Economics Creative Writing Sample

One thing that can be observed and not be denied, is how consumeristic the society has become. Almost every decisions and actions that people make, are inclined to consuming or are influenced by economic aspects. Societies and economies are two things that literally coexists together. The economy affects societies in many ways, by influencing every aspect of people’s lives. Though the current state of an economy may not directly reflect the situations of the citizens in a nation. Even though this chapter discusses a quite technical topic, I was able to find a connection through its practical applications. It may not be very noticeable, but these concepts apply to the everyday lives of people.
At first, free markets may seem very beneficial to people, because it gives greater chances to new entrants. However, the complete lack of government intervention is what puts it at a disadvantage. This type of market system actually promotes much inequality, if looked upon closely. Since everything is privately owned, these businesses are mainly driven by the personal interests of its owners. What makes this an issue of concern is because, those who have bigger capabilities and wider access to resources are the ones who gets a stronger hold on the market and the profits. This is unfair for small scale entrepreneurs, who have limited access to resources, for this also limits their chances of making profit. Because of this, larger companies and corporations tend to monopolize and control the market, which then becomes very disadvantageous not only for small enterprises, but most especially to the consumers. Their capability to mass produce products put small scale businesses at a disadvantage, most especially because they could offer lower prices. However, though they are able to provide lower prices, they make up with this through cutting off the salary of their workers to the lowest cost possible. With this, we will observe a high level of discrimination and the lack of fairness through the market economy.