Monthly Archives: November 2013

Unemployment Psychology

University of Edinburgh researchers found benefit levels had “no effect” on the well-being of those without a job. Researchers found some countries with the most generous benefits also had some of the most despondent unemployed citizens, and vice versa. The report suggested that cultural and demographic factors had a greater effect on life-satisfaction levels of the unemployed. Being jobless in a country with a proportionally older population and fewer people of working age had a greater negative impact on personal well-being than benefit levels. So too did high levels of inflation and income inequality, it suggested. Unemployment does not just result in a loss of income, but also a change in social position – that is perceived differently in different societies.

The article enlightens the psychological effects that unemployment has on an individual and how they are affected by this experience depending on their culture and demography. this simply means that its possible to be ‘OK’  with one’s unemployment condition because of where and in what manner they were raised (culturally speaking).

The Value of Labor

Qatar’s construction sector is rife with abuse, Amnesty International (AI) says migrant workers are often subjected to non-payment of wages, dangerous working conditions and squalid accommodation. The rights group said one manager had referred to workers as “animals”. The workers said they were “treated like cattle”, working up to 12 hours a day, seven days a week, including during Qatar’s hot summer months.”Fifa has a duty to send a strong public message that it will not tolerate human rights abuses on construction projects related to the World Cup.” Qatar must protect the rights of the workers who are to deliver the 2022 World Cup, it said.

The article talks about the mistreatment that workers in Qatar face. This behavior largely involves so many migrant workers that are being ruthlessly exploited, deprived of their pay and left struggling to survive. Some demand that FIFA should make a statement, but is it really the responsibility of the strong branded firm to ensure that workers are treated well, or should the government regulations be sufficient?

It’s solved! Or is it?

Thousands of items accumulated over the past 25 years were dumped into a steel crusher at the National Wildlife Property Repository north of Denver, USA. The items were seized from smugglers, traders and tourists at US ports of entry since the 1989 international embargo on the ivory trade took effect. Mr Ashe said keeping the stockpile could feed consumer demand for illegal souvenirs and trinkets. Officials said the collection represented the killing of more than 2,000 adult elephants. He said profits from wildlife trafficking were being pumped into other illicit activities such as narcotics, arms, and human trafficking.

The article discusses the actions of the US government in relation to matters of ivory trade. All the rare, valuable and expensive items were crushed in order to reduce the demand for the market of such items. Is the objective behind these actions justifiable? Is this the best solution?

The Right Place at the The Right Time

Video blogging or ‘vlogging‘ requires a camera, an internet connection and a topic of discussion. For the UK’s top vloggers it has become a career where they can earn thousands of pounds for mentioning a product to their millions of fans. Many started out as students, were unemployed or, in one case, earned £25,000 a year in an office job. Lily Pebble, 25, spends her days tweeting, recording vlogs, writing blogs, researching beauty products, chatting with followers and negotiating contracts. Key to a vlogger’s success is the trust they build with their audience. That relationship makes them valuable to advertisers. It comes as the Advertising Standards Authority (ASA) have released a warning telling vloggers they must make it clear when they are being paid to promote something.

Blogging and Vlogging are new experiences for me personally and I find it to be a form of expression of thought/idea. however, its not as simple as that because apparently its a form of business as well and I personally found it really interesting and would just like to share this with the rest of us out there.

Increase in Oil Production

Reading the article made me question whether the increase in production of crude oil in the US is a positive or negative act for the environment.

In places like North Dakota and Texas, the oil boom has been due mostly to fracking, a new technique used to get oil from shale deposits in locations like North Dakota and Texas.  Since US domestic crude oil production has exceeded oil imports for the first time since 1995, this has allowed them to reduce the quantity they import and thus would make the dollar currency stronger. However, the technology has come under fire by critics concerned about the environmental impacts of the procedure. Which begs the justification of increasing crude oil production whilst destroying the environment.

Which side promotes your economy?

China has lent Zimbabwe $319m to ease electricity shortages by expanding its Kariba hydropower station. The deal highlights the “Look East” policy Zimbabwe adopted after falling out with Western powers. “For us the energy deficit has hamstrung the growth of our economy,” Mr Chinamasa said. The two countries strengthened ties after the European Union (EU) and US imposed sanctions on President Robert Mugabe and his inner-circle after Zimbabwe’s 2002 elections. The Western powers said the sanctions were in response to human rights abuses and political violence under Mr Mugabe’s rule.

The article discuses a nation’s change in policy and alliance with the Chinese after previous relations with the West failed to work. The shift in liaison has led to improvement in Zimbabwe’s infrastructure (hydro-electric dam) which will further and in the long term aid their economy. Is it wise for the East to invest in a country that has violated UN rules? What is your view on this case?

Technology and the Invasion of Privacy

Tesco is installing face-scanning technology at its petrol stations to target advertisements to individual customers at the till. The technology will use a camera to identify a customer’s gender and approximate age and present an advertisement accordingly. Privacy campaigners said companies had to tell their customers they were using the technology. This technology is similar to the way social media sites tailor adverts to users based on the content of their profiles.

The article made me think about the liberty of an individual as a consumer. how much freedom does a consumer really have considering technology such as this is influencing our decisions on what products/services one consumes. Should consumers agree to this form of technology? Does a consumer benefit from this technology?

What comes with an arbitrator!

An independent US arbitrator has told Starbucks to pay $2.76bn in damages and other costs to Kraft Foods in a dispute over packaged coffee. The deal was due to run until March 2014 but the US coffee chain ended the contract in 2010, accusing Kraft of breaking the terms of their deal. “We’re pleased that the arbitrator validated our position said Mondelez whereas Starbucks said it “strongly disagreed” with the conclusions of the arbitrator.

The article discuses issues between Kraft foods and Starbucks and how the involvement of an arbitrator led to conflict of interest between the two parties. So what I’m trying to understand is whether or not the involvement of an arbitrator results in reducing or increasing the initial problem?

Politics effect on Economics

A court in Ivory Coast has sentenced 15 former top officials to 20 years each in prison for embezzling hundreds of thousands of dollars from the cocoa and coffee industry. The 15, popularly known as “cocoa barons”, were also ordered to pay fines worth $138m. They were convicted of embezzling tax revenues during the rule of former President Laurent Gbagbo. Ivory Coast is the world’s largest producer of cocoa.

The article talks about the acts of a part of a government that was involved in embezzling from the cocoa industry and the impact that the conviction of these individuals had on their nation. The embezzlement lead to the group, which accounts for 40% of global supplies of the natural raw ingredient used in chocolate, in being captured and since production is at a ‘halt’, it negatively affects the economy. How can situation such as this be tackled?