Relevant Economic Policies: Free Trade & Manufacturing
We have studied in chapter 12 why living standards around the world vary greatly across different countries and how economic policies adopted by nations can affect these living standards. Specifically differences in standards of living can be summarized by productivity and growth emanating from national policies. Assume that you are a U.S. fiscal or monetary policymaker and apply economic policy to the United States. Do this by citing and explaining at least one particular policy you would advocate fostering a sound GDP and economic growth. As an alternative to the United States you may use any other country. Your paper should be one to two full pages (250 to 400 words). As a note of caution, please remember, it is a principle of economics "There is NO free lunch". So, do consider that principle when selecting a policy.