what did economist charles wheelan mean when he said "good government makes a market economy possible. period. and bad government, or no government, dashes capitalism against the rocks"?

He meant that capitalism can be good or bad for a country, depending on the government that was established in the region.

Explanation:

Like communism and socialism, there are people who defend and criticize capitalism and the market economy. However, capitalism can be a blessing or a curse for a country, depending on how the government establishes it, as Charles Wheelan said.

In this case, capitalism can be associated with a double-edged sword. Whoever handles this knife must be careful, strategic and with a lot of control and competence, in addition to being intelligent and correct. The same is true for a government that wants to maintain capitalism and an efficient market economy. If the government knows how to manage capitalism well, the market economy will be very promising, however, if the government does not achieve this feat, it will be throwing capitalism on the rocks.

Good government can build cities, protect endangered species, install traffic lights, cause industries to arise and grow, create jobs, build businesses etc. Government has the potential to enhance the productive capacity of the economy and make it much better off as a result. As for bad govenance impacts the growth of the city, causes corruption, wealth goes to a few and very little development in the country.