POLI SCI 104 : Economic Policy
30 Oct 2014
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Document Summary
Monetary policy is clearly important, but it is controlled by the independent federal reserve. This question is especially important given the recent economic bailouts. Textbook"s economic goals (substantive uses of economic policy) Maintaining public order and protecting private property. Maintaining a capitalist economy monetary policy, taxation, redistributive policy, spending, and the welfare state. Costs of unemployment (monetary, social, and economical) debate over bailing out the auto industry. Full employment act of 1945 would have established a federally guaranteed right to employment. It was defeated by the employment act of 1946. This law was largely symbolic, but it established the cea. Take into account people who don"t want to work. Must be the amount of people who are actively seeking work. Nairu the non-accelerating inflation rate of unemployment. When the rate of employment hits full point (90-95%), companies will raise wages so to steal workers from other companies. Colas cost of living adjustments; wages go up as inflation goes up.
