Whereas for many the economy is seen as fundamental to all other challenges facing society (e.g. the 1992 Clinton campaign’s internal mantra, “It is the economy, stupid”), to many others there is little appreciation or understanding of the economy - outside of the provision of jobs and cost of living.
Politicians from both parties are eager to make campaign promises designed to convince voters their policies will improve the performance of the economy. On the left, arguments tend to be made that increased government investments in education, training, infrastructure, and green energy will improve the economy. On the right, arguments tend to be made that reductions in spending, taxation, and regulation will improve the economy.
QUESTIONS TO PLAY WITH:
- The word “economy” comes from the Greek “running of the household”. How might this more intimate or familial view of what “the economy” is all about enrich our thinking about what our economy should look like or function?
- What, in your opinion, is the purpose of the economy? What is the economy for? Who is the economy for?