From Mises Wiki, the global repository of classical-liberal thought
Interventionism is a form of economic policy adopted by governments in an attempt to overcome alleged flaws and excesses of free market capitalism. An interventionist government attempts to avoid moving to a completely socialist form of economic order by maintaining, at least to a certain degree, the institution of private property and the benefits of a free enterprise system. Examples of government intervention include taxes, price controls, tariffs, eminent domain laws, and monopoly control of the money supply (usually through a central bank).
See also: Intervention
- ↑ Robert Murphy. "Lessons for the Young Economist", 2010, page 255.