CHAPTER 21 SOCIAL & DOMESTIC POLICY. BUSINESS & LABOR POLICY SECTION I.

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Presentation transcript:

CHAPTER 21 SOCIAL & DOMESTIC POLICY

BUSINESS & LABOR POLICY SECTION I

TOPICS Promoting & Protecting Business Regulating Business Government & Labor

Free Trade (NAFTA) Why might the U.S. want free trade around the world? Federal Subsidies Commerce Dept. Help for Small Business Regulating Business Which is better for business? More regulation Less regulation What can you tell me about Upton Sinclair? The Jungle Promoting & Protecting Business costs the government MONEY PROMOTING & PROTECTING BUSINESS

REGULATING BUSINESS Consumer Protection There would be meat stored in great piles in rooms and the water from leaky roofs would drip over it, and thousands of rats would race about it…These rats were nuisances, and the packers would put poisoned bread out for them; they would die, and then rats, bread, and meat would go into the hoppers together. – Upton Sinclair, The Jungle Consumer Protection Laws False Advertising Laws Consumers and Product Safety Regulating sale of stocks (SEC)

GOVERNMENT & LABOR Government and Labor Unions – Wagner Act guarantees the rights of all workers to organize and bargain collectively* Act of negotiating labor contracts Regulating Unions – Taft-Hartley Act attempts to restore balance between labor and management Ex: Fast Food Workers Does a minimum wage cost the economy jobs? Does a minimum wage force business to share the vast wealth with the people that help produce it? Should we have a minimum wage?

TYPES OF FEDERAL SUBSIDIES There are four major types of federal subsidies Tax incentives Business can deduct certain expenses from their tax returns Government loans or credit subsidies Low interest rate loans Free services National Weather Service Direct cash payments Farm Bill