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Economy and Employment Interventions

  1. wtaylorjr2001 profile image77
    wtaylorjr2001posted 4 years ago

    How do you think we can improve the economy and employment situation? I have a theory and I'd like input on it. If more entrepreneurs add new products and services to the national  and global economy,  shouldn't the economy improve regardless of what Obama does? If we make more valuable new things to trade, shouldn't the economy stabilize?

  2. Dame Scribe profile image60
    Dame Scribeposted 4 years ago

    I think new products is good smile problems will usually arise from 'industry standards' that must be met and usually very strict for consumer safety, if any exists especially for 'new' products.

    1. wtaylorjr2001 profile image77
      wtaylorjr2001posted 4 years ago in reply to this

      Thank you very much for your insight. A part of systems engineering and an optional part of systems science is the creation of a systems specification. In this specification is a requirements specification. Any concern related to industry standards must be included as a feature for the product or service. Cost concerns and failure rate projections as well as materials specifications and design specifications are all part of systems specifications by the way. There is much to be said for the adage proper planning prevents poor performance. Which brings me back to the original question. I believe that it is our duty as Americans to answer that question. I think the economy is in our hands. We are the ones who create and profit from the products and services that drive the economy. The overall system that incorporates this needs to be as effective as possible.

  3. Dame Scribe profile image60
    Dame Scribeposted 4 years ago

    Success will depend on the scales of supply vs demand not to mention the play on pricing that occurs which I think causes problems tongue opportunists have no qualms to take advantage of consumers when a product is in demand due to lack of supply hence 'greed' comes into play. Then we have those that don't practice such shennanigans and they get 'shut down' for offering freely or near that, due to undercutting competitors tongue it can be a vicious cycle over all. Something has to be in place where such stupidity and greed is cut off at the knee's to make supply more easy to flow to the consumers and that is where gov't can come in to help with over hauling and updating policies or laws.

    1. wtaylorjr2001 profile image77
      wtaylorjr2001posted 4 years ago in reply to this

      It may be that pricing is not so big an issue in a wealth generation system. Pricing determines profit. In order to increase the profit while driving down the price, more units must be sold if the cost of production is kept constant.  Information products such as schematics, or programs, or books, or movies, or games is where I believe that the future is headed. We already have 3D printers for around $500 that can make cell phone casings, combs, bowls and plates, and art. Selling and trading the informational representations of these objects(schematics for example) and using 3D printers to actually build the thing decentralizes the means of production in certain industries. This is good for the American economy.  Supply and demand becomes less of an issue as more Americans have the opportunity to create profit. This leads to the essay I wrote on wealth generation systems that are open to the public and free.

  4. Dame Scribe profile image60
    Dame Scribeposted 4 years ago

    Pricing for 3D printers has dropped yes but it's a technology many may not understand. I barely get the gist of it lol and my dad was a manufacturer. I was only answering your question about how to improve economics. A good biz plan will have the basics of what's going to make the biz successful. Growth of the biz will usually require driving the prices up since they take on more equipment for higher production to meet demand. This is understandable. I think I only have a problem with pricing since I was taught prices will raise annually or bi-annually dependent upon market need lol but a lot of businesses raise prices less than that time frame. Sorry, a little off topic lol Information products will only be successful upon reaching the right target market. A variety of topics in informational products can be and is made but still have to be able to cater to different levels of education.

 
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