Role of Government: Free Market System, Command System, and mixed economy

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Economic development is realized to be one of the most important objectives for the countries. However, success of economic growth and development can be identified by various resources and economic capabilities of the country, it should be highlighted that the role of governments within economic development programs can be would be determining success or failure of the entire program (Goyal & Goyal, 2009). The differences of economic systems would be leading to variations within governments’ role. The benefits and costs of governments’ interventions should be assessed for ensuring limiting of costs and maximization of the advantages. However, intervention and the controlling of governments in economic systems may lead to various restrictions within economic transactions and activities, one of the main advantages can be based on development of national production and enhancement of specific sectors within national industries. Governments can be effectively controlling the foreign interventions and transactions for the purpose of the protection of national production and local industries, based on the impacts of local production of national economic stability and public wellbeing (Gildenhuys, 2004). The study of role of governments within different economies is considered to be essential for analyzing and assessment of best approaches of interventions, which can be followed by governments, regarding the various national conditions and resources. The following paper would be highlighting the main variations within governmental role within the interventions and the development of the governmental control over the economic systems.
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Role of Government: Free Market System, Command System, an
Role of Government: Free Market System, Command System, an
Role of Government: Free Market System, Command System, an
Role of Government: Free Market System, Command System, an
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