What is the difference between a government intervention and a laissez-faire policy?
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government intervention involves authorities stepping in to regulate and guide economic activities, like a referee in a game. On the flip side, a laissez-faire policy is a hands-off approach, letting the economic game play out without much interference, akin to letting players navigate the field witRead more
government intervention involves authorities stepping in to regulate and guide economic activities, like a referee in a game.
On the flip side, a laissez-faire policy is a hands-off approach, letting the economic game play out without much interference, akin to letting players navigate the field without strict rules from the sidelines.
It’s like choosing between having a referee on the field or letting the players manage the game themselves.
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