Bread riots flourished all over France which erupted into French Revolution in 1789. The bourgeoisieas well as proletariot engaged in political upheavel of France to stabilize the economy and other national essentials. Equity and financial stability are the essentials to what the citizens of Europe needed. In this dissertation, the United Kingdom's economic and Gross Domestic Product (GDP) will be analysed in its infrastructure and effectiveness to its subjects in the 21st century. Then, there will be a brief synopsis of another country's economic
The British government economic endeavour after World War II is to construct a strong economy and a fair society. Under this goal, the government hopes that its subjects may revel in monetary opportunities under the ambience of security. The government has through litigation allowed the Bank of England to be sovereign in its relegation of annuities and managerial policies. This decision culminated with new fiscal rules and the diligence of officials to reduce the national debt has engendered a resilient cornerstone for economic stability for citizens and their posterity. The growth of nation's GDP in 58 consecutive quarters is a testament to that fact. (http://budget2007.treasury.gov.uk/page_01.htm) The government has depicted in its diligent effort to promote equity and flexibility. This establishment ensures that all citizens have the advantage to experience economic flourishment. In the century's eccentric transformation in global economy in terms of technology, production, and trading methods, especially in Europe, U.K. economists believes that the economy must brace itself for changes in livelihood and culture. The economists are confident in the litigation enforced will prepare the economy for such changes. The lassie-faire policies will subtly promulgate competition to steer individuals, business, and communities to embrace the changing global environment.
First of all, the British government maintained macroeconomic stability. That is, to create a breeding ground for progress, investment, and entrepreneurship, the government has committed to "2.5 per cent each year in real terms on average between 2007-08 and 2010-11." The government has diligently made concessions to promote economic stability and policed banks into abiding to the regulations and suppress the rise of inflations. These activities aforementioned have stimulated the 58 quarter GDP growth. According to the Budget 2007 Report for the public finances, there has been a surplus in GDP in the current economic cycle which serves as testimony to the government adherence to the "Golden Rule." Also, the public sector of net debt is forecasted to stabilise below 40 percentile. The government's maintenance of the net debt is strengthened by the execution in the sustainable investment rule. With established stability, the UK can undertake new challenges opportunities afforded to them by their discipline.
To ensure policies befit the tenuous nature of global economy, one must
eliminate any pragmatic miscues in interpretation or "the statistical
fog" of the status of the economy.
"Successful monetary policy depends on having good information The statistical fog surrounding the true state of the economy has proved a particularly potent breeding