Growing up in a rapidly developing world, I have come to realize in the last years of high school how important it is to understand the world around us and how it functions, how certain aspects of society are intrinsically necessary to a well-functioning world. One such necessity is economics. Our world is the most inter-connected it has ever been, with nations being allies with each other, trading goods and services to each other. A lot of the connections that nations have is due to their economic systems; democracies are friendly with other democracies and such. This is because economics is about the ideals of life of the people who reside in that country, and the economy of a country is structured to support these ideals that people believe in.
I study economics in school to have an understanding of how whole nations are kept together, and taken care of under the same authorities. In economics class this year, I researched and wrote an essay and analysis on the American economy under President Trump’s administration. I knew there was a lot that Trump was trying to accomplish, and I decided that I would use my knowledge I learned in economics class to analyze and evaluate the controversial situation.
One of the biggest issues about the current American economy is that the ideals of the authority do not completely match with that of a significant majority of citizens of the country, and the government helping people’s lives and supporting what they wish to do economically is what a good nation needs. However, Trump is using the power and tools that he has to manipulate the economy to his ideals, namely to increase spending and consumption in order for the country to gain more and more wealth. The American economy is such an integral part in the economic functionality of the world, and if Trump pushes consumption and production up so far, prices may go up a lot as well, and this would affect the prices of goods and services all over the world. To engage in making a nation’s people happy is one thing, but the policies of the president of such a large nation need to be thought out and anticipated, otherwise, we as consumers in different countries also get part of the brunt of the impact.
When I am out of school, I would like to continue to analyze the effects and consequences of decisions made in the economic world, recognizing the significance of the interconnected nature of the economies of the world.