I.B. ECONOMICS.
An educational podcast that looks at the Section 4 topic of Development, in particular at the question of ‘the balance between markets and government intervention’ (Section 4.8).
Should governments intervene a lot in markets and in that way boost or accelerate development? Or is it better for them to leave markets alone and take a ‘stand off approach’?
What happens if the government in question is corrupt? Does a corrupt government, when it intervenes in markets, hinder, or help the situation?
The following video discusses corruption, its causes, its effects, possible solutions to the problem, and the government’s role in the development process.