Government Interventionist Views

Definition

These are perspectives that support government involvement in economic affairs. Advocates believe that government regulation or control can correct market failures and promote social welfare.

Related terms

Regulation: Rules set by authorities designed to control behavior usually within business practices.

Fiscal Policy: Government strategy related with taxation, public spending, borrowing aiming at influencing economic conditions such as inflation rates or unemployment levels.

Monetary Policy: Actions taken by central banks such as Federal Reserve System in US aimed at controlling money supply to stabilize economy.