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Are there any circumstances under which society could exist without law?
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- Why couldn't an economy function without government intervention?In a market system, provide an example for when government can enhance or harm any of the processes involved in terms of what should be produced, how it should be produced, and for whom.Is either the capitalist economic model or the socialist economic model preferable from a moral point of view?
- What are the different effects of MARKET FAILURE on humans, society, and the economy? Give at least five of each factor.To what extent should government influence the economy of a democracy such as the United States?Is “fairness” the economic basis for government laws and regulations designed to remedy market failures? If so, why; if not, what is the economic basis?
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