Hi ,
Can someone please grade my essay , provide feed back and approx score. I am previously having issues with analyzing the logic behind the argument instead of giving actual examples of making the argument mor solid. Please let me know if i'm doing better this time around. Thanks!
FROM MGMAT CAT Exam:
ESSAY QUESTION:
The following appeared in the personal finance section of a popular magazine:
"The average price of an acre of land in the United States is now 50 times what it was in 1970, and nearly 200 times what it was in 1920. The nation’s population is projected to keep increasing, even as the amount of land remains constant. Therefore, people who are approaching retirement should invest heavily in real estate in order to ensure their financial security."
Discuss how well reasoned you find this argument. In your discussion be sure to analyze the line of reasoning and the use of evidence in the argument. For example, you may need to consider what questionable assumptions underlie the thinking and what alternative explanations or counterexamples might weaken the conclusion. You can also discuss what sort of evidence would strengthen or refute the argument, what changes in the argument would make it more logically sound, and what, if anything, would help you better evaluate its conclusion.
YOUR RESPONSE:
The personal finance section of a popular magazine concludes that investing in real estate is the best way to ensure financial security. The argument is based upon two pieces of evidence: 1) average price of an acre of land has continued to increase steadily and 2) nation's population is projected to keep increase though land amount will stay constant. The conclusion, is however, faulty because it has many jumps in logic and utilizes assumption with no futher evidence to back it up.
Firstly, the conclusion assumes that increases in the average price of land correlates with good investment. The author concludes that because the average price of land has gone up through the past 80 years, and population will continue to increase, this makes investing in real estate profitable. There is no evidence in the argument to prove this point. The better prove his point, the author should include data to justify the connection between increase in price and increase in population. Furthermore, as it currently stands, the author is making one grand statement that all lands will increase in price. Some land may actual decrease in price, while other land may increase in price through the years. The author may better justify his point by providing evidence of areas of the country where price has continuously increase. The argument could be strong should the author limit his statement to only certain parts of the country rather than making an all inclusive statement.
Secondly, the author concludes that investing in real estate for people approaching retirement will ensure fincancial security. There is no evidence to prove should a point. The author needs to provide data that links together his argument. Investing in real estate may be risky and some investor may all loose money. Perhaps the author needs to modify his argument and / or justify why real estate investment provides security. Perhaps, this type of investment could be compared to other types of investment. Without futher evidence , we cannot make the conclusion
In conclusion, the author concludes that because price of land has increase through the years and that population will continue to incrase, investing in real estate is a good way to ensure financial security of someone who is near retirement. Futher evidence is needed to justify the conclusion, otherwise, it cannot stand true.