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Philine D

The Psychology of Scarcity, Days late, Dollars short - 1 views

www.economist.com/...r-mind-days-late-dollars-short

scarcity psychology of

shared by Philine D on 14 Sep 13 - No Cached
  • Clemente F on 14 Sep 13
     
    The article argues about the psychology that there is in the concept of scarcity. It is said that this concept is partially destroying the economy I believe. They say that because because of scarcity shortens a person's horizons but it is also very positive because when a person lacks of something acts differently. Even if they don't precisely know what they desire the fact that they may lack of it they may "succumb to a similar scarcity"
  • Haydn W on 16 Sep 13
     
    I think this is an interesting article as it explores not only how scarcity affects an economy but takes a physiological approach and investigates how scarcity can effect our mindset. This, I feel is particularly relevant in today's 'tough economy'.
  • Philine D on 17 Sep 13
     
    This article is essentially promoting a book that has been written about scarcity and the mindset that evolves from it. It is interesting because it offers you some real life example of scarcity and it explains the psychology of scarcity.
John B

CNN - GalapagosQuest: Water Scarcity in the Galapagos - March 9, 1999 - 0 views

edition.cnn.com/...index.html

Scarcity of Water

shared by John B on 13 Sep 13 - No Cached
  • Water is a scarce and valuable resource in the Galapagos and always has been. Only a few of the islands have regular springs where people can find water. The presence of water depends mostly on rainfall, which happens only between January and June, the wet season. The amount of rainfall is different from year to year and from island to island. But the greatest variation is a result of altitude. The highlands receive a lot more rain than the coastal areas and are a better place for most plants, animals, and people to live. Most of the underground pools and springs are found only on the older islands, like San Cristobal, Santa Cruz, and Santa María. Here, thousands of years of erosion created pockets and caverns deep underground where rain water and dew could pool and be collected. Patrick Watkins figured this out pretty quickly and managed to survive here for years. Others weren't so smart, or so lucky.
  • Back home we take water for granted, even though we know we shouldn't. People here on Santa María know what it's like to not have water for days, to go without showers and to settle for just one glass of water a day. That trickling rock where pirates filled their water casks still keeps Santa María alive. Rubber hoses carry water over four miles downhill to town, irrigating gardens and watering cattle along the way.
  • John B on 13 Sep 13
     
    I think that this article has a very important aspect on the water scarcity in the world. It's about a person visiting the Galapagos where water is seen as a very valuable resource. It can pass days before the people living on the Galapagos can drink water again. This made me think about how we (in Sweden) even flush down clean water in the toilet, and then there are people who does not even have clean water to drink every day. Though the article was posted in 1999, which was a while ago, but there is still water scarcity in parts of the world that we need to consider in our daily life. To perhaps donate money to organizations that help these people who have a lack of clean water.
  • Jakub B on 16 Sep 13
     
    Yes, indeed. There are few people from Western countries who notice that problem because they do not face with it. Of course there are still many other locations (especially in Africa), in which the residents' strongest desire is connected with scarcity of water.
  • Yassine G on 23 Sep 13
     
    In order for people to realize something is to go through it. I think that if governments around the world start supplying a limited amount of water to every house, depending on how many people live in it. this would make people realise how scarce water is and eventually start using it efficiently.
Dina B

How facing a scarcity - of cash, time, even play - can reset the way we think - 0 views

www.theglobeandmail.com/...article14321835

scarcity

shared by Dina B on 17 Sep 13 - No Cached
  • Dina B on 17 Sep 13
     
    This is an interesting article that talks about how scarcity can really badger with people's mind. It also talks about how it makes us as people, focus. I think this is because we need scarcity to be able to achieve our goals to make the resources we want easier for us to get. This article mentions the phycological research done by Prof. Shafir collaborating with an economics professor Sendhil Mullainathan to write ' Scarcity: Why Having Too Little Means So Much '. It is an interesting read.
Marenne M

Experts say future water scarcity threatens Pakistan - UPI.com - 0 views

www.upi.com/...71375251777868

water scarcity pakistan

shared by Marenne M on 16 Sep 13 - No Cached
  • Pakistan will face an acute water shortage in the not-too-distant future
  • no access to clean drinking water, and farmers lack irrigation water
  • he backbone of the economy
  • ...14 more annotations...
  • not far from being classified as 'water scarce,' with less than 1,000 cubic meters per person per year.
  • eak regulation, lack of such demand-management tools as consumer meters and "highly inappropriate tariffs”
  • Agriculture
  • storage capacity is equivalent to only a 30-day supply, compared with the recommended 1,000 days
  • ater scarcity means compromising on water quality as well as quantity.
  • Many of Pakistan's rivers pass through India first, giving India control over their flow, and water has been an issue between the two countries in the past -- leading some to point to the possibility of a future war over water.
  • mismanagement and criminal negligence of our successive governments
  • construction of large dams and better planning.
  • solution
  • 18 million gallons of water ran out to sea.
  • 3 percent less water than it needs
  • We should increase efficiency of irrigation by sustainable agriculture practices and advanced technologies.
  • India over water because agriculture is [the] backbone of our economy,
  • dialogue with
  • Marenne M on 16 Sep 13
     
    This article describes the scarcity of water in Pakistan due to a lack of organization and planning. It goes into detail about what causes the scarcity of water, what the current effect is on Pakistan, what effect it could have in the future, and some solutions to this problem.
Talisha R

Water Scarcity - 0 views

articles.economictimes.indiatimes.com/...carcity-water-tariff-raw-water

Water Scarcity Demand

shared by Talisha R on 14 Sep 13 - No Cached
  • Talisha R on 14 Sep 13
     
    I think this article relates to what we are studying as it mainly talks about scarcity. It says that water scarcity is one of the main challenges in Delhi, there is a huge demand for it but they need to learn how to distribute it around the city. People usually do not think that water is scarce, however this article shows that it is and people need to learn how to effectively distribute it.
  • Clemente F on 16 Sep 13
     
    Water scarcity is a very tough argument. We are consuming very high quantities of water and a huge part is being wasted. The study of economics may help people the population to make a "production possibility curve" so that the use of water is balanced.
  • Yassine G on 23 Sep 13
     
    It's really important that everyone start to realize how bad this cold be in the long run. If this wasteful use of water continues, we are going to face some serious consequences. Scientists should start working on developing new methods for agricultural use of water, as agriculture is considered to be on top of the consuming industries of water in many areas. meanwhile I think that countries should develop a water consuming rule, that somehow reduces water consumption.
Yassine G

The Looming Threat of Water Scarcity - 1 views

www.resilience.org/...oming-threat-of-water-scarcity

scarcity threat water resources risks

shared by Yassine G on 23 Sep 13 - No Cached
  • Some 1.2 billion people—almost a fifth of the world—live in areas of physical water scarcity, while another 1.6 billion face what can be called economic water shortage
  • Yassine G on 23 Sep 13
     
    This articles talks about how much people have to live with less amount of water than they need or, with no water at all in some cases. It also highlights the countries that use a lot of water and how they are using it. It also rises awareness about this global issue and its long and short-term impact on us. 
Azeem K

Nigeria: Fish Scarcity Hits Kaduna As Prices Increase By 20 Percent - 1 views

allafrica.com/...201309230374.html

Scarcity

shared by Azeem K on 24 Sep 13 - No Cached
  • Fish Scarcity
    • Azeem K
      Azeem K on 24 Sep 13
       
      This is a good example and consequence of scarcity! 
  • raising its price by about 20 per cent,
  • ...1 more annotation...
  • was caused by inadequate supply for more than two weeks.
Pietro AA

Analysis: Energy costs keep Japan's focus on nuclear, despite risks and use of renewabl... - 0 views

www.foxnews.com/...-nuclear-despite-risks-and-use

scarcity Opportunity Cost energy risks japan

shared by Pietro AA on 16 Sep 13 - No Cached
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      Other scarse vaariables introduced: time and technology
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      safety is a desire of most men and it is also not infitite therefore it is scarse.
  • ctions take about six months for each reactor, and obtaining con
  • ...19 more annotations...
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      a conflict between the scarsity of safety and scarsity of energy
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      a conflict between the scarsity of safety and scarsity of energy
  • Energy costs keep Japan's focus on nuclear, despite risks and use of renewables
  • other plants remained closed for intensified safety checks
  • The issue is cost, and to a lesser extent, concern over a resurgence in climate-changing carbon emissions due to increased use of coal and oil to generate power. Clean energy still only accounts for 10 percent of total consumption — most of it hydropower. Much of the new capacity approved has yet to come online.
  • nuclear power remains essential, even with a surge in generation capacity from solar, wind and other renewable sources, and that the world's No. 3 economy cannot afford the mounting costs from importing gas and oil.
  • Japan has managed to avoid power rationing and blackouts. Industries have moved aggressively to avoid disruptions by installing backup generators and shifting to new sources, such as solar power.
  • households no
  • paying 30 percent more for electricity than before, with more rate hikes to come.
  • prompted a rethink of plans to raise nuclear capacity from one-third to over half of total demand.
  • Reliance on imported oil and gas has surged from about 60 percent of energy consumption to about 85 percent.
  • The recent weakening of the Japanese yen has added to the burden on the economy from oil and gas imports.
  • Abe and others in favor of resuming nuclear power contend that renewable energy is too expensive and unreliable — wind doesn't always blow, the sun doesn't always shine.
  • Apart from those issues, national security requires that Japan retain some self-sufficiency
  • Local communities are divided: many have relied heavily on nuclear plants for jobs and tax revenues, but worry over potential risks.
  • hat there's a huge opportunity in power
  • We're also seeing radical efficiency gains.
  • he disposal and security of nuclear waste are issues yet to be resolved.
  • For now, however, it appears any phase-out of nuclear power will be very gradual.
  • "In the long term if we can create new resources that are more efficient than the current oil-based system, then we can rely less on nuclear power, that's quite possible," Adachi said. "But it will take quite a long time."
  • Pietro AA on 16 Sep 13
     
    This article shows how, since the meltdown of the Fukushima plant in 2011, the "want" of security (which is scarce) increased and gave energy problems to the country (energy is one of the most important scarce resources . Japan finds itself making decisions limited by the scarcity of energy, safety, time and technology. Should it take risks and stop spending money? Should it keep everybody safe and just go for the hydrocarbur plants? Should it simply invest on renewable energy plants? Should it take time and reaserch   Pietro
Jakub B

Food Scarcity May Leave World Hungry Despite Growth - 0 views

www.forbes.com/...ve-world-hungry-despite-growth

scarcity food resources growth

shared by Jakub B on 16 Sep 13 - No Cached
  • Jakub B on 16 Sep 13
     
    The article focuses on 'bigger problem' than economical growth in the US. It mentions rapid increase in prices of food (e.g. corn). The writer also compares the growth of median income with the upsurge of essential nutrients.
Daniel B

Scarcity of endangered species - 0 views

www.economist.com/...rs-rhinos-elephants-tigers-and

scarcity animals risks biodiversity

shared by Daniel B on 17 Sep 13 - No Cached
  • Daniel B on 17 Sep 13
     
    This article shows threats of hunting endangered species. The local community doesn't care about biodiversity because their aim is to gain profits from trading rare and luxury goods. Their actions are now limited, however, they still break laws. Scarcity of animals is always common topic.
Fiete M

Tesla moves ahead from Google in race to build self-driving cars - 0 views

www.ft.com/...af-11e3-8861-00144feab7de.html

scarcity cars tesla demand technology

shared by Fiete M on 17 Sep 13 - No Cached
  • Fiete M on 17 Sep 13
     
    This article is a good example of scarcity I believe because, it shows that there is a huge demand for robotic self-driving cars or in other words, they are scarce. This leads to many companies like google or Tesla starting to develope self-driving cars because they know that due to the scarcity of the product, they can charge big amounts of money and make a huge profit.
Zuzanna G

What happened to biofuels? - 0 views

www.economist.com/...l-organic-matter-has-proved-be

Scarcity biofuels fossilfuels

shared by Zuzanna G on 15 Sep 13 - No Cached
  • Zuzanna G on 15 Sep 13
     
    This article is simply about troubles with an alternative to one of the most worrying scarce resources - fossil fuels. Will we eventually have to find something else?
  • ...1 more comment...
  • Clemente F on 16 Sep 13
     
    I guess this is a fairly important problem the earth is living. Unfortunately we are overusing fossil fuels which are non-renewable resources and are therefore finite. I believe there is a to important market behind fossil fuels and this is probably why scientists are taking so much time to find something good enough.
  • Zuzanna G on 16 Sep 13
     
    Yes indeed, you're right. I believe this is one of the most important factors among markets; in fact transport rests on it. Well, we still have some time and I'm full of hope scientists will strike a happy medium :)
  • Haydn W on 16 Sep 13
     
    This is an interesting article as it shows how most people and businesses aren't actively investing in Bio Fuels, a renewable source and instead continuing to settle for scarcer fossil fuels even as the price of petroleum rises sharply in many countries. I think it's a sad fact really that we aren't taking a more active role in protecting our planet from vast exploitation.
Haydn W

Rightmove triples its estimate for housing price rises | Money | The Guardian - 0 views

www.theguardian.com/...-estimate-house-price-increase

The Guardian Money House Prices Scarcity Opportunity Cost UK Help to Buy

shared by Haydn W on 16 Sep 13 - No Cached
  • A leading estate agent has tripled its forecast for house price rises in 2013
  • Online estate agent Rightmove has raised its 2013 house price forecast for the third time this year to more than double the rate of inflation
  • The chain expects the average property price to increase by 6% this year
  • ...14 more annotations...
  • On Wednesday the Bank of England's financial policy committee
  • and what remedial measures
  • discuss the possibility of a property bubble
  • can be taken
  • The Royal Institution of Chartered Surveyors (Rics)
  • has called on the committee to cap annual house price growth at 5% a year.
  • Vince Cable, the business secretary, has warned of the risks of "returning to the problems of the last decade when housing got out of control,"
  • and said the chancellor should consider halting the second phase of his Help to Buy scheme.
  • The controversial mechanism, which
  • will allow people to buy homes worth up to £600,000 with a 5% deposit.
  • The Liberal Democrat president, Tim Farron, also attacked George Osborne's flagship scheme
  • The Rightmove report said the average asking price reached £245,495 in September, a 4.5% increase on the same month a year earlier.
  • Prices are rising fastest in greater London, up 8.2% over the past year to £493,748, and the West Midlands, up 6.8% to £195,429.
  • In London, prices are up in all boroughs except Barking & Dagenham (down 0.8% to £218,242). Prices in Croydon and Tower Hamlets rose by more than 2% in September alone.The most expensive homes are in Kensington and Chelsea, where the average home is priced at £2.16m – a 6.5% increase on last year.
  • Haydn W on 16 Sep 13
     
    This article explains how many organisations are forecasting a rise in house prices in my home country, the UK. It also details opposition by UK politicians to the Chancellor's 'Help to Buy' scheme which is supposed to help more people get on the property ladder. I believe this is related to what we are studying in Economics as it relates to houses being a scarce resource and how people have to choose between the increasing difficulties of getting on the property ladder and other living essentials in todays economy. (Opportunity Cost)
Sebastian G

Has The Earth Ever Run Out of a Natural Resource? | Resource Investor - 0 views

www.resourceinvestor.com/...-run-out-of-a-natural-resource

scarcity resources

shared by Sebastian G on 17 Sep 13 - No Cached
  • Sebastian G on 17 Sep 13
     
    This article is concerned about the question if the earth has ever run out of a natural recource. Until now there hasn't been any recourse that ran out before it became irrelevant for our economy.
Yassine G

Water Demand for Energy to Double by 2035 - 0 views

news.nationalgeographic.com/...d-for-energy-to-double-by-2035

demand energy double Scarcity risks resources

shared by Yassine G on 27 Sep 13 - No Cached
  • The amount of fresh water consumed for world energy production is on track to double within the next 25 years
  • the IEA calculates that water consumed for energy production would increase from 66 billion cubic meters (bcm) today to 135 bcm annually by 2035.
  • The agency estimates oil and natural gas production together would account for 10 percent of global energy-related water demand in 2035.
  • ...4 more annotations...
  • "It takes a great deal of energy to supply water, and a great deal of water to supply energy. With water stress spreading and intensifying around the globe, it's critical that policymakers not promote water-intensive energy options."
  • Fellow
  • IEA sees coal-powered electricity driving the greatest demand for water now and in the future
  • Steam-driven coal plants always have required large amounts of water
  • Yassine G on 27 Sep 13
     
    This article gives you an idea of how we get our energy today, and how we will be getting it in the upcoming years. It emphasizes mostly on water, as water is being used in Steam-driven coal plants in a large amount. These plants are increasing as they are more environmental friendly. This means that demand on water is increasing rapidly although water itself is a becoming very scarce. This High demand for this scarce very important natural resource raises many questions about how we would be able to survive in the long run.
fie dahl

Colorado town unlivable for months after flooding, residents are told - 0 views

usnews.nbcnews.com/...er-flooding-residents-are-told

colorado scarcity water

shared by fie dahl on 23 Sep 13 - No Cached
  • fie dahl on 23 Sep 13
     
    I choose this article because it shows how something as basic as water can be scarce even though there is so much of it - I couldn't find the article I originally wanted to post, but it described how people were told to save water! normally we don't even think about water being scarce, but then when things like this occurs water is suddenly both the cause to water being scarce and the object turning scarce it selves.
Clemente F

What happens when easy money ends? - 0 views

www.theglobeandmail.com/...article14853709

Demand Supply Equilibrium Scarcity

shared by Clemente F on 14 Oct 13 - No Cached
  • Clemente F on 14 Oct 13
     
    The article talks aboutthe quantative easing the FED gave and how it may affect the markets. "As interest rates rise, so does the expected return. This, in turn, pushes down the price that investors are willing to pay for a dollar in earnings" this is the concept of equilibrium in a more financial point of view. It says that the steeper the field curve is the higher the interests will be and therefore the equilibrium rises.
Yassine G

The End Of Elastic Oil - Forbes - 1 views

www.forbes.com/...the-end-of-elastic-oil

elasticity demand Scarcity resources energy price Supply

shared by Yassine G on 18 Oct 13 - No Cached
  • Yassine G on 18 Oct 13
     
    This is a very interesting article that really helps understand this topic in depth and with real examples. Oil market is one of the largest in the world, this article talks about elasticity of demand and supply in this market. There is an explanation on the effects of different factors that determine the elasticity and what they do for this market. 
  • Jakub B on 20 Oct 13
     
    Although there are discovered new sources of oil (e.g. in Saudi Arabia), the suppliers have to drill deeper which is time-consuming and therefore the costs of production rise. 'In economic terms, the oil supply is becoming less elastic as new oil supplies come increasingly from unconventional oil.'
Hardy Hewson

Breakfast Items Lead a Big Jump in Food Prices - 3 views

www.nytimes.com/...a-big-jump-in-food-prices.html

government aggregatesupply Production Scarcity price

shared by Hardy Hewson on 28 Mar 14 - No Cached
  • Hardy Hewson on 28 Mar 14
     
    The cost of meats, fish and eggs led last month to the biggest increase in food prices in nearly two and a half years, according to government data. An index that tracks those foods rose 1.2 percent in February and has climbed 4 percent over the last 12 months. This article outlines the effect of diminishing supply on national food prices. The example featured in this brief article is on the increase price of breakfast foods in the United States.
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