Is reducing inflation rate more important or decreasing unemployment?
Unemployment and inflation are not two separate issues in the world though there are different theories. One of those theories is that if you want to reduce inflation you must go for contractionary monetary and financial policies or if you want to create more jobs you should plan more investments and adopt expansionary monetary policies while reducing interest rate. There are many economists who have questioned this relationship. I do not want to confirm or reject this or that theory, but I believe that all state-run institutions and organizations should have a comprehensive plan according to advantages of this plan and the countrys needs. That is, this should be done before formulating five-year development plans. Government plans do not allow every sector to have its own plan. A comprehensive plan is only effective when sectoral plans have been integrated into it and it should then be decided whether unemployment rate is to be reduced to a one-digit figure by the end of the plan, or
