TERM PAPER TOPIC
“Americans already enjoy living standards that far exceed world averages. Do we have enough? Should we even try to produce more?”
PROSPAIRITY IN ANY ECONOMY HELPS THE INDIVIDUAL BUT SOMETIMES LEAVES QUESTIONS UNANSWERED. CURRENTLY 70% OF OUR ECONOMY IS BASED ON CONSUMTION BY THE INDIVIDUAL. WHEN THE CONSUMER IS CONSERNED ABOUT HIS OR HER JOB, HE PULLS BACK AND SPENDS LESS. INVESTORS LEAVE THE MARKET… AGAIN SHOWING WHY ECONOMICS THIS IS SOCIAL SCIENCE. WHEN 70% OF THE ECONOMY IS CONSUMTION DRIVEN, HOW IS THIS A THREAT TO THE GROWTH OF OUR ECONOMY IN A MACRO SENCE
One of the issues we face is that we often measure our standard of living by how much we consume. If, as a society, we decide that the quality of life is not measured by how much we consume, rather how well we consume what we have, then perhaps we should not produce more. Instead, it is conceivable we can work less and enjoy life more, thus maximizing our total level of satisfaction.
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