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Introduction People believe that development of society is possible when every member of this society follows some stated rules.
The scenario is as follows: John is having a drink at a local bar and starts talking with David. After a few hours, John takes a dollar bill out of his pocket, rips it in half, and gives the other half to David.
The issue of the federal government involvement in state/local government is one of the most controversial questions nowadays. It is reasonable to analyze the arguments of both parties and make the overall conclusion.
Corruption is the core source of poverty and economic encumbrance in developing nations. It is a barrier to economic progress and stability in the developing nations. This is through discouraging investments and increasing production costs.
Government intervention in the economy happens mainly due to market failure. The government embarks on the task of remedying such situation. It is also for the purpose of achieving even-handed allocation of income and wealth and for ensuring that the economy's performance improves consistently.