Gerunia's Economic System

796 Words4 Pages
Every countries has its own economic system, but is there a most efficient one? There are three major economic systems:traditional, command, and market. But, most countries have a combination of all three because they want a system that can answer the questions of how,whom, and why to produce. For my nation, Gerunia, I think a mixed economic is the most efficient economic system;like the United States which is organized as a mostly free market nation where people are free to start their businesses as well as government has its role in distribution of resources. In Gerunia, the main human capital is engineers. Many people would argue that if everyone is engineers, how is income distributed? Well, there is a guarantee minimum wage. Although…show more content…
Also, there is tax deduction from pay. If tax raises as government need increases then that means people will have to pay more taxes. But if you get pay higher, the amount left after tax is still considerable. A counterclaim against mixed economy is that people with low income is taxed as high as people with high income. In Gerunia, the government need the tax money to regulate public services such as roads, bridges, and police. There is no such thing as a free lunch. The government uses the money for people, including you, to provide a good…show more content…
Education is both government and free market provide. While the government education provide the basic public education till college, the free market education provide private or advance schoolings. In order to become professionalists like engineers, people have to attend specialized schools, engineering schools, to learn the skills as engineers. Many would question the cost of education. If one choose to attend public school, then it is most likely to be free until college. As for free market education such as private and specialized schools, the cost is to be paid off by oneself. It is people’s choice to choose the kind of education they want. In Gerunia, education is the path that leads to better job or profession. Higher education allows one to be have the unique skills others do not
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