2010/11)
Literacy Rate: 99%
Unemployment Rate: 7.4%
Inflation: 3.5%
Natural Resources
The climate of Scotland is temperate, it is fairly changeable but is rarely extreme. Because of the different topography of Scotland rainfall is highly varied across the country reaching 180in in the western Highlands but only 34in in eastern Scotland. Scotland has significant coal and oil reserves and large deposits of zinc. A lot of the soil is rocky and infertile, but there is some arable land in the central lowlands and flat eastern coastal areas. Another important Scottish resource is livestock, mainly sheep. The rivers of northern Scotland provide significant quantities of hydroelectric power, with most of the U.K.'s hydroelectric power located in Scotland.
Labor
The labor force in Scotland is almost 3 million people. Scotland has universal public education available to all residents. The Scottish educational system emphasizes breadth in a range of subjects in stead of more in depth studies in one area, like in the rest of the U.K. After completing primary and secondary school, students can decide to continue studying at a university. Scotland has 18 institutes of higher education including 15 universities.
Capital
Scotland has a very large fishing industry. Other main industries in Scotland are electronics, textiles, whisky and tourism. Because of the natural reserves of coal and oil, these industries are also fairly successful, but hydroelectric power is on the increase. The Scottish government invests a decent amount of money into the infrastructure of the country. The roadways and railway system are very extensive. Below is a picture of major railways throughout Scotland.
GDP: 216 billion USD
GDP per capita: 43,492 USD
Life Expectancy
75.8 years for males
80.4 years for females
Poverty Rate: 15% (2010/11)
Literacy Rate: 99%
Unemployment Rate: 7.4%
Inflation: 3.5%
Natural Resources
The climate of Scotland is temperate, it is fairly changeable but is rarely extreme. Because of the different topography of Scotland rainfall is highly varied across the country reaching 180in in the western Highlands but only 34in in eastern Scotland. Scotland has significant coal and oil reserves and large deposits of zinc. A lot of the soil is rocky and infertile, but there is some arable land in the central lowlands and flat eastern coastal areas. Another important Scottish resource is livestock, mainly sheep. The rivers of northern Scotland provide significant quantities of hydroelectric power, with most of the U.K.'s hydroelectric power located in Scotland.
Labor
The labor force in Scotland is almost 3 million people. Scotland has universal public education available to all residents. The Scottish educational system emphasizes breadth in a range of subjects in stead of more in depth studies in one area, like in the rest of the U.K. After completing primary and secondary school, students can decide to continue studying at a university. Scotland has 18 institutes of higher education including 15 universities.
Capital
Scotland has a very large fishing industry. Other main industries in Scotland are electronics, textiles, whisky and tourism. Because of the natural reserves of coal and oil, these industries are also fairly successful, but hydroelectric power is on the increase. The Scottish government invests a decent amount of money into the infrastructure of the country. The roadways and railway system are very extensive. Below is a picture of major railways throughout Scotland.
Wednesday, April 10, 2013
In Scottish News #1
I read an article titled "Farmers warned spring seeds carrying higher levels of disease" published in The Scotsman and located online HERE.
This article explains how the spring barley seed, planted in 2012 and being sown now, likely contains much higher levels of disease than normal. Testing indicates that more than 40% of the current crop could be infected with unprecedented levels of two fungal diseases, fusarium and microdochium. Farmers hoping to sell their barley crops to maltsters for use in brewing beer and distilling whiskey may find buyers unwilling to purchase infected grain. These disease also can cause reduced yield, low weights and reduced seed germination for farmers as well as possibly harming livestock if used in fodder. The end of the article briefly touches upon the proposals for agricultural trailers to undergo an annual road test aimed at reducing accidents. These proposals could negatively effect farmers and may deliver little genuine safety benefit.
The effects of the diseased barley seed could be present in many different markets. The first and most obvious market that will be affected, is the market for barley seed. The article mentions how beer brewers and whiskey distillers may be uninterested in buying Scottish barley seed because of the fungal diseases. If this did occur the demand for barley seed would decrease, causing the price and quantity of barley seed to also decrease. Another effect on the barley seed market could be a decrease in supply because the diseases negatively affect the amount of barley seed harvested. A decrease in supply would increase the price and decrease the quantity of barley seed sold in Scotland. If demand and supply both shifted in this way, the quantity would surely go down but the price could go up, down or stay the same. Other markets that could be affected are the markets for whiskey and beer. If the cost of barley goes up, either due to having to import barley from elsewhere, or because of the decrease in supply of barley, the supply of whiskey and beer could also decrease. This decrease in supply of Scottish beer and whiskey would cause an increase in the price and a decrease in the quantity. The final market I looked at was the market for livestock. If the supply of livestock is negatively effected by the animals getting sick from the diseased barley then the price of livestock will increase and the quantity will decrease.
This situation was caused by the weather in Scotland. Due to the extensive winter and cold conditions, farmers were unable to drill for seeds until later than they usually would. When drilling for barley seeds a fine warm seed be is advised, but farmers experienced cold, wet soil. This created slow emergence, forcing farmers to drill later and high infection levels which could significantly reduce plant counts. There doesn't seem to be a clear resolution to this problem. The fungal diseases are not extremely devastating in themselves, but how wide spread they are is worrisome. Suggesting that farmers test their seeds for disease will help. This will allow farmers to give buyers more information about the barley seeds sold.
This article explains how the spring barley seed, planted in 2012 and being sown now, likely contains much higher levels of disease than normal. Testing indicates that more than 40% of the current crop could be infected with unprecedented levels of two fungal diseases, fusarium and microdochium. Farmers hoping to sell their barley crops to maltsters for use in brewing beer and distilling whiskey may find buyers unwilling to purchase infected grain. These disease also can cause reduced yield, low weights and reduced seed germination for farmers as well as possibly harming livestock if used in fodder. The end of the article briefly touches upon the proposals for agricultural trailers to undergo an annual road test aimed at reducing accidents. These proposals could negatively effect farmers and may deliver little genuine safety benefit.
The effects of the diseased barley seed could be present in many different markets. The first and most obvious market that will be affected, is the market for barley seed. The article mentions how beer brewers and whiskey distillers may be uninterested in buying Scottish barley seed because of the fungal diseases. If this did occur the demand for barley seed would decrease, causing the price and quantity of barley seed to also decrease. Another effect on the barley seed market could be a decrease in supply because the diseases negatively affect the amount of barley seed harvested. A decrease in supply would increase the price and decrease the quantity of barley seed sold in Scotland. If demand and supply both shifted in this way, the quantity would surely go down but the price could go up, down or stay the same. Other markets that could be affected are the markets for whiskey and beer. If the cost of barley goes up, either due to having to import barley from elsewhere, or because of the decrease in supply of barley, the supply of whiskey and beer could also decrease. This decrease in supply of Scottish beer and whiskey would cause an increase in the price and a decrease in the quantity. The final market I looked at was the market for livestock. If the supply of livestock is negatively effected by the animals getting sick from the diseased barley then the price of livestock will increase and the quantity will decrease.
This situation was caused by the weather in Scotland. Due to the extensive winter and cold conditions, farmers were unable to drill for seeds until later than they usually would. When drilling for barley seeds a fine warm seed be is advised, but farmers experienced cold, wet soil. This created slow emergence, forcing farmers to drill later and high infection levels which could significantly reduce plant counts. There doesn't seem to be a clear resolution to this problem. The fungal diseases are not extremely devastating in themselves, but how wide spread they are is worrisome. Suggesting that farmers test their seeds for disease will help. This will allow farmers to give buyers more information about the barley seeds sold.
Monday, April 8, 2013
Country Profile Part One: Scotland Culture
Popular Sports
The most popular sports in Scotland are football (soccer in U.S.), rugby and golf. Cricket, curling and shinty are games that are popular in Scotland and not well known in the U.S. Scotland has a Men's National Football Team and a Women's National Football Team with fans known as the Tartan Army. Internationally famous athlete, Andy Murray, known for his gold medal win in the 2012 Olympic tennis final, was born in Glasgow, Scotland. My parents and I enjoy watching tennis, specifically Wimbledon, and always cheer on Andy Murray.
The Highland games are and important part of Scottish history and culture. They include some sporting events, as well as music and dancing events. I found the wikipedia page to be interesting and helpful:
Highland Games
Music
When thinking of music in Scotland, most immediately jump to the bagpipe. The bagpipe is an important historical instrument for the Scottish and is played in Scottish folk music, which has remained a part of Scottish culture to this day. Piping in Scotland is connected to Gaelic singing, stepdance and fiddle.
Today more mainstream styles of music are popular in Scotland, such as rock, pop, and jazz. The Proclaimers are a famous Scottish band, known for their song I'm Gonna Be (500 Miles), a personal favorite of mine and featured below.
Food
Much of Scottish food originated in Scotland, though it has some British, French and other European influences. Game, dairy products, fish, fruit, vegetables are fairly common in Scotland and are featured in most traditional foods. Scottish cuisine focuses on simplicity, using few spices, which were expensive. Some notable traditional Scottish foods include haggis, old Scots brown soup, Solan goose, and calves foot jelly.
I found this site helpful in understanding better understanding Scottish foods:
Scottish Food
Major Religions
Christianity is the most practiced religion in Scotland, with the majority of these Christians belonging to the Church of Scotland. The Church of Scotland, also known as the Kirk, officially formed in 1560. Catholicism is the second largest religion in Scotland, though many Scots are non-religious. Below is a breakdown of the major religions in Scotland:
National Holidays and Traditional Customs
Hogmanay: This is the Scottish celebration of New Years Eve. During this celebration a 'First Footing' custom is observed. The first foot to enter a house in the new year must belong to a male with dark hair. I was considered bad luck if blonds or redheads, and especially women were the first-footers in a house.
St. Andrew's Day: Celebrated on November 30th, this day celebrates St. Andrew, the patron saint of Scotland. This day is an official bank holiday in Scotland.
Beltane: an ancient Gaelic festival celebrated in Scotland, Ireland and the Isle of man. It takes place at the beginning of summer and is still celebrated today by some Scots.
Popular TV Shows and Movies
Scotland's most watched television show today is The Hour, which is a Scottish magazine show. A popular TV show of the past is Francie and Josie, a series revolving around two comedians which aired from 1958 to the 1990s. Some famous Scottish actors include Sean Connery, Robert Carlyle, Tilda Swinton, Ewan McGregor, Gerard Butler, James McAvoy, and Robbie Coltrane. Here is a link to some "Great Scottish Movies."
Online News Sources
BBC News Scotland
Aberdeen's Evening Express
Scotsman
Scots Magazine
Online Forums for Expatriates
http://www.scotland.org/us
http://www.transitionsabroad.com/listings/living/living_abroad/living_in_the_united_kingdom.shtml
http://www.expatexchange.com/scotland/liveinscotland.html
Government
When understanding the Scottish government, confusion often arises when understanding the purpose and duty of the Scottish Parliament versus the U.K. Parliament which governs over the entire U.K. The government of the U.K. legislates over many 'reserved matters,' such as defense. The Scottish Parliament legislates over health, education, law, transport and many other things known as 'devolved matters.' The current first minister of Scotland is Alex Salmond, pictured below. The current Scottish Parliament contains six political parties listed here in order of popularity: Scottish National Party, Labour Party, Conservative and Unionist Party, Liberal Democrats, Scottish Green Party.
Here is a helpful link about the Government of Scotland:
Government of Scotland
The most popular sports in Scotland are football (soccer in U.S.), rugby and golf. Cricket, curling and shinty are games that are popular in Scotland and not well known in the U.S. Scotland has a Men's National Football Team and a Women's National Football Team with fans known as the Tartan Army. Internationally famous athlete, Andy Murray, known for his gold medal win in the 2012 Olympic tennis final, was born in Glasgow, Scotland. My parents and I enjoy watching tennis, specifically Wimbledon, and always cheer on Andy Murray.
The Highland games are and important part of Scottish history and culture. They include some sporting events, as well as music and dancing events. I found the wikipedia page to be interesting and helpful:
Highland Games
Music
When thinking of music in Scotland, most immediately jump to the bagpipe. The bagpipe is an important historical instrument for the Scottish and is played in Scottish folk music, which has remained a part of Scottish culture to this day. Piping in Scotland is connected to Gaelic singing, stepdance and fiddle.
Today more mainstream styles of music are popular in Scotland, such as rock, pop, and jazz. The Proclaimers are a famous Scottish band, known for their song I'm Gonna Be (500 Miles), a personal favorite of mine and featured below.
Food
Much of Scottish food originated in Scotland, though it has some British, French and other European influences. Game, dairy products, fish, fruit, vegetables are fairly common in Scotland and are featured in most traditional foods. Scottish cuisine focuses on simplicity, using few spices, which were expensive. Some notable traditional Scottish foods include haggis, old Scots brown soup, Solan goose, and calves foot jelly.
I found this site helpful in understanding better understanding Scottish foods:
Scottish Food
Major Religions
Christianity is the most practiced religion in Scotland, with the majority of these Christians belonging to the Church of Scotland. The Church of Scotland, also known as the Kirk, officially formed in 1560. Catholicism is the second largest religion in Scotland, though many Scots are non-religious. Below is a breakdown of the major religions in Scotland:
National Holidays and Traditional Customs
Hogmanay: This is the Scottish celebration of New Years Eve. During this celebration a 'First Footing' custom is observed. The first foot to enter a house in the new year must belong to a male with dark hair. I was considered bad luck if blonds or redheads, and especially women were the first-footers in a house.
St. Andrew's Day: Celebrated on November 30th, this day celebrates St. Andrew, the patron saint of Scotland. This day is an official bank holiday in Scotland.
Beltane: an ancient Gaelic festival celebrated in Scotland, Ireland and the Isle of man. It takes place at the beginning of summer and is still celebrated today by some Scots.
Popular TV Shows and Movies
Scotland's most watched television show today is The Hour, which is a Scottish magazine show. A popular TV show of the past is Francie and Josie, a series revolving around two comedians which aired from 1958 to the 1990s. Some famous Scottish actors include Sean Connery, Robert Carlyle, Tilda Swinton, Ewan McGregor, Gerard Butler, James McAvoy, and Robbie Coltrane. Here is a link to some "Great Scottish Movies."
Online News Sources
BBC News Scotland
Aberdeen's Evening Express
Scotsman
Scots Magazine
Online Forums for Expatriates
http://www.scotland.org/us
http://www.transitionsabroad.com/listings/living/living_abroad/living_in_the_united_kingdom.shtml
http://www.expatexchange.com/scotland/liveinscotland.html
Government
When understanding the Scottish government, confusion often arises when understanding the purpose and duty of the Scottish Parliament versus the U.K. Parliament which governs over the entire U.K. The government of the U.K. legislates over many 'reserved matters,' such as defense. The Scottish Parliament legislates over health, education, law, transport and many other things known as 'devolved matters.' The current first minister of Scotland is Alex Salmond, pictured below. The current Scottish Parliament contains six political parties listed here in order of popularity: Scottish National Party, Labour Party, Conservative and Unionist Party, Liberal Democrats, Scottish Green Party.
Here is a helpful link about the Government of Scotland:
Government of Scotland
Friday, April 5, 2013
Reinventing the Bazaar: Chapter 1
In the first chapter of Reinventing the Bazaar, McMillan explains what he believes are the defining characteristics of a market. He begins by stating that "a market for something exists if there are people who want to buy it and people who want to sell it," continuing with the dictionary definition of a market, "a meeting together of people for the purpose of trade by private purchase and sale" (p 5). This indicates two defining characteristics of a market, the desire to buy and sell an item must be present, and an exchange between two individuals should take place. He then expands on this definition, claiming it is not detailed enough. McMillan believes that a key factor in defining a market is 'decision-making autonomy.' This autonomy is what creates a market transaction. An individual must be allowed to make their own choices in buying or selling a good, even if this autonomy is only the ability to accept or decline a transaction. A quote that struck me was, "No one is in charge of the market - or rather, everyone is in charge" (p. 7). This quote explains how no one person controls the decisions made in a market, everyones autonomy in their decision making combines creating the market. To review, the three main characteristics of a market: The desire of individuals to buy and sell, the existence of a transaction, some level of decision-making autonomy in this transaction.
McMillan touches upon peoples differing view of markets, while some people believe that the invisible hand of the market should be left unchecked, others think a market must be regulated to be successful. Many people believe that a market should be left to set itself, and that very few regulations and control should be imposed on a market as these factors only interfere with a markets inherent accuracy. These people believe that non-market action unhelpful and also may fear that the regulators of the market, likely the government, will become too controlling. This is understandable as the more rules and regulations placed on a market, the less decision-making autonomy the market participants have. As McMillan explained, this autonomy is crucial in the market functioning properly. Others are wary of complete autonomy in a market, believing that the market cannot be trusted to fairly control itself. With complete autonomy, decisions can be made that are not beneficial to the market and exploitation can occur. These people think the government should step in, creating laws and regulations for a market to follow that prevent negative market factors and protect people from becoming victims of a market.
It is clear to me that some regulation is needed in a market. McMillan states that a market will only be successful if "information flows freely through it," and "people can trust each other" (p 10). For these factors to be present in a market, some regulation is required. Rules that limit the ability for buyers and sellers to deceive each other foster trust in a market. Information about products being sold should be given to the buyer and information on similar products should be easily accessible. The government may need to create regulations that monitor the disclosure of information to a customer and the freedom of information. If a buyer knows that government law ensures the quality of goods, more market transactions will take place. Buyers will have more trust in sellers giving them a quality product. Even though this non-market action is needed to assist the market, I am also cautious of excessive government intervention. As a government expands it's control over a market, autonomy is lost. This autonomy is what fosters growth in the market as growth is due to "trial and error, through the market participants' everyday actions" (p 12). Without allowing the participants of a market to experiment and make their own choices, they will not be able to discover what are successful and unsuccessful ways to expand. New ways of business that reduce transaction costs are beneficial to everyone in a market, with excessive regulations on a market, these innovations would not be created.
Modern markets are governed by rules. The rules that allow for the freedom of information in a market and that foster trust are the ones that I believe are the most important because without these rules a market would not be able to move past a certain point. These rules are also crucial because they protect people from making bad decisions and also being victims of dishonest business. Some rules and regulations are necessary to create a successful market.
McMillan touches upon peoples differing view of markets, while some people believe that the invisible hand of the market should be left unchecked, others think a market must be regulated to be successful. Many people believe that a market should be left to set itself, and that very few regulations and control should be imposed on a market as these factors only interfere with a markets inherent accuracy. These people believe that non-market action unhelpful and also may fear that the regulators of the market, likely the government, will become too controlling. This is understandable as the more rules and regulations placed on a market, the less decision-making autonomy the market participants have. As McMillan explained, this autonomy is crucial in the market functioning properly. Others are wary of complete autonomy in a market, believing that the market cannot be trusted to fairly control itself. With complete autonomy, decisions can be made that are not beneficial to the market and exploitation can occur. These people think the government should step in, creating laws and regulations for a market to follow that prevent negative market factors and protect people from becoming victims of a market.
It is clear to me that some regulation is needed in a market. McMillan states that a market will only be successful if "information flows freely through it," and "people can trust each other" (p 10). For these factors to be present in a market, some regulation is required. Rules that limit the ability for buyers and sellers to deceive each other foster trust in a market. Information about products being sold should be given to the buyer and information on similar products should be easily accessible. The government may need to create regulations that monitor the disclosure of information to a customer and the freedom of information. If a buyer knows that government law ensures the quality of goods, more market transactions will take place. Buyers will have more trust in sellers giving them a quality product. Even though this non-market action is needed to assist the market, I am also cautious of excessive government intervention. As a government expands it's control over a market, autonomy is lost. This autonomy is what fosters growth in the market as growth is due to "trial and error, through the market participants' everyday actions" (p 12). Without allowing the participants of a market to experiment and make their own choices, they will not be able to discover what are successful and unsuccessful ways to expand. New ways of business that reduce transaction costs are beneficial to everyone in a market, with excessive regulations on a market, these innovations would not be created.
Modern markets are governed by rules. The rules that allow for the freedom of information in a market and that foster trust are the ones that I believe are the most important because without these rules a market would not be able to move past a certain point. These rules are also crucial because they protect people from making bad decisions and also being victims of dishonest business. Some rules and regulations are necessary to create a successful market.
Wednesday, April 3, 2013
Why Did Human History Unfold Differently On Different Continents For the Last 13,000 Years?
In Jared Diamond's article, "Why Did Human History Unfold Differently On Different Continents For the Last 13,000 Years?," he examines why societies developed differently on various continents. He attempts to pinpoint the cause of faster developing societies. By doing this he is able to explain why Eurasia was able to conquer the rest of the world and not the other way around. Diamond identifies environmental factors as the cause to the disparity in the development of different regions, noting that biological factors, such as average IQ, are not related to this difference.
Diamond identifies domesticable plants and animals, an east/west land orientation, and the ability to interact with other societies as the most important determinants of a society's success.
Societies with domesticable plants and animals yield more calories per acre allowing for greater population density and movement away from hunter/gatherer society. The existence of surpluses and storage due to agriculture allows for the development of a stratified society with governing elites. Domesticable plants and animals also allow for the accelerated development of technology because it is not necessary for all people to raise their own food so some can devote their time to creating "metallurgy, writing, swords and guns." The domesticable plants and animals also allowed for the spread of germs and disease which wiped out hunter/gatherer societies.
An east/west land orientation allows for the spread of these domesticable plant and animal species because of the same day-lengh and climate. In north/south oriented continents, plants and animals that are domesticated in on region cannot be easily spread to other regions without adaptation. Eurasia being oriented on an east/west axis allowed for the fast spread of domesticated plants and animals. Africa and the Americas are oriented on a north/south axis making the spread of these species difficult.
Diamond also indicates a society's ability to interact and share technologies and developments with other societies allows for faster development. Societies sometimes experience fads where they discontinue beneficial practices or start a non beneficial practice. When these societies are in contact with others that did not experience this fad they are able to redevelop in a positive way. When a society is isolated they do not have other societies to share and gain technologies from, they do not develop as as quickly.
Due to the connectedness and technology of the world today, different societies on different continents are able to interact readily. This allows for technology and new beneficial developments to spread from society to society throughout the world. Because of trade, plants and animals that are only able to grow in certain conditions can be used by many different societies.
Diamond identifies domesticable plants and animals, an east/west land orientation, and the ability to interact with other societies as the most important determinants of a society's success.
Societies with domesticable plants and animals yield more calories per acre allowing for greater population density and movement away from hunter/gatherer society. The existence of surpluses and storage due to agriculture allows for the development of a stratified society with governing elites. Domesticable plants and animals also allow for the accelerated development of technology because it is not necessary for all people to raise their own food so some can devote their time to creating "metallurgy, writing, swords and guns." The domesticable plants and animals also allowed for the spread of germs and disease which wiped out hunter/gatherer societies.
An east/west land orientation allows for the spread of these domesticable plant and animal species because of the same day-lengh and climate. In north/south oriented continents, plants and animals that are domesticated in on region cannot be easily spread to other regions without adaptation. Eurasia being oriented on an east/west axis allowed for the fast spread of domesticated plants and animals. Africa and the Americas are oriented on a north/south axis making the spread of these species difficult.
Diamond also indicates a society's ability to interact and share technologies and developments with other societies allows for faster development. Societies sometimes experience fads where they discontinue beneficial practices or start a non beneficial practice. When these societies are in contact with others that did not experience this fad they are able to redevelop in a positive way. When a society is isolated they do not have other societies to share and gain technologies from, they do not develop as as quickly.
Due to the connectedness and technology of the world today, different societies on different continents are able to interact readily. This allows for technology and new beneficial developments to spread from society to society throughout the world. Because of trade, plants and animals that are only able to grow in certain conditions can be used by many different societies.
Subscribe to:
Posts (Atom)