One of the most strategic driving forces behind the wellbeing of a society or an economy is policymaking. The various policies laid out by policy makers go a long way to either ameliorate different aspects of a society and hence the economy or hold it back.
Policymaking is the act of creating laws or setting standards for a government, organization or business. These changes usually come as a result of the identification, monitoring and evaluation processes where trends are uncovered, or as a direct result of a pressing situation within an organization or a society.
In an ideally running society, the government makes policies for the protection and wellbeing of the citizens and population at large, and to ensure a better and smooth running of the economy. Some policies however, especially within corrupt governments are passed for selfish reasons. Lawmakers generally are people of position, power and wealth. They may run or oversee businesses, whose interests naturally have to be protected. They are well in position to do so. Where selfishness and greed surpasses rational reasoning, policies will be made that will protect businesses even at the expense of the wellbeing and wishes of the society. It is a common practice worldwide.
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