Economy: Economy of Algeria and Economy Essays

Submitted By asadsiddiqui21
Words: 797
Pages: 4
Open Document
Is there such a thing as a perfect economy? How close is the UK to this ideal Firstly, what makes perfect? How can we define the word ‘perfect’? In the dictionary, the definition of perfect is having all the required or desirable elements, qualities, or characteristics; as good as it is possible to be, however I would disagree with this. I think perfection is different to each being, it only exists in our mind and only we can define our version of ‘perfect’ e.g. I think a certain building is perfect because of what I see in it, conversely others won’t.
Now what is an economy? An economy is a system which tries to balance the available resources of a country (land, labour, capital and enterprise) against the wants and needs of consumers. So it tries to meet all the needs in order to run in the most effect way. It relies on many different factors such as the amount of people in the certain country, and the wealth of the people in the country. In order for a country to have a better economy in my opinion, market reform needs to happen. Market reform brings competition, lowers inflation and increases the product efficiency. Businesses will start to compete thus prices will become cheaper and more strain on the businesses means more jobs will be created.
However, for a good economy to be in place, a country cannot rely on one product. Taking Algeria for an example, the country is based around oil. Algeria has the tenth-largest reserves of oil in the world with 12 billion barrels but the hydrocarbons sector is the backbone of the Algerian economy. If the market dipped, Algeria would be struggling and relying on other countries to help. For it to turn this around, Algeria would need a variety of products which are either unique or high in demand, which makes the product desirable and continually purchased.
Taking all this into account, is there such a thing as a perfect economy at this moment? In my opinion, there isn’t a single country in the world with a ‘perfect’ economy. For a country to be perfect in my view it would need to have a vast range of products both unique and in demand, it would need a tax system (equally distributed according to ability, so those of higher calibre such as doctors should pay more tax then others.) It would need freedom of enterprise and freedom of choice, as well as limited government. Take a look at the Switzerland for example, they have these last 3 qualities and this is a huge reason why there economy is the best in the world. If they were to push competition for businesses it could effectively be close to ‘perfect’.
I personally don’t think their ever will be a perfect economy, as relating back to the definition of perfect, it would be a matter of viewpoint, so although I might define the Switzerland’s economy as close to perfect, others wouldn’t. How can one economy make everyone happy? Is it possible?
The
Show More

Related Documents: Economy: Economy of Algeria and Economy Essays

French Imperialism In Algeria In The 1800's

imperialized Algeria. They did this for many reasons such as nationalism and the White Man's Burden. French Imperialism in Algeria was extremely catastrophic during and after Algerian independence politically, socially and economically. The French’s political impacts were harmful because, the French took over Algeria by force and forced them to do their work. It was socially harmful because the Algerians morals and way of life was depleted. Economically…

Words 1520 - Pages 7

Sam's Essay

Was Colonization Good or Bad for Algeria? Sam DeFilippo In 1927, the French overtook Algeria in order to gain economic benefits, spread their Christian religion, gain more world power, and spread their culture. Algeria was the perfect place for the French to achieve this, because they were located on the coast so it was able to export and trade, and Algeria has an abundance of oil. The French believed that they were being charitable to the Muslims by converting them to Christianity. More Christians…

Words 1135 - Pages 5

Essay on History: Africa and Nationalist Demands

Sec1.Africa Economics: -Europeans introduced new _____, ________, and cash economies. -built roads,______, and ______. Politics: -Europeans denied educated Africans top jobs in colonial governments Health care and Education: -Western doctors developed vaccines for _________ ,__________, and helped reduce dealths from malaria. -By the 1950s in response to nationalist demands, colonial rulers built more hospitals and schools. National Borders -At independence, African nations inherited borders…

Words 632 - Pages 3

French Imperialism In Algeria Essay

into France and became an administrative division (or départment) of France, and the entire area that is now the country of Algeria was subject to settler colonial rule from June 1830 to March 1962. Algeria’s location on the northern coast of Africa, in close proximity to Europe, made it the target of European conquest as early as 800 BC. The original inhabitants of Algeria were known as the Berbers. They were peaceful farmers and herders that have been routinely conquered by foreign invaders throughout…

Words 973 - Pages 4

Mali: Mali and Secessionist Tuareg Rebels Essay

Economy: • Like Kenya • No oil reserves • Tons of subsistence farming • Investment starting to come in. New President- • Ibrahim Boubacar Keita (IBK) • Won 77.61% of votes vs. Soumaila Cisse (former finance minister) • Election forced by international society • 11th august 2013 • French Foreign minister Laurent Fabius says "rebirth" of Mali • European Commission pledges 639 million dollars for reconstruction • EC suggests that IBK talk peace with Tuaregs • Think it’s a…

Words 454 - Pages 2

Speaking Copy Of Oral Presentation Outline OPEC Essay

bonded over their outrage of the West trying to control oil. Headquartered in Vienna, Austria, 7. the founding members were Venezuela, Iran, Iraq, Kuwait, and Saudi Arabia. Other countries later joined, including: Indonesia in 1961, Libya in 1962, United Arab Emirates in 1967, Algeria in 1969, and Nigeria in 1971. Gabon and Ecuador were early members as well, although they left due to unwillingness to pay the $2 million dollar membership fee. Ecuador rejoined in October 2007. Indonesia left because it was not even able to meet it’s own…

Words 1178 - Pages 5

Timothy Mitchell Carbon Democracy Summary

revenue, and due to the abundance of oil in those countries, they could reorganize their political structure under the economy brought about by revenue earned from exporting oil to the Western hemisphere. The Western countries had a high in demand…

Words 1700 - Pages 7

Peak Oil Essays

corporations can not feed the world without tractors, fertilizers and pesticides. Industries will not be able to produce our consumer products without oil. Nations will begin fighting (have begun fighting) for oil and natural gas to save their economies. As people are unable to pay higher prices for manufactured products, employers will begin layoffs and unemployment will increase. The unemployed will not be able to buy, and businesses will close creating more layoffs and homelessness. Protests…

Words 988 - Pages 4

Essay on Chicago Manual ofStyle

Phenomenon of Limited-Field Criticism (Boston: Broadview Press, 1990), 163-165. Book- Corporate Author International Monetari Fund. Surveys of African Econom~~: Vol. 7, Algeria, Mali, Morocco, and Turi;.1sia. Washfngton, D.C.: International Mon¥tary Fund, 1977. 3. International Monetary Fund, Surveys of African Economies, vol. 7, Algeria, Mali, Morocco, and Tunisia (Washington, D.C.: International Moqetary Fund, 1977). : Edited Book Tortelli, Anthony B., e4. Sociology Approaching the Twenty-first…

Words 554 - Pages 3

Africa Essay

recognized sovereign states ("countries"), nine territories and two de facto independent states with limited or no recognition.[4] Africa's population is the youngest among all the continents; 50% of Africans are 19 years old or younger.[5] Algeria is Africa's largest country by area, and Nigeria is the largest by population. Africa, particularly central Eastern Africa, is widely accepted as the place of origin of humans and the Hominidae clade (great apes), as evidenced by the discovery of…

Words 685 - Pages 3