Government policy is the set of laws, enactments and regulations that guide a government’s actions and influence societal outcomes. Policymaking is a dynamic process that takes place within and beyond formal political structures as stakeholders engage with, collaborate with, and challenge one another to create and execute effective policies.
The genesis of policy begins with identifying emerging social, economic or environmental concerns and determining how to address them effectively. This involves research and analysis, examining the contributing factors that shape the problem and developing a cost-benefit analysis to consider how solutions will impact society. Effective policymakers are prepared to collaborate with a wide range of stakeholders, including the media and the public to identify the best course of action to take.
A key consideration in policymaking is how long a particular issue will remain a priority for society, with issues that have short attention spans being displaced by newer concerns. This limits the longevity of some policies, which can lead to costly policy uncertainty if a solution is not found quickly enough.
Distributive policies address the allocation of resources to help reduce inequality and promote a more equitable society. This includes everything from establishing minimum wage laws to implementing workplace safety standards, ensuring access to affordable housing and regulating the financial sector in order to protect consumer interests. It also encompasses measures like requiring drug testing of potential medical treatments, granting asylum to refugees and limiting the number of immigrants who can be deported from the United States.