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Should government intervene in the economy?

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Voting Style: Open Point System: 7 Point
Started: 2/10/2016 Category: Economics
Updated: 2 years ago Status: Post Voting Period
Viewed: 634 times Debate No: 86365
Debate Rounds (3)
Comments (1)
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Government shouldn't intervene in the part of economy. Economy is a science for freedom, for people to make their own choices, and learn how to survive in this world with scarce resources. That based on freedom. If government handily takes part in the economy. It's not represent the economy itself. Freedom leans toward Innovation. And innovation makes dynamic economic growth.


Of course the government should intervene in the economy. In an absolute free market those with economic advantage will press the advantage endlessly, gaining great wealth for themselves but in the long run destabilizing the economy at large. Neither absolute government control nor absolute freedom are wise. Instead, we need a guided free market.

This is best summed up Keynesian Economics. The theory, put forth by John Maynard Keynes, is that there will be ups and downs in the economy. The slow adjustment of prices and wages cause undo suffering for many people who, despite their best efforts, will not be able to stay ahead of inflation. In times of growth people will press ahead wildly, creating economic "bubbles" that will later burst and throw the economy into depression.

By adjusting tax rates and interest rates the government can assert a mild level of control over the economy. Times of growth can (and should) be slowed to prevent the uncontrolled growth that leads to sharp drops later on. The foundations built in a strong market can alleviate the problems that come with a weak market. There will always be ups and downs, but wise governmental influence can help even out the economic change so while the ups do no climb as fast, the downs do not drop as steeply.

John Keynes:

Keynesian Economics:
Debate Round No. 1


Do you think we can really trust government for now? Corruption is over and over, And any other regulations that the government gave in will end with the government controlling the economy. And you're using Keynesian economics that mainly focused on spending and government expenditure to recover the condition of bad economy such as recession. If the economy will recover from the slump recession and back to normal, all the government expenditure must be paid back from society. That's the problem at the first place that creating a huge amount of debt till now.

Government's intervene in the economy will end in the results of tthe command system. The govermment will prevents free trade from other countries and we can't really trust government to intervene and controlling the economy. Corruption is over and over in a lot of countries now. Fascism will rules and authoritarianism will rise.

'If socialists understood economics, they wouldn't be socialists'
-F.A Hayek-


Corruption is a reality if we are talking about the government or about the private sector. Anywhere there is people, there will be corruption. Removing government intervention will in no way limit corruption.

Keynesian economics is not just about government expenditure to recover from a recession. It is also about using times of growth to build a surplus that will bring the nation through hard times. It is about limiting both the highs and the lows.

The reason we have so much debt is that we have NOT practiced Keynesian economics. We have made expenditures to recover from economic downturns. However, we have been unwilling to make sacrifices during economic upturns. Instead we have just enjoyed the good times without preparing for the bad times. We could have avoided nearly all of our current debt if we had actually tried Keynesian economics

Since nearly every government in history has exercised some level of control over the economy, and not every government became fascist, it is clear that government intervention in the economy does not always (or even usually) lead to fascism.

Finally, what I am talking about is not socialism. It is a guided free market. I agree that socialism doesn"t work. That does not mean that the government should not intervene in the economy at all.
Debate Round No. 2


Daffa8799 forfeited this round.


Con forfeited.
Debate Round No. 3
1 comment has been posted on this debate.
Posted by ThewordofGod 2 years ago
My friend. Can humans be trusted to not exploit others if given the opportunity for self-gain? Everybody knows not. Can humans be trusted to look after the planets wildlife when exploiting it is so profitable? My friend, your philosophy brings death and destruction to the world.

From your computer, in I'm assuming a wealthy country, it's harder to see the downsides to free-markets. But when your luxury is built on the backs of the poorest most exploited people on earth, like the children who built your computer, your position to judge the effects of free markets is questionable.

How can you, and many like yourself, still trust profit motivated billionaires with the environment, the rights of vulnerable people and the running of our goods and services?

Have you learnt anything from the events of the last 15 years?
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