(20%) 4. If you were leading a country, how would you handle it? What approach would...

(20%) 4. If you were leading a country, how would you handle it? What approach would you choose? What kind of economy, free, mixed, planned? What political idealogy, Democracy, Communism, etc?

It if depends, please provide details.

Please provide a convincing justification for your recommendation.

Maximum: 400 words (fewer is better).

Bullet-list format for key points preferred, if applicable.

Expert Solution

If I was leading a country I will choose a free-market condition with some government intervention in the essential sector in the economy like education, health, and infrastructure. And that country will be a democracy. The reason I choose these two systems are as follows:

A free market provides a necessary motivation in terms of profit to all the entrepreneurs in the economy to work freely and as per the demand in the nation. As the government is only concerned with facilitating that market and ensure a fair competition.
A free market also tends to bypass the people who cannot afford the market price to overcome this I will be having government intervention in the sectors of health and education and infrastructure. These are the sectors with long gestation period and important for overall well being of the people in the nation.
A democracy will allow the people to choose the best they can as per their knowledge. It rely's on the people intellect and allows them to be the master of their own future. This will make the people more responsible and aware of their nations well being.

Rahul Sunny answered 2 years ago

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