• Card 8 / 53: Explain how interventionists vie for "the best of both worlds."

    Answer:
    The interventionists want to retain a market economy with private property, but have the government selectively "intervene" in order to correct certain features they dislike. Thus, the interventionists claim they are avoiding the excesses of pure capitalism and the horrors of pure socialism. Sample Partial Credit Answer The interventionists want a mixed system that is better than capitalism and socialism.

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Interventionism: The Mixed Economy

Access: Public Peer Review

Attribution:  Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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