0
Economists emphasize efficiency in public policy because it ensures that resources are allocated in a way that maximizes societal welfare and minimizes waste. Efficient policies help achieve the best possible outcomes with limited resources, leading to improved living standards and economic growth. Additionally, efficiency can enhance fairness by ensuring that the benefits and costs of policies are distributed in a manner that reflects the preferences and needs of the population. Ultimately, efficient public policy contributes to a more productive and sustainable economy.
What else can I help you with?
Why do economists differ regarding their views on fiscal and monetary policy?
Economists differ in their views on fiscal and monetary policy due to varying theoretical frameworks, beliefs about market efficiency, and interpretations of historical data. Some emphasize the effectiveness of government intervention through fiscal policy to stimulate demand during economic downturns, while others prioritize monetary policy and the role of central banks in managing inflation and interest rates. Additionally, differing assumptions about how quickly and effectively policies take effect can lead to contrasting opinions on their appropriateness and effectiveness in different economic contexts. These ideological differences and empirical interpretations contribute to the diversity of thought in economic circles.
Some economists believe fiscal policy and monetary policy do not work very well.?
True
How can politics complicate fiscal policy?
Politicians, and the constituents they claim to represent, often have different policy objectives than economic efficiency. That is, while economists often can and have established models for optimal fiscal policies, their end goals differ from those of politicians, so policy is complicated because groups with different desired outcomes must reach a compromise policy.
What do government economists focus on?
Government economists work for federal, state, and local governments in a wide variety of positions involving analysis and policy making.
What are two reasons why economists have a reputation for giving conflicting advice to policymakers?
Economists often give conflicting advice to policy makers for two basic reasons: 1) economists may disagree about the validity of alternative positive theories about how the world works and/or 2) economists may have different values and therefore different normative views about what policy should try to accomplish
Why do economists differ regarding their views on fiscal and monetary policy?
Economists differ in their views on fiscal and monetary policy due to varying theoretical frameworks, beliefs about market efficiency, and interpretations of historical data. Some emphasize the effectiveness of government intervention through fiscal policy to stimulate demand during economic downturns, while others prioritize monetary policy and the role of central banks in managing inflation and interest rates. Additionally, differing assumptions about how quickly and effectively policies take effect can lead to contrasting opinions on their appropriateness and effectiveness in different economic contexts. These ideological differences and empirical interpretations contribute to the diversity of thought in economic circles.
What has the author A G Pool written?
A. G. Pool has written: 'Economists and social policy' -- subject(s): Economists
Some economists believe fiscal policy and monetary policy do not work very well.?
True
What has the author Christopher Leman written?
Christopher Leman has written: 'Ten commandments for policy economists' -- subject(s): Government economists
How can politics complicate fiscal policy?
Politicians, and the constituents they claim to represent, often have different policy objectives than economic efficiency. That is, while economists often can and have established models for optimal fiscal policies, their end goals differ from those of politicians, so policy is complicated because groups with different desired outcomes must reach a compromise policy.
What do government economists focus on?
Government economists work for federal, state, and local governments in a wide variety of positions involving analysis and policy making.
Congress relies on economists at the congressional budget office to?
provide independent evaluations of policy proposals
What do business economists do?
Business economists perform such tasks as forecasting the business environment, interpreting the impact of public/governmental policy on the firm, and collecting and processing data. They also supply information to management that affects decisions
What has the author Wolfram Hoppenstedt written?
Wolfram Hoppenstedt has written: 'Gerhard Colm' -- subject(s): Economic policy, Economists, Biography
What are perks of being an economist?
Economists typically enjoy job stability and competitive salaries. They have the opportunity to have a deep understanding of how economies function and influence policy decisions. Additionally, economists often have the chance to work across various industries and sectors.
Whos work is most modern fiscal policys based on?
Modern fiscal policy is based on the work of prominent economists such as John Maynard Keynes, who advocated for government intervention in the economy to promote growth and stability through fiscal measures like government spending and taxation. Other influential economists in shaping modern fiscal policy include Milton Friedman, who focused on the importance of monetary policy in stabilizing the economy.
What has the author A W Coats written?
A. W. Coats has written: 'The classical economists and economic policy' -- subject(s): Economic policy, Economics, Free enterprise, History, Laissez-faire 'Methodological Controversy in Economics: Historical Essays in Honor of T.W. Hutchison' 'The sociology and professionalization of economics' -- subject(s): Economics, Government economists, History, Sociological aspects, Sociological aspects of Economics 'Economic ideas for economic historians' 'Economists in International Agencies' 'Debates In Economic History'
