ShmoopTube

Where Monty Python meets your 10th grade teacher.

Search Thousands of Shmoop Videos


AP U.S. Government Videos 90 videos

AP U.S. Government 1.1 Institutions of National Government
280 Views

AP U.S. Government 1.1 Institutions of National Government. What was the scale of representation in the House of Representatives when the Constitut...

AP U.S. Government 2.2 Public Policy
39 Views

AP U.S. Government 2.2 Public Policy. What did the Budget Impoundment Control Act do?

AP U.S. Government 2.3 Civil Rights and Liberties
14 Views

AP U.S. Government 2.3 Civil Rights and Liberties. Classifications based on sexual orientation receive...what?

See All

AP U.S. Government 1.4 Public Policy 187 Views


Share It!


Description:

AP U.S. Government 1.4 Public Policy. All of the following are true about laissez-faire economic theory except what?


Transcript

00:00

Thank you We sneak and here's your shmoop use your

00:05

brought to you by lazy fare a carnival for the

00:08

faint of heart all of the following her true about

00:11

laissez faire economic theory Except what all rights Contrary to

00:17

emphasize that smith All right we know we know this

00:21

is a p u s government Why are we asking

00:23

questions about economic theory Well ever noticed that the president's

00:27

approval ratings tend to go up is the economy improves

00:30

huh And that they tanked when the economy is running

00:33

on empty Well that's because surprise surprise people tend to

00:36

care about their financial situation And when things aren't going

00:39

so well they turned the blame squarely at the oval

00:41

office Now people tend to have a whole bunch of

00:44

thoughts on what kind of action the government should be

00:46

taking when dealing with the economy So let's See what

00:49

followers of laissez faire would bring to the party is

00:52

less a fat economic theory be contrary to the principles

00:57

of the new deal we'll face with the great depression

01:01

President roosevelt decided that government spending on new work and

01:04

welfare programs might help turn things around laissez faire economists

01:09

However believe that the government should do virtually nothing to

01:12

affect the course of the economy so they would have

01:14

preferred no deal to the new deal was let's say

01:18

fast central to de the government's approach to the economy

01:22

during the nineteenth century Absolutely laissez faire economics was developed

01:27

in part by economist adam smith author of the wealth

01:30

of nations and was quite popular in the nineteenth century

01:33

Laissez faire eventually lost fair ball to kinsey in economics

01:39

developed by john maynard keens who believe that the government

01:42

should run deficits in bad times The pump money into

01:45

the struggling economy sound familiar well that's because cane's ian

01:49

thought had a visible hand in influencing fdr new deal

01:53

programs which means that laissez faire is not a contrary

01:58

to the principles of modern fiscal policy Modern conservative economists

02:02

disagree with king's ian's on the amount of government spending

02:05

needed in recessions but virtually no politicians think the government

02:09

should do nothing about the economy in bad times So

02:12

is the correct answer Just because politicians agree they should

02:16

do something however doesn't mean they agree on what that 00:02:19.168 --> [endTime] something should be Their elected officials know not magicians

Related Videos

AP U.S. Government 2.2 Public Policy
39 Views

AP U.S. Government 2.2 Public Policy. What did the Budget Impoundment Control Act do?

AP U.S. Government 1.1 Institutions of National Government
280 Views

AP U.S. Government 1.1 Institutions of National Government. What was the scale of representation in the House of Representatives when the Constitut...

AP U.S. Government 2.3 Civil Rights and Liberties
14 Views

AP U.S. Government 2.3 Civil Rights and Liberties. Classifications based on sexual orientation receive...what?

AP U.S. Government 1.3 Political Beliefs and Behaviors
5 Views

AP U.S. Government 1.3 Political Beliefs and Behaviors. What sort of poll would you commission to monitor popularity over three months?

AP U.S. Government 1.1 Constitutional Foundations
562 Views

See how much you know about British political factions. That's what the cool kids read about nowadays, right? Well...we think it's cool.