Double Entry Journal #7

1. Choose one of the unprecedented stresses on the earth resources and describe how it will negatively effect the quality of life of people living in developing countries and people living in modernized countries. The population will grow massively in which it will make  us use a lot more energy, two or three times more and that could cause serious problems.

2. What is the major debate around the future of market-based economies? The only real debate is about how to balance the basic market oriented approach with this or that regulatory feature or social safety policy.

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? Knowledge and Creativity

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? My cell phone because they are just getting more advanced year after year. They started out just to make phone calls and then texting and now playing games, having an app store, surfing the web, take care of your bank accounts, GPS and much much more. The better the phone the more it costs which hurts the economy.

Quote
"There will be some sixty cities with more than 5 million inhabitants."

Response
This quote has me thinking about all these people living in one city. There are obviously not enough jobs for all these people and there probably isn't enough food for these people and this is technically one city with this problem and some sixty others as well. Everything goes up in costs if there is more people even though they can't afford, if it is from cost of living to making car payments it is just to crowded for all the people which would hurt the majority of the people living in these cities.

Picture
This picture is of an overcrowded subway which if the population keeps growing the subways will just become even more crowded and it might just be a waste of time to wait in line just to be in an overcrowded cart.

Sources
- http://www.urlesque.com/2011/04/06/crowded-subways-video/