Privatization of Prisons

Arkansas is once again toying with the idea of private prisons. Arguments for this include the amount of money the state would save if there were some prisons run by private companies. It would also help the constant overcrowding of state prisons. If other companies were allowed to have their own prisons, the state penitentiaries would be under less stress to humanely house their occupants. A past failed attempt causes caution. In 1990, the state let the Wackenhut Correction Corp. take over two prisons. After only 3 years, they were taken over by the state because of allegations of poor conditions.

Privatization is the transfer of control of a company from government to private ownership. It has raised more than $600 million worldwide for governments from 1992-2002. It is economically very efficient for governments because money doesn't have to be spent on maintaining such Crown corporations and politically difficult decisions could be made more easily. However, profit is generally the motive of privatization and most Crown corporations protect the interests of society. Maintenance is a high priority because the voting citizens can pressure the government to provide effective and efficient services. This would not be so for private companies who could do as they wish to make a profit.

I think that such unmet public goods or services such as prisons and the postal system, it is better to have the power in the governments hands. Political parties are governed by the people that they represent and therefore must act on the people's wishes. I think it would be a very bad idea if private organizations got a hold of such powers because they don't have to obey or follow the morals of society. Their main concern would be making a profit and I believe that the services provided wouldn't be up to the standard of government run corporations. Although criminals have done bad things, giving them a reasonably humane place to serve their sentence should be mandatory, and therefore, prisons should not be privatized.

http://www.canada.com/windsorstar/news/letters/story.html?id=35af9fea-e91e-44cc-bd9c-435bcb44291a

Price Elasticity Smacks Sony, Blu-Ray, Playstation

Large, brand name companies could often ignore price elasticity because consumers were more willing to pay extra, for certain goods. The average citizen now knows that eventually, prices will go down and except for the early adopters, they will wait for cheaper times. Sony has dropped the price of their 60GB Playstation 3 after Microsoft dropped the price of their XBox 360 model. Electronic companies have realized that although there may not be any real competition (i.e. the iPhone) they were pushing their consumers away with their high prices.

Interaction between buyers and sellers is what helps to determine price elasticity. Consumer reactions to changes in the price of a product, result in an impact towards the quantity of the product that is demanded or supplied. For example, Blu-Ray products have gone down drastically due to the amount of downloaded movies. Substitutes are a major factor in supply and demand. Demand and supply elasticity will help companies estimate the demand of a product if they're price isn't constant.

The internet gives consumers a huge advantage in finding the best product at the best price. I thought this article was extremely helpful because living in a materialistic society requires such knowledge and insight. This article reminded me that although certain products seem like a must have, their prices will eventually be forced down because the demand for electronics quickly falls due to the constant upgrades.

http://industry.bnet.com/technology/1000425/price-elasticity-smacks-sony-blu-ray-playstation/

How to Make Your Home Energy Efficient

This article suggests different ways that people could save money by upgrading their homes by making it more energy efficient. Examples include adding insulation to attics or buying energy efficient appliances. Big energy consumers are from heating and cooling your home, cooking and lighting, and your refrigerator. Although making alterations to your home would cost money, the amount of money saved is significant. The author mentions the luxuries that he can live with, and use only a fraction of the energy that most households use. This energy reduction also results from frugality; taking shorter showers, turning off lights, etc.
This illustrates opportunity costs well. Insulating is a great energy saving strategy. The process costs a few hundred dollars but in the long run, it is well worth it. The average utility bill is about $200 – 300 per month. Alterations could save you 30%, but that means that you saved $60 that month. In one year alone, you could save $720. These alterations also don’t need much maintenance so after 5 years, the money that you have saved due to the energy conservation becomes $3600. Taking time to figure out the opportunity costs will save you a lot of money in this situation.
I think that making your home energy efficient is a great idea. You not only save money but you’re contributing towards the need to save our planet. Time is scarce and this article may help many people find the motivation they need to start doing something about global warming. I like this article because in a quick glance, you can obtain a handful of ideas that will help you easily play a role in helping the environment get better. So why not take a look? You get to save the environment and build up a savings account at the same time.

l.nguyen
http://www.motherearthnews.com/Green-Homes/2008-10-01/How-To-Lower-Utility-Bills.aspx

hehehe

you're having too much fun doing this i'm afraid. "omg i can edit the template!" -melissa man
so we just got our textbook and mine is nicer than carbo's but hers is pretty nice too