Question

Directions:

Watch and read the following materials before you write your response:

• The Costs of Inequality - Joseph Stiglitz

I pick this:

• Liberalism: is a view that income should be redistributed in such as way so that the poorest in society always receive an adequate level of income as a form of social insurance. In other words, government policies should aim to raise the welfare of the worst person in society.

Write a Respond to the following prompts in a post with a minimum of 250 words,

• Imagine you are a policymaker, pick one of the three political philosophies (mentioned above) that you agree with? Give your reasons. What are the arguments against the philosophy you have chosen?
• Give examples of antipoverty government policies which align with your chosen philosophy.
• How important is it to study poverty and income inequality in economics? Explain you answer.

Answer 1

Political philosophies refer to study of certain philosophies like liberalism ,democracy, socialism etc.

Liberalism means that people should have political and individual freedom.Human beings should be given freedom to pursue their dream.They support non interference of government.Liberalism supports limited government control,freedom of individual rights which includes civil and human rights,capitalism that is free market in the economy,democracy, equality of men and women,equality of race , equality of income and freedom of speech.Liberal organisation of societies are best for the society.

I agree with the political philosophy of democracy.Democracy is of the people, for the people and by the people.Arguments against democracy are leaders keep on changing and leads to instability in the country.

The anti poverty government policies are integrated rural development program,employment assurance scheme,Jawahar rozgar yojna.,food for work program etc.

It is necessary to study income inequality and poverty because one leads to the other .Income inequality leads to health and social problems and lower economic growth.Inequality is the main cause of poverty and lower economic growth has widened the gap between the rich and the poor.