Discussion Post

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Economics

Wild Card: 1

           Recycling scheme of Norway is one of the most successful recycling schemes all over the world. The success rate of the Norwegian recycling scheme is 97%, however, in the US, the recycling rate for plastic bottles is just 30%. Norwegian recycling scheme hinges upon the loan scheme. According to the loan scheme, whenever a customer buys a plastic bottle, he is charged with some additional amount. The additional amount is equivalent to 13 to 30 US cents. The question is; is it possible for the US to adopt the Norwegian model for recycling of plastic bottles? Probably no! the reason is the simple economy of scale. Norway is about the population of one of the smaller U.S. states. To apply the Norwegian model on the scale of the entire United States, with the many different state law structures, is practically impossible. It is like so many of the comparisons of how something is done in Norway, so why cannot the U.S. do it? Country size is a big factor, but also a difference in the legal structure of the countries plays a big role too. It’s not that Norway is any better or any worse than the U.S., it’s simply that they are different. Sometimes the difference is positive, sometimes not, but comparing a country the size of Norway with the United States is impossible.

Wild Card: 2

           The pain one carries can override any rational thought. People do feel the need to punish those who they feel hurt them or didn’t help them in work. Society can get caught up in things that do not matter and forget to help those in desperate need of help. People can be so self-centered that they cannot see the pain and suffering of others. Some people are overlooked and go to extremes when no one will help them. More often than not, people feel disrespected and undervalued at work, however, there is no place of emotions in business. In a corporate culture, companies want employees to be happy not out of altruism but because employers are of the view that happy employees are more productive than unhappy employees. In such a corporate culture, the economic value of the happiness of employees is always less than the economic value of whatever management did that made them unhappy. Such kind of economic values are calculated, so complaining management about hurt feelings, however, is a dead end.

Wild Card: 3

            Ensuring students have access to resources resulting from their costly education would help shrink the burgeoning student loan debt. Graduation or not graduating means little if there isn’t a significant increase in affluence. As far as America’s student debt is concerned, it has reached $1.5 trillion. Regulating the loan program is tough because it is imperative to allow disadvantaged populations to have access to education and a fair shot at winning the affluence lottery. When 500 applicants go after one or two positions, it is distinctly a lottery since most realistic applicants will be qualified. What is wrong about creating infinite educational opportunities? Infinite educational opportunities put a massive burden on taxpayers. Student loans are underrated, because weak students are, sometimes, at a disadvantage concerning socioeconomic and academic opportunities. Albeit, student will be left with some skin in the game if they are provided with no-interest loans, however, a student will have to repay if their educational venture fails. It is high time that the loan program was reformed. However, if equal interest rates are charged regardless of odds of success then it would be a recipe for fruitless credential inflation. To bolster the effectiveness of student loan then interest rates for weak or high-risk students must be raised. Raising interest rates for the high-risk student will warn the students to look before they leap.