Tuesday, November 24, 2015

Jack McGillivray, Chapter 11, question 5

Something I found extremely interesting from the chapter was the fact that growth is good for everyone. In almost every other circumstance if someone else or your opponent is doing better than you are its a bad thing. However in economics there are no real opponents. If one nation's economy is doing much better than another's it does not hinder the anyone, but instead provides benefits to both of the nations. This can be a difficult concept to understand because of our preconceived notions of competition and what it entails. But global economics is not a zero sum game, one nation doing well will lead to others doing well.

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