Proposal for a Governed Economy

Tim Hazledine

Chapter 12 in Full Employment without Inflation, 1984, pp 93-101 from Palgrave Macmillan

Abstract: Abstract This is the third of three chapters concerned with building a foundation of principles on which successful economic policies can be built. In chapter 10, it was argued that policies should be ‘appropriate’— that is, the policy-making institution, its goals, and its policy instruments must all be on the same ‘level’ in the economy. This implies that national governments should confine themselves to high-level instruments and goals. Examples of the latter are easy enough to identify. Appropriate and important goals are: full employment, price stability, and the productive use of all the economy’s resources. These are the ‘big numbers’ that we all wish to add-up better.

Keywords: Fiscal Policy; Policy Instrument; Limited Liability; Full Employment; Balance Budget (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17697-7_12

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DOI: 10.1007/978-1-349-17697-7_12

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