Week 12 Blog Reviews

Lauren:

Your first post “The Happy Medium” did a great job of illustrating both sides of the argument. I really liked the quotes that you used from the reading, they added a lot to your ideas. Also, I liked the way that you summed it all up so well by calling for “a happy medium.” It was concise and you supported your point really well. In you second post “Financial Discipline and Everyday Life,” I loved how you summed up the history of finances in your first paragraph, it’s a really dense subject but you handled it really well. I also liked the way that you related it to everyday life as well as showed its development over time.

Mary:

In your first post “TGFG” I thought you started off by asking some great questions that really make people stop and think. I liked the way that you pulled in the idea of “every man for himself,” as well as the fact that people primarily work for their paycheck. I agree with you about the thought of a world without laws/rules would be a frightening one! “Finances As We Know It,” your second post, started off with a really great point about everyone’s fascination with money. I also liked how you tied the advances in finances to choice, really interesting point!

The Science of Stocks

The theorization of finance following World War II forever changed the economic sector (Chance and Peterson 447). The emergence of the science of finance came about in order to remove a lot of the risk that comes with investment. In an effort to remove a lot of this uncertainty, investors transformed this hit-or-miss guessing game into an empirical scientific practice.

Several social, economic, and technological changes took place which facilitated this change from guesswork to formula. One such advance was the invention of the new branch of mathematics called stochastic calculus (Chance and Peterson 450). One of the main contributing factors to this mathematical breakthrough was the discovery of Brownian Motion which only came to light in 1827, which was the result of the advances in microscope technology during the 19^th century. As such, the microscope was one technological change that made finances a quantifiable field (Microbus Organization).

Another advance that allowed practitioners of this discipline to carve out a niche for themselves in the world of the academy was the mass media. Mass media enabled trading news to be made available to huge investment firms but also to the everyday citizen quickly so that they could stay on top of the market (Chance and Peterson 453). The interaction between the private investor and the corporations allows Fama to classify the market status (Chance and Peterson 453). This classification adds to the credibility of the market and furthers its scientific status. Clearly, the modern market is the result of complex mathematics and sciences and is no longer a game of hit-or-miss.

The Regulator

The debate between the libertarian/governmental control issue is one that rages every day in the United States. The libertarian view point favors an unregulated nation while the governmental side believes that high government regulation is the best route. On a lesser scale, this is one of the core debates between the Republican Party, who favor less government regulation, and the Democratic Party, who opt for more government regulation. As with the political parties, people call fall at several different spots along this view-point spectrum. For instance, Sameer Parekh, “believes that all governmental control should be stripped away” (Beedles 443) while others, “believe that human beings need to have their drives, desire, and impulses reined in – that the anarchy that would result from no governmental control would be a highly undesirable state” (Beedles 444).

While I definitely think that Parekh takes the absence of governmental control too far, I think that government regulation should be area specific. For example, the way that Parekh attempts to “fight the power” is by using a technology that can be used by child pornographers to get away with their atrocious crimes (McHugh 436). I think that the internet should be one of the most highly regulated arenas as there are so many online predators. While it is definitely important to preserve the Freedom of Press in all medium, internet included, I would much rather have the government catching child predators than being blocked from reading my English blog. Therefore, when it comes to matters of the law and national safety I believe that government regulation, to some degree, is necessary.

However, when it comes to the economic arena I really favor an absence of government regulation. The free market, to me, is the best and healthiest form of economy when dealing with a capitalist system. If the market is allowed to have free reign, then the good business will thrive while those with poor goods and services will quickly collapse. If, instead, the government gets closely entwined with the economy then there will be a mixing of interests. To me, it is very similar to the idea of the separation between church and State. Without such fundamental separations, then rights and freedoms are squashed. Due to my attitude that regulation is genre specific, I do not align myself with either the libertarian or governmental point of view. However, as I do favor less regulation in most arenas I would have to lean toward the libertarian side, but not to the extreme that Parekh does.

Week 11 Blog Reviews

Lauren:

“’Fired’ Up for Improvements” was a really artfully written post. You described Chicago with such clarity and emotion! I’ve never been there, but my Grandma grew up just outside Chicago and always raves about how much she loves it too. You did a really nice job of informing and entertaining. Your post had a lot of great information, but it never seemed dull or dry. Your second post “Italian Influence on America” was such an interesting read. That was a really interesting fact about America being based off of an Italian’s name! I thought that, again, you did a great job of presenting strong information in a creative and entertaining way.

Mary:

Your post “Big Spender” (nice title by the way) used a lot of great information from the reading for support. I especially liked your closing sentence, “Instead of viewing our materialistic habits as something to be ashamed of, we should celebrate the fact that we as a society have the opportunity to express ourselves in so many different ways.” This is such a valid and powerful point! In your second post, “America, a Place of Peace,” brought up a sad but true fact that many people have negative stereotypes of American Indians. I liked how you addressed this unfortunate situation by talking about some of the positive and admirable facets of Native American culture as well. I only wish that you perhaps had talked a little more in depth about a specific tribe or people, just because many tribes bring new and interesting beliefs and points of view to the table. Really nice post!

Guten Tag

My family came to America from Southern Germany, commonly known as Bavaria. Like most other Americans, I am a mix of several other ethnic groups, however the vast majority of me is German, in fact you could say that I’m uber German. Germans have traditionally been the largest or second largest immigrant group in the United States (Dr. Laura Baker). Unlike many other immigrants, they were met with very little hostility as German immigrants were predominantly white and Protestant (Lescott‐Leszczynski 1984, 9‐15). According to the United States Embassy, “Famous for their practical skills, thrift, hard work, interest in the arts, and enjoyment of good living they have left their mark indelibly on American culture and life.”

Since so many German immigrants arrived in America at the same time as the Industrial Revolution, it is only logical that they played a prominent role in this important stage of America’s economy. The United States Embassy reports that, “The roll call of German-American leaders in business and finance includes names like Astor, Boeing, Chrysler, Firestone, Fleischman, Guggenheim, Heinz, Hershey, Kaiser, Rockefeller, Steinway, Strauss (of-blue jeans fame), Singer (originally Reisinger), Sulzberger, Wanamaker, and Weyerhaueser.”

Perhaps one of the most famous German-Americans is the founder of Budweiser Brewing Company. By introducing the brewery to the economic platform, he forever changed the American economic stance on alcoholic beverages. This changed the industry from a mom-and-pop distillery into an economic powerhouse. Since German immigrants were able to successfully assimilate into the American mainstream, it is almost impossible to separate their contributions to the economic fabric from that of just plain “American.”