POSI - Political Science POSI 2320 Study Guide - Midterm Guide: Federal Deposit Insurance Corporation, Tennessee Valley Authority, Social Security Administration
23 Aug 2019
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The evolution of federal bureaucracy from the george washington to today. Federal employment (pendleton act 1883, hatch act 1939, taft-hartley act 1947, air traffic controllers. Taft-harley act was passed) and president reagan fired them. National performance review 1993: reinventing government, reinventing teams, reducing red tape, putting customers first, empowering administrators, eliminating wasteful spending. Economy system of production and consumption of goods and services that are allocated though exchange. Laissez-faire economics private firms should be free to make their own production decisions. Economic policy (regulation, promotion, fiscal, and monetary policy: regulation government restrictions on the economic practices of private firms. Free-market economy and regulation (why should the government regulate the economy?) Interstate commerce commission (icc) responsible for regulating railroad practices. 2008 financial crisis: moral hazard one person makes the decision about how much risk to take, while someone else bears the cost if things go badly, ex. Banks take the risk, and the taxpayers bore the cost.
