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 besetting sin of able men is impatience of contradiction and of criticism. Even those who do their best to resist the temptation, yield to it almost unconsciously and become the tools of toadies and flatterers. “Authorities,” “disciples,” and “schools” are the curse of science and do more to interfere with the work of the scientific spirit than all its enemies.”
—Thomas Henry Huxley (1825–95)
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—Nadine Gordimer (b. 1923)