Thursday 24 February 2011

Lecture 1- Economics and the Keynesian theory

In this lecture we learnt about economics-delightful! so let me start by mentioning this blog may make no sense but here we go...



"Money cant buy you poverty" a strange statement to make but could be a completely relevant one. We use money to gain everything, for most people their whole lives revolve around making money to live an easy life. It is the object of peoples desires and some would do anything to recieve it. It can buy just about everything, except poverty. A person who has money can only choose to go into a less fortunate state of being, and leave their riches, they will never be in a full state of poverty. This is what I took Chris to mean with this statement.



The next issue would be of the individual, he emphasised in the lecture that we will all place a worth over ourselves. We will each have a price that we are willing to accept depending on each persons experience. However in economics, corporations will look at the mass and what the average person would spend on it, rather than think of the individual. This means that they will gain the most amount of money from the mass.

The Kantain system is all about the morals, it believes that certain morals in the universe shouldnt be broken or all will be lost. Keynes theory helped economics with the World wars and the depression because they told of how society should stay busy, meaning people will buy more things so they never got bored or started to think.