Is government intervention necessary in economic crisis?

[goringgap]

As soon as the economic crisis dawned upon us, industries and other businesses alike started shouting for government doles. Are such demands fair and necessary? Let’s discuss this burning issue in a prudent manner

Please post your reviews about the topic!!

[kbirley]

The government intervention in housing sector, banking and other liquidity based sectors is inevitable. Banks are howling to the central bank for deeper rate cuts. If government does not give help, these sectors can continue to suffer in the future, due to low cash and lower spending. Government stimulus is necessary to improve the market sentiment and also infuse liquidity so that businesses have enough cash for daily consumption and expansion. Government intervention is imperative for the businesses to continue growing.

The government has the cash and resources to get back the economy back on track and they should take all necessary measures to do that.

[Pchukka]

Okay, so while everything was good and hunky-dory government intervention was hated, but when the bad times have come, businesses are suddenly changing their capitalistic flags to a socialistic one. Asking government for doles, when their own mistakes have caused the crisis is shameful. Capitalist ideology has always been a proponent of crime and punishment. That is, if you perform, you are rewarded or you are punished. But suddenly that ideology has been thrown in the air. When the corporates felt the heat of their mistakes they started begging for stimulus packages. All around several businesses have survived the crisis due to their good policies. It’s time government stops the packages and let market take its own care. For how long they wil behave like arm chaired businesses needing a push now and then. The money should be invested in infrastructure development and poverty degradation. Hand outs to businesses should be stopped immediately, because it sends out a message that even bad performers get rewarded.

Therefore, I think government intervention is unnecessary.

[doublea]

Hello @above,

Though I partially agree with your thoughts, I think it is imperative that government intervenes to save millions of jobs. If government does that, the market sentiment will keep degrading, causing an avalanche effect, which may cost another million jobs. So whatever the ideological differences are, the government needs to intervene to save he jobs.

Moreover what appears to be a cash dole is more comprehensive than that. The economic package aims to redistribute wealth in both hands of he manufacturer and consumer so that the cycle of supply and demand can be maintained. However the challenge is to maintain accountability of the money spend and proper governance to do it effectively.

But again I agree that corpote should take responsibility for the mess they have created. While the government is at it, it should also demand better corporate governance, transparency and accountability. The government should ask businesses to reduce costs, without rolling out heads. The government should eke out a deal from the corporate so that the economy becomes self healing in the future.

And also it does not make sense for our government to be stay back, when at the global level economic packages are flying around. It will only degrade our competitiveness in an already tough market.

Waiting for comments!

[Ronald]

My point is that in whichever way Government intervenes, they should not interfere in the company policies. In some case, Government asks for change of policies after they help a company from complete meltdown. Again, it should be given to all. I believed US Government helped out AIG, where they should have also taken care of Lehmann Bros. If they cannot help all of em, they should not come ahead for any one of em.

[syncCuppy]

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[zmonique2007]

Sadly, with the passage of time, it seems that the capacity as well as the capability of governments to continue undertaking all these endless rescue plans and packages is declining significantly.

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[David Morson]

Govt.'s Intervention is crucial in economic crisis as without it masses and the country can't escape form crisis and it is the Government which is responsible for controlling the crisis.