POLS 3130 Chapter 2: UP - Chapter 2.pdf

• School: University of Guelph
• Department: Political Science
• Course: POLS 3130
• Professor: Dennis Baker

Document Summary

Chapter 2 (hale) the role of government in the economy: economic. Purpose of economic policies: foster conditions that enhance the economic well- being of individual citizens and the broader society. Public policies most effective in promoting increased prosperity by providing stable and adaptable framework of rules that enable individuals, business and other organizations to pursue economic well-being in ways that contribute directly/indirectly to collective well-being of society. Successful economic policies involve a multi-dimensional balancing act. Seek to promote overall economic growth while ensuring vast majority of citizens have opportunity to share (directly/indirectly) in benefits of growth. Organization of government of geographic concentration of industry may shift focus of policy-making to emphasize sectoral or regional effects. Debated on both normative and empirical grounds. Govs are encouraged to facilitate structural changes in economic environment because: large-scale technological change, changes in forms of business organization, trends towards continental and global economic integration.