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POL203Y1 (58)
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Lecture

public and social policy

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Department
Political Science
Course Code
POL203Y1
Professor
Ryan Hurl

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Public and Social Policy
March-31-11
6:13 PM
1.When people talk about governments getting to big, their not talking just about
personnel. In fact when you look at the number of federal government employees as a
percentage of the workforce, that number has been steady since 1967.
2.Government personnel has pretty much been the same as you count it as percentage
of rthe work force, there was a spike in the 60;s and 70's at the state level but not
federal level.
3.When people are talking about government there talking about how much
government spends. In terms of what the bureaucracy spends, if you take that as a
percentage of American GDP it has been stable since the late 80's because government
has spent more but GDP has risen as well.
4.There has been a growth since the 60's in government regulations. In government
interventions in economic activity. There are the current rate and thats been the case
for the last 10-15 years after a small dip. The current rate flucauates between 75,000
and 85,000 regulations.
5.Congress passes a law and the law states general objectives but leaves figuring out
the details to the executive. The thinking is that the bureaucrats are professional, they
have the expertise, their objective and they still have to do consultation.
6.Congress normally since WW2 have past laws that are general but leaves the
bureaucracy to fill in the details and those details are regulations.
7.Regulation is not the only way that the U.S government has to influence economic
activity. It is everything we do involving money, buying, selling, loaning, investing.. The
free market.
8.Government has 4 ways of influencing, intervening, regulating, economic activity
and the free market it does this for the budget, it does this through tax policy,
through the federal reserve and through regulations.
9. In general a successful and functioning market depends on and requires economic
activity because that generates more money in the system.
10.Money is the air that is needed to fill the free market tire. First of all the air
circulates within this tire and economic activity is that circulation. Potentially once the
tire has enough air to start it can fill itself with air. But if the money injected slows
down the air gets sucked out of the tire (market). The problem is when the free market
economy is left to its own devices it accelerates whatever is happening in it.
11.We can say it is great because we generate more and more money, but when
the free market hits its capacity of activity in it , it then accelerates till it booms. The
cycle is usually 10-15 years.
12.People pulling out of spending and investing also sucks more air out of the
market which then speeds up the slowing down of the system until there is no longer
any air in the free market tire. Thats the risk you have in recessions. During boom
times the risk is the economy getting to much activity and coming to a crash and
during recession is the slow economy bringing the market to a halt.
13.A successful free market economy requires external intervention. Regulation
of how much air there is in the tire and how much activity there is in it. That means
www.notesolution.com
sometimes the tire needs to have more air into it and other times that means the tire
needs to have air pumped out if it.
14. you also need a safety net to take care of the people who crash and lose much
of what they have when the boom ends and the tire explodes, someone to help them get
back on their feet and take care of them in the mean time, and has other economic
sense to it as well as compassion. You need the injection of new people and new ideas
with the injection of spending power. The question is who would do that?
15.The problem that government faces when it is the one that takes the role of
regulating how much air there is going to be in the tire is the fact that the government
itself gets its revenue from economic activity and tax revenues.
16.When you need government to intervene by putting money into the system or
providing a safety net to people who were hurt during the previous crash is also when
government is getting less from revenue. That is when government gets called on to cut
its spending and to cut its revenue because individual people feel the crunch too and
want to have more money for themselves. (keep this in mind when lookig at the 4
ways)
17.The budget- budget includes all government spending and gets passed every
year. Not every year because last years budget didnt get passed. It KINDA needs to be
passed every year. Congress is currently working on 2 budgets. The budget that
president Obama announced in Feb, the one that congress was supposed to working on
for this year 11/12. These budgets include all the government spending. This allows
government to intervene in the economy in 7 ways: spending decisions determine the
spending for different programs, agencies, they give these agencies money to spend on
different services. Government also invests in infrastructure, education, research,
things that the free market is not good at providing for even though it needs to continue
its economic activity .. Why? You need roads and safe air ways to pass goods from one
place to another, to ship materials to various factories. But having good roads is
something everyone benefits from regardless how much they invest in it. In the long
term you benefit from it but you dont see much short term gain but loss on the bottom
line. The more the loan term is the more risk there is and you also end up paying for it
but not the only person benefit from it and those who didnt invest still benefitted. The
free market isn't really good at providing for that because there is to much risk
involved. You need government spending on this. Government spending also puts
money into the system because government is a major contractor of several goods that
themselves are major contractors of other goods that are goods down the chain. Best
example is military spending. Airplane contracts and everything that goes into
manufacturing those airplanes, buying the materials, the building, the designing is
paid for down the chain. So spending decisions that are made as part of the budget
process are major ways that government pumps money into the system and when
government is cutting that money they take money out of that system. How is the
budget passed? Or supposed to be passed? Here is the process…
18.For a long long time before February 1st, all the different 15 departments in
governments as well as the various independent agencies make up their new budgets.
An agency is all ready working October, November late December of 2010 of the budget
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Description
Public and Social Policy March-31-11 6:13 PM 1. When people talk about governments getting to big, their not talking just about personnel. In fact when you look at the number of federal government employees as a percentage of the workforce, that number has been steady since 1967. 2. Government personnel has pretty much been the same as you count it as percentage of rthe work force, there was a spike in the 60;s and 70s at the state level but not federal level. 3. When people are talking about government there talking about how much government spends. In terms of what the bureaucracy spends, if you take that as a percentage of American GDP it has been stable since the late 80s because government has spent more but GDP has risen as well. 4. There has been a growth since the 60s in government regulations. In government interventions in economic activity. There are the current rate and thats been the case for the last 10-15 years after a small dip. The current rate flucauates between 75,000 and 85,000 regulations. 5. Congress passes a law and the law states general objectives but leaves figuring out the details to the executive. The thinking is that the bureaucrats are professional, they have the expertise, their objective and they still have to do consultation. 6. Congress normally since WW2 have past laws that are general but leaves the bureaucracy to fill in the details and those details are regulations. 7. Regulation is not the only way that the U.S government has to influence economic activity. It is everything we do involving money, buying, selling, loaning, investing.. The free market. 8. Government has 4 ways of influencing, intervening, regulating, economic activity and the free market it does this for the budget, it does this through tax policy, through the federal reserve and through regulations. 9. In general a successful and functioning market depends on and requires economic activity because that generates more money in the system. 10. Money is the air that is needed to fill the free market tire. First of all the air circulates within this tire and economic activity is that circulation. Potentially once the tire has enough air to start it can fill itself with air. But if the money injected slows down the air gets sucked out of the tire (market). The problem is when the free market economy is left to its own devices it accelerates whatever is happening in it. 11. We can say it is great because we generate more and more money, but when the free market hits its capacity of activity in it , it then accelerates till it booms. The cycle is usually 10-15 years. 12. People pulling out of spending and investing also sucks more air out of the market which then speeds up the slowing down of the system until there is no longer any air in the free market tire. Thats the risk you have in recessions. During boom times the risk is the economy getting to much activity and coming to a crash and during recession is the slow economy bringing the market to a halt. 13. A successful free market economy requires external intervention. Regulation of how much air there is in the tire and how much activity there is in it. That means www.notesolution.com
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