government intervention in our economy (1 Viewer)

[mothermonk]

hey can anybody explain to me the points needed in an essay about:

"assess the need for government intervention in a market economy (australia)? thanks

 

[OzKo]

You would very much be expected to frame your essay in light of recent events so:

i) Highlight how the government has intervened in the past and why
ii) Use that as a launch pad to discuss the various economic scenarios where keynesian economics argues that intervention would be appropriate. Make sure to look at both sides of the argument.
iii) Analyse how the government could achieve this through the tools they have at their disposal.

 

[kwu1]

Go into market failure- externalities, income and wealth inequality, environmental issues and the government policies used to address this.