Goverment Participation Essay

941 words - 4 pages

* Federal Reserve Chairman Ben Bernanke spoke to Congress on Tuesday about the still troubled U.S. economy, and what lawmakers can do to ease the pain. Giving his semiannual address to the House Banking Committee, he failed to provide any concrete information about actions the Fed will take to do its part in aiding recovery. One possible option the Fed has is another round of quantitative easing, a process in which the government purchases assets from banks and private companies in order to add a set amount of money into the economy.
* Often confused with printing money, quantitative easing uses the new electronically-created cash to purchase government bonds and other assets, rather than ...view middle of the document...

There are number of reasons like greed, self interest, elitism etc. to object free market and private sector which caused government to involve and control the market. But on the other hand with government involvement there are issues like corruption, waste, low productivity and inefficiency etc.
* Natural flow of the economy or free market economy sometime produces unacceptable / undesirable results.
Example: High unemployment, inflation or deflation
* In these types of circumstances where unwanted situations arise, government intervene the market and involve actively with the purpose of changing the economy and try to correct the situations in different ways to overcome the situations like unemployment, inflation or deflation.
* By modifying & changing some important areas of the economy, government tries in different ways like, by changing and adjusting fiscal policies & monetary policies, by increasing & controlling government spending, by managing tax rates and managing currency rate & money supply, government tries to make market work better and keep the economic growth steady.
* In my opinion government should not be involved in the market because free market economic system and capitalism are the main reasons on which USA economy was founded and which allows everyone to achieve financial growth & success and achieve American dream.
* Free market economic system creates competitive market, encourages entrepreneurship, maintain the balance of supply and demand and help to keep natural prices of goods & services. Free market gives an opportunity of financial freedom to own a business and make growth.
* Recently we have seen the government tries to control the market through bail outs but it has failed and still no significant growth in economy has been noticed and still we have a high ratio of unemployment, high gas prices and inflation. Free money to banks has not helped small business and still there is...

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