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Department
Political Science
Course
CAS PO 111
Professor
Graham Wilson
Semester
Fall

Description
Review Economy • keynes- fiscal policy o taxation and government spending o cutting taxes is not as efficient as government spending because when people get their taxes cut they get more income but they don’t spend it o in a recession you don’t want an increase in taxes, you have to borrow the money in the short term and you use that money o easier to start than stop • monetarists- monetary policy o adjusting the nation’s money supply/interest rate o ability to borrow  consumers can borrow (credit cards)  business can finance capital expansions more cheaply if interest rate is lower  so lower interest rate o selling/buying of bonds, overnight borrowing rates  if there’s less money interest rates go up  price of bond inversely related to interest rate • high interest rate is bad for the economy, they should be buying bonds Single-Payer System • insurance in general: you get a group of people who all pay in and then when something bad happens you get money • one pot for both healthy and sick people- healthy have to pay in more to cover sick people o healthy subsidize the ill, can no longer forcibly exclude high risk people o same amount of care • a game of exclusion- single payer system gets rid of that • upside is that sick people can actually get care • essentially a government run program • OBAMACARE IS NOT A SINGLE PAYER SYSTEM Policies can effect politics and vice
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