(L65) 5 Reasons Why Everyone Should Adopt A Cat!

This is my ninth speech for the Public Speaking course of the Ron Paul Curriculum. I really enjoyed this one, because I feel that I took a fun and unique spin on giving a “household product pitch”. Let me know what you guys think. Like, share, comment and please be sure to let me know¬†if you have a cat, and how it has impacted your life! (If you don’t have a cat, why not? How has that impacted your life/what do you think would be different if you did have one?)
Thanks for listening and sharing your input. God Bless!
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(L40) Government Intervention in The United States

1.) Explain the basics of the Austrian theory of the business cycle. What is the difference, in terms of consequences, between lower interest rates that result from the saving choices of individuals, and lower interest rates that are achieved artificially, by a government-established central bank?

The Austrian theory of the business cycle basically dictates that in a free market, there is communication between the consumer and the producer which is translated through interest rates. As long as interest rates are not interfered with, they will read correctly to producers and allow them to meet the needs of their consumers reliably. However, when interest rates are interfered with and pushed down artificially by the central bank, there is no longer clear communication between producers and consumers. This lack of economic coordination creates conflict, and makes society poorer because labor and physical resources have been misallocated. The results of government intervention and false interest rates are recession and depression plagued upon the people.

2.) What are some of the pitfalls of industrial policy?

Industrial policy is what it is called when the government favors certain industries through subsidies, cheap loans, and other specific assistances. One of the biggest downfalls of industrial policy is the fact that it diminishes incentive within the favored business firms to be entrepreneurial. Another large issue with industrial policy is that it eliminates competition to a certain degree, and makes it more difficult for newer firms to compete against pre-established, government supported firms.