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Politicians and Macroeconomics
Politicians come from many different backgrounds: educational, social, and financial. This in turn affects just about every decision that is made once these individuals are in office. With so many diverse backgrounds dealing with the same issue that affects millions of people, they are coming with different experiences, yet are expected to make these decisions without necessarily having had dealt with them before. This is the case with macroeconomics. The behavior of macroeconomics is affected by the behavior of the politicians that control and drive it (Mankiw 2009). The ignorance of one politician throws the entire system off.
Politicians today do not necessarily understand macroeconomics. In order for an economy to succeed, and in order for financial gains to be made, stability needs to be a key component of any economy (Mankiw 2009). However, politicians will never truly understand what it means in economical terms to really lift an economy from the bottom. Politicians are good at selling their ideas,...
Nothing moves anywhere. It can be good to get different perspectives on pressing issues, but personal believes and ideologies get in the way of their ability to properly deal with macroeconomics. An economist would see macroeconomics for what it is, the structure and performance of an entire system, not just the small parts that make it up (Mankiw 2009). Politicians get stuck on only getting their personal ideas through, or the collective ideas of their specific political party, that in the end, nothing happens (Zeleny & Parker 2011).
Today's most pressing economic issue is how to stimulate economic growth in today's recession. This is the perfect example of how personal agendas have been inhibiting any progress from occurring. Both political parties, Democratic and Republican, have different visions…
References:
Mankiw, N.G. (2009). Principles of Macroeconomics. Mason, OH: South Western Cengage Learning.
undefined. (October 12, 2011). No jobs bill, and no ideas. In The New York Times. Retrieved October 13, 2011, from http://www.nytimes.com/2011/10/13/opinion/no-jobs-bill-and-no-ideas.html?ref=unitedstateseconomy.
Zeleny, J., & Parker, A. (October 11, 2011). Romney looks past rivals as debate focuses on economy. In The New York Times. Retrieved October 13, 2011, from http://www.nytimes.com/2011/10/12/us/politics/republican-candidates-in-debate-divide-on-economy.html?ref=unitedstateseconomy.
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