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Is the president's economic policy hindering or advancing business growth?

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yaga49 | Valedictorian

Posted May 28, 2013 at 1:20 PM via web

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Is the president's economic policy hindering or advancing business growth?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted May 28, 2013 at 1:54 PM (Answer #1)

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There is no way to know the answer to this question from an objective point of view.  There are at least two reasons for this.

First of all, it is hard to know objectively what is good for the growth of business.  For example, it could be that “Obamacare” would be very good for the growth of business.  It could be that it would reduce health care costs and make it easier for them to pay for benefits for their employees.  But even if this were true, Obamacare could still retard business growth if most business owners dislike it.  They might think that it was going to have negative effects on them and react accordingly, even if it would really help them.  Thus, it is hard to know which policies will actually be good for business because the attitudes of business owners matter as much as the policies themselves.

Second, it is not as if President Obama’s own policies have actually been implemented to any great degree.  The Republicans control the House of Representatives and are strong enough to block legislation even in the Senate.  What this means is that many of Obama’s preferred policies have not been tried out.  The policies that we do have are not something that either party actually likes.  Therefore, it is very hard to say how Obama’s policies would impact business.

Overall, I would argue that the policies that have been implemented under the Obama administration cannot be all that bad for business, at least not for big business.  The stock market is at or near all-time highs.  That means that big companies, at least, are prospering.

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