Explanation:
Enlightenment thinkers in Britain, in France and throughout Europe questioned traditional authority and embraced the notion that humanity could be improved through rational change. The Enlightenment produced numerous books, essays, inventions, scientific discoveries, laws, wars and revolutions.
MARK AS BRAINLIEST PLEASE
September 1, 1939 – September 2, 1945
Government spending accounts for a huge amount of the economy — some 40% or so in many modern economies. It’s not a matter of whether the government should try to influence the economy — it inevitably does. The question is in what ways it should try.
Also, it’s impossible to have a modern economy without a central bank and the central bank should be a government agency to keep it responsible to the nation as a whole, so monetary policy is inevitable as well.
2ND ANSWER IF THE 1ST ONE DOESNT WORK
Not even a little. Their motives are not pure and they can never have sufficient information or understanding.
Famous Hayek quote that needs mentioning in this sort of thread:
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions order, and adaptation to the unknown, can be achieved more effectively by decentralizing decisions and that a division of authority will actually extend the possibility of overall order. Yet that decentralization actually leads to more information being taken into account.
The Fatal Conceit : The Errors of Socialism (1988), p. 76
I would make an exception for prizes for innovation. They will probably be gamed, but they’ll keep the pols busy and might produce something useful.
The Federal Reserve works to promote a strong U.S. economy. Specifically, the Congress has assigned the Fed to conduct the nation’s monetary policy to support the goals of maximum employment, stable prices, and moderate long-term interest rates. When prices are stable, long-term interest rates remain at moderate levels, so the goals of price stability and moderate long-term interest rates go together. As a result, the goals of maximum employment and stable prices are often referred to as the Fed’s “dual mandate.”
Maximum employment is the highest level of employment or lowest level of unemployment that the economy can sustain while maintaining a stable inflation rate. Over the past few decades, experience has shown that it is possible to keep unemployment low and the jobs market strong without leading to an unwanted increase in inflation. For example, in the economic expansion following the Great Recession, as unemployment fell below estimates of what was thought to be sustainable, the jobs market proved remarkably adaptable. This resulted in many benefits and opportunities to families and communities that all too often had been left behind. Building on that, a low level of unemployment, absent other risks, will not by itself be a cause for concern. Of course, when unemployment is high, the Fed will actively seek to lower it. For this reason, the Fed seeks to mitigate shortfalls of employment from assessments of its maximum level.
Prices are considered stable when consumers and businesses don’t have to worry about rising or falling prices when making plans, or when borrowing or lending for long periods. The Federal Open Market Committee (FOMC) judges that inflation rate of 2 percent over the longer run, as measured by the annual change in the price index for personal consumption expenditures, is most consistent with the Federal Reserve’s mandate. To best achieve this longer-run goal, the FOMC seeks to achieve inflation that averages 2 percent over time. When households and businesses can reasonably expect 2 percent inflation over the longer run helps them make sound decisions regarding saving, borrowing, and investment, thus contributing to a well-functioning economy.
