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Essay / Research Paper Abstract
A 3 page essay addressing the question of whether our Federal Reserve chairman is a supply-side economist or an Keyesian, whether he favors the tax cuts proposed by George W. Bush, whether he if for free trade or protectionism, laissez-faire or tight government regulation, economic growth or wealth redistribution. The question of how Greenspan views price stabilization and a return to the gold standard is also addressed. Bibliography lists
3 sources.
Page Count:
3 pages (~225 words per page)
File: AM2_PPgrnspn.rtf
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Unformatted sample text from the term paper:
Greenspan has become a household name, a name associated with sometimes inexplicable public trust, yet ferreting out an understanding of his inner political philosophies can be quite a difficult undertaking.
While the name Greenspan has become almost synonomous with the concept of "reserve", that latter half of the title of the Federal Reserve which he heads up, Greenspan is
also regarded as an unwavering proponent of economic expansion. Some, in fact, regard him as a messiah of economic expansion (Siegel, 2001). He is also considered a worthy
proponent for the recent tax cuts which have been so heavily embroiled in controversy. Greenspans primary purpose, however, is not to be embroiled in political tug-of-wars but rather to
insure stable economic growth (Edmonson, 2001). Greenspan approaches economics from a Keyesian perspective, opposing the supply side belief that any attempts
to influence economic health should be through the exertion of influence on the supply of labor and goods rather than through such macroeconomic concerns as the gross national product.
While the Republican tax cuts which are currently being bantered around are based on the premise that work incentive will be increased and the production of goods and services enhanced,
Greenspan contends that the first step in stimulating our economy should be to get the budget deficit under control (Edwards, 2003). While Greenspan concurs that long term a certain
good would come of such tax cuts, he doesnt consider them an immediate necessity (Edwards, 2003). He would just as actively oppose higher taxes in times of a balanced
budget, in fact, as he is currently opposing tax cuts in a time of an unbalanced budget. Greenspan suggests:
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