Politics And Economics Are As Important As STEM

Politics And Economics Are As Important As STEM

Why you should care about politics and economics.

105
views

It's common for people to come to the conclusion that politics, economics, and the humanities are questionable fields. Not useful. Not productive. Jobless. Nonsense.

I concede none of those points. In fact, I frequently find that politics and economics are extremely important to well-being and prosperity.

The stigma against political science is far stronger than that against economics. This opinion is likely because of the scientific and mathematical elements contained within economics as a discipline. Moreover, the economy is an important part of society. It affects our daily lives. It discusses our wealth, our country's performance, and the country's overall state of affairs. But most would argue that economics can't stand beside chemistry, biology, or engineering. That perspective demonstrates two things:

1) lack of critical thought, and

2) mob mentality.

The intersection of political science and economics determines everything. The world spins on the market. The market is undoubtedly influenced by government actors, politicians, politics. Don't believe me? Let's consider an example.

The stock market had expanded rapidly in the 1920s, but stocks were being overvalued. Companies were not actually worth their stock market value in the real world. People really wanted stocks, so demand was high — but this wasn't an accurate representation of how companies were performing. Investors began to realize this and started to sell overpriced stocks left and right.

Eventually, it became clear that investors were uncertain. Trades were being made at rapid rates, but the investors were selling stocks for cheaper than they had been purchased. Sixteen million shares were traded in one day. Everyone was losing money.

So naturally, consumer confidence declined. People stopped spending. They were afraid of losing money. This dramatic decrease in spending and investment led to companies producing less. Spending and demand went down, and subsequently supply went down as well. Companies stopped producing as much as they had been because they weren't selling as much as they had been. As a result, people were laid off. Households were losing jobs -- they were losing cash, causing spending to decline even further. So more people were laid off. You can see the vicious cycle. At one point, half of the United States' banks failed. Fifteen million Americans were unemployed. The world was in the midst of an economic disaster.

This situation is commonly referred to as the Great Depression. It went on for 15 years.

This is what economics studies. It analyzes, attempts to anticipate and hopefully, prevents these situations. Where does politics fit in?

Obviously, the government tried to respond to the Great Depression. Franklin D. Roosevelt was the president at the time. He passed a variety of policies to stimulate the economy. Yet the Great Depression continued until WWII. In fact, two UCLA economists concluded that FDR's policies prolonged the Depression by several years.

It's unimportant whether they are right or not. What is important is that the economic policy by Roosevelt (and Congress) certainly had an impact on the country's economy. In fact, it was the reason some people may or may not have had enough money to eat. It was the reason that people may or may not have had jobs. It was the reason people could or could not afford homes.

To argue that the intersection of politics and economics is a useless study would be out of touch. Economics and politics create or destroy the world we live in. The next time you're told that they don't, ask the person what would happen if the demand for STEM labor fell.

Popular Right Now

Austin Alexander Burridge, Volunteer Advocate, Shares 3 Great Reasons to Volunteer and Help Others

Austin Alexander Burridge is an avid academic who studies Environmental Science at Winona State University and believes that work in the service of others is a key pillar to personal development.

11932
views

Sometimes it's easy for someone to adopt a "me, me, me" attitude. While focusing on oneself, a person may feel nice in the moment, but serving and helping others will bring lasting benefits. While there are many great reasons to serve and help others, there are three universal truths that resonate with volunteers around the globe.

Austin Alexander Burridge's 3 Reasons to Volunteer:

1. Accomplishment

Often, people fall into a trap of focusing on themselves when they are feeling down. Maybe someone did not get a job they wanted. Or perhaps a person gets dumped by an expected lifelong companion. Maybe someone feels they have underachieved after looking at Facebook and seeing great things a high school classmate has accomplished. When feeling down, helping others is a proven way to improve one's mood and attitude, and it can provide a sense of pride and accomplishment. The act of giving to those in need is an inherently good action and leaves people with a wonderful feeling of joy.

2. Gratitude

One can become more appreciative of life by serving others that have less. Whether volunteering at a soup kitchen, visiting the elderly at an assisted living center, or helping families after a natural disaster, service enables people to be grateful for what they have. Seeing people who have fewer advantages, especially those who are spirited and thankful for small things, allows one to realize just how fortunate he/she is in life.

3. Friendships

Volunteering is a great way to build meaningful friendships, not only with other volunteers but also with those who are served. One of the most profound and fascinating aspects of these relationships is how volunteers will learn from those served and vice versa. As these special bonds are built, they lead to impactful connections that last for years to come.

Of course, these are just a few reasons to volunteer and serve others. One can never go wrong by helping others as opposed to merely focusing on oneself. Volunteering invariably and inevitably contributes to personal growth, development, and satisfaction.

About Austin Alexander Burridge: Helping others has been of paramount importance to Austin, and as a part of the Fellowship of Christian Athletes (FCA), Austin gave back to the community around him. He also has participated in annual peanut butter drives, The Minnesota Sandwich Project for the Homeless and collected canned goods for local food shelters. Additionally, Austin has a passion for the environment, which he pursued when visiting the Galapagos Islands, Ecuador, and the Amazon Rain Forest while studying at the School of Environment Studies, which investigates ecological systems and their sustainability

Related Content

Connect with a generation
of new voices.

We are students, thinkers, influencers, and communities sharing our ideas with the world. Join our platform to create and discover content that actually matters to you.

Learn more Start Creating

6 Money-Saving Apps Every College Student Needs To Take Advantage Of

Aka how to spend while being a broke as f*ck college student.

25
views

Every college student knows the struggle of pinching pennies. Sometimes we sleep for dinner or swipe food from the dining hall for later. Buying new shoes is a luxury and eating out at chipotle is a treat. It doesn't have to be this way, though. There are tons of apps and websites that will help save money on everything from new clothes to parking fees. Keep on reading to find out how to save a few bucks with every purchase you make.

1. Ebates

Ebates is a website that offers cashback on nearly every purchase you make online. For each store, there is a percentage of money that you get back. It builds up in your account and gets cashed out every three months and goes into your PayPal account. There are also chances to earn double cash back at stores or get exclusive coupons. Some cashback can get obtained in in-store purchases, you just have to link the card you are going to use.

2. Flightdrop

Flightdrop is an app that helps you find cheap airline tickets to anywhere in the world. You get a notification about a cheap ticket deal you can purchase. In the past, I have been offered $400 roundtrip tickets to Paris and $500 roundtrip tickets to Japan. However, they are only these prices certain days and months so there is not a lot of flexibility in that area. You can also earn points by completing certain tasks which will unlock your perks like getting flight notifications earlier than some.

3. BestParking

Finding parking and at a reasonable price can be a drag which is what this app was designed to solve. The app allows you to see the available parking spots and their prices in your surrounding area. This helps users cut down on time and save some money by finding the cheapest spot rather than parking in the first spot they see open. You can also reserve a parking spot in the app which can save you up to 50% off the standard rate.

4. Honey

Have you ever looked up a coupon for a store before hitting the purchase button just in case you find something? Honey is a browser extension that does that for you but in a more efficient manner. Honey browses and tries all the possible coupons found for that website so you don't have to manually try each one. Honey also gives you points with certain purchases made which can be saved up towards a $10 gift card to a store of your choice.

5. StudentBeans

StudentBeans is an app and website that offers student exclusive coupons and deals in everything. They offer deals and coupons on clothing, food, travel, subscriptions, entertainment, etc. It's free as long as you sign up with an account linked to the school you go to. You don't even have to be a college student to use this one, it is open to high school students as well.

6. UNiDAYS

This is another app and website that offers student exclusive deals and coupons. UNiDAYS offers a lot of discounts and deals for many websites you are familiar with or already shop at. StudentBeans has fewer options and tends to be less known brands. With that being said, it is worth it to use both because you never know what kind of deal you could come across in each application.

Related Content

Facebook Comments