Prices and Money Supply
Prices, money, knowledge, and technology may not seem that they should be together, but all of the terms connect in one category. Money is a big issue when talking about prices in the past and present. Knowledge and technology are important, too.
Charts and graphs comparing prices of food and other items can be astonishing at what it brings forth. In 1915, the price of bread was at seven cents. Right now, if you go to your local grocery store, you can find a loaf of bread for about a dollar. That is most likely the lowest price available for a loaf of bread. The price has doubled fourteen times or has increased by 1328 percent- startling.
The percent change in wages is not even close to the percent change of prices on foods. The minimum wage in 1938 was twenty-five cents; today the minimum wage is at $5.15. The percent increase is exactly 1960 percent. There is a 500 percent difference in prices than wages. This means you can buy more items with the same amount of money today, than you could before.
In 1910, the money supply was at 3,148,000,000; in 1994, it was at 371,466,000,000. The percent increase is approximately 11700 percent. As you can see, the percent increase of the money supply is greater than the percent increase of prices, 10372 percent larger. This is where knowledge and technology come in to play. Technology has increased greatly, therefore letting producing become more competent. Technology would not be possible without having knowledge which makes technology expand, helping companies all over the world.
For example, the assembly line has lowered car prices greatly. It cuts the hours of making a car. Robots have been replacing humans throughout the world. The reason for replacing humans with robots is that robots do not work for money; they are programmed to run. This is only one of the many examples of technology and knowledge used wisely.
If knowledge and technology had not occurred, prices on all sorts of items would be multiplied. The example of the assembly line is perfect for explaining this concept. Let’s say robots were never made and humans are put in the robots position.
The minimum wage was, as it should be, a living wage, for working men and women ... who are attempting to provide for their families, feed and clothe their children, heat their homes, [and] pay their mortgages. The cost-of-living inflation adjustment since 1981 would put the minimum wage at $4.79 today, instead of the $4.25 it will reach on April 1, 1991. That is a measure of how far we have failed the test of fairness to the working poor.” (Burkhauser 1)
The United States Judicial System is made up of several different courts, which includes the federal court system, the state court system, and the local court system. All three of those court systems handle different types of cases and have their internal structures and roles.
Should Euthanasia be practiced? Is it justifiably moral and ethically right? Euthanasia is described as the painless killing of a patient in anguish from a fatal and agonizing sickness or in an indefinite coma. There are two major forms of Euthanasia that are morally and robustly debated, Active Euthanasia and Passive Euthanasia. Active Euthanasia is described as a good death, whether committed by the person themselves or from the assistance of a physician. Passive euthanasia is defined as the destruction of life through the act of withholding life-sustaining treatment. Active and passive euthanasia should be legally and ethically practiced. It can be argued that active and passive euthanasia is justifiably moral and ethically ok,
The federal government and the state government have its own court system. Both the federal and state court system has a hierarchically organized system. Sec.1article III of the constitution created the supreme court of the United States. This paper will compare and contrast the court system of the federal and state government. This paper will also point out the hierarchically structure of them both.
Proverbs 21:15 New Living Translation (NLT) states, “Justice is a joy to the godly, but it terrifies evildoers.” With that being said, there are “94 district courts, 13 circuit courts, and one Supreme Court throughout the country.” The court systems are not in place to be abused by the representative nor those that are looking for assistance. The court systems exist to provide justice for all.
The federal court system has three main levels: District Courts, Circuit Courts of Appeals and the Supreme Court. Through out the nation there are 94 district courts, 13 circuit courts and one Supreme Court (“The United States Department of Justice - United States Attorney's Office”). During the early days of the Federal Convention in 1787, the delegates all agreed on a plan for the government that will include national judiciary (“History of the Federal Judiciary”). Article III, in the Constitution, is the shortest article that established the institution of the government. Even though the article is very brief, it shows the judiciary to resolve different kinds of cases (including the ones that the United States is a party in implementing laws) like arguments of citizens of two or more states. (Magleby 379)
In the present day, the world's economy is ever-changing and adjusting. Many different reasons control the reasons for this. The future of currency is something that can only be predicted and is not guaranteed. However, there are many determing factors behind the changes that can take place. Asia and North America are two continents that have economies that have recently changed or are in the midst of change.
Today the federal minimum wage is $5.15, but should be about $8.50 if Congress had adjusted it for inflation over the past 35 years. While $5.15 may not seen that bad, when factoring in such variables as sky rocketing gas prices, budgets can get pretty tight. David Shepard, a sophomore at Wayne State University, worked at a Meijer Retail and Grocery Superstore for over two years while in high school. At the time Shepard lived with his parents and didn’t have to worry about paying rent or buying groceries, all that he had to pay for was filling up his gas tank and paying for his car insurance. Shepard recalled, “It was all I could do to pay for the basics like gas and bill’s, I barely had any money to have fun on the weekends”. This is only an example of a high school student that can nearly slip by on minimum wage with only a few expenses. There are 1.8 million people in America with children under the age of 18 that would benefit from an increase in minimum wage (Minimum).
system; state and federal. They both have three main courts and all of them have their own
Some would say the attempt to make a robot is an attempt to 'play god' and to recreate man. Others would argue that robots might become so intelligent that they would take over and replace humans. There is no better example of this than the movie Terminator, which begins with a world ruled by machines who are trying to kill the remaining human population. The actual field of robotics however, has produced many products which we take for granted. The clock is a household item that was developed in the beginning stages of machine ...
For many years robots have been used in factories and manufacturing processes to help humans do simple jobs. In the past robots were used for huge tasks such as in the production of a car by welding it or painting it. The future of robots in factories and manufacturing lies in the change of their utility. Robots are now being developed to do small tasks that take a high rate of precision. They also are being made to be smaller and easily reprogrammable, so they can do more than just one task in a singular location. The transition of robots taking a bigger role in the manufacturing process which forces out human workers is because of the reliability of having a consistent worker. Infosys an AI research company states, “ With robots attaining greater degrees of sensitivity in their touch capabilities, savvy manufactures are embracing robotics in greater volume to increase efficiency and work rates on production, picking and packing lines” (Limited, 2017) With robots becoming more advanced and cheaper to buy and operate many businesses have switched to robotics instead of workers. Robots can work continuously without stopping for a lunch break or to go home every 8 hours. In areas of the world that have high wages, robots are becoming an easy way for companies to cut cost by firing human employees they no longer need. They do not require a lot of training, which is an added cost to a company every time they hire a new human employee. Robots can also take over jobs that are dangerous for a human to do and perform the task at a higher success rate as well. In February of 2017 an article written by Kristin Houser explained how, a precision technology company in China replaced 90% of human employees with robots and saw 250% increase in production. A few of the issues with robots include the time needed to integrate and program
John Wooden, a famous basketball player and coach, once said, “I don’t believe in fate.” The height of John Wooden is just 178cm. It is not enough as a basketball player. His fate seemed to be sealed which was he could not do well in basketball. However, he still chased his dream step by step. At last, he succeeded. Similar to John Wooden, I don’t believe in fate either. Life is unexpected, fate doesn’t actually exist in the world and it always used as an excuse.
The market price of a good is determined by both the supply and demand for it. In the world today supply and demand is perhaps one of the most fundamental principles that exists for economics and the backbone of a market economy. Supply is represented by how much the market can offer. The quantity supplied refers to the amount of a certain good that producers are willing to supply for a certain demand price. What determines this interconnection is how much of a good or service is supplied to the market or otherwise known as the supply relationship or supply schedule which is graphically represented by the supply curve. In demand the schedule is depicted graphically as the demand curve which represents the amount of goods that buyers are willing and able to purchase at various prices, assuming all other non-price factors remain the same. The demand curve is almost always represented as downwards-sloping, meaning that as price decreases, consumers will buy more of the good. Just as the supply curves reflect marginal cost curves, demand curves can be described as marginal utility curves. The main determinants of individual demand are the price of the good, level of income, personal tastes, the population, government policies, the price of substitute goods, and the price of complementary goods.
The effects of cigarette smoking can be horrifying. Smoking is dangerous not only to those who smoke, but to non-smokers and unborn children as well. Cigarette smoking is also physically and socially harming.
To conclude, robots could be the backbone of the society that will result in a technological revolution. Because of robots various characteristics that do not experience fear, nor exhaustion and they are precisely programmed, which make them able to help in case of need, housework, and factories production. Society needs to put the issue of robots into consideration to satisfy any shortage exists in the world.