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Contractionary fiscal policy, on the other hand, is a measure to increase tax rates and decrease government spending. It occurs when government deficit spending is lower than usual. This has the potential to slow economic growth if inflation, which was caused by a significant increase in aggregate demand and the supply of money, is excessive.
Market decentralization can be done through privatization of public owned functions and businesses, as described briefly above. But it also is done through deregulation, the abolition of restrictions on businesses competing with government services, for example, postal services, schools, garbage collection. Even as private companies and ...
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
"Donald Trump will be a tyrant!" So my neighbors claim. I live in Manhattan. Feel for me. Yes, Trump says wild things, like riffing about "terminating" parts of the U.S. Constitution.
Examples of government failure include regulatory capture and regulatory arbitrage. Government failure may arise because of unanticipated consequences of a government intervention, or because an inefficient outcome is more politically feasible than a Pareto improvement to it. Government failure can be on both the demand side and the supply side.
Democratic backsliding [a] or autocratization is a process of regime change toward autocracy in which the exercise of political power becomes more arbitrary and repressive. [7] [8] [9] The process typically restricts the space for public contest and political participation in the process of government selection.
A failed state is a state that has lost its ability to fulfill fundamental security and development functions, lacking effective control over its territory and borders. . Common characteristics of a failed state include a government incapable of tax collection, law enforcement, security assurance, territorial control, political or civil office staffing, and infrastructure maintenan
When you left the federal government office, then all of your accounts had to be audited, and you had to reconcile your accounts. Swartwout’s accounts came up short more than $1 million, which ...