Wednesday, September 4, 2013
9/4/13 Current Event
This week we talked about the three different types of economies. There are Traditional, Command, and Market Economies. Out of the three, I would like to elaborate on Command Economies. Born of Karl Marx's ideas, Command Economies function with the government as the leader. The government supervises allocation of resources to the factories through central planning. The advantages of such an economy are that funds and time are allocated for advertising, and marketing can be used for other purposes. Socialism and Communism are two types of Command Economies. I understand why a nation that has been starving or in need would jump at an economy that provides them with everything, but overall it is not good for them. There is little entrepreneurship because everything is provided. For the same reason, the quality of goods is lower. There is hardly any motivation to use resources wisely because there is no private property. In class we have discussed what economy we think would be best for Weserville. I believe that a Command Economy would be a poor choice for Weserville because the residents would almost surely take advantge of being provided for. That is all for this weekly evaluation. Live long and prosper.
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I also think a command economy is bad for Weserville because of lack of entrepeneurship and freedom. My opinion is that a market economy would be best, because it has worked in America.
ReplyDeleteI agree completely. I dont think a command economy is good. There are two many cons to balance out the pros. I believe that a market is the best because it gives choices and makes people more motivated to do work.
ReplyDeleteYour statements and opinions are great. I really agree with how a Command Economy for Weserville would possibly the worst idea for the town. I enjoyed this past week.
ReplyDeleteThe problem with command economies means that with the little entrepreneurship going around, there is also little innovation.
ReplyDeleteI agree with everything stated here. a command economy would probably not be the best ting for Weserville. You are right either they would take advantage of it, or they would be completely against it and fight it. Also I don't believe Weserville possesses the resources to sustain itself, without others help. A free market economy would probably do well in Weserville for the fact that something tells me the people of Weserville probably like their freedom and aren't huge fans of involved governments, so they would likely support this type of economy.
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I'm gonna hop on the command economy hate boat. Its a terrible choice for Weserville. The products will become terrible because they wouldn't need to be of high quality, and people wouldn't be able to go to the malls outside of town and get the goods that they need.
ReplyDeleteI will too hop on the command economy hate boat. it would be a terrible for The USA because there is to many citizens and eventually riots would break out and people would die. Also no power to the people.
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