History of the Brooklyn Bridge Essay Example | Topics and Well Written Essays - 1250 words

History of the Brooklyn Bridge - Essay Example After 60 years of political, financial as well as technical negotiations, John Roeblings plan was accepted, the New York Bridge Company was formed and, in the year 1869, construction of the bridge at last began. In the year 1867, a group of well-known leaders formed the New York Bridge Company for the reason of constructing as well as maintaining a bridge across the East River. Via the enabling act, the Brooklyn city subscribed for three million dollars of the capital stock, while the New York City just subscribed for one and a half million dollar. The company was allowed to fix toll rates for pedestrians as well as all kinds of vehicles, getting a profit of no more than 15% per annum. The bridge was built over fourteen years in the face of huge complicatedness. Roebling died by an accident at the onset; a fire in the Brooklyn Caisson smoldered for a few weeks; Roeblings son, Washington, who occupied the post as chief engineer, endured a crippling attack of the bends during the build ing of the Manhattan Caisson, and sustained to direct operations, sending messages to the location by his wife, Emily. After the towers were constructed, a cable parted from its port killing two people; there was fraud committed by the cable contractor (Trachtenberg, 1990). Soon after ground was broken on January 3, 1870, work on the Manhattan and Brooklyn foundations. Life in the caissons was unhappy. Immigrant laborers worked in the profound foundations, paid $2.25 per day to work in perilous circumstances lacking electricity, telephones or other conveniences.

Microeconomics Essay Example | Topics and Well Written Essays - 750 words - 2

Microeconomics - Essay Example The price of a one carrot diamond is $10,000, while the price of 100 gallons of tap water is $0.50 (Textbook, 2007). The diamond – water paradox proves that the utility of a resource does not necessarily affect its price. The economical explanation of the diamond – water paradox is based on the law of demand and supply. The application of this law implies the reason the prices of diamonds are so high is based on the short supply of diamonds across the world (Varian, 2003). The prices of purified water sold in 20 ounce bottle units follow to certain extend same logic as the diamond – tap water paradox. Bottle water’s price is much higher than the water that comes into people’s home through its pluming system. To put the price in perspective with 100 gallons of water a company could prepare 640 twenty once bottles of water which retails at $1 a piece implying the market value of purified bottle water is 1040 times than the value of tap water. The quality of the product, its positive health benefit, its good refreshing taste and the formula that provides drinkable water at its optimum state of quality it can be to be consumed by humans. The marginal utility of bottle water is very suspect in comparison to tap water. The water in bottles has a market value which makes it an item that can only be used to be drank by a person, on the other hand tap water can used consumed orally by humans as well as a variety of other uses such as fro c leaning, to run machinery as a cooling agent, and many other uses. Tap water is way cheaper and has more used than bottle water. Water is a valuable liquid that is generally available at very low prices for most of the world’s population. In the continent of Africa in general water is not readily available for many villages across the African nation. The utility and value of water for a community is tremendous. If water is in a state of scarcity in a region the social political system is destroyed and a chaotic