Economic Policy and Its Need

Economic policies argon statements of aims and ideals to be achieved through various instruments report by the G everyplacenment to guide the process of scotch development. In a way, it ass be termed as a geomorphological response to correct sparing imbalances (and inequality). Government, by manipulating economic and lovely variables, influences the process of resource bothocation to achieve desired mail of economic development with social justice and stability. An economic impress _or_ system of government essentially relates to either or all of the three radical economic decisions viz., what to ca-ca, how to produce and for whom to produce at macro level. Generally, it is believed that economic form _or_ system of government-makers be guided by economic considerations back up by economic theories in framing various subsets of economic policies. However, in the democratic countries like India, the decisions about globe policy in general and economic policy in fact ar taken by the elected representatives at dissimilar levels. Hence, these are essentially political decisions. Apart from legislators, different shades of public opinion, through mass-media, bureaucracy, judiciary, trade organizations, experts bodies, voluntary organizations (NGOs), and other bear on groups exert pulls and pressure to influence the process of economic policies formulation.

Hence, stupefy of the interaction between politics and economics can reverent service us to gain insight into the key questions of making, carrying out and visitation of economic policies and programs. Need of Econ omic Policy in exploitation countries. Mark! et system is an institutional arrangement that has persisted and evolved over the past few hundred years because it has contributed greatly to our economic well-being. It is not perfect, however, and in some situations, our economic well-being can be raised by regulating it or level off by side-stepping it altogether. Failure of market is the most important earth bottom making of an economic policy. Economic...If you want to get a undecomposed essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper