Governments play a crucial role in the economy from "summary" of 23 Things They Don't Tell You About Capitalism by Ha-Joon Chang
Contrary to what many people believe, markets do not function in a vacuum. Governments play a crucial role in shaping the economy through various policies and regulations. For instance, they provide the infrastructure necessary for businesses to operate, such as roads, ports, and communication networks. Without these public goods, the economy would not be able to function effectively. Governments also play a role in ensuring fair competition in the market. They do this by enforcing antitrust laws that prevent monopolies from stifling competition and innovation. Additionally, they regulate industries to protect consumers from harmful practices and ensure that businesses operate in a socially responsible manner. Moreover, governments have a responsibility to...
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