Tuesday, December 9, 2014
Cat Potts, Epilogue, Question 2
The epilogue of Naked Economics answers the question which many people who study economics ask: "What about the humanitarian aspect of economics?" We've discussed this in class nearly everyday, whether it be regarding sweatshops or unemployment or poverty. Wheelan reminds us that economics is not an exact science (because if it were, heaven knows we wouldn't be swimming in trillions of dollars of debt and an ever increasing wealth gap), but rather a set of tools which we can use to attempt to better our lives. But, that doesn't mean that economics is irrelevant. At the very end of the epilogue, Wheelan points out that there is an economic aspect of every major issue which our society faces today. So, how do we find the balance? How do we use our knowledge of economy to better the lives of everyone, not only financially but also on a level of basic human need? We have the knowledge and capabilities to positively affect change. Can we predict exactly what the outcome will be when we try to make the world a better place? Of course not. But we have to try. Wheelan mentions that "our fiscal trajectory is unsustainable." Is it just me, or is that absolutely terrifying? One day, things are going to come crashing down. And if we are left financially broken and cannot even manage to communicate with one another properly and come together as a society, how will we ever progress?
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