Google
Monday 
June 16, 2025 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
ADVISORY COUNCILS, FEDERAL RESERVE SYSTEM: Three support committees that provide feedback to the Board of Governors of the Federal Reserve System to assist in its assorted regulatory responsibilities, including Federal Advisory Council, Thrift Institutions Advisory Council, and Consumer Advisory Council. The Federal Advisory Council is a broad ranging council comprise of commercial bankers. The Thrift Institutions Advisory Council is comprised of representatives of thrift institutions. The Consumer Advisory Council is comprised of consumer credit representatives.

Visit the GLOSS*arama


PATERNALISM:

A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be closely supervised by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble.
Paternalism is based on the notion that the world is imperfect, that people make mistakes, that markets fail, and that individual decisions do not necessarily result in the best outcome for people or the economy.

A close philosophical alignment exists between paternalism and the liberal political philosophy. Paternalism implies that government needs to enact laws and regulations that protect the public. In practice, paternalism is usually aimed at protecting workers and consumers (of the third estate) from employers and producers (of the second estate). This paternalistic view is most evident with social regulation (to correct externalities and other market failures), industry regulation (to address the inefficiency of monopoly and market control), and stabilization policies (to correct the unemployment and inflation problems of business cycles).

<= PARTNERSHIPPAYMENT FLOW =>


Recommended Citation:

PATERNALISM, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 16, 2025].


Check Out These Related Terms...

     | nationalization | privatization | exploitation | laissez faire | central planning |


Or For A Little Background...

     | liberal | fifth rule of imperfection | command economy | free enterprise | private sector | public sector | third estate |


And For Further Study...

     | economic systems | political views | ownership and control | four estates | seven economic rules | distribution standards | government functions |


Related Websites (Will Open in New Window)...

     | Democratic National Committee |


Search Again?

Back to the WEB*pedia


APLS

PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for infected paper cuts.
Your Complete Scope

This isn't me! What am I?

The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"Be kind and merciful. Let no one ever come to you without coming away better and happier."

-- Mother Teresa of Calcutta, humanitarian

LF
Labor Force, Laissez-Faire
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2025 AmosWEB*LLC
Send comments or questions to: WebMaster