Policy is the set of laws, regulations, guidelines and actions a government takes to address relevant and problematic social issues. Its formulation and execution are pivotal to the functioning of a nation. Its direction and course are influenced by many factors including economic conditions, prevailing political values and the structure of the government itself.
Policymaking aims to create public goods and services that improve the quality of peoples’ lives. It encompasses an array of interrelated issues such as health, education, housing and employment. Policy makers rely on research and analysis to identify contributing factors to an issue, develop and implement solutions and evaluate the outcomes of the policies they have put in place.
Throughout the policymaking process, consultation and collaboration with impacted stakeholders is critical. This ensures that diverse views and interests are weighed, thus leading to more comprehensive and effective policy decisions.
As the global economy continues to reshape, many citizens are looking to policymakers for guidance on how to make their own informed choices. To help, we’ve created this policy explainer series that will dive into the at times complex process of crafting effective and relevant policies.