Why do economists pay more attention to national economies than state or regional economies

Palace economy As long as someone has been making, supplying and distributing goods or services, there has been some sort of economy; economies grew larger as societies grew and became more complex. The ancient economy was mainly based on subsistence farming.

Why do economists pay more attention to national economies than state or regional economies

The team had not won a game in several seasons and lost most by wide margins. The producers followed the team until it finally won one. While most viewers may have regarded this as simply a fascinating sports documentary, what concerned me then and now was the root cause of the decline of this team and the town it represented.

Then the two biggest employers—a brick factory and a plastic factory—closed. When I was growing up I was a batboy for the Knoxville Smokies baseball team and got to travel all over the southeast.

My mother was from Iowa, but four of the seven children in her family moved south. My father was from Tennessee, but five of the ten children in his family moved north. I ended up with aunts, uncles, and cousins all over the country.

This was mostly before the days of the interstates and I rode buses all over the country for the Smokies or to visit relatives. Almost every small town in the South and Midwest that I traveled through had two or three factories and many small businesses.

Then, as commentators as diverse as Pat Buchanan and Ed Schultz have noted, more than 50, factories closed over the years.

Why do economists pay more attention to national economies than state or regional economies

We have raised more than a generation of young, and even some middle-aged people, who were brainwashed into believing that every time they heard the word environmental it was unquestionably good. But closing thousands of factories did not just destroy jobs for factory workers.

It destroyed many management and white collar jobs as well. Then federal and state environmental rules and regulations made it much harder for small factories, farms, and businesses to survive. Almost every college student felt they had to go to some sort of graduate school and far too many went to law school.

We ended up with the best educated waiters and waitresses in the world and a whole generation saddled with student loan debts 1.

Closed businesses and lost jobs go hand-in-hand with higher rates of drug addiction, broken homes, and poorer health. It also leads to a declining population because young people are forced to leave to find work.

President Trump is being attacked on all fronts. Unfortunately, most people will not read his statement on the Paris Accords. If they would, the overwhelming majority would agree with it. Instead, they will read or hear the incessant, hysterical, attacks by the media, environmental radicals, and the far left.

China certainly follows a China-first policy in every way, as do most other countries. It is far past a time when we should have been doing the same. Even though I have followed political wars closely for over 50 years, I am astounded by the hatred those on the left feel about this president.

But his heart seems to be in the right place, with middle and lower income working people. And his policies give at least some hope that the decline in Medora and other small towns can be halted. John Duncan is the U.An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents.

Understood in its broadest sense, 'The economy is defined as a social domain that emphasises the practices, discourses, and material expressions associated with the production, use, and management of.

Economics (/ ɛ k ə ˈ n ɒ m ɪ k s, iː k ə-/) is the social science that studies the production, distribution, and consumption of goods and services.. Economics focuses on the behaviour and interactions of economic agents and how economies work.

Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Why do economists pay more attention to national economies than state or regional economies? c. Discuss the differences between unemployment and underemployment and give examples of each.

Include in your contribution the differences between fiscal and monetary policy and how each would be used to reduce high levels of unemployment. Why do economists pay more attention to national economies than state or regional economies?

- Answered by a verified Tutor Why do economists pay more attention to national. For Jabi, Why do economists pay more attention to national economies than state or regional economies. What factors might contribute to a low level of productivity in.

This notion that economists pay more attention to the national economies is right and wrong. It's right because many "big guys" for example: Central Bank makes most of the headline regarding national economy creating an illusion that it's all the economist concerns about%(2).

The new paper relates to another strand of my research, which argues that economists should pay more attention than has been customary to the evidence provided by surveys of households. A NBER working paper proposed modeling household survey data on inflation expectations using a simple model of disease transmission.

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