Essay: Increase In Oil Prices

Sample Essay Oil Prices

Oil prices have also increased showing that the growth of the economy is finished as it is a significant indication of how our economy is. During early 2008, the spike in prices caused companies to suffer leading to low employment for those who worked in such related areas. It is automatic that low employment leads to low production thus a threat to economic growth.

Later in the same year, prices of the economy rose high to the extent of wanting to nip the economic recovery of late 2008 (Heinberg, 2003). If oil prices can destroy our economy instead of building then economic growth is finished if this will be the trend. It is also evident that when financial institutions for example banks had no money to lend to the public due to a reduction in employment making people not save money in the banks as result of too little money to be to be saved, economic growth was seen to be finished (Handy 1985).

People are not saving as a result of bad spending habits by not following a scale of preference. Without investments in the bank by the people the growth of the economy is worth the statement it is finished. End of growth in China’s economy showed that the growth of the economy is finished as seen by Heignberg

To summarize my paper, I agree with Heignberg that the growth of economy is finished but a finished economy should not worry us since statistics show that life in equilibrium state economy is better than life in a developed economy also the end of the world is not marked by a finished economy.

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