Lecture 11: Interventionism
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Interventionism is the government stepping in to regulate a capitalistic economy.
A. Definition of Interventionism
B. The Great Depression
1. Blamed on capitalism
2. Four basic myths
a. Instability of free-market economies
b. Unbridled capitalism in 1929
c. Herbert Hoover was a champion of capitalism.
d. Roosevelt's interventionism solved the Depression.
C. Social Security
D. Alternative to Social Security
E. Two basic reasons for poverty
1. External reasons
2. Internal reasons
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