In exercise D. on page 52, she asks us to discuss these in relation to aspects of our own and other countries' economies.
Response write on Hartmann's question below.
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Question 1
What is the economic system in the country you live in? If it is a mixed economy, does it tend to be more command or more market? What does the government regulate?
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Reference
It is a mixed economy. I think I tend to be more market than command. Actually, I am not sure what the government regulate. Probable, the price of some goods, the government might set the maximum price that sellers should not sell more than the maximum such as the lottery price now or petrol.
ReplyDeleteMixed economy (market, controlled and tradition in some places far away from the capital city) is the system in my own country, which tend to the market system, command system and tradition system respectively.
ReplyDeleteGenerally, people can sell and buy any products which are not illegal, but most electronic, water and some of main transportation - train, highway, the national airline - are controlled by government.
I think my country economic system is mixed, because there is a short list of goods and services that the government has regulated. Therefore, my country economic system is tend to be more market. They just regulate some of the consuming product that effect most of their citizen, such as sugar, while a bigger number of things has announced under recommended price, which they have limited power to take a legal action, but they would use another way like negotiation.
ReplyDeleteThe economics is mixed systems.It tends to market.The government regulates mostly consumer products,main things for construction,transportation fares, petrol, electricity, water, phone,mobile phone,tuition fee.
ReplyDeleteAustralia has a mixed economic system. It is said to tend more to market systems than control economics, but I'm not sure I agree. The Australian government intervenes in almost everything. I can't think of anything that does not have at least some legal controls on what buyers and sellers are allowed to do.
ReplyDeleteFor example, in health care, the government has laws about who can practice medicine - who must have an approved medical degree and a licence from a monopolistic body that keeps out most people. Citizens are not able to gain medical skills and then offer them at competitive prices because of restrictive government laws.
Similarly, there is a lot of government regulation on what you can build on your own land. The prices for land and houses are largely set by markets, which is capitalist, but once you own the land or the house, you might not be allowed to do what you want. For example, very old houses are often protected by preservation orders that do not allow their destruction, or which require that changes maintain the external facade.
I'm not sure how much control the government exercises over the cost of goods and services, but I think things like taxi fares are controlled by government laws, as are the numbers of taxis. There is only a limited number of licences, so entry to this employment, like for medicine, is controlled: you can't just decide to be a taxi driver, get a car and go. I'm not sure how Uber fares in Australia.
And having read Hartmann's example paragraph on page 63 again, I'm wondering if there remains any similar group in Australia. Or perhaps there are some other elements of traditional economics.
DeleteThailand's economic system is a mixed economy (market and command), and it can be obviously seen that there are more capitalism than controlled, because most individuals can make by their own decisions to do whatever businesses they desire. Furthermore, the government just control case by case as in some businesses such as the rice companies as the economic policies. Besides, there are just few enterprises which belong to or is controlled by the government such as Thai airway. Again, most of enterprises in Thailand depend on individuals.
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