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Macroeconomics pp 230-249 | Cite as

Physical Policy and Supply-side Economics

  • John Evans-Pritchard
Chapter

Abstract

Monetary and fiscal policies primarily operate through some control of the supply or demand conditions of the economy. The traditional control is that of demand management, but subsidies, indirect taxes, the effects of interest rates on firms, etc., work mainly on the supply side. Physical policy in contrast ignores these supply and demand controls and simply dictates how markets will work. With prices policies, for example, the market prices will be fixed at a level stipulated by government, with little or no reference to the price that would be reached by the free interaction of supply and demand.

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Further Reading

  1. A. J. Brown and E. M. Burrows, Regional Economic Problems — Comparative Experiences of Some Market Economies, Studies in Economics: 13 (Allen & Unwin, 1979)Google Scholar
  2. Stuart Holland, The Regional Problem (Macmillan, 1976)CrossRefGoogle Scholar
  3. Michael Beesley and Stephen Littlechild, ‘Privatization: Principals, Problems and Priorities’, LBR (July 1983)Google Scholar
  4. Glyn Davies and John Davies, ‘The Revolution in Monopoly Theory’, LBR (July 1984)Google Scholar
  5. P. D. Henderson, ‘Trade Policies: Trends, Issues and Influences’, MBR (Winter 1983)Google Scholar
  6. J. A. Kay and Z. A. Silberston, ‘The New Industrial Policy — Privatisation and Competition’, MBR (Spring 1984)Google Scholar
  7. David F. Lomax, ‘Supply-side Economics: The British Experience’, NWBQR (Aug 1982)Google Scholar
  8. J. R. Shackleton, ‘Privatisation: The Case Examined’, NWBQR (May 1984)Google Scholar
  9. ‘A future for an incomes policy?’, MBR (Winter 1980)Google Scholar

Copyright information

© John Evans-Pritchard 1985

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  • John Evans-Pritchard

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