Policy Recommendation

Better Essays

Assignment 3: Economic Policy Recommendation
Dr. Camille Castorina
ECO 405 – Economic Problems and Issues

Briefly describe the economic problem you have selected.
According to text in today’s American economy, poverty is essentially an income distribution problem. The U.S. economy generates enough income to go around so that no one really has to live in poverty. But enough income does not go to everyone, and some people do live in poverty. Poverty is concerned with the relationship between the minimum needs of people and their ability to satisfy those needs. The difficulty with any definition of poverty involves the meaning of minimum needs and the amount of money required to
…show more content…
Price discrimination occurs when people of different races or genders are forced to pay different prices for the same good or service, provided the differences are not due to differences in cost of serving the consumer. (Ansel M. Sharp, Evidence of Discrimination in Our Economy, 2010)
It may seem that racism and discrimination doesn’t exist anymore in the US, with the election of an African American as president, but discrimination still harbors here. To see discrimination first hand, just travel south a few hundred miles where pickup trucks still have the Confederate flag painted on their cabs and many houses have a Confederate flag flying, which a minority in the area views as racist. Discrimination has played a huge role in shaping economies and creating poverty; women, for instance, still reflect a small portion of engineering and higher income job percentages. A report from says that women have a 600 percent higher unemployment rate and receive, at average, 13 percent less money than men do while having the same occupations and getting the same work done. Discrimination still affects the poverty rate and unemployment.
Design a proposed economic policy solution to the problem.
According to text, there are two approaches and only the government can really solve this problem to easing poverty. First,
Get Access