E CONOMIC G OALS What are they for our country? What are they for you?

Your Philosophy of Government Involvement in the Market We’re now going to shift gears a bit, and head more into larger economic concepts, generally including more potential government involvement. As we do this, be thinking about your own philosophy of the “free market”. How “free” do you really want the market to be?

LEARNING TARGETS You’ll identify 5 distinct goals people have for their government, and/or government has for itself. You’ll make personal judgments on how important these goals are to you.

Economic Freedom Consumers get to decide how to spend/save their income, ability to change jobs, and able to open/close businesses. What is the level of government involvement in this goal? What do you think of this goal?

Economic Efficiency Efficient allocation of resources. Resources go to where they can be used most productively. What is the level of government involvement in this goal? What do you think of this goal?

Economic Equity Doing what is “fair” Often revolves around the distribution of income and wealth. Assumes not everyone has had the same economic “starting line”. Bernie Sanders and the “Top 1%” Affirmative Action.

AFFIRMATIVE ACTION A government program started in the 1970’s, it gave preferential treatment to groups that had been previously discriminated against in hiring and college admissions.

AFFIRMATIVE ACTION This was done to increase diversity in colleges and in the workforce, and to attempt to make up for past discrimination. It meant that some white people with good qualifications may have been excluded from college or work.

ECONOMIC EQUITY What is the level of government involvement in this goal? What do you think of this goal? Do you think we still need Affirmative Action in 2016? Is there still a need for diversity in our colleges and workplaces? Do we still need to make up for past discrimination?

Economic Security Protect workers against risk such as injuries, unemployment, inflation, and business failures. Many government programs aimed at easing this. What is the level of government involvement in this goal? What do you think of this goal?

Economic Growth and Employment The increase of goods and services over time (3-4% usually seen as reasonable) Maximum number of jobs for all. What is the level of government involvement in this goal? What do you think of this goal?

Economic Goals: -Freedom -Efficiency -Equity -Security -Growth & Employment

Your Ranking 1-5, (1 being the best, may not be reused) Your Grade A-F (may be reused) Freedom - Consumers get to decide how to spend/save their income, ability to change jobs, and able to open/close businesses Efficiency - Efficient allocation of resources Equity - Doing what is “fair” Security - Protect workers against risk such as injuries, unemployment, inflation, and business failures. Growth & Employment - The increase of goods and services over time as well the ability to gain employment

YOUR CONCLUSION WITH YOUR PARTNER, AND THEN AS A LARGE GROUP, DISCUSS THE FOLLOWING QUESTIONS: Which of these goals seem to be farthest apart from each other? Why? In the recent Presidential election, which candidate and party seemed to support which goals?