People, Households, and the World

A strong foundation of a nation comes from its people or citizens. These individuals form households and/or families. Furthermore, these families and households eventually create a nation or state. Knowing that people is the foundation of a nation, the ruler of a nation should maintain balance in its economy to sustain the demands of its people. For them to achieve sustainable and optimized development, the first step is applying the appropriate economic system. We all know that the purpose of economics is to allocate the finite resources of our world. We all know that there is a thing called "human insatiation", where it is said that humans will never be completely satisfied. With the help of economics, that natural characteristic of humans will be regulated. In relation to the present day situation, people are actually rallying about the economic system in their countries because it failed to improve lives. When the US hit recession in 2008, which is claimed to be worse than the great depression, the whole financial system collapsed and barely recovered. Examining this whole situation, the culprit of all these is the different governments of the western countries. Many chances were presented to them for them to avoid the crisis. Instead of working together, the European countries did not cooperate with the US. Now, the joke's on them. It all started with the "light touch" regulation of the financial system, which gave rise to the most intoxicated financial derivative called the sub-prime mortgage. We all know that human beings are naturally greedy. Financial institutions took advantage of this, making the people suffer from a recession. In Philippine setting, it's the equivalence of corruption in our government. Once again, wrong governance. IMHO, the economic system called capitalism did not fail, but rather the people failed the system. It is the people who runs it who failed to protect its citizens. Also, it's not the government that is to be blame but also the people who are greedy, referring to the corporations who committed fraud and rallyists who want a redistribution of wealth. Instead of trying to improve their lives and live a new life, they rally. I don't think rallying will change something. Powerful people are heartless. The possibility of using violence by the government and powerful people is very high. Not only that these people are unproductive, they are actually causing a negative effect on the economy. Human beings are very complex creatures. Don't forget also that we are considered animals who have two basic instincts, namely survival and reproduction. With all these, global politics is not for people who are irrational. If you are irrational, you are mainly ran by your emotions and instincts. In the end, everything is relative. The word for this subject is "balance".