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How an Economy Grows and Why it Crashes summer project
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How An Economy Grows And Why It Crashes Summer ProjectBy Zachary Stiskin1st Period
Chapter 1 : An Idea Is Born
We have been less productive and can only catch 1 fish per day only using our bare hands!!
I created Capital by Building this net, and I now can catch 2 fish per day.
Chapter 2: Sharing the Wealth
Since I am now catching 2 fish per day. I can consume 1, and save the other for a later time.
We are still only catching and eating our 1 fish per day.
Chapter 3: The Many Uses of Credit
I have now loaned Charles and Baker some of the fish that I have saved
We will pay him back with interest through our credit
Chapter 4: Economic Expansion
We are going to work together jointly to build a new, bigger fish trap so we can expand our production and catch more fish than ever!!
Chapter 5: Prosperity Loves Company
I am a chef, I cook the fish. I let the fisherman catch the fish that I cook.
I specialize in surfing and selling surfboards because I am better at surfing and selling surfboards than fishing.
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