Explain the policy making process, what it entails and how they are interlinked? Furthermore, elaborate on how public policy and planning can assist in development?
Policy making process entails the following steps;
Public policy is important in stimulating and developing the economy. For example, a free public college education can pay back in dividends through a long-term stimulus. A whole new segment of the future workforce would add newly obtained skills and training for the globalization era. The best method to boost economic growth is by providing a stimulus to the infrastructure, education, research, and healthcare sectors. A comprehensive provision of an investment by Congress would create thousands of new jobs, substantially increase GDP growth, and give the economy the support systems and infrastructure necessary to perform at maximum output.
Planning provides certainty and improves the quality of decision-making process for all parts of government – from national, regional to local governments – and for the private sector. For example, economic development plan provides a comprehensive overview of the economy, sets policy direction for economic growth, and identifies strategies, programs, and projects to improve the economy.
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