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 labour policy will lead to a potential unemployment rate of more than 4%; even there is a balance in the labour demand and supply. Keywords: fairness, relative, relative equality index, economic policy, finance healthy; Economics’ Welfare DOI: 10.7176/RJFA/11-10-11 Publication date: May 31 st 2020
Highlights
A populist country's long-standing economic policy has been warned of causing a state financial problems (Populism 2020), 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 (Wang, Xiaohu 2015; Mastilo, Z. 2016)
The article introduces a new insight into the method of general economic that the level of the fairness of the economic policy is very influential on the State's finances and the welfare of its people
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
Summary
A populist country's long-standing economic policy has been warned of causing a state financial problems (Populism 2020), 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 (Wang, Xiaohu 2015; Mastilo, Z. 2016). The article introduces a new insight into the method of general economic that the level of the fairness of the economic policy is very influential on the State's finances and the welfare of its people. 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.
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