Chapter 2 - The supply and demand for organs

Aricle Source: http://www.economist.com/world/international/displaystory.cfm?story_id=12380981

CH.2 SUPPLY AND DEMAND

SUMMARY - A market for organs !!!

This article talks about how the demand for organs has outstripped its supply, and that the World Health Organisation (WHO) and many other countries are deciding on to pay an incentive for people who are willing to donate their organs on their death. The article also stated that researchers and statistics have shown that last year, more than 7,000 Americans died while waiting for organ transplants - almost double the number of American soldiers killed in Iraq since 2003. In Europe, too, thousands of people whose lives could be extended or transformed through transplants, but the lack of its supply just forfeited their opportunity.
The article also talked about how we should learn from the Iranian, where the highest living-donor rate is in the world—23 person per million. It is also the only country where offical donor's compensations for the loss of earnings during transplant surgery and the time spent for recuperation is covered and authorized. Iran began paying their living donors in 1988, just 11 years later it had eliminated its kidney-transplant waiting lists—a feat no other country has achieved.

CHAPTER CONCEPT

In chapter 2, we learn that supply and demand work together in conjuction in order to form a market. A market is a place that allow interactions between buyers and sellers for the purpose of making an exchange of goods or sevices and esetablishing a price for them. In this article, the market exists for the goods of organs, and the waiting-list patients are the demand side, while the organ donors are the suppliers. In the article case, we know that the demand of organs for transplant is high, while the supply for them are low. In these situations, we can say that the price elascity of demand for organs are very close to perfectly inelastic, because people whom are very in need of the demand (organs) would be willling to pay at any price in order to acquire them; taking that all the affecting factors are constant. And of course, the price elasticity of supply is elastic, because being a valuable supply, the organ donors (suppliers) can choose to or not to donate their organs on death depending on the amount of compensation they are able to receive. But there are exceptions to this, where a person's belief or religion restrict them from doing such act, or that the person just don't want to... Period.

PERSONAL REFLECTION

After reading the article, I thought that it was pretty silly that the government has to draft incentives in order to make people donate their organs on death for others who are in serious need of them. Though I could think of some reasons that why some people wouldn't want to donate their organs because of their religion or that they are afraid that someone might try to assisin them for thier organs. I don't want to be too judgemental here, so I'll just leave some insights on what I think: I think that if we were a little bit more open-minded, and put others first instead of ourselves, we should understand the fact of how still-working organs are worth a lot more on a living person, than the dead. Imagine if that was you or someone that you loved and cared most, would that change your mind a little? Mmm.. think about it, if you could still contribute to someone's life after your death, wouldn't that earn you some great karma up there in heaven :P

Chapter 1 - Study Cites Flood of Solutions for Water Scarcity

Article: http://www.sudanvisiondaily.com/modules.php?name=News&file=article&sid=14916

SUMMARY

This article talks about how there are a lot of ways to solve water shortages issues around the world. It urges policy makers to take a strong stand in helping to sustain the water we have right now; and for future generations. Public concerns in the world-wide water scarcity will make its way to a predicament in the future if we, the consumers, are still sitting around, and blaming each other, The report in the article states that 1/4 of the world's population live where water is naturally scarce (particularly in Asia and North Africa), therefore causing groundwater levels to decline and rivers to dry up. It also highlighted how Agricultural industries, one of the principal users in water consumption, can decrease their expenditures through low-cost technologies,such as irrigation improvements.

CHAPTER CONCEPT - SCARCITY

In the textbook, we learn that the economical term from Scarcity is anything that is available only in a limited supply. Therefore, societies have to make decisions on as to how to utilize or allocate these scarce availabilities, and those decisions are up to us, the consumers (or the government) to decide upon through thorough thoughts, planning, voting, and actually doing it. This article discussed about the growing concerns in global water crisis, and how there should be A LOT of ways to deal with it by means of the everyday technological advancements and outbreaks. With the 'inadequate; water supply on hand, we have to make our choices carefully: the way we eat, use, and build are all very important contributing factors to the sustainability of our water market.

PERSONAL REFLECTION

Some of my personal thoughts: the main reasons behind water downfall are due to the unstable population growth, major cities urbanization and rising temperature. In my opinion, there are a lot of investment opportunities in water supply infrastructure, waste water treatment, and demand management technologies. However, much less attention is pay to the risks it makes during its production processes. No matter the amount of solutions out there, there will always be a side track to them; but what matters most is our lead in making the effort to save our Earth, and to do what needs to be done, even if it takes one step at a time.