Econ 417 Assignment 3 Essay Example | Topics and Well Written Essays - 3250 words

Econ 417 Assignment 3 - Essay Example The technological advancements are increasing day by day and the technology is becoming more and more efficient. This not only increases the efficiency of these machines but the costs of installation have also been reduced. The writer gives examples of advancements in internet, agricultural and health sectors. Later it is explained that the growth in technology is actually extremely good for economic growth. The new technology which comes in actually makes the older one obsolete and out of date. As a result, this ends up being a drawback, as new technology ends up replacing old technology. An excellent example of the history of light is mentioned here. From the campfire discovered thousands of years ago passing through candles and bulbs, today’s fluorescent lights are 143,000 times brighter than the campfires (Easterly 175). These dramatic advancements in technology have been visible over centuries and this has increased efficiency manifold. With the presence of technology the people should also have the incentive to use it. Technology without incentive may be useless and this has been seen on multiple occasions in history. The romans had the resources and the technology but they did not progress. Similarly the Chinese were the first to have access to a variety of technologies before the Europeans could even have imagined. However, they lacked an incentive for its usage and as a result the technologies remained stagnant for a long period of time before they were taken over by others. Another feature which is important along with technology is education. It has been witnessed that the productivity of workers in developed economies may be similar but their income levels may be different. A very significant reason behind this is that the different educational levels cause different levels of usage of the technology. The important factor for technological progress and for economic growth is the incentive to use these for the betterment. For the poorer countr ies the absence of technology can be both an advantage and a disadvantage. The disadvantage can be in a sense that the absence of experience of technology can result in a reversal of effect. This is because the workers will be semi-skilled or unskilled as far as the expertise is concerned. This is because they will be inexperienced in the handling of technology. They will not be able to handle the machinery and the return over the technology will be much lower than to the skilled workers of the developed nations. The advantage will be extremely essential for the developing or under-developed countries because the installation of the technology and its implementation will be extremely cost effective. The will directly have to install the technology and it will be much easier instead of upgrading the old technology or replacing it. Chapter 10 Summary This chapter begins with the examples of the incidents in the lives of three women. These women represent the poverty stricken people fr om the poorer nations of Zambia, India and Vietnam. The three families face similar situations where the death of a working person results in the isolation of the family where they are now dependent on others for survival. They are thrown into the poverty trap by the human disasters which cannot be controlled. The poor households find themselves very vulnerable to shocks such as human disasters. Such households do not have any collateral and in situations of shock they are

Analysis The Blind Faith of the One-Eyed Matador Essay

Analysis The Blind Faith of the One-Eyed Matador - Essay Example Juan Jose is a seasoned bullfighter (torero) in Spain who comes from a family with bullfighting brothers and a retired torero in his father. The author introduces the reader to the story showing Juan Jose and the Bull in the bullfighting zone and the event known as the Feria Del Pilar that is a highly anticipated date in the bullfighting calendar. The author describes the bull by revealing its name, Marques- ashy black. This allows the reader to see how the bull is huge and indicates the power and muscle that the bull has over Jose. The author also reveals that the bull is a 5-year-old bull and weighs 1,100 pounds. Russell then goes ahead to describe Juan Jose as a father of two, 38 years of age and one of top matadors in Spain. This sets the atmosphere for the reader because it makes the reader part of the action making him/ her feel present at the event (Russell 1). Russell then describes the action that occurs between Padilla and Marques. The author’s description makes the reader feel as if Marques is a human being just like Juan Jose. For instance, the author states, â€Å"Padilla and Marques are alone in the sandy pit, but a carousel of faces swirls around them. A thousand eyes beat down on Padilla, causing sweat to bead on his neck† (Russell 1). This makes the reader feel as if Juan Jose and Marques are two fighting opponents with similar attributes (Russell 1). The author describes in detail how Marques injures Juan Jose in the bullfighting match. Preceding the injury the author sets the atmosphere to prepare the reader for the worst. For instance, just after the match begins, she says, â€Å"A glancing blow from Marques unsteadies Padilla; his feet get tangled... Padilla has the bad luck, the terrible luck, of landing on his side. And now his luck gets worse† (Russell 1). This prepares the reader for the