Why I Listen to Reggae Music

I am a great music lover, and I virtually listen to every kind of music depending on the mood. When I do listen to music I want to be entertained, but also to be informed and be able to take some positives out of it, which means I care about the lyrics. For me there is only one kind of music that is best at offering this: Reggae music. When you listen to Reggae music and other major types of music genres, you will agree with me that it doesn't take a genius to tell the difference between Reggae music and any other type of music in lyrical terms. However today I don’t wish to explore into these differences instead I just want to give you a taste of how powerful a Reggae lyrics can be with the lyrics for one of my favorite songs below:

Artist: Warrior King

Song Title: Don’t Give up

Release year: 2006

Lyrics:

When it seems like there is no hope and you can hardly cope

Don’t give up; don’t give up; never give in

When things are not going your way and you feel like running away

Don’t give up; don’t give up; never give in

Don’t give-up; never give in, even when you feel like your “heart is going to spin”*

Put your trust in the King (God) and he will make you win, win, win!

Obstacles in your way jump over them, don’t be afraid of bad minded people them, don’t be a follower always set the trend, any problem Jah (God) will solve it.

When it seems like there is no hope and you can hardly cope

Don’t give up; don’t give up; never give in

When things are not going your way and you feel like running away

Don’t give up; don’t give up; never give in

Don’t be a victim of the system like those others, committing crimes and inciting** all those murders

Taking out the anger on the brothers and the sisters, that could never be rite, that could never make things better

Keep your head above the water’s; keep your head above the seas

Stand firm on your feet and maintain your sanity, put your faith and trust in the Almighty.

When it seems there is no hope and you can hardly cope

Don’t give up; don’t give up; never give in

When things are not going your way and you feel like running away

Don’t give up; don’t give up; never give in

And when you feeling kind of stressed,

And you feeling so depressed,

Look around you, you not the least, not the last, you are blessed, you blessed.

....................continues to repeat previous verses and chorus.

This surely isn’t a lyric that goes like; my gun, my girlfriend, my money, my swag, amma shoot you in the head.

* Am not sure if that’s what he actually said in this part.

** Not sure if inciting was the actual word he used, couldn’t think of any other word other than that after listening to it a 1000 times (josh).

Anyway if you know (or think you do) what he said in this two places, drop it for me in the comments, will appreciate it.

WHY DO FIRMS STAY IN BUSINESS EVEN IF THEY ARE MAKING A LOSS?

If you are a regular news watcher, you will be familiar with the idea of businesses reporting their profits (or loss) for past periods. One intriguing result of such reports is that some firms will report a loss for the past period or sometimes consecutive periods, but will still not shut down rather than incur loss. I think its worth pointing out what we mean by a loss; A loss in business is a negative profit, a situation where a business spends more than it earns (expenses are greater than revenues), which means the extra expenses is financed from some where else, perhaps from savings or a loan.

So why don’t businesses just shut down when they are making a loss and make zero profits rather than operating at a loss? One obvious answer might be prospective profits; that firms operate believing that the loss is for short-term and that the future is bright, however a seconds thought will tell you that if this was the case, then all firms in same industry will pretty much stay operating if they are making a loss, but this is not the case, In fact even firms in same industry quit at different time periods if they continue incurring losses.

It turns out that Variable costs are the determinants of exit decisions for firms. Costs in business are divided into two; fixed and variable costs. Fixed costs are costs that are fixed, regardless of the level of production, e.g. rent, which you pay whether you produce a single unit or nothing, Variable costs are costs that directly vary with output, e.g. wages and raw materials cost, this costs changes as the level of output changes.

When firms make decisions about whether to stay in business or shut-down, they only consider their variable cost’s and ignore the fixed costs. Here is why you see some firms making a loss but still stay in business in the short-run; If a firm is making a loss, but it’s profits are more than it’s variable cost’s, then the firm is better off operating at that loss level than shutting down, on the other hand if a firm is making a loss that it’s profits are less than it’s variable cost, then the firm is better-off by totally shutting down. The technique behind the analysis here is the fact that firms have to pay the fixed cost in the short run regardless of either they produce or shut down, so if they shutdown their business in the short-run they make a loss equal to their fixed cost, now if they are making a profit that is more than their variable cost, then they can pay the difference towards reducing their fixed cost (which they would have to pay for in full otherwise). Here is the trick, firms pay their fixed cost regardless of whether they produce or not, so it makes business sense when ever a business is making a profit more than its variable cost to stay operating in order to minimise lost.

The idea of firm decision making is better explained with an example; consider a Sole trader who operates’s a convenient store in downtown New York with the following costs;

One year property lease @ $2000/month

Wages of two employees @ $1500/month each

If the traders monthly revenues are $4000

Then the Traders monthly profit/loss statement will be as follows:

Total Revenue	4000
Minus Expenses:
Variable Costs:
Wages employee A	1500
Wages employee B	1500
Profit Before Fixed Cost	1000
Less Fixed Cost:
Rent	2000
Net Profit:	-1000

Now this trader is definitely making a monthly loss of $1000, the interesting question is should s/he shut down? And the answer is no! The trader should operate at a loss of $1000 in the short run. If he chose to shut down, here is what is going to happen, he will be  paying the rent of $2000 because this is fixed regardless of whether he sell or not, remember he signed a one year lease contract, normally businesses pay their rent in advance. However the firm should just shut down anytime the revenue goes below $3000, because his profit won’t even cover his variable cost, it’s left to the reader to change the total revenue to any amount less than $3000 and observe what happen to the profit/loss at that level. At any level of total revenue less than $3000 the trader will be making a loss more than his rent of $2000/ month, hence it’s better for him to stop trading and only pay the rent in the short run than incur a cost more than $2000 when he could do better.

It’s due to this reason that you see that some firms leave the industry so quick once loss hits whiles others in same industry continue operating while still making a loss. The nature of a firms cost determines when to exit the business and this is at any point where profit is less than variable cost.

I have be talking about short-term all along this article, but what do I actually mean by short-term? In economics short term is referred to as the time period within which at least one input of production is fixed and cannot be changed (In order words no specific time period attached to it). These is a very important definition with regards to firms exit decisions, because once all inputs are variable and can be changed, then it doesn’t make any sense for a firm to  operate a business at a continuous loss. Let’s revisit our previous sole trader example, if this guy can re-transfer his Lease (re-rent) to a third party, then it is no more a fixed cost and then he will be better off by just shutting down and make zero profits, however in general we don’t expect such processes to be very immediate, hence the name short-term.

If firms are making a loss, but their revenue is greater than their Variable cost, they will continue to operate until they can get rid of their fixed cost, this take different times for different firms, since every firm have different cost structures, that’s why we witness the shut down of Blockbuster  happened so quick when sales dwindle. 

“An Economist is a man who states the obvious in terms of the incomprehensible”

Alfred A Knopf.

Dangers of the single story

I found this speech by Chimamanda Adichie on Ted quite inspiring and fascinating and thought it's worth sharing.

Enjoy!

Credits:

Chimamanda Adichie

Ted Talks.

THE ENGLISH PREMIER LEAGUE AND THE QUESTION OF THE BEST LEAGUE IN THE WORLD.

....

The English Premier league is one of the best leagues in the World, if not the best.  Of course I’m a keen follower of the EPL and that perhaps might have an influence on my discussion of this subject, that’s why you are welcome to disagree with me, but I can safely assume that most of you won’t, because all what I say is what is supposed to be said "the truth".

The answer to which Football league is the “best” league in the World depends on your definition best, is it skill, domination of Champions league, entertainment, tactics, depth, competitiveness, or media coverage? Whatever the answer is the response will always certainly  be a divided opinion, at the end of the day everyone is entitle to their opinion.

But one thing that is certain is that the EPL is the most competitive of all the big leagues in the World. The debate about the most competitive league in the World is a two horse race between La Liga and the EPL. But seriously La Liga is a joke in it’s competiveness as the gap between Barcelona and Real Madrid and the rest is absurd, not even Valencia, Seville, or Athletico Madrid stand a chance, I love the unpredictable nature of the EPL where every game is sensational, like Tottenham loosing to QPR one week, beating Arsenal the next and Newcastle and Stoke City shattering havoc to all the big clubs.

Obviously there aren’t many leagues in the World were you don’t have a superior team and a second and third class teams. May be the MLS can claim parity, but that’s why it is not the most watched league in the World. But the current state of the two team domination in Spain is just brutal, Example the point difference between the Second position Barcelona and Third Position Valencia is a staggering 29, not to mention the ridiculous 71 goal difference, that’s no competition for me. You see La Liga is like a depiction of the Scottish Premier League where Celtic and Rangers put teams together to vanquish minnows.

Of course it’s true that only three teams have won the premier league with the exception of Blackburn Rovers (94/95 season) and the top four teams have almost been the same during this period until 09/10 when Spurs and Manchester City start challenging for a top four finish, but Everton, Newcastle, and Leeds United have all break into the top four prior to 2009. The Spanish League has been pretty much the same during same period. From 1992 to 2004 Valencia, Deportivo and Athletico Madrid have all been Champions in Spain; however from 2005 to date the two team domination has been the same. At least in England we could say it’s not been a two horse race and the Runner-up's haven’t been the same over the period, which we cannot say of La Liga since 2005.

The EPL just have a lot of depth and talent from almost every notable country in the World, spread throughout the league. While the German league can argue fun of parity, most of the German national squad players could be found at Bayern Munich. And Perhaps Spain won the last World Cup in style, but indeed almost all of their first team players play for one of the two teams at the top of the table every year in La Liga. In my opinion England’s Squad has the most number of varied players from bottom, middle to the top of the table.

Most people tend to use domination of the UEFA Champions league as a determinant for the best league in the World, but just as mentioned earlier “best” is too general a word and for me it depends on one’s own perception, but even if we use the champions league as a justification for competitiveness of a league, then the competitiveness of the EPL has shine over the last five years, because the EPL teams have been dominant in the Champions league in the Past eight years excluding the current season.

What amuses me about La Liga is the substitute bench of Barcelona and Real Madrid, it makes me sick looking at the bench of those two teams- players who would (and should) be starting in any team in the World. Individual teams may do very well in the champions League just depending on how deep and talented they are, but the competitiveness of La Liga (Currently) as a league is very low. It might be fun in one way Watching Barcelona hammer Real Vallecano 7-0, but it’s more of a display than a football match and as good as it might be that is not a substitute for competition.

I believe that most true football fans will rather have a league that didn’t have all the big players in a couple of teams who go round humiliating everyone else, for some marketing men they might rather prefer that, or should I just say it’s much more profitable for them, but for a legitimate football fan it is very dull to watch one team outclass everyone else, again what is the point of watching a game anyway if you're almost certain of who will win even before kick-off?

Predictions of TV pundits about who will win the League as early as August has been accurate and consistent for so long a time, it’s time fans buy their season tickets going into a new season knowing that their teams have a chance. In England in the last two years we witness the start of an Era where the so called traditional big four are being challenged to the limit, whether this will continue is another question, but I think it is too early to make a firm conclusion about the trend.

So, those that make the English premier league the best league in the World? Who cares? It makes it the more competitive and enjoyable league to watch, after all it is my favourite league and that is good enough for me.

Peace.

IS ROY HODGSON THE RIGHT MAN FOR THE ENGLAND JOB?

Is Roy Hodgson the right man for the England Football manager’s job? I don’t know, what I do know is that anyone who accepts the offer of managing the current England team knows he has great challenges to overcome both on and off the pitch and there is no exception to Roy Hodgson. Only time will tell if the English FA have made the right decision by appointing Hodgson ahead of the European Championship.

One thing we do know is that Mr Hodgson is within the category of the FA’s preferred candidates; an English manager. Since Fabio Capello’s departure there seem to be consensus among English fans, players, pundits and the FA that England’s next manager should be English. Now what intrigues me about Hodgson’s appointment is whether he is the best candidate in that category. In fact the run for the job seem to be a one man race until when the FA declared that they have approached Roy Hodgson for the post.

Harry Redknapp was the clear favourite, not only by the pundits and the fans but also by the people he will be working with; the players. Now I don’t know  the FA’s motive behind appointing Roy Hodgson, there are speculations that it is financially motivated because Roy is out of contract at West Bromwich while Harry is still in contract with Tottenham, but if the FA’s decision is not financially motivated as they claim, then I think they have appointed the wrong man.

Harry Redknapp may not be the most appropriate person for the current England job, but among the category of the current English Managers, he is indeed by far the most appropriate. Harry has done a phenomenal job at Tottenham and previously at Portsmouth. Harry has work with some great players and has managed in the World’s greatest football competition, The Champions league, a Year ago. The best that can happen to any manager of the current England team full of problems both on and off the pitch is the support of the men you will be managing, Harry Redknapp has got the endorsement of all the big names in that England squad. I mean I don’t know what the English FA are thinking but for me it was an easy decision. If all the pundits and players should stand out and say that Harry Redknapp will be a perfect choice, I don’t get it why the FA try to play surprise! Surprise! And appoint someone else.

Moreover even Roy Hodgson himself has said that Harry Redknapp is the perfect and the favourite candidate for the job when asked by Journalists in one of his press Conferences. You see Roy might have done a great job with Fulham and Westbrom with limited budgets, have some international experience (In the 1980’s anyway), but his Liverpool experience tells us that this is no guarantee for success with the England national team. What Harry has got and Roy is lacking is experience of working with key England players. Harry Redknapp has worked with key figures in the England Squad like Rio Ferdinand, Frank Lampard, Peter Crouch, and Glen Johnson and is currently managing players like Jermaine Defoe, Scott Parker, Aaron Lenon, Ledley King, and Michael Dawson who are all important England players.

It’s no secret that Rio Ferdinand and John Terry feud is a problem any England manager has to sort out before partnering those two players in your centre back, the FA knows that than anyone else does, Personally I will think Harry is more suitable to solving that problem (Or may be minimising it’s impact on the pitch) because I don’t think there is any clear cut solution to that feud given the fact that John Terry has shown us what he is really made of over the years and Rio Ferdinand being a no nonsense man. But given Harry’s relationship with Rio and Frank Lampard (who is a close friend of John Terry I’m assuming) I believe he can get the best out of those two players on the pitch without ever bothering much about their off-field saga.

I wish Roy Hodgson the best of luck in his new role either way.  He is a great manager and has done an amazing job at Fulham and West Bromwich Albion, whether he can take the success he enjoyed at this two clubs to the England national team remains to be seen, I hope he does.

Peace..............