The COVID-19 pandemic and the COVID-19 crisis have profoundly and irreversibly impacted our society, which led to the need to create a stronger and a more sustainable policy mix, capable to address in a better and in a more coherent manner the fiscal policy and the monetary policy – which are in a powerful combination and which are in a complementary relationship; the countries due to support the changes, challenges and opportunities due to be derived from the implementation of a novel economic policy mix are expected to manage the economic, financial, social, demographical, and political situation much better, thus responding successfully to the economic, the financial, and the social crisis.
Published in Chapter:
Importance and Implications of Influential, Powerful, and Remarkable Economic Policy Mix: Pre-Pandemic and Post-Pandemic Challenges in Building Inclusive Global Knowledge Societies
Cristina Raluca Gh. Popescu (University of Bucharest, Romania) and Arturo Luque González (Universidad Técnica de Manabí, Ecuador & Observatorio Euromediterráneo de Espacio Público y Democracia, Ecuador)
Copyright: © 2022
|Pages: 20
DOI: 10.4018/978-1-6684-5113-7.ch003
Abstract
These days, specialists believe there is an overbearing synergistic relationship between the COVID-19 pandemic changes and COVID-19 crisis challenges that have led to an undeniable desideratum to create the optimum economic policy mix meant to support resources allocation, increase international economic cooperation, and achieve sustainable international fiscal and monetary policies. The post-COVID-19 era brings to light several pivotal questions that require immediate actions and answers: How can international wealth can be created as a result of economic policy mix and sustainability? In what manner can the fiscal and monetary discipline can be maintained in order to support sustainable development? Which are the new values that the society should embody in order to support development, economic growth, sustainability, and responsibility? All in all, building inclusive global knowledge societies implicates stronger sustainable development policies, beneficial policies for enterprise development and economic progress, and decisive economic policies oriented towards social needs.