Current Events: Long-Hauling

In Las Vegas, Nevada taxi drivers have been 'long-hauling' their customers for years. Long-hauling is the term for driving in a circuitous way to a destination, increasing the taxi fee. In 2012, a total of 14.8 million was "robbed" from tourists as victims of long hauling. This statistic comes from about one four passengers who ride. Undercover officers were long-hauled in every one in three trips. 

I think this is a basic form of robbery on the taxi service's part. I recommend for you boys and girls that: when you are travelling to an area that you do not really know the location of, check the airport; they (along with Las Vegas) now have 'distance charts' so that you know what you SHOULD be charged when riding in a taxi. Take a picture of it with your phone or what have you, and keep with yourself a quick reference guide. As illegal as this is, the taxi service is highly needed and unfortunately the authorities must give lee way to this 'public service', even though they are cracking down.

As for other parts of government, the police (previously mentioned) and traveling branches are affected. The police investigate and deal with these problems as they can, and airports especially are helping tourists get through a trip without getting 'scammed'. 

Tourism is a HUGE income for Las Vegas and there are only bad consequences to come when people stop visiting the strip.

Stay charismatic!

Current Events: The Minimum Wage

The Minimum Wage

Currently, there is a debate for raising the minimum wage to $10.10 an hour. The plan mathematically would lift 900,000 out of poverty, but lead to a loss of 500,000 jobs. When questioned, the result is about 0.3% decrease in employment. The reason for this is how an employer will adapt to higher wage: "That employer may handle those higher costs (wage increase) in any of several ways: cut jobs, reduce worker hours, curb summer hiring, opt not to replace workers who leave; book lower profits; or raise prices on customers" . More jobs threaten to be lost, and the number could double, a high cost for motivation. 

It is hard to form an opinion on a case where it appears to equal in pros and cons, but I've come to the conclusion that this does more harm than good: although a higher minimum wage will raise people from poverty and stimulate business, it does not bode well for the future. Also, in a job, one would work up from the minimum wage to get a better pay, as minimum wage is not necessarily meant to be lived on. Making this so will motivate employees to work, but not to raise their job status.

President Obama signed an executive order making the new wage mandatory by 2015. Both parties continue to argue about this matter, but now time will prove the consequences of this decision.

article & info from cnn.com

Current Events: New Grounds

We all know of Google's success, but to what extent? What have they done with those billions in profits off of advertisements?

Here's one thing: buying an airport. In San Francisco, a Google subsidiary was selected to "renovate a federal airfield" which will be used for "personal flights of the Internet company's billionaire executives". Google agreed to renovate the 3 hangars and even upgrade a local golf course.

Now Google is a company, so obviously they are allowed to earn money --it isn't a crime. But I have a bone to pick with a company on three conditions: 1) they interfere with the government, 2)they eliminate competition, and 3) Moral issues. Competition and Moral issues (another story) shall be excluded for now, but let's chat government. 

Adam Smith included a fact in his philosophy of capitalism that the government would be limited in its involvement of the market. It shall regulate but not control. The Google corporation is a private company out to earn a profit and it seems to me that it should stay away from a law making office. The U.S. government appears to trust Google, but no bond should be formed. 

Reasons for this are what  they could benefit from such a venture. It appears to have private uses, but could it also be used for mailing like their Google mail (different article). From an economic standpoint, they have outbid other businesses (which also wanted the airfield) and are using profits to make a constantly expanding array of things. The major fact is that they can do what they want with those. The U.S. is starting to use them like a crutch though , and I am pessimistic as to where that will lead.

Current Events: QUANTUM COMPUTING

Scientists are developing quantum computers that will be selling for roughly 10 million a piece. What discerns these from regular computers is their ability to break the "regular" physics. For example, instead of a computer's code being composed of either one or zero, quantum computers can use both at the same time. The computers themselves will be able to process and model what was before unimaginable. Personally, I am awed by advancement this includes, because of the benefits to science it creates. It proposes a new age in technology, and will be a permanent change to the world. A quantum computer can affect economics in an important way. It will "Win elections: Campaigners will comb through reams of marketing information to best exploit individual voter preferences, Boost GDP: Hyper-personalized advertising, based on quantum computation, will stimulate consumer spending." 

These are only two things that a quantum computer can do, meaning that it can do many other things, from finding Earth-like planted to making more effective drugs to cure diseases

Read the article at: 

http://business.time.com/2014/02/06/9-ways-quantum-computing-will-change-everything/?iid=biz-main-lead