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Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.
Almost every aspect of government has an important economic component. A few examples of the kinds of economic policies that exist include: [1] Macroeconomic stabilization policy, which attempts to keep the money supply growing at a rate that does not result in excessive inflation, and attempts to smooth out the business cycle.
In addition to addressing environmental concerns associated with climate change, the Green New Deal aims to "fix societal problems like economic inequality and racial injustice" [100] by ensuring that everyone has access to education, clean water, and employment with benefits. [101] It also strives to make every building energy efficient.
Some criticize industrial policy based on the concept of government failure.Industrial policy is seen as harmful as governments lack the required information, capabilities, and incentives to successfully determine whether the benefits of promoting certain sectors above others exceeds the costs and in turn implement the policies. [29]
Clinton's economic approach entailed modernization of the federal government, making it more enterprise-friendly while dispensing greater authority to state and local governments. The ultimate goal involved rendering the American government smaller, less wasteful, and more agile in light of a newly globalized era. [3]
The government and industry groups favour a broader trade and investment pact with the United States to help Indian manufacturers integrate into global supply chains while retaining policy ...
"The economic aims are to stabilize growth and prevent deflation from tightening its grip," he wrote in the Financial Times. "The market goal is to restore enough confidence so that equity prices ...
Seguino and Heintz Seguino concludes that the impact of a one percentage point increase in the federal funds rate relative to white and black women's unemployment is 0.015 and 0.043, respectively [26] One growing understanding in economic development is the promotion of regional clusters and a thriving metropolitan economy.