Economic essays

Economic liberalism opposes government intervention on the grounds that the state often serves dominant business interests, distorting the market to their favor and thus leading to inefficient outcomes. [ citation needed ] Ordoliberalism and various schools of social liberalism based on classical liberalism include a broader role for the state, but do not seek to replace private enterprise and the free-market with public enterprise and economic planning. [4] [5] For example, a social market economy is a largely free-market economy based on a free price system and private property , but is supportive of government activity to promote competitive markets and social welfare programs to address social inequalities that result from free-market outcomes. [4] [5] Economic liberalism also includes support for equality of opportunity (also known as social mobility ), due to the belief that a lack of equality of opportunity will lead to an increase in private monopoly and therefore infringed liberty of individuals. [ citation needed ]

Economic essays

economic essays

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