Economics Essay, Research Paper
The economic problem is simply the process of providing for the material well-
being of society.(Heilbroner) In my own words, I feel that the economic problem is
simply that there are to many jobs and to many people that are not qualified for the
?right? job that they can perform. This then leads to people who do not have the ?right?
job for them to not work, because they feel that that is not the job for them. This could be
a huge problem that eventually leads to unemployment. Also as technology improves we
will no longer need people to do the job but machinery.
Tradition is particular rules that have been adapted to society. This is simply
being handed down the family business. There are advantages and disadvantages to this.
One advantage is that you are set in a business and really do not have to worry what you
are going to do when you get older. But on the other hand there is a disadvantage, being
handed down the family business, you are set in that business for basically life and and
there is a lack of progress. And progress is the origin of new goods and services.
When dealing with command there is always going to be someone who is in
charge, the one with all the power, the one who says you do this. Command and slavery
are tied together. Central authority can help economic progress. Markets are systems
that allows individuals to make their own decisions.
There are two dimensions of production and distribution. One being, to organize
a system to assure the production of enough goods and services for its own survival.
According to Robinson Cruso this means to be able to live are your own. By doing
everything by yourself as opposed to a society working together. And the second
dimension being, to arrange the distribution of the fruits of its production so that more
production can take place. I think that this basically means to spread the wealth so that
many people can get a chance a what they are good at rather then what they are put to do
not by choice.
There are ways in which to solve the economic problem, by giving people fair
opportunities to do the job they are good at rather then what they are not. But then this
takes us back to the problem that there is simply to many jobs and to many people.