The American Recovery and Reinvestment Act Pros and Cons Thomas Bagwell Mr. Dupree POLS 102 Introducion America is a capitalist society, but the government often steps in to try to fix things. As the economy collapsed, a large step was made with the American Recovery and Reinvestment Act of 2009. It is debated whether this stimulus package was effective or not. Capitalism Our society is based is based on Capitalism. Capitalism is a free market exchange.
The continued power grab will destroy the capitalist system shackling the limbs of the free market. The regulation imposed creates factions limiting the ease of market entry. The environment that our American business calls home must remain competitive assuring quality goods to consumers while encouraging technological advancements. The path our federal government is currently on is a path of non-democratic regulation that is a threat to the growth and prosperity of our country. It is simply a matter of the true meaning of the Constitution, specifically the commerce clause that must be addressed.
It is this force that essentially created this gap. Western nations taking valuable resources, including humans, from “third-world countries” allowed for those countries to be set back. Through economic means, the western countries underdeveloped their colonies by changing the industries to provide only raw materials. Yet, it is claimed that those countries created their own conditions and are the only ones to blame for their lack of advanced culture. Overpopulation is another idea used to blame the “third-world countries” while countries in Western Europe have a higher density.
In terms of consumerism, the good life is damaging to the environment, places too much emphasis on money, and it dwindles the importance of non-market values. According to Annie Leonard’s “The Story of Stuff”, our current materials economy is a commodity chain in which goods go from extraction, to production, to distribution, to consumption, and finally to disposal. The system sounds stable but it is actually in crisis. Anyone with a simple understanding of mathematics can tell you that you cannot run a linear system on a finite planet in the real world. In order for us, the consumers, to get all of our fancy products and up-to-date technologies, a process that we turn a blind eye to takes place.
This cartoon is a prime example of what happens when a trickle-down economy fails to work. Trickle-down economics is anti-liberal as it is a form of government intervention in the economy. As the government tax the wealthy less they provide no benefit for the country, they are only widening the gap between the rich and the poor. By widening the gap they are restricting the political and economic freedom of the citizens. This restriction on the citizens goes against two of the three freedoms (social, economic, political) classical liberalism was founded on.
According to this view, the root cause of the Great Depression was a global over-investment in heavy industry capacity compared to wages and earnings from independent businesses, such as farms. The solution was the government must pump money into consumers' pockets. That is, it must redistribute purchasing power, maintain the industrial base, but re-inflate prices and wages to force as much of the inflationary increase in purchasing power into consumer spending. The economy was overbuilt, and new factories were not needed. The common view among economic historians is that the Great Depression ended with the advent of World War II.
List problems that stem from globalization related to economic development, labor issues, and the environment. Explain the origins and effects of labor migration, outsourcing, and offshoring. Describe possible approaches to dealing with the problems presented by globalization. Key Ideas Critics of globalization believe that it is harmful because it is driven by narrow economic interests. The benefits of globalization are unevenly distributed, and it causes hardship for poorer countries.
Satoria Mckenzy Principals of Economics (Ref # 380267) Spring 2013 The Full Economic Impact of an Increase in the Minimum Wage Where minimum began - The history of minimum wage, what is minimum wage, the laws of minimum wage. The minimum wage has a strong social appeal, rooted in concern about the ability of markets to provide income equity for the least able members of the work force. For some people, the obvious solution to this concern is to redefine the wage structure politically to achieve a socially preferable distribution of income. Thus, minimum wage laws have usually been judged against the criterion of reducing poverty. Statutory minimum wages were also proposed as a way to control the proliferation of manufacturing industries.
Likewise, the United States’ trade is becoming unprofitable as American goods are struggling to compete against cheaper foreign made goods. The shocking similarities between the Great Depression and today’s market foreshadow a darker future for the international