Economic planning
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Economic planning is a term used to describe the long term plans of an incumbant government to co-ordinate and develop the economy. Economic planning is commonly a feature of big government as it usually involves increased spending on things such as public work schemes and government programmes.
Economic planning can include:
- Discussing the long term future of economic growth, and ways of achieving said growth.
- Meeting social partners such as trade Union leaders to co-ordinate government planning in relation to these partners.
- Organising committees to create reports and offer reccomendations for future economic expansion.
Critics, who generally tend to be pro Free-market argue that the only economic planning that government should engage in is providing a framework for the economy to operate, such as sufficient infrastructure and the maintenance of law and order