Economic Exchange of a student from 8/6-8/2013 My three-day economic exchange journal has invoked self-reflection as to what I define as my personal economic activity and how I go about classifying specific expenses. Aside from the typical cash/credit exchanges, a major nonmonetary payment for me involves the investment of time. Though free-time is considered by Marshall Sahlins (The Original Affluent Society) to be a form of wealth, the reality for most Americans (myself included) is that "time is money". The more time I allot towards non-income producing activities, the less potential I have to earn money. However, I do see a potential for "return" on certain time "investments" which I have also taken into account. Two examples of this would be towards my health and education. I categorize working-out as a short-term loss of time spent earning income and the price of a gym membership, yet a long-term yield in maintaining physical and mental health. The cost of healthcare and insurance is expensive and by maintaining my fitness, I am hoping to avoid obesity related healthcare costs in my future. This preventative effort includes (but is not limited to) diabetes, cardiovascular disease, hormonal imbalances, cognitive decline, and cancers. Additionally, having a healthy physical profile helps to keep my cost of insurance premiums at the low end of the spectrum. I also consider education to be a short-term expense of both time and money, but again an investment towards future yield in the career-path I am pursuing which is medicine. I consider extra study time also an investment towards gaining the grades and knowledge needed towards my future career. Essentially I am internally redistributing my time to provide across different types of wealth: monetary, intellectual, and health. Aside from my "investments" I do need to supplement my day-to-day expenses of wants and needs with my job in a research lab. Because my research is related to my career goals, I also consider it an investment towards experience within the medical field. Typically I fulfill my wants and needs through market exchange. Satisfying my wants and needs seem to be interrelated, my wants can develop from needs and vice versa. I have a health need in correcting my eyesight but also a want for an extra set of eyeglasses. My want for a pet produced needs for my pet, which is why I bought my dog the heartworm medication. I'm not sure whether to classify my mouse-trap purchase as a need or a want. I'm leaning towards considering it a need though because even though I may want to get rid of the pests, they are a disease carrying health-risk to my living conditions. Unfortunately a major need, subsistence was not well represented in my three-day journal besides my Qdoba lunch because I had already shopped for and prepared my meals earlier. Of the three forms of exchange discussed in class, I feel that I am participating in reciprocity the least. The only time I participated in that was when I helped a friend who locked his keys in his car. I picked him up, drove him to his apartment to get a spare and drove him back to his car. Perhaps one day I can depend on him to return the favor if I am ever in a "jam." This makes me realize that friendship is a major source of reciprocity exchange. Therefore having friends does provide a form of social wealth that can be measured through reciprocity ranging from favors to emotional support. If I could improve on my distribution of economic exchange, I'd like to include more time for leisure (because I do agree with Sahlins' argument of affluence) and also social wealth in the form of friendship or kinship.
Date Time Transaction Location Type of Payment(s) Cost…
advancements to push them past subsistence agriculture. They used hand made tools and did not have a government system in place to seek opportunity off of the continent. Land and agriculture was also still viewed as a means for survival, not as a tool for economic prosperity. The lack of population density allowed for less importance on land ownership. Europeans believed that when they found the land that they would own it and everything on it. The American's believed that no one owned the land and that…
Sciences (IBSS), PILOTS: Published International Literature On Traumatic Stress|0|
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Financial disclosure and accounting harmonization: Cases of three listed companies in China
作者: Lin, Z Jun; Wang, Liyan.
出版物信息: Managerial Auditing Journal 16. ?5 (2001): 263-273.
: This paper presents a comparative study of the financial reporting practices of three Chinese companies (Tsingtao Brewery Co., Shanghai Petrochemical Co. Ltd., Yizheng Chemical Fibre Ltd.) listed simultaneously in…
Economist’s Jargon: Unite and Divide
By Con Scientious
The economics profession’s jargon serves a variety of purposes. For example, their common terminology serves to make for more precise communication. It allows ideas to be communicated clearly and exactly. This exactness and clarity of terminology serves society by allowing economists to discuss economics with each other and with society with clarity so that other economists have a better understanding of what an economist is saying.
trend among stock exchanges all over the world. It is the process of converting an organization from a mutual entity to a shareholder owned corporate body. Traditionally, stock exchanges operated as club-like mutual organizations where traders/ brokers were the owners of the exchange as well as recipients of its services. Many stock exchanges operated on a not- for-profit basis; excess income was not distributed among the members as profit. The members were the owners of the exchange and also its customers…
the government has a safety net for them whenever they need it.
In the recent Wall Street Journal article, “Citi is Bracing to Miss a Profit Goal,” it explains how the Federal Reserve rejected Citigroup Inc.’s capital plan last month. The proposal was to boost the bank’s dividend and ramp up stock buybacks, saying it had failed to measure potential risks to its operations during a severe economic recession. The rejection would cause Citigroup to fail to hit its 2015 goal for return on tangible…
THE SIGNIFICANCE OF THE EXCHANGE INDUSTRY
J U LY 2002
WORLD FEDERATION OF EXCHANGES
At the Heart of the World Economy
Over the past decade, regulated securities exchanges have come to play a major new role in the international financial system. That role is qualitatively different from anything seen since World War II. Quantitatively, the markets operated by regulated exchanges have grown to a scale unimagined before, giving them an active role and responsibility at the heart of the world…
Course: BUS 101
Foreign Currency Exchange Rates
In simplest terms, exchange rate can be defined as the quotation of national currency or the standing of the country’s currency against the foreign ones. Foreign exchange rates can also be explained as the amount of one currency that must be given for the acquisition of one unit of another competing currency. Therefore, it would not be incorrect to say that an exchange rate in fact serves as a conversion factor…
International Business & Economics Research Journal – January 2007
Volume 6, Number 1
Globalization: Its Effects
Ali M. Alli, (Email: email@example.com), Oklahoma City University Gregory S. Winter, Oklahoma City University David L. May, Oklahoma City University
ABSTRACT A global culture is now increasingly emerging. The process of globalization is facilitated by technology. This technology comes from but one place – education. The primary way to accept (or fight it) globalization is through…
The present essay will assess positive and negative effects of the ruling. It will try to answer the question: what impact will the health insurance exchange, a strategic element of our president’s initiative, will have on hospitals and health care administration?
According to Obama health insurance exchange will be "... a market where Americans can one-stop shop for a health care plan, compare benefits and prices, and choose the plan that's best for them, in the same way that…