How Economic Goals are Valued

Germany vs. Congo (Democratic Republic of the)

How does the achievement of one of the economic goals impact/interfere with the success of other economic goals? 

One example of the statement that the achievement of one of the economic goals impacts and interferes with the success of other economic goals is if we were to try and hold back on over using our natural resources, we might find that it's hard to know that all services will be available when needed. This shows the interference between Economic Efficiency and Economic Security and Predictability.

Germany and their Economic Values

Germany values their economic efficiency well because they are predominantly sourced by fossil fuels and have an abundance of timber, iron ore, salt, and more. Germany has minimum government regulation which shows that they respect their economic goal in economic freedom as well. Germany shows economic security and predictability by the government intervening to make sure that the market process is correct and correct any market failures. Germany also respects the economic goal of economic growth and innovation by infusing old products and processes with new ideas which helps maintain the future standard of living. One economic goal that Germany does not value is economic equality. Germany has the most unequal distribution of wealth in the eurozone.

The Congo and their Economic Values

The Congo was originally one of the richest countries in natural resources. They do not seem to value the goal of economic efficiency because warlords control access to their resources and no one else will get involved. This leads to the resources not being used well. They also do not use economic freedom because warlords have pretty much taken over their country. They also don’t have access to economic security and predictability because the people don’t have access to their goods and services in general. There is not much economic equality in the Congo because the money isn’t evenly distributed well. The whole country is in poverty and the government doesn’t use any of the money to help the people. Lastly the country has absolutely no economic growth and innovation. The government is not trying to improve the country in this way so there is no focus on creating new products.