Advising New Government Leaders Suppose that a country experiences a change in government… 1 answer below »
Advising New Government Leaders
Suppose that a country experiences a change in government leadership. Prior to this change, the country had a centrally planned economy. The new leaders are willing to try a different system if they can be can be convinced that it will yield better results. They hire an economist from a country with a market economy to advise them and will order their citizens to follow the economist’s recommendations for change. The economist suggests that a market economy replace central planning to answer the nation’s economic questions (what, how, and who?).c
Answer the following questions:
Are there reasons why the leaders of this country might not accept the economist’s suggestions? Briefly explain. (13 marks)