Government's Role in Economic Development

I believe that government should play a supervising role in regards to economic development. In terms of supervising, I mean that the government should not exceedingly interfere with the free market dynamics of our capitalistic economy. It should however oversee and regulate commerce to create a fair and balanced environment for businesses and organizations to thrive. Without oversight, businesses can become domineering, especially if one corporation is much larger compared to the rest of the industry competition. Examples of these types of monopolies are utility companies or corporations that specialize in a particular niche market. A proper government should preside over the economy similar to a teacher keeps an eye on his or her students. A good government gives guidance and support, and lets the economy have enough freedom to learn and grow. There is always the possibility of some bad apples in the economy and as such, those corrupt companies should be reprimanded. However, they should be given a chance to change, not only for fairness and equality, but also for setting a positive example for the economy as a whole. Thus, with the right mix of non-interference and oversight, a government’s role as a controller for the entire state of an economy can work purposefully and assume a valuable role.