Republican vs. democratic views on a problem Essay

Republican vs. democratic views on a problem - Essay Example Democrats generally tend to take a more short-term approach to fixing the economy. When individuals in the nation are hurt by a weakened dollar or other negative environmental events, democrats begin looking toward ways to stabilize the lifestyles of the majority of citizens in the nation. Republicans support the efforts of corporate in the event of economic problems. This support would generally come in the form of business tax breaks and other economic incentives, designed to stabilize the health and wealth of the contemporary businessperson. Adam Smith, a renowned 18th Century economist, believed that strengthening the economic position of companies creates a trickle-down effect through jobs creation and social improvements. Smith further suggested that companies maintain no other responsibility other than to build a profit so that society can reap the benefits of better products. Republicans appear to believe strongly in the theories proposed by Adam Smith, as each time the nation faces an economic struggle, the Republican Party begins searching for new methods to boost the strength of the publicly-traded (Wall Street)