If government cannot manage the economy successfully, should the government stay out of it or should the economy just fail. please answer it in 100 words.
Can you imagine the situation we would be in if all the banks and insurance companies failed, annuities stopped paying, depositors got nothing, and credit became unavailable? Should government stop paying unemployment insurance and stop paying social security? Should there be no government incentives for small business to create more jobs?
Use your own words.
i cannot imagine that situation...thank u soo much drwls for helping me...
When considering the role of the government in managing the economy, it is important to understand that there isn't a one-size-fits-all answer. However, if a government is unable to effectively handle the economy, asserting that they should stay completely out of it or allow it to fail may not be the optimal solution. Instead, a balanced approach could be pursued, where the government focuses on creating a conducive environment for economic growth by implementing sound economic policies, providing necessary infrastructure, and fostering a competitive business environment. Simultaneously, it's essential to encourage private sector participation, innovation, and entrepreneurship, as they often play a significant role in driving sustainable economic development.
