A Window into Policy

Paper Summary:

This essay discusses the effects on policy that major news developments may indicate if interpreted correctly. In particular, the effects on policy that the decline in the value of the dollar vis-a-vis the world's other major currencies and how this decline is being manipulated by all relevant parties, is examined. Also, the failure of the FDA to properly monitor the pharmaceutical industry, and the failure of pharmaceutical companies to properly monitor themselves, is examined relative to the greater effect on public health and the overall economy as drug prices increase, is considered.

From the Paper:

"An article in the New York Times from November, 2004, highlighted the importance of economic policy and how national economic policy affects both U.S. economic health and the global economy. The dollar has been weakening recently relative to other G-7 currencies and this has been causing some degree of consternation to the U.S.'s major trading partners. Fuerbringer mentions in his article that "Only the Japanese are expected to intervene to slow the yen's climb in value and the dollar's fall in an effort to protect the country's export business" (par.2), as a way to point out the effect a weak dollar can have on other countries' economies. Some suspect President Bush and his advisers have chosen to allow the dollar to decline in value as a competitive response to the U.S.'s growing trade deficits."

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