Other Definitions

I will be adding definitions to this page that do not fit the political or economic philosophy definitions on the main page.

Full Employment – Unemployment at 2% or less with zero hidden unemployment and zero underemployment

Fiscal Policy – is the use of government spending and revenue collection to influence the economy (spending money).

Monetary Policy – is the process by which the government, central bank, or monetary authority of a country controls (i) the supply of money, (ii) availability of money, and (iii) cost of money or rate of interest, in order to attain a set of objectives oriented towards the growth and stability of the economy (print more or less money and/or adjust interest rates).

Working Families – which Wayne Swan has defined as having a principal earner on $50,000 to $60,000 with a secondary earner on $20,000 to $30,000 [Link]


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