Systems evolve into a “school of thought”

1. Substantive post on applying ethical vs. moral ideas or imperatives to decisions in the economies of individuals, households, and businesses moving forward, based on COVID19 or other similar events.
2. Identify 2-3 critical economic decisions that may have to make in the next 12-18 months concerning economics from the individual to federal government level and apply the filters of ethics vs. morals to talking about how you might make those decisions and why. Who be involved in analyzing the ethical (rules) and moral (beliefs) aspects of the decisions?
Ethical = making decisions or taking actions based on rules, laws, and regulations.
Moral = making decisions or taking actions based on you or your group’s convictions including your faith, family values, or code of conduct.
3. Compose a brief on two(2) economic systems and compare and contrast the two systems.
For example, you may compare and contrast capitalism and socialism after effectively defining them.

Be substantive. Cite sources for your research.
Define each system and summarize the primary economic mechanisms for each and how they advanced the economic thought process.
How did these systems evolve into a “school of thought” supported by others?
How have their concepts impacted the economics of a country or the world at large? Is there any great opposition against their ideas?

State facts supplemented by your opinion.

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