Friday, December 7, 2012

Adam Smith was a philospher whom later became an economist. He believed that gold and silver were not real wealth. He said real wealth was the essentials of life: Food, water, shelter, etc. He believed that if people wanted a better lif style standard, goods and services should be pleniful and cheap. He soon developed the Free Market System, which is based of of the basic known law, "supply and demand", and allows people to "vote" with their money for what they agree and like or with that with which they disagree and dislike. He believed that marketing was democratic, and belived that the best and most sucessful operation in free market was competition. He thought that compitition would create greater quantity, quality, and lower prices on goods and services. He also believed that the only thing that could truly effect and threaten free market was government interference, such as: fixing prices and wages, controlling production, controlling distribution, and subsidizing production

Economics is the study of how people use their scarce resources to meet their competing desires. A resource is called scarce if they do not have what they would if their product was free. so the desicion is left to them to figure out how to use their scarce resources to convince consumers to buy the product.
 Capitalism is an economic model that calls for individual households and small buisnesses to control the economy. Capitalism is only one of twoeconomic models, the other being central planning, which calls for government control of the economy.

Green jobs have different pros and cons. cons being federal and state efforts to stimulate creation of green jobs have largely failed, which government records show. Pros being that the green jobs are in fact helping the economy. The debate is whether green jobs are helping the economy or destroying it.

the question, should I support green jobs or not?
I would support green jobs, for, even if they do fail, they will have some postive impact on the economy and the enviroment. It would help supply and demand because more could be created in a better way, and greatly improve what scarce resources we have!

1 comment:

  1. Good beginning! You have stated the general basics of supply and demand and the free market system. You needed to go into each in much more detail. Also, you say nothing about green jobs and whether or not the government should put money into them.

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