In: Economics
In your opinion, what do you believe to be the U.S.’s major public policy problem right now? (examples: infrastructure, economic opportunities, immigration, the economy, foreign trade, etc...DO NOT WRITE ABOUT EDUCATION). How would you go about it; what would you do in order to fix it? Make sure you are able to support your answer.
There are various policy problems that are taking place in U.S that are mentioned below:-
1) Infrastructure- Infrastructure is the general term for the basic physical systems of a business, region, or nation. Examples of infrastructure include transportation systems, communication networks, sewage, water, and electric systems. Due to low infrastructure in U.S economy Pavement and bridges in poor condition directly impact the lives of ordinary citizens by increasing wear and tear on vehicles, driving up repair costs, inflating travel times, and sometimes introducing new safety concerns.
A proper infrastructure should be provided every where in the country so as to reduce the pavement and gap.
2) Economic opportunities-Economic opportunity means any purchase, sale, lease, contract, option, or other transaction or arrangement involving property or services wherein a country may gain an economic benefit.The nation is facing the most havoc economic crisis since the Great Depression, including steep increases in unemployment, lost assets etc. On many indicators of opportunity, the present reality is likely far worse than the most recent available year’s statistics would suggest. The quickly changing economic environment emphasizes the importance of creating a centralized, public, online system that provides “real-time” access to government opportunity data as it becomes available, disaggregated by demographic and regional differences.
The government of the country should create more economic opportunities and has to make various reforms so that it could give the residents a better standard of living.
3) Immigration-Immigration is a process through which individuals become permanent residents or citizens of another country, the process of immigration has been of great social, economic, and cultural benefit to states.The available evidence suggests that immigration leads to more innovation, a better educated workforce, greater occupational specialization, better matching of skills with jobs, and higher overall economic productivity. Immigration also has a net positive effect on combined federal, state, and local budgets. But the country of migrants would bear loses.
The country should provide resources inside the country so that there will be no problem of migrants migrating to other countries. As like china provided various domestic Producers incentive to produce domestically.
4) Foreign trade- The recent trade war with china affect U.S economy as well.The trade war caused economic pain on both sides and led to diversion of trade flows away from both China and the United States.A September 2019 study by Moody's Analytics found that the trade war had already cost the U.S. economy nearly 300,000 jobs and an estimated 0.3% of real GDP.(from source).
The american government should explore new markets in order to get rid of these harms from trade war.