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Redistribute Income

The previous photo is a real life example of the government providing a good or service because it is a photo of the entry to a national park. The government provides for the upkeep of national parks as a public service to help keep the country clean and preserve the natural resources and wildlife found in these parks. Without this service, many species would be endangered and we would not have access to the beauty that the parks hold. Also, we would be more wasteful of natural resources.

Provide Public Goods or Services

HEADLINE

Christie proposes $37 million in new education aid

HEADLINE

Obama Budget Boosts Welfare Spending Ahead of Election

Correct for Externalities

This photo is a real life example of redistribution of income because it shows an elderly woman receiving a social security check. Social Security is one of the ways that the government takes money from those who are actively making it (through taxes) and gives it to those who cannot work because they are too old or are disabled. This system redistributes and circulates wealth throughout the classes of people so that the rich and employed do not gain excessively while those who cannot work suffer. The government does this in order to help bridge the economic gap between high earners and low earners. It also is in the best interest of the economy for the money flow to be constant and circulating.

HEADLINE

E-cigarettes face restrictions as cities update smoking ordinances

The previous photo is a real life example of the government correcting for externalities because it is a warning on a box of cigarettes. The warning tells smokers that what they are doing is harmful and deadly. The government actively forces businesses to post warnings such as these because they help to keep the consumer informed about what they are purchasing and the effects that it may have on them and those around them. Without these corrections, producers would not tell their consumers what was in their products which could be deadly.

Maintain Competition

HEADLINE

SESAC Facing New Anti-Trust Legal Challenge

Maintain Legal and Social Framework

Stabilizing the Economy

HEADLINE

Virginia Adopts Bipartisan Law Protecting Farms, Property Rights

This picture is a real life example of

maintaining conflict because it shows

different companies which make a lot

of the same products. The government

allows multiple companies to produce,

for example, laptops because it keeps

one company from monopolizing the

market and allows consumers to make

choices about what to spend their money

on. Lack of monopolies also fosters

innovation and growth as companies

attempt to outdo each other by

discovering the latest technology.

HEADLINE

Producer prices fall .01%; inflation still weak

The previous photo is a real life example of maintaining legal and social framework because it is currency. The government regulates a national currency so that each state does not try and make it's own which would cause problems with value of items, transfer from one currency to another, and create a lot of disorganization and greatly hurt the nations economy.

The previous picture is a real life example of the government stabilizing the economy because it is a picture of an advertizement for new jobs available. This shows the government promoting the creation of new jobs which lowers unemployment and helps to stabilize the economy. The government is interested in the creation of new jobs because it stabilizes the entire economy; it lowers unemployment, it creates wages which creates consumers which helps with circulation of money and it levels out those who are still unemployed.

American Free Enterprise System Project

By Charlotte Little

Mr. Sirico // period 2

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