Ideology and Economic Policy
Susan Lewis
5 min read
Study Guide Overview
This study guide covers liberal, conservative, socialist, progressive, and centrist economic ideologies, focusing on their views on government intervention in the marketplace. It explains fiscal and monetary policy, including expansionary and contractionary approaches. Finally, it compares Keynesian and supply-side economics, highlighting their differing approaches to economic regulation and providing historical examples.
#AP US Government: Ideologies & Economic Policies - The Night Before Review 🚀
Hey! Let's get you prepped and confident for tomorrow's exam. We're going to break down ideologies and economic policies, making sure everything clicks. Let's do this!
#🏛️ Ideologies and Economic Policies: A Quick Overview
Understanding the different ideologies is crucial. They shape how people view the role of government in the economy. Here's a breakdown:
#🎯 Core Ideologies
- Liberal (Progressive) Economics:
- Favors more government regulation of the marketplace.
- Believes the market isn't always fair and needs intervention for equality.
- Supports policies like:
- Increasing minimum wage
- Strong labor protections
- Environmental regulations
- Increased spending on social programs (education, healthcare, infrastructure)
- Sees the government as a redistributive force, using taxes to reduce inequality.
Key Idea: Government intervention promotes fairness and economic opportunity.
- Conservative Economics:
- Favors little to no government regulation of the marketplace.
- Believes the market is the best resource allocator; government intervention causes inefficiency.
- Supports policies like:
- Reducing taxes an...
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