This preview shows page 1. Sign up to view the full content.
Unformatted text preview: by a later administration. The benefits of economic development always outweigh the costs in a free market, capitalistic economy. Due to competition, businesses are always coming up with new, better and cheaper ways of doing things. This allows them to make more money and to pay their workers more money. So although there are always costs of doing business, there are also always profits to be made by the most competitive businesses. So in a capitalistic society, the standard of living always goes up. In addition, the quality of life goes up along with it. I think if we want to reduce the budget deficit we need to reduce government spending or increase taxes. We probably need to both. Source; www.brookings.edu/views/papers/orszag/20040105.htm www.economist.com...
View Full Document
- Spring '09