Economic Literacy
World War II assisted the United Stated to get out of one of its economic crisis. Three contributing reasons identified by Amott in the article The Postwar Economy Slows Down, discusses why the country was able to prosper. Dominance of the United States abroad, a time of peace among laborers, and a stable demand of services and goods by the government assisted the U.S. in maintaining a prosperous economy (1993, p. 26). When there was a change among the domestic and global economics, the Unites States was affected. After losing some of it’s world power due to Third World revolutions, the U.S. lost some of its access to cheap materials abroad. An increase in international competition began the end of the prosperity that came …show more content…
It encourages free trade, privatization of corporations, and the reduction of government intervention for social services and business. Ideally, once corporation or business prospers, economic growth with be passed down the everyday person (Martinez &Garcia, n.d.). There are pros and cons in regards to neoliberalism. George W. Bush talks about the positivity that is attained through free trade, free markets, and neoliberalism. The 2008 video clip of a live broadcast from Fox News, mentioned people will economically prosper. This economic incentive gives people the drive to want to help themselves. “The goal of our system should be to give all Americans the greatest opportunity possible to succeed based on their work and merit” (Brooks, 2010). This idea is awards people who are identified as …show more content…
Free trade increases jobs abroad, as well as lowers the costs for consumers. Lastly, businesses are working hard to progress. Technology such as “a steam boat, the computer, and the cat scan—the internet and the iPod” are all examples of how cutting edge practices emerge and develop (Bush, 2008). These all are positive attributes of neoliberalism. One negative associated with neoliberalism is how it makes people’s self-interest a higher priority than the good of the public or community. It creates blaming and places stigma on individuals that are struggling with obtaining the “economic incentive” from working hard. In neoliberalism, a person is only hard-working if they are able to prosper. For the individuals that struggle, hard working or not, labels and scrutiny is place upon them (Martinez & Garcia,
World War II assisted the United Stated to get out of one of its economic crisis. Three contributing reasons identified by Amott in the article The Postwar Economy Slows Down, discusses why the country was able to prosper. Dominance of the United States abroad, a time of peace among laborers, and a stable demand of services and goods by the government assisted the U.S. in maintaining a prosperous economy (1993, p. 26). When there was a change among the domestic and global economics, the Unites States was affected. After losing some of it’s world power due to Third World revolutions, the U.S. lost some of its access to cheap materials abroad. An increase in international competition began the end of the prosperity that came …show more content…
It encourages free trade, privatization of corporations, and the reduction of government intervention for social services and business. Ideally, once corporation or business prospers, economic growth with be passed down the everyday person (Martinez &Garcia, n.d.). There are pros and cons in regards to neoliberalism. George W. Bush talks about the positivity that is attained through free trade, free markets, and neoliberalism. The 2008 video clip of a live broadcast from Fox News, mentioned people will economically prosper. This economic incentive gives people the drive to want to help themselves. “The goal of our system should be to give all Americans the greatest opportunity possible to succeed based on their work and merit” (Brooks, 2010). This idea is awards people who are identified as …show more content…
Free trade increases jobs abroad, as well as lowers the costs for consumers. Lastly, businesses are working hard to progress. Technology such as “a steam boat, the computer, and the cat scan—the internet and the iPod” are all examples of how cutting edge practices emerge and develop (Bush, 2008). These all are positive attributes of neoliberalism. One negative associated with neoliberalism is how it makes people’s self-interest a higher priority than the good of the public or community. It creates blaming and places stigma on individuals that are struggling with obtaining the “economic incentive” from working hard. In neoliberalism, a person is only hard-working if they are able to prosper. For the individuals that struggle, hard working or not, labels and scrutiny is place upon them (Martinez & Garcia,