Dr. Amro Husham Mohammad / Al-Mustansiriya University, College of Administration and Economics
Usually, complex and multi-dimensional discussions arise, including economic, social, and political dimensions, when linking financial policy with development efforts to uplift nations and societies. Thus, do security, military, and political considerations outweigh their economic counterparts, or vice versa? Is achieving high growth rates sufficient, or should growth be pro-poor? Regarding income redistribution, should it be through spending policies that encourage support, thus “free riding” and increasing societal and state welfare? Or should the focus be on tax policies that take from the rich and benefit the poor and marginalized? If the first type of policy burdens the budget and the second weakens the incentive to save and invest, which do we choose? Or do we find a middle ground, balancing efficiency considerations with justice, and leaning towards economic modeling?
These questions are legitimate and rational to a large extent: Should we continue with escalating military spending that attracts technology and employs it to protect societies while maintaining modest levels in sectors like health and education, or should the opposite be true?
Are the concepts of human development and human capital indicators merely estimative indicators encouraging countries to abandon burdensome security and military spending, or are they indicators with high acceptance and reliability among various countries and reputable international institutions, thus garnering greater attention?
All these questions can be clarified through financial policy, focusing on its comprehensive tool, the general budget. Iraq, with its scientific or dialectical discussions, is no exception to other countries, nor are its society, intellectuals, and specialists exceptions to their counterparts. This will be addressed through several axes.
