Question

Macro-economic Theories

1.Use Gibb’s Reflective Cycle to write a self-reflective piece on your experience and learning during this module (25% weighting, 1000 words)

Student/buyer’s note:  write about:

1-Theoretical perspectives

Ex: Keynesianism along with other ideologies,

2-Economic Policy and regulation

Ex:Business ethical frameworks

3- Contemporary Developments and debates

Ex: Corporate power and the state

And relate it to the writer in a self-reflection format

1.Discuss the merits of ONE of the statements below (75% weighting, 1000 words)

A. Higher levels of government intervention in the economy were appropriate at the beginning of the COVID pandemic, but as society returns to normality, it is better for the government step back and let the market self-regulate. Discuss the merits of this statement using theoretical and historical knowledge backed by concrete examples..

B.The structural power of capital means that government will always respond to the interests of business over those of other groups formed by citizens, such as labour unions, environmental groups or other interest groups. Discuss the merits of this statement using theoretical and historical knowledge backed by concrete examples.Submit your answer on Turinit in before 23:59 on the 18th May

 

 

Expert Solution

Keynesian Economics

I believe Keynes was right in that production begins and ends with money. For instance, if you look at how entrepreneurs invest their money, you will quickly realize that all their investments are profit-centered; even when donating to charities and causes, they will do it for brand recognition which eventually equals money (Arestis et al., 2018). But these investments, although individual-centered, create employment opportunities and increase production and income in the companies that the entrepreneurs have invested at. Thus, the main tenet of the theory reflects this assertion by stating that the economy of a country is led by demand for its products and services by local and international investors.

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