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Economic goals and Values: Australia vs Angola

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Economic goals and Values: Australia vs Angola

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by Dillon Jensen hour 6

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How does one economic goal have an impact of another economic goal?

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How does one economic goal have an impact of another economic goal?

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When a country is trying to achieve more than one economic goal, it is often that the 2 goals are related and improving one goal, might affect the other goal negatively. For example, if Angola is trying to improve their security, it will cost a lot of their limited money supply, and they might not have enough to equally distribute the money throughout government programs. Angola can decide to spend money to improve
security or wealth distribution, but not entirely both.

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Australia vs Angola: Economic effeciency

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Australia vs Angola: Economic effeciency

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Australia is a far richer country than Angola; The GDP in Australia is 67,458.36 USD, where in Angola it is only 5,783.37 USD. Australia is also  much larger than Angola and has a higher population, so the government cost is much higher than the government cost in Angola. This is compensated with the higher supply of money in Australia, where as Angola cost less to run, but there is just so little money that the Angolan government must spend its money much more carefully and efficiently if it wants to reach any economic goals, where Australia has a lot more money as a safety net, and can achieve more economic goals more easily.

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Economic freedom is very similar is these 2 countries. Both have enough to or not to work anywhere in a public or private sector and where to live and spend your money. The biggest difference between the 2, is how necessary it is to have a job. 60% of Australians ages 15-25 have a job, where as 85% do in Angola. This 25% difference is because it is more likely a family will need its children to help paymfor expenses because of the low income in Angola.

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Australia vs Angola: Security and predictability

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Australia vs Angola: Security and predictability

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Australia is a relatively neutral country, similar to Angola,. Both countries have only a small percentage of the government money soent on military and defense. This is helpful for other programs because  more momey is used for those, however they arent as prepared as they could be for war ir conflict. However be Australia is much more developed, their technology is superior and more prepared for conflict with less money, Angola is still developing and it is wise for them to stay neutral until they are more developed and can put more money into their defense.

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Equity in Angola, is much more unequal than in Australia. While Australia is much more like the US, where there are lower, middle, upper, and ultra wealthy classes of citizens. In Angola,  it is much more drastic, a vast majority of the citizens are poor or middle class, with a small upper class, and very small super wealthy top 1%. In Angola the richest people are very far above the bottom 90%, where as in Australia it is much more balanced and equally distributed. You can see how large of a percent the income difference is in Southern Africa, where Angola is located.

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Australia vs Angola: Growth and innovation

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Australia vs Angola: Growth and innovation

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In economic growth, the countries seem to be a lot closer. Australia actually has a relatively low GDP growth rate of 3-4% per year. In contrast, Angola had around a 10-15% GDP growth rate per year. This is likely due to there being a lot more space to grow in Angola and improve, where in Australia, the country is much more developed and increasing growth is much harder on the larger scale.