idea enacted by the government as a solution to this problem: raising the minimum wage. However, he argues that this does not support the economy, nor does it help the citizens in the lower financial class. The idea is to bring government support to help increase the profits of the common worker; however, this mainly caused people to lose jobs and prices to raise in order to keep the business running. In agreement, raising the minimum wage mostly brings harm to our economy because of these reasons.
There are many varieties of fiscal policies which are used by the state apparatus of the country. In this essay we will consider one of them – austerity. In today's economy, austerity policies generally recognized as low efficient tool to deal with crisis. However, often based on political rather than economic and financial considerations, austerity continues to apply, and sometimes imposed on countries that have lost control over their finances. Countries use austerity measures to avoid the sovereign
CHAPTER - I INTRODUCTION “History has come to a stage when the moral man, the complete man, is more and more giving way, almost without knowing it, to make room for the commercial man, the man of limited purpose. This process aided by the wonderful progress in science, is assuming gigantic proportion and power causing the upset of man’s moral balance, obscuring his human side under the shadow of soul-less organization.”- Rabindranath Tagore, Nationalism, 1917. Aristotle felt that the purpose of