By Matthew O’Toole, Trending Writer
A divisive presidential election has left the United States in a series of battles within itself with counter-cultures battling against one another on a variety of subjects. However, I believe most people would be able to agree on the fact that a healthy, booming economy is best for business and for every person no matter their beliefs or stature. The recent success of the stock markets, particularly the record-shattering highs of the DOW Jones and Nasdaq stocks among others, is hopefully an exciting time of a more prosperous time to come.
A prosperous economy leads to a prosperous and adventurous business culture that is willing to take calculated risks for the good of a company and the public as a whole. The extra expenditure and ability to take risks most often leads to new discoveries, innovations, and breakthroughs in a wide variety of fields such as in technological and medical developments.
The most obvious and relative example of this is an increase in grants given by various donors to university research labs, which Seton Hall University would obviously benefit from. The more grants for research a university or a lab can receive, the better, or more likely, their output of work will be.
Another example would be various medical centers and their research wings, such as New York University Medical Center. The more often they receive bigger and better grants, the more likely new techniques in treating diseases and debilitating skin wounds, and even cancer, will be discovered and developed.
Historically, competition breeds better business and consumer success. If President Trump’s administration can make health care insurance a more competitive field, for example by allowing anyone to buy any other state’s insurance if the policy better fits their needs or conditions, this will pave the path to greater competition throughout the industry.
As a more lighthearted example, take the famous professional wrestling battles of the 1990s, known as the “Monday Night Wars.” WWE Inc. had stiff competition with WCW Inc. for dominance of the ratings. During this period, ratings for professional wrestling were some of (if not) the highest in history, leading to each company attempting to one up each in order to stay afloat, bringing in some of the biggest profits in entertainment history.
To summarize, I hope there is a booming and healthy economy to look forward to in the coming years. It would allow businesses, universities, and other such research facilities to better our ability to survive and thrive in the world through innovation, competition, and cooperation, leading to happier, healthier lives for not just some, but all Americans.
A version of this article appeared in the Tuesday, March 21st print edition.
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