In 2000, the federal government distributed over $260 billion of funding to state and local governments via 180 formula programs. These programs promote a wide spectrum of economic and social objectives, such as improving educational outcomes and increasing accessibility to medical care, and many are designed to compensate for differences in fiscal capacity that affect governments abilities to address identified needs.
As fuel prices continue to soar, more and more people are finding themselves unable to meet the basic costs of energy, and may be forced to choose between (for example) adequate food and adequate warmth—they are in fuel poverty. It is a complex issue, and for years companies, governments and civil society have vigorously apportioned blame with little to show in the way of practical results.
The International English Language Testing System (IELTS) Academic Version and General Training Version tests gauge English language comprehension by testing listening, reading, writing, and speaking skills.
They are used by companies, universities, and national governments worldwide. Test takers who get a high score are able to stand out from the crowd-whether they are applying for a new job or a promotion, to get into a university, or for a student or permanent visa.
Readings in Applied Microeconomics: The Power of the Market
A central concern of economics is how society allocates its resources. Modern economies rely on two institutions to allocate: markets and governments. But how much of the allocating should be performed by markets and how much by governments? This collection of readings will help students appreciate the power of the market.
The market’s self-correction will not be enough, however. Higher taxes will eventually be inevitable, since so many governments have lurched heavily into deficit. But politicians must tread carefully. Tax rises right away would be a rotten idea, since for the moment fiscal stimulus is needed. And even when governments raise the money, they should first get rid of deductions and reverse unmeritocratic measures (such as George Bush’s repeal of America’s death tax) rather than jacking up income-tax rates to punitive levels. Squeeze the rich until the pips squeak, and the juice goes out of the economy.
