1. Choose one of the unprecedented stresses on the earth resources and describe how it will negatively affect the quality of life of people living in developing countries and people living in modernized countries.

Food production is an unprecedented stress that will affect both developing countries and modernized countries. It will negatively affect both because there will need to be an increase in food production, which will be extremely difficult when there is a decrease in fresh soil to farm on.

2. What is the major debate around the future of market-based economies?

The debate is on how to balance the basic market oriented approach with any of the regulatory feature or social safety policies.

3. How has this technological revolution different the previous technological revolutions and what two factors of production and now more important than capital, labor and raw materials?

The technological revolution has changed in that it is now focused on low-cost telecommunication, rather than machinery or use of raw materials. Knowledge and creativity are now more important when it comes to production than capital, labor, and raw materials.

4. What new service ideas have you had direct experience with? Drawing on your personal experience what are the benefits and drawbacks of these new service ideas?

I recently just bought a new car. I am making payments every month, but I am paying $270 a month on my car and $30 a month on services for my car, which are not optional. I chose to go with an insurance and roadside assistance plan that was not the best, but also not the minimal. While I do not enjoy the extra $30 a month I pay, I do enjoy knowing that my car is safe to drive and is covered by the dealership on top of my insurance company, which is a totally separate payment. The $30 a month is a drawback because it makes me feel like I am paying for insurance, that I already pay for through my insurance company. However it is nice because it makes me feel extremely safe driving my new car, if anything would happen I know I would be covered by one or the other.  

Quote

“Second, giving things away has become routine, because in the new world economy, where many things get flipped upside down, it can make sense.”

Response

After reading this statement I was confused as to what they meant at first by “giving things away” because I make a lot of payments a month on things like rent, utilities, insurance, bills, etc. Then once I continued reading I completely understood where the author was going, and I totally agree. There is a lot of networking and sharing that is used even today, and this will only continue to grow with the changes in the economy. For example, there are no cell phone towers in Morgantown, WV for Sprint. However, you can still receive service and make calls or text, just as easily as if there were Sprint towers in Morgantown. This is because even though Sprint does not have any towers built there, they are in a partnership with AT&T. The two companies are separate and remain to have different service plans, prices, and variety of phones, but AT&T shares their towers with Sprint, which does not affect either sides customers. I have had both AT&T and Sprint and the prices of the service are virtually the same and neither service is really better when I look at how well my phone works, but the difference is rather how well my cell phone provider works with me or personally benefits me.

Connection

Resources

Google Images- Networking

https://www.google.com/search?hl=en&q=networking&bav=on.2,or.r_gc.r_pw.r_cp.r_qf.&biw=1366&bih=624&um=1&ie=UTF-8&tbm=isch&source=og&sa=N&tab=wi&ei=OmBuUKn8Osff0QHysYDgDg

Rischard, J. F.. High noon: twenty global problems, twenty years to solve them. New York: Basic Books, 2002. Print.