Frequently, when economics are discussed people falsely believe that everyone has the same underpinning moral evaluations or the same ideals or objectives to what a economic system should do. As economics is an interesting combination of mathematics, politics, history, morality and law it is no surprise that we come to such wildly different outcomes to what type of systems we propose in terms of the relation of the government in said system, in spite of the fact that we all probably have a very narrow idea of what type of society we would like to live in.
I propose the following experiment: to list in the order of preference what you think a economic system should provide in the order of importance; if you think that the system shouldn't provide at all for the specific line item then mark an N/A next to it. Or just group them in "Should be an area of government involvement", "shouldn't be an area of government involvement" and perhaps a "depends" category. These are just examples, feel free to list these as part of your evaluation and/or create your own. Explaining why you decided what you did will be enlightening for all.
I eagerly await your responses.
*) The system should provide encouragement for social mobility. Merit should determine people's ability to rise in society, not birthright or arbitrary class.
*) The system should provide price stability and combat inflation.
*) The system should provide for the best possible degree of personal freedom in economic terms, freedom from regulation and taxation
*) The system should encourage and provide means for research and technological discovery
*) The system should levy taxes to promote the construction of worthwhile public assets (i.e. infrastructure)
*) The system should provide a 'safety net' against extreme poverty
*) The system should provide in protectionism of select industries
*) The system should subsidize, pay for or otherwise encourage education
*) The system should levy a progressive income tax
*) The system should levy a flat tax
*) The system should regulate the business in matters of public health or pollution
*) The system should seek to disrupt monopolies and cartels
*) The system should regulation licensed occupations
*) Trade should be unregulated/free between countries
I propose the following experiment: to list in the order of preference what you think a economic system should provide in the order of importance; if you think that the system shouldn't provide at all for the specific line item then mark an N/A next to it. Or just group them in "Should be an area of government involvement", "shouldn't be an area of government involvement" and perhaps a "depends" category. These are just examples, feel free to list these as part of your evaluation and/or create your own. Explaining why you decided what you did will be enlightening for all.
I eagerly await your responses.
*) The system should provide encouragement for social mobility. Merit should determine people's ability to rise in society, not birthright or arbitrary class.
*) The system should provide price stability and combat inflation.
*) The system should provide for the best possible degree of personal freedom in economic terms, freedom from regulation and taxation
*) The system should encourage and provide means for research and technological discovery
*) The system should levy taxes to promote the construction of worthwhile public assets (i.e. infrastructure)
*) The system should provide a 'safety net' against extreme poverty
*) The system should provide in protectionism of select industries
*) The system should subsidize, pay for or otherwise encourage education
*) The system should levy a progressive income tax
*) The system should levy a flat tax
*) The system should regulate the business in matters of public health or pollution
*) The system should seek to disrupt monopolies and cartels
*) The system should regulation licensed occupations
*) Trade should be unregulated/free between countries