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Reply to another student in 100 w.c about there discussion post. STUDENT DISCUSSION I would love to be able to build a port station for all the...
Reply to another student in 100 w.c about there discussion post.
I would love to be able to build a port station for all the different cell phones and electronic devices. I came up with that idea as I was sitting in the waiting room of the dealership getting my car serviced. "Though the problem with which I want primarily to deal in this paper is the problem of a rational economic organization, I shall in its course be led again and again to point to its close connections with certain methodological questions" (Hayek, 1945). I see now that my idea was not as original as I thought because it has been adopted in airports and some lounges. "A change in supply or demand in one market can influence markets for entirely different products thousands of miles away" (Cowen, 117). Once I noticed that I could sit and charge my phone or tablet I could continue to do the work I needed to get accomplished while I waited, I wanted to frequent that establishment more. The process would seem simple but as it was explained in the clip "I, Pencil" it takes parts from all over the world to make a vision come to pass. We have been directed in scripture to wait for God to open up opportunities. "Unless the Lord builds the house, They labor in vain who build it; Unless the Lord guards the city, The watchman stays awake in vain." (Psalm 127:1, NKJV). Another way to look at it is that if we are not careful in how much labor and materials goes into our project, we can have a shortage of goods to use. "In addition to solving the information problem, the price system also solves the incentive problem. It's in a consumer's interest to pay attention to prices!" (Cowen 120). While we put a price on what we sell we also price check on the materials we need.
Cowen, Tyler. Modern Principles of Economics, 3rd Edition. Worth Publishers, 01/2015. VitalBook file.
Hayek, Friedrich A. "The Use of Knowledge in Society." 1945 . Library of Economics and Liberty. Retrieved September 7, 2017 from the World Wide Web: http://www.econlib.org/library/Essays/hykKnw1.htmlIn my opinion the author of the post is rational in that the decision to build a port station fordifferent cell phones and electronic devices is logical and rational though the idea has been...