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- ISSN: 2010-0248 (Print)
- Abbreviated Title: Int. J. Innov. Manag. Technol.
- Frequency: Quarterly
- DOI: 10.18178/IJIMT
- Editor-in-Chief: Prof. Jin Wang
- Managing Editor: Ms. Nancy Y. Liu
- Abstracting/ Indexing: Google Scholar, CNKI, Ulrich's Periodicals Directory, Crossref, Electronic Journals Library.
E-mail: editor@ijimt.org
- Article Processing Charge: 500 USD
IJIMT 2017 Vol.8(4): 293-298 ISSN: 2010-0248
doi: 10.18178/ijimt.2017.8.4.744
doi: 10.18178/ijimt.2017.8.4.744
The Role of Government to Create “Effective Freedom” — The Fundament for Economic Development
Vakhtang Chkareuli
Abstract—
Fundamentally, there are only two ways of
coordinating the economic activities of millions. One is central
direction involving the use of coercion, so called the technique of
the army and of the modern totalitarian state. The other is
voluntary co-operation of individuals - the technique of the
market place. As Milton Friedman, has mentioned in his public
speeches, the government solution to a problem is usually as bad
as the problem and very often makes a problem worse. In this
paper, we are going to discuss the role of government to create a
framework for the whole economy so that economic agents can
benefit the most.
Index Terms— Economic freedom, economic freedom index, economic growth, government.
Vakhtang Chkareuli is with the Shota Rustaveli National Science Foundation of Georgia, Georgia (e-mail: vakhtangchkareuli@gmail.com).
Index Terms— Economic freedom, economic freedom index, economic growth, government.
Vakhtang Chkareuli is with the Shota Rustaveli National Science Foundation of Georgia, Georgia (e-mail: vakhtangchkareuli@gmail.com).
Cite: Vakhtang Chkareuli, " The Role of Government to Create “Effective Freedom” — The Fundament for Economic Development," International Journal of Innovation, Management and Technology vol. 8, no. 4, pp. 293-298, 2017.