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Raise the federal minimum wage
The US government should raise the federal minimum wage.
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Explain
⌅
The Global Financial Crisis
The Global Financial Crisis☜Exploring the causes, consequences and responses to the global financial crisis. ☜F1CEB7
⌃
How should the US and other governments respond?
How should the US and other governments respond?☜Exploring policy options open to the US government and the other governments in response to the global financial crisis.☜FFB597
⌃
Measures to alleviate the immediate symptoms?
Measures to alleviate the immediate symptoms?☜What measures are available to alleviate the immediate symptoms of the financial crisis?☜FFB597
■
Raise the federal minimum wage
Raise the federal minimum wage☜The US government should raise the federal minimum wage.☜59C6EF
↳
Does not add a penny to the economy
Does not add a penny to the economy☜This is the broken windows fallacy. It would not add any money to the economy, it just takes money from one place and gives it to someone else. Money that would have been used to invest in new equipment or hire more staff is reallocated to increase pay. There is no economic benefit.☜EF597B
↳
Minimal benefit to the poor, if any
Minimal benefit to the poor, if any☜☜EF597B
↳
Would inhibit employment growth
Would inhibit employment growth☜Businesses are already under financial stress and would reduce employment if higher minimum wage was mandated.☜EF597B
⇤
Raise the federal minimum wage
Raise the federal minimum wage☜The Obama administration should raise the federal minimum wage.☜FFFACD
⇥
Raise the federal minimum wage
Raise the federal minimum wage☜The Obama administration should raise the federal minimum wage.☜FFFACD
□
Implement timely bans on short-selling
Implement timely bans on short-selling☜Governments should implement timely bans on short-selling.☜59C6EF
□
Apply effective measures learn from the Resolution Trust Corp
Apply effective measures learn from the Resolution Trust Corp☜The measures that proved most effective as part of the previous Resolution Trust Corporation experience, should be applied again in this case.☜59C6EF
□
Captial Injection in return for stock
Captial Injection in return for stock☜A capital injection in return for stock plan in which the government still gives the $700 billion to the banks but in return for becoming stockholders (owners) in the banks.☜59C6EF
□
Compile and communicate information on toxic free companies
Compile and communicate information on toxic free companies☜Compile and communicate information on companies not affected by the toxic assets.☜59C6EF
□
Cordinated, substantial, rapid global reduction in interest rates
Cordinated, substantial, rapid global reduction in interest rates☜Cordinated, substantial and rapid global reduction in interest rates.☜59C6EF
□
Ease repayment terms on existing mortgage holders
Ease repayment terms on existing mortgage holders☜Ease the repayment terms on existing mortgage holders, to reduce the flood of defaults and foreclosures that will otherwise occur.☜59C6EF
□
Encourage expansionary monetary and fiscal policy abroad
Encourage expansionary monetary and fiscal policy abroad☜Encourage expansionary monetary and fiscal policies abroad (most notably in cash-rich Asia), so that the decline in U.S. consumer spending is smoothly offset by a rise in spending in other countries.☜59C6EF
□
Need to be perceived to be in control of the crisis
Need to be perceived to be in control of the crisis☜Governments must give the impression that they are in control of, or on top of, the financial crisis—as the perception that the crisis is beyond their control is one of the self-fulfilling factors that spooked the markets and deepened the crisis.☜59C6EF
□
Prevent the collapse of working capital
Prevent the collapse of working capital☜The Government and Federal Reserve Board must prevent the collapse of working capital by supplying short-term loans and taking other measures to sustain the commercial paper market, interbank lending and the smooth functioning of money market funds.☜59C6EF
□
Protect individual depositors in regulated banks
Protect individual depositors in regulated banks☜Depositors in regulated banks should be protected by the governments that run the regulators.☜59C6EF
□
Quantify the problem
Quantify the problem☜A prerequisite for developing a strategy in response to the current financial crisis is to quantify the scale of the problem.☜59C6EF
□
Recreate the Resolution Trust Corporation
Recreate the Resolution Trust Corporation☜Recreate the Resolution Trust Corporation to help remove the toxic, bad financial paper from the markets (as in the Savings and Loans crisis).☜59C6EF
□
The Emergency Economic Stabilization Act 2008
The Emergency Economic Stabilization Act 2008☜A law authorizing the US Secretary of the Treasury to spend up to US$700 billion to purchase distressed assets, especially mortgage-backed securities, from the nations banks—enacated on 3rd October 2008.☜59C6EF
□
Graph of this discussion
Graph of this discussion☜Click this to see the whole debate, excluding comments, in graphical form☜dcdcdc
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Entry date (GMT):
11/27/2008 7:13:00 AM
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11/30/2008 4:54:00 PM
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