Introduction
The entire world has experienced dramatic economic change in recent times. The 2007-2008 economic crises are responsible for this economic change. Many nations around the universe have experienced in one time in their development path various economic problems. The macroeconomics problems that the nations experience include inflation, financial market collapse, unemployment, and inflation among others. The scarcities of the resources are responsible for these problems since these resources fail to satisfy human needs and wants. Nevertheless, various interventions measures have been applied to solve these problems as suggested by different schools of thought. Egypt is one country whose economy is at risk because of various economic problems. (Neil 56) The indicators show that there has been an economic growth fall between 1% and 2%, decline in hard currency reserves, decline in foreign investments, budget deficit, fall in tourism proceeds, and increase in general debt. (Robert 9) The devise of both political and social institutions is the only basic intervention measure that will solve these problems through mobilization of human energy and economic sectors for productive purposes that are crucial for economic growth.
The source of these problems in this country is humankind and not nature. The economic society has the task of ensuring that the country’s economy is regained. Therefore, a systematic economic analysis will be imperative in solving these problems. (Robert 5) This economic analysis wills aide the government in singling out the functions, which the social organization must carry out to bring human nature into the social harness. For that reason, the rulers must aim to achieve a society that is in a position to organize a system that will assure there is production of goods and services that are enough for its own survival. In addition, this society must be capable of arranging the distribution of production fruits to enhance more production.
Based on the mentioned problems that the country faces, the society needs to create an atmosphere that is suitable for attracting tourists and investments. (Nawar 270) It is also vital for creation of economic conditions that will ensure there is re-launch of money market. The society in addition needs to institutionalize investment transparency and develop the banking system. It is also important for the monetary and financial sectors of the country to be protected. Finally, the society needs to consolidate democracy and fight corruption if these problems have to be eradicated. The problems that our country faces are mostly faced by the societies that are run by tradition. These societies lack leaders who have the necessary skills and knowledge to mobilize the resources present for efficient production and distribution of goods and services. The traditional societies lack a concrete plan for economic development hence this results in their economies experiencing some of these problems. Therefore, in my views, this system is not an effective solution to the production and distribution of the goods in the society. This is because of lack of knowledgeable leaders that the modern societies require to formulate economic development manifestos.
However, tradition can be a better solution to these problems in Egypt. This is because most of the societies that are based on this concept solve their economic challenges very manageably. Nevertheless, this will be determined by the leaders in position since one of the reasons why this system fails to be ban effective solution is because of unknowledgeable leaders. The traditional societies ensure that the skills and jobs are staffed from one generation to the other. These societies play organizing roles in the economy.
Works cited
Neil Hollingsworth. "Egyptian tourism figure impresses international investors". Rivermead Global Property. Retrieved 5 July 2012
Nawar, Abdel-Hameed "PPI and Measuring Inflation in Business Transactions in Egypt", Cairo University, manuscript, March. Available at SSRN:http://ssrn.com/abstract, (2008)
Robert I. Heilbroner: “The Making of Economic Society, the Economic Problem,” (2007)
