Critical Thinking - Case 2: Judging Economies

Read “Critical Thinking – Case 2: Judging Economies (p. 56), then answer the questions below:

1. Do you agree that we have moved from a more philosophical and political evaluation of an economy to more specific economic and social indicators?

a. If so, what has accounted for this change?

b. Will the philosophical evaluation always be part of the judgment of economic health?

2. Of the six questions for evaluating an economy, which ones should rank first, second, and third? What is missing from this list?

3. It might seem a bit of a reach to judge economies in terms of civil rights, happiness, and people’s health. In your opinion, is it appropriate to pay attention to these factors?

4. Should the Gross National Happiness Index be adopted in the United States? Should the United States focus on the four areas of importance to this Index rather than production and employment?