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RE: ECONOMIC CONTEST

in #contest6 years ago (edited)
  1. Capital Widening- The rate of change for both capital and productivity remain the same.
  2. Capital Deepending- An increase rate of change in capital to produce the same amount.
  3. Factors to affect capital widening is the necessary worker productivity to meet demand. An example maybe the industrial revolution where cars and roads had to be built very quickly and necessary. Factors to affect capital deepening is the same amount of workers producing more. An example is our current age of automation. Where computers are replacing workers on jobs.
  4. The benefits of capital widening is the entire population is benefiting with a lot of work to go around. The benefits of capital deepening is the productivity or problems are solved with less people involved which in turn allows people to have more time solving other problems.
  5. My preference is for capital widening as by nature humans are movers. The need for jobs and stable income for all is critical to the distribution of wealth among all. I personally feel capital deepening will widen the share of wealth to does who have jobs and those who do not. The widening of wealth will only lead to greater in-differences between the rich and poor.

Thanks. Had to look up on all this but learn something new today.

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I am not sure I understand the rate of change and the increasing rate in your definitions, but the rest of your answer makes sense to me. Because of the way you feel at the bottom, I am going to guess that there is a high unemployment where you live?

Thanks I revised my first two answers as I think there was grammar error on my part.

I live in America and in a very well develop city. The problem I have, like others, is I struggle to pay off debt and bills. It's easy to earn some money but difficult to save. This is true in the entire country.

Unemployment is almost virtually nonexistent where I am. There are so many low paying jobs that one can work 24/7 to earn if they wanted to.

Wow! So the capital has invested incredibly wide! That is very interesting to me, thank you for sharing your experience!

Thanks for participating

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