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:
- Medicaid, Children’s Health Insurance Program, Obamacare/ Affordable Health Care Act
- Develop 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.
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