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Essay / Research Paper Abstract
This 5 page paper changes the premises of an article chosen from the Economist and argues the antithesis. Argument focuses on macroeconomic theory primarily involving taxation of corporations and the validity of trickle down economics. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: D0_Trickle.doc
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Unformatted sample text from the term paper:
article, a 1997 piece was selected from the Economist entitled "Big government will come to terms with the global economy Still in command." The argument as it appears in
the selected article makes the assumption that even though the economy is doing well there is little mobility and even in the free world people tend not to take advantage
of opportunities in other geographic locations. A major part of the argument is that both labor and capital are tied down and remain fairly consistent over time. People tend to
stay in their comfortable niches rather than make moves. The reason given is that in general, "people are anchored down by culture, family and neighbourhood" ("Big government", 1997, p.PG). Another
primary position contained in the piece is quite old. It assumes that governments put the heavier taxation burden on the less wealthy and gives corporations a break because that is
the easiest thing to do. Examples are provided where corporate tax rates have come down significantly across advanced industrial nations in particular. The article goes on to talk about the
importance of macroeconomic policy in terms of its role in the global economy. It supports an open economy where governments can borrow more freely without raising interest rates and impinging
on private investment turf. Another benefit it supports is that with floating exchange rates, for example, monetary policy works better because "the demand-expanding effects of lower interest rates are boosted
by the demand-expanding effects of a depreciating currency" ("Big government", 1997, p. PG). It does admit that if government pushes borrowing too far, international markets can insist on higher interest
rates but sees a closed economy as detrimental, something that would surely result in higher inflation. The article looks to the future as well, and projects a more integrated global
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