The Economy
Index of Articles
First, lets set the record straight. There has never been an economic system that didn’t have unequal distribution of wealth. In a free society under capitalism, there will always be unequal distribution of wealth. This is NOT unfair. Unequal distribution of wealth under capitalism is a much fairer way of distributing wealth, because it is not based on class or politics, rather achievement.
Just as there are no perfect people, there are no perfect economic systems. So the question is, what economic system can be made to work the best, and what would you want this system to do?
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We need a minimum wage law because there are too many people competing for low end jobs. But the issue now becomes, what should it be? The minimum wage law is a very limited weapon for combatting the evil of low wages. The higher the minimum wage goes, the larger the number of workers it attempts to cover, the more likely its harmful effects will outweigh its good effects.
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The foundations for the economic collapse of 2008 lies directly with President Bill Clinton. Clinton signed into law two key bills -- the Financial Services Modernization Act of 1999 and the Commodity Futures Modernization Act of 2000 -- that resulted in the near collapse of the US economy in 2008.
No one can deny that Unions were essential for the working man getting fair wages. However, the problem is unions don’t know when to stop. Over the past 40 years, Unions have put many companies out of business with outdated thinking, poor work standards, inefficient labor rules and the never ending demand for more pay and benefits. It’s one thing to get a fair wage. It’s quite another to demand a wage so high that you jeopardize the financial health of your company.
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Public employee Unions will bankrupt America's cities, states - and the taxpayer.
."The government solution to a problem is usually as bad as the problem. We have a system that increasingly taxes work and subsidizes nonwork."
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How can we determine if global trade is good or bad for the US? The balance of trade numbers determine if global trade is helpful or not to our economy. Ideally, trade is a win-win for all parties if exports and imports are roughly equal.
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Capitalism is an economic and social system in which private individuals and privately owned businesses produce all or most of the country’s wealth. Most economic decisions and the exchange of goods and services are voluntarily made through a network of markets. Private property is an essential principle of capitalism. Capitalism is based on competition and supply versus demand.
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Socialism is a broad economic theory where the government or collectives own or control all means of production, with the government deciding how to distribute the nation’s production to the people. Socialism is more than an economic system. It is, in practical application, a political system. The major difference between capitalism and socialism is who owns or controls business and personal property - the government or private individuals. The lure of socialism is its doctrine of fairness and equity. This belief has no basis in fact. The theory behind socialism is fatally flawed.
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COMMUNISM: freeing people from the burden of freedom. Communism only does 3 things really well:
• Commit mass murder against their own citizens.
• Insulate the ruling class form the masses.
• Spread poverty and terror equally among the masses.
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Everyone must realize that the ever increasing expense of Social Security is unsustainable. Every 5 years or so we have another crisis with Social Security funding. We don’t have any really good choices.
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STATISTICS:
