Economic interventionism (sometimes
state interventionism) is an
economic policy perspective favoring government intervention in the market process to correct
market failures and promote the
general welfare. An
economic intervention is an action taken by a government or
international institution in a
market economy in an effort to impact the
economy beyond the basic regulation of fraud and enforcement of contracts and provision of
public goods. Economic intervention can be aimed at a variety of political or economic objectives, such as promoting economic growth, increasing employment, raising wages, raising or reducing prices, promoting income equality, managing the money supply and interest rates, increasing profits, or addressing market failures.