Journal Topic 12: Role of the Government

The much heated debate of how much or how little the government should interfere with the economy has been going on since the creation of America. Some say that the government shouldn’t do as much as possible to control the economy while some others say that the government should keep its hands off and let the economy run by it self. I believe that the government should have even more power in their control of the economy. For example in the Great Depression of the 1930s was the most devastating depression of the 20^th century and the cause of this was the government having no control over the economy and the stock market with the Hands Off Policy resulting in the unemployment rates rising significantly high, sharp decrease in the value of money, rises in prices of foods and services, as well as a high death rate. In modern society of the United States, the government tax collected should be spent to stimulate the country and its economy as the United States has a current debt of $16.8 trillion. Yes, the Federal Reserve Bank should also try to manipulate interest rates in order to achieve the same goal of stimulating the economy.