| The purpose of this study was to examine the propositions of Jean Baptiste Say and two alternative views of economics. The aim of this study was to derive implications for program development in consumer economics.;It is argued that current consumer economics programs lack a conceptual basis for selecting and organizing subject matter, and there is no agreement regarding what should be taught in an economics course in high school. It was found that Say's propositions can provide a theoretical basis for describing economics' central premise: the relationship of supply, demand, price, and value.;Milton Friedman and Lester Thurow are recognized as leading representatives of competing viewpoints in economics. It was argued that their propositions regarding inflation, the role of government, and distribution of resources could extend the characterization of economics to include current economic problems. It was found that neither viewpoint provides a solution for the problem of inflation, and the relationship of freedom and equity to the role of government and distribution of resources remains problematic.;If there is to be systematic program development in economics, it must be based on the accepted core premises that characterize the field of economics. If supply and demand characterize economics, and price is regulated at the equilibrium point of supply and demand, and if inflation, pollution, and megabusiness are persistent episodic economic problems that impact on unemployment and, therefore, on supply and demand of consumption goods, and if consumer economics centers on human survival, then consumer economics must address maintenance or restoration of equilibrium of supply and demand relative to health care, transportation, food, and shelter.;It is a premise of this study that consumer economics is derived from and grounded in economics. Program development in consumer economics for schooling, therefore, must find the source of its subject matter in the propositions that characterize economics, that is, Jean Baptiste Say. Divergent or variant proposals, such as those offered by Friedman and Thurow, must be accurately represented in so far as they advance arguments that extend the characterization of economics. Subject matter in consumer economics must be selected, organized, and presented/represented to demonstrate the grounding, the implications, and the problems attendant to the variant proposals as they impact on human survival. |
