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Word Count: 846
One enduring theme of American economic history has been a continuous debate about when and how extensively government should intervene in business affairs American history has seen the pendulum swing between laissez-faire principles and demands for government regulation Liberals and conservatives alike have sought to reduce or eliminate some categories of economic regulation both agreeing that the regulations wrongly protected companies from competition at the expense of consumers Laissez-faire is the French term for leave it alone In economic affairs laissez -faire is opposed to any government intervention into business affairs It is a belief that private interests should have free reign In a laissez-faire economic system capitalists believe that as long as markets are free and competitive the actions of individuals motivated by self-interest and self- betterment would work together for the greater good of society In my opinion the American economy benefits best from laissez-faire practices along with government intervention this philosophy is one in which America already represents The governments involvement helps to establish ground rules for free enterprise The government plays a central role in the process of development Government encourages market led development by using the tax system as an incentive for activity and a tool for income redistribution More than half of the government budget goes toward redistributive activities of some type Programs that are directly distributive such as Social Security Medicaid and unemployment compensation make up the bulk of the federal governments redistributive expenditures Programs were created with the intention of increasing the income of people Subsidized school loans and housing loans redistribute incomes to the recipient of those borrowing the money These loans make it possible for activity in the economy In short the goal of the government redistributive programs is to use the resources of some taxpayers to improve the welfare of others Redistributive programs essentially involve the transfer of benefits to those less well off in a society There could be two different motivations for
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