Reflective Blog For The Week Of September 22nd

This week in Econ Class we focused on the budget and fiscal cliffs and such. We were asked what we would cut from the national budget and my two things I would have most liked to pick were sort of different. I chose that I would cut federal spending on public schools and spending on federal aid. I wanted to cut federal spending on schools because it wouldn't affect me because I go to private school and it would make everyone dumber so I would have an easier time getting a good job. I would cut spending on foreign aid because we spend way too much money on countries that don't affect us in any way and it is just poor investment. Yesterday we played a game called BudgetHero where we were in charge of the federal budget and we made all of the big decisions. I kept national defense the same but I cut federal spending on education, health care, and social security. I invested more money on science advancement and energy independence. It worked out pretty well and I got the budget to last to 2036 and made made up for 45% of the debt. How did you guys do? What things did you guys invest in and what things did you guys cut? Let me know in the comments below VVV

Reflective Blog For The Week Of September 15th

In econ class this week we mainly focused on the stock market. The stock market is pretty complicated but if you do it right you can make a lot of money. Playing the stock market is like playing poker. You have to know when to bet and when to fold. A good example of knowing when to fold is Bradley. Bradley was way in first but when his stocks peaked in money, he didn't sell them. As a result his high value stocks plummeted and he fell into last place. I did this correctly when I sold my google stock right before it fell by $10. Knowing where to invest is very important and knowing when to sell is equally important. My best stock currently is my NTDOY stock and I have made $1800 on it so far. My worst stock is WDAY and I have lost $170 on it. What is your best and worst stock? Tell me below.

Reflective Blog For The Week September 9th

This week talked more about traditional, market, and command economies. Then we worked on our Karl Marx and Adam Smith dialogues. My partner was Boomer and we focused on the differences between a free market economy and socialism. We argued over the pros and cons of each economy mainly. One main point for our argument was equal opportunity and equal outcome. In a free market there is equal opportunity which is equal chance for an individual to get a certain position and receive a certain salary. Each person is born with an equal opportunity to get a certain amount of wealth. In a socialistic economy there is equal outcome which is each person receives an equal salary and things given despite what job they have. This means that no matter how successful you are or how much of a failure you are, you will still make as much money as anyone else. This is viewed as a more fair system but I argue that it isn't. Everyone may get an equal amount of money but you could be extremely lazy and make as much as a very hard worker. I don't that that is fair at all since hard workers and lazy workers are now created equal. Tell me your thoughts, I think that equal opportunity is far superior myself.

Reflective Blog for the week of September 2nd

This week in economics class we did some basic stuff. First we took our test on the last chapter which wasn't too bad. I feel that the class knew most of the material for the test thanks to the superb teaching by Mrs. Weser, the supreme admin. The next day after taking the test we were introduced to three kinds of economies. We first learned about traditional economies and how this economy is becoming more and more void in our modern world. We then learned about a command economy and how it functions because it is almost a complete opposite of the U.S economic values. We then learned about the economy we are most familiar with, a market economy. In a traditional economy, the values are based off of deep seeded cultures and customs. The main goal of this economy is to survive and wealth is ignored. People in traditional economies mainly trade and it is similar to the Native American economy they had. A common command economy is communism. Communism is an economy in which the government holds all of the businesses and makes all of the decisions. Individuals in these economies have no say in anything and must listen to the government's orders. Everything is owned by the government and they control most of the choices in your life. A market economy is an economy in which individuals own businesses and make all of their choices. Production of resources and distributing of resources is controlled by the individuals in the economy. An individual decides what they want to purchase and what job they desire to have, they have to earn thier job though. The government is in charge of foreign affairs and maintaining balance and safety in the country. The economy is mainly influenced by individuals' choices. My favorite type of economy is a market economy because the individual can make their own choices and where they end up is dependent on themselves. So if they fail it is no one's fault but their own and if they succeed it is because of their triumphs and not the government's.