Jul 21, 2017 Research papers

What should the role of government be during difficult economic situations?

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Appropriate Role of Government Intervention

INSTRUCTIONS:

Discussion Board Thread (My Original Response)



This week, you will answer the questions based on the Barr text and the Wiki on the Affluent Society.

1 What should the role of government be during difficult economic situations?

2 Should the government intervene in market failures? Argue for or against and use the current economic crisis to explain your argument.

3 Do you believe that definitions of poverty and inequality can only be determined based on value judgments? Discuss and provide evidence and substantiate your response with appropriate references.



Sources to Use to Answer the Questions:

*Nicholas Barr “Economics of the Welfare State” 5th ed, ONLY chapters 3-5 MUST be use as sources/citations/in-text citations to help support your answers



*”The Fluent Society” at http://abridge.me.uk/doku.php?id=the_affluent_society

CONTENT:

Appropriate role of government intervention Insert name: Institution: Date: Question 1 Barr (2012) claims that the government has a duty to play during difficult economic situations by redistributing income in favor for the people who are poor, deal with externalities and provide public goods and services (p.13). Market system faces several limitations that can be effectively overcome by the government interventions. The government should offer services and goods which private entrepreneurs cannot offer. The government needs to focus on maintaining economic stability. The important role of the government is fiscal responsibility that is a vital part of that stability. Government debts can cause more burdens and weaken the foundation of the economy. In additi

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