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5 Cards in this Set

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  • Back
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mixed economy
applied to contemporary american system.
pg. 248
government regulation--Pro
cleaner air, safer cars, fewer dangerous drugs, increased fairness for minorities, saferworkplace.
pg. 2484
government regulation--Con
directly controlling some dimensions of economy. (ex: public utility).
indirectly controlling matters (child labor, zoning restriction, antitrust activity to preserve American's conception of afree, efficient marketplace)
pg. 284
critic view on government regulation
not yet achieved is job.
to achieve, cost will exceed from benefit
pg. 284
govenment intervention---in theory
is a free enterprise economy would be justified only when the market is unable to serve the public interest (in instances of market failure)
pg. 285