The Economic Problem (Part 1)

[Victorycoin]

Due to political programs various sectors of the economy have suffered and many sectors have suffered immensely it is important to know what kind of policy and other assistance needs to be provided in the respective sectors to overcome the losses. It is also necessary to give priority to the protection of any sector in such incidents in the future the economy has suffered greatly in the recent past due to political reasons economic resources cannot be properly protected without political influence.

[dezoel]

The main problem when producing stuff is ignoring the ones without money and that is the capitalist system.
Everyone would say "why work for people who end up not paying? That is bad business" and forget that we are talking about humanity here. The first ever thing everyone should work for would be food and shelter and healthcare and education for people.

All of humanity should be working towards giving these things to EVERYONE in the world, doesn't matter if it is a very cheap and poor part of the world where it would be spending money and not getting anything back, it would still be important to provide this. Whereas today we have lambos in rich people's houses that they do not even use while there are millions who starve to death every year.

[GeorgeJohn]

The problem of any country development start's with economy, and it's very obvious that economic problem depends or rely on the government hands, while some countries are been into economic distabilized is base on lack of economic diversification, they all channels the process of resources from one directions which is absolutely wrong from my perception, so diversification of economy will as well enhance or create a substantial development to any country, the bridges of economy is politics, this is higher figure i can say that always caused a set back to a country economy, because of lacks of management of a sector by a wrong political nominees that controls the resources of the country.

[barbara44]

Politicians. That's the economical problem, it is the politicians but also sort of voters as well. If the voters weren't so keen on voting for the "popular" characters who might be bad presidents, and only focused on putting in the "good" politicians in, then we wouldn't have any economical problem anywhere in the world.

There are dictatorships around the world we know that much, China and Russia and north Korea comes to mind at first but I am sure there are many that are either officially or in officially dictatorship, but leaving those aside the world would have been much better if people put in place people that would be helpful to tens of millions of people in need instead of just a few thousand who are greedy. That is the economical problem that we have, fix that and you are going to fix every other thing, all the produce, all the help, everything will be done.

[BlackHatCoiner]

[...]

No, no, no.

OP referred to the main economic problem. The mentioned problem concerns every society, despite its system of government. Whether we had capitalism, communism or dictatorship we could still produce a certain amount of CPUs with a given amount of GPUs and any rise in the production of CPUs would reduce the production of GPUs if all the productive factors were fully occupied.

[Hydrogen]

The dogma of ‘increasing wants’ as an indispensible basis for further industrial progress. Instead of the duty to work, we now have the duty to consume. To ensure rapid absorbtion of its immense productivity, megatechnics resorts to a score of different devices: consumer credit, installment buying, multiple packaging, non-functional designs, meretricious novelties, shoddy materials, defective workmanship, built-in fragility.

The aim of industry is not primarily to satisfy essential human needs with a minimal productive effort, but to multiply the number of needs, factitious and fictitious, and accommodate them to the maximum mechanical capacity to produce profits. These are the sacred principle of the power complex. Not the least effort of this system is that of replacing selectivity and quantitative restriction by indiscriminate and incontinent consumption.


--THE PENTAGON OF POWER, Lewis Mumford, 1970

I like the way Lewis Mumford defined principles of capitalism and economics above.

The line about "multiplying the number of needs, factitious and fictitious, and accommodating them to the maximum mechanical capacity to produce profit" could also apply to taxes, social programs and the public sector.

Its strange how a high percentage of content published on topics like finance and economics today are formatted like a wikipedia page. They contain information and content while neglecting some of the deeper observations and conclusions which could be made. This is particularly apparent in terms of history. Where today we never seen an effort to compare current trends to previous statistics to put events into their proper context.

Isn't it strange how people today discuss "inflation" as if it were a new thing that was invented only yesterday. With zero context cited on inflation / hyperinflation in past eras of history. Most fail to acknowledge even the most basic causes of inflation. As if the goal for humanity was to forget basic fundamentals and simply parrot whatever trendy news headlines say.

[oHnK]

Basically the conditions of need and scarcity will be part of an economic problem that continues to be complex.  The problem of this need starts from the smallest line, namely the household, to a large scale for the state.  But it's true what the OP said that there are a few key points to solve this scarcity problem.  Not only on basic needs but from other needs.