The ideology that the government should use its power to do more than secure individual liberty and property rights. The ideology accepts that the government should promote the general welfare by supporting businesses with subsidies and tariffs and regulating businesses in order to protect consumers from poor quality products, monopolies, and economic waste. Interventionism in this form usually fails due to ignorance inherent to the human condition, as well as self-interest of politicians and regulators that obscure the public good.
Steve Horwitz - Regulation and Intervention
The Student Loan Crisis
Mark Hendrickson - Regulation and Intervention
MARCH 03, 2010 by NICHOLAS SNOW
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"What regulation and intervention do is prevent markets from discovering new ways of solving existing problems and new ways of solving new problems. When regulation erects barriers to entry or other kinds of limits on market behavior, it cuts short this discovery process, and that leads to inefficiency and waste of resources."