pull! push! Adventures in Internet land :-)
Monday, October 13, 2008
Caption this
(Photo from CNN.com)
Captioned:
"I'm gonna so get me one of those spa treatments like those AIG guys!"
Markets bounce on trillion-dollar bailout (CNN.com)
(Photo from CNN.com)
Captioned:
"I'm gonna so get me one of those spa treatments like those AIG guys!"
Markets bounce on trillion-dollar bailout (CNN.com)
Labels: AIG, caption, economy, finance, funny, humour, World
Sunday, October 12, 2008
Caption this
(Photo from CNN.com)
Captioned:
"Talk to the hand, Sarkozy, talk to the hand!"
Euro-zone leaders to meet over financial crisis (CNN.com)
(Photo from CNN.com)
Captioned:
"Talk to the hand, Sarkozy, talk to the hand!"
Euro-zone leaders to meet over financial crisis (CNN.com)
Labels: caption, EU, France, funny, Germany, life, politics, World
Friday, October 10, 2008
Caption this
(Photo from CNN.com front page)
Captioned:
"Oh crap. I forgot to unplug the iron!"
Dow bounces after plunging hundreds of points (CNN.com)
(Photo from CNN.com front page)
Captioned:
"Oh crap. I forgot to unplug the iron!"
Dow bounces after plunging hundreds of points (CNN.com)
Labels: caption, economy, finance, funny, humour, life, U.S, World
Wednesday, October 8, 2008
The similarity between potty training Plucky Duck and the economy
(Photo from CNN.com front page)
This photo was on CNN's front page today (at around 1:18 PM my time). It's not the first time that I've noticed these kind of shots. Desperate, worried, panicked, freaked-out, sky-is-falling, end-o-the-world, scared looking, trader-types and Wall Street operators. The above photo of this guy is no different, in fact, it's a classic.
Therefore, in tribute to young Plucky Duck and his potty training efforts (and in search of a laugh or two amidst all this doom and gloom), here are some less than suitable captions for the above photo that I doubt CNN would ever consider using:
1. Money go down the hole!
2. Stock market go down the hole!
3. Economy go down the hole!
4. Suggest a caption (in the spirit of young Plucky), leave a comment!
(Photo from CNN.com front page)
This photo was on CNN's front page today (at around 1:18 PM my time). It's not the first time that I've noticed these kind of shots. Desperate, worried, panicked, freaked-out, sky-is-falling, end-o-the-world, scared looking, trader-types and Wall Street operators. The above photo of this guy is no different, in fact, it's a classic.
Therefore, in tribute to young Plucky Duck and his potty training efforts (and in search of a laugh or two amidst all this doom and gloom), here are some less than suitable captions for the above photo that I doubt CNN would ever consider using:
1. Money go down the hole!
2. Stock market go down the hole!
3. Economy go down the hole!
4. Suggest a caption (in the spirit of young Plucky), leave a comment!
Friday, September 19, 2008
Tuesday, September 16, 2008
Thoughts on why the taste of your next Mudslide may be sliding
DISCLAIMER: IANAE, IANAB (I Am Not An Economist, I Am Not A Bartender)
(Mudslide picture from A cat in the kitchen blog)
Recently, after a weekend out in 'The Gap,' a friend of mine mentioned that the taste of his Mudslide wasn't what it used to be. For the record, I'm a beer (Heineken) and soft drink (Coca-Cola) man myself. Another friend joked that I might try to correlate high gas prices and the change in taste of said Mudslide.
I did, here's my theory:
High gas prices result in high prices in general (this we already know, e.g. increased costs of living). High costs of living force people to cut back on the 'non-essentials.' A cut back in the 'non-essentials' is as a result of people having less discretionary income (which is money left over after the essentials like food, clothing and shelter have been taken care of, as per this Wikipedia article).
Less discretionary income may mean that businesses including: nightclubs, bars and hypothetically, academically and purely for the sake of this arguement, Club ABC123 (not the real name of the establishment where the Mudslide was served), may face a slowdown in business.
A slowdown in business may result in Management of Club ABC123 seeking to cut costs and to reduce expenditure. One way of doing this is to reduce the amount of any 'expensive' ingredients used in my friends' mudslide (or to seek inferior but cheaper, substitute ingredients).
Any reduction in quality ingredients and/or a switch to inferior ingredients all result in a reduction in the taste/quality of my friends' mudslide (from the point of view of my friend).
But what do I know? Remember, IANAE & IANAB.
:-)
P.S., I'm planning to do a little 'research' which, if I can get my hands on the data, will look to discover if any relationship exists (or doesn't exist) between the amount of spirits (i.e., alchohol) sold by distributors/manufacturers, and the performance of the economy, in Barbados.
(Mudslide picture from A cat in the kitchen blog)
Recently, after a weekend out in 'The Gap,' a friend of mine mentioned that the taste of his Mudslide wasn't what it used to be. For the record, I'm a beer (Heineken) and soft drink (Coca-Cola) man myself. Another friend joked that I might try to correlate high gas prices and the change in taste of said Mudslide.
I did, here's my theory:
High gas prices result in high prices in general (this we already know, e.g. increased costs of living). High costs of living force people to cut back on the 'non-essentials.' A cut back in the 'non-essentials' is as a result of people having less discretionary income (which is money left over after the essentials like food, clothing and shelter have been taken care of, as per this Wikipedia article).
Less discretionary income may mean that businesses including: nightclubs, bars and hypothetically, academically and purely for the sake of this arguement, Club ABC123 (not the real name of the establishment where the Mudslide was served), may face a slowdown in business.
A slowdown in business may result in Management of Club ABC123 seeking to cut costs and to reduce expenditure. One way of doing this is to reduce the amount of any 'expensive' ingredients used in my friends' mudslide (or to seek inferior but cheaper, substitute ingredients).
Any reduction in quality ingredients and/or a switch to inferior ingredients all result in a reduction in the taste/quality of my friends' mudslide (from the point of view of my friend).
But what do I know? Remember, IANAE & IANAB.
:-)
P.S., I'm planning to do a little 'research' which, if I can get my hands on the data, will look to discover if any relationship exists (or doesn't exist) between the amount of spirits (i.e., alchohol) sold by distributors/manufacturers, and the performance of the economy, in Barbados.
Labels: Barbados, business, drinks, economics, fun, funny, humour, life, random, thoughts
Friday, August 29, 2008
Monday, July 28, 2008
If the Joker had a lolcat
UPDATE: The image seems to have vanished. Oh well. Try googling for 'joker lolcat' and see what comes up.
Originally found via Digg.
Originally found via Digg.
Tuesday, May 27, 2008
A dying breed: SPURMO (Straight Proud Unmarried Men Over-30)
How about this:
"It's the double standards where babies are concerned that I find objectionable. If a baby pukes, everyone rushes around like a Kennedy has been shot. But, if I should do likewise after three vodka tonics, a bottle of red and four sambucas, does anyone mop my fevered brow? No, they leave me to make my own way to KFC for a party bucket with mashed potatoes, gravy and onion rings. And when a baby kicks up a fuss, it is rewarded with boob. But if I start crying and demanding boob, I'm simply asked to leave the bus/cinema/restaurant/church."
Or this:
"Another friend, an attractive blonde 23-year-old law student, told me it doesn't matter if there aren't any single men my age to go out with. I can join her and her friends. Yes, sure, like the lonely Great Ape of Rwanda could hang out with the lemurs. He could, but he'd feel as conspicuous as I do in a group of 23-year-old law students. As nice as they are, I can't help but feel they're staring at me wondering, “who invited Old Man Time?” I don't have any trouble talking to 23-year-old girls. But I'd be wanting sex and they'd be wanting career advice."
Click here for the full article.
"It's the double standards where babies are concerned that I find objectionable. If a baby pukes, everyone rushes around like a Kennedy has been shot. But, if I should do likewise after three vodka tonics, a bottle of red and four sambucas, does anyone mop my fevered brow? No, they leave me to make my own way to KFC for a party bucket with mashed potatoes, gravy and onion rings. And when a baby kicks up a fuss, it is rewarded with boob. But if I start crying and demanding boob, I'm simply asked to leave the bus/cinema/restaurant/church."
Or this:
"Another friend, an attractive blonde 23-year-old law student, told me it doesn't matter if there aren't any single men my age to go out with. I can join her and her friends. Yes, sure, like the lonely Great Ape of Rwanda could hang out with the lemurs. He could, but he'd feel as conspicuous as I do in a group of 23-year-old law students. As nice as they are, I can't help but feel they're staring at me wondering, “who invited Old Man Time?” I don't have any trouble talking to 23-year-old girls. But I'd be wanting sex and they'd be wanting career advice."
Click here for the full article.
Monday, March 24, 2008
The Economist hits the nail right on the head!
This is exactly what I'm talking about:
"STUCK in a traffic jam on the road home after an Easter break, the motorist has time to ponder many things."
For me, it wasn't the Easter break, it was a typical day and I was either stuck in traffic, or going to and fro. The end result was this post:
"The similarities between economic systems, traffic lights, junctions and roundabouts."
"STUCK in a traffic jam on the road home after an Easter break, the motorist has time to ponder many things."
For me, it wasn't the Easter break, it was a typical day and I was either stuck in traffic, or going to and fro. The end result was this post:
"The similarities between economic systems, traffic lights, junctions and roundabouts."
Labels: Barbados, blogging, economics, funny, life, politics, The Economist
Saturday, December 22, 2007
Friday, November 23, 2007
Better late than never...
To those of you out there who celebrated it, hope you had a Happy Thanksgiving!
Monday, November 19, 2007
In case you missed it...
have a look at:
"Coming soon to an airport near you: Williams Air(?)"
and
"The similarities between economic systems, traffic lights, junctions and roundabouts"
"Coming soon to an airport near you: Williams Air(?)"
and
"The similarities between economic systems, traffic lights, junctions and roundabouts"
Labels: Barbados, blogging, economics, funny, life, money, politics
Sunday, November 18, 2007
The "Wanted: One Male Bed-Filler", lady speaks!
LOL, and she left a comment on my post about her 'ad' on craiglist (which as it turns out was a joke):
"Mary said...
Glad you liked my ad, but it was only a joke.
Why do so many guys think it's real!? Ha!"
Next time, I'll make sure to say that I'm joking and not serious about really applying. Although, I thought I made that pretty obvious in my post.
Hey there Mary, thanks for dropping by and for leaving your comment. I too dug around and found your blog and this post of yours:
"I'm totally inclined to check up on suspicious behavior. Wondering where things were coming from, I googled "wanted one male bed filler" to see where my ad had ended up. I mean, my Peru article went off to all sorts of weird places...
Upon googling, my bed-filler ad ended up on a blog (listed on Oct 19th) called Limberthing which calls itself "The best, the worst and the weirdest of online dating." Their take on it was that of furniture... um, alright.
Then comes the random blogger (posted Nov 14th). The dude wants to apply. I'm still flabbergasted at how many men wanted the job...?
Then there's the hater forum known as reddit.com
And this page.
If only I got paid for the exposure."
What flabbergasts me is that 'Mary' was surprised at how many men applied for the job. I mean come on, what did she really expect to happen? You put an ad like this on craigslist and you're flabbergasted at the responses? I'm surprised (and flabbergasted) that she didn't get a few women applying for the position as well (or maybe she did? LOL).
If I were interested in a 'bed-filling' position posted by an anonymous lady, then I may as well have taken up the anonymous lady who made me an offer (over the phone) to give me, if I remember correctly, a chocolate and vanilla tattoo! Don't ask, it's a long story and I'm not telling. :-)
Call me old fashioned (and crazy like a fox), but whatever happened to meeting a girl face to face, having a nice conversation, going out for a drink, then later on, maybe a dinner and a movie and letting it develop from there? Oh shit. I forgot, this is the 90's, not the 40's or 50's. Heck, it's not even the 90's, it's the 00's.
Boy am I getting old. After telling folks this, most people I know then tell me: "Amit, you haven't even seen a star pitch yet," or some variation thereof.
LOL :-)
"Mary said...
Glad you liked my ad, but it was only a joke.
Why do so many guys think it's real!? Ha!"
Next time, I'll make sure to say that I'm joking and not serious about really applying. Although, I thought I made that pretty obvious in my post.
Hey there Mary, thanks for dropping by and for leaving your comment. I too dug around and found your blog and this post of yours:
"I'm totally inclined to check up on suspicious behavior. Wondering where things were coming from, I googled "wanted one male bed filler" to see where my ad had ended up. I mean, my Peru article went off to all sorts of weird places...
Upon googling, my bed-filler ad ended up on a blog (listed on Oct 19th) called Limberthing which calls itself "The best, the worst and the weirdest of online dating." Their take on it was that of furniture... um, alright.
Then comes the random blogger (posted Nov 14th). The dude wants to apply. I'm still flabbergasted at how many men wanted the job...?
Then there's the hater forum known as reddit.com
And this page.
If only I got paid for the exposure."
What flabbergasts me is that 'Mary' was surprised at how many men applied for the job. I mean come on, what did she really expect to happen? You put an ad like this on craigslist and you're flabbergasted at the responses? I'm surprised (and flabbergasted) that she didn't get a few women applying for the position as well (or maybe she did? LOL).
If I were interested in a 'bed-filling' position posted by an anonymous lady, then I may as well have taken up the anonymous lady who made me an offer (over the phone) to give me, if I remember correctly, a chocolate and vanilla tattoo! Don't ask, it's a long story and I'm not telling. :-)
Call me old fashioned (and crazy like a fox), but whatever happened to meeting a girl face to face, having a nice conversation, going out for a drink, then later on, maybe a dinner and a movie and letting it develop from there? Oh shit. I forgot, this is the 90's, not the 40's or 50's. Heck, it's not even the 90's, it's the 00's.
Boy am I getting old. After telling folks this, most people I know then tell me: "Amit, you haven't even seen a star pitch yet," or some variation thereof.
LOL :-)
Labels: craigslist, funny, life
Wednesday, November 14, 2007
Found on craigslist
Found on best-of-craigslist: (NOTE: LOL! I'm considering applying for the position. I meet all of the requirements, except the height item. The last time I checked, I was either 5'10" or 5'11", I can't remember.)
"Wanted: One Male Bed-Filler
Date: 2007-09-16, 11:58PM PDT
I’m just another busy person always on the go. I recently moved to a new place and bought a fantastic bed that I love. While so caught up in my day to day life, I have not had time to develop a romantic relationship lately. But when I come home at the end of the day and get in bed, it feels very empty.
I have thus decided to take applications for a bed-filler.
This is NOT a sex thing. If anything, it might be more appropriate to post this in the housewares section… but anyways.
Me:
-25 years old, straight single female
-5’8”, blond, hazel eyes, thick/curvy
-often restless/occupied when I get in bed; in need of soothing, relaxation
My bed:
-1 full sized bed, located in nice room in nice basement suite
-clean sheets
-2 new pillows for sleeping – none of those annoying throw pillows
-1 blue fleece blanket decorated with reindeer (don’t ask)
-room temperature kept cool as to facilitate snuggling (see below)
I require:
-one straight, single man
-between the ages of 25 and 30 years old
-minimum 6 feet tall, 6’2” is better, 6’4” is most desireable and also the maximum height sought
-must practice good hygiene, smell pleasant and regularly manscape if his body hair is excessive in volume
-piercings and tattoos to be considered on individual basis
-must enthusiastically cuddle, snuggle and spoon me
-must NOT scratch himself excessively in the morning and NEVER Dutch-oven me
-must limit alcohol intake to 2 beers on any night he is acting as bed-filler
-must seek medical consul if he consistently snores when not drunk, sick
-should occasionally play with my hair
What the successful applicant receives:
-the satisfaction of helping me sleep better
-sleeping with a girl who’s hair always smells nice
-free dream interpretation in the morning (just a weird gift I have)
Applicants who can demonstrate ESP skills, thus knowing which nights and at what times I need my bed-filler without my explicit request, will be given priority in the short listing phase. Amusing and/or insightful pillow talk may be rewarded with kisses or tea (to be decided at the discretion of the bed-filler).
Thanks and good luck!"
"Wanted: One Male Bed-Filler
Date: 2007-09-16, 11:58PM PDT
I’m just another busy person always on the go. I recently moved to a new place and bought a fantastic bed that I love. While so caught up in my day to day life, I have not had time to develop a romantic relationship lately. But when I come home at the end of the day and get in bed, it feels very empty.
I have thus decided to take applications for a bed-filler.
This is NOT a sex thing. If anything, it might be more appropriate to post this in the housewares section… but anyways.
Me:
-25 years old, straight single female
-5’8”, blond, hazel eyes, thick/curvy
-often restless/occupied when I get in bed; in need of soothing, relaxation
My bed:
-1 full sized bed, located in nice room in nice basement suite
-clean sheets
-2 new pillows for sleeping – none of those annoying throw pillows
-1 blue fleece blanket decorated with reindeer (don’t ask)
-room temperature kept cool as to facilitate snuggling (see below)
I require:
-one straight, single man
-between the ages of 25 and 30 years old
-minimum 6 feet tall, 6’2” is better, 6’4” is most desireable and also the maximum height sought
-must practice good hygiene, smell pleasant and regularly manscape if his body hair is excessive in volume
-piercings and tattoos to be considered on individual basis
-must enthusiastically cuddle, snuggle and spoon me
-must NOT scratch himself excessively in the morning and NEVER Dutch-oven me
-must limit alcohol intake to 2 beers on any night he is acting as bed-filler
-must seek medical consul if he consistently snores when not drunk, sick
-should occasionally play with my hair
What the successful applicant receives:
-the satisfaction of helping me sleep better
-sleeping with a girl who’s hair always smells nice
-free dream interpretation in the morning (just a weird gift I have)
Applicants who can demonstrate ESP skills, thus knowing which nights and at what times I need my bed-filler without my explicit request, will be given priority in the short listing phase. Amusing and/or insightful pillow talk may be rewarded with kisses or tea (to be decided at the discretion of the bed-filler).
Thanks and good luck!"
Labels: craigslist, funny, life
Sunday, October 21, 2007
The similarities between economic systems, traffic lights, junctions and roundabouts
UPDATE: Oct 22, 9:10 PM. The post is now finished.
(DISCLAIMER: IANAE, I Am Not An Economist)
(DISCLAIMER: IANATE, I Am Not A Transport Engineer)
(DISCLAIMER: IANAP, I Am Not A Politician)
And no, I am not crazy. The long commute to the office does, on occasion, give me plenty of time to think about all sorts of things. In this case, identifying the similarities between economic systems (open, closed and mixed), traffic lights, junctions and roundabouts.
An Open Economy (Capitalism) = Four-Way Junction Without Working Traffic Lights
In a nutshell, an open economy is one where there is practically little, or no involvement by the State with regards to the running, or regulation, of the economy. The market is free to operate as efficiently as possible. The laws of supply and demand rule supreme. There are no price controls, regulations, state-owned or subsidised enterprises (like our very own CBC, QEH, BWA). The factors of production are all privately owned and operated with the goal of making a profit.
If a company is the sole provider of a good or service (a monopoly), it is free to charge whatever it wants. Dissatisfaction may lead to another company entering the market and providing the same goods at a better price. The consumer now has a choice, competition ensues and he/she is usually better off. The government stands by the sidelines and does not get involved.
There are several advantages and disadvantages to this type of economic system. One advantage is that the business owner is free to run his/her business, as best as they see fit. The lure of profit and a healthy return on investment, are typical reasons for persons starting a business in the first place.
However, a notable disadvantage exists as well. How do we protect those citizens who are less fortunate? Those in society who cannot afford the costs of a good or service (like education). Who will look after their basic needs if the market is only interested in running as efficiently as possible, and profit is the primary driving force behind all actions.
Now let's look at a typical four-way junction and motor traffic. Most Barbadians are familiar with the junction at Redmans, St. Michael (A Shell gas station operates at one of the corners of this junction).
What happens when the traffic lights are not working? Many people will argue that traffic flows freely. I believe that this is a good example of an open economy at work. The traffic lights represent Government regulation and control. This can potentially restrict the performance of the economy (or, the flow of traffic).
Motorists heading to either the north of the island (St. Lucy for example), or the south (that is, back to Warrens) enjoy a clear advantage over those drivers who are stuck on the east or west sides of the junction, who want to go either north or south. They have to wait for someone to let them join the main flow of north and south-bound traffic. These drivers are at a disadvantage, similar to the poor in an open economy with no Government protection, subsidies, or access to basic or affordable social services (like education or health care).
The motorists who are heading north or south, are free and are mostly unconcerned about the other motorists who have to look for a lucky break in order to join the main flow. And just like many businesses (the world over), most of them may not be concerned with the other 'motorists,' or with those less fortunate members of society, unless it has the potential to negatively affect their bottom-line.
These north and south-bound motorists are using their unique advantage, non-working traffic lights (or an open economy in the case of a business), to the utmost extreme, and are profiting by not having to sit in traffic and by therefore arriving at their respective destinations in a timely fashion.
Similarly, businesses who are not concerned about Government intervention in setting prices, controlling the types of businesses, restriction of foreign investment, will clearly enjoy these advantages. There is room for competition as other businesses spring up to offer a better, cheaper product. Increased competition and liberalisation of a market (for example, telecommunications) brings the benefit of choice to the consumer. There are no 'traffic lights', (no Government involvement) to slow them down. It's a free for all.
A brief note on increased competition, liberalisation of the local market, and the admittance of foreign companies into a country, especially a small one like Barbados. While the consumer may end up benefiting by having a wide variety of choice and access to cheaper goods and services, locally owned and operated companies may end up suffering over the longer term.
Many of these foreign-owned businesses have extremely deep pockets, and can easily enter into a country, reduce the prices of their goods and services drastically, capture the market, and effectively wipe out or greatly reduce the amount of competing businesses. As a result, it may become unprofitable and impractical for local companies to maintain their respective levels of unemployment, and as such, many may have to downsize their operations. (Downsizing is a nice word for lay-offs or having to 'let people go').
But go where? Unless the foreign-owned companies are willing to hire these employees, they may remain unemployed and will not be able to purchase most goods and services. What then? The foreign-owned companies may end up closing down and heading back home. After all, without any consumers for their goods or services, it means no revenue. The overseas parent companies will probably not accept this and may end up pulling out of the country in search of greener pastures elsewhere.
Trade restrictions, tariffs, subsidies and other related measures (think traffic lights, control and regulation), can be instituted by Government and can help protect local businesses and industries by placing limits on who can setup shop and what they can offer in a country.
A Closed Economy (Communism & Socialism) = Four-Way Junction With Working Traffic Lights
Switch on the traffic lights and you've got instant Government involvement and control. The motorists sitting on the east and west sides of the junction now enjoy the same advantage that north and south-bound motorists enjoy. They just have to wait for about thirty seconds for the light to change green. The traffic light (Government) is the great equalizer.
With this control, however, certain limitations and restrictions on how businesses can operate will come into play. Government's involvement in the economy may hamper its potential for growth or expansion. After all, one of the primary roles of a Government is to provide for, and look after its citizens (especially the poor or less fortunate).
As a result of their involvment, high costs (paid for by tax payers who are usually middle-class), inefficiencies and less-than-ideal goods or services are made available to the poor. But remember, something is better than nothing, and Government is primarily interested in providing services for the greater good, not in turning over a profit.
Some private individuals and businesses may not be willing to setup a business, expand an existing one, or invest in a new one, simply because of this high level of Government involvement in the affairs of the economy. It makes it highly unattractive for would-be capitalists and budding entrepreneurs. Furthermore, overseas investors would be reluctant to investment in the country. Similarly, some north and south-bound motorists may avoid the Redman's junction all together and look for an alternate route, one that does not involve traffic lights.
A Mixed Economy (Capitalism + Communism & Socialism) = Roundabout
A mixed economy is one where there is a good mixture of both private and public sector enterprises. There is a 'reasonable' amount of Government involvement in the affairs of the economy, but not as much as a true planned or closed economy. Barbados is a good example of a country with a mixed economy.
The mixed economy, it would seem, offers the best of both worlds. There are private sector interests that are concerned with creating wealth, profit and return on investment, as well as public sector interests that exist to serve the public by way of providing essential services (like a police force, a water authority and basic health care). For those who can afford it, private health care exists, as do private schools. Society has a choice, if you can afford the best, you can have it. If you cannot afford the best, then you'll have to make do with what the Government can provide for you.
The roundabout looks, to me, like a good example of the mixed economy. There are no traffic lights, yet there still exists a basic, controlled flow of traffic. Motorists are not disadvantaged. As long as there is no traffic approaching from the right (or slowly approaching), they are free to enter and exit the roundabout whenever they feel like. There is an element of choice, although somewhat controlled, present. As a motorist, you only have to slow down or stop to give way to traffic approaching from the right. You are not being controlled by traffic lights, nor are you stuck waiting for someone to 'let you out' so that you can join the major flow of traffic.
This post is by no means an accurate or even semi-accurate analysis of the similarities between economic systems and traffic signals, etcetera and should not be treated as such. For example, there are currently major traffic issues in the Warrens area as a result of the highway expansion project. These issues affect the performance of the roundabout(s), traffic lights and junctions.
In conclusion, remember the disclaimers at the beginning of this post: IANAE, IANATE, IANAP.
;-)
(DISCLAIMER: IANAE, I Am Not An Economist)
(DISCLAIMER: IANATE, I Am Not A Transport Engineer)
(DISCLAIMER: IANAP, I Am Not A Politician)
And no, I am not crazy. The long commute to the office does, on occasion, give me plenty of time to think about all sorts of things. In this case, identifying the similarities between economic systems (open, closed and mixed), traffic lights, junctions and roundabouts.
An Open Economy (Capitalism) = Four-Way Junction Without Working Traffic Lights
In a nutshell, an open economy is one where there is practically little, or no involvement by the State with regards to the running, or regulation, of the economy. The market is free to operate as efficiently as possible. The laws of supply and demand rule supreme. There are no price controls, regulations, state-owned or subsidised enterprises (like our very own CBC, QEH, BWA). The factors of production are all privately owned and operated with the goal of making a profit.
If a company is the sole provider of a good or service (a monopoly), it is free to charge whatever it wants. Dissatisfaction may lead to another company entering the market and providing the same goods at a better price. The consumer now has a choice, competition ensues and he/she is usually better off. The government stands by the sidelines and does not get involved.
There are several advantages and disadvantages to this type of economic system. One advantage is that the business owner is free to run his/her business, as best as they see fit. The lure of profit and a healthy return on investment, are typical reasons for persons starting a business in the first place.
However, a notable disadvantage exists as well. How do we protect those citizens who are less fortunate? Those in society who cannot afford the costs of a good or service (like education). Who will look after their basic needs if the market is only interested in running as efficiently as possible, and profit is the primary driving force behind all actions.
Now let's look at a typical four-way junction and motor traffic. Most Barbadians are familiar with the junction at Redmans, St. Michael (A Shell gas station operates at one of the corners of this junction).
What happens when the traffic lights are not working? Many people will argue that traffic flows freely. I believe that this is a good example of an open economy at work. The traffic lights represent Government regulation and control. This can potentially restrict the performance of the economy (or, the flow of traffic).
Motorists heading to either the north of the island (St. Lucy for example), or the south (that is, back to Warrens) enjoy a clear advantage over those drivers who are stuck on the east or west sides of the junction, who want to go either north or south. They have to wait for someone to let them join the main flow of north and south-bound traffic. These drivers are at a disadvantage, similar to the poor in an open economy with no Government protection, subsidies, or access to basic or affordable social services (like education or health care).
The motorists who are heading north or south, are free and are mostly unconcerned about the other motorists who have to look for a lucky break in order to join the main flow. And just like many businesses (the world over), most of them may not be concerned with the other 'motorists,' or with those less fortunate members of society, unless it has the potential to negatively affect their bottom-line.
These north and south-bound motorists are using their unique advantage, non-working traffic lights (or an open economy in the case of a business), to the utmost extreme, and are profiting by not having to sit in traffic and by therefore arriving at their respective destinations in a timely fashion.
Similarly, businesses who are not concerned about Government intervention in setting prices, controlling the types of businesses, restriction of foreign investment, will clearly enjoy these advantages. There is room for competition as other businesses spring up to offer a better, cheaper product. Increased competition and liberalisation of a market (for example, telecommunications) brings the benefit of choice to the consumer. There are no 'traffic lights', (no Government involvement) to slow them down. It's a free for all.
A brief note on increased competition, liberalisation of the local market, and the admittance of foreign companies into a country, especially a small one like Barbados. While the consumer may end up benefiting by having a wide variety of choice and access to cheaper goods and services, locally owned and operated companies may end up suffering over the longer term.
Many of these foreign-owned businesses have extremely deep pockets, and can easily enter into a country, reduce the prices of their goods and services drastically, capture the market, and effectively wipe out or greatly reduce the amount of competing businesses. As a result, it may become unprofitable and impractical for local companies to maintain their respective levels of unemployment, and as such, many may have to downsize their operations. (Downsizing is a nice word for lay-offs or having to 'let people go').
But go where? Unless the foreign-owned companies are willing to hire these employees, they may remain unemployed and will not be able to purchase most goods and services. What then? The foreign-owned companies may end up closing down and heading back home. After all, without any consumers for their goods or services, it means no revenue. The overseas parent companies will probably not accept this and may end up pulling out of the country in search of greener pastures elsewhere.
Trade restrictions, tariffs, subsidies and other related measures (think traffic lights, control and regulation), can be instituted by Government and can help protect local businesses and industries by placing limits on who can setup shop and what they can offer in a country.
A Closed Economy (Communism & Socialism) = Four-Way Junction With Working Traffic Lights
Switch on the traffic lights and you've got instant Government involvement and control. The motorists sitting on the east and west sides of the junction now enjoy the same advantage that north and south-bound motorists enjoy. They just have to wait for about thirty seconds for the light to change green. The traffic light (Government) is the great equalizer.
With this control, however, certain limitations and restrictions on how businesses can operate will come into play. Government's involvement in the economy may hamper its potential for growth or expansion. After all, one of the primary roles of a Government is to provide for, and look after its citizens (especially the poor or less fortunate).
As a result of their involvment, high costs (paid for by tax payers who are usually middle-class), inefficiencies and less-than-ideal goods or services are made available to the poor. But remember, something is better than nothing, and Government is primarily interested in providing services for the greater good, not in turning over a profit.
Some private individuals and businesses may not be willing to setup a business, expand an existing one, or invest in a new one, simply because of this high level of Government involvement in the affairs of the economy. It makes it highly unattractive for would-be capitalists and budding entrepreneurs. Furthermore, overseas investors would be reluctant to investment in the country. Similarly, some north and south-bound motorists may avoid the Redman's junction all together and look for an alternate route, one that does not involve traffic lights.
A Mixed Economy (Capitalism + Communism & Socialism) = Roundabout
A mixed economy is one where there is a good mixture of both private and public sector enterprises. There is a 'reasonable' amount of Government involvement in the affairs of the economy, but not as much as a true planned or closed economy. Barbados is a good example of a country with a mixed economy.
The mixed economy, it would seem, offers the best of both worlds. There are private sector interests that are concerned with creating wealth, profit and return on investment, as well as public sector interests that exist to serve the public by way of providing essential services (like a police force, a water authority and basic health care). For those who can afford it, private health care exists, as do private schools. Society has a choice, if you can afford the best, you can have it. If you cannot afford the best, then you'll have to make do with what the Government can provide for you.
The roundabout looks, to me, like a good example of the mixed economy. There are no traffic lights, yet there still exists a basic, controlled flow of traffic. Motorists are not disadvantaged. As long as there is no traffic approaching from the right (or slowly approaching), they are free to enter and exit the roundabout whenever they feel like. There is an element of choice, although somewhat controlled, present. As a motorist, you only have to slow down or stop to give way to traffic approaching from the right. You are not being controlled by traffic lights, nor are you stuck waiting for someone to 'let you out' so that you can join the major flow of traffic.
This post is by no means an accurate or even semi-accurate analysis of the similarities between economic systems and traffic signals, etcetera and should not be treated as such. For example, there are currently major traffic issues in the Warrens area as a result of the highway expansion project. These issues affect the performance of the roundabout(s), traffic lights and junctions.
In conclusion, remember the disclaimers at the beginning of this post: IANAE, IANATE, IANAP.
;-)
Labels: Barbados, blogging, economics, funny, life, politics
Saturday, October 13, 2007
Friday, September 28, 2007
Adventures In Facebook Land
I've never been a huge fan of any of the 'social networking' sites (hi5, MySpace, Facebook, etcetera), and have generally avoided them. My how times have changed. I'm on Facebook now. I had to join in order to view some pictures a friend took during a night out on the town. But this post isn't about my FB adventures. It's about a good friend of mine. Here's his story (which he sent via e-mail to our group):
Sep 26, 2007:
Some time ago some random gyal wanted to add me as a friend on FB. I added her, because I could care less really, but only let her see my limited profile.
It seems that today she realised she could only see me limited profile, and she sent me a message about it, here is our correspondence:
Jane Doe (not her real name)
Today at 8:13am
Report Message
? Why do i only have ur limited profile?
Sent via Facebook Mobile
John Doe (not his real name)
Today at 8:43am
Mostly because to be honest I really don't know who you are I'm afraid.
Jane Doe
Today at 9:54am
Report Message
Okay that makes sense but unfortunately that is an insult so I'll just delete you.
Sent via Facebook Mobile
John Doe
Today at 11:24am
No prob.
Sep 26, 2007:
Some time ago some random gyal wanted to add me as a friend on FB. I added her, because I could care less really, but only let her see my limited profile.
It seems that today she realised she could only see me limited profile, and she sent me a message about it, here is our correspondence:
Jane Doe (not her real name)
Today at 8:13am
Report Message
? Why do i only have ur limited profile?
Sent via Facebook Mobile
John Doe (not his real name)
Today at 8:43am
Mostly because to be honest I really don't know who you are I'm afraid.
Jane Doe
Today at 9:54am
Report Message
Okay that makes sense but unfortunately that is an insult so I'll just delete you.
Sent via Facebook Mobile
John Doe
Today at 11:24am
No prob.
Saturday, September 22, 2007
Friday, August 24, 2007
"Crouching Tiger, Hidden Dragon"
Lolcat's are either just plain stupid, or flat out hilarious. I'm leaning towards the latter. Like 'em? Be sure to check out the definitive lolcats archive: I CAN HAS CHEEZBURGER? Also, click here to view a few lolcat images that I created.
Lolcat's are either just plain stupid, or flat out hilarious. I'm leaning towards the latter. Like 'em? Be sure to check out the definitive lolcats archive: I CAN HAS CHEEZBURGER? Also, click here to view a few lolcat images that I created.
