Econ Assessment

Deeper Meanings

GDP- Gross Domestic Product

Of course, there is a text book definition of this, but in my eyes it means much more than what google says. Basically it is the way the government gauges how well off we are. Most would say that the better the GDP, obviously the better off America is doing. I have a problem with this logic. The GDP is a number that represents the overall, or average, on how our country is doing. In tern, there are many individuals who do not fall under this umbrella, and still suffer regardless of how good our economy looks from a alien point of view. Overall, GDP is not a bad thing but personally I do not believe it is a very good representation of the well being of a country.

Income Distribution

Everyone has an opinion, a lot of them do not make any sense regarding income distribution. Income distribution is simply the way, or quantity, in how the money is spread throughout an economy. One of the greatest things, yet sometimes tricky or terrible things, about America is the free market we have. Most would argue that in America anyone can be what they want and as long as they work hard they will be rewarded. Most would agree that this is true to some point, but not always. The problem with a free market is, there is always people who do not make it, always. The person who has worked hard all of their life is not guaranteed anything. It is a very fine line between loving the free market, and maybe thinking some more taxation or government funding would not be terrible. In my opinion, if the world was perfect then the churches and wealthy would care for the less fortunate, but obviously this is not true. The only real, logically, do-able idea is to tax the '1 per centers' a little more maybe, regardless of how much they worked for it. It is all very tricky in trying to figure out when the government should step in.

Unemployment

Textbook definition: The state of not having a job, but looking for one. Everyday, hardworking people lose their jobs that they have worked hard at for years. Again, the harsh reality is, not everyone can get a job. With major companies taking jobs overseas, there is NO way that everyone could have a job if they wanted it in America. Or maybe they could get a job, at MacDonald where they wont make enough to support themselves. There are many problems in this country, with little answers.

Poverty

No one can really fully voice their opinion on a subject that they have little knowledge, and NO personal understanding. America has a problem, a big one. The problem is poverty. Many Americans suffer from poverty everyday, and we as a country do little to help. Hardworking people live in poverty in America, people who try to get a job, but just simply can not. To say that 'those people' should just 'get a job' is not really probable in today's world. These people need help from the more fortunate, although they do not do much. Unfortunately, the government needs to step in.