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The paper discusses how the United States is engaged in a free market economy that maintains the economic class divisions that were evident in the initial conception of representative democracy. The paper addresses the global financial crisis and how it may be traced to the failure of free markets to protect individual liberties, enabling exploitive practices by those in the upper echelons of the economic hierarchy. The paper emphasizes how just as in the past, the financial crisis has invariably impacted the fortunes of everyday Americans.
From the Paper:"According to the text by Hacker (2006), there is an ever-diminishing concreteness and stability underlying the American economy with the outcome being a context of sheer risk for those without the means or intent to undertake such. Therefore, the research will intend to also address new and evolving issues relating to the subsistence of the middle and poor classes under the terms of economic recovery.
"The bailout packages produced by the Obama Administration, though widely criticized by the presidents political opponents, illustrate an understanding that it has not been the spending liberties of the federal government by the misdirection of resource which has allowed so drastic a collapse. Thus, Moseley (2009) would report that the "Obama administration and Democrats in Congress are working on a second, much larger stimulus package of about $850 billion, which will consist of two-thirds increased spending (with emphasis on aid to states, education, unemployment benefits, and public works infrastructure projects and one-third tax cuts (mainly on payroll taxes). This second stimulus package will be somewhat more effective than the first, mainly because it is so much bigger, and also because more of the total money is for increased spending rather than lower taxes." (Moseley, 1)"
Sample of Sources Used:
- Hacker, J. (2006). The Great Risk Shift. Oxford University Press.
- Moseley, F. (2009). The U.S. Economic Crisis: Causes and Solutions. International Socialist Review, 64. Online at http://www.isreview.org/issues/64/feat-moseley.shtml
- Rossiter, Clinton. (1961). The Federalist Papers. Signet Classics.
- Smith, Adam. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. London: Methuen and Co., Ltd.
- Storing, Herbert J. (1985). The Anti-Federalist. The University of Chicago Press.
Cite this Persuasive Essay:
Free Market Capitalism, Individual Liberties and the Bailout (2012, June 11) Retrieved January 24, 2021, from https://www.academon.com/persuasive-essay/free-market-capitalism-individual-liberties-and-the-bailout-151473/
"Free Market Capitalism, Individual Liberties and the Bailout" 11 June 2012. Web. 24 January. 2021. <https://www.academon.com/persuasive-essay/free-market-capitalism-individual-liberties-and-the-bailout-151473/>