Fiscal Limited Government

Definition

A fiscal limited government is a system where the government's role in managing the economy and spending is minimized. This means that the government has less control over economic activities, allowing for more individual freedom and market-based decisions.

Analogy

Think of a fiscal limited government like a referee in a soccer game. The referee doesn't play or control how the players move on the field but ensures fair play by enforcing rules. Similarly, in a fiscal limited government, the state doesn't directly control economic activities but sets up laws to ensure fairness.

Related terms

Laissez-faire: An economic theory that proposes minimal interference from governments in economic affairs.

Free Market Economy: An economic system where prices are determined by unrestricted competition between privately owned businesses.

Small Government: A political ideology advocating for minimal government intervention in personal lives and economy.