Answer to Question #229754 in Macroeconomics for Adnan

Question

Is conventional fiscal policy needs revisiting? Read the artical rethinking fiscal policy and discuss the issues?

Answer 1

Conventional fiscal policy needs to be revised because of many reasons.

Due to changing and dynamic economies conventional fiscal policies do not provide latest solutions to the economic problems that arise every single day.

Revisiting the conventional fiscal policy with the aim of inculcating relevant changes will help in the transformation of the world economies.

Revising of the conventional policy will and indeed can advance holistic and inclusive development in all the world economies.

Adoption of new fiscal policies can shape the right and economical spending of a country's resources and influence greatly revenue choices for the governments which are more economical and not harmful to the growing economies.

It is worth to note that effective fiscal policy implementation will always depend on the government and not on the policy makers.