Government interventions in the economy from "summary" of Economic Facts and Fallacies by Thomas Sowell
Government interventions in the economy can take various forms, including regulations, subsidies, taxes, and restrictions. These interventions are often justified on the grounds of correcting market failures or promoting the general welfare. However, the actual effects of these interventions can be quite different from their intended goals. One common form of government intervention is regulation, which aims to control the behavior of individuals and businesses in the marketplace. While regulations are often put in place to protect consumers or ensure fair competition, they can also have unintended consequences, such as stifling innovation or driving up costs for consumers. Another form of government intervention is subsidies, which involve giving financial assistance to certain industries or groups. While subsidies may help these in...
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