Patterson Chapter 15

Patterson Chapter 15 - Patterson Chapter 15 Through regulation the US government imposes restraints on business activity that are designed to

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Patterson Chapter 15 Through regulation, the US government imposes restraints on business activity that are designed to promote economic efficiency and equity. This regulation is often the cause of political conflict, which is both ideological and group-centered. Through regulatory and conservation policies, the US government seeks to protect and preserve the environment from the effects of business firms and consumers. Through promotion, the US government helps private interests achieve their economic goals. Business in particular benefits from the government’s promotional efforts, which take place largely in the context of group politics. Through its taxing and spending decisions (fiscal policy), the US government seeks to maintain a level of economic supply and demand that will keep the economy prosperous. The condition of the economy is generally the leading issue in American electoral politics and has a major influence on each party’s success Through its money-supply decisions (monetary policy), the US government – through the Fed – seeks to maintain a level of inflation consistent with sustained, controllable economic growth. Public Policy Process- The political interactions that lead to the emergence and resolution of public policy issues. Policy problems stem from conditions of society—the employment rate, the quality of schools, the security of the nation, the safety of the streets, and so on… The Public Policy Process (Emergence of Issues) 1. Problem Recognition-- Stage in which conditions in society become seen as problems 2. Problem Transformation—Stage in which problems turn into political issues (Resolution of Issues) 3. Policy Formulation—Stage in which solutions to problems are devise 4. Policy Adoption—Stage in which a policy or program is adopted 5. Policy Implementation—Stage in which the adopted policy in put in place 6. Policy Evaluation—Stage in which the effectiveness of the policy is examined Economy- a system of production and consumption of goods and services that are allocated through exchange
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Laissez-faire Doctrine - private individuals and firms should be left alone to make their own production and distribution decisions. Regulation- Government restrictions on the economic practices of private firms Efficiency- Fulfillment of as many of society’s needs as possible at the cost of as few of its resources as possible. The greater the output for a given input, the more efficient the process. Representative Actions by Government-
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This note was uploaded on 12/13/2008 for the course POLI 100 taught by Professor Rabinowitz during the Fall '07 term at UNC.

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Patterson Chapter 15 - Patterson Chapter 15 Through regulation the US government imposes restraints on business activity that are designed to

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