Reference no: EM131683623

Can you please answer this question? and before answering the question can you please read the paragraphs that is under the question, so you can understand exactly the way i am looking to be answered. Thank you Very Much.

Where Will the Money Come From?

Although the chapter this week covers Economic Development, it overlaps significantly with topics and information from the previous chapter(s). Many problems and much conflict in the world stem from a lack of economic development (not enough jobs, not enough schools, etc). However, economic development requires time, money, and a variety of other resources (both physical and human), and those resources need to come from somewhere.

People often say that a government should do "this" or do "that" to help. When people say that the government should take care of something or that an organization should help, people usually ignore the fact that most solutions require money to pay people to carry out that solution. (Volunteer work is the exception, but that too is a finite resource.) How can you solve economic problems without resources and/or money? Where are those resources and/or money going to come from? Whatever your solution is, think about the fact that someone needs to do something as part of any solution, and few people are in a position to do that "something" for free. Most people need a paycheck to live.

One example of the above is how can there be so much food in the world but so many people still starve to death? Yes, it is horrible and sad, but who is going to pay for the production and transportation of food? Who is going to pay for the doctor's when people get sick from spoiled food? If you answer, "They should monitor it," that answer is not based in the reality of the problem. Who is "they" and where will the money come from? If you say "The government should take care of it," remember that the government is made up of people who need a paycheck just like everyone else. The money any government uses must come from somewhere to pay people to do the work just like any other organization or company that must hire people. (The solution is not just to print more and more money - it doesn't work that way. I encourage you to take a macroeconomics class if you don't understand that.)

I am not meaning for this to be a specific conversation about food shortages nor a political commentary. Neither is this a "right" vs "wrong" answer. But, the next time you say, "They should do something about it," remind yourself that the money required to "do something about it" needs to come from somewhere. What is the solution? Think about it and express your point of view in your post.