Nation needs to be economics-literate

A human psyche whips brightness most of the time. Illiteracy provides assistance to foolishness. And it is the blessing for the one who makes fool to someone. Unfortunately we are living in the world where “Pareto Optimality” concept prevails dominantly.  It is the concept in economics which says that “An economic state where resources are allocated in the most efficient manner. Pareto efficiency is obtained when a distribution strategy exists where one party's situation cannot be improved without making another party's situation worse. Pareto efficiency does not imply equality or fairness”. This shows more dangerous picture when an individual applies this theory to satisfy himself. When an individual applies this theory, it means he clearly says that everything is legal to him and he is justifiable to not to be sincere with anyone but himself to get satisfaction.

Through democratic process even our elected government has to follow the principle of Pareto Optimality. When government shows development projects, welfare programs or any other types of debt-financed government spending, government is liable to payback. This situation can be understood by Ricardian Equivalence. The Ricardian Equivalence states that “when a government tries to stimulate demand by increasing debt-financed government spending, demand remains unchanged. This is because the public will save its excess money in order to pay for future tax increases that will be initiated to pay off the debt”. Government can payback its debts only when it imposes taxes on people. In other words government can be better off by making people worse off (Pareto Optimality). Secondly, demand will remain unchanged only when people are smart enough or economics-literate.   

Funding, Borrowing or aids have never been as much functional as these are supposed to be. When aids and funding are taken from other institutions or country demand more to sacrifice than to acquire.  

 

Author's Note

Please highlight my grammatical mistakes and my writing style. I need a critical review from you please

Reviews

[Starmountainkid]

A human psyche whips brightness (what does this mean?) most of the time. Illiteracy provides assistance to foolishness. And it is the blessing for the one WHO MAKES FOOL TO SOMEONE.(who makes a fool of someone) Unfortunately we are living in the world where (the) “Pareto Optimality” concept prevails DOMINATNTLY .(don’t need this word) It is the concept in economics which SAYS THAT (that states)“An economic state where resources are allocated in the most efficient manner. Pareto efficiency is obtained when a distribution strategy exists where one party's situation cannot be improved without making another party's situation worse. Pareto efficiency does not imply equality or fairness”. THIS SHOWS MORE DANGEROUS PICTURE (this is dangerous) when an individual applies this theory to satisfy himself. When an individual applies this theory, it means he clearly SAYS THAT EVERYTHING IS LEGAL TO HIM (considers everything he does is legal,) AND HE IS JUSTIFIABLE TO NOT TO BE SINCERE WITH ANYONE BUT HIMSELF TO GET SATISFACTION. (and his actions are justified by his pursuit of self-satisfaction.)
Through democratic process(,) even our elected government has to follow the principle of Pareto Optimality. When government SHOWS (pursues) development projects, welfare programs or any other types of debt-financed government spending, government is liable to PAYBACK. (suffer economically) This situation can be understood by Ricardian Equivalence. The Ricardian Equivalence states that “when a government tries to stimulate demand by increasing debt-financed government spending, demand remains unchanged. This is because the public will save its excess money in order to pay for future tax increases that will be initiated to pay off the debt”. Government can payback (pay back) its debts only when it imposes taxes on PEOPLE.(its citizens) In other words(,) government can BE BETTER OFF (prosper only) by MAKING PEOPLE WORSE OFF (making its citizens suffer economically) (Pareto Optimality). Secondly, demand will remain unchanged only when people are SMART ENOUGH (don’t need this phrase) ECONOMICS-LITERATE. (economically literate)
Funding, Borrowing or AIDS (welfare) have never been as MUCH (don’t need this word) functional as these are supposed to be. When AIDS (welfare) and funding are taken from other institutions or COUNTRY DEMAND (government demands)more (sacrifice from its citizens) TO SACRIFICE THAN TO AQUIRE TO SACRIFICE THAN TO AQUIRE. (than it provides)
Hope this helps a little. I don’t guarantee I’m presenting your ideas correctly. 