Question

Dichotomies: Define dichotomy. Then discuss various articles from the texts that take on, present, and/or challenge an accepted dichotomy. Discuss the dichotomies and the attempt, if any, to resolve them.

Answer 1

Dichotomy is breaking of ideas into two parts which are contradictory, which are jointly exhaustive and mutually exclusive.

An example is rising unemployment cannot lead to rising inflation and vice versa. However this can be challenged and both unemployment and inflation can be high together if there is supply side shock due to natural disasters which causes unemployment to go high and availability of food and other items declines cauisng prices to soar and thus inflation too grows simultaneously.

To resolve them, government must use contractionary fiscal policy and offer tax incentives for firms to generate employment.