Why is it important for us to understand the advantages and disadvantages of different economic systems?
- 3 months ago
Learn how different things work and maybe create something of your own that might blend some of the better features of each.
- Anonymous3 months ago
You will know what system suits best for your country during certain periods.
- LLv 54 months ago
So you can make the proper decision about the world.
- RayLv 64 months ago
It's important for us to understand the advantages and disadvantages of different economic systems so that we as voters can make an educated vote.
When a peoples make an uneducated vote, particularly on economics, they bring in politicians which push out investors [thus prevent growth] and occasionally push out the local producers. We saw this play out in Detroit a few years back.
When people make an educated vote the opposite occurs, Bermuda is an exceptional example, the average wage in the island rivals that of low-population oil rich territories [like Dubai, Qatar, etc].
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- 4 months ago
Capitalism is a failure. Socialism should replace it.
- OiyLv 64 months ago
We can vote for the right guy to run the system.
- JuanBLv 74 months ago
So you know what you are getting into. None of them really work.
Economics teaches us capitalism and says: Assume Capitalism is perfect. Therefore Capitalism is perfect. Note: A disadvantage of capitalism is it is far far from being perfect.
- SandyLv 74 months ago
if you learn them, you won't have to pay and rely on a business manager to understand for you. sometimes they take your money and because you're so stupid, they rip you off bigtime!!
- Anonymous4 months ago
So you can support politicians who advocate for the system you think is best. I like capitalism with a bit of heart thrown in.