Econ FINAL essay 3

Card Set Information

Econ FINAL essay 3
2012-12-02 14:27:51
Econ FINAL essay

Econ FINAL essay 3
Show Answers:

  1. LA's income distribution
    • big gap between rich and poor
    • small middle class prevented growth of a mass consumer market
    • caused political tensions and even civil wars
    • free market policies haven't solved problem to gov'ts turned away from them
  2. Why worse than asia?
    asia did more to provide poor people with skills and opportunities
  3. Ways asain gov'ts helped
    • anti poverty policies
    • universal primary education/technical school
    • help for agriculture
    • export emphasis
    • macro stability
  4. Anti Poverty Policies
    • programs to help poor
    • wanted to win their vote
  5. Universal Primary Education/Technical School
    gave poor good job skills
  6. Help for Agriculture
    • built up farm sector
    • rural people became more prosperous
  7. Export Emphasis
    • gave industrial aid to good exporting companies
    • had to be efficient, high product quality, stay in line with county's comp adv
  8. Macro Stability
    • didn't get trade/budget deficits get out of control
    • had less inflation & fewer crises
  9. Ideas for improving LA's income distribution
    • education reform: spend $ on universal primary edu
    • encourage more exports: emphasis on labor intensive
    • business policy reform: gov'ts need to stop over regulating
    • spending reform: work on macro stability (less boom-bust)