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Erschienen in:
2003 | OriginalPaper | Buchkapitel
An Institutionalist View of Fiscal Policy
verfasst von : Philip A. Klein
Erschienen in: Institutional Analysis and Economic Policy
Verlag: Springer US
Enthalten in: Professional Book Archive
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Fiscal policy is arguably the most explicit embodiment of the institutionalist conviction that there is a constructive role for governmental intervention in the quest for stable satisfactory growth rates in the modern market oriented economy. As such it is, therefore, at the same time an equally explicit rejection of the conventional mainstream belief that the best course is almost invariably to leave the economy to the not invariably tender mercies of the market.