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Fiscal Policy – Main Component Of Durable Development Strategy

Author

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  • Iuliana Militaru

    (Romanian American University in Bucharest)

Abstract

Any strategy of durable (economic) development must acquit itself, first and foremost, of basic need of actually yielding economic development. For this, a mix of economic policies are needed and used, most important being fiscal policy and monetary policy: the former is needed for building up aggregate demand, the latter, for expanding aggregate supply. As for the unavoidable (potential) drawbacks – i.e., of using both of this policies at once (and some others besides) –,monetary inflation is at hand, and maybe just a little more harmful as (the need of) inflating real economy itself; for, in the end – and this is not necessarily always understood –, what any durable development strategy amounts to is ‘pilfering’ some of future’s resources for bolstering the present, with same resources.

Suggested Citation

  • Iuliana Militaru, 2019. "Fiscal Policy – Main Component Of Durable Development Strategy," Romanian Economic Business Review, Romanian-American University, vol. 14(1), pages 53-57, March.
    • Handle: RePEc:rau:journl:v:14:y:2019:i:1:p:53-57
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    References listed on IDEAS

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    2. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
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