Government and the Economy Discussion Board

Government and the Economy Discussion Board

Context:

Government and politics lie at the intersection of society and the economy. To understand this relationship, political scientists often compare real-world economies to ideal types of purely capitalist or purely socialist systems. In reality, all economies are mixed, combining elements of both while leaning more in one direction.

At the core of this topic is a fundamental question: What is the proper role of government in the economy? Should markets be left largely alone, or should government step in to regulate, redistribute, and solve collective problems?

This assignment asks you to explore these tradeoffs and apply them to real-world issues.

Part 1: Economic Tradeoffs Capitalism vs. Socialism

Respond clearly and directly to the following:

• From the perspective of an ordinary person, what are the main advantages and disadvantages of living in a more capitalist system?
• What are the main advantages and disadvantages of living in a more socialist system?
• Where do you think the balance between these two systems should be, and why?
• What role should the government play in addressing the downsides of each system (think about collective action problems)?

Part 2: Applying Theory to Real-World Issues

Choose one of the following options and respond in a clear, focused way:

Option A: An Issue That Affects You

Choose a contemporary economic issue that directly impacts your life or your generation (for example: student debt, housing costs, wages, healthcare, or cost of living).

• Briefly describe the issue and why it matters to you.
• How does this issue reflect a tension between capitalism (market forces) and government intervention?
• What role is the government currently playing?
• Should that role be expanded, reduced, or changed? Why?

Option B: Artificial Intelligence and the Future of Work

Read or listen to the following article. As you do, focus on the idea of the intelligence curse and what it suggests about a future in which AI may replace or reduce the need for human workers.

• How might advances in AI change the role of human labor in the economy?
• From a capitalist perspective, is this a positive or negative development? Why?
• From a more government-centered (socialist or regulatory) perspective, what concerns arise?
• Should the government step in to regulate AI or protect workers? Why or why not?

Expectations (for both parts):

• Use specific course concepts (capitalism, socialism, incentives, collective action problems, etc.)
• Focus on explaining your reasoning, not just describing ideas
• Use examples where appropriate (real-world or hypothetical)
• Write clearly and concisely

Source Material:

• Ch. 4 Novel Approach to Politics
• Judt, Ch. 15 American Government Examined Reader
• Reich, Ch. 15 American Government Examined Reader
• Parenti, Ch. 15 American Government Examined Reader
• Bell, Why Is It So Hard for Democracy to Deal with Inequality The New York Times, 02/15/2018 that draws information from an interesting study by Thomas Piketty.
  • If you can’t access the New York Times article above because of their paywall, here is a another article that draws on the same Piketty study:
• Tanner, “Capitalism’s Triumph” The National Review.
• Are Baby Boomers Sociopaths?

Recommended length: 2-4 pages double spaced. I’ll be looking for direct references to as many of the assigned materials as possible.

Tips for Success:

– I will be looking for direct references to assigned readings (author and page # citations are adequate).
– Critical thought and clever examples will help your score.
– I recommend composing your content in an offline text editor and then copying and pasting in post. That way you will have an offline copy of all of your hard work!
– You are required to reply to two of your peers in this forum; reply first to those students who have not had a lot of replies. In your replies, provide some thoughtful feedback on their ideas. Don’t forget to complete this requirement of the activity or you will lose points.

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