My question is: What do you believe the role of government and business is within micro and macro economies?
Government and Economics
Many economists argue that we do not live in a completely free-market economy because of government existence. But as we can see, the existence of the Black market and the current recession clearly informs us that the government really has no direct control over anything that happens within the economy and neither do businesses. Due to Globalization, I believe that an understanding is beginning to develop. That understanding is that governments are not separate from the market, but instead, have their own specific role to play. Each country acts essentially like a business. Each country's government therefore is providing a product. Some country's might offer more financial freedom. Some might offer more social freedom. Ultimately, I believe that we are beginning to see a more macro view of governments and the roles they play within the economy.