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Equilibrium Concept: A Socio-Economic Perspective Essay

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Updated: May 16th, 2022

It is very difficult to take straight away the word society to mean civilization or group of people the way it is, simply because there are some aspects that need to be addressed in order to understand societal existence, economy and equilibriums, if the United States build a society for herself and Muslim world do the same, then we are a far away and we shall not stop to drift apart day by day, although is common that humanity is prone to divisions which leads to exploitation and injustice.

Social-economic equilibrium

The society we leave in and the economy we operate in brings together two complex situations that need a balance. The word equilibrium of society alone tries to explain the fact that when an economy is in equilibrium then even the society as an entity is also in equilibrium or balance in other words because the two of them are to some extend interlinked. But in some rare cases where the economy seems unstable, disequilibrium or some sort of imbalance then obviously the society will also be disequilibrium or economic collapse which will portray a total collective societal failure. Although in some instances the general picture of the economy may be showing that the performance is improving or relatively showing good encouraging signs of performance, there might be a lot of hidden and underground social war and disorder that will erupt into the full scale with time, the general outlook picture of the social order might be convincing or even intact (Mark 34).

Our societies cannot be properly explained without a mixture of the economy where the issues regarding equilibrium aspects come in to support the neutrality on how the society should look. Economic equilibrium is a package can better be explained as a proper measure of neutrality, this means that when all issues or ideas are brought into a weighing scale there is a standard measure or in other words all the sum of transactions that take place can be evaluated. What happens is that the society or an individual comes up with the problem that needs equilibrium assessment, and with the use of ledger approach/theory of equilibrium, namely the losses, property, output, liability, profits, expenses, consumption and earnings, the pattern of expenditure or the way incomes is distributed in a given economy is determined.

Another aspect that seems to be pertinent in the effects of social-economic equilibrium is the equilibrium based on dynamics, this suggests that there is a slow but seen progressive rates of growth in supply and demand, capital investments, plus the much-needed services to maintain the societal balance in the long run, although balance specification needs to be noted (Maco 22). From these points of view we can try to use some anticipating theory by employing important variables integrated together to explain the causes and the effects in a given economy, the problem which might come up is that the causes might seem to be the effects and effects be the causes, while the relationship of the variables might differ contrary to the expectations of the model, therefore society need to be flexible.

Conclusion

In the nutshell my argument still stands that the economic equilibrium that exists with us and the social arrangement give incorrect reality, the interrelationship between production and social order gives us the basic construction upon which social edifice can be present, this is when the employees carry out extra labor and the rate of their production increase or the additional net value. At this point in question,

the ceteris paribus of the entire financial system which has the base on this fact with unstable exchanges can still be noted continuing, for example the capital that is available can be seen accumulating despite the constant market fluctuations or rather disequilibrium. This has continued to increase the units of production and distribution since capitalist production is globalized for the society it tends to comply with any economic changes that need to be balanced in order to survive.

If at all the percentage of the population actively participate in the industries that are not agriculturally based is between 20% and 30% then this is what can be suggested to be a balanced economy or balanced social-economic makeup, but in case the percentage goes beyond 30% then the economic area will be termed to be industrially developed, and still as the number of percentages continues to increase above 30% the more an area gets industrialized (Kyle 4). A good example can be seen from over-industrialized countries that have the tendency of grabbing all rich agricultural areas of most countries and take them to be their satellites, these same developed nations also find it better to control these regions for their own advantage especially to act as a market for their ready finished goods, incase the expected market for their goods is not available then it means that they will experience an economic despair or depression with high unemployment tendency. Therefore communists and non-communist nations have the same aggressive ideology; they want to make sure that the cow they tied at their doorstep feeds on the limited quantity of fodder while it gives recommendable output with minimum investment. However, proper steps ought to be taken in order for each and every country to enjoy the social-economic equilibrium.

Work cited

Kyle G. Marxian versus Conventional Economics.2004: 2-5

Maco J. Understanding the Notion of equilibrium. Focus on the changing g aspects of the society New York: sage publication 2006. (2) 11-23.

Mark D. The Socio-economic Equilibrium of the World. Following the trends affecting the society.macmillioan publishers.(2001).34-37

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