Text 1 (E) Economic Strategies

Text 1 (D) The Limits of Economic Freedom

A person is economically free, if he can do what he wishes with his own property, time and effort. In all communities, of course, limits are set upon this personal freedom. In some countries the limits are complex; in others they are relatively simple.

All individual citizens must conform to the laws made by their governments. Complete economic freedom of action can cause great difficulties, because the freedoms of various individuals will conflict. If citizens were completely free, some landowners might build factories in unsuitable places. If there was no system of control, factory-owners might make their employees work too long each day.

If they were completely free, workers might stop working when they got their first pay, and come back to do more work only when they needed more money. Such economic freedom could create a very unstable economy. Laws related to economic conditions are sometimes concerned with workers' health, wages and pensions. They are sometimes concerned with contracts between employers and employees. They are sometimes concerned with the location of places of work. Sometimes they help the employers; sometimes they protect the interests of the workers.

Four Asian nations - Hong-Kong, Singapore, South Korea and Taiwan - are now called NICs, newly industrialized countries. Their new status is a product of outward-oriented development strategies.

In the 1950s and 1960s, the governments of the four countries protected domestic markets from foreign competition to stimulate domestic production for domestic consumption.

Taiwan was the first to replace an inward-oriented policy with an outward-oriented policy. The other three countries followed closely behind. Soon each country experienced rapid growth in exports and domestic national income.

These countries maintain some restrictions on the domestic economy, but operate with another set of rules for exporting firms. Production for export occurs in a free market setting, with no taxes or restrictions on imports of the materials needed to manufacture goods for export.

The governments have developed banking and financial institutions that can finance export production and sales.

Notes: setting - обстановка, условие

Text 1 (F) Why Study Economics?

You may be asking yourself, “Why should I study economics?” There are several very good reasons, all of which involve you. Some have to do with you as an individual, some with you as an earner and spender, and some with you as a citizen.

As a member of the society in which you live, there is no escaping economics. * The food you eat, the home you live in, the clothes you wear, and the way you spend your leisure time are all affected, in part, by economic forces. The study of economics will help you to understand these forces better and enable you to live a fuller life.

Economic forces also affect decisions in the world of business. In fact, one common definition of economics is “the study of how people make a living”. The more you know about the subject, the better career decisions you will be able to make.

Economics will also help you to fulfill your responsibilities as a citizen in a democracy. ** Unlike other countries, in which government officials or dictators assume sole control over the nation’s affairs, really democratic countries expect their citizens to share in governing the country. As a voter, you will be asked to express your opinion on many questions involving economic issues. The study of economics will help you deal with these questions intelligently.

NOTES: * there is no escaping economics – зд. вы не можете существовать без экономических знаний; ** a democracy – демократическая страна

ВАРИАНТ I

Дата добавления: 2017-02-01