In the debate that started three years ago, I argued that the ideological purity of Islamism has been undermined by the activist policies
of the political administration.
In his authoritative history of the Great Depression era, Kennedy wrote of Hoover's 1932 program of activist policies
that they helped "lay the groundwork for a broader restructuring of government's role in many other sectors of American life, a restructuring known as the New Deal.
Expanding capacity and jobs in the sector is key, and I'd still argue for a set of more activist policies
such as better capital allowances, reduced corporation tax rates for manufacturing firms that increase output, national insurance holidays for such firms which expand employment, a much better funded investment bank and much more.
In addition to the time-consistency problem described above, a second potential difficulty may arise when the central bank tries to use the optimal activist policies
described by equations (37) and (38) to stabilize the economy around its good steady state: Once the economy reaches the good steady state--immediately under (37) and eventually under (38)--these activist policies
call for constant money growth and inflation rates and may therefore appear to private agents as being observationally equivalent to passive policies, such as a constant money growth rate rule.
Applying the innovative procedure Growth Diagnostic, it identifies Morocco's binding constraints to growth, and recommends activist policies
for productive diversification and enhanced competitiveness of the economy.
Taft, who would have preferred an appointment to the Supreme Court, won the election, but did not agressively pursue Roosevelt's activist policies
His results overturn findings favoring activist policies
in favor of prudent policies that ignore short-run stabilization concerns.
Although the seeds for the collapse of the activist policies
of the 1960s and 1970s were planted well before the Reagan administration, the 1981 inauguration of Ronald Reagan as president of the United States launched a revolution across a wide range of regulatory policies.
During the 1970s, however, Lee asserts that while "bad luck" (particularly the OPEC oil shocks) had a part in the economic downturn, by the end of the decade it was "clear that activist policies
had totally failed" (p.
Optimism is possible because Howard shares the neoliberal conviction that humane and activist policies
can be separated from ossified bureaucratic techniques.
Yet, the 1930s illustrate that activist policies
increase, not decrease, economic instability.