We all have several questions. Do I have a future of prosperity?

Will I be able to afford a home of my own?

Will my children or I live as well or better that my parents?

These are but a few of the questions we all ask ourselves daily. The answers to these depend on how well the United States economy faces the challenge's of providing jobs, increasing income, and solving the multitude of social problems that we are faced on a daily basis, problems like poverty, soaring medical costs, and the decay of our environment. We could talk for days on the "problems that face us and our economy. However I would like to focus on what I think is the top 10.

1. How should we use our resources and capabilities?

What should we produce, and how should we produce it? This is one of the all time favorite questions and probably one of the most fundamental in all of economics. Why? Because much of economics deals with understanding how people choose to use their resources and analyses the consequences of their choices.

2. Will the standards of living in the United States continue to improve?

ople can afford more and better goods and services. All of this is in turn tied together, the growth in income per person depends on growth in production per person. Any person's income depends on the value of that person's service. When the economy is growing, it in turn generates better jobs for the growing population.

As for most of the 1980's the United States economy expanded fairly steady and unemployment rates fell from a high of 9.5% in 1982 to a low of 5.2% in 1989. Then in 1990 the U.S. economy stalled, unemployment rose and job growth came to a screeching halt. However, from 1992 to 1995 the U. S. economy grew steadily, creating millions of new jobs while inflation remained moderately low at 3% a year.

There is more to life than material goods and services. There is increasing concern about the effect of environmental decay throughout the world. This concern is now international, as it is becoming increasingly clear that the pollution and destruction of environmental resources, such as rain forests, in one nation can harm the environment in the United States as well as in other nations. But sacrifices are necessary to improve our environmental quality. Measures taken to provide cleaner air and water and reduce the risks of environmental disasters such as oil spills will undoubtedly increase production costs, and this increase will, increase the prices of products people want to buy.

The failure of a large number of savings and loan associations and commercial banks in the 1980s is a cause for concern for everyone. Does this mean that it isn't safe to keep our money in banks? Our United States banks are facing increased competition from foreign banks in the lucrative business of financing foreign investments.

Some topics in this essay:
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