Economic Goals and Values

Zack Schons

Economic goals

Accomplish one economic goal can make it hard to accomplish the others. For example, If you are trying new ways to create goods it can make it hard to make sure you have a good supply of that good. If a country tries to accomplish all of the economic goals, they may not be able to do any of them well.

Australia

Australia is ranked number two in the world in human development index. Its index is 0.935. Australia does very well in all of their economic goals. It has an efficient economy that doesn't create excessive amounts of waste. They have economic freedom and the citizens are able to make economic decisions without to much government interference. Australia has very good economic security and predictability. Australia has a high Gross National Income and about 41% of that is imports and exports. Australia has fairly good economic equity. About 62% of people are employed and the citizens get to choose how they spend their money. Australia Economic growth and innovation is also good. They have the second best Human development index in the world and a strong economy that continues to grow.

Madagascar

Madagascar is ranked number 154 in the world in human development index with a score of 0.51. Madagascar's Economic efficiency is not good. They don't create much waste but they are not able to make the most of their resources. Madagascar has good economic freedom. The citizens are able to choose what they want to do economically without government interference. Madagascar does not have good economic security and predictability. The economy in Madagascar is not strong enough to be predictable. Madagascar has good economic equity with an employment rate of about 85.4%. The growth and innovation in Madagascar is not good. The economy is growing, but very slowly. There have not been much innovation in Madagascar.