How is 2016?

It is near the end of 2016, there have been lots of surprising and important events. I think it is a good time to conclude this year. There are two most memorable events: one is Brexit, the other is the US president election. Both of them show one thing is that the majority of the population has different opinions with the society elite class. Such phenomenon may reflect to the economy as well.

When people have different opinions and thoughts, they definitely have behaviours and different behaviours will lead to different individuals and a complicated and less predictable economic outcomes. However, although different players have different behaviours, unlike the political system, in the economic system, different people have different abilities to influence the economy. In a political system, the middle and lower classes may have greater power than the top wealthy class due to their large population size; however, in an economic system, the top wealthy class has greater resources than the other classes, that in some countries, top 10% of the population own over 90% of the entire wealth. Once they have a greater proportion of the wealth, they gain greater power in the economy. Because in the economy, the wealth could stimulate the economy and distribute the resources in the economy. Therefore, in the economy, the economic outcome will favour the interest of the top wealthy class, unlike the political system outcome is more likely to favour the middle and lower classes.

Overall, the economic outcomes may be less surprising than the political outcomes.