Understand Society By Economics

Another reason for studying economics is to understand society better. Post and present economic decisions have an enormous influence on the character of life in a society.

The current state of the physical environment, the level a, material well-being, and the nature and number of jobs arc products of the economic system, To get a sense of the ways in which economic decisions have shaped our environment; imagine looking out oft top-Floor window oft high-rise office building in any Large city. Tho workday is about to begin.

All around you are other tall glass and steel buildings full of workers. In the distance you see the smoke of factories. Looking down, you see thousands of commuters pouring off trains and buses, and cars backed up on freeway exit ramps:You see trucks carrying goods from one place to another. You also see tho face of urban poverty:Just beyond the freeway is a large public housing project and, beyond that, burned.out and boarded -up buildings.

What you see before you is the product of millions of economic decisions made over hundreds of years. People at some point deeded to spend time and money building those buildings and factories. Somebody cleared the land, laid the tracks, built the roads, and pro. (lilted the cars and buses.