analysis by فردای اقتصاد about Stock قرن on 6/21/2024

10 important theories of economic governance Should the president be an expert? (Part I) ✍🏻 Ali Mirzakhani/ Editor-in-Chief of Farda Ekhonat ◻️ These days, at the same time as the election debates, a discussion has been opened that whether the president should be an expert or not? The second question that is raised after the first question is that if the president is not an expert, how should he make the final decision in the event of an expert dispute? ◻️ Before answering these questions, it is necessary to address a neglected point in Iran's economy, and that is that, basically, the economic decision-making system (or the government's role-playing system in the economy) has three different but connected layers: 1- economic governance layer, 2- policy making layer and 3- executive and management layer. The first layer is the field of theory, the second is the domain of expert discussions, and the third is the field of technocracy. The second and third layers are influenced by the theory chosen in the first layer or the layer of economic governance, and on this basis, expert disagreement in the policymaking layer is mainly rooted in theoretical confusion. For example, the answer to the question that "inflation containment policy should be done through price suppression and exchange rate stabilization or through liquidity management in open market operations" is completely dependent on the choice of one of the theories of economic governance. What is expected from the president is to choose a strong and path-breaking theory in the economic governance layer, which basically closes the chapter of expert disputes to a great extent, and unfortunately, this is what most of the heads of state have refused to do in recent decades, or it is an outdated and failed theory. have chosen in the layer of economic governance, which has led to the grounding of the expert layer and, accordingly, the executive layer. ◻️ Before discussing which theories and theories in economic governance lead to prosperity and economic development, it might be better to have a brief overview of 10 important theories that have been presented in this regard during the last three centuries and then Let's examine the consequences and output of each of these theories in the field of economics. These 10 theories are: 1- The theory of mercantilism (crony capitalism) 2- The theory of economic freedom (classical liberalism) 3- The theory of socialist justice (in Iran it is termed with the wrong translation of social justice) 4- The theory of legal justice 5- The theory of utilitarianism (liberalism utilitarianism) 6- The theory Institutionalism 7- Theory of originality of history (economic nationalism) 8- Theory of industrialism (engineering of industrial development) 9- Theory of originality of politics (priority of democracy or political development over economic development) 10- Theory of good governance In this series of notes, he first explained each of these 10 theories and then examined the consequences of each theory in the way of policy making and economic management. Another question for which we tried to find an appropriate answer is which of these theories leads to an increase in the national wealth and per capita income of the citizens of a country and is given to each citizen with a fairer distribution. [continues] Click here to read the article on the website of Farda Ekhtaz #thinking school ◻️ Video media of the future of economy ⬇️ @Feghtesad