Economics 2030
If the United States introduces universal child care, what will likely happen to GDP? What about the welfare implications?
example answers from forum
I believe universal child care would raise the GDP as the child care system can be categorized as a government spending. Government spending is a category that is included in the GDP. This government expenditure would also increase the welfare of people with children. Having the government support overworked parents to facilitate a better environment and a better potential upbringing for children sounds good on paper.
Being from a country where universal child care exists, I can say that having this system in place doesnt solve all the issues mentioned above.
Additionally, while the universal child care system is categorized as government spending, the money originates from taxpayers. With that being said, I feel conflicted about this because should a childless person have to pay for other peoples children? I am not sure.
example 2
By economical definition, GDP=consumption + investment + government spending+ net(exports-imports). If the government introduced universal childcare, then it would obviously increase government spending which would in turn increase the GDP. The welfare implications can only be predicted. The welfare of the United States could increase based on the prediction that more jobs will be created for childcare providers and that opportunity will improve for more of the population to work the first few years of a child’s life.
I believe the cons of universal childcare would outweigh the benefits. People who are voluntarily idle would remain idle and benefit from taxpayers forced contribution as many already do. Increasing taxes for people who do not have small children ( ages 1-4) would probably have a detrimental effect since so many are just getting by in our economy. Once this plan was implemented, there would be a shortage of qualified childcare providers because the need for them would be astronomical. The first few years of a childs life are the most formative, instilling parental guidance, imprinting morals, and developing bonds would suffer greatly.
Please keep it simple.
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|
