{"id":4511,"date":"2015-05-09T15:00:54","date_gmt":"2015-05-09T22:00:54","guid":{"rendered":"https:\/\/www.careersingovernment.com\/tools\/?p=4511"},"modified":"2015-05-13T08:20:06","modified_gmt":"2015-05-13T15:20:06","slug":"public-policy-economic-growth-development","status":"publish","type":"post","link":"https:\/\/www.careersingovernment.com\/tools\/gov-talk\/about-gov\/public-policy-economic-growth-development\/","title":{"rendered":"Public Policy: Economic Growth &#038; Development"},"content":{"rendered":"<p><a href=\"https:\/\/www.careersingovernment.com\/tools\/gov-talk\/public-policy-economic-growth-development\/attachment\/public-policy\/\" rel=\"attachment wp-att-4512\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-4512\" src=\"https:\/\/www.careersingovernment.com\/tools\/wp-content\/uploads\/2015\/05\/public-policy.jpg\" alt=\"public policy\" width=\"420\" height=\"280\" srcset=\"https:\/\/www.careersingovernment.com\/tools\/wp-content\/uploads\/2015\/05\/public-policy.jpg 420w, https:\/\/www.careersingovernment.com\/tools\/wp-content\/uploads\/2015\/05\/public-policy-300x200.jpg 300w\" sizes=\"(max-width: 420px) 100vw, 420px\" \/><\/a>There are numerous forces that function together to enhance economic growth and development. The role of public policy has been one of those forces that can have either a positive or negative impact.<\/p>\n<p>Examples of additional influences are deficits, educational investments, human capital investments, infrastructure investments, and technology and growth of knowledge. It is also critical to incentivize GDP growth, create jobs, and reestablish competiveness. By working together to retool our economy, it can run at a higher, more sustainable rate of growth within the future.<\/p>\n<p><strong>The Benefits of Public Policy <\/strong><\/p>\n<p>Public policy is important in stimulating and developing the economy. For example, a free public college education can pay back in dividends through a long-term stimulus. A whole new segment of the future workforce would add newly obtained skills and training for the globalization era.<\/p>\n<p>By offering older Americans who lost their jobs a partial tuition credit, it also provides an opportunity to obtain new skills and facilitate further economic growth. Increasing minimum wage can enable equal distribution of the excess profits from the labor market and facilitate them to return to labor rather than capital.<\/p>\n<p>Through equal distribution of the profits, there is an opportunity for money to be put back into the economy through consumer spending. Lastly, the best method to boost economic growth is by providing a stimulus to the infrastructure, education, research, and healthcare sectors. A comprehensive provision of an investment by Congress would create thousands of new jobs, substantially increase GDP growth, and give the economy the support systems and infrastructure necessary to perform at maximum output.<\/p>\n<p><strong>Reliance on Productivity <\/strong><\/p>\n<p>Healthy increases in labor and productivity powered growth for half of a century. As baby boomers continue to retire and female participation in the labor force plateaus, the nation will receive significantly less lift from the labor force and be reliant upon productivity growth to fuel gains. According to <a href=\"http:\/\/www.mckinsey.com\/insights\/americas\/growth_and_renewal_in_the_us\" target=\"_blank\" rel=\"nofollow\">McKinsey &amp; Company<\/a>, within the first decade of the 21<sup>st<\/sup> century, productivity gains contributed to 80 percent of total GDP growth. This trend of increased reliance on productivity gains for GDP growth is expected to continue.<\/p>\n<p>Productivity boosts play a critical role. For example, without one younger generations will experience slower increases within their standard of living. These slower increases have an essential function because it affects the quality of life and the GDP growth. Productivity and GDP growth ensure that the nation remains competitive, which allows businesses to constantly operate, invest, and expand nationwide. Our rapid rate of innovation and productivity growth has been at the core of the U.S. economy and our expandable domestic markets.<\/p>\n<p><strong>Investments and Deficits&#8230; Advantages and Disadvantages?<\/strong><\/p>\n<p>Public investments facilitate the accumulation of public capital. There are several types of investments to consider: educational, infrastructure, physical capital, technology, and human capital. Investments that are made within these areas can have profound economic effects. For example, infrastructure investments including roads, bridges, water supplies, sanitation, and infrastructure for public health and education are all factors within economic development and the quality of life for those affected. Improved infrastructure and transportation systems can increase job creation and tourism, both of which boost the economy.<\/p>\n<p>Educational investments are particularly important because the facilitation of positive learning experiences enables a superior education. Positive learning experiences empower additional positive learning experiences later in life, which can increase earnings potential and the quality of life. Investments that are made in human capital can also have the same effect. By increasing public capital, it can be utilized for the production of market goods, food production, and advancing the establishment of human capital. Investments made in technology encourage innovation, which is at the core of economic growth and development.<\/p>\n<p>Government deficits can have both positive and negative effects. Debt is best utilized to finance income producing assets that can be used to pay back the debt. Using debt to pay for unproductive assets can lead to a sinkhole because the depletion of the interest and principle payments surpass the influx of income. Large deficits can contribute to price instability. A weak fiscal position decreases a government\u2019s ability to borrow if faced with an unforeseen catastrophe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are numerous forces that function together to enhance economic growth and development. The role of public policy has been one of those forces that can have either a positive or negative impact. Examples of additional influences are deficits, educational investments, human capital investments, infrastructure investments, and technology and growth of knowledge. It is also [&hellip;]<\/p>\n","protected":false},"author":2163,"featured_media":4512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_cbd_carousel_blocks":"[]","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[35],"class_list":["post-4511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-about-gov","tag-government-trends"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Public Policy: Economic Growth &amp; Development - Careers in Government<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.careersingovernment.com\/tools\/gov-talk\/about-gov\/public-policy-economic-growth-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Public Policy: Economic Growth &amp; Development - Careers in Government\" \/>\n<meta property=\"og:description\" content=\"There are numerous forces that function together to enhance economic growth and development. The role of public policy has been one of those forces that can have either a positive or negative impact. Examples of additional influences are deficits, educational investments, human capital investments, infrastructure investments, and technology and growth of knowledge. It is also [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.careersingovernment.com\/tools\/gov-talk\/about-gov\/public-policy-economic-growth-development\/\" \/>\n<meta property=\"og:site_name\" content=\"Careers in Government\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CareersInGovernment\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/AskVMC\/\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-09T22:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-05-13T15:20:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.careersingovernment.com\/tools\/wp-content\/uploads\/2015\/05\/public-policy.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"420\" \/>\n\t<meta property=\"og:image:height\" content=\"280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Valerie Martinelli\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AskVMC\" \/>\n<meta name=\"twitter:site\" content=\"@careersingov\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Valerie Martinelli\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.careersingovernment.com\\\/tools\\\/gov-talk\\\/about-gov\\\/public-policy-economic-growth-development\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.careersingovernment.com\\\/tools\\\/gov-talk\\\/about-gov\\\/public-policy-economic-growth-development\\\/\"},\"author\":{\"name\":\"Valerie Martinelli\",\"@id\":\"https:\\\/\\\/www.careersingovernment.com\\\/tools\\\/#\\\/schema\\\/person\\\/aac81d136c99f8df589cd2045a70ef79\"},\"headline\":\"Public Policy: Economic Growth &#038; 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She also earned her Master in Public Administration degree from the John P. Burke School of Public Service at Post University in Waterbury, CT in May 2014. In her time at Post University, she participated in CDCOLOGY, a student based research program managed by the Centers for Disease Control and Prevention. She earned several awards and distinctions for her work and participation in this program. The program supported her ability to solve complex issues, provide project management assistance, and support with health policy and budgeting concerns. It also permitted her work to be evaluated by CDC policy analysts. Valerie has also received a Statement of Accomplishment with Distinction from The World Bank Group in Delivering Better Services with Public-Private Partnerships. She is a member of Post University\u2019s MPA Alumni Mentorship Program in which she guides students with their Capstone projects prior to their Dissertation and completion of the MPA program. Valerie joined The Center for Economic Policy and Development, Inc. as a Director in March 2015. In her tenure, she was responsible for the overall strategic and operational functions, including the development of programs, initiatives, projects, and execution of the mission. She also maintained a commitment to the leadership, management, communications, planning, and new business development of the organization. Valerie is currently the CEO and owner of Valerie Martinelli Consulting, LLC. in which she offers Life, Leadership, and Career coaching for women as well as various Management and Human Resource consulting services such as program development, management, and evaluation, human resource audits, and employee handbook and other policy developments. Valerie is also the Founder of Innovate 50\/50, a gender equality initiative based on mentorship for women and advocacy for equal rights. She is also the Host of Innovate Women, a monthly Twitter chat which discusses current events, the workplace, the business world, social media, and more that affect women. Most recently, she has joined the expert panel of Women\u2019s Media Center She Source.","sameAs":["http:\/\/askvmc.com\/","https:\/\/www.facebook.com\/AskVMC\/","https:\/\/x.com\/AskVMC"],"url":"https:\/\/www.careersingovernment.com\/tools\/author\/valeriem\/"}]}},"_links":{"self":[{"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/posts\/4511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/users\/2163"}],"replies":[{"embeddable":true,"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/comments?post=4511"}],"version-history":[{"count":2,"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/posts\/4511\/revisions"}],"predecessor-version":[{"id":4514,"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/posts\/4511\/revisions\/4514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/media\/4512"}],"wp:attachment":[{"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/media?parent=4511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/categories?post=4511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.careersingovernment.com\/tools\/wp-json\/wp\/v2\/tags?post=4511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}