Economy hints + Congress Manifesto

Day 880, 10:05 • Published in Ireland Ireland • by Paschoall
Hello dear eIreland man and women, how are you guys today ?



Lil bit bout me:
- 20 years old
- Joined college in 2008 and since then studies Economy
- Born in this small city called Araraquara, in the middle of the state of São Paulo, in Brazil.
- I have also lived arround another 3 other brazilian small towns and in San Antonio, Tx.
- My goal in eIreland is to be known as a economical icon that is usefull to his eCountry and also a fun person 🙂
- My name is Luís, and my last name is Paschoal
- I do enjoy long boring talks about profiting, budgets, advantages, movies and music ...

Enough for now I'd say ...



I come here today to say majorly 3 things:

1) The concept of Maximizing one's satisfaction.

In order to talk about Maximizing satisfaction, I gotta say a little about:

- Tradeoff: A trade-off (or tradeoff) is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect. It implies a decision to be made with full comprehension of both the upside and downside of a particular choice.

- Economy : The science that studies the fine allocation of scarce resources.
(By that, we can understand that no resource is ever going to be there forever. They last for a specefic space of time and run out, therefore a economist would most likelly allocates those limited resources the best way possible in order to MAXIMIZE ONE's SATISFACTION.)

This is the reason why I created this newspaper and why I'm running for congressman.
I wan to maximize eIreland's satisfaction on the eRepublik environment.

One might ask: How are you gonna do that Paschoall ?
- To begin with, with TRADE. Later on, when I have proven my basic points, I'll explain how can a country improve the way they're citzen's live by trading.

So whats maximizing satisfaction after all ?

Let's look at this picture a bit:




Tring to simplify:
You can see that this country has to decide between 2 comodities. That is they're tradeoff. If they get to much of one, they won't get too much of the other and so on.
- The furthest the curve is to the northeast of the graph, we say that the satisfaction that that this combination of comodities provides to this country is beeing maximized.
So, it would be perfect if this country could ALWAYS allocate they're resources in a way that it's citizens fell more satisfaction. rigth ?
Well, that's not possible.

check this out:



At point B. We are not maximizing this countrie's satisfaction because there are higher interest curves above in the northeast of the graph.
You could ask me: Hey Paschoall, this people are dumb or what ? tell'em to go to that higher curve. - but I can't tell them that... can you see that blue line touching the curve ?
That's our restriction! Thats our GDP !
It limits what we want to consume.

It's like :
" I wanna consume more of those 2 items because that would make me happier. But I can't because due the money I have, the best option I can possibly have right now is to stay at point B, given the money I have only gets me that far ..."

Well, not quite true.

In congress, if I make it there, and I really would love you guys' support to be elected, I will defend that thru international commerce and suppying alliances (that I intend to run after) we can maximize eIreland's satisfaction ABOVE that GDP restriction line.

2) If you like what you read, please do subscribe and vote.

3) You only vote for people you trust, and I want to have you guys trusting me. So pleace ask questions, PM me, talk to me, laugh at me, point at me, kiss me ... well, whatever you do: DO SOMETHING please. - Vote me up for congress 😉


PS : I know I make lots of typos and grammar mistakes ... I'm really sorry for that. English ain't my mother tongue
PS² : eUK. I'll drive you nuts.



Peace,
Paschoall