Journal Article: Chocolate Makers Fight Melting Supply
The article is about macroeconomic ideologies or microeconomic ideologies. Microeconomics focuses more on the decision making and analysis by individuals in focused parts of an economy. The cocoa farms and chocolate industries make up a small portion of the economy. Which in my opinion proves the article leaned more towards microeconomics ideologies. One major aspect that supports my statement is the fact that the article focused on decision making dialogues and analyses conducted within the cocoa farm industry in Ghana.
The article mentions many issues that the cocoa farms face, some issues such as fertilizers and human labor are more easily controlled than climate and land conditions. For Ghana to keep its cocoa bean production up it will have to work very on making technical advancements to make up for the effects of El Nino storm that is hurting production rates. With the lack of advanced physical capital on the farms, production has been decreasing while demand has been increasing. If the farms stay at the same or lower production rate, I anticipate that the cocoa bean production will be outsourced to countries with similar natural resources and need growth. If the companies with a high demand for cocoa beans are not being met, they will most likely find other locations where there can grow the abundant amount of cocoa bean production. It relates to SLO because it discusses the scarcity of cocoa beans while the unlimited want for these beans grows. The new generations are evaluating the opportunity cost they are paying when they work on these farms instead of working in the city; and because of this many individuals of the new generation are deciding to move into the city to work. These future generations are seeing a greater economic trade-off when working in the city as to working on cocoa bean farms. A big economic trade-off would be the fact that on the farms it requires a lot of physical labor and not as many opportunities to achieve all your wants, versus working in the city you are not performing physical labor and have more opportunity to make more money.
Reference
Alexendar, W. (2016). Chocolate Makers Fight a Melting Supply of Cocoa. Retrieved from
https://www.wsj.com/articles/chocolate-makers-fight-a-melting-supply-of-cocoa-1452738616