rebuttal rewrite – summergirl1999

Rebuttal Essay

College: Grand Slam or Scam?

 

Every student has the choice to attend college. Getting asked the question “Are you going to college?” can be challenging for some students. College is a big decision to make and it comes with many factors. College can benefit or draw back students, depending on the specific student. (Student A and Student C.) In American society, a college degree in American holds weight. Working towards a college degree shows employers that students are motivated to succeed. A college degree can determine raises, well-paying careers, and most importantly success. Students encounter their own personal and financial issues, and college can have the effect of leaving students in sticky situations. Even with a college degree, a career and well-paying stable job in the student’s field of study is not guaranteed.

Students will make more money from attending college. Students attend college so they can make themselves more marketable to the career field, and to also make a good and stable amount of income. A member from the CBD College community states “Studies have shown that there is an average of $25,000 earnings difference between grads and non-grads… The bottom line is that pursuing a degree increases the ability to find work in the same field, increasing experience and earning potential.” Having a college degree can give a graduate the opportunity to receive higher paying salaries and stable incomes. A college degree can also give a student the potential to receive higher raises. Not every student who receives a degree gets a stable income. Student A attended college, received a degree, and found a career that had a stable salary. Student C attended college, received a degree, and found a job that offered salaries that do not pay enough to pay off student’s expenses. The push to try to make students attend college is leaving many students optioning out the “build your own business” idea, which is the idea many of the billionaires in today’s society had. 25 of the top-paying jobs that don’t require a four-year degree and their average salaries, based on data from the BLS and CBSSalary.com It is important to note that some of these jobs DO require some kind of a degree, just not a 4-year degree. As many have commented below many of the jobs do require formal training of some kind or even a two-year degree” (Seed Time.)

College graduates can potentially have better employment opportunities. Students go to college so they have a high chance of getting a career in their field of study. Many college graduates (Student A), take-out loans or pay the expensive college tuition because the money they can potentially make from their careers after college is worth it. “College freshman in 2015 said they attended college to “be able to get a better job.” In Jan. 2017, the unemployment rate for college graduates aged 25 and over with a bachelor’s degree was 2.5% compared to 3.8% for those with some college or associate’s degrees, 5.3% for high school graduates, and 7.7% for high school dropouts” (Pro Con). After college, graduates use their degree to get a career in their field of study that they potentially could not get if they did not go to college. Although many people get to use their degree for their benefit by obtaining their “perfect” or/and “dream” career after college (Student A),not all students get to use their degree for their benefit. Even with a college degree, after college not all graduates are able to get a career (Student C.) There is a lot of comparing applications for the job position. The work place is very competitive, potentially thousands of people can be applying for the same position. Cyrus Williams a counselor and professor at the University Virginia states “This is a real issue unique to this generation called ‘a quarter-life crisis, struggling in terms of milestones, getting jobs, parenting, finding jobs, having too many choices, and having debt coming right out of college” (CNBC.) College tuition is very expense, most college students take out student loans which they are obligated to pay back approximately six months after graduation, so not being able to get a stable, well-paying job after college can lead to major set-backs for college graduates. Graduates who do not get jobs after college are required to pay for necessities such as rent, utilities, and food. Even if graduates are not using their degree they are still obligated to pay back their student loans as soon as six months after graduation.

Student loans are not as bad as they seem. Since college tuition is outrageously expensive, most students do not have the money to pay for it. But there is a solution to that problem, to take out student loans. Students who do not have the money for college, take out loans from banks so they can attend college. Banks loan student’s money in return for the students to pay them bank monthly after the student graduates. Average monthly student loan payment (for borrower aged 20 to 30 years): $351. Median monthly student loan payment (for borrower aged 20 to 30 years): $203” (Student Loan Hero.) The goal for after college is to acquire a stable career that comes with a stable salary, so the monthly student loans will become manageable for the graduate (Student A). That scenario makes attending college worth it and beneficial. On the other hand (Student C), students take out student loans from a bank for a four-year university. After college, many students cannot find a job in their field of study but they still have to pay for necessities so they are forced to get minimum wage job which pays approximately $7.25. Students attend college so they can get a career where they can earn raises and move up in the company, not a regular job. People have their own personal and finical problems, so without a steady paying career can lead graduates to make certain decisions they potentially would not make if they had stable income.

 

Reference Page

 

(2008, October 05). 25 Best High Paying Jobs Without A Degree. Retrieved April 09, 2018, from https://christianpf.com/paying-jobs-without-degree/

https://studentloanhero.com/student-loan-debt-statistics/

Long, K. (2016, August 08). Why Your Student Loan Debt May Not Be As Bad As It Seems. Retrieved April 09, 2018

https://www.forbes.com/sites/financialfinesse/2016/08/07/why-your-student-loan-debt-may-not-be-as-bad-as-it-seems/#61095a8218b8

9 BENEFITS OF EARNING A COLLEGE DEGREE. (2016, December 09). Retrieved April 09, 2018, from https://www.cbd.edu/9-benefits-college-degree/

https://www.cbd.edu/9-benefits-college-degree/

 

But Enough About You – summergirl1999

But Enough About You

 

Money seems to have a big role in our society; we can’t do much or get far if we don’t have any. Money is valuable in different ways, even when we don’t see it physically. In today’s society we must have faith in the government and in the banking system that our money is being handled in the proper manner; if not, then we would have to hide all of our money under mattress’ or around the house. I have no clue what happens in the banks, or how they take care of America’s money. I always thought money was simple; people either have money or don’t—that’s it. However, being introduced to this assignment, the Yap Fei, US gold, French francs, Brazilian cruzeros, and debit accounts now seem similar. People don’t actually see your money being transferred. When people get paid, they aren’t handed cash, they don’t receive a physical check, the money’s all directly transferred to their bank accounts, and Americans are obligated to trust that they got more money.

Stone Money Rewrite—PlethoraGaming

One thing I have known for a long time is that money has different value in every country. For example when I traveled last year one dollar would be equivalent to 70 of that country’s currency. Three dollars can get be a box of Oreo, while two hundred and ten of the other country’s currency can get me about five boxes of Oreo’s. I have no doubt that we believe in a sort of ‘fake’ money, after hearing about the concept of Stone Money.

Friedman said that the acknowledgement of ownership is all it took to add value to the currency; and that acknowledgement is passed down. This surprised me because how can generations of people put trust in something, and not question it? Then I recalled, this is similar to religion people have faith on something that could or could not be real

The US setting aside gold for the French is exactly like the German marking a number on the fei, by adding belief to it, it adds value. This created a lower monetary value for the US, while increasing the France’s monetary value even though the gold was not even moved a few feet away. This goes back to show that money is not fluid, just because a person can make others perceive something differently

The story of How Fake Money Saved Brazil by NPR also shows the effect of how we perceive money. Their story was the value of money were not stable, and in order to stabilize and return faith into the economy they had to create essentially a fake currency. By changing how much the old currency values compared to the new currency and keeping products at the new currency the same, it restored the value of the new money. Because the money was no longer varied, products maintained a value, which restored faith in the economy. This plan could have easily backfired if they did not believe in the new currency, this shows how the faith we put into currency can change the value.

And now in modern-day we have electronic currency. We can now get paid by having our money deposited directly into our bank account. And because when we check our bank balance and it shows a number we believe in it, even though it’s just a set of number. We use it to buy real products with our debit or credit card, even though we didn’t pay physical money for it, the electronic money is treated as real physical money. Money that is not backed by something valuable like gold etc… we can consider it fiction.

We also have other fiction money, such as Etherium and Bitcoin known as cryptocurrencies. Even though they have an equivalent value for other non-electronic currency, what would happen if they stopped using cryptocurrency or say they get banned in a country? That might be what we will be facing soon as there are rumors about cryptocurrency ban in China. According to Josiah Wilmoth just rumors of the ban dropped values of the currency by ten percent or more. This proves that because we believe is some rumor we affect the cryptocurrency.

To sum this all up, just because we perceive or believe something, we are capable of making a value for it.

 

Work Cited

Friedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.

Wilmoth, Josiah. “Ethereum, Bitcoin Prices Lead $20 Billion Slump Amid Chinese Regulatory Turbulence.” CryptoCoinsNews, Cryptocoinsnews, 9 Sept. 2017, http://www.cryptocoinsnews.com/ethereum-bitcoin-prices-lead-20-billion-slump-amid-chinese-regulatory-turbulence/.

Joffe-Walt, Chana . “How Fake Money Saved Brazil.” NPR.org. 4 Oct. 2010. 9 Sept. 2017. <http://www.npr.org/blogs/money/2010/10/04/130329523/how-fake-money-saved-brazil&gt;&gt;

 

Stone Money Rewrite—Princess

Money is Value 

         How do you answer the simple yet difficult question, what is money? Growing up I thought money was what you needed to do everything and anything. I always thought money was worth so much! I would ask my popop for dollars all the time and I thought I was rich! Then I realized my poppop had other kinds of dollars with larger numbers and I was confused as to why some things could be one or two dollars and something else could be five or ten and so on. As a little kid I would run around with the dollar showing everyone what I had received and then someone told me to save it so I could start a college fund. Confused, I said okay and put the dollar somewhere safe, not know that that dollar would decrease in value every day.

Now if you were to ask me that same question now, I would answer. Well the definition of money is a current medium of exchange in the form of coins and banknotes collectively. But how can that be true if we have things such as credit cards and electronic banking where there is no physical exchange? In the stonemoneyessay.pdf it states “A noteworthy feature of this stone currency … is that it is not necessary for it’s owner to reduce it for possession. After completing a bargain which involves the price of a fei to large to be conveniently moved, it’s new owner is quite content to accept the bare acknowledgment without so much as a mark to indicate the exchange, the coin remains undisturbed on the former owner’s premises.”  But how can that money have a new owner if the old owner still technically owns it?

For example, again as it states in stoneymoneyessay.pdf  “When the German received ownership of the Caroline Islands, after the purchase of them from Spain in 1898 many of the paths and highways were in bad condition and the chiefs of the many districts were told that they have them repaired and put in good order. Coral was good for the natives and many were the repetitions of the command, which still remained unheated.” At last it was decided to impose a fine of disobedience on the chiefs of the districts… The fine was extracted by sending a man to every failu and pabai throughout the disobedient districts, where he simply marked a number on the most valuable fei with a cross in black paint to show that the stones were owned by the government. This worked like a charm and the people thus dolefully impoverished… Then the government dispatched its agents and erased the cross and the fine is paid.

Stone money and numbers in your bank account are the exact same thing. Just because you do not have that money in your sight or touch doesn’t mean that that money is not yours. As long as everyone knows that you are now the rightful owner of the stone, it is yours.

 

Works Cited

Friedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.

The Invention of Stone Money.” 423: The Invention of Stone Money. This Is American Life, WBEZ. Chicago . 7 Jan. 2011.

Joffe-Walt, Chana . “How Fake Money Saved Brazil.” NPR.org. 4 Oct. 2010. 30 Jan. 2015. http://www.npr.org/sections/money/2010/10/04/130329523/how-fake-money-saved-brazil?gt=

A04: Stone Money Rewrite- alaska

Money, money, and more money.

To me money is so important. We as a society need it to get by in life but money has so much power over everything we do. From the earliest humans, we have always thought about ways to trade or pay people back. I have listened to the broadcast “The Invention of Money” and read the article “The Island of Stone Money” by Milton Friedman. Friedman says that The Island of Stone Money had no metal so they had to use stones. I thought that having a big stone to pay a person is kind of a ridiculous thing to do since you don’t move the stone if it’s too heavy. Everyone around you would know that you don’t have that stone anymore and it was someone else’s.

In the broadcast “The Invention of Money” the five reporters say that in the 1950’s a big limestone meant you can buy back a member that someone else has captive and trade that person for a stone. Saying you would get your member back while everyone knew the stone was not yours anymore. While a bank account is just numbers and the bank saying how much you have when the actual money isn’t there. A bank account means so much to people when its just numbers on a screen. To think a big limestone and a bank account are to mean the same thing but are so different from each other is crazy.

In The “The Invention Of ‘The Economy’” by Jacob Goldstein. Goldstein says that the GDP (Gross Domestic Product) is not a thing; it’s an idea. Also, That the U.S made the economy $500 billion dollars bigger just last year. The economy to me is just a big confusing thing.  The economy is huge and so many factors affect it. Whether it makes the economy better or worse. The Yap concept of money was way easier than it is today. They just had stones and you could trade them. The limestones were such a huge part of the Yap way of life. If it could not be moved it would stay where it is all the time, just with a different owner.

So, what is money? To society today it is just a number in your bank account and not actually in your pocket. Money is part of everyone’s life today. To all of us there are many different definition of what money is. Money is just used to purchase certain items and pay our bills. Money is a staple of life today.

Works Cited

Friedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.

Goldstein, Jacob. “The Invention Of ‘The Economy’.” Npr.org, 28 Feb. 2014.

“The Invention of Stone Money.” 423: The Invention of Stone Money. This Is American Life, WBEZ. Chicago . 7 Jan. 2011.

Stone Money Rewrite—Flyerfan1974

Abstract Money

I approached an ice cream stand one day while walking with friends and I decided to buy a cone. After receiving my cone, I pulled out my wallet to pay $2.88. A thought abruptly popped into my head: what is money? I pondered this idea for many days until I discovered the true definition. Money is an abstract concept that may hold a monetary and cultural value, however, not a physical one. Money is not one physical item, but it takes a multitude of different forms including checks, cash, and cards. When I bought my ice cream cone, I paid by debit card. I gave him a swipe of a piece of plastic and he game me a physical item that I could eat. The debit card withdraws money from my account into the ice cream company’s system, which in turn raises its account balance. Currency is not a physical item, but an idea that influences our society. 

When I head over to a gas station or convenience store, and use the ATM, you receive a slip of paper confirming your transaction, it gives you the balance of your account. If the balance of the account is for example $5,000 dollars, then that $5 grand isn’t right there in your hands on the slip of paper, and there is not a little compartment in the ATM that holds your 5 grand. The banks physically do not hold all of your money in a little room, your money is circulated all over the world. Here is a physical example to help you understand, say I get paid a 100 dollar bill. Holding this germ covered, green piece of paper with 100 written all over it, you see Ben Franklin looking at you with pride. Say I take this green piece of paper, draw a red X on it and deposit it in the bank, a week later I go and withdraw 100 dollars. Will I get my red X 100 dollar bill back, no I will not. When I deposited that 100 dollars the only thing that changed was a number on a computer system. That number can be viewed by the bank, by an ATM machine, and by me on a banking app. Our red X 100 dollar bill has now been taken into the banks safe where it is put into circulation. What does this mean, this means that if another person comes by to withdraw 100 dollars they may wind up getting my red X bill. Then they deposit it, and the cycle continues. If you think about it, money is just an abstract concept.

A long time ago in the early stages gold was the only currency of our country. To buy food, or water you would actually have to hand the clerk a piece of metal. Then the abstract concept of paper money was born. Due to the unfavorable test of lugging gold around, you could go to the bank and exchange cash for gold. You could get 1 dollars worth, or 1000 dollars worth, just as long as you had the cash. The money was just an abstract concept because it represented the gold sitting in the bank. If all the gold suddenly disappeared one day, then all the cash would be worthless. For example if I went to the bank and exchanged a little bit of gold for cash, but suddenly the gold disappeared, my cash wouldn’t be worth anything, the cash was just a convenience. It was almost like a title on a car, you can give another man the title, and yes he may own it, however if there is no car then he is just holding a piece of paper with a name of a car.

Today our transactions are documented to the last detail; time of transaction, amount, and type of currency used. We use receipts, bank statements, and ATM slips to show that we have made the transaction of money. If someone asked me if who owns this dollar bill I can show my paycheck. However, in the late 19th century there was a civilization of people who did not record the transaction of money. Everyone knew who’s currency was who’s. In the late 1800s and early 1900s there was an island near Germany called Yap. The people of Yap used fei as their currency. However, fei is very special because it is a large wheel like stone. The fei is made from limestone which can only be reached on another island. Milton Friedman talks about how these people on the island of Yap, use fei as their currency. “Their medium of exchange they call fei, and it consists of a large, solid, thick, stone wheels, ranging from a foot to twelve feet,” says Friedman. The people on Yap’s currency is enormous, it cannot fit in any wallet I own. The people on Yap had to go to another island which was 400 miles away, and had to carve the fei from limestone. Limestone was not found on Yap. The people used canoes and rafts to make the treacherous journey. With extremely heavy stones and flimsy canoes and rafts, something is eventually going to happen. When talking about the people of Yap and their currency the NPR broadcast states that,”You don’t actually have to have the stone to own the stone. The stone is sitting on a path or something, and everybody knows that I own it.” You physically do not have it, but in everyone’s mind you do. One day while sailing back to Yap, the canoes sank, sending all the fei to the bottom of the ocean. “They came back and told the people of Yap what happened, the people of Yap said that’s fine, thats no problem,” “the stones at the bottom of the ocean are still owned.(said in NPR broadcast)” So the people of Yap physically did not have the fei in their possession. They just had the possession of the idea of the fei. For example, say I’m on Yap and have 3 fei, ones in the ocean, ones on a path somewhere, and one is in front of my house. A random stranger from the US comes by and sees my house he would assume I have 1 fei, but my neighbors on Yap would know I have 3 fei.

While searching around about fake, abstract money I noticed an interesting article titled, “How Fake Money saved Brazil.” In the article, Channa Joffe-Walt talks about “how an economist and his buddies tricked the people of Brazil into saving the country from rampant inflation.” Joffe-Walt talks about the crippling inflation that had hit Brazil.” In Brazil, inflation was killing the economy. Milk, and eggs would be priced at a dollar one day, the two dollars the very next day. People would have to run faster than the clerk who would mark up the prices to get the lower prices from the previous day. With many factors like inflation, who knows what can happen? The stock market crash, and the housing market crash are all reminders how are economy can be crippled just like that.

What is money? This question has been asked forever, and is still being though about today. My definition is that money is fake, it is an illusion of our society today, it is a status symbol, a tool, and sometimes a savior. It does not accomplish anything physically, just metaphorically. You cannot build a house out of money, but you can pay for one. There may be physical items paper money, gold, coins, and fei, however money is just fake.

Work Cited

Work CitedFriedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.

The Invention of Stone Money.” 423: The Invention of Stone Money. This Is American Life, WBEZ. Chicago . 7 Jan. 2011.

Joffe-Walt, Chana . “How Fake Money Saved Brazil.” NPR.org. 4 Oct. 2010. 9 Sept. 2017. <http://www.npr.org/blogs/money/2010/10/04/130329523/how-fake-money-saved-brazil>;.

Stone Money Rewrite—Killroy513

Money is one of the most important things in this world.  It makes the world go round. There is many different forms of money used around the world, its value is recognized by its significance. In Europe, the currency for one and two euro are coins while in the United States of America, the one dollar is paper. Many nations use different forms of currency, and the internet is no exception. The bit coin is used for trading and purchasing goods.

In economics, money is refer to as capital. This capital is spent by consumers and business and creates an economy. The economy fluctuates by how much capital is put into it, and by how much imported products are brought into the economy. The Yap simplified this economic system.

The Yap people’s currency is made up of lime stone rocks carved into cylinders. These rocks would be decorated and customized for whoever had them made. These stones, being huge in size, would not move from its final placement. The Yap people relied on word of mouth for financial records. This is almost like today’s modern credit system. Our credit system is based on invisible money that appears electronically.

Currency can be anything, as long as it has value to whomever wants it. In the past money was made of rare metals. Gold was the most saute after currency since it does not really loose its value. Most countries used gold to back their paper currency. The United States of America used gold to back the currency all the way up to the 1930’s. During the Great Depression, America suffered. Its economic growth dived to the pits. The once great economic power lost its way. Foreign countries became scared. They did not want to risk the money they had tied up. Many countries wanted to insure their assets would be secured. France being the first of them, wanted to secure its credit in gold. The United States dived the French shares. Eventually this would change. The gold would not be used to back the currency’s value, instead the government regulated the value based on the economy. Essentially this would start the modern day system of credit.

Inflation is good and bad for an economy.  To much inflation is bad because it discredits the moneys worth. Prices for everyday goods would jump. An example of this is Brazil. It had to much inflation and no one had money to buy the things they need. People would live paycheck to paycheck.  Basic items would cost a tremendous amount of money because of the lack of value in the currency. A new currency was introduced. Eventually the currency was changed and the economy leveled out. Products and services would then have normal prices. This made it better for the Brazilian people because they could live in a society that was “on their side” and made the way of life better.

Another example of how to much inflation destroys an economy is Germany after World War 1. The German nation after one of the most horrific wars of the twentieth century suffered economically and their reputation disappeared. Germany was blamed for the start of the war and many countries sought after reprisals because of it. At the time Germany was forced to pay large amounts of money to all the countries involved in the conflict. This shocked their economy and inflation began. The German people thought that printing more money would solve the problem. This is what caused their economy to collapse and sent the nation into a depression. Eventually Germany would fix their economy but in the end create another world war.

It is sad to say, but war either leads to a booming economy or a crumbling one. It is not good either way because of the events that lead up to it. The United States benefited from Word War 2, because of the booming economic growth but after the war most jobs were not needed and the economy shrank significantly. Germany again was crippled from the war just like the previous one, BUT, since the nation was split the western allies helped.

In the end money is truly one of the most important things to have. It can be anything as long as it retains its value. People ever since the existence of man, traded and used items as money. Money does not have to be a specific paper or coin, but anything with value. In the end it is truly whatever is found to be needed.

Work(s) Cited

Friedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.

Joffe-Walt, Chana . “How Fake Money Saved Brazil.” NPR.org. 4 Oct. 2010. 30 Jan. 2015. <http://www.npr.org/blogs/money/2010/10/04/130329523/how-fake-money-saved-brazil&gt;.