My Econ Essay #4

Megan Liston

Savannah Liston

Essay #4

November 5th 2014

Have you ever wondered what the first form of money was? Or perhaps you have wondered what ancient civilizations used as a form of payment. In the this essay I will explain and show a little of the things that people used to use as currency.

First, however, I will start by saying that ‘money’ does not only mean ‘dollars’, but it is a universal medium of exchange such as the US dollar, or the British pound, etc. It is important to remember this because we might be tempted to say that the US dollar is the only real money, but on the contrary, money has been around ever since the first people created a medium of exchange, a common form of ‘bartering’.

Now, I will go into depth on the different things that formed the early money and how exactly it started. Early American Indians used something called Wampum, a certain almost rare bead that they kept on a string about their necks. They realized even back then that in order to have a stable currency, it had to be something rare, something of value. The Europeans adopted this idea, but because of their more efficient production of Wampum, it became inflated and did not last long for them. Wampum are purple and white beads that were made from the quahog and whelk shells collected along the beach. They were then made into beads and used to trade for things. It was everything that money needed to be. It was easy to carry, scarce, and very valuable. The Indians were very smart people and their community worked well together.

Although the British pound seems to have come only from Britain, it was also highly used in continental Europe. Its value originally equated to the price of a pound of silver. Anglo-Saxon King Offa is credited with the introduction of currency to the Northern and central England in the 8th century when he oversaw the minting of the earliest English silver pennies. They varied greatly in size and weight, but it was only the beginning. It didn’t start only with him, however. The forming of money and currency does not begin with the government, but with the individuals.

The US dollar became famous when George Washington first minted it. But, it was only because he realized that they needed something that everyone valued and respected and something that was somewhat rare. Back then it was much more difficult to mint these coins so it was much more rare than it is now. But, after a time when it became easier and they got the system down, inflation suddenly set in. It took decades and decades before it reached the level of the famous Great Depression.

I think it is important to remember that the government is not able to force a certain currency on us. If the people do not value and respect the ‘money’ then it is not able to be used as a medium of exchange. Why would a store owner want to sell his things for something that he doesn’t even want? Of course he might still sell his things for something he didn’t want just so that he could trade it off to someone else, but still, that person might not want it either. There has to be a certain amount of respect and value put on something in order for it to work. Someone has to want that currency. In a society there is likely to be one or two goods which are commonly accepted. These are called a common medium of exchange. Even if some people don’t personally value the good, they will sometimes accept it in a trade in order to trade it for something more valuable. But you see, this is all based on the wants and values of the people. They will not act if they do not want to. Some people think that the government is the one that makes the currency, but I really do not think that it is humanly possible to make people value something, and since currency is such an important thing in an economy, it is very important to have something that everyone values. We have come very close sometimes to losing the value of our money and are, in fact, at this very moment drawing closer to a very inflated economy.

So end things a little, it is very important to realize that in order to have a smoothly running economy we must have currency that people value. Some things that a currency must have are, divisibility, portability, fungibility, high value per unit, and it must be naturally scarce. These things aren’t exactly necessary, but they have been found in the past currencies that have been used for a long time. Another important thing to remember is, no one invented money, it emerged from the cooperation in the market. F.A.Hayek termed this ‘spontaneous order’. This is a very exciting concept, we do not know where the road will lead, and we don’t know where we will be years from now. But as is pointed out in the term above, it is ‘order’ that is derived from this individualistic idea, not chaos. It is when the government comes into the picture and tries to change the way people think and their value scales, that things become chaotic and even tumultuous. The government isn’t the only one who can change the world, as Nelson Mandela once said, “Education is the most powerful weapon which you can use to change the world”. We don’t have to be great, just educated.  The best economy is one ruled by the people.

“Remember, the change you want to see in the world, and in your school, begins with you.”

― Joseph Clementi

My Sources: Wikipedia, my notes from the class, and quotes about people changing the world.

My Econ Essay #3

Megan Liston

Savannah Liston

Econ essay #3

November 20th, 2014

Private Property and Why It Is Essential To The Economy

        Private property is something that is very familiar to the individual. People buy signs to show that their land is clearly off limits to the outsider. But have you ever stopped to consider what a vital role this idea plays in the economy? In the essay I will be addressing the importance of private property and what would happen if this concept did not exist.

         Right now every square inch of land is owned by someone. Either someone is renting it, or the government owns it, etc. It is such vitally important emotion for humans to have something to call our own. ‘This is my home’, they think. ‘This is the place that I call home.’ What if no one owned anything? What if you could call nothing yours? We feel a sense of ownership and authority over our land or home. We can feel important knowing that we are taking care of our home when we work to beautify it. Everything we do, we do either for us or for our land. Like in the action axiom, we act only on three conditions, we have a need, we have the resources, and we believe that it will in some way benefit us.  People work so that they can pay the taxes on their land. They mow, rake, weed, etc, so that their land will look good. Their home might be a mansion or a ranch. It could be a shed or a shack. But no matter what  it is, it is their home; it is their refuge. In the midst of an angry and strange world, their home is a symbol of peace and comfort.

          What if there wasn’t such a thing as ‘private property’? What if we had nothing to call our own? Everything in sight, as far as our eyes could see, was an endless land of uncertain dreams reaching far beyond our sight. We knew nothing of what could have been ours, had we only realized why it was so important. As the world shattered around us, we had no where to go, no where to call home. Not only is private property important because it helps the individual feel a goal to life and a reason to live, it is also crucial for the economy. If everyone viewed everything as their own, then we wouldn’t buy things, we would just take them. Why would we trade money for goods if the goods really belonged to us already? We would have no boundaries or limits and mayhem and turmoil would reign. We would be forced to let anyone come and raid our home, and we would do the same thing. No one would know how to stop the rioting because no one would listen.

      Our economy hangs by a thin thread, the thread of private property. Without this, our economy would fragment. If our government upheld this concept more, we wouldn’t have the massive arguments and disputes over land. They would all be fixed if the land owner said what he wanted and all was left alone. But once the government enters the picture, things change and suddenly we don’t own it anymore. We would live in harmony because everyone would have perfect control of their land and there would be no need to steal and start disputes.

     So, to end, I want to stress the point that without the concept of private property our economy would shatter and we would be left in a world full of chaos and uncertainty. Humans need a sense of certainty and routine. Private property is vital to the survival of our country.

My Sources: http://schoolhouseteachers.com/category/teachers/history-geography-and-social-studies/economics/free-market/    

My notes from Free Market Economics.

My Econ Essay #1

Megan Liston

Savannah Liston

Econ. Essay 1

November 6th 2014

      Why Economics Is Important For The Individual

Economics has always existed since the beginning of the world. From the first trade between the first humans all the way to the competition of the worlds biggest industries. It is the very core of our world. Many people choose not to learn about this important key to life, but they live in ignorance, with no clue to what is going on around them. They can see the impact that economics has on their small world, however, they have no idea why things happen. So, why is economics important to us in our everyday lives?

Economics impacts the choices we make everyday. The prices of our groceries influences what we buy and the rise and fall of the stock markets influences the choices we make when looking into buying something. There is no way to get around this and yet, there is a way to study economics so that we can be prepared when things go downhill. It is about a real world! It isn’t just some theory that men came up with, something that doesn’t apply to us. It is real and it will help us to understand those around us once we know their motives and reasons behind their decisions. We make decisions all our lives, all day long. But do we always know why? Economics is such a key thing in our world because the government is always trying to shut us out of their secrets. They treat us like we aren’t actual people, like we don’t have brains. Do we want to be treated like that? Will we settle for ignorance? Or will we stay on top of the government's repeated lies?

Economics isn’t all about the government though. It pertains to our everyday lives as well. It isn’t hard to understand either, so why not take the time and learn about the core that your world revolves around?  I have found it extremely interesting to learn about the common and simple things that make up the heart of economics such as value scales and scarce resources and many other things that we so often overlook. Have you ever stopped to think why you took a certain action? There are so many questions that can be answered by the simple facts of economics. Our economy is nothing like when our forefathers created it. But why? Laws have been changed, debt has grown to a peak, and inflation has increased immensely. Some of these things can’t be changed, but as individuals we strive for a better economy by learning more about our country. Economics is something that I think we should all learn and know something about. We might not be as learned in it as other great economists, but can take the first step and learn and memorize the things that hold our nation together.  

Take, for example, inflation. You notice when the prices of your groceries go up, but do you know why? Perhaps you blame the owner of the grocery store. But, on the contrary, it’s the government. They are steadily printing more money so that the economy is so full of it, that each dollar becomes more worthless. Pretty soon, the employers have to raise their prices so they can stay in business. It might seem like a very simple example, but really it is very fundamental to the growth of our economy. Without knowing these things, you would probably blame that specific store and try to find another one with lower prices. But, as the economy goes downhill, you wouldn’t be able to find one that had the same prices as before.  

So, to help you understand how utterly important economics is in your life, I will end with this. Without proper knowledge of economics, the right and wrong economy, we have no way to truly know how our government is supposed to be acting, and we won’t know the reasons and motives behind the decisions and choices that we we make as individuals and as a nation. We need to become more aware of the things going on around us so that we can better understand ourselves, our families, and our friends. Don’t be left in the dark on this subject, make an effort to learn more about economics.    

My Sources:

http://schoolhouseteachers.com/schoolhouse-teachers/free-market-economics/

My notes from Free Market Economics

History :)

So, I'm studying ancient times for my history and I'm up to the Romans! I really like the Romans cuz they seem so cool and stuff :) I got my parents to watch The Eagle with me last night and I really liked it. It had a good sense of betrayal and loyalty. I really liked Channing Tatums acting (he's pretty cute too!), it was just all around pretty good :) During the movie I turned to my mom and was like "wow! he's not too bad looking!" and she just started laughing and said, "now don't start talking about him. it was somebody else just a while ago!" haha! she knew that he was cute :) Both my parents liked it... and that is something REALLY big! my dad actually stayed awake through the whole thing! Whoa!

My Geology Essay

Megan Liston

Patrick Nurre

Geology Of Our National Parks

November 6th, 2014

Petrified Forest National Park

Petrified Forest National Park is located in part of the Colorado Plateau. It is an eerie, rather unsettling place. With scattered branches and massive pieces of wood, it feels almost like a graveyard. It is, however, an amazing place to observe God’s creation in the most small and insignificant things, dead wood! There are many small elements that hold this masterpiece together. The wood has been preserved as a result of chemical saturated solution which seeps into it and replaces the wood with the chemical agite and silica. It all works out so perfectly and yet so unnoticably. It is truly a miracle that these logs have been preserved over such a large amount of time.

The park was made into a national park in 1962. No one knows exactly who first found this park, but archeologists have found the remains and ruins of some ancient civilizations within the park. So we do know that the park has been around since one of the first tribes came to America. We can’t say for sure who first made this park known but the first publication about this place was from the Whipple Expedition of 1853, in a book by artist/naturalist Balduin Möllhausen. In 1853 Whipple led an expedition out west to explore the land. They came across this area and Whipple was so empressed with it that he named it  Lithodendron Creek (Stone Tree Creek). Later, a wagon road was built that used camels for experimental use. After that, stagecoaches and wagons often came through that area. Many families set up a homestead and began cattle farms. Ever since then it has become a renowned place where people go to enjoy the amazing scenery and mysterious beauty.

The park is made up mostly of sedimentary rock. Sedimentary rocks are rocks that are formed by the deposition of material on the earth’s surface. They are formed slowly over time when particles form together. There also plant fossils that are abundant in the park for example: teeth, scales, bones of extinct species of fish, clams, amphibians, and dinosaurs. It is a great reminder of the world wide flood since you can see the remains of ancient animals and people. When the flood waters came rushing through the park, it mixed with the silica rich soil. Then when it beat down the trees, it filled them with the silica which has preserved them to this day. Petrified Forest National Park had at one time been a dumping ground for the past watery event. This park is similar to the more well known park, the Badlands. These both have a very mysterious feeling to them, and the look much like very ancient ruins.

Men have always tried to make excuses for the strong proof of the flood, such as Charles Lyell. He began his campaign against a biblical view of nature. It was called  uniformitarianism. Saying, “The Present is the key to the past”, he tried to disprove the proof that was constantly around him. However, there is no way that we can disprove this strong proof shown in the Petrified Forest National Park.  

My Sources :

http://en.wikipedia.org/wiki/Petrified_Forest_National_Park#History

My notes from Geology Class

The Hobbit in depth

This is an essay that my sister Emma wrote and I wanted to share it because I really liked it! She did a great job :) Btw, here is her blog if you want to check it out - http://emmalouiseliston.wordpress.com/

Emma Liston

Professor Comer

English Composition I: Achieving Expertise

October 20th, 2014

                                             Fantasy Fiction: “The Hobbit” in Depth

     “The Hobbit” is a uniquely told and inspiring story; a story of brilliance, bravery, and battle. It was written by J.R.R. Tolkien and published in 1937. Preceding “The Lord of the Rings”, it’s role was invaluable in capturing the reader's’ attention and introducing the key characters. Fortunately for the many people who enjoy entertainment, the book was made into 3 movies, the last of which has not yet been released. Oftentimes though, movies present a misleading representation of the book. But aside from a few differences, the Hobbit movies have formed memorable characters based on Tolkien’s book, becoming enthralling to many around the world. The image above is a scene from the 1st movie, the start of many adventures.

    This essay will analyze the image, discuss the context and theme surrounding it, and define expertise through the image.

   The scene is a vibrant rendering of the cozy Hobbit hole in which Bilbo Baggins lived and the entire quest began. The walls are covered with neat shelves, and the shelves covered with rare articles of sentimental value:

     “In a hole in the ground there lived a hobbit. Not a nasty, dirty, wet hole, filled with the ends of worms and an oozy smell, nor yet a dry, bare, sandy hole with nothing in it to sit down on or to eat: it was a hobbit-hole, and that means comfort.” (Tolkien, The Hobbit, 1)1

    The content of the image depicts two totally different people, people with different expressions on their faces and obviously, different priorities in mind. To be more concise however, neither are people, they are a hobbit and a dwarf. A hobbit is a small 4-foot tall creature, similar to a very short man. But their ears are bigger and pointier, they always have curly hair, and their feet are big and covered with hair. They are very habitual creatures, and as the background in the image shows, they consider every useful or unuseful item valuable. Dwarves, however, are very gruff, short, stocky, and hairy men. They prefer to fight and don’t care for sentimentality. The dwarf in the image is correctly depicted, as he finished eating and is banging his fork on his plate for a second serving.

   There is a repetition of symmetrical shapes in the background, making the house look well cared for and neat. The contour of the doorway arch on the left also matches the shape of the shelves behind the hobbit and dwarf, and though it is only suggested, the fireplace is also an arch. The composition of the image consists of many cooking articles, such as the numerous pots, rolling pins, jars, and silverware. Hobbits are known to spend their lives growing and saving food, especially since they usually have six meals a day.  

  Realizing that this is a scene from a movie, we can imagine that beyond the frame of this picture, there is a movie crew, perhaps smiling as they watch Bilbo’s facial expressions change. Maybe they are getting things ready for the next scene, or even fixing things inside the set. This leads us to examine the context of the image.

   It was late in the afternoon, and Bilbo’s first surprise visitor, Dwalin the dwarf just arrived. Taken unawares, poor Bilbo didn’t realize what was yet to come.

    “He hung his hooded cloak on the nearest peg, and ‘Dwalin at your service!’ he said with a low bow. ‘Bilbo Baggins at yours!’ said the hobbit, too surprised to ask any questions at the moment.” (Tolkien, The Hobbit, 9)2 Following this, he offered the dwarf some tea and cake, which considering the following events would be unfortunate for the hobbit. “He had a horrible thought that the cakes might run short, and then he-as the host: he knew his duty and stuck to it however painful-he might have to go without.” (Tolkien, The Hobbit, 10)3

   As Bilbo was pondering what to do with the strange dwarf, another knock came on the door, and not used to having visitors, he quizzically ponders the situation. His feeling of complete surprise is written all over his face, as he hears the dwarf asking for another heaping plate of food and the sturdy knock on his door. This is the story behind the image.

   Some questions could be asked at this point, like “how is expertise defined in this image?” Or, “is there a deeper meaning beneath this image?” In this image, I see that expertise is being defined by habit, frugal spending, and the general priorities depicted. For example, he has saved years of food in his home, but since his home looks neat and orderly, it stands to reason that space for food is a priority to him. Perhaps to Bilbo, he would consider expertise in a practical way, so that instead of creating artwork or changing his home decor, provisions for future needs are more important.

     In conclusion, there is definitely a deep undertone beneath this image. If you have read “The Hobbit”, you know that a few days after this scene, Bilbo starts out on a life-threatening journey with 13 dwarves and a wizard. The picture shows Bilbo before the spirit of adventure was revived in him and before he was willing to lay down his lives for others. He was a boring creature of habit, blaming his love of homelife on his ancestors. But when faced with a chance to change the world for good and make someone else’s life better, he realized the truth. Even if we feel insignificant, there can be a moment in our lives when we realize that life is important. Our lives don’t have to be spent pleasing ourselves, because the richest time in our lives can be helping someone else. Great people have started small, and that’s the important concept.

                   “All we have to decide is what to do with the time that is given us.”4

                                       Gandalf the Wizard, The Lord of the Rings

My History Video :)

Here is a video that I made for my ancient history :)

My Finished Essay

Every fantasy story has something in common- a world full of mystery and magic, and where courage and love always fight to the death. A classic work that exemplifies this style is The Lord of the Rings by J.R.R Tolkien. After recently reading this, the intensity and skill of it has amazed me once again.  

This trilogy is an astonishing and epic story, tracing the lives of individuals whose journeys changed the course of history. For years evil lay brewing underneath Middle-earth while peace had reigned over the land. But war and evil threatened to subdue this peace as the trilogy begins. Some resisted the passion of war like the Elves who lived quietly. But others who wanted order found war instead. In the small town of Hobbiton lived a Hobbit, Frodo, small in stature, but tremendously brave. He lived with his uncle and enjoyed the comforts of the small town, until peace veiled it in darkness. One day he was faced with the dangerous mission of taking the One Ring through the dark wasteland of Mordor and casting it into Mount Doom. The mission depends on him, and he must destroy it or all of Middle-earth will perish. He began his journey with a few faithful friends who left behind everything they loved. In the perilous adventure danger lurked behind every corner as the powerful wizard, Saruman, unleashed his brutal force of evil.

Meanwhile, Aragorn, Legolas, and Gimli, a Man, Elf, and Dwarf, respectively, fought furiously to overcome Sarumans growing legions. They all survived, however, because they had an undying determination to defend Middle-earth. As Gandalf the good wizard said, “It is not despair, for despair is only for those who see the end beyond all doubt. We do not.”  Samwise Gamgee was the only Hobbit who went to the end with Frodo — once a gardener, now he was a valiant friend. As they stood on the brink of the volcanic Mount Doom, Frodo struggles to give up the Ring, the only key to ruling Middle-earth. Sam pulled him back from the brink of death and enabled him to complete the mission. When the mission was completed they were reunited in Aragorn’s new kingdom and enjoyed victory over the darkness.   

This story represents to me the constant battle we have in the world around us. Even though it doesn’t show up as dark and evil, sin is always around seeking to devour and change us. We must fight it just as these gallant men prevailed against the darkening evil. I liked the book because it made me feel like I was there —fighting for my world and my people. They sacrificed everything they had for the ones they loved and we should be willing to do that for our Heavenly King. We should also strive to be more like Sam, never abandoning those we’ve promised to help. It is a book that I would highly recommend to anyone.