Economic Laws of United States

1. Economic Laws of United States

2. The Great Depression People lose all their money Strong need support from the government Bank failure

3. Economic Policy Laissez-faire Free market economy Do Nothing  New Deal Recovery 3R Relief Reform

4. The Idea of Economy Keynesian economics (Keynesianism) Supply－side economics President Clinton Monetarism New economy 1990s 1980s --------1960s

5. Employment Act of 1946 Able to work and seeking work Maximum employment, production, and purchasing power National Production and Employment Budget Create the Council of Economic Advisers “The Congress hereby declares that it is the continuing policy and responsibility of the Federal Government to use all practicable means consistent with its needs and obligations and other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and local governments, ... for the purpose of creating and maintaining, in a manner calculated to foster and promote free competitive enterprise and the general welfare, conditions under which there will be afforded useful employment opportunities, including self-employment, for those able, willing, and seeking to work, and to promote maximum employment, production, and purchasing power.” Employment Act of 1946

6. Full Employment and Balanced Growth Act of 1978 Full employment Economic growth Four Goals Balanced budget Elimination of inflation

7. Omnibus Budget Reconciliation Act of 1993 Change It created 36 percent and 39.6 income tax rates for individuals in the top 1.2% of the wage earners. Revive the U.S economy