Which in your opinion is the best economic policy?

[mileslunn]

Not sure if this falls into any one theory, but mine is as possible.

1.  Taxes - Should be high to fund the programs we want, but also low enough to not stunt growth and corporate and top marginal rates should be competitive.  They shouldn't be significantly higher than others, but no need to be significantly lower either.  Taxes should focus on revenue collection not social engineering, so as few a deductions and write offs as possible.  They should be both simple and progressive.  Otherwise those with higher incomes pay higher taxes than those with lower, but also the number of brackets should be kept to a minimum, ideally around 3.  Taxes that are least harmful to growth like sales taxes should be relied on as much as possible.

2.  Government regulation should be streamlined and easy to understand.  Should prevent harm but at the same time should not be excessive and should be reviewed regularly to ensure as the world changes no regulations are added where needed and outdated ones are removed. 

3.  Government intervention should be modest.  It should intervene to prevent market failures, but should not try to run the economy or play an excessive role in trying to get a pre-determined outcome.

4.  State ownership should be limited to natural monopolies and essential services the private sector either cannot provide or will not.  Everything else should be left to the private sector.

5.  A social safety net should be available to ensure no one falls through the cracks, but also not so generous to encourage dependence, but not so weak people fall through the cracks.

6.  Deficits should only be run during recessions and once out of recessions governments should balance budgets in a timely manner.  Likewise debt should be primarily for capital expenditures which have positive returns while operating deficits should be avoided except in recessions.

So I guess you could say mine is largely neo-classical but with a tinge of Keynesian.

[Rules for me, but not for thee]

Austrian-style (supply side). Better stability, money has true value, people can save instead of going into debt.  No boom-bust cycles.  Modern logistics would eliminate bank panics.

[All Along The Watchtower]

Full Communism Now

[MR DARK BRANDON]

Friedmanian Economics