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GOVT 200 Liberty University Government Budgetary Process Economics Analysis

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GOVT 200 ECONOMICS ANALYSIS ASSIGNMENT INSTRUCTIONS OVERVIEW For this assignment, you will write a 2–3-page paper (double-spaced, 1-inch margins) providing at least 1 example of how government has overstepped biblical principles in some form of economic policy. Be sure to adhere to the format specified in the Course Style Guidelines document. Options include the following topics: • A specific piece of legislation relating to business regulation or taxation. • The “party platform” of either the Republican Party or the Democratic Party (or both). • The role of the Federal Reserve. • The budget process. In discussing one of these topics, incorporate clear references from the Learn material in the assigned Module: Week. INSTRUCTIONS Follow the below instructions to compose your assignment: • Length of assignment – 2-3 pages. • Make sure to include a bibliography page • Format of assignment – Course Style Guidelines • At least 2 sources • Acceptable sources – Scholarly articles published within the last five years, the Bible, online articles given as assignments, and any other pertinent source that helps the student answer the assignment prompt. Note: You may submit your assignment to the Economics Analysis: Draft Submission Assignment to check your paper for plagiarism. Your assignment will be checked for originality via the Turnitin plagiarism tool. After reviewing your Turnitin results, make any edits necessary and submit your Economics Analysis: Final Submission Assignment. The Current State of Economic Regulation Welcome back class. I hope you’re enjoying the course so far we’ve got another great week for you. As our 40th president, Ronald Reagan said, as government expands liberty contracts. And that’s really what we’re going to be discussing this week, is every time the federal government, state government and the local government enacts a new policy and x and new regulation interferes with the free market at some point. Does that allow freedom to expand or does it cause it to contract? So again, that’s what we’re going to be discussing this week and we’re going to learn, are there times when government should get involved? I’m sure you can think of times where it was necessary for government to make sure that its presence was felt. Think of what areas in monopolies. For years and years, our government has sought to protect the free market, the free enterprise from monopolistic tendencies that so one company cannot corner the market. Because what happens once a company cornered the market? They raise prices to whatever they want to. There’s no competition to make them better. There’s no innovation, there’s no Really ability or chance for them to get better and improve because nobody’s pushing them to do so. And so that’s one I would think legitimate area, we would all agree with that to make sure that there’s no monopolies in our free enterprise system. Sometimes government has to step in. Where is another place that government interferes? Well, I would say our military. Lot of people say, well, I can defend myself. The Second Amendment gives me the right to keep and bear arms and protect myself. Yes, that’s true. However, on a state level, on a national level, we need protection. So our military comes in and protects all of us. That’s not something really one individual person, a really small group of people can do. So a lot of times we say, well, the government shouldn’t have this or have that. But in a military sense, we can’t think of anybody better to fulfill that role or to come in. So there’s some legitimate forms of government. There’s some legitimate areas where government needs to get involved. And again, that’s why we go back to the concept of limited government. Our founding fathers said we needed to have a limited government. Not that it needs to be small enough, that it needs to be weak. But in the areas where there’s actual jurisdiction works in its sphere of sovereignty,
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