Andy's PJE 2013-15 SL Economics class

Official figures about to be released are expected to show the UK economy grew at its fastest rate since before the financial crisis.

Indonesia's economy is reporting the slowest growth rate in 4 years. While in the previous years the GDP increased by over 6 % this year the economy only grew by 5.78 percent. Apparently are declines in the import of raw materials and machinery, and the Indonesian central bank raised its benchmark 5 times to account for their current deficit of 10 billion.

The Australia government is proposing a change in their confusing government subsidies for childcare to have one single payment which subsidizes up to 90% for low income families. This is a tool to reduce income inequality and to encourage young children from lower income groups to be able to have a strong foundation in their education. The problem of this subsidy is the question of the unhappiness of the taxes payers who may resist this proposal because of the higher government expenditure incurred on families which may have many social problems and are unable to have a stable employment.

The following article summarizes Obama's speech, where he talks about how the economy is gradually recovering from the financial crisis. The President states how the housing, manufacturing and automotive markets are rebounding, and thus leading the US out of the financial crisis. Obama then explains how there still is a long road ahead for the financial crisis to be overcome, in order for nobody to be left behind without a job.

This article talks about the economy of Turkey and how it has changed rapidly within a few years all because of political stability, they say.

this article relates to week 18 economics and politics. the governments influence to oppress communication has resulted Ethiopia for only 2.5% of the population of 90 million able to use the internet.

Whether you own a sprawling estate or a shoebox with a tiny garden, any oil or natural gas to be found underground belongs to the Queen. How did this happen?

"Collective community-based rights could put the world's fisheries on a sustainable footing after decades of over-exploitation, an expert suggests."

The following article talks about how 2 local environmental activists Zé Cláudio Ribeiro and his wife Maria do Espirito Santo were shot outside their house by illegal loggers who were upset with them protecting the rainforest. On the same day that they were killed Brazil passed a new law making it easier for loggers, cattle farmers etc. to cut down parts of the rainforest reducing Brazil's Commons.

The population growth is affecting the environment globally.

This talks about Indian farming areas that are turned into housing plots

This is my article for this week's topic - Tragedy of the Commons/Public Access The article above relates to green economy and the government's actions pertain to sustaining the value of forests.  My write-up can be viewed here: https://pamojaeducation-com.campuspack.eu/Groups/13.Y2.ST.ODP.MAY.ECON.SL.A/Nattanopthorns_Economics_Blog/2014/01/15-2_-_Tragedy_of_the - Bee

Carbon markets have lost us more than 15 years in the battle against climate change yet we continue to plough forward with scaling them up. Why? Some hope that this global expansion of carbon markets will revive their fortunes, helping to raise billions for investments in low-carbon and climate change mitigation technologies. this article shows in a scense how market failure has negative impacts on the environment.

This talks about how New York deals with the negative externality caused by smoking.

"For those who cannot grasp the extent to which pollution can actually cause harm, how about this: an 8-year-old with lung cancer."

Smoking is a negative externality. Children who have exposure especially to relatives who smoke will have a greater chance of childhood asthma. The smoking ban is very healthful, as it has caused a decrease in the rate of children emitted to the hospital with severe asthma. The ban on smoking in the enclosed public places has helped the children to have less health problems. The government benefits because it reduces government expenditure in the NHS, which is a public good. The statistics reflect the decrease in admission of about 6800 is a positive benefit to the public especially the young children.

A negative externality hits the society as smokers affect children giving them asthma, according to this article. This effect does not affect the cigarette companies, however, but smoking restrictions came into force in attempts of decreasing the damage it does to society.

Car prices in Venezuela are expensive so the government put a price ceiling it.

This article is about the recent market failure indication in my country, citizens waiting for hours in the sun just to buy basic commodities like oil and sugar. this is due to business trying to over profit from these markets. the government tried to put price ceilings on these products however it lead to artificial shortages of the products in the market.

this article is about price control mechanism , price ceiling used on high price of plane tickets "creating competition is more effective at protecting customers from high prices than imposing ceiling prices for flight tickets on domestic lines."