An economic belief is a perspective or viewpoint on how resources should be allocated and distributed within an economy. It reflects ideas about the role of government, markets, and individuals in managing economic activities.
Related terms
Free market: The belief that the economy functions best when individuals are free to make their own choices in buying and selling goods and services.
Wealth redistribution: The idea that wealth should be redistributed from the rich to the poor in order to promote social equality.
Government intervention: The notion that government should play an active role in regulating and shaping the economy to ensure fairness and protect vulnerable groups.