It's the Economy

     The economy is everywhere, there is no escaping it, it's part of our everyday life. Although we all experience the effects of the economy, we do not all have the same experiences on how the economy effects us. One different experience could be whether or not you live in a country with a capitalist economic system or more of a socialist economic system. Just like we learned in class, there are endless possibilities and methods to improving the economy but also worsening the economy as well.

      

      In the past, most men in the U.S did not worry about going to college or deciding what job they were going to have after high school because they all knew that there was a factory job waiting for them in their home town. This was considered the industrial revolution. The industrial revolution era helped changed some parts of the economy, but at the same time it created other problems. One of the problems were that the industrial technology benefits were shared unequally causing some factory owners to get wealthy, while the workers were still in poverty. Later on, factories started closing down and factory workers were being laid off left and right. The reason for this, is something I think anyone would do if your goal is to make a profit, and that is to find workers who will work for as little money as possible. And the only way to those kinds of workers is in low income countries. You can save a lot more money buying products from china than buying it from the U.S and from that the U.S went from factory work to service work.

http://www.history.com/topics/industrial-revolution

Besides factory work, another concept that can changed the economy is self employment. Self employment was very popular and common during the industrial revolution. During that time most of the labor force was self employed compared to today. I'm going to assume that the percent of self employed workers never increase once Walmart and McDonalds were establish throughout the country and even throughout the world. Now in today's society most self employed workers are small business owners, artists, carpenters, etc. My mom is also considered self employed. She owns a home daycare. Her business is effected by the economy just like all other businesses. When unemployment goes up, more parents can stay home and take care of their kids instead of taking them to daycare and vise versa.

http://www.stevepavlina.com/blog/2006/07/10-myths-about-self-employment/

            The economy is always going to keep changing. It will keep going through the same pattern as it did in the past. Some points in time the economy will rise and in other times the economy will fall. The difference is how it will rise and how it will fall. As time goes on we will continue to create ideas on how to improve and we will also go through trial and error as we attempt new methods. Who knows what will happen to the economy, only time will tell.