In conclusion:
Which country of the two you selected has implemented the most preferable economic policies?
I prefer Russia’s policy better then UK’s policy when they are succeed. However, I prefer UK’s policy if we saw the progress that they went over. Russia's policies are more complicated, and they contains less details, but I prefer their policies because personally, I don't prefer UK's policy that tries to maintain their inflation by sailing products.
To what extent, if any, should governments try to manipulate the economy?
If they the economy need it. Market have limit to save the economy and keep their inflation percentage. However, when government manipulate it, then there are one more place to trade with which can manipulate their input and bonds. Selling governmental bond and governmental stocks are good at reduce the amount of money in market, and buying bonds and stocks are good at increasing the amount of money in market. Personally, I prefer Hayek's opinion better then Keynes' opinion. However, I partly agree with Keynes in sense that Government is the most effective instrument to change the economy. As I mentioned, for normal days citizens have chance to manipulate economy, but when the situations are going terribly, then governments need to manipulate it. Just like what UK, and Russia trying to do.
Which country of the two you selected has implemented the most preferable economic policies?
I prefer Russia’s policy better then UK’s policy when they are succeed. However, I prefer UK’s policy if we saw the progress that they went over. Russia's policies are more complicated, and they contains less details, but I prefer their policies because personally, I don't prefer UK's policy that tries to maintain their inflation by sailing products.
To what extent, if any, should governments try to manipulate the economy?
If they the economy need it. Market have limit to save the economy and keep their inflation percentage. However, when government manipulate it, then there are one more place to trade with which can manipulate their input and bonds. Selling governmental bond and governmental stocks are good at reduce the amount of money in market, and buying bonds and stocks are good at increasing the amount of money in market. Personally, I prefer Hayek's opinion better then Keynes' opinion. However, I partly agree with Keynes in sense that Government is the most effective instrument to change the economy. As I mentioned, for normal days citizens have chance to manipulate economy, but when the situations are going terribly, then governments need to manipulate it. Just like what UK, and Russia trying to do.
- Citations!
https://www.gov.uk/government/publications/review-of-the-monetary-policy-framework
https://docs.google.com/a/kis.ac/document/d/1i4jGkdv3sjKcGLNs6KR-gzDmTTcOgPKj_qfcT3q6T20/edit?usp=sharing
https://www.cia.gov/library/publications/the-world-factbook/geos/uk.html
https://www.cia.gov/library/publications/the-world-factbook/geos/rs.html
http://kisecon.weebly.com/economic-policies-project.html