Significance of Public Policy

Hossein Askari (askari@gwu.edu), Zamir Iqbal and Abbas Mirakhor

Chapter Chapter 1 in Challenges in Economic and Financial Policy Formulation, 2014, pp 1-10 from Palgrave Macmillan

Abstract: Abstract In any economic system, there is a role for the state and for government policy. While the specifics of this role, its mandate, and its extent would differ from one economic system to another, a legitimate government and its policies are, at a minimum, essential for the preservation of security, social harmony, the legal system, and sustained economic prosperity. In the realm of economics and finance, the role of the state is multifaceted and can be minimal to dominant, depending on the system and societal goals.

Keywords: Market Capitalism; Economic System; Market Mechanism; Market System; Collective Interest (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-1-137-38199-6_1

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DOI: 10.1057/9781137381996_1

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