Notes from class

Free market and Interventionist

Free market= marked based policies

Interventionist = interventionist policies

Interventionist is the government intervening in the market/relies on government

free market - limits intervention of the government/allows private sectors-businesses to produce what they want and when they want.

Video- capitalism (free market) and socialism (interventionist)

don’t need to use political terms in economics.

Market based policies = cutting taxes, cutting regulation, cutting minimum wage, privatisations (cutting public ownership), enouraging free markets

Intervionist policies= spending on education, spending on infrastructure projects. (spending on) Research and Development subsidies.