The success of effective economic system


I have outlined some significant aspect of Economy in this clause. What is a sound economic system? Political stability and patriotic economic policy need to be enforced. Bunch of lazy politicians is a menace for the nation’s growth.

Author: Kamu Budhathoki 'Sarup'

 How can you teach a farmer or factory worker to perform simple tasks efficiently if he/she cannot read or write? Thus, we have to develop the educational system, and to teach children how to read, mathematics, science, engineering, and programming may achieve material wealth, because technologies depend on education.

Therefore, even if we had adequate technologies, we would not even be able to adequately maintain education. And also we need to understand, the use of technologies depends also on the economy of our system.

Subsistence economies, with more advanced economies feature the division of labor, technologies, and trade. However, it will take a long time. Economic-reform programs can survive longer if our workforce become educated. That is why it is important to eliminate the dependable policy.

In summary, the kind of economy and polity determine the ability of the success of effective economic system. As we know, it is clear that a system with an unfavorable geography, or culture, or economy is countries in south eastern Europe enjoyed no such advantage and suffered economic stagnation.

Nations with too many mountains and too few navigable waterways: Tajikistan, Nepal, Mongolia, and Bhutan. If Afghanistan and Tibet were included, they would, no doubt, also fall into this group for the same reasons.

Therefore, the geography of a country is an important determinant of its ability to achieve greater economy. The use of technologies depends not only on geography, but also on culture.

Capital economics affect people in three ways, they create goods and service that people want. Automobiles, telephones, most medicines and medical care by innovators; they improve the quality of goods and services that we already have.

Medicines, foods, clothing, medical care are improved. These are the tools, machines, materials, power sources, medicines, and manufacturing and commercial practices that are transformed into consumable goods and services, comprising basic needs.