Back to the Future Nikes auctioned for charity

Last week Nike began auctioning off their special edition back to the future nikes on ebay. As seen in the Back to the Future part two; these shoes have LED lights through out the sole, heel , and instep. Their official name is nike MAGs and they will be auctioned off on ebay everyday through september eighteenth. The bidding starts at only $0.99 but if you check here the bids are rapidly increasing. All proceeds go to the Michael J. Fox Foundation to help those with Parkinsons Disease. Nike has seemingly engineered this event perfectly. Nike is a signature brand heightening the paradox of value in their favor. Also heving only made 1,500 pairs Nike has added scarcity to the equation; further heightening the value of the shoes. Lastly they made the event an auction which allows Adam Smiths theory of competition to further heighten the bidding. So far this event has been a huge success and there is still plenty of time.

Apple vs. Samsung

Three days ago, Germany's Dusseldorf Court announced it's decision on whether the Samsung Galaxy Tab 10.1 should be banned in Germany. The tablet was banned because Presiding Judge Johanna Brueckner-Hofmann believed that "Apple’s minimalistic design isn’t the only technical solution to make a tablet computer, other designs are possible". The verdict surprised many, as what Apple wanted seemed quite severe. This verdict could possibly spread to other countries in the European Union, not just for the Galaxy Tab 10.1 but maybe all other tablets that use to the same basic design. This would give Apple a monopoly in one of the biggest tablet markets in the world.

http://9to5mac.com/2011/09/09/wow-apple-actually-got-samsungs-galaxy-tab-10-1-banned-in-germany/#more-92058

20-Foot Crocs are Just Tradition

The Manila region of the southern Philippines is home to some of the largest saltwater crocodiles on the planet. This past week a 20-foot, 2,370 pound crocodile was captured out of the fear from a local village. Crocodile hunting is a big role in this traditional system as the hunters laid their traps, caught the croc, and then transported back to the village. A classic example of hunting and gathering that has been taught down through the generations in this Filipino village. Although today these crocodiles are on the endangered species list and are not allowed to be hunted without permission for reasons such as fear or humans getting eaten. This is strange to think that crocodiles have so much power and force in this part of the world because in the U.S.'s mixed economic system either the government or the people out of competition would have devised some way of ultimately controlling these crocodiles.

The demand for one of these crocodiles is most likely very high in this Filipino village because of how much meat the crocodile produces. As the Filipino village mayor said the whole town showed up like it was a 'feast'. Also producing such large findings of these crocodiles may attract people to come to the Filipino village. The more people coming to the village, the more money is coming to the village, and one day maybe advancing the Filipino village into a more complex economic system.

http://www.foxnews.com/world/2011/09/06/filipinos-hunt-even-bigger-beast-after-1-ton-croc-catch/

Wildfires sweep across Texas

There were more than 70 days of 100 plus degrees in Texas over the summer, and only few of rain dropped during those days. Because of the extreme weathers, wildfires happened many time in Texas and it has destroyed over 1000 homes and four people were killed from the fire. The worst of the fires is at Bastrop County Complex fire, already destroyed 550 homes and other properties, 5,000 people evacuate from their house. Everything they lost in the fire need to be rebuild by the owners or find other place to live which would cost a lots of money for both victims from the fire and the state government. Days when there are no rain also meant the water supply on the daily bases is decreasing day by day, and the value of water would go up. Everyone will buy the water from the store if the water supply to the house is cut off which will let the price of water go up. If there are no enough water for the people, the local government will have the limit the water supply so everyone could have limited of water. More than 3.6 million acres were burn down by the wildfires in Texas and cost over 5 billion damage to the state’s agricultural industry. Rains can bring the water for the people and plants and also help to put down the wildfire which haven’t happen in Texas. The wildfire has not only destroy the house but also the livestock of the people and killing people and costing billion of money from the governement.

Nike Air Force 1

Nike is one of the few companies to ever not have their finances go into the red. They changed their name to Nike from Blue Ribbon Sports in 1978. Four years later, Bruce Kilgore designed the Nike Air Force 1, the first basketball shoe to ever feature air technology in it's sole. This one shoe (offered in three different stylings: high, mid, low), along with Air Jordan series, and the Nike Air Max line are the biggest reasons of why Nike's finances have never gone in the red. The AF1 was released with no advertising and was initially seen as a failure, it was only produced for a couple of months. In the late 1980's and early 1990's the shoe was rereleased, around the same time that Air Maxes and Air Jordans were at their peak. In the 29 years since the shoe was originally released it has raked in over a billion dollars for Nike and in 2005 it was estimated to have a profit margin of 70%. Not only that but the Nike hasn't spent a single cent on advertising the AF1. The Nike Air Force 1 is still being produced and worn today. It's regarded as one of the most significant shoes in sneaker culture.

Example of Our Economic System

An article in the Fort Worth Star Telegram had an example of our economic system in action. Our mixed economic system borrows many ideas from the market economic system. The difference between systems being that monopolies are illegal and that the government can intervene if deemed necessary in a mixed system. In Fort Worth a hotdog vendor was accused of having a virtual monopoly; owning the rights to 5 locations. She mainly used only 2 locations; the others were only profitable during certain circumstances such as events. The local government intervened and forced the auction of 3 locations. However the vendor was already on the decline. This auction was the final blow in the vendors business and she was forced to close. The mixed side of our economic system crippled her business and its market roots offered no assistance in her closing. Though rather depressing this is still a good example of our economic system.

Lasers Used to Control Rain

Scientists in Geneva experimented with infrared lasers over the Rhone River, and discovered that the beams could trigger the growth of micron sized water droplets that eventually could turn to rain. Though if too many droplets form in can be ineffective because then no actual rain drops would form because all the moisture in the air would be used up through the micro droplets. The use of infrared lasers to produce more rain would be a huge technological advancement in the United States. For example if the U.S. was producing at maximum efficiency in agricultural output we could use these lasers to bring more rain to the dryer regions throughout the South West or even in the Mid West. Therefore increasing our agricultural mass production through technological advancements. Also these infrared lasers are predicted to bring on competition between different regions because of the ability to steal the moisture out of the air, and thus not allowing the natural cycle of moisture to take place in the next region. This could be good and bad for the U.S.'s mixed market as it can bring on more competition, but it could be more hurtful than helpful to the current system if abused. These infrared lasers are ground-based systems allowing less costly use, and easier use. This could be helpful to a region by increasing its efficiency while still keeping costs down. Overall these rain-making infrared lasers could be a tool of economic utility anywhere in the world.