Tag: New Deal

Should a liberal-democratic government protect the ‘social rights’ of its citizens?

It is self-evidently true that a liberal-democratic government should protect the ‘social rights’ of its citizens. There are copious arguments from various eminent thinkers that back up this claim. Ranging across eras and philosophical schools, various intellectuals have endorsed the protection of social rights of citizens. This essay will draw upon the ideas of philosopher Socrates (through his disciple Plato), American founding father James Madison, and 20th century political scientist T.H. Marshall. In doing so, the essay will back the position that a liberal-democratic government should protect the ‘social-rights’ of its citizens.

Social rights can be loosely defined as those rights which are operant in public places. While this is not a legal definition of the term, it serves as a guideline for the essay. In a nation with diverse racial, ethnic and religious demography as the United States, it is expected that the laws reflect secularism and social equity. These . . . Read More

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A review of the US housing market crash of 2007-2008 & forecasts for the future

The severe decline in the state of world economy in the last two years is a culmination of several factors. But the bursting of the housing bubble in the United States alongside a precarious credit crunch situation have played major roles in precipitating the latest episode of economic recession in many countries. While the advanced nations in North America and Western Europe have borne the brunt of the recession, lesser developed economies and several emerging markets are simultaneously experiencing a slowdown in economic activity. Financial analysts and political commentators point out that the unregulated financial markets of Western democracies make such crises inevitable. The proponents of free market capitalism, on the other hand, do not concede this point. This essay will foray into the conditions that led to the present crisis in the housing market and try to assess the merits of remedial policy measures in this regard. The evaluation of the stimulus and bailout packages is . . . Read More

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