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Public Policy, Policy Cycle, and Policy Theories SS238 - Unit 4 Assignment: Public Policy, Policy Cycle, and Policy Theories Kendra Holbrook Purdue Global University Professor Chris Powers June 5, 2021
Public Policy, Policy Cycle, and Policy Theories 2 Thesis Among all the given fields, the chosen one with which two policy examples will be analyzed is economics. Economics is a branch of social science, that is majorly concerned with the fair allocation of scarce resources across the alternative ends of the society. It mainly studies the production, distribution and consumption of goods and services. This field is chosen over other fields, because the goals that the field eyes to achieve are very much in line with the interests of public welfare. The widely accepted goals of economics are, 1. Achieving economic growth by increasing incomes of consumers and firms over time. 2. Achieving a state of full employment. 3. Attaining price stability. Outline Examples of two public policies in economics that will be analyzed are, 1. Make the tax code more progressive 2. Increase the minimum wage rate Considering the 1 st policy, In addition, a proportional tax system places a level higher on the wealthy side than on the poor based side on the income or property of the individual. A strategy of this type is pursued to enable households with low wages to pay for basic items such as housing,
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