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Questions and Answers
Neoliberalism advocates for reducing state ______
intervention
The Washington Consensus policies entail a much more circumscribed role for the ______
state
The Great Depression challenged the effectiveness of the laissez-faire especially in the midst of the economic downfall of this ______
period
The developmental state should be politically ______ but should not be understood as authoritarianism akin to the experience of SEA nations
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For neoliberals, the state is responsible for: 1.Provision of public goods and services 2.Taxation 3.Law and order 4.Enforcement of social contracts 5.Protection of people against ______ 6.Provision of a stable environment to enable consumers to interact freely in the market 7.Rectify market failure (Philip Lewis) >< limited states intervention even in times ______
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As producer of goods and services 2.As regulator of the system 3.As supplier of public goods, social goods (welfare provider) Is influenced by a number of factors 1.Differences between the interests of those who govern and those who are governed 2.Mistakes and misconceptions on the part of policymakers 3.Inadequate controls on the part of policy makers over the policy instruments 4.Unintended effects or consequences of policy instruments 5.Residual effects of past decisions For neoliberals, the state is responsible for: 1.Provision of public goods and services 2.Taxation 3.Law and order 4.Enforcement of social contracts 5.Protection of people against invaders 6.Provision of a stable environment to enable consumers to interact freely in the market 7.Rectify market failure (Philip Lewis) >< limited states intervention even in times ______
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Principal-agent: state and business actors Agency: who decides Structural positions Unintended consequences: positive and negative consequences a.Rational Actor Theory, you get what you want so you aim for the best i.However it doesn't always work ______
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Adam Smith is known as the 'Father of ______'
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Laissez-faire refers to an economic philosophy where the government has minimal interference or control in business and ______ activities
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John Maynard Keynes is dubbed the 'father of ______'
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