What is the concept of state intervention in the economy? 🔊
State intervention in the economy refers to the government's actions to influence or regulate economic activity, often aiming to achieve specific social or economic objectives. This can include setting policies on taxation, public spending, and regulation of industries to promote economic growth, protect consumers, or address inequalities. Such interventions are seen as necessary to stabilize the economy during crises, provide public goods, and ensure equitable distribution of resources. The appropriate level of intervention remains a matter of debate, reflecting differing political ideologies about the role of the state in economic affairs.
Equestions.com Team – Verified by subject-matter experts