Response to the two following questions below to reflect on the…

andreana68 Response to the two following questions below to reflect on the…Response to the two following questions below to reflect on the right balance of government intervention (regulations) in the economy. Each answer should be between one hundred and one hundred fifty words.  TO DO LIST BEFORE RESPONSE: Read the summary notes  of Goldsmith’s book about the policy process in the United States.Read Hacker, J.S. & Pierson. Making America Great Again. The case for the mixed economy.Read the McKinsey report on nudging.Remember that the response need to reflect that above materials and be written in the Rogerian style. Resources with jpg down on the bottom. Questions How willing are you to accept “Nudging” from your government as a way to advance social goals?Consider the arguments offered by the TWO videos below on the minimum wage. Then respond to the following question: Should the US consider pegging increases of the minimum wage to inflation?Resources: Minimum wage videos What the US gets wrong about minimum wagehttps://www.youtube.com/watch?v=_M3vTvm2cfM&t=2sMilton Friedman on Minimum Wagehttps://www.youtube.com/watch?v=ca8Z__o52sk1. Image transcription textSummary for classnotes Dorado Chapter 8: Political institutions:How the policy process is organized1 Sophisticated businessleaders know policy-making is a decentralized activity…. Show more… Show moreImage transcription textSummary for classnotes Dorado It is prone to “gridlock” inWashington and in many state capitals and city halls. Note thatMadison and his colleagues intended the checks and b… Show more… Show moreImage transcription textSummary for classnotes Dorado The House of Representatives isled by a Speaker of the House who represents the majority party.The top two Senate Leadership positions are largely ce… Show more… Show moreImage transcription textSummary for classnotes Dorado There are about 60 autonomousfederal agencies, comparable in size and power to departmentbureaus. Some, like the Environmental Protection Age… Show more… Show moreImage transcription textSummary for classnotes Dorado Their purpose in the politicalsystem is to settle controversies by applying established rules.The judiciary branch is often the last resort of interest … Show more… Show moreImage transcription textSummary for classnotes Dorado Potentially, catchall parties cancompensate for the fragmentation and standoff built into the USpolitical system. The Republicans, for instance, have w… Show more… Show more2. Image transcription textMaking America Great Again The Case for the Mixed Economyjacob S. Hacker and Paul Pierson t a debate among the Republicanpresidential candidates in March, US. Senator Ted Cru… Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson 70 the Internal Revenue Service,there would be nobody left to see that taxes were collected,which would pose something of a problem for the func… Show more… Show moreImage transcription textMaking America Great Again WHAT ADAM SMITHUNDERSTOOD Like other advanced democratic nations, theUnited States has what economists call a “mixed econ… Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson That markets fall short undercertain conditions has been known for centuries. In theeighteenth century, Adam Smith wrote enthusi— astic… Show more… Show moreImage transcription textMaking America Great Again private sector completely free ofgovernment in?uence is just as myth— ical (and undesirable) as agovernment completely free of private— sector in?ue… Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson 74 of time, and the line would bemostly ?at for thousands of years. Even the emergence ofcapitalism, momentous as it was, was not synony— mo… Show more… Show moreImage transcription textSHDVWI ALLHO / HHOOW NHOf Making America Great AgainShoe] ready: a feerally funded road project in Colorado, May 209In nations where the mixed economy took hold, the ec… Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson are pretty much ?xed costs, or atleast costs that vary with country and population size far morethan economic heft, so one might expect that as the ec… Show more… Show moreImage transcription textMaking America Great Again THE LOGIC OF GOVERNMENTINTERVENTION Why does it take a lot of government to get andkeep prosperity? Because government has unique cap… Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson 78 human potential (andsquandered economic production) if children are not given aquality education. Even the spiral of underconsumptio… Show more… Show moreImage transcription textMaking America Great Again FROM THE FOUNDERS TO THEPROGRESSIVES The emergence of modern economies capable ofgenerating un— precedented a?luence has coincided … Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson they were also just plain lucky.They came along when national markets were ?nally possible,they bene?ted from public land grants and loan guara… Show more… Show moreImage transcription textMaking America Great Again and Drug Act of 1906, which laid thefoundation for the US. Food and Drug Administration. YetRoosevelt died in 1919, on the eve of another decade … Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson Before the twentieth century,income taxes had barely existed in the United States, and beforeWorld War 11, they had brought in no more than two … Show more… Show moreImage transcription textMaking America Great Again least advantaged, where the returnson such investments were highest. As the federal governmentexpanded, it did not merely extend oppor— tunities to … Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson 84 in US. society, leadingbusiness ?gures were necessarily key partici— pants in thissuccess. Prominent Republicans became believers as … Show more… Show moreImage transcription textMaking America Great Again support for social insurance and hiscautious backing of many of the new regulatory measures comingout of a Democratic Congress. But it wasn’t all politics…. Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson creativity and daring. In itsradical manifestation, it even became some— thing of a conspiracytheory, dividing the world into a persecuted minority t… Show more… Show moreImage transcription textMaking America Great Again shocks (notably, the 1973—74OPEC oil embargo) and obvious policy mis— takes (Johnson’sguns—and—butter spending and Nixon’s urging of loos… Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson 88 Forty years later, whenClinton took the podium to deliver his inaugu— ral address, theworld looked different. The reservoir of enthusiasm fo… Show more… Show moreImage transcription textMaking America Great Again forward to long lives, a realeducation, and previously unimaginable material comfort. Bycombining the power of markets with a strong dose of … Show more… Show moreImage transcription textjacob S. Hacker and Paul Pierson 90 granted. The hostility of theright is unceasing and mostly unan— swered. Eloquent leadersoften defend individual programs but too rarely defen… Show more… Show moreImage transcription textThe contents of Foreign Affairs are protected by copyright. ©2004 Council on Foreign Relations, Inc, all rights reserved. Torequest permission to reproduce additional copies of t… Show more… Show more3. Image transcription textMckinsey & Company Strategy & Corporate Financeand Organization Practices Much anew about nudging’ Almost 15years after introducing a critical choice-making frame… Show more… Show moreImage transcription textSince Harvard professor Cass Sunstein and Mckinsey: How isnudging different now than it was, University of Chicagoprofessor Richard Thaler say, 13 years ago, when your … Show more… Show moreImage transcription textopt-out design- if the school or the locality knows Mckinsey: Forall the good that nudges can do, that you’re poor and you’re achild, you automatically there are also ethical concern… Show more… Show moreImage transcription textconcept? it’s been a concern, sure. Forthe past ‘lByears, I’ve beensigning copies of the book with the note, “Nudge for good,”which was meant as aplea. But I don’t think bad people… Show more… Show moreImage transcription textCareer highlights University of Chicago Booth School of Business1995-present) Charles R. Walgreen Distinguished ServiceProfessor of Behavioral Science and Economics, as wel… Show more… Show moreImage transcription textCass Sunstein: There’s increasing research to someone who wascruel. But if you tell a bully showing that if people find it fun to dosomething, they’re a bully, they’ll argue, “No, I w… Show more… Show more BusinessBusiness – Other