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Ways to Acheive Economic Prosperity

 

            The economic cycle can be easily compared to a roller-coaster ride. The unpredictable behavior of the ride is emulated by the volatile nature of the economic markets. However, there are many ways in which to make our economy prosper as demonstrated by economist David Crane: improved education, environmental stability, globalization, development of innovation within our industries, and refined government spending. .
             Crane states that the economic future of our country lies within the education of our children. This is quite true, as our children will eventually grow into the workforce of the future. For example children without proper education, will leave school and enter the workplace without the skills and abilities to compete, and will consequently soon become unemployed and add nothing to the economy while relying on many government benefits like unemployment insurance. However, if this child is allowed to develop to their full potential - such as going through all of high school to continue a post-secondary education - they will gain the knowledge and abilities needed to succeed in their future careers. As better workers they may add to and benefit the business, causing increased production and revenue. These increases eventually trickle down to the workers and they too benefit from increased salaries and/or bonuses with which they can use to purchase more goods and services with. Along with providing employment a more educated work force also allows provide better quality jobs. Instead of the menial labor-intensive jobs, jobs can now be found in more competitive sectors such as technology and communication. Therefore with greater education in our society we found more economic prosperity. .
             Another way to push for a successful economy is to ensure proficient use of our natural resources to ensure environmental sustainability. If we allow for full capitalism of our natural resources, our earth would quickly be raped and left devoid of meaningful resources for future use.


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