Week 14 Response -- Benefits of Government Involvement in the Market

[allisonmckinney]

This post is a response to the question ["In what way could government involvement in the free market be beneficial?"] (https://ecency.com/hive-101093/@joshweertman/week-14-questions-difference-between-political-and-market-enterprise) posed by @joshweertman. In my opinion, I feel that government involvement in most things is only beneficial in the tense of something harmful and/or illegal. I think that in the free market, we do need at least some form of accountability and responsibility, and this can be regulated through the government. I do also feel that the government can maybe be beneficial in the pricing of the market, as the government can create more of a uniform and lowered price of products in order to prevent a monopolized environment. I think this is the most important factor in order to create a fair market for all social classes, and also helps promote competition for producers and consumers. I think that creating equality is important in that sense that all consumers and producers can be involved in the market then. However, this can also be a negative as there will be regulation of prices which will therefore not allow the producer to set their own prices, and also this can bring taxes into play as well. It also can cause too much competition, and thus beat out the smaller, newer businesses from the market. I think that government involvement in the free market can be mostly just be utilized for ensuring also that all laws and policies are followed, and ensuring that personal property and information is protected. I personally feel that there should always be some form of government involvement in the market, just to protect everyone and keep it a safe, free market. I think that it may come with a few drawbacks, like taxes and less individual control, but it comes with more benefits in my opinion.