M2016 Economics SL Mr. Friedman

Mr Tsipras's defiant parliamentary debut as prime minister - underlining a string of spending commitments such as raising the minimum wage in breach of Greece's two €240bn (£178bn) bailouts -will have had Germany's Chancellor Angela Merkel tearing her hair out in Berlin. The politics in Greece for the last five years was inconsistent and very harsh towards people who were oftentimes protesting and boycotting. The result of this politics has a strong impact on the country's economy, which is very fragile and is still deteriorating by harsh policies, taxation which affect not only Greece but the international market as well.

This article talks about the conflict between both Politics and economics. As the price of oil in America has decreased, some believe that there is an opportunity to increase the "gas tax". In this article they believe that this tax generated from this increase could be beneficial to the economy and could help improve infrastructure and making investments.

The article I posted explains how the new government in Greece would respond to the economic crisis in its country. I found this article relevant because Greece is planing to fire up the government spending so that the short-term problems will be alleviated.

This article identifies the problem associated with over-fishing caused by the tragedy of the commons.

This article not only gives brief information about the Tragedy of Commons but also considers the daily applications of it. It talks about the current market failure in today's oceans. It talks about the loopholes of the Law of the Sea, whereas it considers the possible solutions to that problem.

IN 1968 an American ecologist, Garrett Hardin, published an article entitled "The Tragedy of the Commons". He argued that when a resource is held jointly, it is in individuals' self-interest to deplete it, so people will tend to undermine their collective long-term interest by over-exploiting rather than protecting that asset.

Obama released a new budget in hopes that others would finally agree with him...

Coca Cola is soon to release a new line of milk. The lactose free milk will contain half the sugar of regular milk, 50% more protein and 30% more calcium. Studies have shown consumers are looking to add more protein into their diets, prompting the companies decision. The premium milk will cost twice that of other milk brands.

The price of condoms in Venezuela have skyrocketed to $755 a pack due to a collapse in oil prices. This is an example of market failure with dire consequences. Venezuela has one of the highest HIV infection and teenage pregnancy rates in South America. The collapse in oil prices has caused shortages in many basic products.

Here is an example of a market failure. The pharmaceutical drug is being sold at a price too high for consumers. The Canadian government plans to impose a price ceiling on the good.

Billionaire real estate investor Jeff Greene faced some harsh criticism after reports last week that he said America's lifestyle expectations are far too high and need to be adjusted, but Greene insisted to CNBC Wednesday that he was "completely misquoted."

There is ambiguity surrounding water laws and who owns what, resulting in a tragedy of commons. This can be fixed, so is thought, by water becoming a common property.

This article suggests how individual quotas were introduced due to the overfishing in the sea, which were aimed to better the situations. The individual quotas awarded the fisherman the right to catch a certain percentage of the total annual allowable catch. However, these tradable quotas caused great economical and ecological harm as big cooperations bought a majority of the shares. The article shows the different incentives taken by citizens and individual fishing operators and their associations to solve this problem.

The stocks of prawns, lobsters, and crawfish are plummeting drastically due to the dredging and trawling in inshore waters. Actions have been taken to improve the marine life, and regulations are being imposed on the dredging. The limitations of inshore fishing addresses the problems of seafood scarcity and depleting the marine population.

The oceans are a crucial for human life, and their everyday functioning. The oceans produce $3 trillion of goods and services each year and are untold value for the Earth's ecology. Despite this fact, humans continue to damage this valuable source of life, and the nature is damaging us back by the melting of the Arctic ice in summer, the spread of oxygen-starved dead zones and the death of coral reefs. An example where the nature is harming us back can be seen in Thailand where the coastal mangrove swamps were cleared to set up shrimp farms. However, the ocean storm surges in 2011, rushed in to flood the country's industrial heartland, causing billions of dollars of damage causing the market failure.

This article/picture relates to the tragedy of the commons as it highlights the fact that since some countries have public bathrooms that are free of charge, there is little to no upkeep for the bathrooms, and so the users of the bathroom won't clean up after themselves. However, in some places of Europe, bathrooms are paid for to maintain cleanliness and sanitation.

This article talk about how human impact on our oceans could lead to several extinction in the sea. Unsustainable fishing being a big contributor. This is a prime of example of Garrett Hardin idea of the Tragedy of the common as humans human as using up these shared resources for a private benefit, but they are not necessarily thinking about the future of these common resources. And supporting Garrett Hardin thoughts, we must find a way to determine which institutions are best to protect use resources.

This Article talks about the tragedy of the commons in Yukon. The territory has finite sources and ecologist Garret Hardin these resources have to be protected. But in Yukon and other places in the world today, these finite sources are not protected and corporations and companies can do what every they desire, This article outlines the problems of not protecting our natural resources, we are working against the good of the whole of society.

A garden was opened in the 'Walkie Talkie' tower on Tuesday the 12th in London. A garden which public has long waited for is now open for view.

Heathrow's expansion in order to accommodate for more travelers has been met with growing concerns for the noise. People living near the airport have complained about the added noise. The third party negatively affected by the expansion are the locals and neighbours of the airport.

I chose this article because it talk about indoor farming. This does not damage public land and it reduces waste. It satisfies a demand without deleting or damaging the commons (the land normally used for farming)

The article discusses the fact that the now dominant capitalist economic system has contributed to the breaching of several ecological boundaries, in relation to climate change, biodiversity loss and nutrient enrichment. These contributed to the dead corals and rising seas. This global change can bring big costs for, among other things, tourism and infrastructure. Thus, the negative externalities are basically the public costs that come from the pursuit of private profit, representing massive risks leading to all recent recessions arising from the mis-allocation of risks.