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Economics Questions, Kindly Answer - Education - Nairaland

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Economics Questions, Kindly Answer by Gydion(m): 8:58am On Sep 02, 2015
I've two questions to ask

1. Which is the best economic system to recommend for nigeria

A. Capitalist
B. Socialist
C. Mixed

2. How many terms should a government be given for good accountability in Nigeria

A. One term
B. Two term
C. Three term
Re: Economics Questions, Kindly Answer by psucc(m): 9:22am On Sep 02, 2015
1. Mixed Economic system
Reason: Capitalism requires a stringent government policies to curb excessive tendencies of the operators and as well a machinery to recycle the proceeds into the economy to make it work. Else, it will leave a few with the wealth of the nation and the rest in abject poverty.
For a socialist economy, the mind set of the people is so divisive, ethnocentric, religious based and party fault line. Hence, it breeds mutual suspicion among all. There is no trust anyway and this can't support the operation of this economic system.
Re: Economics Questions, Kindly Answer by psucc(m): 9:27am On Sep 02, 2015
2. A single term.
Reason: Once elected, the officer is only interested in pursuing those policies which to his judgement will secure a second term ticket. Thus, rather than concentrating on discharging, the fellow will be busy 'buying' every opportunities to get the second term including awarding contracts without implementation.
Re: Economics Questions, Kindly Answer by Gydion(m): 12:00pm On Sep 02, 2015
Thanks boss
Re: Economics Questions, Kindly Answer by Kk4(m): 12:36pm On Sep 02, 2015
As an economist, I'll recommend mixed economy and two term.

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