ECO 3028 – Microeconomics
Week 9 – Individual Work
The objective for this paper is to explain what I have learned from our class discussion and our readings of Chapter 30 of our text, Economics Today. It will show my personal understanding of this week’s objectives through explaining what I have learned by analyzing the impacts of government regulation of the economy, including the rationalization for and history of regulation, degrees of success, and future consequences if regulation does or does not occur while applying economic concepts to explain income distribution, and its connection lifestyle choices and opportunities. In this week’s assignment, to relate them to my life experiences, I have selected two articles relating to this topic, Income, Poverty, and Health Care, and I will be explaining why we are to review what has been happening lately, and why it is happening?
The first article that I have chosen relates to the same topic as our class discussion, healthcare. I chose this because it is highly relatable to not just a small group of individuals, but every American citizen in the United States. Obamacare, or Affordable Care Act, will take effect on October 1, 2013, and it is viewed as “when poor and middle-class Americans will begin signing up for the health care law's new benefits.” (Young, J. (1-19-13)) To make sure that everyone signs up for this new healthcare program, they have created “Enroll America, an umbrella organization of nonprofits and health care industry organizations, that will carry out a major national public education campaign with paid advertising, online outreach, community activities and coordination.” (Young, J. (1-19-13))
The major problem that most will have a hard time swallowing is the fines that you will receive, either as an individual, or as an employer. Government Health Insurance Mandates – If an individual does not have insurance they will be required...