Economy Archives

In today’s knowledge based economy, what you earn equals what you have learned. Do you agree?

I. Introduction

Hook: As the global economy shifts towards valuing knowledge and skills, the correlation between education and earnings becomes increasingly significant.
Background: Brief overview of the knowledge-based economy and its emphasis on education and skills.
Thesis Statement: In today’s knowledge-based economy, earnings largely depend on one’s education and skills, but other factors such as socio-economic background, networking, and market demand also play crucial roles in determining income.

II. Supporting View 1: Education and Skills Directly Influence Earnings

Topic Sentence: Higher education and specialised skills directly correlate with higher earnings in the knowledge-based economy.
Example 1: In Germany, individuals with advanced degrees in STEM fields earn significantly higher salaries compared to those with only secondary education.
Example 2: In Singapore, the government’s focus on upskilling and continuous education has resulted in higher earnings for professionals in tech and finance sectors.
Analysis: Discuss how these examples demonstrate the clear link between education/skills and earning potential, supporting the argument that what you earn depends on what you have learned.

III. Supporting View 2: Demand for Knowledge and Expertise

Topic Sentence: The growing demand for specialised knowledge and expertise further emphasises the link between learning and earning.
Example 1: In South Korea, the tech industry’s rapid growth has created a high demand for skilled software developers, leading to lucrative salaries for those with the right qualifications.
Example 2: The biotechnology boom in Switzerland has resulted in high-paying jobs for individuals with specialised degrees in biotech and life sciences.
Analysis: Examine how these examples illustrate that industries prioritising knowledge and expertise reward individuals with relevant educational backgrounds and skills.

IV. Opposing View 1: Influence of Socio-Economic Background

Topic Sentence: Socio-economic background significantly affects earning potential, sometimes outweighing educational achievements.
Example 1: In India, socio-economic disparities mean that individuals from privileged backgrounds often have better access to quality education and job opportunities, leading to higher earnings regardless of their skills.
Example 2: In the United Kingdom, a report by the Sutton Trust indicates that individuals from affluent families often secure higher-paying jobs through connections and social capital, even if their academic achievements are not exceptional.
Analysis: Discuss how these examples show that socio-economic background can have a substantial impact on earnings, challenging the notion that income is solely dependent on education and skills.

V. Opposing View 2: Role of Networking and Market Demand

Topic Sentence: Networking and current market demand for certain professions also play crucial roles in determining earnings.
Example 1: In Japan, the tradition of lifelong employment with large corporations often means that networking and company loyalty can lead to higher earnings, sometimes more so than individual qualifications.
Example 2: The fluctuating demand in the gig economy, prevalent in many European countries, means that earnings can vary widely regardless of education, with market demand for certain skills dictating income levels.
Analysis: Explore how these factors demonstrate that while education is important, other elements such as networking and market dynamics also critically influence earning potential.

VI. Conclusion

Restate Thesis: While education and skills are crucial determinants of earnings in the knowledge-based economy, socio-economic background, networking, and market demand significantly influence income, suggesting a multifaceted relationship between learning and earning.
Summary of Key Points: Recap the main supporting and opposing views discussed.
Final Thought: Emphasise the importance of recognising and addressing the various factors influencing earnings to create a more equitable and meritocratic economic landscape.

Technology has made us lazy. Discuss.

Supporting View 1: Technology has reduced physical activity and encouraged sedentary lifestyles.

Examples:

The rise of food delivery apps in the UK has led to a decrease in people cooking at home.
Japanese youth increasingly prefer indoor, tech-based activities over outdoor sports and recreation.
In Australia, excessive screen time has been linked to rising obesity rates among children.

Supporting View 2: Technology has diminished our cognitive efforts and problem-solving skills.

Examples:

British schools report a decline in mental arithmetic skills due to calculator reliance.
German employers note a decrease in job applicants’ ability to perform simple tasks without digital aids.
Indian parents express concern over children’s reduced creativity, attributing it to increased tablet use.

Opposing View 1: Technology has enabled greater productivity and efficiency in various sectors.

Examples:

American farmers use GPS-guided machinery to optimise crop yields and reduce labour.
South Korean hospitals employ robotic assistants to enhance surgical precision and patient care.
Swedish companies implement remote work technologies, improving work-life balance for employees.

Opposing View 2: Technology has facilitated access to information and learning opportunities.

Examples:

Rural African communities access education through mobile learning platforms, bridging educational gaps.
Chinese language learners use AI-powered apps to practise speaking with virtual tutors.
European museums offer virtual tours, making art and history accessible to global audiences

Tourism is unnecessary. To what extent do you agree?

I. Introduction

Hook: In the era of climate change and globalisation, the necessity of tourism is increasingly questioned.
Background: Brief overview of the tourism industry’s role in the global economy and its environmental and cultural impacts.
Thesis Statement: While some argue that tourism is unnecessary due to its environmental impact and cultural commodification, it remains a vital industry that fosters economic growth, cultural exchange, and global understanding, demonstrating that its benefits outweigh the drawbacks when managed sustainably.

II. Supporting View 1: Environmental Impact

Topic Sentence: Critics argue that tourism is unnecessary because it significantly harms the environment.
Example 1: The environmental degradation caused by mass tourism in popular destinations like Venice, where over-tourism has led to pollution and the destruction of local ecosystems.
Example 2: The carbon footprint of air travel, which contributes to global warming and climate change, as highlighted by studies from organisations like the International Air Transport Association (IATA).
Analysis: Discuss how these examples demonstrate the substantial negative impact of tourism on the environment, supporting the argument that it is unnecessary.

III. Supporting View 2: Cultural Commodification

Topic Sentence: Tourism often leads to the commodification of cultures, undermining their authenticity and value.
Example 1: The transformation of indigenous practices into tourist attractions, which can strip cultural traditions of their original meaning and context, as seen with the Maasai tribes in Kenya.
Example 2: The proliferation of “Disneyfication” in historic cities, where cultural heritage sites are altered to meet tourist expectations, diminishing their historical significance, as observed in cities like Prague.
Analysis: Examine how these examples illustrate the cultural costs of tourism, arguing that such commodification diminishes its value.

IV. Opposing View 1: Economic Growth

Topic Sentence: Tourism is a critical driver of economic growth and development, particularly in developing countries.
Example 1: The economic boom experienced by countries like Thailand, where tourism significantly contributes to GDP, job creation, and infrastructure development.
Example 2: The role of tourism in revitalising rural and economically disadvantaged areas, such as the Scottish Highlands, where it supports local businesses and communities.
Analysis: Discuss how these examples highlight the economic benefits of tourism, demonstrating its necessity for economic sustainability.

V. Opposing View 2: Cultural Exchange and Global Understanding

Topic Sentence: Tourism promotes cultural exchange and global understanding, fostering peace and mutual respect.
Example 1: Educational and cultural exchange programmes, such as study abroad opportunities, which enhance intercultural competence and global awareness among students.
Example 2: Community-based tourism initiatives, like those in Costa Rica, which allow tourists to engage with local cultures in meaningful ways, promoting sustainable practices and mutual respect.
Analysis: Explore how these examples show the positive impact of tourism on cultural understanding and global cooperation, underscoring its value.

VI. Conclusion

Restate Thesis: While tourism faces criticisms for its environmental and cultural impacts, its role in driving economic growth, cultural exchange, and global understanding affirms its necessity, provided it is managed sustainably.
Summary of Key Points: Recap the main supporting and opposing views discussed.
Final Thought: Emphasise the need for sustainable tourism practices that mitigate negative impacts while maximising benefits, ensuring that tourism remains a valuable and necessary part of global society.

How well are the demands of the economy and the environment balanced in Singapore?

Singapore has gained a reputation for itself on an international platform as a country that is strong both diplomatically and economically. Some quarters believe that the economic benefits have come about by compromising on the environment. Under the great leadership of the incumbent government, Singapore has over the last five decades ensured a balance between the environment and economy.

To boost the country’s economy, Singapore has invested significantly in infrastructure required for global markets. Singapore does not produce crude oil, however, it is known as a major hub for oil refining and trading. Oil refining and processing has a direct and immediate effect on the environment. Southern islands have been cleared of native populations and combined to create large petrochemical refineries and storage facilities. High levels of carbon emissions are a natural consequence of this activity which ultimately leads to climate change.

While the above has impacted the economy, the petrochemical industry has created thousands of jobs not just in the field itself, but also in complimentry industries like construction. The government has balanced the pollution generated in building the economy by investing in greenery. Thousands of trees and bushes have been planted around the small island. Even today one can see exotic trees and flowering bushes across the country and justifies its name as the Garden City. With no natural resources, the economic plan of the government has allowed for economic groth despite costs to the environment. The government has tried to mend this issue by regular tree planting to off-set carbon emissions.

In recent times the government has taken conscious efforts to build policies that protect the environment. Singapore has created a well-connected public transport system ensures that people commute using these transportation systems travel in comfort and reduce carbon emissions. The government has created cycling paths for the convenience of cyclists. In building new homes, Singapore government insists on having plant life in the form of green roofs, vertical gardens or even walls made it lush green grass and plants. Thus, while the country has made significant economic progress, it has not forgotten the importance of environment and is trying to strike a balance. The economy and the environment is well balanced in Singapore.

Singapore is extremely resourceful in finding balance between environment and economic growth. Growing concerns about climate change and global warming has prompted Singapore to continuously drive in the right direction of protecting the environment. A notable example of this can be an important tourist attraction, Gardens by the Bay, which has an innovative design and is considered a masterpiece in eco-friendliness. Recently, there also have been developments that the gardens will adopt a technology which can convert garbage into energy which can enhance plant growth. Similarly, many public parks in the country contribute significantly to the environmental health and also boost the economy. Unlike cities like Shanghai, Saigon and Santiago, Singapore is not plagued by the issue of air pollution. Singapore has good quality air and a high-quality life which make it clear that Singapore does have great balance between environment and economy.

Not only locally, Singapore has addressed the issues concerning environment on an international level as well. For example, during the forest fires in Indonesia, the National Environment Agency, helped to detect fire in 450 hotspots in three provinces in Indonesia. Singapore also offered fire-fighting assistance to Indonesia. This shows that Singapore as a country is not only addressing environmental issues on a national level but also on a global level. Apart from that, Singapore is also a signatory to the Paris document which asks for carbon and green house gas emission cuts. This again illustrates that Singapore, takes environment seriously and tries to strike a balance between economic needs and environmental needs.

There is no doubt that Singapore takes environmental concerns seriously. The country makes conscious efforts to mitigate the damage caused by economic endeavours. Though Singapore is not perfect in many aspects regarding environment, the country takes significant steps to become eco-friendly. This is evident from the fact that its carbon emissions are lesser than of the other developed nations.

Technology has had a negative impact on people’s skills? Discuss.

Without a doubt, technology has majorly impacted skills of people in the world. While the progress of technology is important, people should be careful in not being overly-reliant on it.

Human beings have always discovered and invented devices and machines for their convenience. Today, technology has taken an important place in people’s life and has made their lives easier. However, with technology, there are also problems that have risen. Machines which were created for helping humans, have made humans lazy, unskilled and redundant. Today people are overly-reliant on technology. Though many skills have been replaced by technology, there are new skills which have gained prominence today. Hence, technology has a negative impact on people’s skills.

Automation has led people to lack many skills and has caused their role to minimise in many industries. In manufacturing, from making the dough for different cookies, to cutting them in different shapes and packing them, all tasks are now performed by machines and robots. In aviation, pilots use the auto-pilot function and use electronic interface to control the flight. The pilot’s role today is limited and skills required to become a pilot have reduced significantly. With so much being done by machines, it is a logical conclusion technology has a negative impact on people’s skills.

New and advanced technology has attracted people to games that involve virtual reality and advanced graphics. Unlike earlier times, where people, especially children took time to go out and play sports like cricket, badminton or swimming, children today are glued to their Playstation, X-box, computer screens and mobile games. In today’s times it is getting difficult to find young players who are genuinely interested in playing sports as opposed to just playing sports for fame and money. Technology has given rise to new forms of sports as e-sports but these sports are not considered as sports by many because, who play these sports do not have great skills and are of little value in the real world. While playing real sports like football and tennis may build character and give one confidence, electronic sports do not provide any such benefit. Therefore, technology has also had an impact in sports creating a negative impact on people’s skills.

Technology has also impacted people’s soft skills and communication skills. Smartphones have given people a platform to connect with people from across the world however, people have lost their ability to communicate with people with mindfully and articulately. This is evident from the chat language people use in their daily communication. For example, using just “gn” for good night, “tc” for take care and “gbu” for god bless you. Similarly, people’s friendships today are limited to the extent of liking and commenting on a picture. It can thus be said that the art of communication has been lost significantly in present times. Applications like Twitter, have given people a stage to put forth their view but it has also made them intolerant towards other people’s views. People today are quick in jumping to conclusions and make their judgements based on limited facts, which sometimes are even fake. It can be said that technology has made people lose their reasoning skills and degraded human relationships, in turn. Therefore, technology has also had a negative impact on people’s skills and the ability to communicate rationally.

Though supporters of technology often say that people have replaced older skills with newer skills. They argue that people today are more well-versed in technology-based applications. However, these skills are not as intricate and lack in finesse as well. In earlier times people used to create handicrafts and painting with hand but with technology all that has changed. Skills like stitching, embroidering, fact-checking and map reading are being forgotten in our technological driven world.

Without a doubt, technology has majorly impacted skills of people in the world. While the progress of technology is important, people should be careful in not being overly-reliant on it. Over-reliance on technology will only lead to deterioration of people’s skills be it in the field of labour, communication or social interaction. Technology has had a negative impact on the skills of people.