Neoliberalism

Beschreibung

1000 Intro to Public Affairs and Policy Management (Neoliberalism) Mindmap am Neoliberalism, erstellt von Megan Clermont am 09/04/2016.
Megan Clermont
Mindmap von Megan Clermont, aktualisiert more than 1 year ago
Megan Clermont
Erstellt von Megan Clermont vor mehr als 8 Jahre
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Zusammenfassung der Ressource

Neoliberalism
  1. Milton Friedman
    1. monetarism
      1. long run trade off between inflation and unemployment
        1. inflation redistributes wealth, modifies value of lent or borrowed money, market less responsive
        2. increasing money supply will not help unemployment
          1. spending increases
            1. prices increase
              1. inflation eats up expansion
                1. more jobs
                  1. lower real wages
              2. monetary growth should be static
                1. monetary policy may overact as expectations lag behind
              3. spending based on permanent income
              4. George Stigler
                1. regulatory capture
                  1. tie between government and corporations
                    1. can't effectively regulate
                      1. may implement policies beneficial to corporations
                      2. better to have no regulation
                    2. Arthur Laffer
                      1. too high of tax rates distorts incentives to work, takes large amount of wage
                        1. too low of taxes, government doesn't have enough revenue
                          1. point of optimal taxation, the Laffer curve
                          2. Supply Side Economics
                            1. cut taxes of rich
                              1. rich will invest
                                1. jobs will be created
                                  1. nation will increase competitiveness
                                  2. research and development will increase productivity
                                    1. marginal value of each worker will increase
                                      1. wages will increase
                                        1. tax revenue will rise
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