Ethical Economic Policy and Poverty in America
This paper argues that there is a strong connection between ethical economic policy and poverty in a nation, especially in the United States. Economic policy is ethical when a nation’s real wage grows as fast as its productivity, and the tax system is progressive. From these criteria, the US economic system was unambiguously ethical from 1950 to the 1970s, when nearly 30 percent of the labor force was employed in manufacturing, and the rate of poverty fell at the fastest pace.
Ethical Economic Policy, Tax system, Macroeconomic Policy.