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The economy is an issue that plays a role in every Americans life. But what is it exactly? In short, it is all of the combined wealth and resources of a country, in terms of the production and consumption of goods and services.

Economics extend to all resources – belongings, time, and even your smartphone’s data. Economic policy can be summed up in one question: resources are scarce, so how can society best distribute them?

When politicians propose new ideas such as creating more jobs, or changing how involved the government is in the operation of the economy, what they’re really doing is proposing ways to best allocate our country’s resources to Americans.

The government helps manage the economy in two ways: monetary policy and fiscal policy. Through monetary policy, the government regulates the money supply and interest rates via the Federal Reserve. Through fiscal policy, the government uses its power to tax and spend citizens and businesses.

Should the government be involved in how the economy is run?

Question for the Week - Should the United States Government Further Increase Interest Rates?

Learn More & Cast My Vote
Further increasing interest rates will benefit many companies, decrease inflation, and benefit savers. To elaborate, the higher that interest rates are, the less that people will spend because it is…
Caroline from PA
The conventional argument against raising interest rates goes as follows: it stymies US economic growth, skyrockets unemployment, and strangles innovation. I take a much different approach, instead focusing on the…
Ashwin from NJ

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