The Bomb Goes Boom:

A suicide bomber dressed as a student killed at least 48 people at a school assembly in northeastern Nigeria on Monday, said a hospital official. Most of the victims involved in this act were students. No one immediately claimed responsibility for the attack in the town of Potiskum in Yobe State. It however, is a territory that has been hit by Islamist Boko Haram rebels during a five-year insurgency. The militant group Boko Haram is believed to have carried out the attack due to its construction. They have initiated violent attacks to prevent children from going to school. They believe girls should not attend school and boys should only receive an Islamic education.

“So far, the number of the dead is 48, while 79 are injured,” a nurse at Potiskum General Hospital told officials. A teacher who survived the blast with minor injury said the bomber dressed like a student and was also on the assembly ground with the students. Boko Haram, whose name means “Western education is sinful” in the local Hausa language, has targeted schools, abducted students and killed thousands in its campaign to carve out an Islamist state. The act itself was terrifying, putting harmless students in critical heath conditions and for some even taking their lives away. The act killed at least 48 students known for sure. Hospital records show 79 students were admitted and health workers said they include serious injuries that may require amputations. The hospital was so overcrowded that some patients were squashed two to a bed.

A suicide bomb attack in the same city killed 30 people one week ago, when suspected Boko Haram fighters attacked a religious procession of moderate Muslims. So are these attacks acts of terrorism? They are acts of an extremest group. The survivors that witnessed the act said the bomber appeared to have hidden the explosives in a type of sack/backpack popular with students in the country.

Due to this attack, the government has decided to tighten way down on security and schools will withhold new procedures to further protect the lives of students and keep their schools/environments safe.

The following photos have been uploaded to Google images within the past 12 hours: the fact that these were taken so recently should show its importance

WireAP_3baa9878f87b48c5ba2c0d40759b5d29_16x9_992 nigeria-violence

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For more information on the Suicide Bombing that killed 48 students vist the house sites:

US and World News_ 

TODAY.com_

Economic Systems:

When one thinks of Monopoly, they most always conquer with the board game. However, Monopoly was created to show the evils of capitalism. When referring to an economic system we are acknowledging a system of production and exchange of goods and services as well as an allocation  of resources in society. With better understanding, its a more organized way in which a state or nation allocates ( or distribute ) its resources and apportions goods and services in the nation. In one view, every economic system represents an attempt to solve these three questions/problems:

  • What goods and services shall be produced, and in what quantities?
  • How shall goods and services be produced? That is, by whom and with what resources and technologies?
  • For whom shall goods and services be produced? That is, who is to enjoy the benefits of the goods and services and how is the total product to be distributed among individuals and groups in the society?

Capitalism is an economic system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state. Some of the main features of free-enterprise are individuals and how they engage as customers and citizens. Businesses and what and where production arises. The Market known as the central exchange of goods, influences of it as well. Income is also a main feature in which skills acquired and non control from the Government.

The benefits of Capitalism:

  • Economic freedom which helps with political freedom
  • Its efficient ( produce goods in which are demanded)
  • Economic growth (incentives to be innovative) *this helps to increase real GDP and lead to improved living standards
  • Health/ choices
  • social good (everyone benefits from each other) * invisible hand theory by: Adam Smith
  • Freedom (live the way you want)
  • Built on democracy
  • growth of economy
  • Class division

The costs of Capitalism:

  • Monopoly power (firms with monopoly power can exploit their position to charge higher prices)
  • Monopsony power (pay lower wages to workers)
  • social benefit ignored (pollution from production and harmful living standards)
  • Inherited wealth (based on legal right to private property)
  • fails to create equality of outcome and equality of opportunity

Acknowledging the cots of capitalism, I feel the benefits outweigh them. With capitalism you receive health benefits and much freedom. Your economy grow and expands with everyone benefitting from one another. Capitalism is also very efficient, in which demanded goods are produced with maximum variety.