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Tatiana [17]
3 years ago
5

How can the fiscal policies of a country influence individual finances?

History
1 answer:
Y_Kistochka [10]3 years ago
8 0
 <span>When the economy is tight with high unemployment and poor circulation of money 
policy can be changed to allow more government spending which stimulates 
employment and growth. 
During the great depression, congress wanted to cut spending to balance 
the budget. Nobody had any money to spend and the economy got worse. 
Finally FDR started some public work projects that got many people working. 
When people have jobs they spend money and that circulation is what 
has kept our country booming for mostly 70 years</span>
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Industrialization and mass production in Europe at this time have led to social theories, such as Marxism.

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Karl Marx came with the idea of ‘Marxism’ where he believed that the workers were losing their independence because of Industrial revolution. Due to Industrial revolution, mass production required large number of workers in the factories. But they had to work in factories on the given timing and they had no control on their own lives. They were also paid less wages according to Karl’s idea of Marxism. This was unfair to the workers.

According to this theory, industrial revolution led to only two classes of people in a society: the working class and the owners of factories. So, social theories arose during this time.

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