Tools and Goals
Policy is generally directed to achieve particular objectives, like targets for inflation, unemployment, or economic growth. Sometimes other objectives, like military spending or nationalization are important.
These are referred to as the policy goals: the outcomes which the economic policy aims to achieve.
To achieve these goals, governments use policy tools which are under the control of the government. These generally include the interest rate and money supply, tax and government spending, tariffs, exchange rates, labor market regulations, and many other aspects of government.
Read more about this topic: Economic Policy
Famous quotes containing the words tools and/or goals:
“The study of tools as well as of books should have a place in the public schools. Tools, machinery, and the implements of the farm should be made familiar to every boy, and suitable industrial education should be furnished for every girl.”
—Rutherford Birchard Hayes (1822–1893)
“Our ego ideal is precious to us because it repairs a loss of our earlier childhood, the loss of our image of self as perfect and whole, the loss of a major portion of our infantile, limitless, ain’t-I-wonderful narcissism which we had to give up in the face of compelling reality. Modified and reshaped into ethical goals and moral standards and a vision of what at our finest we might be, our dream of perfection lives on—our lost narcissism lives on—in our ego ideal.”
—Judith Viorst (20th century)