1.
In your own words and in a maximum of 250 words for each concept, briefly
explain the essence of each of the following emerging economic ideas. Imagine
explaining them to someone who has not studied economic history. What are
they really about? (10 points)
A. Caring Economics
Caring Economics talks about the generation today. It also tackles about the living of this
today generation. It also describes the prosperity of the people living in the country. The
prosperity may include if someone has a great wealth or have more wealth and can use that
wealth for more than what he/she needed as consumption. Consumption is something that a
person buys to meet its needs and wants in everyday living. It is also spending the utility of a
person for everyday use. On the other hand, in caring economics it also describes about the
income of a person. Income may vary and it also depends of what source of income a person
has. The main core of the caring economics is that being able to think outside the box and to
care for individual, organization, society and even the environment. It revolves in the word
“care” that can be beneficial for everyone. In contrast, the cultural deviation can also have
negative impact in economic policies. Caring Economics can have ways to make everyone’s life
better. The people should have a caring revolution that can lead to work of caring and care
giving which can result to a better life. As a citizen of the country and as economic students, we
can achieve this better life that we wanted to. We can inform both our national and local
leaders about how caring can change a society. The most important way to have a better life is
starting to care for ourselves, society and to our economy.
B. Regenerative Economics
Regenerative Economics is all about renewing the economy to make it more productive
in regenerating capital assets. It is where goods and services produce that is enough to provide
for the living of a well – being. Regenerative economics uses the natural resources as a provider
in order for someone to survive. It is a way so that a person can live. It also focuses on the
supply that it can give. Regenerative economy is favored on the capitalist side since it has a
support system that is known as the environment. Its core idea is to have pattern that can help
build healthy, productive, and stable economic system. If the economic system is healthy there
would be a fair competition and it can even give advantages for both producers and consumers.
Regenerative economics also wants to restore the strength of the economy. It forms a way to be
innovative to save economy and even the environment. The goal of regenerative economics is
to have an abundance effect of all people who lives in the society. It also wants to maintain not
only good but a right relationship and restoring humanity. Its scope is for the people not to be
blinded about money. The wealth that a person will be acquired is meant to be shared or help
people especially those who are in need. Regenerative economics also means preserving,
reusing, recycling, reducing materials that will be used up for businesses. As a whole, humans
should live in a balance way in such a way that as economy grows it also helps preserve and
protect environment.
2. Still in your own words, accomplish the following summary table about the
emerging economic ideas studied. Use easily understandable key
words/phrases. You may further explain below the table if necessary (30
points):
Idea Definition Key Key Strategies
Principles/Elements (How the Idea
& Framework will be
Accomplished)
B. Caring Caring economics Caring revolution – if In order to
Economics is a way to make everyone should care achieve or
people have the world will be a accomplish the
better life by better place than key principles/
caring and care someone could elements and
giving to imagine. framework, they
everyone. It has a Work of caring and should have a
great role to care giving – anyone more capable and
make economy should do this since caring workers to
more productive. it’s free to care for make the
It is not only anyone and economy
benefecial for everyone. productive. The
one's life but it Better life – if government
can also help the everyone should do should support
country's the caring, all of us organizations and
economy. can have a better even businesses
life. that have care
giving. Volunteers
should be
provided
financially and
they must be
appreciated and
should have
incentives. There
will be no poverty
and hunger if
everyone should
care also for
everyone
especially those
who are in need.
B. Regenerative Regenerative 1. In Right In order for the
Economics Economics is all Relationship- regenerative
about renewing There should economics to be
the economy to be no accomplish or
make it more separation in achieve, the
productive in humanity. community
regenerating 2. Views Wealth should have
capital assets. It Holistically – people who
is where goods wealth should maintain good
and services be used to relationship,
produce that is help those someone who
enough to who are in cares for the
provide for the need environment and
living of a well – 3. Innovative, can think how to
being. Adaptive, use used
Responsive – resources to help
using natural protect and to
resources and reduce waste for
preserving it to the environment.
save the It should have
environment people who are
4. Empowered innovative to
Participation – make a better and
it talks about safety
belongingness environment
in the society
5. Honors
Community
and Place –
having healthy
community
and helping it
to be at peace
6. Edge Effect
Abundance –
each and every
one should be
abundant
especially in
being
innovative
7. Robust
Circulatory
Flow – just like
humans,
people should
help
protecting
environment
8. Being in
Balance – it
should have a
harmonious
community
