Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy.
Such policies are often influenced by international institutions like the International Monetary Fund or World Bank as well as political beliefs and the consequent policies of parties.
Read more about Economic Policy: Types of Economic Policy, Macroeconomic Stabilization Policy, Tools and Goals, Discretionary Policy Vs Policy Rules, Economic Policy Through History
Famous quotes containing the words economic and/or policy:
“When you overpay small people you frighten them. They know that their merits or activities entitle them to no such sums as they are receiving. As a result their boss soars out of economic into magic significance. He becomes a source of blessings rather than wages. Criticism is sacrilege, doubt is heresy.”
—Ben Hecht (1893–1964)
“Men must learn now with pity to dispense,
For policy sits above conscience.”
—William Shakespeare (1564–1616)