2. Пользуясь словарём, уточните значение и произношение слов:

То prevent (from], to turn (to), tax breaks, purpose, give-and-take, to split (into), to experience, accompany, cycle, to tend.

Найдите в тексте предложения с данными словами, переведите их.

3. Найдите и выпишите английские эквиваленты слов и словосочетаний в тексте:

Таким образом; по вопросу о; как правило; примерно; чем больше... тем ниже; за единицу (изделия); взлёт и падение.

4. Прочитайте текст, ответьте на вопросы:

1. What were the most important business problems in the USA?

2. Why was it necessary to turn to the government for help?

3. What are the advantages and disadvantages of big business?

4. Is there a problem of relations between managers and workers?

5.What is the business cycle?

5.Разделите текст на логические части, выделите в каждой из них ключевые предложения (содержащие основную информацию). Напи­шите краткое содержание текста.

6. Прочитайте текст. Расскажите о взглядах известных экономистов на проблемы в обществе. Озаглавьте текст.

Classical economists like Adam Smith recognized the need for government to provide goods and services like national defense that would not or could not be provided by the private sector. But they urged that government’s role be kept small.

Samuelson P. (the Massachusetts Institute of Technology) has argued that too many of the problems the classical economists wanted to leave to the market place were external costs and not subject to the laws of supply and demand. He argues it up to the government to establish goals for the economy and use its powers to solve problems related to issues such as public health, education, and pollution.

Friedman M. (the University of Chicago) sees things differently. Like the classical economists, he regards supply and demand as the most powerful and potentially beneficial of economic forces. The best that government can do to help the economy, in Friedman’s view, is to keep its hands off business and allow the market to “do its thing”.

The minimum wage laws are a case in point. Whereas Samuelson endorses minimum wage laws to help low-income workers, Friedman says they harm the very people they were designed to help. He argues that, by increasing labour costs, minimum wage laws make it too expensive for many firms to hire low-wage workers. As a result, those who might otherwise be employed are not hired at all.

Samuelson endorses the concept of government –sponsored programs such as public housing and food stamps to reduce poverty. Friedman though prefers giving low-income families additional income and allowing them to use the funds to solve their problems without government interference. To apply this concept, Friedman suggested the “negative income tax”. The graduated income tax takes an increasing amount in taxes as one’s income rises. The negative income tax would apply a sliding scale of payments to those whose income from work falls below a stated minimum.

TEXT 13. BUSINESS TODAY.