Outlook on Our Economy

Outlook on Our Economy

Kelsey McNamaraThe economy affects multiple aspects of our daily lives- it surrounds us. It’s constantly changing, whether just in the United States or globally. For something that has such an influence, most people do not think that they know a lot about it. Despite this, they do have certain opinions when it comes to some of the issues pertaining to the economy today.

 

I took a more statistical route for this assignment, as I felt it represented what our economy is- a series of numbers that can often be confusing. However, my statistics are pretty straight forward. I sent out a survey to a group of my friends that had 4 “multiple choice” type questions, with an open response at the end.

 

The first question simply asked how much the person thought they knew about the economy as a whole. On the scale, 1 meant that they knew absolutely nothing, with 10 meaning that they knew almost everything (generally) about the economy. Over 71% of the participants were below a 5 on the scale- the range where I would have put myself. 

 

The next question talked about “free college” and whether they believed it could be achievable within our lifetime. Over 85% of the participants voted “No,” and I agree as well. If the United States were to implement a “free college” system (one where people would most likely have to pay some small amount, hence the quotation marks), I would assume it would take many years, or not even be feasible at all.

 

The third question stated, “Do you believe that the government should force large franchises to pay more taxes or give to charities?” with the choices being “taxes,” “charities,” “both,” or “none.” About 50% of the participants voted taxes, 30% both, and 20% neither.

 

For the final multiple choice question, I asked if they [the participants] felt that they would be able to get a job fairly easily after completing their education. 71% voted yes, while the remaining 29% voted no.

 

Lastly, for the open ended response I posed the following question: “What would you change about the economy or how it works, if given a chance?”  The responses I received included “people should earn their money, not be handed it,” “I would like more to be offered to the middle class,” and “evenly distribute wealth enough so that everyone can afford basic necessities,” among others.

 

Based on these findings, everyone clearly has varying opinions about the economy, which is expected. I believe that there is always room for improvement, no matter the case, and the economy is not an exception.