Posted: May 13th, 2018

That’s not the way things really are: Correcting economic misinformation

That’s not the way things really are: Correcting economic misinformationAs the CEO of a small manufacturing company, your interests and responsibilities range far beyond the four walls of the factory. You have to be in tune with the global economy, politics, taxation policies, and other external forces that affect your company and your employees. Along with your peers in other companies, you’ve learned to speak out on issues – particularly when you believe that misguided government policies or misinformed public opinions threaten the viability of your company, your industry, and the economy as a whole.An item in this morning’s newspaper certainly got your attention. A prominent national leader claimed that job-growth figures in recent years prove that the government’s economic policies are working. The economy is in reasonably good shape, considering the battering it has taken in recent years, but you believe the situation would improve considerably if the government would address a variety of issues, from health-care costs to economic incentives for investing in manufacturing upgrades. Moreover, you know that the politician’s claim about job growth is only partly true. Yes, the U.S. economy added nearly 2 million new jobs in the past five years, but a recent BusinessWeek article pointed out that virtually all jobs were in health care. Not only did all other industries not add jobs as a whole, but the dramatic rise in health-care employment suggests no end to the rise in health-care costs.Your task: Write a brief letter (no more than 300 words) to the editor of the newspaper. Correct the impression that job growth is occurring throughout the economy and encourage political leaders to address problems that you believe continue to limit growth in other industries, including health-care costs, taxation policies in the manufacturing sector, and unfair competitive practices from companies in certain other countries. Make up whatever information you need to back up your claims.

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