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12806903
Government Intervention in Economies
Description
Choosing a topic for EPQ
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Mind Map by
Harriet M
, updated more than 1 year ago
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Created by
Harriet M
over 6 years ago
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Resource summary
Government Intervention in Economies
Which economies have a lot of government intervention?
either historically or at present
e.g Soviet Union
e.g Cuba
how liberal is the government?
what sectors does the government intervene in?
externality diagrams
how transparent is the government, its dealing and its poltiicans?
why is the government intervening?
to correct market failure?
which type?
to reduce inequality?
is it effective to take money from the rich to give to the poor?
Yaron Brooks
argues we should be increasing social mobility instead
ideally everyone would have equal oppurtunities
is laissez-faire capitalsim really possible?
leaving markets to market forces
supply /demand set prices
markets allocate scarce resources
potentially could improve productive and dynamic efficiency
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