The act didn’t address the problems the country was facing because it didn’t require the banks to give out loans and it used the people’s money in an inappropriate manner. If the government was going to give the money, it should have been regulated as to how it was spent. The banks kept the money, raised requirements for loans so that most people couldn’t get them and resulted in no money movement and a stagnant economy. The money was supposed to ‘trickle down’ to the people, but the opposite effect occurred that was wanted by the act
They feared once these principles were established they could be extended to ‘soak the rich’ and even out the unfair distribution of wealth in Edwardian Britain. The land taxes were especially controversial, as they would not actually produce a great deal of tax revenue. The Lords denounced this proposal as a ‘class war’. The Lords believed it was their duty to restrain governments from making sweeping changes the electorate had not voted on. A final less important reason was that the Lords believed that it was the fault of the poor that they were destitute in the first place.
This causes many issues with people and society. There becomes an unneeded amount of people on the streets. This is an ethical problem because the people who choose to be on the streets could be off of the streets but they choose to be lazy and unmotivated although they shouldn’t be because they can relieve themselves of the predicament they are in. This is ethically wrong because people shouldn’t be homeless by choice. It’s not okay because it causes more money to be wasted towards people that shouldn’t be helped at all.
A monopoly is where you can set prices almost everywhere you want, and there is no other competition. This is referred to as predatory pricing, where companies charge a price lower than production costs. These companies believe their competitors can’t afford the loses. Cable companies don’t worry about competition due to the protection they enjoy from the government. The cable companies get away with this by claiming they do not have competition, cities award them the contract by providing coverage, even though they may not have the lowest price.
P.65 Because political and economic factor listed above; In addition, government bureaucrats salaries are very low, inevitably demand bribes from any company that cross their path meaning a long line of officials might require bribes. c. Based on this case and what you have learned in this chapter, what are the consequences of corruption on a country? Ppt
Globalisation causes Economic inequalitiesEconomic inequalities in any country arise from overconcentrations of wealth & power. Imbalances in the distribution of power can lead to a lack of political representation in government for some groups, the creation of power elites, the loss of personal freedoms & civil liberties, & abuses of authority, of which genocide is an extreme example. Imbalances in the distribution of wealth can lead to the loss of economic opportunity & social mobility, the creation of a permanent underclass, & conditions of illiteracy, unemployment, homelessness, hunger, & disease. The social issues caused by economic inequality are a threat to global security. The relationship between economics & global security is complex & not necessarily an immediate link to make.
Poverty cannot be due to just the fluctuating economy and job market, changes in family composition, or simply laziness (1). This problem can mostly be attributed to rising immigration, an unstable and irrational welfare system, and stereotypical racist behaviors
With a lack of communication on both sides and an unhappy country, it would have been very difficult to govern such a hostile environment as no members of public would have followed the laws or asks of their leader. Finally, the diverse economy makes laws very hard to put into place because certain introductions are going to benefit some whilst disadvantaging others e.g. The introduction of taxes for the rich to pay for the peasants would not have gone down well with some, but helped others back into a quality of life. For the above reasons, Russia was extremely hard to govern in the 19th Century. “Why was Russia so hard to govern in the 19th Century?” Russia was so hard to govern in the 19th Century due to the political situation, angry people and diverse economy.
• These all factors are affected by high inequality. • High inequality also reduces people accessibility towards resources even it threatens the political condition of the economy, discourages the behavior of people towards individuals or enterprises and this become the hinder towards economic growth. • If we talk about countries which have high growth but low living standard then I will prefer countries like India and China in both the countries there growth rate is rising but there standard of living is not that much high. • GNP is the value of product and services by a labor and property which is supplied by the people of that country and it is calculated in one year but it is not considered the way on which the wealth is distributed .in case of underdeveloped countries only one percent of the population is maybe controlling 80 percent wealth. • Economy may be expand and by this GNP increase at high rate but the people may not experience any of the change or rise in their living
Klain (2013) stated, “The government is hurting the [economy] recovery, and badly. But it’s not because it’s spending too much, or because of concerns over future policy. It’s because government, at all levels, is spending and investing too little.” (Grounds) 4. Opposition I: Government should not give Financial Aid to Mexicans. Mexicans might leave the country later.