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Government Intervention

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It is in my opinion that government intervention, though necessary in certain circumstances, should be largely limited to its role in protecting property rights, upholding the rule of law, and maintaining the value of the currency. The market itself is best at deciding how and when to manufacture its goods and it is unnecessary for the government to step in to try and improve the efficiency of the economy. One should look to the entrepreneurial creativity of millions who are willing to risk their own resources and reputations in order to progress our country. Before you place your trust in such entrepreneurs however, you should gain an understanding of the differences between political and market entrepreneurship as well as how government subsidies can undermine our economy in such a deceitful manner.
Before one forms an opinion on entrepreneurship, or on the big business tycoons who end up being dubbed as “robber barons,” you should understand the difference between the two types of entrepreneurs. You have the political entrepreneurs, who fit the classic mold of a robber baron, and who are commonly corrupt in the way they manage business. They take government aid, also known as a subsidy in this case, and have a propensity to waste the money, as it wasn’t theirs to begin with. They are not concerned with making a sound product, but with making as much profit as possible and getting the job done quickly, though not always efficiently. Furthermore, you have the market entrepreneurs who take little to no government aid and conduct business in an efficient manner. They are calculated risk takers who may take smaller steps towards their goal, but in doing this they learn how to do the work more efficiently, both time and cost wise. We...

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...the higher-income people will pay for it at full market price, the government intervenes once again upon the economy.
Once one realizes that not all entrepreneurs are robber barons, but can be charitable, ambitious citizens, you will be better able to conclude what your opinion is on entrepreneurship as a whole. Whether you believe in the government jump-starting the economy with subsidies or in the power of the individual to compete in the market for themselves, it should be duly noted that the power of entrepreneurship is vast and full of determination. It should also be recognized that bailouts and subsidies can be detrimental if managed improperly. Government favoritism is not equitable to the smaller, private businesses who very well may be providing the superior merchandise but aren’t as publicized as the business that is receiving the subsidies.
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