America´s Neoliberal Capitalism and the Economic Expansion
explanatory Essay
2238 words
America's neoliberal capitalism and the economic expansion
After the crisis of government regulation capitalism about six years from 1973 to1979, a new layout liberal capitalism started to appear; firstly it was in Britain and the United States. In America, the new liberal capitalism was of main features in following:
(1) Cancel the regulation of finance and business not only in domestic but also internationally, allowing the "free market" rule, and realizing capital to flow freely.
(2) Privatize government’ services directly provide the government agencies and government workers in the past.
(3) The government is no longer actively control of macro economy, and to a certain extent, reduce the macroscopic intervention with the purpose to ensure low inflation, rather than low unemployment.
(4) Significantly reduce government social spending.
(5) Reduce the tax for businesses and the rich.
(6) Big business and government denounce the unions, which makes capital can completely dominate labor in the labor market.
(7) The labor force employment changes from depending on long-term employee to the use of short-term and workers who work at their part time increasingly.
(8) Untrammeled competition takes place of regulated capitalism “mutual respect" in the postwar era of the big companies.
(9) Market principle is introduced to big enterprise internal. Choosing the CEO from the enterprise’ employees are changed to hire from an external CEO employment market.
Over time, three important changes occur in the above-mentioned system; they together promote many economic expansions of long-term, but at the same time also lay the potential for the final a systemic crisis. The three important changes are: 1) increasing inequality. In the ...
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...gage crisis is the fuse of the global financial crisis while the subprime mortgage crisis is the inevitable result of the financial deregulation in the United States. There are indications that what we see is not merely a crucial economic crisis and a critical decline. We are watching the new liberalism crisis. This form of capitalism to promote the production and the profit seems to reach an end. In the existing neoliberal capitalism mode, the next economic expansion will take an even more massive asset bubble than the real estate bubble, which is hard to imagine. In addition, financial system deregulated in the new free capitalism might play a quite important role in new asset bubbles of any kind, but after the new bubble burst, it can't continue to exist. The majority of the bid American financial institutions require massive government rescue, and the financial
In this essay, the author
- Explains that neoliberalism was proposed in the late 70s and early 80s of last century under the background of economic globalization.
- Explains that after the crisis of government regulation capitalism about six years from 1973 to 1979, a new layout liberal capitalism started to appear in britain and the united states.
- Explains how capitalism promotes economic expansions of long-term, but also lay the potential for the final a systemic crisis.
- Explains that in the process of the american new liberal capitalism, a series of long-term expansion led to unsustainable trend.
- Explains that america's economy and the world economy will be reconstructed in the future. the third possibility is to realize socialism.
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- Explains that the robber barons of the late 19th century proved that greed can overtake morals if the conditions are right.
- Explains that the robber barons had no qualms about ruining the lives of the people that worked for them and of society in general. the working class will never collapse, however, because the upper class needs them.
460 wordsRead More - Contrasting Friedman and Lindblom on Economic Systemsanalytical essay...here people abided by acceptable and fair practices in the market, these actions and oversight would not be necessary to ensure that we continue to live in a true democracy with political equality. Milton Friedman would have his pure market economy devoid of any government intervention while Lindblom’s concerns that the policy process will be endlessly trapped by arguments about the market would be eased. Democracy would truly mean political equality and allow all those that wished to participate to do so with all the information they require.
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- Analyzes how the market has trapped our political system in a never-ending cycle that has no solution but remains salient. as the ideological spectrum splits on the issue, it gets trapped in the policy cycle.
- Analyzes lindblom's argument that the market entraps government because it fears the fallout of poor market function and the unemployment that it would create.
- Explains that government's exercise of authority is curbed and shaped by the concern of government officials for its possible adverse effects of business.
- Explains that business enjoys a certain "privileged position" and is widely accepted by the american public. however, people begin to see that businesses are running away with their freedoms and leaving society in the dust.
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In this essay, the author
- Explains that americans don't realize the corruption that surrounds them in their nation. capitalism is an economic and political system in which the country's trade and industry is controlled by private owners for profit rather than by the state.
- Explains that the meat packing industry in the united states is one of the top industries that bring corruption to new heights.
- Analyzes how the meat industry treats its workers the same way they treat the animals. slaughterhouses kill thousands of hogs a day, and pack thousands chickens tightly together like jail cells.
- Explains that the top meat packers in the country controlled only 25% of the market during the 1970s. today that percentage has increased to a large 80%.
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- Explains that oil & gas companies of the u.s. are subject to risk, especially when compared to other industries.
- Opines that people face corruption in their day-to-day lives without even realizing it. dr. otis brawley printed out that the costs of health care are up by 18%.
- Analyzes how dr. brawley used this quote to describe the irony of the way the united states treats its people. politicians should be thinking of rational use of medicine rather than rationing the medicine itself.
- Explains that the u.s. economy has been doing horribly since its last stock market peak in 2007. wall street headlines will drown in money from the federal reserve, rather than real economic gains.
- Explains that americans have come to the "resolution" of borrowing money to pay off debt, which leads to an end stage crisis and corrupt capitalism.
- Explains that the united states has a corrupt system of money hungry companies that care very little to not at all about the american people and what they provide them.
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In this essay, the author
- Analyzes how the united states has invaded, embargoed and bombing sovereign nations at the cost of several million people under the guise of capitalism and free trade.
- Explains that since the collapse of the iron curtain and the defeat of communism, foremost economists and financial specialists from the united states have been advising the leaders of eastern europe on the foundations of a free-enterprise system.
- Opines that the united states will not lift its embargo from cuba unless castro ditches his socialist "experiment" and hops on the capitalist bandwagon.
- Analyzes how a hypothetical time magazine or cnn news poll posed the question: do you think our capitalist system should become more socialist?
- Describes how a catastrophic earthquake rocked los angeles in 1994. stores raised prices like any normal, heartless, savage capitalist would do.
- Opines that even in congress, the members do not fully trust the workings of the capitalist system. judges regularly hand down lighter sentences if the defendant did not actually profit from his crime monetarily.
- Argues that america lacks appreciation for its supposedly cherished ideal of greater "choice." people moan about junk mail filling their mailboxes and e-mail, having their senses pursued, and complaining about the arrival in their neighborhood of the bully national chain.
- Opines that greed and selfishness form the official and ideological basis of our system.
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