Thursday, February 20, 2014

Chapter 3: Government and the Economy

7. 
Wheelan states, "One crucial role for government in a market economy is dealing with externalities - those cases in which individuals or films engage in private behavior that has broader social consequences"(56). My view of the government was slightly altered. Evil, overpowered, ignorant: these are the words that come to mind when I hear the word "government" mentioned. Now, I have a minor change in how I view the system that rules we the people. Yes, they (the infamous they) meddle considerably in our lives ad nauseum and micro manage our lives, but they are responsible for the laws which keep us safe, advancements in social status among the world, and make decisions regarding the economical market that we cannot do as regular citizens (even if they aren't the best decisions). Concerning the root of issues, Charles Wheelan writes, "Externalities are at the root of all kinds of policy issues, from the mundane to those that literally threaten the planet"(56). The government must address these mundane or potentially world threatening issues in one way or another, and I am certainly glad I do not have to. 

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