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Government Essays & Research Papers

Why Do Governments Intervene

Topic: Government

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The Australian economy is a mixed economy because it relies on a mixture of the market mechanism and the government to co-ordinate market activity. Generally, the market is considered to provide the best economic outcomes for a society in most circumstance. However, there are certain situations in which the market fails to deliver efficient outcomes and the involvement of the government is necessary. The government sectors perform two basic tasks: 1. Provision of the Legal Framework - the government’s lawmaking ability allows it to influence and control the private sector. This ability allows it to pursue economic, political and social objectives. 2. Provisions of goods and services - the importance of the government sector in Australia are reflected in its contribution to employment and expenditure. Why do Governments Intervene? (Free markers do not always deliver the most desirable and economic outcomes) 1. Market failure in prov...

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