Drawing on current business publications find an article in

Drawing on current business publications, find an article in which either fiscal or monetary policy makers were describing their goals of maintaining stable prices, full employment, and adequate economic growth over time. Which goal was the most important at the time your article was written?

Solution

After the great depression, a broad consensus has emerged that government is required to do their best to prevent any such disaster from taking place. There is a general agreement that stable and predictable economic outcomes can provide social and economic well being. However, there has been a disagreement between Keynesian and monetarist economists regarding the effectiveness of monetary and fiscal policy where Freidman believed that economic system is self-stabilizing and short-term fluctuations cannot be addressed due to limited information. From an economic point of view, optimal stabilization depends on whether economic fluctuations contribute to effective responses of an economy to the shocks.

Thus, a policy coordination between authorities can be effective in implementing both fiscal and monetary policy consistently.