CAMPBELL POL 229 - Chapter 17- Domestic Policy (62 pages)

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Chapter 17- Domestic Policy



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Chapter 17- Domestic Policy

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Lecture Notes


Pages:
62
School:
Campbell University
Course:
Pol 229 - The National Government

Unformatted text preview:

Chapter 17 Domestic Policy 1 Outline the various economic theories proposed for managing the economy 2 Contrast fiscal policy and monetary policy and explain the key role of the Fed 3 Assess Government s ability to manage the economy in view of the Lucas critique 4 Discuss US distribution of income wealth and the role of supply side economics 5 Assess whether the US should pursue an industrial policy or remain a free market 6 Describe the basic concepts categories of how the Government regulates business 7 Describe the key government economic and social regulatory agencies their role 8 Assess the effectiveness and projected impact of current environmental policy 9 Describe the various concepts and categories of Social Welfare policy 10 Contrast social insurance w public assistance explain the role of means testing 11 Outline Social Welfare Policy and assess impact of the Social Security Act of 1935 12 Assess the current and future status of Social Security Welfare and Health 1 Policy Managing the Economy A Brief Historical Overview From Government Restraint to Government Intervention 1800 to early 1900s dominated by late 18th century economic theory Classical economics lassez faire An economic theory dominant at the start of the twentieth century that argued that the federal government s only role in the economy was to ensure a stable supply of money Theory applied to Hoover s balanced budget as solution to what major economic crisis 2 Managing the Economy A Brief Historical Overview 2 Start of the Great Depression 25 unemployment 1929 stock market crash Hoovervilles to protest lack of aggressive Federal action Public impatient with inability of Government to fix problem 1932 Presidential election landslide election of FDR First Hundred Days aggressive Federal action to fix New Deal programs Federal projects spending Objective spur economy to life get America back to work Examine FDR s economic policy to spur economy 3 FDR s Economic Policy Major economic events and



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