Nina Gunderson Hour 1

Economic Goals and Values

How achievements of one economic goal impacts/interferes another:

  1. Economic Freedom connects with Economic Equity. If citizens are able to choose which opportunities to participate in, they can use their own creativity to start a business by selecting where their inspiration will come from. People can choose which products they see as most beneficial and that will eventually help the business leaders think of new ideas to keep those buyers interested. If there is a fair distribution of wealth and minimal government intervention, the innovative people have an easier time running a business and having faith that it will grow. This also connects to Economic Growth and Innovation. If people have the freedom to come up with their own ideas to better the economy, there’s a higher chance of it succeeding and helping the future of that area. Economic Freedom may interfere with Economic Efficiency because if people have the freedom to take business risks, it could hinder the reliability on a certain product to not get wasted. This would then affect Economic Security and Predictability because risky decisions could lead to disaster within a company which would affect many individuals invested in that specific product.

Technology in Relation to Economic Values

As ranked #1 for the most developed country in the world, Norway has 116 cell phone subscriptions per 100 people, but Ethiopia only has 32 per every 100. This comes from a lack of outside resources and information needed to obtain technology. Ethiopia lacks in economic innovation while Norway excels in it. Norway has a well suited environment for their researchers and inventors to grow and improve their future. 96% of Norway's population has internet access while only 2.9% of Ethiopia's has access. This hinders Ethiopia's ability to provide their citizens with current information and access to the world around them. In Norway, students spend an average of 17.5 years in school while Ethiopians only spend 8.5. This dramatic difference supports the claim that Ethiopians suffers to provide enough opportunities and advancements for their people to grow.

Violence vs. Security

With a prison population rate of 72 out of 100,000 people and 26.8% of women violently assaulted, Norway values economic security and has clear systems put in place so crime and violence does not frequently occur. On the other hand, Ethiopia has a higher rate of women who are violently abused standing at 56%. As for prisoners per 100,000 people, 136 serve time in. With a lack of resources and power, the crime rate is higher than in more developed countries that can afford extra protective forces.
Big image