Which economic or “rationing” system best distributes resources to the most needy? Which rationing system best manages scarcity? Which system best maximises utility? Which system best rewards entrepreneurship & effort? Which system best minimises the impacts of choice & opportunity cost? Which system is the biggest threat to sustainability?
Answers to these & other fundamental economic questions were deeply debated & discussed by members of the UNIS Economic Forum (UEF) this week through a series of discussions about the merits & negative externalities of Free Market, Command/Centrally Planned, Keynesian Market & Social Market rationing (economic) systems.
While no definitive conclusion was reached, all participants came away with a much better understanding of the choices available to producers, consumers & the government within each system.
UEF meets in B5 G16 & G29. Please join us & find out the opportunity cost of taking part!