Without a Market Economy (Magazine Article)"The Importance of a Market Economy"
Written by Ryan Maloney Today’s market economy is an economic system of free trade where the value of goods and services are arranged by supply and demand, which is the amount of a product that a market has available. A product becomes demanded by what the people want and demand based on the availability of the supply. The market economy is designed to have decisions made into a plan of production and investment that is not controlled by a central authority. Without a market economy, there would not be a need for supply and demand and we would not be how far we are today. Without having a market economy you would be relying on negotiation and trade. You wouldn’t be able to go buy anything that you needed. You would be selling/trading items that you own, or might grow. With this you would be developing more of a social community, because you would be working with the people in the community to get what you need. With this, it would result in having no chance of being able to save goods, money, etc. and would result in staying in the same spot without having the ability to grow any wealthier. The advantages of having a market economy are when a product is demanded, the corporation will start producing it. This results into a better and easier life for the people who are consuming the product. If a person develops a good idea that can help the life we live, then that product can be placed in the market being available for the ones who are for it. With the market economy being this way, it develops our lifestyles through raising our standards of living further in the way we live, from the new ideas rising from individuals. There is no need to worry about having enough of something in order to get what you need from trade or negotiations. A disadvantage of a market economy is the over amount of goods that come about due to overproduction. So many goods are put to waste, because the production number was increasingly higher than what was actually needed. When the demand for a product is demanded, the firm will produce it, but this could turn into having a negative affect further down the road. An example would be fast food, which is always in demand. Because of the amount of fast food demanded, it has resulted into making individuals obese and has adversely changed peoples eating habits. Without having a market economy we would be living in a closer social community, but we would not be where we are today. We would all be the same with having no way for improvement and medical technology. We would be in the same place, unable to move ourselves forward. New ideas that come about wouldn’t matter, because there wouldn’t be a way to develop and produce to supply those ideas. Without a market economy, we would not have come where we are today and would not be moving any more forward. |
County Commissioner ProjectLetter to CongressDear Akaka, Daniel K.
It is very unfortunate and depressing to know that there are lawmakers that participate in corrupt practices such as, fraud, or accepting bribes. The lawmakers that are guilty of these practices should be punished. The problem is you can’t punish the “lawmakers” when they are the ones controlling laws. There is a link missing between the lawmakers and what they can or cannot do. To stop this, there needs to be another power to check lawmakers. A form of check and balance needs to be formed to balance lawmakers. I would appreciate you in driving this idea forward more and making a change to corrupt practices. Thank you for your time in acknowledging my letter, Ryan Maloney |