Political Ideology & Regulation of the Economy

Announcements:

5th hour:  You must complete the Panorama Survey during study session. Here is the login information:

*Note: for students to login to Panorama they will need a login. Student login access code is similar to last year’s survey*

The login access code for students is the letters and numbers before the @ symbol in their student email address. 

Example: Sample student Jimmy Hope has a district email account. The email is jhop2263@lps53.org. Jimmy's student Panorama access code is jhop2263.

HW for your parents! Please have them take the Parent Pew Typology Quiz and share their results with you. Record their ideology in your notes. How does it compare to yours? We will talk about the results and political socialization in class Monday.

READING: 162-189 in Edwards

UNIT Four Identification Terms 

Today's Essential Question: How do ideological differences affect the regulation of the economy and marketplace?

Learning Standards:

PMI-4.B: Explain how U.S. political culture (e.g., values, attitudes, and beliefs) influences the formation, goals, and implementation of public policy over time.

PMI-4.C: Describe different political ideologies regarding the role of government in regulating the marketplace.

PMI-4.D: Explain how political ideologies vary on the government’s role in regulating the marketplace.

PMI-4.C.1: Liberal ideologies favor more governmental regulation of the marketplace, conservative ideologies favor fewer regulations, and libertarian ideologies favor little or no regulation of the marketplace beyond the protection of property rights and voluntary trade.

PMI-4.D.1: Ideological differences on marketplace regulation are based on different theoretical support, including Keynesian and supply-side positions on monetary and fiscal policies promoted by the president, Congress, and the Federal Reserve.

Political Ideology & Regulation of the Economy

Public policy is action (and sometimes inaction) taken by the government, both state and federal, to address various issues or problems. Action is usually taken by either the legislative or executive branch, but sometimes the judicial branch also helps make public policy.

People's views on public policy often differ along ideological lines. One area of disagreement is the proper role of government when it comes to regulating the economy and marketplace. Liberals tend to favor more government intervention and regulation, while conservatives prefer a more limited government and belief in free enterprise.

Today, we are going to take a look at ways the government is involved in economic decisions including fiscal and monetary policy, government regulation of businesses, and the national deficit and debt.

Task #1
Read this article on Republican Views on the Economy to understand a more conservative view on regulating the economy. Next, take a look at the other side and Democratic Views on the Economy.

In your notes, create a t-chart with one side labeled Liberal Economic Policy and the other Conservative Economic Policy. Paraphrase the above articles on the differences between liberal (Democrat) and conservative (Republican) economic viewpoints on the following issues:

• Taxes
• Government spending (what type of programs)
• Regulation of businesses
• Social welfare programs
• The budget and national debt

Finally, write a brief paragraph explaining which economic policies you are more likely to support and why. This article might help in looking at the impact of both Democratic and Republican policies.

Review Videos: