FISCAL POLICY – MAIN COMPONENT OF DURABLE DEVELOPMENT STRATEGY

Iuliana Militaru ()
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Iuliana Militaru: Romanian American University in Bucharest

Romanian Economic Business Review, 2019, vol. 14, issue 1, 53-57

Abstract: Any strategy of durable (economic) development must acquit itself, first and foremost, of basic need of actually yielding economic development. For this, a mix of economic policies are needed and used, most important being fiscal policy and monetary policy: the former is needed for building up aggregate demand, the latter, for expanding aggregate supply. As for the unavoidable (potential) drawbacks – i.e., of using both of this policies at once (and some others besides) –,monetary inflation is at hand, and maybe just a little more harmful as (the need of) inflating real economy itself; for, in the end – and this is not necessarily always understood –, what any durable development strategy amounts to is ‘pilfering’ some of future’s resources for bolstering the present, with same resources.

Keywords: fiscal policy; durable development; fiscal pressure (search for similar items in EconPapers)
Date: 2019
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