Impact Of Fiscal Policy On The Pharmaceuticals Industry

737 words - 3 pages

Fiscal policy, Gross Domestic Product, Economics and Classical view of Economics and their overall impact on the likes of a company like Wyeth, a Pharmaceutical Company, and building upon such a correlation is what this article is all about. Fiscal Policy is the other half of the two-legged approach of the government to maintain stability within an economy while trying to maintain the sanctity of things and trying to achieve the targets outlined. The other part is the monetary policy. Fiscal policy is all about the earnings and expenditures of the government. The sources of revenue are the various forms of taxes whereas the expenses are the ones regarding the public utilities, defense etc. Gross Domestic Product is the total worth of all the goods and services produced within any given economy and the idea is to produce as much as possible. It beneficially impacted by the positive net exports and that has a good effect on the Exchequer of the country. GDP is in so many ways a true measure of the overall living standard of the economy. Mind you the GDP does not include the remittances from abroad and is strictly the measure of all the goods produced locally within the economy either for the purpose of local consumption or with the export orientation. So where does Economics or Classical Economics, Keynesian Theories fit into all of this? What is economics? It is the branch of social science that deals with the production and distribution and consumption of goods and services and their management. Economics is much more than that because it is a way of life and it is our guide to lead our lives. It is supposed to make things easier and the basic idea is to make us foresee things and to make the right decisions at the right time in the right place. It intends on making us turn left when we are not supposed to turn right. Its importance is duly highlighted and cannot be overlooked in any case or in any way or form. The three are inter-related in the way that the economics is the guiding principle and it sets...

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