May 2024
Intermediate to advanced
688 pages
51h 31m
English
Content preview from Business Environment, 1st Edition by Pearson
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Chapter 18: Role of the State in Economic Development | 215 |
THE JUSTIFICATION AND EXAMPLES
OF GOVERNMENT INTERVENTION
Today, governmental intervention has become an accepted phe-
nomenon. Even in the United States and the United Kingdom,
where free-enterprise has much more signifi cant presence than
in other countries, the governments occupy and assume impor-
tant and pivotal roles in economic development. “More business
in Government, less Government in business, a popular slogan
among American enterprisers, was seldom heard during the Great
Depression, when businessmen were quite willing to accept Gov-
ernment aid in the form of favourable legislation in order to save
their business.”
2
As Arthur Lewis pointed out, “No country has ...
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