RS4: Reaction to Fear Thy Nature Podcast

RS4: Reaction to Fear Thy Nature Podcast

            After listening to this podcast, I have come to the conclusion that the information in this podcast slightly resembles the guidepost to economic thinking that says individuals make decisions at the margin.  Making a decision at the margin means considering the cost between two alternatives and making a decision based on the benefits of one alternative over the other.  Although this podcast speaks nothing of a decision regarding money, it talks about the people’s decisions on how to act when put in certain situations.

            This podcast begins by introducing Philip Zimbardo, a professor of psychology at Stanford University.  Back in 1971 he performed an experiment known as the Stanford Prison Experiment in which he had a group of 24 male undergraduate students act as prisoners and guards.  The experiment was supposed to last a whole two weeks but only lasted a short six days.  The reason behind this was because the guards began to abuse their “power” on the prisoners.  Approximately one third of the guards began to abuse the prisoners by chaining them down, putting bags over their heads, and forcing them to do things that they did not have to do.  Even Zimbardo himself began to take on the Prison Superintendent role and became very stiff and upright in his stature, thinking he was above everyone else in the “prison”.  Although this was just taking place in the university, the sense of power and the idea of a higher ranked position rushed to the guards heads thinking that they were superior over the prisoners, when in fact they were all the same: just typical male undergraduate students.  The decision to be superior over the other men came from the two alternatives: be a nice guard, or be an extremely overbearing powerful guard.  Considering the situation and the environment, the “guards” thought it would be better to me more powerful, rather than being nicer.

            Another situation that the podcast brought up was a play in New York City that was unlike any other.  The play was called, “Sleep No More”, and it was one where the audience was able to fully interact with the actors.  There was no definite stage, the stage was an old, abandoned, six floored factory in which audience members had to walk throughout the building to see what was going on.  Audience members were instructed to be completely silent, to turn off their phones, and to wear a mask on their faces at all times.  While on the “stage”, audience members were allowed to touch the props, characters, or anything else that they felt that they needed to touch.  While this seems like a very interesting experience, it led to a lot of mischief on stage.  Audience members said that they felt the need to be loud and talk, steal props, and even have sex on the stage.  These spectators had to decide whether they wanted to act morally and properly, or if they wanted to disobey the rules and do anything they wanted too.  The decision had to be made because of the environment that they were thrown into.  An environment where every ones identity was masked and there was no one to supervise what was going on.  The people made their marginal decision valuing the freedom to do whatever they pleased more than they valued doing the morally correct thing.

            The eight guideposts to economic thinking do not just pertain to economic situations.  This podcast is one of those instances where the guideposts can pertain to things that go on in our everyday lives.  The guidepost that states individuals make decisions at the margin relates well to this podcast because it shows that people choose to act the morally or immorally based on the environment they are thrown in or the power that they are given.  Whichever alternative they value more leads to their decision and the way that they choose to act.  Therefore the eight guideposts to economic thinking are not just for economics, but also for psychological experiments and theatre as well. 

RS3- Marijuana and Economics

RS3: Reaction to Maastricht, Marijuana, and the European Dream

            This podcast was quite an interesting one to say the least.  Every time they called these marijuana selling stores “coffee shops”, I could not help but think of FRIENDS and what it would be like if Ross, Rachel, Monica, Chandler, Phoebe, and Joey were sitting in Central Perk getting high instead of drinking coffee.

            Maastricht, a city in the Netherlands, had shops that they called coffee shops, which sold legalized marijuana.  The mayor of Maastricht created a law, The Maastricht Treaty, which eventually led to the euro.  Being on the border, Maastricht was easily accessible to other Europeans who just wanted to get stoned as well.  Stoners from Belgium were frequently coming into Maastricht to enjoy the perks of the marijuana selling coffee shops.  At first this started off great, it was a boost in the economy and a boost in the percentage of tourists.  However every action has a secondary effect, something that the mayor of Maastricht would have learned if he was in our Microeconomics class. 

            Of the eight guideposts, this podcast definitely resembles the guidepost that says that economic actions have secondary effects along with their immediate effects.  In the beginning the mayor of Maastricht thought that it was a good idea to pursue the “European Dream” and unify all of Europe with the euro.  Because his city offered something that no other country did, his city became a massive tourist attraction.  Although that is a plus because it brings money, it is also a negative.  In this case the secondary effect was that the increase in tourists was leading to littering, illegal parking, and even more marijuana smokers.  When his intention was to draw people to the beautiful attractions of the city, he got the opposite.

            Another instance that secondary effects plays a role in this podcast is when the mayor creates the new law that says that tourists may enter Maastricht but may not purchase marijuana from the coffee shops.  At first this seems to solve the problem because littering and illegal parking decreases.  However, the coffee shops really begin to suffer because 93 percent of their customers were tourists.  This then forces many coffee shops to close, which affects the Maastricht economy because the government is no longer collecting taxes from the coffee shops.  In addition, it also increases the number of drug dealers on the street, which can also increase the amount of crime.  By the mayor making this law to ban tourists from purchasing marijuana from the coffee shops, he was just creating more problems for the city.

            No matter what, every action has a secondary effect.  This podcast was the perfect example to explain the economic guidepost that says every economic action has a secondary effect along with its initial effect.  No matter what decision the mayor made, each one came with positive and negative effects. 

RS2: Guidepost Meme-Retail Therapy

http://imgflip.com/i/342h

This woman has clearly learned that Retail Therapy has its own secondary effects.  First it starts off thrilling and exciting, but then it leads to automatic depression when you realize how much money you spent on pointless things.

RS1: How to be a Genius

Juliann Sweeney

Professor Engel

EC-202-E

September 1, 2012

RS1-"How to be a Genius" by David Dobbs-Reaction

            In his article, "How to be a Genius", David Dobbs writes about what he feels takes a person from being considered ordinary to a genius.  He argues in his article that it is not just genetics that make a person extremely talented or gifted, but rather it is hard work, determination, and drive that make them a true genius. After reading his article, I agree with Dobbs in that the emphasis on hard work and determination is really what makes a genius, a genius.

            Dobbs in this article starts off with a quote from Thomas Edison saying, "Genius is 99 percent perspiration."  Dobbs then adds that it is really, "One percent inspiration, 29 percent good instruction and encouragement, and 70 percent perspiration."  I could not agree more with these men.  An example in my life is the comparable talent that my sister and I have when it comes to playing softball.  I have been playing since I was 5, but I started off not as interested in the sport.  My little sister on the other hand started off extremely interested in the sport.  I work hard at practices and I am dedicated when I am playing but I do not practice as much as my sister does.  At the age of thirteen she practices four or five times a week and is pitching a 58 mph fastball, something that is rare coming from a thirteen year old.  It was not genetics that slipped and gave my sister more of the softball genes than I got; it is her hard work and passion for the game that makes her more talented and gifted than I ever was at her age.  Had I put in the time and effort that she does I could have been as talented as she is now, but I chose not to.

            Dobbs said in his article, "The elite are elite partly because they have some genetic gifts- for learning and hand eye coordination for instance- but the very best rise because they take great pains to maximize that gift."  At just thirteen, my sister dreams of going to college and playing softball for a division one team.  She works her hardest at every practice, hitting lesson, and pitching lesson to attain that goal; sacrificing some other things that she may want to be doing as well.  Dobbs also says that having someone to mentor you and motivate you is very important as well if you want to be a genius.  I like to think of myself as one of my sister's mentors.  Being six years younger than me, she would always come to my softball games and see me play, and I like to think that watching me encouraged her to play as well.  I know for a fact that when my sister needs help with something she will turn to me or my dad for help and that if we weren't there to guide her along her softball "career", she would not be the same athlete she is today. 

            Dobbs stresses in his article that it is not genetics that makes a genius but it is rather hard work, determination, and help that make a genius.  My sister may not be the next Jenny Finch, or a softball legend, but it is the hard work and love for the sport that makes her as good as she is. More so than just her talent and physical attributes for the sport.  After reading this article it is very clear to me as to why this was our first assignment for the class. The lesson was to teach ourselves that A's aren't just going to be handed out in this class. We are going to have to push ourselves and work for them to the best of our abilities in order to obtain the grade that we desire.  I know that I just want A's, and I know that I am going to have to push myself and work for it, but I can get help and that I am not alone on this journey of Economics. Dobbs said, "Geniuses are made, not born".  I know that I am not going to be the next master of Economics by the end of the semester, but I do plan on working my hardest and getting the most out of this class as possible.