The Nature and Scope of Economic Policy

The objective of this chapter is to develop both the basic context in which the concept of policy in economics ultimately has meaning and the fundamental issues and problems of economic policy which comprise the substance of that meaning. In effect, then, the author will attempt an answer to this question: what are the basic problems of what has come to be called the ‘theory of economic policy’? That is to say, what is ultimately involved in a theory of economic policy? These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.