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Question 5
1. Define Plutocrat
Plutocrat is" representative of the wealthiest elite of the ruling class, possessing influence and power thanks to its wealth. Hanauer has been called "America's premier self-loathing plutocrat," a description he relishes, though he is not embarrassed by his wealth. (Ball1)
2. Give three reasons we should or three reasons we should not raise the minimum wage?
We should raise the minimum wages because;
It will allow people to be empowered
It will raise the standard of life and people will spend more on products so the demand will increase. If demand increases, it will enforce productivity.
It will allow us to lower down the gap between the middle and upper class.
6. Do you agree with Mark Cuban and why?
I agree with Cuban because he revealed the bitter realities related to employee and employers. He is right by saying that every year companies spend thousands of dollars in placing ads, hiring new employees just in search of best employees. Thus the sample rule applies to employees as well. It is essential to understand that with a frequent change of work, for whatever reason, a person develops a specific model of behavior. And it is no longer a search for oneself or the formation of a false portrait, the inability to adapt and other prerequisites become the causes of a frequent change of work. Still, a formed habit is a behavior model. A person gets used to close his needs due to a constant change of work: for someone, it is a need for new emotions, for someone it is a need to start all over again, etc. Changing such a model yourself will be quite difficult.
7. David Stockman and the Debt Crisis. Should we be afraid and why?
They have almost no room left for maneuver. Some say that the Fed may divert the rate to negative values. But this is impossible to do in the USA. If they try to lower the rate to negative values - and finally finish off all the few remaining accumulative and pension funds in America - people will come to Washington with forks and torches. So this will not happen. Stockman says that we received a massive increase in the number of Treasuries on the Fed's balance sheet - which grew from 850 billion at the start of the crisis to 4.5 trillion at its peak. You need to understand what this race is about - to reduce profitability. In a decline in yields of the 90 trillion global debt bond market.
Question 8.
1. What three reasons do you agree with?
American does have fewer babies because they do not want to compromise over their freedom and leisure time. It is true because couple want freedom and due to extra child responsibilities and especially for woman forces them to think about fewer children
Financial problems also allow people to have fewer babies because economic resources are limited, and there are no such resources available to raise the child. Due to fewer jobs and low wages, people avoid the child.
Young girls who want to go to college or pursue college education go for less child option. Because it is not easy for them to manage children and school at the same time.
2. Given the information, should we open up our borders to immigrants to help grow the labor force given the low birth rate? Why or why not?
No open up border can't be a solution to help grow labor force because with opening borders new crisis will also start like job shortage, the burden on economy, racism and discrimination.
Works cited
Ball, Molly. “A Venture Capitalist's Case for Raising the Minimum Wage.” The Atlantic,
Atlantic Media Company, 28 Dec. 2015, https://www.theatlantic.com/magazine/archive/2016/01/a-plutocrats-case-for-raising-the-minimum-wage/419130/.
Limitone, Julia. “David Stockman: Trump Will Create a Debt Crisis Like Never Before.” Fox
Business, Fox Business, 12 Feb. 2018, https://www.foxbusiness.com/politics/david-stockman-trump-will-create-a-debt-crisis-like-never-before.
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