Fiscalism
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Fiscalism is the economic theory that the government should limit its constraints on the economy to fiscal policy. Examples of these actions are taxes, bonds, interest rates, minimum wages, distribution of welfare, etc.. Fiscalism relies largely on Keynesian Economics. Unlike socialism, fiscalist economies have little or a minimal of private capital being controlled by the state. Unlike capitalism, fiscalism does put more restraint on economy liberty. As a result, the fiscalist economy has moderate growth during booms and moderate declines during recessions.
There are two types of Fiscalism:
- Contained fiscalism does not allow the economy to grow or decline as much as possible.
- Elevated fiscalism does not allow the economy to decline but, it does allow for the economy to grow unrestrained.
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