Panel discusses government regulation in economy

The role of government and the economy was discussed in terms of regulation, amount of power, intervention, historical events, welfare programs, small businesses, distribution and more Tuesday.

The event titled “Government and the Economy: Does the Government Have a Role” occurred in threes stages.

The first stage included a panel of five faculty and staff members presenting their stance on what government’s role is or should be in society regarding involvement with the economy. The second stage was an opportunity for panelists to ask each other questions, and the third stage opened the conversation to the audience of about 40 people.

Chris Wagner, a communication studies graduate student and a coordinator of Occupy EIU, said he thought the panel discussion was well balanced with different professional views.

“I thought it was interesting that the discussion varied from two main perspectives,” Wagner said. “I agreed with the more humanist perspective that the rights of others are more important than the idea that profit is more important than the rest of society.”

The panel consisted of Teshome Abebe, an economics professor; Kevin Anderson, a political science professor; Jeanne Dau, the director of the Business Solutions Center; Michael Gillespie, a sociology professor; Ed Wehrle, a history professor; and Jason Waller, a philosophy professor and moderator of the discussion.

Anderson spoke about the issue of boundaries with governmental involvement and he quoted Abraham Lincoln to express his view.

“The proper role of government is to do for our people that which they need done but cannot do for themselves,” Anderson said.

He also discussed how capitalism and democracy work together in a state of tension.

“Capitalism thrives on competition in the marketplace and democracy is inherent in that the idea that each of us equally can participate in the governing of our society,” Anderson said.

Tommy Zei, a senior political science major and the president of EIU College Democrats, said he thought Anderson’s point was interesting that government spending, societal work and economic policy are all interlinked.

“There were many important points that were brought up about how we fell into our current economic state through a combination of aspects,” Zei said. “I liked the idea of seeking to foster a stronger economy without paying too much socially or environmentally.”

Wagner said one aspect he learned from the panel discussion is that an hour and a half is not enough time to discuss the role of the government and the economy.

“Everyone in the room had their own idea of how the government’s role with the economy can be defined and it is a debate that will continue every day,” Wagner said. “Many factors are involved with this debate and it sparks many in-depth conversations.”

Dau said she thought there would have been more of a healthier discussion if they had more time.

“I would have liked to have had a longer conversation about the government’s role with the economy on a global stage,” Dau said. ” I think there was a lot of good conversation that people can reflect on and start to formulate their own opinions, which is where social change begins.”

Rachel Rodgers can be reached at 581-2812 or [email protected].