Economic Goals

Australia & Liberia

achievement & success with economic goals

When people are given economic freedoms, they are allowed to do anything- to raise and lower prices as they please, or to sell products how they want to. With economic equity, people are given the same chances to succeed, but not everyone is able to achieve the same outcome. Economic freedoms impact/interfere with economic equity because with the lesser amount or rules there are, the distribution of wealth becomes more unfair. Although all people have the same chances for success, it is easier for the more wealthy people to gain a better outcome and to succeed than a less wealthy person, making the distribution of wealth unfair.

Australia

Economic freedoms- the judicial system runs independently and impartially, property rights are secure, and there is very little corruption.

Economic security & predictability- trade and investments with other countries, such as China, can build trust and friendship and further protection in a time of economic disaster.

Economic equity- the gap between an equal amount of wealth is getting larger. Those on the top are receiving five times as much as those on the bottom.

Economic growth & innovation- committed to innovation and science. Supportive of high-quality research outcomes and entrepreneurial activity. The Australian Government created a National Innovation and Science Agenda, which encourages Australians to take on new ideas, embrace risk, and increase collaboration between industry and researchers.

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Liberia

Economic freedoms- there is a lot of political interference, property rights aren't protected very well, and corruption is slowing down economic freedom.

Economic security & predictability- Following the Ebola crisis, the government increased subsidies for education and health care and received higher levels of subsidized food aid from international donors.

Economic equity- people in rural and poor communities have lower inequality than those who live in the capital city, which achieve most of the nation wide wage income.

Economic growth & innovation- UNICEF has helped to create a communication link that helps young people to share information about the things affecting them and their communities. They are then able to receive solutions through their mobile phones on a free text message based program.

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