What is the theory of market economies and why does it emphasize freedom of choice and limited government intervention?

  

The theory of market economies emphasizes freedom of choice and limited government intervention. The classic argument for government intervention is market failure – the inability of the market economy to correct itself from a dysfunctional state (such as the Great Depression).Examine one case of significant government intervention as it relates to your current industry of employment or an industry in which you are interested in working. Examples of intervention programs include, but are not limited to:US agriculture support programsLow income support programs (Food Stamps, Earned Income Tax Credit, Child Tax Credit, and Temporary Assistance to Needy Families)Medicaid, Children’s Health Insurance Program, ObamacareLow income rent controls and housing vouchersGovernment promoting renewable energy sources, discouraging fossil fuel sourcesDevelop a 16-slide presentation including detailed speaker notes or voiceover including the following:Describe the intervention and detail its history.Analyze the arguments for government intervention as opposed to arguments for market-based solutions.Examine who may be helped and who may be hurt by the selected government intervention.Examine externalities and/or unintended consequences of such intervention.Determine the cost trend of the intervention program since its implementation.Evaluate the success or failure of the intervention in achieving its objectives and develop conclusions.Defend the use of or discontinuation of the selected intervention.Note: The use of tables and/or charts to display economic data over the time period discussed is highly encouraged.Cite a minimum of three scholarly references.Format the assignment consistent with APA guidelines.MY CURRENT INDUSTRY IS LAW ENFORCEMENT. GOVERNMENT INTERVENTION CAN INCLUDE SECTION 8 OR WELFARE/FOODSTAMPS. THIS CAN BE USED TO COMPLETE THE POWERPOINT

Introduction:
Government intervention has always been a topic of debate in market economies. While the theory emphasizes the importance of freedom of choice and limited government involvement, it also recognizes the likelihood of market failure. In case of a dysfunctional state, the government can intervene. This intervention can be in the form of several programs such as US agriculture support programs, low-income support programs, rent controls, and housing vouchers. In this presentation, we will examine one such case of significant government intervention in the context of law enforcement.

Don't use plagiarized sources. Get Your Custom Essay on
What is the theory of market economies and why does it emphasize freedom of choice and limited government intervention?
Just from $13/Page
Order Essay

Description:
Law enforcement is an essential aspect of maintaining peace and order in society. However, it can be argued that the government does not always provide adequate support to ensure the smooth functioning of this sector. One example of government intervention in this sector is the assistance provided through low-income support programs such as Section 8 or welfare/foodstamps. This program provides financial assistance to low-income households that struggle to make ends meet. In this presentation, we will examine the impact of this intervention on the law enforcement sector.

Headings:
1. The Intervention and its History
2. Arguments for Government Intervention vs Market-Based Solutions
3. Beneficiaries and Detractors of the Intervention
4. Externalities and Unintended Consequences
5. Cost Trend of Intervention Program
6. Success or Failure of the Intervention
7. Conclusion: Defending the Use or Discontinuation of the Intervention

Objectives:

– To understand the theory of market economies and the role of limited government intervention
– To examine the case of government intervention in the law enforcement industry through Section 8 or welfare/food stamps programs
– To analyze the arguments for and against government intervention in the law enforcement industry
– To evaluate the success or failure of the intervention in achieving its objectives and develop conclusions
– To defend the use of or discontinuation of the selected intervention in the law enforcement industry

Learning outcomes:

By the end of this presentation, learners will be able to:

– Explain the theory of market economies and its emphasis on freedom of choice and limited government intervention
– Describe the history and purpose of Section 8 or welfare/food stamps programs in the law enforcement industry
– Analyze the arguments for government intervention in the law enforcement industry, including its potential benefits and drawbacks
– Assess the impact of the selected government intervention on different stakeholders, including those who may be helped and those who may be hurt
– Identify externalities and unintended consequences of the selected government intervention in the law enforcement industry
– Evaluate the cost trend of the intervention program since its implementation and its impact on the economy
– Assess the success or failure of the intervention in achieving its objectives and draw conclusions based on the evidence presented
– Defend the use of or discontinuation of the selected intervention in the law enforcement industry based on the analysis and evaluation presented
– Create and format a presentation according to APA guidelines and cite scholarly references to support arguments made.

Headings:

– Introduction: Theory of market economies and government intervention
– Section 8 and welfare/food stamps programs in the law enforcement industry
– Arguments for government intervention in the law enforcement industry
– Impact on stakeholders: Who may be helped and who may be hurt?
– Externalities and unintended consequences of the intervention
– Cost trend analysis of the intervention program
– Success or failure: Evaluating the effectiveness of the intervention
– Defending the use of or discontinuation of the intervention in the law enforcement industry
– Conclusion: Key takeaways and implications for the industry

Solution 1: Analyzing the Effects of Welfare and Food Stamps in Law Enforcement

Introduction:
The government intervention programs of welfare and food stamps have been a vital part of the government’s plan to combat poverty. In this presentation, we will discuss how these programs have impacted the Law Enforcement industry.

Description of Intervention:
Welfare and food stamp programs were first introduced in the U.S. in the 1930s as part of the New Deal program. The programs aimed to help individuals and families who were struggling financially. Today, these programs are administered by the Department of Health and Human Services, and they provide assistance in various forms, such as financial support, housing assistance, and food vouchers.

Arguments for Government Intervention:
Supporters of government intervention argue that these programs are necessary for addressing poverty and reducing inequality. They also argue that these programs help people become more self-sufficient by supporting them during difficult times.

Who may be helped and hurt:
The Law Enforcement industry may benefit from the welfare and food stamp programs since these programs help alleviate poverty-related crimes. On the other hand, taxpayers who pay for these programs may be hurt since welfare and food stamps rely on government funding.

Externalities and Unintended Consequences:
One possible externality is that welfare and food stamps may discourage work since beneficiaries may lose benefits if they start earning an income. Unintended consequences may include fraud, misuse of benefits, and disincentivizing work.

Cost Trend of the Intervention Program:
From 2000 to 2020, government spending on welfare and food stamp programs has seen a steady increase, with slight fluctuations.

Evaluation of Success or Failure:
The success or failure of these programs can be measured by their impact on poverty rates. While the programs have certainly helped to alleviate poverty for some, they have not been as effective in reducing overall poverty rates. Furthermore, welfare fraud and program misuse highlight the need for continued program evaluation.

Defending Use or Discontinuation of the Intervention:
The continued use of the welfare and food stamp programs is necessary since these programs help alleviate poverty. However, there is a need for better evaluations and fraud prevention measures.

Solution 2: The Effects of Section 8 on Law Enforcement

Introduction:
Section 8 is a housing assistance program that provides vouchers to low-income individuals and families. In this presentation, we will examine the impact of this intervention in the Law Enforcement industry.

Description of Intervention:
Section 8 was established in 1974 as part of the Housing and Community Development Act. The aim of the program is to provide affordable housing for low-income individuals and families. It is administered by the Department of Housing and Urban Development.

Arguments for Government Intervention:
Supporters of Section 8 argue that the program helps to reduce homelessness and provide affordable housing for low-income individuals and families.

Who may be helped and hurt:
The Law Enforcement industry may benefit from Section 8 since affordable housing can help combat crime. On the other hand, taxpayers may be hurt since the program relies on government funding.

Externalities and Unintended Consequences:
One possible externality is that Section 8 may lead to segregation and concentrated poverty. Unintended consequences may include landlords discriminating against Section 8 tenants and difficulties in finding affordable housing due to insufficient housing inventory.

Cost Trend of the Intervention Program:
From 2000 to 2020, government spending on Section 8 has remained relatively stable, with slight increases.

Evaluation of Success or Failure:
The success or failure of Section 8 can be measured by its impact on housing affordability and homelessness rates. While the program has certainly helped to provide affordable housing for low-income individuals, it has not been as effective in reducing homelessness. Furthermore, discrimination against Section 8 tenants highlights the need for continued program evaluation.

Defending Use or Discontinuation of the Intervention:
The continued use of Section 8 is necessary since the program provides affordable housing for low-income individuals. However, there is a need for better evaluations and measures to address discrimination against Section 8 tenants.

Suggested Resources/Books:

1. “Economics” by Paul Samuelson and William Nordhaus
2. “Public Finance and Public Policy” by Jonathan Gruber
3. “Government and Markets: Toward a New Theory of Regulation” by Edward J. Balleisen
4. “The Economics of Public Issues” by Roger LeRoy Miller and Daniel K. Benjamin
5. “The Economics of Regulation and Antitrust” by W. Kip Viscusi, John M. Vernon, and Joseph E. Harrington Jr.

Similar Asked Questions:

1. What is the theory of market economies?
2. What is market failure?
3. What are examples of government intervention programs?
4. What are the arguments for government intervention?
5. What are the externalities and unintended consequences of government intervention?

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
× How can I help you?