Perspectives of Policy

    Consumerism has played an integral role in the U.S. economy since the roaring 20's (1920's). Material ideals came to light alongside the introduction of mass advertising and credit spending. All of these factors were initially very beneficial for the economy; however, irresponsible spending eventually led to an economic collapse that we now refer to as the Great Depression. In general, consumerism can be beneficial if combined with correct policy implementation. In the time leading up to the Great Depression, however, there was a lot of reckless spending due to the novelty and unknowns of credit spending and public stock market trading.      An example of effective policy that facilitated consumerism in growing the economy was Reagan's reign over the 1980's. By implementing effective spending policy and targeting government expenditures, consumerism was guided towards having a positive impact on our economy. American GDP saw a massive rise without ...

      We all know and love the board game, Monopoly. But what exactly is a monopoly, and where do the themes of this household game stem from?     A monopoly forms when one supplier or producer has control over an entire market. Within this market structure, they are the sole provider. Without competition, they are able to determine prices however they see fit. Currently in the U.S. there is significant antitrust legislation to prevent the formation of these so-called monopolies. However, the preventative measures against monopolies were not always present. During a period in American history, called the Gilded Age, our economy was at a capitalistic peak and trusts were at an all time high. When it comes to this time period, one of the most prominent names in business was none other than J.P. Morgan. He was one of the most powerful bankers of the era and started the financial services company that would later be called J.P. Morgan. He financed many railroad proj...