Economic Freedom Essay

Submitted By mdent1965
Words: 561
Pages: 3

Recommendations towards Global Economic Growth
Name
ECN360
March 30, 2014
Professor
Recommendations towards Global Economic Growth
In an effort to control global economic growth and to pull out of the financial downturn, and move towards economic growth. To achieve this endeavor, my recommendations will be to improve world-wide productivity rates, policies to control unemployment, and to lift embargos and trade bans.
While global economic relationships will achieve the necessary world-wide goals, recommendations to achieve global economic growth include lifting embargos and trade bans and this is why; by lifting embargoes and trade bans between countries this will result in higher product prices, low consumption of products and increase employment as well as utilizing global free-trade. For example Cuba has recently Since Fidel Castro relinquished power in 2008, the government has accepted several economic improvements planned to inspire free market. Although, Cuba is still a place of human rights abuse, the recent events would demonstrate that they are moving in the right economic direction.

Further recommendations to achieve world-wide economic growth would be to increase employment, for this to take place the world leaders will need to create job opportunities globally. Employment would be focus point that needs direct attention as employment will lead people to increase their consumptions and suppliers will increase production therefore the economy will change directions. Promoting economic freedom at home and abroad is essential to revitalizing the U.S. economy. In 2010, the United States fell from the ranks of the economically free countries in the Index of Economic Freedom and, in the years since, the U.S. has continued a steady decline. According to "2013 Global Agenda for Economic Freedom" (2013) “The warnings in the 2013 edition of the Index are too stark to ignore. Only by pressing for more freedom everywhere can the U.S. hope to avoid further decline. A road map to put the United States back on the path to more economic freedom has been clearly laid out in The Heritage Foundation’s Saving the American Dream plan. A plan for promoting economic freedom in the world is laid out in this Special Report. It describes many actions that nations around the world need to take and offers Washington a blueprint for a practical and effective global strategy. American leadership can be decisive in promoting…