Most Americans don’t concern themselves with economic matters, plus they leave the decision-making as much as other folks along with the politicians which they feel are better fit than them, who better understand the issues at hand. However, it’s important for many citizens in the USA to learn a little bit and recognize how our business cycles work, our banking system works, how regulations operate, and how a for-profit enterprise runs.
It makes sense to have a bit of knowledge in both macro and micro economics. You see, everyone sound economic public policy and should encourage free markets, and yet, there are way too a lot of people that speak up when something isn’t right, even though they understand.
For example the enormous bailouts for General Motors and Chrysler where all the money went to the unions that made those businesses really unprofitable over a very long period of time and really caused the problem. The union stranglehold prevented the companies from competing, and yet it absolutely was the taxpayers they bailed out the businesses, which then gave the cash to the unions that they’d go manner as well as the firms could declare bankruptcy without political backlash or interference.
Obviously, it does not take a rocket scientist to figure out that this is a group of nonsense. But when people usually do not speak up, we’re likely to see more awful decisions being made in the hands of the government intervening in private enterprise far to the near future with our taxpayer’s cash. Thus, please consider all of this, it is really up to all of us.