Does Having Many Economists Ensure Good Macro Economic Policies

In my opinion, having many economists does not necessarily enrich an economic system neither does it ensure a good macroeconomic policies. This is so because; policies are made and enacted by the government (Politicians) and not economists. study decisions are also made by the politicians and not economists. However, the globe of these economists would go a long way to creating more way of life for the ideas to be shared on macroeconomic policies and decisions. Thus, the economists give recommendations on macroeconomic policies to politicians to implement. Their final recommendation on policies would be erupt than when the pool is small. Generally, the economist is there to serve as a watch dog.
However, some of these economists who are technocrats and work with government institutions such(prenominal)(prenominal) as the ministry of Finance, when they come out with very sensitive issues of the prudence, near often than not, are not being considered by the politicians. They would or else prefer implementing those macroeconomic policies that are favorable them and is based on share political interest.
There are times when the economy of a country faces recession regardless of the existence of economists. recessional is the contraction of business cycle resulting in a world(a) go slow in an economic activity.



Macroeconomic indicators such as GDP, employment, investment spending, household income, business profits, and inflation fall. Unemployment compute and bankruptcies rises. United States of America is a classic example of such occurrence. The economy, in 2008, was faced with a serious recession and what was cognize as the Credit Crunch. This affected the whole of Europe and course down to even the developing countries, Africa. Certainly, Ghana could not be left out of this calamity since the economy depends extensively on the economy of the developed countries such as America. Ghanas food supply most often than not, depends on America, Asia and Europe. Thus, with these economies in recession, in 2008,...If you want to get a full essay, prepare it on our website: Orderessay



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