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Essay / Research Paper Abstract
A 7 page paper arguing against government bailout as a business alternative to bankruptcy. The paper discusses the auto industry and lessons from the rash of bankruptcies in the airline industry following 9/11. When the topic is bailout, the government needs to limit any involvement to effective guarantees that fill gaps in the interest of the people but otherwise essentially "butt out" and let market forces operate. Market forces are immensely more efficient than the federal government; it appears today that they are wiser as well. Bibliography lists 5 sources.
Page Count:
7 pages (~225 words per page)
File: CC6_KSeconBailNo.rtf
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Unformatted sample text from the term paper:
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 economist 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 the longest
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