Question 1 According to the article, the next-best alternative use of time when for some fishermen in Indonesia is turning to piracy. Since the fishing and piracy are similar activities, these two activities will have the similar marginal cost, however the poor weather conditions may decrease the marginal cost for piracy, because the poor weather conditions provide a cover to the pirates and make them can hijack ships easier. And if weather conditions are unsuitable for fishing, the marginal benefit will decrease due to the decrease in the number of fishes captured each net. But the marginal benefit for piracy isn’t influenced by the weather. Therefore, the rational decision makers will seek another source of income when the marginal …show more content…
As the negative externalities appear, tax can apply. As the graph shown, people maximize their welfare where PMB = PMC. By applying the tax of P0 -P2, the supply curve shifts to SMC and price rises from P1 to P2, People will now consume less, as the quantity decreases from Q* to Q**, the negative surplus (shaded area) will decrease, thus, the social well-being increases. c)As a criminal organization, government regulation will have no effect on them, so they will ignore the regulations instead of comply, so the private marginal cost of Mafia running an illegal sector for gambling will not be increased to the social marginal cost, so the negative externalities will still exist, the social well-being will not be maximized, and the lower price than other legal gambling house (because Mafia does not subject to this tax) will give gamblers a incentive to participate the gambling market ran by Mafia more, the quantity of gambling will exceed the efficient level. Therefore, the existence of illegal sector for gambling will decrease the effectiveness of the government intervention. d)The market of gambling is already in an efficient level with government taxes, further government regulations of reducing the number of the gambling machines can only reduce the social well-being. There will be a decrease in supply, so the supply curve shifts inward, as a result, the equilibrium price will increase, and because the demand for gambling is relatively inelastic
“After the 1890 season, the Pittsburgh Alleghenys signed several players from rival American Association teams- including the Philadelphia Athletics star second baseman Lou Bierbauer. The Philadelphia team loudly protested the move, complaining to league officials that the Alleghenys’ actions were “piratical.” The Alleghenys made sport of being denounced for being “piratical” by renaming themselves the Pirates for the 1891 season.” Pirates have had a strong presence throughout the ages; their presence has often garnered acknowledgment from governments- both foreign and domestic. For the most part, pirates are more real than ninjas based upon their presence and the acknowledgment of their existence by governments throughout history.
Blackbeard was a brave and most outspoken sea rovers who operated during early 1700s in the coastal regions of the English Southern parts of the New world. His piracy activities, together with his co-pirates are key sectors in United States of America’s history. Happening in the time eminently known as the golden age of piracy, their brave advances in sea robbery facilitated the gradual demise of sea hijacking and theft on the deep seas.1
Clearly the people who benefited most from gambling laws in New York City and Atlantic City were the criminals and crooked politicians. However, those cities weren’t isolated cases, just some of the most extreme examples. Horse racing, along most every other form of gambling, was banned in most states in the early 20th Century. Yet, the ban on horse racing didn’t curb public demand. For decades, one of organized crime’s most prized assets was the “race wire.” That was a telegraph service that sent updated horse racing information so that gamblers could bet on races from anywhere in the
From a jurisdictional standpoint, the most egregious error on the part of the court was the prosecutions failure to charge the defendants with piracy in the indictment. Since the commissioners established the court, and drew their authority to try the accused, from the Piracy Act of 1700, this oversight threw the legitimacy of the entire proceedings into question. The fact that the men standing before them were pirates seemed so certain to the commissioners, they did not bother to charge them with the crime. But failing to charge them with piracy prohibited them from deriving their authority from the commissions established under the William III statute which was exclusive in nature. The court had no jurisdiction to try anyone for any crime, a fact that became apparent to them at some point during the month long individual hearings. On April 19th, following the conclusion of two trials, and 165 separated investigatory sessions, the court charged John Jessop with “Piracy and Robbery upon the High Seas.” Jessop had already been found guilty of unlawful resistance and attack of an HMS vessel
As seen from both Figure 2 and Figure 3, the application of negative externality of consumption is appropriate, as it clearly indicates the before and after results of the implementation of the tax. As clearly shown, overconsumption leads to social inefficiency, but by applying a tax, a decrease in the consumption of plastic bags can allow for a shift of the market. The increase in social efficiency also allows for social cost and benefit to be equal. By applying taxes on the plastic bag negative externality it allows for a reduction in the supply of plastic bags. Due to this tax, the supply curve S1 will shift upwards to S2. This will inherently also reduce the gap between Qefficient and
How do explain something that is completely in the wrong as ok? Why can people, organizations and even governments make irrational decision over and over again? The United States prides itself on it’s ability to be a free country and support freedom of religion and freedom of speech but throughout history their are numerous accounts of the United States going against it’s own beliefs and treating it’s people in terrible ways. One example of the United States going against it’s pride in equality and rhetoric of democracy and acting in ways of exclusion and inequality is during World War II when the United States forced evacuation of the Japanese to internment camps. The memoir, “Looking
With canons blaring in the distance, Captain Edward Teach sits in his quarters, preparing for battle. To his belt, Teach straps pistols, daggers, and his cutlass. Across his chest, a sling with six pistols all loaded. Then, slowly, Teach braids his bushy, pitch-black beard that would come to give him his name. Finally, Teach places several slow burning fuses under his hat, lighting each one by one[i]. With wisps of smoke billowing around his face, Blackbeard, the most treacherous pirate in history, emerges from his cabin to join the fight. In the golden age of piracy, Captain Edward Teach, more commonly known as Blackbeard, stands out as the fiercest and most important figure. Blackbeard and his crew successfully controlled commerce along
There are many reasons to link financial problems and crime to the large revenues of gambling. Financial losses are one of the extreme threats and costs to the gambler. This is because
What the Monty Python did was unheard of before. This is a very creative idea to combat piracy in the modern age of technology while profiting from good relation. The idea clearly illustrates one of the factors that affect the demand curve: Information. Through a classic “all else equals”, we can see that a rightward shift in demand while supply stays constant brings great benefits for both consumers and producers.
B. In addition, illegal gambling has given crime lords power of controlling gaming set up in illegal casinos.
The Mafia is involved with more crime then one can think. Back when there was prohibition who do you think was the booze smuggler, the Mafia. this is just a few crimes the Mafia commits. Mafia hitman Salvatore ``Sammy the Bull'' Gravano pleaded not guilty on Monday to charges that he helped operate and finance a multimillion dollar, statewide criminal drug deal in Arizona. A federal grand jury in Brooklyn indicted 19 individuals, including six with suspected ties to organized crime, on charges of stock fraud and money laundering. Sex probably rates higher than whiskey in desirability, and so organized crime moved into illegal prostitution. these are just a spoonful or what the Mafia does. Racketeering; fraud; car theft; robbery; armed assault; drug dealing; trafficking in weapons and radioactive material; trafficking in human beings and exploitation through prostitution; alien smuggling; smuggling of precious and antique goods; extortion for protection money; gambling; embezzling from industries and financial institutions up to infiltration and control of private and commercial banks; controlling of black markets. The Mafia is dangerous group of people and they should be put in jail.
The Mafia way of life may seem like a romantic updated version of the western movie played out on the streets of the big cities where the good guys and the wise guys who share the same instincts and values do battle before an enthralled public but it is actually very different. The Mafia is really just a group of uneducated thugs making money by victimizing the public. Initially, the Mafia was setup as a prominent supplier of bootlegged liquor, but it has spread into many different areas of crime. During this research paper I will discuss three aspects of the Mafia which are crime, structure and decline in leadership.
In contemporary society, human society is progressing rapidly on various fronts. Nevertheless at the same time, the problem of overfishing is becoming increasingly worrisome and attract extensive attention of the society. In this essay, I will address overfishing and propose some possible causes of this phenomenon which can give contribution to some solutions.
Utilitarianism suggests that the act that results in the greatest amount of happiness for the greatest number of individuals is the option that we should choose. Whether gambling should be deemed as an ethical or unethical act depends entirely on the consequences and benefits gambling has on casinos, gamblers, and non-gamblers. If gambling results in the overall increase of a casino’s profit and the overall increase of a gambler’s profit and mental health, then the act of gambling would be considered ethical. However, if the act has more negative implications than positive, then the act of gambling would be unethical. For example, it would be unethical if the transaction between casinos and gamblers was rigged solely for the casino 's financial benefit while exploiting those who gamble there. The significant concern of this paper is not to point a finger at casinos and other gambling mediums as a means to blame them for the mental conditions of those who we’d consider as gambling addicts. Instead, the point of this paper is to acknowledge the effects of gambling and propose the importance of responsibility. I will present an unbiased view of gambling, paying close attention to the psychological effects and motives individuals have regarding gambling at casinos. Also, I will look at the positive results associated with having a successful casino business, so that allowing gambling is ethical from a utilitarian point of
From commercial casinos to lottery tickets to off-track betting, it is easier to gamble today than ever before. While the government promotes the gambling industry to supplement tax revenues, it has not allocated