The first thing to being a world citizen is to know what is going on in the world right now. Why can’t many African countries build a railroad across their country, the basic criterion to judge governance? Why does Somalia have so many pirates, but its government not have a resolution to deal with it? Why does North Korea have a really powerful leader to sustain stability but find it hard to feed its citizens? All in all, it’s the matter of the political and economic system of a country, which has a crucial influence on countries’ competence, development, and industrialization. The political and economic system involves three major actors: government, employer, and labor. And in different theories, each of these actors has differing power. Therefore, as a world citizen, it’s important to have a brief knowledge of the political and economic system of a country; then it’ll be more logical for us to transform the question of “Why does Germany’s election matter?” to “What if Merck isn’t elected?”
We can spilt this into three categories: classical economics, social economics, and government intervention. When talking about classical economics, the main concept is the free market and the invisible hand, which was proposed by Adam Smith in 1776. Adam Smith said only when people act in their own best interest will the market balance demand and supply and create the extra surplus for the society.
And his theory was expanded by David Ricardo, who promoted the principle of comparative interests. Ricardo agreed with Smith, and he thought the most efficient way is for people to all do the job which they are best at. This approach evolved into neo-classical economics, but with the same idea, that they all accept the golden rule: The free market is the shortest way to well-being and economic development. For the countries that haven’t developed, they believe the problem is that their market is not free enough; therefore, they should minimize the role of government and let the market do its job. Basically, this is the aim of establishing the IMF and GATT: to ensure countries don’t use tariffs as a weapon to avoid imports and disturb the functioning of the free market mechanism.
And when we put this into the political party spectrum, it’s on the right side. Right side means: less government, conservative, and nationalism.
Highly recommended places in Vancouver (Written at March 21, 2014)
Many great things and stuffs to look and purchase
Great night view!!!!!(start about 7:00pm., it’ll go dark really quickly, so make sure your camera works)
And there have some shops provide fresh sea food, which you can choose and ask them to cook for you!