Economic Goals and Values

By Brendan Stahl

How economic goals can affect each other.

We are always striving for economic growth and innovation, which involves always creating new things. However, in doing this we always getting rid of outdated projects that aren't new anymore. A good way to describe this process is the phrase "Out with the old, in with the new". Unfortunately this impedes on the goal of economic efficiency. We are wasting all of the items that are no longer new.

Comparison for example

Values of Economic Goals

Australia

Because Australia is a developed country, it can afford to focus heavily on its economy. It values education, health, and safety very highly. It has one in every 100,000 homicides. It has very advanced architecture and people usually go to 20 years of school. Life expectancy is at around 80 years old. With all of these aspects in mind, it is evident that they value their economic goals.

Myanmar

Myanmar is more of an undeveloped country and it is very apparent by the statistics. For starters, the average life expectancy is 60 years old; 20 years less than Australia. Students usually go school for 8 years so they are much less educated. It's also clear from their environment that it isn't very developed.

Economic Efficiency and Freedom

Australia has strict economic policies on how efficient they are on energy specifically. They are highly rated on efficiency and they are very successful with production of goods. The government does not rule over what they produce. They also have freedom to choose where they work and what they want to do. Myanmar is quite the opposite. They are not very efficient on productions because they can't afford to produce much for their own selves. Most of the goods they produce are exported out of the country. In terms of freedom, they have a very limited choice of what they do when they grow up. There is not a large variety of jobs and most are low paying physical labor jobs.

Economic Security and Predictability

Australia has a very large variety of exports and imports and is very steady. Because they have such a wide spread of them, they can be flexible and not have to worry about self harm. Myanmar doesn't have as much exports and so if they lose a portion of crops due to weather or bugs, they would have to worry about what would happen to them. Because of this they cannot sit comfortable and and are not set to maintain a constant future state.

Equity, Growth, and Innovation

In Australia, there is a very even chance for anyone to be well off in life. They have a low poverty rate so where you end in life depends on how hard you try. They also are constantly creating new innovations. They created the Black Box Flight Recorder and since then they have always remained in a high position. Myanmar is a much different case. In Myanmar you are very likely to be poor and it makes it very difficult to work your way up to a respectable position. They also have not really maintained any new inventions and are in no way known for being a innovative country.