Charles Wheelan, a proponent of Keynesian Economics, believes that markets should be allowed to work themselves out without government intervention. However, this doesn't mean he completely negates the role of government.
In his view, the government's role is not to regulate the strengths and weaknesses of businesses directly, but to create an environment where markets can function efficiently and fairly. This includes maintaining law and order, enforcing contracts, providing public goods and services, and addressing market failures.
He also acknowledges the role of institutions like the Federal Reserve in managing the economy, which indirectly affects businesses.
So, while Wheelan advocates for less government intervention in business, he recognizes the importance of government in creating a conducive environment for businesses to thrive.
Economics can be intimidating to the person who is not well-versed in business and mathematics. This...
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