What is the root cause of economic problems?

[Satofan44]

Scarcity of what? Some resources are scarce by default and no government can artificially boost their mining and production.

This question does not need to be asked since almost everything is scarce. If we had an oversupply of things, then prices would collapse but instead we have high prices for many important things and even unimportant useless junk like iPhone Max, foldable phones or whatever other things retards buy. Even the whole world is pretty much scarce in everything except in things that are in an oversupply like dirt or some types of basic rocks. There are way too many people on the planet, we would be better off if the population gradually shrank down to 1 billion. There is absolutely no reason for us to be so many.

Aren't unemployment and underemployment basically the same thing? The economy can't create enough jobs and the people, who are unemployed don't have the skills, that are in demand on the job market.

No, those are completely separate concepts and you could find this out by doing a simple search to read more about it. Here is how it is different:

• Unemployment refers to people who do not have a job (are not employed), but they are actively looking for one.
• Underemployment refers to people who do have a job but it is not enough, for example it could be a part-time job. I know this sound strange to many people in many countries, but in other places a lot of people work part time jobs and it is a common thing. Also it can refer to people who are working jobs that are way under their skill level, say an IT expert working in a grocery store as a cashier.

The root cause of all economic problem are incompetent and corrupt governments. Inflation is created by bad fiscal and monetary policies. Unemployment is created by a bad education system and having a bad business environment, where the entrepreneurs are being punished with high taxes, too much bureaucracy and corruption.

No it is not, and I have debunked this false argument already several times here. You should read those posts. Corruption is a bottom-up process and so is incompetent. Most average people are corrupt and incompetent in their jobs, and therefore governments are also going to be like this in most cases. Only once you fix the corruption of the average person could governments have a chance to be not so corrupt on average.

[slapper]

Human wants can  not be part of the economic problem because if the economy is ok and there is a good atmosphere and employment for humans they will work out what they want and if they don't get satisfied that's their problem but the leaders have failed to make life better by providing the necessary things that will be useful to their citizens. If nut greed tell me why someone will decide to make life difficult for his people and expect them not to cry, the politicians should create job opportunities and stop looting the resources of the people then crisis will reduce.

Yes I agree bad leader make the world more worse but without any attention in tolerating corruption, collusion, and nepotism but in these modern world, we know that politics is high cost arena, system creates pressure on politicians to commit fraud. Beside that we must understand that everybody strat line is not in same position, in normal economy, the result is not equivalent and widens even more during a crisis because different opportunity, leverage to choose, to speak and to survived without being pressured. People with connection and enough money easier to survive and left people without leverage choice that morally unfavorable. There was a point where I started to question about the goodness of competitive economy, high cost politic and job market funcion because it is subjective not objective.

Nepotism in particular, it is so pervasive in completely different cultures and regimes and centuries. And it is not that humans are tribally evil by their nature. Proximity-based networks are the rational insurance in the environment where institutional trust is low, and the cost of betrayal is high. You are not promoting your cousin because you are purely selfish but because you simply cannot know a stranger, particularly not in a situation where the system does not provide you any security in case they prove to be unreliable. The broken institutional trust is manifested in the nepotism. To consider it as a cause is to have the causality the wrong way up.

Meritocracy was constructed on assumptions that never, in fact, were tested at scale. That access to education is comparable. That networks do not make a difference more than credentials do. That the evaluator is not introducing bias into the room. All these were not empirically obtained. They were asserted. And we constructed huge social legitimacy upon a claim and then became puzzled when the outputs continued to be disproportionate.

The individuals who suffer the most by the system are also the ones who lack time and resources to counter it. Those who have sufficient leverage to redesign it have little incentive to.
And I believe that is where your question on the goodness of competitive economy takes me. Not "is it bad". But good to whom, on what conditions, and who made those conditions and why? Answer those and the subjectivity you're pointing at becomes very, very clear.

[SquallLeonhart]

You will blame the government when there is a high rate of unemployment in the country or state because i believe there is no way the government can get everyone employed. When things are scars in the country the government is responsible for it not that they can't make provisions for those things, inflation is also cause by government because they can make because at first things are not supposed to be too expensive for people to get, what ever we face in a country is cause by our leaders.

It is not really that complicated, a country could still get MORE tax, while making tax cuts. How? Simple, instead of taxing a company, they tax the employee. So if let's say that a company that has 1000 workers, are paying 1 million dollar in tax, and those 1000 employees are paying also another 1 million in tax, that means from that company, the government makes 2 million total.

Offer the company 80% tax cut, if they hire another 1000 people, that means, with 2000 people hired, they would have 2 million dollars paid by the people, because they had 1000 workers paying 1 million, now they have 2000 so it would be 2 million, but on top of that, company grew, so when they had 1000 workers they paid 1 million in taxes, but with 80% tax cut, they are now paying 200k, with new workers, hopefully they are making more money, they should, but maybe they are not, in any case, that would be 200k+ more on top of that.

See, the government managed to convince a company to hire people, and still made more in tax, while dropping unemployment at the same time.

[DYOR+BTC]

What is the root cause of economic problems?
Options:
(A) Unemployment
(B) Scarcity
(C) Inflation
(D) Underemployment

You will blame the government when there is a high rate of unemployment in the country or state because i believe there is no way the government can get everyone employed. When things are scars in the country the government is responsible for it not that they can't make provisions for those things, inflation is also cause by government because they can make because at first things are not supposed to be too expensive for people to get, what ever we face in a country is cause by our leaders.

Be it good or bad results, all must be channeled to the government.  Just as it is the constitutional rights of citizens to obey the laws and other of the nation so also it is the duty of the government to create job opportunities and reduce unemployment rates in the country and also contribute to the regulation of inflation.
When a country's inflation rate is high, it is the duty of the government to control and bring it to normal and not put the blame on anybody that is why when any country's government fails, everything fails as well. A perfect example of a country experiencing such is Nigeria, all sector have been destroyed and will remain so until there is change in the government.

[DYOR+BTC]

What is the root cause of economic problems?
Options:
(A) Unemployment
(B) Scarcity
(C) Inflation
(D) Underemployment

You will blame the government when there is a high rate of unemployment in the country or state because i believe there is no way the government can get everyone employed. When things are scars in the country the government is responsible for it not that they can't make provisions for those things, inflation is also cause by government because they can make because at first things are not supposed to be too expensive for people to get, what ever we face in a country is cause by our leaders.

Be it good or bad results, all must be channeled to the government.  Just as it is the constitutional rights of citizens to obey the laws and other of the nation so also it is the duty of the government to create job opportunities and reduce unemployment rates in the country and also contribute to the regulation of inflation.
When a country's inflation rate is high, it is the duty of the government to control and bring it to normal and not put the blame on anybody that is why when any country's government fails, everything fails as well. A perfect example of a country experiencing such is Nigeria, all sector have been destroyed and will remain so until there is change in the government

[Cleanslate_]

Bad government, when government fails in his duties towards it's citizens and the country's resources is not properly utilized for the benefit of its citizens.

The government is suppose to put the welfare of her citizens first before any other things so that the economy can flourish properly to be able to provide needed resources with good jobs and employments and other basic necessities to it's citizens.

[STT]

Strike off the first 3 as acceptable errors.  Retired people are unemployed for example and thats ok, people are allowed to rest and could even be for the positive also.


(D) Underemployment

Thats the one that matters most.   Why is because it represents inefficiency and that is always problem number one for an active market economy to fix.  The job of every company and the market entire is to improve efficiency, we are most familiar with that answer by the process of mass production.    
   We all get amazing gadgets possible with efficient process mostly via industrial development.   People are the most powerful tool in an economy, bigger then AI etc. and its essential to use the best resources to the best purpose possible.
  People not being used would be a failure to maximize your resources, it would underline greater problems most likely.