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History/Amer Civ Since 1877 - Essay Example

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Ronald Reagan himself was conservatives by nature and viewed the Great Society’s idea of progressive politics as way of wiping out the American cultures. He signed into law an act that made several immigrants acquire the U.S citizenship illegally. The act was viewed as…
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History/Amer Civ Since 1877
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Download file to see previous pages While the great society was calling for reduction in the federal budget deficit, Reagan almost tripled the national budget shortage. During his tenure, the U.S foreign debt increased to approximately $3 trillion, which almost tripped the in first 80 years of the century Reagan, & National Review Books, 11-15. He implemented major tax cut to please fellow conservatives during first year in office consequently reducing government revenue impulsively. Notwithstanding conservative views that tax cuts often upsurge revenue, the nation went into deeper debt forcing him to him raise taxes just a year after enacting the tax cut (Reagan, & National Review Books, 2004).
This is also referred to as globalization. Under globalization, organizations have invested and opened their branches in other in other parts of the world. This has been facilitated by favorable government’s policies, technological advancement, favorable cultural practices and competition in the local market. Corporations current operate internationally either virtually global or physically global (Atkinson 3).
In virtual globalization, the corporation must not have its offices in the other country but can export its products and services to specific customers while in physical globalization, corporation have physical designated offices in the countries in which they operate. Economic globalization is commonly related to neo-liberal policies such as decreases in tariffs, the decrease or removal of limitations on overseas investment, and the attachment of services such as insurance and banking in trade rules.
Due to globalization, there has been massive change in the economic exchanges such as trade deregulation, liberalization, growth of the global market place. It has also led to political transformation, redeployment of power and the growth of global civil society, social cultural changes and technological changes (Atkinson 5).
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