What according to you are the areas of the economy where government intervention is considered desirable?
Answer:
Very few particularly in developing countries which mostly have incompetent and corrupt governments. This is not because I believe that private markets operate perfectly. To paraphrase what Winston Churchill said about democracy, the private market system is a terrible economic system with many weaknesses. It just happens to be better than any other economic system that has been tried. Though many weaknesses or "market failures" can be identified, are governments capable of fixing those failures or will they just make things worse? Experience shows that mostly governments just make things worse. If you would like to read more about this subject, I have written a book which is summarized on my website, privatesectordev.com.
Medical this comes under public welfare and health
gas and fuel oil this comes under public wefare and safety.
utilities. water, electricity sewer,
In the event of a disaster, our federal government should take care of what needs taking care of, whether locally, statewide or nationally. Local government should take care of local stuff like roads, services, schools, etc. Otherwise, the government should mind it's own business in the private lives of its citizens. <*)))><
The commercial infrastruture is crucial to the operations of all business. By infrastruture I mean transportation, utilities, banking financing. However, if the market provides these then the governemt should not intervene completely but only to alleviate issues that the market will not fix. Right now the gov't monitors banking/finance, tranportation but does not exactly control it directly. The gov't still controls much of the utilities market.
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