Should the government intervene in the economy? Tejvan Pettinger economics One of the main issues in economics is the extent to which the government should intervene in the economy.
THOSE who have done me the honour of reading my previous writings will probably receive no strong impression of novelty from the present volume; for the principles are those to which I have been working up during the greater part of my life, and most of the practical suggestions have been anticipated by others or by myself.
There is novelty, however, in the fact of bringing them together, and exhibiting them in their connection; and also, I believe, in much that is brought forward in their support.
Several of the opinions at all events, if not new, are for the present as little likely to meet with general acceptance as if they were.
It seems to me, however, from various indications, and from none more than the recent debates on Reform of Parliament, that both Conservatives and Liberals if I may continue to call them what they still call themselves have lost confidence in the political creeds which they nominally profess, while neither side appears to have made any progress in providing itself with a better.
Yet such a better doctrine must be possible; not a mere compromise, by splitting the difference between the two, but something wider than either, which, in virtue of its superior comprehensiveness, might be adopted by either Liberal or Conservative without renouncing anything which he really feels to be valuable in his own creed.
When so many feel obscurely the want of such a doctrine, and so few even flatter themselves that they have attained it, any one may without presumption offer what his own thoughts, and the best that he knows of those of others, are able to contribute towards its formation.
By some minds, government is conceived as strictly a practical art, giving rise to no questions but those of means and an end. Forms of government are assimilated to any other expedients for the attainment of human objects.
They are regarded as wholly an affair of invention and contrivance. Being made by man, it is assumed that man has the choice either to make them or not, and how or on what pattern they shall be made.
Government, according to this conception, is a problem, to be worked like any other question of business. The first step is to define the purposes which governments are required to promote. The next, is to inquire what form of government is best fitted to fulfil those purposes.
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Having satisfied ourselves on these two points, and ascertained the form of government which combines the greatest amount of good with the least of evil, what further remains is to obtain the concurrence of our countrymen, or those for whom the institutions are intended, in the opinion which we have privately arrived at.
To find the best form of government; to persuade others that it is the best; and having done so, to stir them up to insist on having it, is the order of ideas in the minds of those who adopt this view of political philosophy.
They look upon a constitution in the same light difference of scale being allowed for as they would upon a steam plough, or a threshing machine. To these stand opposed another kind of political reasoners, who are so far from assimilating a form of government to a machine, that they regard it as a sort of spontaneous product, and the science of government as a branch so to speak of natural history.
According to them, forms of government are not a matter of choice. We must take them, in the main, as we find them. Governments cannot be constructed by premeditated design. They "are not made, but grow. The fundamental political institutions of a people are considered by this school as a sort of organic growth from the nature and life of that people: Their will has had no part in the matter but that of meeting the necessities of the moment by the contrivances of the moment, which contrivances, if in sufficient conformity to the national feelings and character, commonly last, and by successive aggregation constitute a polity, suited to the people who possess it, but which it would be vain to attempt to superduce upon any people whose nature and circumstances had not spontaneously evolved it.
It is difficult to decide which of these doctrines would be the most absurd, if we could suppose either of them held as an exclusive theory. But the principles which men profess, on any controverted subject, are usually a very incomplete exponent of the opinions they really hold. No one believes that every people is capable of working every sort of institutions.
Carry the analogy of mechanical contrivances as far as we will, a man does not choose even an instrument of timber and iron on the sole ground that it is in itself the best.
He considers whether he possesses the other requisites which must be combined with it to render its employment advantageous, and in particular whether those by whom it will have to be worked possess the knowledge and skill necessary for its management.
On the other hand, neither are those who speak of institutions as if they were a kind of living organisms really the political fatalists they give themselves out to be. They do not pretend that mankind have absolutely no range of choice as to the government they will live under, or that a consideration of the consequences which flow from different forms of polity is no element at all in deciding which of them should be preferred.
But though each side greatly exaggerates its own theory, out of opposition to the other, and no one holds without modification to either, the two doctrines correspond to a deep-seated difference between two modes of thought; and though it is evident that neither of these is entirely in the right, yet it being equally evident that neither is wholly in the wrong, we must endeavour to get down to what is at the root of each, and avail ourselves of the amount of truth which exists in either.
Let us remember, then, in the first place, that political institutions however the proposition may be at times ignored are the work of men; owe their origin and their whole existence to human will. Men did not wake on a summer morning and find them sprung up. Neither do they resemble trees, which, once planted, "are aye growing" while men "are sleeping.
Like all things, therefore, which are made by men, they may be either well or ill made; judgment and skill may have been exercised in their production, or the reverse of these. And again, if a people have omitted, or from outward pressure have not had it in their power, to give themselves a constitution by the tentative process of applying a corrective to each evil as it arose, or as the sufferers gained strength to resist it, this retardation of political progress is no doubt a great disadvantage to them, but it does not prove that what has been found good for others would not have been good also for them, and will not be so still when they think fit to adopt it.One of the main issues in economics is the extent to which the government should intervene in the economy.
Free market economists argue that government intervention should be strictly limited as government intervention tends to cause an inefficient allocation of resources. The Consequences of Excessive Government Intervention - The fact that there are areas in which government is needed cannot be denied.
The state collecting taxes for the provision of things such as roads, bridges, police departments, fire departments, or even a safety net for those that fall on hard times, as long as it is well regulated are all .
Government Intervention of the Internet, Free Study Guides and book notes including comprehensive chapter analysis, complete summary analysis, author biography information, character profiles, theme analysis, metaphor analysis, and top ten quotes on classic literature.
Jul 22, · Elections and Technology. The introduction of information and communications technologies (ICT) into the electoral process is generating both interest and concern among voters, as well as practitioners across the globe.
Advantages of government intervention in the economy Improving people’s standard of living As a result of government support, local industries may have a better chance to develop. There will be more jobs and workers' incomes can be raised.
This can boost economic growth in the long term and improve people's standard of living. Feb 04, · There are advantages and disadvantages involved in the use of Internet interventions in regular clinical practice.
First, because of the highly structured and often scripted nature of the intervention, therapist drift is less likely to occur compared to face-to-face therapies.