Week 1 – Discussion Forum 2

Week 1 – Discussion Forum 2

Required Resources

Texts

Gwartney, J. A., Stroup, R. L., Sobel, R. L., & Macpherson, D. A. (2018). Macroeconomics: Private and public choice (16th ed.). Retrieved from https://www.cengage.com

· Chapter 1: The Economic Approach

· Chapter 2: Some Tools of the Economist

· Chapter 3: Demand, Supply, and the Market Process

· Chapter 4: Demand and Supply: Applications and Extensions

Tamny, J. (2015). Popular economics: What the Rolling Stones, Downton Abbey, and LeBron James can teach you about economics . Retrieved from https://www.redshelf.com

· Chapter 7: Wealth Inequality Is Beautiful

Recommended Resources

Articles

Bourguignon, F. (2018, March). Spreading the wealth. Finance & Development, 55, 22–24. Retrieved from https://www.imf.org/external/pubs/ft/fandd/index.htm/

· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article discusses taxation and income transfer to the poorest segment of society. The article points out that the transfer of cash is not enough to lift income inequality and that education and training need to be considered as well. This article will give you more information and a different perspective on income inequality and may assist you with the Capitalism Versus Socialism discussion forum this week.

The Economist. (2016, April 2). Wages and jobs; Poor economics. The Economist, 27. Retrieved from https://www.economist.com/

· The full-text version of this article is available through the ProQuest Central database in the Ashford University Library. This article gives a global perspective on minimum wage as it discusses Britain’s minimum wage (national living wage). This view of Britain helps us understand what could happen here in the US. This article may assist you in your Minimum Wage (Price Floor) (Debate) discussion forum this week.

Kuhn, M., Schularick, M., & Steins, U. (2018, September). Research: How the financial crisis drastically increased wealth inequality in the U.S. Harvard Business Review. Retrieved from https://hbr.org/

· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article gives insight into the causes of income inequality between the classes based on housing and stock investments. Further, the article gives a view of the racial breakdown of wealth inequality. This article will give you more information and a different perspective on income inequality and may assist you with the Capitalism Versus Socialism discussion forum this week.

Manning, A. (2018, January/February). The truth about the minimum wage: Neither job killer nor cure-all. Foreign Affairs, 97, 126–134. Retrieved from https://www.foreignaffairs.com/

· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This informative article gives both theory and practical information on both sides of the debate on raising the minimum wage. The article gives the latest statistics on major cities and sheds light on how individuals and businesses will be impacted. This article may assist you in your Minimum Wage (Price Floor) (Debate) discussion forum this week.

Portes, J. (2017, June 23). What Marx got right… and what he got wrong. New Statesman, 32–35. Retrieved from https://www.newstatesman.com/

· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article gives a historical view to start discussing Marx and also a more global perspective on capitalism. The article also gives a current view of regulation and automation as it relates to capitalism. This article may assist you with the Capitalism Versus Socialism discussion forum this week.

Multimedia

CBN – The Christian Broadcast Network [CBN]. (n.d.). Steve Forbes: Capitalism will save the U.S. – CBN.com (Links to an external site.) [Video file]. Retrieved from https://www.youtube.com/watch?v=EE0-NBnpVBk

· This video featuring Steve Forbes discusses the importance of capitalism to the U.S. economy. He provides strong support for competition and less government intervention. This video may assist you with your Capitalism Versus Socialism discussion forum this week. This video has closed captioning and a transcript. Accessibility Statement (Links to an external site.) Privacy Policy (Links to an external site.)

PragerU. (2014, October 27). What’s the right minimum wage? (Links to an external site.) [Video file]. Retrieved from https://www.prageru.com/videos/whats-right-minimum-wage

· This video provides information from economist David R. Henderson as he takes the position opposing minimum wages. He explains that when the government forces an increase in wages without the market improving, the result is employers hiring fewer people and/or cutting hours. This video may assist you in your Minimum Wage (Price Floor) (Debate) discussion forum this week. This video has closed captioning and a transcript. Accessibility Statement does not exist. Privacy Policy (Links to an external site.)

PragerU. (2017, Mar 30). How socialism ruined my country (Links to an external site.) [Video file]. Retrieved from https://www.prageru.com/video/how-socialism-ruined-my-country/

· This video provides a view of Brazil’s economy and the perspective that socialism may have impacted the country’s massive unemployment and debt. This video will provide a global view and may assist you in your Capitalism Versus Socialism discussion forum this week. This video has closed captioning and a transcript. Accessibility Statement does not exist. Privacy Policy (Links to an external site.)

PragerU. (2017, Aug 21). Who does a $15 minimum wage help? (Links to an external site.) [Video file]. Retrieved from https://www.prageru.com/videos/who-does-15-minimum-wage-help

· This video provides information from a 2015 study by the Manhattan Institute which opposes increasing the minimum wage. This video may assist you in your Minimum Wage (Price Floor) (Debate) discussion forum this week. This video has closed captioning and a transcript. Accessibility Statement does not exist. Privacy Policy (Links to an external site.)

PragerU. (2018, April 8). As the rich get richer, the poor get richer (Links to an external site.) [Video file]. Retrieved from https://www.prageru.com/video/as-the-rich-get-richer-the-poor-get-richer/

· This video provides a view of how as free market capitalism has grown, global inequality has fallen. The presenter gives a number of facts and examples to support his assumption that, as the rich are getting richer, the poor are getting richer faster. He provides a number of global examples. This video will provide a global view and may assist you in your Capitalism Versus Socialism discussion forum this week. This video has closed captioning and a transcript that can be accessed here: As the Rich Get Richer, the Poor Get Richer Transcript (Links to an external site.). Accessibility Statement does not exist. Privacy Policy (Links to an external site.)

INSTRUCTION

Prior to beginning work on this discussion,

· Read Chapters 3 and 4 of Macroeconomics: Private and Public Choice.

For this discussion you will debate with your peers the concept of increasing minimum wage.

In order to participate in a knowledgeable debate, you must have a firm understanding of each side of the issue. Your textbook discusses minimum wage in detail and like many traditional economists, for the most part, does not support increases in the minimum wage citing the negative impacts that such increases may create. Research at least two scholarly and/or credible resources (other than the Macroeconomics: Private and Public Choice text). Use factual information; do not simply document or restate opinion.

Write an initial post of at least 200 words that either supports or does not support an increase in minimum wage. Be sure to use economist lingo and to include facts and support your response with at least two scholarly and/or credible resources.

The post Week 1 – Discussion Forum 2 appeared first on Versed Writers.

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