1)What would make a good economic policy for the country, and why?

2)Did Pinochet's economic policies fail?

3)Realistically, how long will it take for the Zimbabwean economy to recover with its progressive economic policies?

1)An economic policy ( micro and macro both) primarily aims to describe the various economic behavior by presenting a real situation to solve different levels of economic constraints. Therefore, it is an organized setup of the interrelationship between government policies and reforms to set short and long term objectives.

Therefore, a good economic policy should have the following features:

1. A comprehensive approach.

2. Must be credible with respect to economic reality.

3. A good model should investigate and have an argumentative framework.

4. Provision of funds and assistance.

5. Must be universal in nature.

2)Pinochet's economic policies aimed at liberalization, removal of tariff protection of local industries, banning trade unions. Also, it privatized state-owned enterprises and stabilized inflation. His economic policies were effective but at the same time, they increased inequality and deepened poverty. Poverty increased because his policies had a negative impact on wages and the working class of Chile as the wages did not increase and due to privatization the workload had increased much. Therefore, Pinochet?s economic policies were not successful completely.

3)It will likely take a very long time for Zimbabwe to recover because of how desperate its economic situation was allowed to get. If it can attract some investment and obtain loans from the international community, the process may be sped up. Adoption of a free market with minimal regulation should also facilitate recovery. However, as of two months ago, inflation once again shot up in Zimbabwe, hitting 175%. This does not bode well for economic recovery in the near future.