1. Running
Head:
WITNESSED
ECONOMIC
THEORY
THROUGH
INTERSHIP
EXPERIENCE
1
Witnessed Economic Theory Through Internship
Experience
Martin Miramontes, Jr.
ECON 4898
Professor Kaplan
October 10, 2012

2. Running
Head:
WITNESSED
ECONOMIC
THEORY
THROUGH
INTERSHIP
EXPERIENCE
2
Early
in
the
19th
century
economics
was
thought
to
consist
of
many
fields
that
we
differentiate
today.
Economics
composed
of
sociology,
psychology,
and
politics
(Bowles
et
al,
2005).
Later,
economics
was
found
to
be
the
direct
decisions
consumers
made
in
a
given
market.
Thus
was
born
the
power
and
concept
of
choice.
Many
of
these
aspects
were
derived
from
placing
experience
within
theory
to
measure
the
interaction
and
willingness
of
people
to
change
to
their
surroundings
(Bowles
et
al,
2005).
This
information
and
research
is
continually
developing,
since
these
observations
cannot
be
decreed
on
pure
imperialistic
facts
since
situations
change
over
time.
The
people
must
reflect
on
the
different
choices
they
have
made
and
gauge
the
future
repercussions
that
these
actions
might
bring
about.
After
reflecting
back
on
the
various
events
that
occurred
this
summer
and
measuring
the
internship
experience
against
the
proposed
theory
that
I
had
originally
developed,
I
concluded
that
as
the
subjective
viewer
my
observations
held
to
be
true.
I
understand
that
many
of
the
original
concepts
were
under
more
speculation
than
what
was
thought;
however,
it
was
for
a
good
purpose.
It
is
strange
indeed
to
learn
the
conceptual
fundamentalism
of
what
one
already
inherently
knows.
Learning
this
logic
that
we
have
already
been
conditioned
with
is
mesmerizing,
even
more
so
when
this
information
has
already
been
gathered
by
many
great
individuals
that
predate
our
discoveries.
It
asks
one
to
beg
the
question,
how
did
these
men
with
limited
resources
already
predict
such
conceptual
work
that
seems
to
work
time
after
time.
Call
it
human
nature,
I
suppose;
but
others
have
different
theories
in
mind
about
how
history
sometimes
or
always
repeats
itself.
Today
the
economy
runs
in
various
shapes,
sizes,
and
forms;
but
an
emphasis
is
put
on
markets.
It
has
been
argued
that
Markets
are
simply
not
present
and
born
out
of
mere
existence;
they
are
created
and
inducted
by
society
itself.
State
intervention
plays
an
important
part
to
make
these
markets
appear.
A
crucial
example
that
came
to
be
when
the
state
would
intervene
severely
was
the
great
depression,
where
the
government
took
a
higher
role
and
presence
than
it
previously
held.
Before

3. Running
Head:
WITNESSED
ECONOMIC
THEORY
THROUGH
INTERSHIP
EXPERIENCE
3
the
government
intervened
in
a
scale
of
mass
proportion,
even
laissez-­‐faire
itself
was
encouraged
by
the
state
(McEwan,
1999).
Markets
can
be
calm,
productive,
but
sometimes
destructive
in
nature
given
the
mood
of
the
economy.
The
market
is
the
basic
structure
of
how
a
society
operates,
and
therefore
a
society
is
broken
down
to
components
of
the
economy.
In
order
to
keep
this
society,
and
in
turn
the
economy
going
certain
outcomes
were
expected
of
this
operation.
Many
of
these
outcomes
contributed
to
the
incoming
returns
that
investment
brings.
This
operation
was
carried
out
by
economic
socialization
of
a
given
society.
A
good
example
of
this
concept
is
observing
the
family
setting.
The
family
unit
functions
collectively,
but
the
parents
can
only
do
so
much
for
their
children,
for
the
reason
that
they
all
have
different
occupations
and
different
time
constraints.
There
are
many
aspects
of
life
that
parents
cannot
compensate
to
teach
their
children
while
they
are
away.
Therefore,
the
system
or
structure
takes
hold
to
make
up
for
lost
time.
Public
education
teachers
in
public
institutions
work
for
that
specific
structure,
and
teach
many
kids
child-­‐rearing
conditioning
skills;
which
are
useful
later
as
the
children
grow
into
more
productive
adults.
Learned
child-­‐rearing
skills
consequently
contribute
to
the
system
(Bowles
et
al,
2005).
Government
socialization
is
part
of
the
plan
to
bridge
the
gap
of
encouraging
citizens
to
become
involved,
because
realistically
the
government
cannot
do
everything
for
the
individual
itself.
“Man’s
economy
is
submerged
in
social
relationship”
–
Karl
Polanyi,
1944
(McEwan,
1999).
While
the
United
States
has
free
market
trade,
the
culture
of
the
society
decides
how
the
government
will
operate
by
the
public
choice.
Public
choice
can
be
defined
by
behavioral
economists
as,
“the
branch
of
economics
that
deals
with
the
application
of
economic
principles
and
tools
to
public
sector
decision
making”
(Arnold,
2008).
Societal
preferences
are
the
economic
drive
by
learned
behaviors.
Without
this
market
being
invoked
by
the
state,
productivity
would
be
small
for
all
production
takes
place
through
markets
for
profit;
whether
that
be
monetary
or
abstract,
self-­‐interested
profits.
The
market
system
that
runs
the
state
is
not
only
where
one
exists,
but
one
in
which
market
relations
are
the
dominant
determinant
of

4. Running
Head:
WITNESSED
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THEORY
THROUGH
INTERSHIP
EXPERIENCE
4
economic
affairs
(Bowles
et
all,
2005).
In
order
to
change
the
economy
or
economic
structure
and/or
markets
one
must
exercise
power,
and
there
is
no
better
way
to
achieve
this
goal
by
working
where
power
is
held
such
as
the
United
States
Capitol
(Bowles
et
all,
2005).
Economics
is
the
motivation
for
everything.
In
a
globalized
world,
money
is
at
the
epicenter
of
the
all
decision
making.
Even
though
monetary
policy
plays
an
important
role,
other
issues
like
environmental
and
social
matters
can
fall
into
the
domino
effect
of
how
they
function
since
money
fuels
their
existence.
In
order
to
sustain
my
civic
responsibility
after
socialization
in
this
economic
structure
that
the
United
States
upholds,
I
decided
to
take
an
internship
at
the
Capitol.
Many
individuals
focus
on
normative
economics
as
“the
way
things
should
be”,
on
the
other
hand,
in
these
dynamic
times
one
can
only
count
on
changing
positive
economics
based
on
“how
things
are”.
By
including
myself
in
this
environment,
I
am
one
step
closer
to
learning
how
to
clearly
impact
positive
economics
that
may
not
be
working
for
the
population
at
large.
Economic
policy
largely
affects
our
day-­‐to-­‐day
lives
like
our
jobs,
consumerism,
and
our
well
being
of
living.
In
a
market
system
that
is
comprised
of
many
firms,
the
United
States
Senate
and
the
government
alike
act
as
a
large
business
firm.
The
government
has
some
exceptions
in
alternative
ways
of
conducting
business,
as
they
are
a
public
entity.
A
business
firm
can
be
described
as
“an
entity
that
employs
factors
of
production
(resources)
to
produce
goods
and
services
to
be
sold
to
consumers,
other
firms,
or
the
government”
(Arnold,
2008).
When
I
first
arrived,
the
office
administrator
stated
the
office
culture
ran
on
a
horizontal
leadership
scale,
but
I
could
discern
that
there
was
much
market
coordination
implicitly
being
shown.
Market
coordination
consists
of
the
process
in
which
individuals
perform
tasks,
such
as
producing
certain
quantities
of
goods
or
services
based
on
changes
in
market
forces
such
as
supply,
demand,
and
price
(inflation,
recession,
higher
taxes,
etc.)
(Arnold,
2008).
The
office
administrator
took
on
the
role
of
managerial
coordination
within
this
process.
Interns
in
congressional
offices
are
excellent
resources
since
they
add
assets
to
the
office,
and
the
offices
receive
a

5. Running
Head:
WITNESSED
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return
in
their
investment
by
having
us
since
we
are
not
paid.
The
thought
is
discouraging
in
the
sense
that
we
seem
to
be
not
valued,
then
again
as
Economists
Armen
Alchain
and
Harold
Demsetz
suggest
benefits
in
whole
can
only
be
better
achieved
by
working
as
a
team,
instead
of
individually
(Arnold,
2008).
When
I
applied
for
my
position
as
an
intern
in
the
congressional
office
of
Senator
Mark
E.
Udall
(D)
of
Colorado,
I
had
doubts
about
receiving
the
position.
I
applied
late
and
therefore
they
had
reached
the
maximum
number
of
interns
they
could
maintain.
The
office
staff
made
an
exception
for
me,
ignoring
the
rule
of
marginal
factor
cost,
due
to
by
their
reasoning
of
my
“outstanding
credentials”.
As
soon
as
we
arrived
we
were
shown
how
the
office
operates
on
a
daily
basis.
The
first
items
we
discussed
were
the
general
rules
of
working
in
a
prestigious
place
like
the
code
of
conduct,
general
rules,
and
how
the
U.S.
Senate
operates.
Answering
phones
may
be
easy
in
other
business
or
customer
service
departments,
but
let
me
give
you
some
insight;
at
the
U.S.
Senate
it
was
not.
This
simple
task
is
more
difficult
than
it
looks.
I
was
very
confident
when
operating
the
phones,
though,
it
was
not
the
context
of
answering
the
phones
that
discouraged
me,
but
it
was
the
content
people
spoke
about.
These
conversations
would
be
between
vulnerable
interns,
which
had
to
keep
up
with
much
of
the
policy
that
was
coming
through
the
office,
and
the
rational
ignorance
of
many
of
the
constituents.
I
say
rational
ignorance,
since
that
was
the
behavior
shown
by
constituents.
Many
constituents
we
spoke
to
possessed
the
state
of
not
acquiring
information
about
various
political
ideas
and
legislation
because
the
costs
of
acquiring
it
are
granter
than
the
benefits
(Arnold,
2008).
A
specific
example
that
I
so
clearly
remember
happened
on
July
15,
2008.
President
Obama
gave
an
Executive
Order,
which
deferred
deportation
action
to
dream
eligible,
undocumented
students.
The
phones
were
flooded
with
very
ignorant
and
myopic
comments,
which
were
overwhelming.
People
would
say,
“those
illegals
don’t
deserve
amnesty
only
because
they’re
young,”
or,
“I
waited
my
turn
in
line,
why
can’t
they!”
Being
a
person
who
is
passionate
about
specific

6. Running
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WITNESSED
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issues
that
relate
to
immigration
reform,
I
had
to
hold
myself
back
from
allowing
the
person
on
the
other
end
to
get
a
piece
of
my
mind.
If
I
wanted
to
keep
my
job,
I
had
to
keep
my
thoughts
to
myself.
People
who
exhibit
rational
ignorance
and
do
not
conduct
the
necessary
research
have
no
right
to
slander
or
attack
certain
ideas.
Since
the
freedom
of
speech
is
so
highly
valued
in
the
United
States,
I
suppose
that
everyone
is
entitled
to
his
or
her
own
opinion.
For
the
first
couple
of
weeks
I
kept
inquiring
in
my
mind
when
the
real
work
would
begin.
It
finally
did
when
we
were
paired
up
with
a
legislative
assistant
that
works
on
various
issues.
Being
interested
in
the
topics
of
the
national
budget,
immigration
reform,
and
education
I
was
paired
up
with
Simon
Tafoya;
a
legislative
assistant
who
dealt
with
these
issues
and
more.
I
was
to
work
with
the
target
market
of
my
choosing
to
focus
on
means
rather
than
the
complete
ends
to
specific
“problems”.
Our
duties
collaborating
with
the
legislative
assistants
consisted
of
gathering
information
about
various
issues
occurring
in
our
state
and
at
the
national
level
that
related
to
the
target
markets
we
chose.
We
would
go
to
hearings
from
different
House
and
Senate
committees,
conveying
information
on
how
various
offices
were
working
on
these
present
matters.
Coordinating
attention
to
media
efforts
was
also
an
integral
part
of
the
research
being
conducted
on
pending
issues.
We
would
gain
a
general
consensus
on
what
was
being
done
or
the
work
that
was
lacking
towards
a
resolution.
One
example
that
I
specifically
worked
on
was
the
efforts
of
Metropolitan
State
University
in
persuading
the
Colorado
legislature
to
pass
the
ASSET
Bill.
The
bill
would
allow
for
undocumented
students
to
pay
“Standard-­‐
Rate
Tuition”
that
is
slightly
more
than
in-­‐state
tuition,
yet
lower
than
out-­‐of-­‐state
tuition
to
all
publicly
funded
higher-­‐education
institutions.
Addressing
issues
that
had
not
arisen
yet
was
a
difficult
task,
for
no
one
had
championed
the
thought
or
planning
of
these
issues;
yet
it
was
necessary
to
carry
out.
An
example
of
such
thought
was
a
method
to
offer
firefighters
comprehensive
coverage,
whom
were
so
avidly
fighting
the
vigorous
fires
that
were
plaguing
Colorado
during
the
summer.
Firefighters
are
considered
by
the
State
of
Colorado
to

7. Running
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be
seasonal
workers
and
therefore
have
no
health-­‐insurance
coverage.
Many
were
being
injured
and
putting
their
lives
on
the
front
lines
to
save
the
breath-­‐taking
terrain
that
Colorado
offers.
This
is
why
our
office
first
championed
legislation
that
would
allow
for
fire
fighters
to
get
comprehensive-­‐health
coverage.
With
much
of
this
research
I
was
helping
to
provide
the
building
blocks
of
the
foundation
for
future
legislation
that
would
greatly
impact
many
constituents.
In
some
instances
our
attention
and
research
was
required
because
we
had
expertise
or
experience
with
regards
to
a
specific
topic.
Since
much
of
the
legislation
that
is
proposed
requires
extensive
research
to
understand
the
entire
picture,
legislators
do
not
know
all
the
answers.
I
never
thought
that
my
experience
would
help
the
case
on
the
Senator’s
renewable
energy
initiatives,
for
which
he
was
campaigning.
The
Wind
Production
Tax
credit
was
up
for
renewal
and
the
Senator
Udall
was
advocating
and
imploring
his
colleagues
to
not
allow
this
tax
credit
to
expire.
Wind
energy
is
a
vital
part
of
the
Colorado
economy,
a
young
industry
that
seems
very
promising.
When
I
was
in
high
school
I
participated
in
a
dual-­‐credit
enrollment
at
Northeastern
Junior
College.
Northeastern
Junior
College
was
special
in
that
it
was
the
only
public
institution
that
provided
a
wind-­‐energy
program.
Wind
energy
is
a
continually
growing
prospect
in
Northeastern,
rural
Colorado
where
I
am
from.
I
knew
many
facts
about
the
program
and
spoke
to
my
contacts
there
to
receive
more
information
on
the
program.
With
the
research
I
was
able
to
attain
and
the
experience
of
attending
the
NJC
campus
allowed
the
senator
to
make
a
convincing
argument
that
detailed
if
this
wind
production
tax
credit
expired,
Colorado
and
many
states
alike
would
lose
a
vital
industry.
Many
of
these
research
efforts
and
duties
carried
out,
I
explained
as
the
utilization
of
human
capital
to
be
a
medium
for
information.
I
as
the
intern
am
human
capital
used
in
an
economic
model
for
public
policy.
Human
capital
is
described
to
include
education,
experience,
knowledge,
and
job
skills
(Arnold,
2008).
By
being
educated
on
the
opinions
of
others
and
researching
concepts
I
acted
as
a

8. Running
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conduit
to
convey
the
information
to
those
higher
in
the
chain
of
command,
so
that
they
may
use
this
information
to
put
action
into
play.
When
we
were
not
busy
at
work
we
would
be
guilty
of
taking
part
in
shirking.
Shirking
in
the
office
setting
was
not
frowned
upon
since
we
were
unpaid
staff.
To
my
surprise
it
was
actually
encouraged.
We
could
attend
any
functions
we
so
pleased
on
Capitol
Hill.
A
historic
event
that
took
place
this
summer
was
the
upheld
legislation
of
the
Affordability
Care
Act,
formally
known
as
“Obamacare”,
by
the
U.S.
Supreme
Court.
Witnessing
the
media
crews,
protestors,
and
numerous
stakeholders
coming
to
see
the
commotion
was
quite
a
sight.
This
event
was
in
the
interest
of
everyone
since
the
Affordability
Care
Act
would
reform
the
health
care
industry,
as
we
knew
it.
The
days
following
the
event
many
constituents
called
to
state
that
their
elasticity
to
the
proposition
was
not
high
at
all,
complaining
the
legislation
would
cost
even
more
money
in
the
way
of
a
tax.
They
failed
to
see
how
this
piece
of
legislation
passed
in
2010
was
beneficial
for
the
State
of
Colorado
by
means
of
marginal
returns
the
American
people
would
receive.
Gaining
a
better
perspective
into
the
complex
process
of
getting
legislation
passed
was
an
excellent
way
to
observe
the
true
behavior
of
politics.
The
behavior
of
politics
can
beyond
doubt
be
unpredictable
and
ever
changing.
A
major
issue
that
was
reoccurring
in
the
Senate
and
House
was
the
partisan
gridlock
between
republicans
and
democrats.
While
the
Democrats
were
trying
to
compromise
on
much
of
the
legislation
that
was
proposed
and
voted
on,
the
republicans
were
being
resistant
by
voting
against
or
drawing
the
motion
of
filibustering.
It
would
appear
that
the
republicans
formed
a
cartel
together
between
many
members.
They
decreased
output
by
means
of
votes
on
voting
“yea”
towards
a
specific
bill.
They
increased
the
price
of
their
vote
to
not
compromise
with
democrats.
The
democrats
would
have
to
vote
in
the
republicans
favor
to
gain
their
attention;
it
was
that
or
the
impeachment
of
President
Obama.
This
statement
is
not
absolute
to
all
republicans;
nevertheless
progress
was
dwindling.

9. Running
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9
Special
interest
groups
did
not
help
the
case
since
they
were
constantly
present
to
fight
for
their
own
self-­‐interest
on
making
money.
Due
to
their
interference,
many
decisions
were
being
made
at
the
margin
when
time
came
to
vote.
Many
indifference
sets
were
made
at
the
conclusion
of
legislation
since
all
the
proposed
amendments
yielded
almost
the
same
result
as
the
original
idea.
Indifference
sets
are
said
to
be
group
of
bundles
(amendments)
of
two
or
more
goods
that
give
an
individual
(constituents)
equal
total
utility
(Arnold,
2008).
Voting
went
one
way
or
another
for
the
reason
that
all
members
of
congress
would
weigh
their
comparative
advantage
towards
their
individual
pursuits
against
what
the
people
desired.
Logrolling
occurred
constantly
since
many
members
of
congress
would
indicate
they
would
vote
in
one
way
but
vote
in
another.
Logrolling,
which
is
described
as
“the
exchange
of
votes
to
gain
support
for
legislation”,
is
a
rather
smart
move
because
a
vote
is
the
only
thing
to
bargain
with
when
it
comes
to
that
individuals
future
prospects.
Having
high
positions
of
power
allows
for
members
of
congress
to
act
on
their
own
discretion.
Politicians
hold
asymmetric
information
in
ample
amounts
on
categories
such
as
voting,
national
security,
and
committees.
The
asymmetric
information
that
the
seller
(member
of
congress)
in
the
market
exchange
has
and
the
buyer
(American
constituents)
does
not
have,
gives
politicians
the
upper
hand.
The
behavior
of
relationships,
which
I
created
in
the
office,
allowed
me
to
see
where
economic
theory
would
fit
in
the
minimalist
of
interactions.
We
as
interns
came
primarily
from
the
state
of
Colorado,
with
the
exception
of
three.
We
all
attended
different
universities
across
the
nation.
Many
of
my
fellow
interns
held
more
experiences
as
their
parents
were
more
politically
inclined.
A
large
income
inequality
between
all
the
interns,
determined
if
one
was
politically
inclined
or
not,
and
who
has
the
privileged
of
different
experiences.
I
would
have
to
put
myself
at
the
bottom
of
the
income
inequality
scale.
Sometimes
I
felt
inadequate
for
I
did
not
know
information
that
many
did.
I
rationalized
that
even
though
I
was
at
the
bottom
of
the
income
distribution
scale,
due
to
my
background,
I
did
not
fret

10. Running
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10
since
this
outlined
knowledge
by
experience.
We
were
all
equal
when
it
came
to
competency.
There
are
still
many
barriers
to
entry
for
myself
to
a
market
of
success,
nonetheless,
I
am
headstrong
in
following
my
pursuit
to
enter
and
succeed
in
that
market.
I
never
really
understood
that
a
current
structure
such
as
the
U.S.
Senate
would
demonstrate
different
areas
of
economic
theory
or
concepts.
Traditional
economics
dictates
how
we
can
measure
theory
with
totals,
averages,
and
aggregate
outcomes;
actual
numbers
and
graphical
models.
Today
we
still
rely
on
traditional
economics,
meanwhile
as
a
society
and
economists
have
witnessed,
behavior
of
the
stakeholders
plays
a
just
as
important
role.
The
first
concept
that
was
proposed
in
the
initial
paper
outlines
the
Invisible
Hand
Theory
constructed
by
Adam
Smith.
This
concept
falls
inline
with
the
mission
of
the
government
because
it
was
invoked
for
the
well
being
of
people.
For
those
who
are
involved
with
government,
their
primary
goal
is
to
impact
the
nation
at
large
in
one-­‐way
or
another.
The
theory
of
what
is
seen
and
what
is
not
seen
dictates
that
the
decisions
we
make
may
have
future
ramifications.
Respective
government
offices,
to
avoid
negative
effects
in
the
future,
conduct
a
considerable
amount
of
market
research.
When
negative
effects
befall
the
American
people,
reinforcements
are
experienced,
that
hopefully
teach
them
to
think
twice
about
their
choices.
Constituents
that
demonstrate
rational
ignorance
are
puzzled
by
the
concept
of
choice
given
by
their
free
liberties.
Sometimes
this
becomes
quite
a
burden
it
is
baffling,
that
is
why
the
task
is
delegated
to
those
who
fish
in
a
pond
that
contains
the
all-­‐around
decisions.
Since
most
of
the
American
populous
is
uneducated,
the
decisions
are
left
up
to
those
who
have
the
educational
capacity
to
determine
what
will
serve
benefits.
The
intern
experience
at
the
U.S.
Senate
is
reinforced
with
the
theory
expressed
because
this
behavior
was
observed
in
that
specific
environment.
It
is
astonishing
to
see
how
economics
dictates
so
many
of
our
interactions
in
contemporary
society
today.
The
main
cause
to
this
observation
is
the
reality
of
capitalism,
and
how
it
has
evolved
throughout
the
existence
of
our
nation.
Due
to
the
increasing
demands
and
inequality
that
capitalism

11. Running
Head:
WITNESSED
ECONOMIC
THEORY
THROUGH
INTERSHIP
EXPERIENCE
11
has
left,
state
intervention
was
necessary
to
foster
a
welfare
state
within
a
developing
nation
(Schweickart,
2011).
Individuals
are
all
referred
to
exhibit
the
behavior
of
the
economic
man,
which
refers
to
the
assumption
that
human
beings
are
calculating,
amoral,
and
self-­‐interested
(Bowles
et
al,
2005).
Even
though
state
intervention
is
present
within
the
working
structure
of
our
nation
and
society,
the
open
free
markets
allow
for
the
free
opportunity
to
succeed
as
an
entrepreneur.
The
world
is
viewed
through
three-­‐dimensional
economics
that
consist
of
competition,
command,
and
change;
these
three
aspects
are
what
make
us
tick.
The
drive
to
excel
in
the
market
and
become
successful
may
be
argued
by
the
concept
of
Social
Darwinism,
which
creates
winners
and
losers
by
survival
of
the
fittest
in
society
(Schweickart,
2011).
Without
these
two
categories
of
players,
the
system
would
not
be
allowed
to
function.
Who
is
to
blame
about
economic
down
turn,
the
government
or
the
free
market?
During
the
financial
crises,
it
is
thought
that
the
banks
led
a
financial
coup
de
ta
against
the
United
States
and
its
citizens
from
falling
out
of
the
market
and
being
a
big-­‐time
player.
The
mere
existence
and
conditioning
of
human
beings
to
power
the
monster
that
we
call
“capitalism”
seems
apparent
as
time
goes
on.
Interactions
between
people
mean
the
terms
of
exchange.
Society,
as
a
whole,
functions
this
way.
Since
economics
relies
on
totals,
averages,
and
relationships
it
is
blind
to
the
interactions
between
people
and
the
idea
of
choice.
Experience
should
be
preferred
over
cold,
narrow
calculated
numbers
and
totals.
The
Paradox
of
Choice
is
difficult
to
deconstruct
because
the
interpersonal
utility
comparison
explains
that
the
utility
of
one
may
not
be
the
same
as
another.
A
motive
for
choice
of
many
constituents
may
be
the
upcoming
election
and
who
the
people
elect
to
change
the
economic
structure
by
utilizing
their
power
of
the
title
they
uphold.
The
best
area
to
use
three-­‐dimensional
economics
is
change.
Change
is
how
one
can
get
involved
to
create
reform
where
it
is
duly
needed.
We
are
all
residual
claimants
of
all
collective
work
done
in
public
policy
in
one
form
or
another.
The
idea
of
deconstruction
of
the
system
as
ones
own
can
be
the
determination
needed
to
bring
about
that
change,

12. Running
Head:
WITNESSED
ECONOMIC
THEORY
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EXPERIENCE
12
then
again
the
system
already
rules
the
people.
If
one
cannot
beat
the
system,
then
join
it
but
drive
it
in
a
new
direction
that
would
benefit
many.
Reform
and
change
take
time,
so
the
efforts
of
many
will
be
the
catalyst
for
those
future
goals
and
milestones
accomplished.
Even
though
my
home
state
witnessed
a
thirsty
drought,
ravaging
fires,
and
fallen
citizens
of
a
massacre,
I
recognized
that
I
was
able
to
make
a
positive
change
following
my
pursuit
to
become
engaged
in
the
political
sphere.
Since
we
have
become
socialized
to
contribute
to
the
system,
if
I
hadn’t
taken
this
position
someone
else
would
have.
Alfred
Marshall
said
it
quite
eloquently
when
he
described
the
system
of
economics.
“Economics…is
not
a
body
of
concrete
truth,
but
rather
an
engine
for
the
discovery
of
concrete
truth.
Being
a
part
of
this
engine
as
an
intern
allowed
for
the
discovery
of
that
concrete
truth!

13. Running
Head:
WITNESSED
ECONOMIC
THEORY
THROUGH
INTERSHIP
EXPERIENCE
13
References:
Arnold,
Roger
A..
Microeconomics.
9th
ed.
Mason,
OH:
South-­‐Western
Cengage
Learning,
2010.
Print.
Bastiat, Frédéric. Selected Essays on Political Economy. Seymour Cain, trans. 1995.
Library of Economics and Liberty. Retrieved July 11, 2012 from the World
Wide Web: http://www.econlib.org/library/Bastiat/basEss1.html
Bowles,
Samuel,
Richard
Edwards,
and
Frank
Roosevelt.
Understanding
capitalism:
competition,
command,
and
change.
3rd
ed.
New
York:
Oxford
University
Press,
2005.
Print.
Krugman, P. R. (2012). Macroeconomics (3rd ed.). New York, N.Y: Worth
Publishers.
MacEwan,
Arthur.
Neo-­‐liberalism
or
democracy?:
economic
strategy,
markets,
and
alternatives
for
the
21st
Century.
London:
Zed
Books,
1999.
Print.
Pennington,
M.
P.
(2012,
January
10).
Can
Government
Solve
the
Paradox
of
Choice?
|
LearnLiberty.
LearnLiberty
|
Learn
about
the
ideas
of
a
free
society.
Retrieved
June
29,
2012,
from
http://www.learnliberty.org/videos/can-­‐government-­‐
solve-­‐paradox-­‐choice
Schweickart,
David.
After
capitalism.
2nd
ed.
Lanham,
Md.:
Rowman
&
Littlefield
Publishers,
2011.
Print.