DEAR DIARY: SOCIAL ECONOMIC GOALS

Read the excerpts from Student A’s & Student B’s diaries.
Decide which social economic goal is being met OR not met in their society.

A “I hate babysitting. My mom says I only have to do it until my dad’s

consulting firm gets off the ground. Then we can afford daycare. Starting
the business is risky. He’s never around. My mom really isn’t either. She’s
opening a second restaurant.”

Which goal is being met here? Equity

“Why did his old employer let him go? That doesn’t make sense. The news says the economy is doing
well. 3% growth and inflation is under control, whatever that means.”

Which goal is being met here? Sustainability

“I reminded my parents that I work after school on Thursday and Friday and can’t babysit. They
wanted to know how much of my paycheck I’ve been saving. Well, not much since I had to pay for car
insurance, buy new clothes, concert tickets, and pay for gas. That started it! I got another lecture on
the importance of saving for college. They’re so concerned about college and getting a good job.”

Which goal is being met here? Efficiency

“I got a raise! My boss complimented me on my ‘work ethic.’ I didn’t even know I had one. He fired his
other after-school employee because she was always late.”

Which goal is being met here? Full employment

“Dad was really discouraged today. I heard him telling mom that he’s tired of
B
doing work that he hates and getting paid the same as other men at the plant who
often don’t show up for work or do little when they arrive. He says they have no
incentive to work. They get paid even if their work is poor. Mom reminded him
that we have much to be thankful for. The government provides us with an
apartment, guaranteed retirement benefits, free healthcare, and job security.”

Which goal is being met here? Security

“Mom tried to lift dad’s spirits. I’m not so sure he isn’t right about many things. Prices for consumer
goods are kept low, but we have so few choices. My friend has a pair of blue jeans. I would love a pair!
But I would have to buy them illegally, like he did.”

Which goal is NOT being met here? Freedom

“It snowed today and our apartment was cold. The government is always promising things will be better
next year. I doubt it. They care more about supplies for the military and the space program than they
do for citizens like me.”

Which goal is NOT being met here? Efficiency & Security

“Mom and dad were arguing again. Dad said what good is a guaranteed job if you’re not free to change
it or start your own business. Mom points out that it’s the same for everyone. Do as you’re told and be
happy with what you have.”

Which goal is being met here? Full Employment

Which goal is NOT being met here? Freedom

Based on what you’ve read, what kind of economic system do you think Student A lives in? What about
Student B? Explain how you know.

Student A: Market or Mixed