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Essay / Research Paper Abstract
An 8 page paper discussing what government’s role should be in the national economy. The paper concludes that true laissez-faire is not workable, but neither is the heavy-handed regulatory environment in which business is able to operate with only part of its abilities put to use. The federal government walks a fine line between “enough” and “too much” government. It terms of the economy, it needs to err on the side of not doing enough, leaving the market to find its own level. Bibliography lists 4 sources.
Page Count:
8 pages (~225 words per page)
File: CC6_KSeconGovtRole.rtf
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Unformatted sample text from the term paper:
after day in the 1970s, the nightly news carried at least one clip of someone saying, "The President should do something!" The president was Richard Nixon, and the complaint
was about food prices, meat in particular. The true costs of the Vietnam war in the late 1960s were becoming known, and that and other factors were wreaking havoc
on the national economy. It was the position of John Maynard Keynes that government should take an active role in managing the nations
economy, that the progress of the economy should not only be left to the "invisible hand" described by Adam Smith. Keynes word "active" does not mean meddling, however.
It has been shown repeatedly that the most workable role for government in economic matters is that of guardian, one who steps in when necessary but otherwise leaves people -
and markets - largely to their own devices. The Business Cycle One quality that all of the worlds leading economies share is that
all have experienced trying times in the past several years. The post-9/11 recession in the US was one that had been long overdue, according to the laws of the
business cycle. This is the boom-and-bust cycle that economists occasionally try to pronounce dead, only for it to rise up again to prove those economists wrong. That was
the case in the US in 1969, when Paul Samuelson announced that the business cycle was no longer a valid economic model. By 1973, the entire world was in
deep recession in response to the world oil crisis. The same thing was occurring as late as early 2000, when America was enjoying
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