A reasonable interpretation of the November, 2012 election is that a slight majo

Question

A reasonable interpretation of the November, 2012 election is that a slight majority of those voting believe a nation’s economy is best served by embracing an equity rather than an efficiency philosophy of economic reality. The choice of equity over efficiency assumes that the citizens of a nation can better achieve economic success by means of a collectivist vs. an individualist approach. Discuss whether you agree or disagree with the point of view of the voting majority in the last election. Give a rationale for your opinion based on your knowledge of economics to date.

Explanation / Answer

I agree with this statement that- the nation's economic success can be achieved better by means of a collectivist than an individual approach. Collectie effort have mostly outperformed teh individual approach. It brings balance and focus to achieve a common goal for nation. Patriotism plays a great role here. it brings motivation and accountaibility for collective effort.

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