[Answer] Why does even a free market economy need some government intervention?

Answer: to provide for things that the marketplace does not address
Why does even a free market economy need some government intervention?

Economic interventionism sometimes also called economic statism and state interventionism is an economic policy orientation favouring government intervention in the market process to correct market failures and promote the general welfare of the people. An economic intervention is an action taken by a government or international institution in a market economy in an effort to impact the economy beyond the basic regulation of fraud enforcement of contracts and provision of public goods and services. Economi…

Proponents of the concept of free market contrast it with a regulated market in which a government intervenes in supply and demand through various methods such as tariffs used to restrict trade and to protect the local economy. In an idealized free-market economy also …

Free market – Wikipedia

Economic interventionism – Wikipedia

Economic interventionism – Wikipedia

Free market – Wikipedia

Of the three both the free – market approach and public-choice theory contend that the market should be totally free meaning that any intervention by the government is necessarily bad. Public-choice theory is arguably the more radical of the two with its view closely associated with libertarianism that governments themselves are rarely good and therefore should be as minimal as possible.

It is generally associated with policies of economic liberalization including privatization deregulation globalization free trade austerity and reductions in government spending in order to increase the role of the private sector in the economy and society; however the defining features of neoliberalism in both thought and practice have been the subject of substantial scholarly debate.

Competition law is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as anti-monopoly law in China and Russia. In previous years it has been known as trade p…

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