Economic Position of Presidential Candidate (Essay Sample)

Name: Instructor: Course: Date: Economic Position of Presidential Candidate Executive Summary The current alarming economic position of the state is squarely blamed on the incumbent government economic systems, which have totally failed to develop strategic measures to boost the Gini coefficient. The country is experiencing low and poor quality production of goods and services due to inappropriate and substandard technology used in the industries. Further, the ever increasing unemployment rates, stunted growth of the gross domestic product, and the failure to compete favorably on the international market describes the current situation of the state. Therefore, a country needs a president in the form of a savior who can comprehensively retrieve the economic position from the current drawbacks so that every national enjoys the persistent increase in growth and development of our motherland. Introduction An economy is aproductionunit of the state, and its progress influences the standards of living of the local population directly.Presidents are required to determine the direction of the economy and more importantly, the progression of the economy. As a result, they are required present appropriate economic ideas to realize proper management of the national resources as well as theprolific production of goods and services. Besides, the stability of the economy leads to the increase in the production, growth in the gross domestic product, employment opportunities, infrastructural development as well as the rise in government revenue (Hsu 74). However, if the economy is not strategically and comprehensively planned, production of goods and services will be low, under-utilization of resource, limited technological and industrial growth, squat tax base and the standards of living of the general public is anticipated to be truncated. Nonetheless, the president of the state is entitled to develop strategies aimed at guaranteeing economic growth and development (Arnold 27). Therefore, as a presidential candidate, it is important to lay emphasis on the strategies that will be directed towards the growth of the gross domestic product, industrialization, maximization of employment opportunities, industrial development, technology and skill acquisition and tactical means of controlling inflation among others. The core aim of this paper is to analyze how the economic position can be effectively implemented to achieve a better economy in the forthcoming regime for a presidential candidate. Gross Domestic Product Gross domestic product refers to a measure of the sum of all the services and goods produced in the country over a given period. Notably, to achieve a stable and ideal gross domestic product, well-established measures should be implemented to ensure that the public can consume the produced goods and services, controlled government expenditure, and increase on local investments as well as the export value. As a potential presidential candidate, this ideal GDP shall be achieved in the following ways; Increasing the Levels of Efficient Production. Efficient production is the technologically advanced means of producing goods and services that match the international standard. When the public entrusts me with power, the government shall fund and give investment loans to the producers to enable them to use the latest technology during production. Further, the produced products will of the highest quality, hence influences the people to consume them, compete in the international market to raise the monetary value from the export as well as achieving production independence. As a result, standards of living the countrymen engaged in kind of business will increase and the state attain high revenueto affect the economic growth of the country positively (Blanchard 38). Creating Employment Opportunities. This isanother venture that I will ensure that the vast population of the country is engaged in productive businesses, which shall stimulate their ability to demand the produced goods and services. Notably, full employment enables the country to have a wide revenue base, investment potential, consumption ability and production of quality products. As a result, the country's monetary value of the locally consumed goods and services, investment and standard of the manufactured products on the international market shall increase to catalyst a rise in the gross domestic product. Moreover, the increase in the gross domestic product of the country unswervingly implies economic growth. Therefore, entrusting my candidature shall automatically indicate already increased individual standards of living resulting from the envisaged economic growth (Arnold 27). Industrialand Technological Development The Limited growth of industries and technology in the incumbent government created amicable grounds for my candidature for the presidency.Industrialization moves along with growth in technology, which implies that once more industries are constructed without application of the latest technology, the products are of a poor quality. Further, poorly produced goods and services are denied an opportunity to compete favorably on the international level market,which limits the country's revenue from the exported products (Ackley 37). Besides, the low technology in the production process slows it down, and the output is of poor quality. However, my position on this economic issue is to implement policies intended to boost industrial development incorporated with high technology. As a result, high-quality products shall be produced, and the local population motivated to consume the domestically produced products, hence better standards of living. Gini coefficient The economic income and resource allocation are inequality distributed, which indicates a great disparity in the standards of living of the local population. Notably, from the previous decade, the Gini index at the family level is persistently decreasing, which has put the state at a potential risk of unequal resource distribution, hence economic stratification. However, the forthcoming regime under my guidance shall impose policies aimed equal distribution of power through developing ventures that will enable the affected nationals to gain the ability to control resources. Besides, ensuring full employment per each family in the state and supporting the creative business ideasof young entrepreneurs as well as introducing loan schemes to push forward the small scale businesses financially. Therefore, application of such policies shall increase the family income Gini index to create a favorable and equal resource allocation in the country. Promotion of Creativeness and Innovativeness The local populationcandevelop productive activities that can employ themselves to achieve a better standard of living as well as being units for government revenue. However, the incumbent government has done little to support small-scalebusiness and funding the unique new business ideas that youths and other potential businesspeople have. As a result, the forthcoming regime under my control shall ensure that government funds and give loans to small scale business and developing business ideas. Further, more efforts shall be put in entrepreneurial community education where qualified business experts facilitate the local people on how they can start up economic activities without investing much capital. Nonetheless, this will enable the government address the current problem of unemployment as the people with little or no capital shall be in a position to start up their small scale business to facilitate their daily living as well as being a source of government revenue. Therefore, there are untapped resources in the nationals, but the incumbent government failed to observe that we must address for the betterment of the country. Controlling Inflation A sustained increase in the general prices of goods and services is a critical problem that cripples down the economy. Notably, little has been done by the current government to keep inflation in check, and it is the sole reason the local currency continuously loses value against others, which implies that its value can buy a small percentage of the goods and services. As a result, the government and theNationals lose a lot ofmoney; prices go high that pushesthe investors to withdraw the money in the economy, which significantly affects the economy. However, in the forthcoming regime, our economic position is strategically located as the measures are well structured to keep inflation like the following; Fundamentally, the major cause of inflation in an economy is money overflow. This situation happens when too much money of chasing few goods in an economy. Therefore, to curb inflation, it is critical to implement monetary policies to restrict the circulation of the money in the country.Application of contractionary policies is the intended approach that shall be...