How do differing beliefs on government intervention in the economy reflect the broader political spectrum?

Differing beliefs about government intervention in the economy are a key part of the political spectrum, which ranges from liberal to conservative views. Liberals often believe that the government should play a strong role in the economy to help protect people and ensure fairness, like providing healthcare or regulating businesses to prevent harm. On the other hand, conservatives usually argue that less government involvement allows for more freedom and encourages businesses to grow, which can lead to more jobs and innovation. For example, a liberal might support raising the minimum wage to help workers, while a conservative might argue that this could hurt small businesses and lead to job losses. These differing beliefs show how people view the balance between individual freedom and the need for collective support in society.