Government Intervention In The Socialist-Based Economy

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The overall theme of both sources is how much should government intervene in the economy. The message of the first source is that the government shouldn't intervene in the economy. The overall message is source 2 is that the author is willing to pay high taxes . The fundamental difference between capitalism and socialism is the scope of government intervention in the economy. The capitalist economic model allows free market conditions to drive innovation and wealth creation; this liberalization of market forces allows for the freedom of choice, resulting in either success or failure. The socialist-based economy incorporates elements of centralized economic planning, utilized to ensure conformity and to encourage equality of opportunity and

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