Board Social Goals

September 11, 2009 § Leave a comment

Today in class, we read two diaries written by two different high-school students who live in different economies. As we read these diaries from different economic backgrounds, we were able to see that different economies have various board social goals. The class would read these diaries and would vote on which goals were considered the most: We found that market economies have economic freedom and economic growth being the most prioritized, while planned economies have economic security, stability, and equity being their number one priority.

The thing I learned from these goals were that different social goals are different in command and market economies. For example, in market economies, most allocation decisions are made by consumers and producers in markets, while in command economies, resource allocation established by central planners.

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