Why is it critical for the community or region to focus on key issues in economic...

Why is it critical for the community or region to focus on key issues in economic development rather than try to equally address every need?

Expert Solution

It is important to address the key issues because usually the key issues in economic development are the causes of all the problems in the economy. According to the trickle down theory, actions taken to correct or address certain issues creates automatic solutions for other matters too. It says that taxes breaks and benefits to the corporations and the high income earners trickle downs the effects to the other sections of the society and economy as a whole. For example, addressing the issue of unemployment will by itself solve the problem of low income, low minimum wages, poor consumer spending, lower standard of living and others.

Also, it is not feasible and efficient for the community or region to focus on all the issues simultaneously because of the limitation of availability of resources and funds, possibility of contradictory policy actions, opposing objectives and others which may reduce the effectiveness of the policies.

Kindly up vote my answer.

Rahul Sunny answered 2 years ago

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