1)Why can the USA not adopt the economic policy, similar to the EU, of capitalism combined with social welfare?

2)Do you think it is an indictment of our education system that so many people misunderstand the way the economy and/or economic policy works?

3)What would be the best economic policy for preventing China from surpassing the U.S. economically?

4)Which presidential candidate has the best economic policy, according to independent economists?

1)In keeping its values and promoting the interests, security and well-being of its citizens, the European Union adopted various policies including the economic policy of capitalism and social welfare. For such policies to be effective, the willingness of the citizens to support and accept them plays a major role. It?s not a guarantee for similar policies to be effective in different environments. The economic policy of capitalism and welfare can?t be adopted by the USA as a result of:

• Inhomogeneity. The European region cohesively agreed to the adoption of the economic policy due to their homogeneity. For such a policy to be effective the working citizens of the European region accepted to be highly taxed to fund their governments in their numerous projects of providing free social services to help their own. In the USA there exist an inhomogeneous population where the adoption of such a policy can face hindrances as most of the working citizens wouldn?t accept high taxes as the beneficiaries will not specifically be their own but also others from other races.
• Lack of trust. Most of the citizens in the European nation trust their governments with their taxes as they entrust them to administer them for equality and well-being for all citizens. In the USA, the citizens wouldn?t entrust the government with their taxes as they believe the government prioritizes funding the forces and neglects the provision of social services to its citizens.

2)Understanding economics is a long and continuous process. An individual should be updated with the present condition of economy, changes in economy and factors behind those changes. An individual cannot learn all the aspects of economy through textual knowledge; practical knowledge is also important, to understand how economy behaves. Therefore the education system should enrich students with practical knowledge as well.

In schools and colleges, economic policies and models are taught which are based on certain assumptions and facts which were true in the past but did not hold true in the present scenario. This can lead to misunderstanding of economy by individuals.

Thus, we can say that not only education system is responsible for misunderstanding of economy, but assumptions of past economic model can also hamper the understanding of the economy.

3)America ought to adopt the following economic policies to prevent China from surpassing it economically:

• Currency devaluation. The move aids in improving American exports. Basically, depreciating the dollar makes American exports cheap in foreign markets hence improving their competitiveness. Besides, it makes Chinese imports expensive, thus discouraging people from buying them.
• Monetary policies. The United States should use expansionary monetary tools to stimulate economic growth in the country. Expanding the supply of money helps to boost investments as well as aggregate demand leading to improved productivity and growth of the gross domestic product. On the other hand, contractionary monetary policies aid in controlling inflation and its adverse effects on the economy.
• Fiscal policies. It entails the use of expansionary and contractionary fiscal tools to accelerate economic growth in the United States. The former is used to expand the supply of money hence augmenting aggregate demand, which prompts the production sector to improve its productivity. The latter helps to maintain healthy levels of inflation, thus boosting economic growth.

4)According to independent economists, Rand Paul is the presidential candidate with the best economic policies. This is in regard to the Supply chain economists. The presidential candidate uses the Keynesian policies to base his arguments on borrowing and spending.

The candidate has the best economic policies as he strives to solve the numerous debts, by proposing policies to maximize free enterprises, reduces taxes, and lower the trade regulations. His policies are directed at motivating economic growth.

Rand Paul's proposes the Penny plan, whose implementation will guarantee a 5% cut across the board, and end up creating a balance in the next five years. His economic policies are best as they maintain that spending and borrowing are no longer options. Presently, the greatest proportion of the population now appreciate the presidential candidate's speech against the budgetary deals.

His economic policies are effective in solve Washington's challenges, as they conform to the use of fiscal conservatism and responsibilities. Improved standards of living arise from the free marketplace.