Categorized | Opinions

Disputing Economics

By: Dakota Rench

Economics is the subject that politicians quibble over, stock brokers froth about, and economists turn into a broiling argument. From setting up a garage sale, to the operation of an international corporation, economics influences individual’s choices over the way they utilize resources in a world of scarcity. Not only is economics the most prevalent subject in society, it is also the most controversial. People’s opinions vary in an infinite amount of ways.

From those who support large amounts of government regulation to Free Marketeers the debate never ends and is continually growing fiercer. So what are the thoughts of students and teachers concerning this vast subject? Troy Ouhl, the Piqua Government teacher and former Economics teacher, was asked multiple questions concerning America’s current economic status along with other students throughout Piqua High School.

The first question asked was: “What do you believe is responsible for the unemployment rate in America?” Ouhl responded with, “The global economy and competition that exists for jobs that require high skill.” Another student, David Wysong responded: “I believe that involvement from the Federal Government is a major cause behind unemployment.”
Olivia Barhorst said, “I too believe that involvement in the economy by the federal government has caused the unemployment ratings to increase.”

The second question asked was, “What do you believe is the epicenter of economic destruction?”
Troy Ouhl responded with, “The difference in income levels between the top 1% of the population and the lower 99.” David Wysong stated, “Involvement in the economy by federal regulation agencies.”  Faith Branson said, “The lack of education for higher skilled labor.”

The third question asked was, “If you could revamp the American economic system, what would you change and why?”
Sherry Boggs responded, “I would make it to where there is a minute amount regulations over the economy, without regulations businesses can prosper to their full potential.” Ouhl responded, “Our system isn’t broken, I still believe in the free market economy, one based on private ownership and some government regulation. I do believe we need to create a higher skilled working class to increase tax base.”

Economics will forever be flooded with millions of individual’s opinions and beliefs, these were just a few to get a small inquiry into how economics is viewed from the standpoint of students and teachers.

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