Saturday, March 31, 2018

Military spill over


In regard to Economics, my knowledge came from the things I hear from the news, from my conversations with people, from my family, from the TV, social media, and so forth. The book taught me a lot of different thing about the economy, how things works and how things flows, as well as it how the government is very powerful and has huge control of the economy.

In the Economix book, on page 152, Goodwin discussed about “spillover,” specifically military spillover. I thought it was very interesting how he basically said that most of the technology advances produced things that are supposed to be just for military used but “spilled over” to the rest of the economy.  Advances in military technology will just lead to even more disaster and trouble, which we already saw with the arms race. The amount of money the government invest on military technology is so much that they could have potentially use that money to investing on  health care, wages, educational programs, and such; investing in these will  benefit more live of people in need. In addition, these “spilled over” products are “accessible” to most people that they are making even more money and using that money to invest on the military. I see it a little bit hypocritical when the government keeps advertising about making people's lives better  by doing this and that but in the end they just hurt the people by making them pay more but wages are low. As a student and working part time, it is very hard to balance my things out. Especially because of tuition is pretty high, which makes us student take loan making us go in dept. If only the government spent more money on educational programs and helping college student, I think it will benefit the economy better than investing on nuclear bomb, but this is just my opinion.


2 comments:

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    1. Thanks for sharing John. I think your post also raises the question of opportunity costs, resource allocation, and the government's responsibility. I also agree that these funds could be more efficiently allocated to a different sector.

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Be it Resolved that: In all medical decisions (sexual, psychiatric, cosmetic' and so on) the individual/patient should be free to choose.

Be it Resolved that: In all medical decisions (sexual, psychiatric, cosmetic' and so on) the individual/patient should be free to choose...