Developed nations, especially America, are just scummy. Using third world countries as pawns in the cold war, forcing countries into debt traps with their loans. If the developed world would just help underdeveloped nations then the entire world could improve greatly. Just take a minute to imagine if rather than wars being far throughout the early 20th century, the world worked together to improve all nations. Yes this is a perfect situation that could never actually happen, but if the world could open their eyes, work together, so much could get done.

Keynesian economics. When I saw that I remembered it vaguely from my junior year of high school but couldn’t remember its meaning. So I googled it, here is the definition: “Keynesian economics (/ˈkeɪnziən/ KAYN-zee-ən; or Keynesianism) are the various theories about how in the short run, and especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy).” I think that a return to this would be very helpful to the US economy. I feel that big business and corporate greed has slowly destroyed the system that made America great. I think if we returned to the ideas we utilized in the 50’s and 60’s we would experience serious growth economically and be able to stay ahead of the BRIC countries.

In the Culture, Markets… Reading, I found it interesting to think of how the industrial revolution led to a new found sense of imperialism. Everyone needed resources and trade, so many countries thought it easier to envelop weaker nations within them, in order to have free trade access to their resources. Another interesting tidbit is how industry can effect ideology. The reading mentioned how after the industrial revolution, government became a representative of the people rather than of god.

After reading “The New Second World,” I wonder if America can keep up with the BRIC. Our population is not growing as fast, not that I think we would want it to because that can cause other issues that are very apparent in India and China. But more pressingly, our capitalist greed that exports our factories abroad to save money and aims for profits rather than improvements makes me think we will fall behind. Our infrastructure will remain stagnant while we invest internationally rather than domestically. I fear this will allow one of the BRIC countries to take over as the dominant economic country.

I have a critique of one of your statements Prof Luke. You say we all have a problem where we want more or better things. I may be the only one, but I honestly do not care for more, for better. I like old style dumb phones with T9 text, I have a 2008 car that I bought used and will keep until it stops taking me from point A to point B. The only thing I splurge on is my gaming equipment but not even really there. I just get what I need and nothing more. I also like to give more than I get for myself. I donate money and time back to the community for causes I believe in. Not everyone has that problem of wanting “More”

Capitalism, Socialism, and Communism. I have some ideas on this. Communism is flawed because it lacks incentives for improvement. Capitalism is more flawed because it promotes greed and abuse of the less fortunate. Socialism is unique, because what I have noticed is, America is already a partially socialist country, we have programs such as social security, and income assistance that takes money from the young and the wealthy and redistributes it to the old and poor. I would like to know where my peers stand. Are you a fan of the socialist programs that we have, do you think government should have a bigger influence in our economy, or are you a fan of dog eat dog economics and just let the market do its thing.

This post may spark some controversy but when I was reading the topic of Health Care was mentioned. As A Bernie Sanders supporter, I would like to know anyone’s thoughts on the current health care system, his proposed universal health care system, or any ideas you have on a good health care system. I personally am a big fan of Sanders’ proposed system, it would raise taxes but end premiums, growing up this would have saved my parents $4,000 a year.

I never knew how countries were originally classified as first second and third would countries and never knew what BRIC stood for. I find it interesting how we basically biased thew system to make our allies better than our enemies when we classified them.

I liked the point you made in the first reading. The point that there is no clear starting point in an economic class. Economics when you break it down is a big flow, no beginning or end.

2nd Post. My goal and what I expect out of this course is just to expand my knowledge of economics. I am unsure of my future major, my future career, or where life will take me. But I feel that the more I know about economics, the more I can do with any future degree I pursue. It will help me in business, finance, economics, accounting or just general life knowledge.