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Campus Pinpoints Details in Occupy

Students from Edinboro University and Mercyhurst College discussed the humane conservative viewpoint of the Occupy Wall Street Movement with Dr. Michael Federici, from the political science department at Mercyhurst, during a panel discussion in the R. Benjamin Wiley Arts & Sciences Center on April 5.

“The problem when we’re general (in our discussions) is we miss the subtleties that allow us to see similarities between things that are seemingly different,” said Federici in his opening comments.

Federici said that humane conservatives tend to take the word “conservative” seriously, in that they believe there is something worth preserving and conserving.

For example, the integrity of the community is important to conservatives and in relation to the Occupy Wall Street Movement, there are several areas of common ground that Federici pointed out.

Concentrated economic power is seen as destructive to local communities, Federici said.

“I’ve seen over the course of decades, small family-run businesses be replaced and forced out by big, giant corporations,” said Federici. “We would call that the ‘Wal-Mart Problem.’”

The Occupy Wall Street Movement claims that they are fighting against the combined power of major banks and multi-national corporations and their influence over politics, Federici said.

Yet, Federici said he doesn’t agree with the way that the Occupy Wall Street Movement demonizes the tens of thousands of people that work there.

“That is precisely the kind of language that I think polarizes politics and discourse,” Federici said.

The idea that it’s possible to transform the entire world is another example of language use that Federici doesn’t agree with. “The very talk of massive, wide-sweeping change is unrealistic and likely to do more harm than good,” he said.

“I think it makes more sense to focus on smaller, local goals that are attainable and to stay within your own community, first and foremost, when it comes to political reform,” Federici stated.

Federici also didn’t agree with the idea that more democracy is better. When we talk about rights and democracy, Federici said, I think you’ve lost touch with how the real world operates

“Political action requires a certain degree of intelligence. Not only intellectual intelligence, but practical intelligence that comes with time and maturity,” said Federici.

In response to Federici’s comments, Sean Fedorko, a recent graduate from Mercyhurst who holds B.A.’s in both Political Science and Philosophy, said that he agrees with what Federici said.

The Occupy Wall Street Movement wants localization and empowerment, Fedorko said.

So, thinking about empowerment in relation to self-interest, Fedorko said, “this is the kernel that really rests in the similarities between humane-conservatism and OWS and maybe (can show) how… these two groups are advocating a very similar goal from very different means.”

The people involved with the movement are advocating a way to regain power because they see an imbalance of power, said Fedorko.

“They seem to be failing, however, due to their knee-jerk reaction to political, economic and social institutions that are failing to foster the good life for the majority: the 99 percent,” Fedorko pointed out.

I think that if the activists were to articulate that what they’re advocating isn’t to seize control of Wall Street and punish them, said Fedorko, but trying to reintegrate Wall Street “as individuals who have sort of lost the way to a community that we all need to foster.”

Brian Barton, a senior majoring in Political Science at Edinboro University, responded next by saying that one of the unifying characteristics of humane conservatism and the movement is the skepticism toward the government.

The problem that conservatives had with the bailouts in 2009 was the government interference in the market, Barton said. They felt that the government was deciding who would be the winner and the losers rather than just allowing the marketplace to decide.

The government intrusion in the marketplace has extended our current economic drought, said Barton, and that’s why I find myself supporting some of what the movement is advocating.

Suzanne Boone, an undergraduate majoring in sociology at Edinboro University, has had a personal experience with the Occupy Wall Street Movement and, in her response to Federici; she said that it’s important to have these conversations in order to get different perspectives on the issue.

“We all have a common thread that holds us together as human beings,” Boone said. It’s all about having respect for the other person and holding that conversation with them about their views and what they’re going to do about them.

“Every single person has to be responsible for the decisions that they make,” said Boone, “and to change the things that they can change within their little area.”

Anna Tielmann (Taken from The Spectator Vol. III, Issue 23) 

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PNC Spokesman Explains Economy

Last Thursday, February 9, students and faculty attended a presentation given by one of PNC Bank’s spokesmen, William Adams, on the current recession in Europe and what it could mean for the U.S. economy.

“We’re not on the same level as Europe in terms of national debt. But the reason we don’t have the same crisis that Europe is having right now is because we have coherent national economic policy,” said Adams.

This policy allows for the federal government to use tax money collected from other states to keep the economy from collapsing completely in another state, said Adams.

Europe has a different economic system called a currency union, where 17 countries share the same currency, but are not under the same government, like the U.S., said Adams.

Adams went on to explain that being a part of a currency union requires the countries to agree on a common fiscal policy, which is how much money the government spends and how much they can collect for taxes. A common monetary policy, which sets the interest rate for an economy, is required as well.

The European economy is going downhill because taxes have gone up, the government spending has gone down, and a lot of government workers have been laid off. “That is probably two-thirds of the reason why Europe is in a recession right now,” Adams explained.

The other one-third of the reason is the investors. “The big issue right now is the banks,” said Adams.

As debt prices have gotten worse, European bank stock has lost about 60 percent of its value. “The higher you are in debt, the harder it is to borrow money,” said Adams

Some economists say that the European recession is just a passing thing and the euro should return to its normal value by the end of the year. “I’m a little more pessimistic about that because… it’s not because of a business cycle, or because the stock market went up or went down. It’s because the institutions they have don’t work,” said Adams.

Unemployment rates also reflect the condition of the economy. In Spain, there’s a 23 percent unemployment rate, which means that about one out of four workers aren’t able to find work. The rest of Europe is at about 10 to 15 percent unemployment.

In comparison, The PNC Northwest PA Market Outlook report says that while manufacturing industries have cut jobs over the years in the U.S. and younger residents have left northwestern Pennsylvania and other states in search of faster growing job markets, the job growth across the country has been encouragingly stable so far through the recovery.

According to The PNC Financial Services Group, “the job growth will average about 140,000 per month in 2012, adding up to 1.7 million new payroll jobs over the course of this year.”

“Our expectation is that we’re going to finish the year with unemployment under 8 percent,” Adams said.

While the U.S. is going to take a small hit from the recession in Europe, our coherent economic policy will allow our unemployment rates to lower and the labor market is starting to show signs of recovering

 “Our debt problems are just as serious as Europe’s debt problems and our deficit is nearly as large as the deficit of other European governments,” acknowledged Adams. But the reason we don’t see the effects of it is because we have a better monetary policy and an independent currency, he said.

“We’re showing signs that we are on our way to recovering from this terrible recession that we’re now finally getting out of,” said Adams.

Anna Tielmann (Taken from The Spectator Vol. III, Issue 16) 

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Book Buyback Prices Decrease, Rentals on the Rise

While the bookstore is paying them for their textbooks, students say that they feel as if they were cheated and weren’t getting their full money’s worth.

“The price that they charge and the amount that they give back to you for your textbooks is ridiculous,” said Kayla Sexton, a senior majoring in Health and Physical Education.

Having always bought her books through the campus bookstore, Sexton says that it’s like returning a book that you paid $145 for and getting only $50 for it. “Your best bet would be renting them because you’re buying the books anyway and it’s a lot cheaper,” she explained.

Olivia Chapman, a sophomore majoring in Political Science, also said that “textbook buyback feels like a rip-off.” For example, she said that she had bought a psychology communication book and wasn’t able to sell it back.

“You never get all of your money back and it does seem kind of unfair,” agreed Brett Beshero, a senior majoring in Print Making.

“I really only need two books this semester, so it’s not too bad buying them from the bookstore, but I normally end up using Chegg or Amazon.”

Raymond Fisher, the manager at EUP’s campus bookstore, says that he understands where a lot of the confusion comes from.

“It used to be very cut and dry,” he said. If there were a book that we could re-sell for next semester, we would pay the student half of the new book price.

A factor in the process that is a major influence on the buyback cost is the wholesale companies, like Missouri Book Systems (MBS). Fisher explained that these companies take the books that the bookstore doesn’t need and distributes them to other colleges all across the country.

“The price that the wholesaler pays [for the textbooks] is flat out supply and demand,” said Fisher. “The confusing part is that a lot of people think we buy back books for $10 and then turn around and throw them on the shelf and sell them for $75. That’s not what happens.”

Fisher explained that the school does buy back a certain number of books for resale.

“You can well imagine the confusion that occurs when you as a student come in and I say, ‘I’ll give you $8 for that book,’ and you say, ‘My roommate sold that book back to you guys for $20. How come I’m only going to get $8?’ Then comes the explanation: ‘Okay, I needed 10 books and we were paying $20 for them. Once we hit the limit at 10, the book now goes wholesale [which is only paying $8 for that book],’” explained Fisher.

The money students get back for their textbooks also depends on whether or not the bookstore had purchased those books from a cheaper source online.

Verba Software, which is the new comparison tool available on the website, has two parts to it: the comparison component, which allows students to see prices from the campus bookstore as well as from Amazon, Half.com, and other sources, and a back office program, which allows Fisher to buy books from cheaper sources.

Verba Software has helped to increase Fisher’s online sales because he has been able to use it to compare prices of other online vendors and then align his prices with theirs. 

Plus, now that the bookstore is renting more books instead of selling them, buyback is a lot smaller than it used to be, said Fisher.

The influence of renting books can be seen in a comparison of book buybacks from year to year, Fisher said. 

In the most recent buyback, which was December 16, 2011, the store bought back 9,300 textbooks. In 2010, 10,000 were bought back.

Last semester, the bookstore rented out 1,440 books and those books are paid for upfront by students at the beginning of the semester and then returned at the end. 

Fisher factors in what the book will be worth by the end of the semester into the rental price, so students only have to pay one solid price.

“[Book buyback] is really waning,” Fisher explained. “It’s more about rentals now. It’s more about price comparisons. It’s more about lowering your prices and making it as close to the market price as you possibly can. By default, students are going to deal with us because we offer convenience. You can come in here and get all of your books at one time.”

 – Anna Tielmann (Taken from The Spectator Vol. 3, Issue 15, February 9, 2012)

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