Finance and Economics

Rich Dad, Poor Dad
Chapter 1
Robert Kiyosaki

-"the subject of money is taught at home, not in school."
-The poor dad would tell him "I can't afford it." and the rich dad would say "How can I afford it?"
-When you ask "How can I afford it?" it puts your brain to work, but it's lazy when you say "I can't afford it."
-The rich dad believed his brain got stronger everyday.
-One dad said "The reason I'm not rich is because I have kids."  The other said "The reason I must be rich is because I have you kids." The one dad liked to talk about money at the table and the other hated to.
-The one dad said "Learn to manage risk." but the other said "don't take risks."
-The poor dad said "Money doesn't matter." but the rich dad said "Money is power."
-The book shows how one person can become poor, and another could become rich.

In this book, Robert Kiyosaki explains that he had two dad and how one of them became very rich, while the other became very poor. One reason that supports the main idea is the rich dad became rich because he thought how can I make money. Another reason that supports the main idea is the poor dad became poor because he never took financial risk and wasn't as motivated to become rich. Finally the author gives the example of how each of his dads had similar wealth, but the poor dad sank deeper and deeper into dept and the rich dad got more wealthy to support the main idea. These ideas are similar to Africa, because the wealth was unevenly distributed.

Outsmarting IQ

Outsmarting IQ
Free Press
Is IQ fair? (Culture Fair?)

• different cultures, different perspectives and attitudes and encouragement towards education
• Asian cultures: parents urge young ones to study diligently and hard in school and the parents are supportive with doing school work assiduously.
• stable homes affect a child's IQ
• Both parents present affect child's IQ
• Income size affect child's IQ
• Family size affect child's IQ
• Urban/ city environment affect child's IQ
• Asians have the lowest school drop-outs
•  Dropping out of school: "A disgrace in Asian community"

 In this book, the author expalains that the environment of a child affects it's intelligence. One reason that supports this main idea is, according to the author of this book, Asians mostly do better in school because of parental strictness and.  Another reason that supports this main idea is One reason/fact/example that supports this main idea is, the income, living, family size all affects the education of a child.  Finally, the author gives the reason/ that different cultures have different perspective and encouragement towards education to support the main idea.These ideas are similar to the ideas of how people who are in poverty and don't have a surrounding that is well established, don't do as well in testing vs those who receive good education because this shwos that environment is a big factor that plays in a child's learning.

Thin-Slicing

Blink, by Malcolm Gladwell: "The Theory of Thin Slices"

*This chapter talks a lot about first impressions and judgments.  We all make assumptions.

*A lot of the times we usually take what is on the outside and don't take a look at what someone is like on the inside, Malcolm Gladwell calls this theory thin slicing.

*If people in the world are being 'thin-sliced' or judged by first appearance or impression then one's appearance or personality is what will get them their future job at first, and it is not fair.

*Many times, people only have time for a quick first glance judgment.

*When Tom Hanks did a reading to be cast into a film called Splash, the producers at first did not think he was funny or looked the part.  They 'thin-sliced' or first-glanced him.  When they finally took the time to see past the crust and look inside of him and see more of who he was they decided he was the perfect fit for the part.  If Tom Hanks hadn't of gotten this role he may not have been famous.

*You never know where judged people would be today if they were not judged.

*This doesn't happen to everyone though and a lot of times people do not get jobs or opportunities they want to do being judged by others based on first impression.

*To see who someone really is, you need to restrict yourself from all judgments and see what the person applying for a position or job that will ultimately define his future is really like on the inside.

*People being 'thin-sliced' controls the outcome of their future.  If they do not have a good interview and first impression with an employer they will not get a job and therefore not have money to take care of themselves or their families and it will affect how they live for the rest of their lives.
*Sometimes people need to think fast though.  For example, if military officers did not think fast our country's safety would be in jeopardy

In this chapter, Malcolm Gladwell argues that people make judgments and decisions based on first impressions.   He calls this theory 'thin-slicing'.  One example of thin slicing that Gladwell includes in the chapter is the story of Tom Hanks, who was judged when he first auditioned for a leading movie role and did not get the job at first until the producers looked beneath the surface and saw more of his personality.  Also, Gladwell tells us that military officers use the power of first glance to make decisions in the battlefield.  Finally, Gladwell tells us that you need to know someone for a few months before you can make a judgment and say you truly know them.  These ideas remind me of a TV show called The Voice, where to eliminate judges' prejudice based on appearance, singers are not seen and only judged based on their sole voice.  

diversity

Elemantary school, middle school, high school all try to get you to open up to diversity. In high school you are exposed to alot more diversity and prejudice. the us is called the melting pot because of all the diversity that some peole dont take advantage of and dont appreciate.

African american women

• Sheila Johnson, who helped create Black Entertainment Television (BET)
• Sheila Johnson, became the first African American female to own a professional sports team.

Video on Identity, Race and Inequality in America

http://www.ted.com/talks/bryan_stevenson_we_need_to_talk_about_an_injustice.html

This video also looks at: the connection between history in America and inequality today. What makes us human?  What do we need to do in order to feel what others have felt? What is the opposite of poverty? What will future generations judge us by?

sugrery to be beautiful

Aesthetic surgery

-they under go knives to be considred as beautiful
-they risk their lives to be perfect
-abdominoplasty (tummy tuck), blepharoplasty (eyelid surgery), brachioplasty (upper-arm lift), breast augmentation, breast lift, buttock and calf implants, buttock lift, chemical peel, collagen injections, dermabrasion, face and forehead lifts, fat injections, gynecomastia (male breast reduction), laser skin resurfacing, liposuction, malar (cheek) augmentation, male-pattern baldness reduction, mentoplasty (chin reconstruction), otoplasty (ear surgery), penile and pectoral implants, rhinoplasty (nose job), and thigh lift.
-some people think it cures the soul because you feel prettier
-

Problems and challenges of Immigration

Problems and challenges of Immigration

- Alot of people started to migrate from Euriope Australia, andUnited staes either one illegally or two legally.
- Right aftter World war two
- They trying to escape poverty
- Poeple did nopt like having immigrants in there countries because they would take away the jobs of people who lived in the town
- Alot of groups of people became segregated against the immigrants.
-Differences in language, culture, and appearance between immigrant groups and the citizens of the host country.
Question What kinds of jobs did the immigrants take away from the people?]

http://www.school.eb.com/eb/article-233877?query=immigrants&ct=eb

High and low skilled immigrants (3)

Enclycapedia britaqnica,  High and low skilled Immigrants,

 - Alot of immigrants that were not educated came to the United staets  from Mexico
  - The immigrants are in search of better income jobs.
-the new wage is better for the less educated people who had a horrible wage before.
-There were a lot of unskilled immigrants coming into the united staes but at the same time there were immigrants that had some ver y good skills.
-Immigrants from India had college degrees. (Engineering/ computer skills)
-The number of PHD students were students who were foreign born.

1) Why do people view immigrants badly if some of them have good skills?
2) Do people view immigrants smarter or less smart?


http://www.school.eb.com/eb/article-258243?query=immigrants&ct=

Sociology of Sports

THE SOCIOLOGY OF SPORTS

Published in 2009 by Cengage Learning

Written by Jerry M. Lewis, a professor at Kent State University

The information found in this article is very accurate.  It is written by a college professor and the sources of information are all sited at the bottom of the page and it is published by a big name brand,

Cengage Learning.

Here is what I learned:

*Sports are relatable to all points of modern society, wether it be social media or simply something to talk about.  People may show interest in sports to 'fit in'.

*By sports being so popular, athletes receive a lot of money for playing for a specific team.  Some may play sports to get them into college because they would not be able to afford it otherwise.

*Sports are a big part of the modern economy, people invest in sports like stocks.  Stadiums/arenas make a lot of money that investors and/or the city may receive.  Are sports just a way to make money in a fun manner?
*Every city in the world want to host the olympics.  It's amazing what sports can do.  One city hosting the olympic games gets so many tourist and economic benefits and gets more publicity.  Sports are publicity.

*Sports are a whole lot more than just a game.  Without sports, there would be no broadcasting industry for people to watch/listen to and many sports journalists/reporters would be out of there jobs, furthermore hurting the economy.

*Sports are entertainment!  How many people watch the superbowl? A lot.  Advertising agencies invest a huge portion of there money for 30 second spots on this night just because they know that everybody is watching.

*On the other hand, some play sports to get out of the house or just have fun!  Many kids all over the world have trouble at home or their parents are fighting and just want to get out of the house.  High school sports are a good way to escape your normal life and leave everything outside of the field.

*People, generally, like that sense of competition and/or danger. It keeps them going and makes them feel like they are doing something fun, daring, or crazy with their lives.  Many play sports for this sole reason.

From this article, I have learned that sports cover almost every aspect of society and sociology, and I still have a lot more to learn.

Article: http://www.cengage.com/custom/enrichment_modules/data/0495598127_Sociology_of_Sports-mod_watermark.pdf

Are Asians smarter? (blog #4)

Life-long intelligence isn't just down to your genes

http://www.bionews.org.uk/page_118629.asp

When was the information published or posted?

January 23, 2010

Who is the author?
Linda Wijlaars

How accurate is the information?
The information was taken from researchers and the link came from a bionews database. The author talks about where she got her sources and quotes from.

•  nature and nurture both play a role on the achievements of 4,000 sets of twins.
•  a child’s environment will affect their learning as much as their genes
• children bring characteristics to the classroom that influence how well they will take advantage of the quality of teaching
• identical twins scored more similarly on their tests compared to fraternal twins who share only half of their genetic make-up.
• Tests that were given to people that scored pretty high on the intelligence tests shared similar SNP patterns
• Researchers from Scotland have found around one-quarter of changes in intelligence observed from childhood to old age may be due to our genes.
• 24 percent of the differences in intelligence between childhood at the age of 11 and old age was because of  genetic variations Such as variation in the APOE gene that is associated with late-onset Alzheimer's disease.

What is APOE?
Does environment of a child also play a role?

Why the Stock Market Crashed?

This is a picture of a chain store going out of business around the time of the 2008 stock market crash.

The market crashed because large companies who give mortgages, a debt instrument that is secure by collateral that the borrower must pay you back in a set of payments, would give people mortgages to people who couldn't afford them or to people with bad credit. They could always foreclose on the home, because a home is an asset and the value was increasing, but then people couldn't pay their loans and the home values were decreasing. On March 15, 2010 Bear Stearns, an investment back merged with JP Morgan Chase, and Bear Stearns lost 90% of it's value.  Dow Jones Industrial Average dropped from $10,831.07 to 48451.19 or 22.11%. Today at 2:43 PM it was at $12,977.04. When a large company gets a bad earning report, there is a bear market, most stocks go down. When the market is crashing investors fear and start to sell, which lowers demand and increases supply making the market go down.

http://www.money-zine.com/Investing/Stocks/Stock-Market-Crash-of-2008/
Stock Market Crash of 2008
The article said it's author was the title of the article, it didn't have a date of when it was written, and it said the information was coming from them. I did know some background information n the topic and it seemed to match with this article.