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Conflicting Goals In Economic Growth
Beginning of essay
Goals of monetary policy are to "promote maximum employment, inflation
(stabilizing prices), and economic growth." If economists believe it's possible
to achieve all the goals at once, the goals are inconsistent. There are
limitations to monetary policy.
The term "maximum employment" mean ....
Middle of essay
....notably New
Zealand. Canada, the United Kingdom and Sweden also have moved in recent years
to establish monetary policy with official low inflation targets. Decisions to
adopt a policy objective of low inflation suggest that other policy-makers are
reading the evidence pertaining to inflation and growth as we are.
Consistent attempts to expand the economy beyond its potential for
production will result in higher and higher inflation, while ultimately failing
to produce lower average une.... |
| Number of words: 901 |
Approximate pages: 4 |
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