Categorize the actions according to whether Hayek would be likely to agree or disagree with them

Economist Friedrich August Hayek propagated and believed in free market and private investment. His economic model revolved around private entrepreneurship and capitalism.

Hayek advocated against government intervention. Therefore, he would most likely agree to private investment and private enhancement and disagree to governmental initiatives or interventions.

Agree: eliminate the minimum wage, decrease overall taxes, reduce import taxes on goods imported into the U.S. from japan, let prices naturally increase as resources become scarce.

Disagree: Increase government spending during economic turndowns to improve the economy, increase the money supply, pass a law requiring stricter emission standards for all cars, limit the price of gasoline, government creates jobs to employ the unemployed, government pays for all levels of education for every citizen.

MM5iveee MM5iveee · Answer 2 · 2021-03-02T21:09:07+01:00

Answer:

Agree: eliminate the minimum wage,

- decrease overall taxes

- reduce import taxes on goods imported into the U.S. from japan

- let prices naturally increase as resources become scarce.

Disagree: Increase government spending during economic turndowns to improve the economy

- increase the money supply, pass a law requiring stricter emission standards for all cars,

- limit the price of gasoline,

- government creates jobs to employ the unemployed,

- government pays for all levels of education for every citizen.

Explanation: edmentum