0
Yes. Question is, how do you want to change it? Do you want to ration Natural Resources? Or do you want to create maximum economic growth? If you want to ration natural resources, you need to control the money supply, you need to have higher marginal taxes, you need to have government regulation, you need to have a system of trade controls to assure natural resources aren't taken by the highest bidder but rather by certain trade partners. If you want to create maximum economic growth, you grow the money supply, you lower marginal taxes, you minimize government regulation, you lift trade controls so natural resources go to the highest bidder (who presumably has the highest value use). But you'll use your natural resources faster. If you want something in the middle, then you pick policies in the middle, and then everyone fights over what you should be doing. The benefit to maximum economic growth is that as resources dwindle in supply, substitutionary resources tend to emerge- solar energy for oil, wireless for copper, skyscrapers for land, for example.
Add your answer:
Earn +20 pts
What has the author Tamal Datta Chaudhuri written?
Tamal Datta Chaudhuri has written: 'Commercial policy in an asymmetric world economy' -- subject(s): Commercial policy, Economics 'Rural financial sector' -- subject(s): Financial institutions, Microfinance, Government policy, Rural development, Rural credit
How did the voyages of Columbus change the perception of geography and alter world economics?
== ==
What economic system was based on free enterprise?
Capitalism as found in economics textbooks, not in the real world.
How did economic events during world war ii demonstrate the principles of keynesian economics?
Economic events during World War II demonstrated the principles of Keynesian economics in the sense that spending had gone done dramatically and the economy was stalled.
What is the Laissez-fire policy?
In a truly Laissez-fire economy, the government does not do anything related to the economy. There are probably no truly laissez-fire economies in the world.
What has the author Joan O'Connell written?
Joan O'Connell has written: 'Cambridge distribution in a world economy' -- subject(s): Economics 'On growth and saving'
How did US foreign Policy Change after World War 1?
It did not change until WWII.
What has the author Roy Forbes Harrod written?
Roy Forbes Harrod has written: 'Policy against inflation' -- subject(s): Inflation (Finance), Currency question, Devaluation of currency, Monetary policy 'Dollar-sterling collaboration' -- subject(s): Monetary policy, Foreign exchange, International finance 'Towards a new economic policy: lectures given in the University of Manchester' -- subject(s): Economic policy 'International economics' -- subject(s): International economic relations, Economic policy, Commercial policy, Finance 'Economic essays' -- subject(s): Economics, Addresses, essays, lectures 'Keynes' contributions to economics' 'Towards a new economic policy' -- subject(s): Economic policy 'International trade theory in a developing world' -- subject(s): Commerce, International economic relations 'The trade cycle' -- subject(s): Business cycles 'Towards a dynamic economics' -- subject(s): Economic policy, Economics, Addresses, essays, lectures
What has the author Nicholas Kaldor written?
Nicholas Kaldor, a renowned economist, has written on various topics including economic theory, growth, and development. Some of his notable works include "An Essay on the Economic Theory of Capital" and "Income Distribution: Theory and Policy." Kaldor emphasized the importance of demand-led growth and the significance of factors other than just capital accumulation in driving economic development.
How did political policy change as World War 1 went on?
we are the U.S.A:)
What is economics in China?
The current economy in China is the most rapidly changing economy in the world. It has a large area to farm on aswell.So whenever you go to china,go farming.
How the economy change in US after World War 2?
they pooped on each other
