Econ 101

Melissa Bell
ECN 101
Professor Grob
Assignment 1
1-23-11

What in your view is the most important value to consider when evaluating economic problems or systems?

There are a wide range of important values to be considered when evaluating economic problems within our system. The first that come to mind are the ones that will benefit the majority of working class Americans like myself such as; government assistance, an increase in minimum wage, affordable healthcare for all, free education for all, and low unemployment rates.
After reading the article “Economics & Economists,” I felt that I did not identify with one single group. I agreed with different aspects from each of the four groups but mostly with the Liberal Economist partially because of my upbringing and from the ethical aspects. Liberal Economist are willing to have the government intervene in the market as to prevent economic instability (inflation, unemployment, etc.).
As a nation we are all aware of the potential hardships that a negative economy such as our own today can bring. For instance, I started off the year (2010) with a new job with DSHS as a MAS3, which paid more than the last, there were more opportunities for promotion, and I walked in knowing it was going to be a good experience for me as well as look good on my resume. I was optimistic. About half way through the year, again the state starts their hiring freeze which prevents me from becoming permanent and then there were a few scares of us being laid off in July. Somehow they were able to find funding to keep us through the end of the year (December 31st, 2010). However, that was all they could do. So I along with four other temporary employees am out of work and collecting unemployment. About a week after we were laid off, I found out from an ex co- worker that they are now hiring for eight positions as an MAS3. This goes to show how unstable our economy is. Liberal Economist try to make the economy as stable for us as they can.
Works Cited

Bonello, Frank J. and Isobel Lobo (2008) Introduction: Economics and Economists: The Basis for Controversy. In Bonello, Frank J. and Isobel Lobo [Eds.]. Taking Sides: Clashing Views on Economic Issues, 13th Ed. (pp.xiii-xvii). New York: McGraw Hill.

Cited: Bonello, Frank J. and Isobel Lobo (2008) Introduction: Economics and Economists: The Basis for Controversy. In Bonello, Frank J. and Isobel Lobo [Eds.]. Taking Sides: Clashing Views on Economic Issues, 13th Ed. (pp.xiii-xvii). New York: McGraw Hill.