Abstract
The article is promoting a new formula for the general economics based on the fairness which is relative, namely the relative equality method which appropriates for assessment and treatment the unfair economic policies. Accordingly, here is the explanation of the method of the relative equality and the proofs that the fairness of the economic policies is a compulsion since the more the fairness of the economic policies, the more the health of the Country financially and the Economics’ Welfare, contrary, the greater the unfairness, the greater the chances of the crisis of the country. For instance, the unfairness on the context of the relative equality in the tax policy may result in a loss of the Country's income from taxes of more than 50%. And, the unfair spectrum policy may cause a potential declining on the Country revenue, the Gross Domestic Product, and the quality of internet services over 60%. As well as, the unfair labor policy will lead to a potential unemployment rate of more than 4%, even there is a balance in the labor demand and supply Keywords: fairness; relative; relative equality index; economic policy; finance healthy; Economics’ Welfare. DOI: 10.7176/RJFA/11-10-16 Publication date: May 31 st 2020
Highlights
A populist country's long-standing economic policy has been warned of causing a state financial problems [1], and there are some experts giving an explanation of how a particular country is reforming its economic policies so as to improve its poor economic conditions for the better [2], [3]
The article reports the implementation of the "relative equality" method prove that the fairness of the level of an economic policy has a high correlation with the level of the performance of the Country financial and the people's welfare
The "relative equality" method consists of the integral part, the formula that supports the method, namely the relative equality index, and the recommendation to determine the level of fairness after computing the index, which the “relative equality coefficient”
Summary
A populist country's long-standing economic policy has been warned of causing a state financial problems [1], and there are some experts giving an explanation of how a particular country is reforming its economic policies so as to improve its poor economic conditions for the better [2], [3]. It is a question of whether there is a general theory that can be used by all Countries in order to reform the economic policies that can avert its country from the crisis.
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