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Maintaining Legal and Social Framework

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Presentation on theme: "Maintaining Legal and Social Framework"— Presentation transcript:

1 Maintaining Legal and Social Framework
Example: Create laws and provide courts Provide information and services to help the economy function better Establish a monetary system Define & enforce property rights

2 Providing Public Goods and Services
Example: Provide goods & services that markets are unable or unwilling to provide Such as: National defense National park system

3 Maintaining Competition
Example: Create and enforce antitrust laws Regulate natural monopolies

4 Redistributing Income
Example: Higher income tax rates for rich than for poor Provide Social Security Aid dependent children with programs such as Medicare and Medicaid

5 Correcting for Externalities
Example: Money to encourage positive externalities Such as education Taxes to reduce negative externalities Such as environmental pollution

6 Stabilizing the Economy
Example: Use government budgets and/or the money supply to promote economic growth, control inflation, & reduce unemployment

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