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FS Handout - centralized-Education systems should have both...

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The Role of the Government - The general functions of the government are to: regulate law and order * restrict monopolies * minimal intervention “The scope of the government must be limited. Its major function must be to protect our freedom both from the enemies outside our gates and from our fellow-citizens: to preserves law and order, to enforce private contracts, to foster competitive markets.” (Capitalism and Freedom, 2) Our policy on intervention is that the government should intervene when the market fails : * Defense * Public Goods- Education - The government should enforce anti-trust laws to support competition within the market, allowing for free exchange of goods. Area’s Where the Market Fail: - Defense should be in the hands of the government because: * the market would not provide the resources necessary for a nation’s defense system * defense is such an important part to a nation’s security, it must be
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Unformatted text preview: centralized.-Education systems should have both public and private schools and regulated by the Federal government , if there were only private schools, those who did not have the economic means would not be able to get an education.-The system allows for competition (through the private schools), but public schools ensure that everyone gets an education When the Government should Not Intervene :-Trade- ex. Australia-Manufactured Goods- competition exists in the markets and they provide for the consumer’s needs, and the market promotes efficiency and high product quality-Rent Control- the government should not places price ceilings on houses, it disrupts the quality of housing. (NYC housing) ** Intervention should occur at a national level, the congress should make these decisions ** Some decisions should be made at the local level to better reflect people’s needs....
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