Category: Uncategorized

For centuries, the concept of sports has prevailed as a dominant industry around the world. With number reaching the millions and even billions for national and international sports competitions such as the Olympics and Super Bowl, it’s no wonder that the sports industry is projected to be at a 73.5 billion industry as of 2019 according to the Forbes. However, while the sports industry remains a dominant force, another industry representative of the modern technological age is rapidly matching it: Esports.

But while there have been consistent reports of ESports as a rising force, what exactly is it? To put simply, the concept of Esports derives the idea of competitive gaming and elevates to a professional indoctrinated national and international level. While there is a multitude of formats that can be attributed to the ESports industry, perhaps one of the biggest and most well-known examples stems from the game League of Legends. Originally marketed as a free battle arena game where players could compete against each other based off of skill and strategy, League of Legends inevitably grew to be one of the largest gaming communities in the world. As of 2016, league of legends boasts an exorbitant number of 100 million active players monthly while viewers numbered up to 43 million in that year’s world championship alone. While not exactly mainstream, the industry of Esports is no doubt growing at an exponential rate. In fact, an analysis by NewZoo, a market intelligence firm, predicts the future of Esports industry to be an astounding 1 billion dollars by 2019.

Comparing the concept of Esports to traditional sports, these two industries undoubtedly have their share of differences. These differences stem most notably from the fact that while one is technology-centered and generally played indoors, the other provides a more rugged and physical role in playing sports. Despite these differences, however, the core foundation between Esports and traditional sports industries are almost identical. In the end, Esports growth as an industry can be attributed to the same passion, and drive for entertainment that propels the sports industry forward. Both sports and Esports have astoundingly highly devoted fanbases, with thousands rushing to by merchandise and jerseys every year, while even more browse online commentaries and streams that litter the internet daily. In fact, many Esports, like sports, also consists of team-based competitions with a primary focus on communication and camaraderie in order to achieve an objective.
On a broader societal scale, the rise of Esports as an industry has proven to be extremely attractive and beneficial for numerous companies from a marketing standpoint. Branding, sponsorships, and advertisements in the Esports field have the potential to reach millions of viewers of the younger and more recent generations. However, contrary to the common stereotype that only young college and high school males play Esports, studies have shown that a majority of Esports fans (60%) have been estimated to be above the age of college students, ranging between that of 25 to 35. Of those who are 25 or older, 58 percent were shown to have started families and had children. In addition, while Esports is predominantly composed of males, a considerable amount of fans (38%) are in fact, women. For many advertisers, this demographic of rising technological savvy fans are particular tempting due to their undoubted rising influence as the next generation of consumers. Already, many companies such as Samsung and Red bull have been seen to sponsor teams in the Esports industry. Perhaps even more fascinating is the interest of former sports clients of investing in Esports. With pioneers such as former NBA champion Rick Fox’s investment into an official Esports team (Echo Fox LoL) and CEO Scott O’Neil of the Philadelphia 76ers, the Esports industry is likely to skyrocket even higher in the near future.
While compared to the current Sports industry, the Esports can still be seen as still an industry set in the beginning stages, the potential it has on a globalized scale is irrefutable. Few can argue with the rising revenue generated by this budding industry, with awards for many championship titles rivaling even that of the Super Bowl set at 5.1 million. With these thoughts in mind, the question that faces many is this: how will the rising Esports industry impact other industries? How about society, education, and life as a whole?

 

Sources:

https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/darrenheitner/2015/10/19/sports-industry-to-reach-73-5-billion-by-2019/&refURL=https://www.google.com/&referrer=https://www.google.com/

http://www.espn.com/espn/story/_/id/13059210/esports-massive-industry-growing

eSports: a Marketing opportunity? Pros and Cons

https://northwesternbusinessreview.org/the-rise-of-esports-681aa9af919f

https://deadicatedfans.com/2017/07/06/20423/

 

 

Socialism, a term that has become increasingly associated by the older generations to the horrors of communism, the Cold War, the Soviet Union and inevitably the mass killings and crimes against humanity associated with such ideals. From a historical standpoint, the actions of the Soviet Union, North Korea, and even China with Mao Zedong has left nothing but a bitter taste in many people concerning the beliefs of socialism and communism. Consequently, the emphasis of these countries on both socialism and communism has undoubtedly left the average person confused about the actual distinction between socialism and communism. In fact, it was even noted during the political debates that Donald Trump, the current president, confused the two terms by calling Senator Bernie Sanders a “socialist slash communist” in a tribute to the negative connotations these words possess despite the fact that Senator Bernie Sanders labels himself as strictly a democratic socialist.

With all this uncertainty, many may wonder what exactly is socialism? How does that differ from communism and Is it truly as bad as people make it out to be?

Socialism is defined, according to Merriam Webster Dictionary, as any of the various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods. Likewise, communism is analogously defined by Merriam Webster as a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs. Based on initial observations from definitions alone, it is uncanny how similar these concepts are to each other. Both socialism and communism were built on the premise of a centralized system controlled by either the government or a collective group. Their differences, however, lie in the role of individuals in their respective systems. While socialism has individuals compensated proportionally to their contributions to society, communism has individuals universally compensated for their needs. Consequently, many communistic models, despite arguing equality, have resulted in low productions and mass poverty due to lack of motivation for workers. Additionally, while communism is defined as a political theory, socialism is at its core an economic theory. This difference lies in the fact that one mainly concerns the systematic transfer of wealth whereas the other focuses on the organization of individuals (and thus more prone to corruption and bias).

Historically, the origins of socialism and communism also differ greatly. According to Dr. Lawrence Quill, professor and chairman of political sciences at San Jose University, socialism came as a primary response to capitalism and the fear of unequal wealth distributions that may have resulted from pure individual competition. Communism meanwhile was seen as a more extreme end product of socialism; a model where distinctions between classes become completely abolished. Consequently, many realistic attempts at communism (as with the Soviet Union) often resulted in the complete elimination of private property and freedom of speech; ideas that have become foundational for many governments.

As with all theories, the values behind socialism, communism, and even capitalism have their merits and flaws. With the complexity of modern day society, it’s not uncommon for many countries to incorporate multiple economic systems now under the pretense of a “mixed economy”. According to Investopedia, even countries such as the United States exhibit aspects of a mixed economy with characteristics of both capitalism and socialism. The cooperation of both socialism and capitalism allows for the protection of private property and freedom in using economic capital while at the same time providing a means for governmental interference and regulations when the situation calls for it. Essentially, by combining socialism and capitalism, mixed economies are able to give individuals the incentive and motivation to succeed while simultaneously ensuring a sense of equality for those in abject poverty.

So, is socialism really that bad? The answer, as with so many issues in life, is ultimately subjective. The perceptions of socialism, communism, capitalism and even the mixed economy systems are in the end just broad umbrella terms where countless possibilities exist. To what extent should a government interfere without violating our natural rights? In what way should equality (or lack thereof) play a role in this issue? Even if there are definite answers to these questions, who has the power to decide whether or not any system of government is the “correct one”?

 

Sources:

https://www.investopedia.com/ask/answers/100214/what-difference-between-communism-and-socialism.asp

https://www.investopedia.com/ask/answers/031815/united-states-considered-market-economy-or-mixed-economy.asp

http://abcnews.go.com/Politics/trump-calls-bernie-sanders-maniac-socialist-slash-communist/story?id=34484030

http://www.independent.co.uk/news/world/americas/do-you-know-the-difference-between-a-communist-and-a-socialist-a6708086.html

https://www.huffingtonpost.com/henryk-a-kowalczyk/capitalism-socialism-and-_b_8523486.html

https://www.thebalance.com/socialism-types-pros-cons-examples-3305592

https://www.merriam-webster.com/dictionary/socialism

https://www.merriam-webster.com/dictionary/communism

The United States of America, a phrase that has historically been represented as a symbol of hope, freedom, and individuality. To be an American is to believe in diversity, individuality and the freedom to pursue a career in life centered upon your interests. For centuries since the founding of the United States, thousands have come to America seeking a new life, a place where parents could reassure and encourage their children in pursuing their passions. In fact, the belief that we can grow up to be whatever we want as long as we work hard has become a central theme in American culture. Such beliefs of freedom and opportunities can even be seen in politics, with Thomas Declaration of Independence starting off with the ever-famous phrase: “We hold these to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” Interestingly, even the term America, as coined by Amerigo Vespucci, had its original meaning derived from the concept of “A New World”. The connotation and history of America are immense, and as with all Americans, we embody and adore the idea of equality, that given an equal playing field, hard work triumphs all our in typical rags to riches story. This in itself is embodied by capitalism; an economic system where private ownership and competition ensures constant evolution and successful innovation. As amazing as capitalism is portrayed, however, there are often downsides associated with this system that gets often overlooked.

 

Ironically, perhaps one of the biggest controversies of capitalism is the inequality inherent to the system. By definition, capitalism is acknowledged by Merriam Webster as  “an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.” As such, it is not surprising that a crucial part of inequality in capitalism lay in the individual differences among companies and industries. According to journal articles from Evonomics: The Evolution of Economics, however, the concept of individual differences while small can provide a multiplicative effect on society, accumulating and exaggerating even the most minute of differences. One considerable difference among individuals is the social class one is innately born into. Logically, those born into wealth and money will have more opportunities, connections and heightened ability to succeed. This disconnect in equality of wealth can be seen most prominently in the form of college education. Historically, the ability to go to college has had a tremendous impact on future success. In fact, a New York Times article journalist Eduardo Porter succinctly summed up that “This pattern of stagnant mobility and rising inequality of education adds up to a dumbfounding paradox. American workers with a college degree are paid 74 percent more than those with only a high school degree, on average, nearly the biggest premium in the O.E.C.D”. In a modern society where more and more higher-end jobs require higher skill caps, the notion of education has become increasingly vital as most if not all professional careers have some sort of requirement for knowledge-intensive training.  At the same time, higher emphasis on education has drastically increased college competitivity around the world. This competitivity has gone to a point where specialized organizations such as Y2 academy and C2 education dedicate their goal solely on improving student standardized test scores and personalized essays as a way to optimize the college admission process. Unsurprisingly, all of these organizations, while helpful, require a hefty sum ranging several thousands of dollars further separating those of low income with high income. This in itself isn’t even accounting for the inflation of college tuition that many are forced to pay semester by semester. The high monetary cost before, during and even after college has essentially ensured those with low income to stay in low income due to their lack of opportunities in pursuing higher end education, which in turn reduce their ability to get a high paying job. Fascinatingly, this disconnect in wealth and the positive feedback loop was illustrated blatantly through Washington post as they reportedly claimed that the richest 1 percent of the American population currently own approximately 90 percent of America’s total material wealth.

Despite such problems, however, Capitalism is arguably not without its merits. The natural competition of companies and businesses foster tremendous incentives for individuals to work harder, innovate and improve as to outcompete their rivals. Likewise, consumers are able to choose from a variety of products, thus playing a pivotal role in determining the price a good is likely to be set at. The result of these consumer-producer relationships inevitably serves to promote economic growth and efficiency. In the end, the debate of whether or not capitalism is an adequate system lay in what we as a population value. Are the technological advancements we get from capitalism worth the inherent inequality that comes from our differences? If we decide that Capitalism is not a good system, then what alternative solutions are there?

 

Sources:

https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/

https://www.washingtonpost.com/news/wonk/wp/2017/12/06/the-richest-1-percent-now-owns-more-of-the-countrys-wealth-than-at-any-time-in-the-past-50-years/?utm_term=.dd3d152ee6e8

https://www.theatlantic.com/education/archive/2014/04/is-college-really-harder-to-get-into-than-it-used-to-be/360114/

https://www.thebalance.com/capitalism-characteristics-examples-pros-cons-3305588

https://www.loc.gov/wiseguide/aug03/america.html

American Capitalism Means Individualism and Freedom, Not Government Paternalism

https://www.merriam-webster.com/dictionary/capitalism

 

How Capitalism Actually Generates More Inequality

 

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