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Write a 2 page essay on Reconstruction of Rebecca Blank's article and conclude with reflection.Economically markets are not effective, and, therefore, the government comes in to do what the market can
Write a 2 page essay on Reconstruction of Rebecca Blank's article and conclude with reflection.
Economically markets are not effective, and, therefore, the government comes in to do what the market cannot do, but the society demands. She supports her argument by stating that governments are established to determine and enforce rules in the economy. She uses the standard economic theory that states that markets need more than rules to support her case. These are some of the cases that cannot function with rules alone: market failure due to incomplete information, the presence of monopoly power, presence of externalities and presence of public goods. She states that market failures exist, and that government can correct it but also a line must be drawn between the useful and wasteful government activities to reduce the frequency of the market failure (Rod).
From the political point of view, the government redistributes resources from those with more to those with less by taxation. It limits some activities in the market to promote equality and justice. It also regulates the use of public goods by investing in externalities, for example, public schools.
In the Christian perspective, Rebecca argues that the bible provides guidelines, but humans have to use their minds and heart when faced with ethical and behavioral questions. The bible sets standards for the humans and the government to limit their behavior regulates them and redistributes resources. She claims that the bible advocates for value and dignity for humans. Humans should respect each other and see each other as their neighbor (Rod).
A neighbor in the bible does not mean the immediate person but everyone. A person should not be discriminated because of their culture, religion, color or gender. It advocates for people to be able to differentiate between good and bad and also show concern for the poor. Therefore, they should be concerned with the injustice in the market, value and support the government in the redistribution to address injustice and inequality,
