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Economic Analysis Project (Essay Sample)

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Economic Analysis Project Abraham Lincoln once said: “You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weakening the strong. You cannot help the wage earner by pulling down the wage payer. You cannot further the brotherhood of man by encouraging class hatred. You cannot help the poor by destroying the rich. You cannot keep out of trouble by spending more than you earn. You cannot build character and courage by taking away man's initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.” - Respond to this first from a personal perspective – Do you agree or disagree with Lincoln? Some of it? All of it? Or did he overlook something critical to an objective perspective? Justify your answer. - Are his ideas relative in today's world? Or are they just for that time and place in American history? Why or why not? Justify your answer. - Next, analyze this from an economic perspective: how would what he is saying affect the economy, both for the individual and the economy as a whole? Is Lincoln's reasoning economically and socially sound? Justify your answer. - Choose some specific time periods in American history that you believe either support or refute what Lincoln says. Describe the state of the economy at the time and explain how what happened supports your point of view. Justify your answer. - Be specific, thorough, and thoughtful in what you write. Any perspective is welcomed, but you MUST justify what you say with specifics. - Length: 3-4 pages or more, space and a half or double spaced; bibliography and endnotes as needed, format of your choosing. Proofread and spellcheck, please. source..
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Economic Analysis Project
Abraham Lincoln was an American president in the 19th century. He was president for four years, 1861-1865. Many of his quotes, phrases and statements had great impact in the economy on an individual level and whole economy in general. He is remembered for his intensive efforts in bringing development to America. He helped build rail roads and participated actively in the civil war.
Lincoln’s quotes on the economy are sensible and from a personal perspective I agree with them. The quote ‘you cannot strengthen the weak by weakening the strong’ and ‘you cannot help the poor by destroying the rich’ have related meanings and explanations (Kelly para 4). The weak and the poor fall in the same place. It is impossible to better their standards by simply destroying the rich or the strong. There is no connection between the two and simply the situation will be worsened by destroying the rich and strong with an aim of improving the weak and poor. Rather, it is important to keep the rich in the better position as the situation is half worse than destroying them.
‘You cannot bring about prosperity by discouraging thrift’, ‘you cannot help the wage earner by pulling down the wage payer’ and ‘you cannot further the brotherhood of a man by encouraging class hatred’ have relatively a similar explanation (Kelly para 5). In terms of economy improvement, it is only effective to boost the weaker sides than pulling down the strong sides aiming at improving the weak sides. For instance, if good relations are to be built between people, rebuking hatred amongst them is not as effective as preaching and encouraging brotherhood and love. The same applies to the situation of wages. Pulling down the wage payer cannot improve or increase the wages the earner is making. This applies directly to the economy.
‘You cannot keep out of trouble by spending more than you earn’ is simply relevant to real life. Spending more than one earns means there will be much strain of which the salary cannot support (Kelly para 6). This increases the debts and only increases trouble instea...
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