Social Justice: A VERIFIED TOOL FOR ECONOMIC STABILITY.

 Economic stability is of course one of the relevant keys of social justice. However, it's very important to firstly understand what economic itself is, how it can be stable and of course, the tools use to measure its stability. 

   New English Dictionary defines  Economy as "pertaining to the study of money and its movement ". At times, individuals see economic definition so differently, but it's very important to see economic generally as "the social science that studied how people interact with value; in particular,  the production, distribution and consumption of goods and services. 

   Apparently, economic stability is the absence of much and over fluctuations in the macroeconomy. An economy with fairly constant output growth and low and stable inflation would at time be considered as economical stable. 

  Hence, there are three tools used to measure the health and stability of the economy. All economies share these three tools as goals. The first three primary tools to measure the economic stability are Gross Domestic Product (GDP), Bureau of Labor Statistics (BLS) and the Organization for Economic Co_operation and Development (OECCD). 

Over times, some economists have highlighted limitations and biases in the (GDP)   calculation while organizations such as the (BLS) and the (OECCD) also keep relative productivity metrics to gauge economic potential. Some may even at time suggest measuring economic growth and stability through increases in the standard of living,meanwhile, this can be tricky to quantify. 

  The secondary tools can be the following; growth, high employment and price stability. Growth economy provides people with goods and services and economists measure its performance by studying the gross domestic product (GDP) -the market value of all foods and services produced by the economy in a given year. 

Name: Bamidele Toyeeb Olatunbosun

Code No: OS/21B/0659

Institution: Federal Polytechnic Offa. 

State of origin: Kwara State.