Discussion responses
1) Pratik Patel
One of the biggest news in the airline carrier industry was Airbus landing one of the biggest contracts from Qatar Airways. This was a big win for Airbus when they got this contract because Boeing was one of the biggest airplane suppliers of the world. Recently, few months back Qatar Airways have walked away from the contract because Airbus couldn't fulfill the order. Airbus has been delayed on so many aircraft to Qatar airways that the company cannot function without having proper amount of aircraft. According to the article, "Qatar Airways had ordered 50 A320neo family planes, making it the launch customer of the model. The airline was due to receive the first plane last year, which it will not now take" (Wall 2016). This failure in providing the aircraft is going to hurt future of Qatar Airway since they are trying to grow their business around the world. This article is really important because right now US carrier is charging more the double prices to travel around the world. For example, delta charges about $1,500 to travel to London, but Qatar airways is charging about $650 to travel to London. We have to creative a competitive market in order to help the consumers. This news is important because we have to hold companies like delta and US airways accountable for price gauging and making money off consumer. This will help our economy grow and bring more business and tourist to America in order help the economy. This article caught my attention because I was traveling out of the country and I will shop for the best around. I came across Qatar airways and Delta Airline prices were almost double for Delta airlines. I looked into Qatar Airways, customer have been satisfied and loves flying with Qatar. They offer great customer service and great pricing on their flights out of the country.
2) Shawn Childers
Deepening Financial Ties between U.S. and China:
China recently provided the U.S. with an investment quota to allow trading in Chinese markets. This is significant because it is further proof that China is attempting to push the Yuan to be a more globally-used currency. With this move, China has also pledged to stop purposefully weakening the Yuan in an attempt to boost their GDP through exports by gaining an unfair comparative advantage in certain markets. This is big news as many politicians use this as a platform on how the U.S. is losing jobs to China's monetary policy.
This subject catches my attention because the more I read into the second and third world effects behind the moves being made by the U.S. and China, the more I realize that by gaining a comparative advantage in certain industries (steel, production), the U.S. eventually diverts their losses (jobs) into more productive industries that we have the comparative advantage (tech, etc). That is why we don't drill most of our own oil. That and as China grows its GDP through exports, their reserves are filling with USD, which is essentially tying a lot of their well-being to our economy. This is why China wants to improve relations and make the Yuan a more global currency seems like a right move on their part.
I also like being read up on certain political and economic issues so when I do catch debates or election news, I can read through some of the comments in an attempt to separate actual legislation and action that we should focus on from the political stances solely for votes.
1) Donelle DeCouto
A free rider is an individual who opts not to contribute voluntary contributions that are necessary to provide a pure public good. Individuals receive benefits for public goods and when those public goods are funded solely through voluntary contributions, the possibility of free-riders increase as the number of individuals receiving benefits increases (Hyman, 2014).
The Metropolitan Museum of Art in New York City is a public good whose existence is funded through private contributions and donations. While the museum does suggest those visiting to pay a fee, the amount is suggested and is not compulsory. Considering there were over 6.3 million visitors to the Met museums in 2014 (Kinsella, 2015), there is a high propensity for free-riding of this public good. In order to mitigate the issue of free-riding, the museum could opt to implement a mandatory entrance fee less than the current suggested price of $25.00. This would ensure the removal of free-riders and also keep the fees at a cost that is still attractive to visitors.
2) Ranae Williams
My husband and I have a fishing boat and travel to several lakes a cross the state of Colorado. All of the parks require a park pass wither state or federal. Because we live closest to Blue Mesa Resevoir we visit the lake at least a fee times per week. The park has an established box to place an envelope with cash only into the box. There are several reasons why this allows a free rider situation. The passes are not monitored or checked by a park service employee upon entry. This allows people to enter, put their boat on the lake and leave without paying if they choose to. The park fees gathered are important for all of us because those funds are used to maintain the parks for our public use. The lake currently does require a mussel inspection upon entry into the park and again when your boat comes off of the water. The employees providing the inspections are not held responsible for checking for the park pass. A suggestion would be for the fees to be gathered at the time of the inspection. This would be a way to remove free riders from being able to enter the public park at no cost. Another suggestion in today's age of technology, would be for the park to accept cash, check and credit. I personally do not carry cash typically unless I am attending the park and in case I ever forget it would be helpful to be able to pay in another form.