economics p1
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APA and references and word count apply write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:
There is a continuing debate between economists on how to make economic choices. Are choices to be based on facts of the economy, on value judgments, or on some sort of combination of these? In the article “Fair Taxes? Depends What You Mean by Fair,” Gregory Mankiw, a Harvard professor of Economics, argues the issue of fairness and taxation from two viewpoints: one that leads to the conclusion that taxes for the rich should increase and one that leads to the conclusion that no one group should be deemed more entitled than another based on a decision by another group.
Based on the facts presented in the article, do you think the U.S. tax system is fair? Discuss this from the context of positive economics versus normative economics. If you were advising the president, how do you think tax reform could benefit the economy as a whole?
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