Question 1: Evolution of Government Business Relations
In the midst of the 2007-2008 financial crisis (also dubbed as the Great Recession), the U.S. government passed the Emergency Economic Stabilization Act of 2008, which created the $700 billion Troubled Asset Relief Program (TARP) to purchase toxic assets from the troubled banks. Put this event in an economic historical perspective and discuss how this act fits into the evolution of the government-business relations in the United States. Your answer will be evaluated based on how coherent of a thesis (argument) it presents, how strongly it is supported with logic and evidence, and how meaningfully and intelligently it uses the following terms and phrases (13 in total):
- Free-market approach
- Mercantilist approach
- Industrial Revolution
- Positive government
- Great Depression
- New Deal
- Classical economics
- Keynesian economics
- Business organization
- Legal doctrine
- Economic activism
- Modern, urban-industrial economics
- Multinational corporations
Question 2: Difference between capitalism and socialism
Let us say that someone claims that the United States is a purely or ideal capitalist economy. React to that claim and discuss in what ways it is true or mistaken. Your answer will be evaluated based on how coherent of a thesis (argument) it presents, how strongly it is supported with logic and evidence, and how meaningfully and intelligently it uses the following terms and phrases (7 in total):
- Socialism
- Capitalism
- Private ownership of property
- The framework state
- The promotional state
- The regulatory state
- The social service state
Question 3: Difference between liberal market economy and coordinated market economy
Assume that you are a business consultant advising a German company that considers to enter the U.S. market. The company likes to get a memo about how the business environment and the government business relations are different in the United States, compared to Germany. Please write that memo. Your answer will be evaluated based on how coherent of a thesis (argument) it presents, how strongly it is supported with logic and evidence, and how meaningfully and intelligently it uses the following terms and phrases (7 in total):
- Capitalism
- Liberal market economy
- Coordinated (managed) market economy
- Business
- Labor
- Coordination
- Competition
Question 4: Government System
Facebook is one of the most valued companies in the world, providing worldwide social networking services. Discuss how the company is dependent on or affected (positively or negatively) by the government’s policies and actions and how the company can influence the government. Your answer will be evaluated based on how coherent of a thesis (argument) it presents, how strongly it is supported with logic and evidence, and how meaningfully and intelligently it uses the following terms and phrases (15 in total):
- Infrastructure
- Financial assistance
- Subsidies
- Public loan and loan guarantees
- Tax breaks
- Research and development
- Procurement
- Regulation
- Economic and foreign policy
- Separation of Powers
- Presidentialism
- Congress
- Judiciary
- Federalism