Have you ever felt like your intellectual efforts were too narrowly focused? Or, that you were missing broader truths somehow? Both have occurred to me lately as I teach some of the esoteric details of economic theory in my AP Macroeconomics course. This is because most economics course material is more-or-less focused on only one type of economic system (a relatively free market economy), and only one general type of government (various forms of democracy). At the same time, it is clear that most macroeconomic thinkers fall way short of grasping the relationship between the market economy as we know it and the environmental destruction of the planet that we see all around. Is it possible that the ENTIRE economic system that we study is doomed to fail in the long run; that it is incompatible with sustainable human life on the planet? (I don’t actually think it is, but it is a question worth pondering).
I focused several lessons recently on these topics, but to help my students really grasp how these things are related, I gave them the following assignment. I’ll just put the assignment in this post, and in future posts I’ll explore some of the possible answers. I have friends who differ from me politically, some who are libertarian, and others who are quite conservative, and I wonder what answers they would give to these questions. So, without further ado–
All the Really Big Questions
AP Macro Research and Writing Assignment
There are not really correct or incorrect answers here, but what is your thinking with regard to the following questions and topics? Don’t just make things up! There are varying opinions on all of these, but use your critical thinking skills. Your worldview should be cohesive!!! These three topics are deeply and completely interrelated.
- Our economic system. From a worldwide perspective, is capitalism as we know it a good system? Why or why not? What would a “good system” of economics achieve? Is China on the right track with large degrees of state control? Is South Korea, with government support of certain industries? The US? Europe? Does success in one country come at the expense of another, or can all countries achieve success and prosperity? If “capitalism” isn’t an ideal system, what would replace it?