Our life is like a pie. It is divided into three parts--- economics, social and political. They are interrelated with each other because they satisfy our needs and wants. However, although they are interrelated, the economics part takes the huge slice of the pie because it is where the things that are essential for us to live belong. The basic needs like food, water and shelter are found in this area. We need these things in order to survive. The social and the political, on the other hand, have equal slices. The social part enables us to interact and build relationships with the people me meet in our everyday lives. Meanwhile, in the political, we practice our right to negotiate with others so we can get what we want. The exchange and division of goods happens here.
In class, we define economics as the “production and distribution of goods and wealth”. However, these are not produced equally because they are scarce or limited. Adam Smith once said that a man, by nature, is selfish. Though we may not be fully aware of it, we become selfish because we want to have what is best for us. At times, we are like crabs; we don’t care what the others feel, as long as we are happy and contented.
In the article that we read, the world is divided economically by means of the three periods in history: Liberalism, Neo-liberalism and Marxism. Each one of them has different perspectives on economics, and they have changed people’s way of living. For example, when the invention of the machines was born, the production of goods and wealth increased. The unemployment rate grew because the machines were doing most of the job. Because of these machines, there was an abundance of goods and wealth and they were somehow beneficial, most especially to the elites and the entrepreneurs, who became even richer as they received more money, while the others were not. For this reason, some were forced to be involved in illegal operations to support their well-being. As Peterson mentioned in his article, “growing inequalities drain people’s sense of inclusion in a global community; increase feelings of frustration, despair and resentment; reduce the likelihood of people working together for common goals.”
From our class discussion, I learned that we should learn how to listen to the voice of those who are greatly affected--- the poor. They are the ones who suffer because of our selfishness and own desires. We should think beyond the box (critically) so we can find the best alternatives to help them have a more comfortable life. Like what Nash proved to us, we could work together for a greater good. We don’t need to be like crabs in order to survive in this world. If we only compromise, we will be able to solve this global concern.
In class, we define economics as the “production and distribution of goods and wealth”. However, these are not produced equally because they are scarce or limited. Adam Smith once said that a man, by nature, is selfish. Though we may not be fully aware of it, we become selfish because we want to have what is best for us. At times, we are like crabs; we don’t care what the others feel, as long as we are happy and contented.
In the article that we read, the world is divided economically by means of the three periods in history: Liberalism, Neo-liberalism and Marxism. Each one of them has different perspectives on economics, and they have changed people’s way of living. For example, when the invention of the machines was born, the production of goods and wealth increased. The unemployment rate grew because the machines were doing most of the job. Because of these machines, there was an abundance of goods and wealth and they were somehow beneficial, most especially to the elites and the entrepreneurs, who became even richer as they received more money, while the others were not. For this reason, some were forced to be involved in illegal operations to support their well-being. As Peterson mentioned in his article, “growing inequalities drain people’s sense of inclusion in a global community; increase feelings of frustration, despair and resentment; reduce the likelihood of people working together for common goals.”
From our class discussion, I learned that we should learn how to listen to the voice of those who are greatly affected--- the poor. They are the ones who suffer because of our selfishness and own desires. We should think beyond the box (critically) so we can find the best alternatives to help them have a more comfortable life. Like what Nash proved to us, we could work together for a greater good. We don’t need to be like crabs in order to survive in this world. If we only compromise, we will be able to solve this global concern.
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