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The Pros And Cons Of IB Economics

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To be honest, the only thing I’ve “learned” this year is that IB Economics is a course that aims to manipulate young people by claiming to teach economics, all they do is teaching capitalism. If they named the course capitalism and would teach us how the system works including all its advantages and disadvantages, we would at least have a chance to realize what we study. Instead they call it economics but don’t mention any alternative theories and are not critical at all! I wonder how many people actually know that our book was written by someone that worked for the World Bank…
So, humans are rational beings? I think that IB Economics completely fails to explain how decisions are being made. We are highly influenced by emotions and the people surrounding us. That’s human nature, we are social animals. But well, what do you expect if you raise kids in a world where you are already told in primary school that money and making profits are the things we should aim for. …show more content…

From my point of view, it’s all related. The boss likes to use machinery because workers can create more capital in fewer time resulting in an increased surplus value and higher profits. The only problem is that new technology can be really expensive and since there can never ever be a decrease in profit (haha :D), the machines just never stop. A 24h rota became totally ordinary and while other people sit at home and are not able to find a workplace, others are completely stressed out and worked to death. One could argue now that this is just a mismatch: Employ more people and reduce working hours. But no, IB does not agree. Instead, bosses don’t even need to care about the health of their workers because in regions with high unemployment, there will always be someone they can employ next, everyone is replaceable. This is a clear failure of the system we live

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