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Essay / Research Paper Abstract
A 4 page research paper that discusses the effect of government policies on the American economy. The writer argues that while many aspects of Keynesian economic theory are still applicable today, examining the effects of the global marketplace shows that this picture is rapidly changing, which means that Keynesian policies and tactics no longer work quite like they used to in past decades, and this limits the effect of government policy on the economy. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: D0_khgovep.rtf
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Unformatted sample text from the term paper:
Maynard Keynes in the 1930s (Mandel and Dunham, 2006). Keynes introduced the idea that government policy can affect a countrys economy and influence it by such tactics as "reducing interest
rates, cutting taxes and hiking government spending," which are policies that have been shown to lessen the effect of economic recession (Mandel and Dunham, 2006, p. 56). While many aspects
of Keynesian economic theory are still applicable today, examining the effects of the global marketplace shows that this picture is rapidly changing, which means that Keynesian policies and tactics no
longer work quite like they used to in past decades, and this limits the effect of government policy on the economy. At some point in 2007, experts anticipate that the
United States will hit an economic milestone, which will consist of the "cost of imported goods and services" exceeding that of federal revenues (Mandel and Dunham, 2006, p. 56). Su
(2005) agrees that, for over a decade, while the US has become increasing dependent on imported goods, the growth of American exports during this time has not kept pace with
that of imports. This fact is significant because it is expected that quite soon imports will exceed exports and this will signal the point at which global factors have greater
influence on the American economy, exceeding that of the federal government (Mandel and Dunham, 2006). Just a decade ago, the U.S. economy was, for the most part, self-contained, and tax-and-spending
decisions made by Washington established the course for economic growth, but this changed. Today, foreign backers provide 32 percent of U.S. domestic investment and the country is more "open
to the global economy then ever before" (Mandel and Dunham, 2006, p. 56). In order to restrain growth and "cool the housing market," the Federal Reserve has raised short-term interest
...