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ECON 227 (3)
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Module 1 Readings.docx

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Department
Economics (Arts)
Course
ECON 227
Professor
Christopher Ragan
Semester
Fall

Description
Module 1 Readings Worldly Philosophers October-28-12 8:00 PM -Each person in society plays a crucial role. Should in the future no one want to become engineers, or plumbers, or road workers etc… the services we need and thrive off of might not be so available. This demonstrates how the world is in a careful balance. -Jobs can be carried out by self-interest, social status in under developed nations, or by the whip of authoritarian rule (ex: Egyptian pyramids) -Market system: Each should do what was to his best monetary advantage Hayek-The Use of Knowledge in Society October-28-12 8:01 PM -A problem of the utilization of knowledge not given to anyone in its totality -All
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