Juan Carlos, how do you upload this? Juan Carlos, how do you upload what
is recorded? Who has not seen it? Where do I have to give it? Ah, yes, I
see it. Okay, well, here on the left this does not happen, it will be on
the right. Ah, yes, that's it, that's it. I don't know, now. In a general
vision there are three areas that we have discussed. The actors of the
process are very varied, both the parliament, as well as the government,
the political parties, the public administration, other public bodies,
pressure groups and also advisers. They intervene in the different phases
and in the decision-making, ranging from recognizing the problems and their
analysis to consultation, discussion, contribution and parliamentary
approval and others, and finally execution. Then, the basic power of the
government and the public administration, at the detriment of the
parliament, having a notable role in external influences. This is what
happens when you work on economic policy. Here are the parties, pressure
groups, various forms of advisory, all this influences the time to work and
make decisions. There are additional problems, such as delays, autonomy,
delegation of functions by the governments or territorial decentralization.
Let's see now the actors who intervene. They intervene in the process of
elaboration of economic policy. Economic policy should not be considered
neither mechanistic nor purely technical, it is something else. Various
actors intervene in its elaboration. There are factors of political type
and also institutional factors. So, in all this tangle we are going to
consider a series of areas of action, which are the generation of options,
which for that, all the actors who operate in the process of elaboration
intervene. The different preferences appear, after which a hierarchy of
objectives is established. It is necessary to consider what could be called
civil society, which is ultimately the one that votes the decisions
according to its preferences. It also theoretically has an influence on the
elaboration of economic policy, according to what it proposes. Then, the
other aspect is the decision, which is the central core of the elaboration
process. That is where it is decided and where the public authorities, with
legal competence on the subject, agree what actions should be made. The
powers that public authorities have to intervene in all this are the
characteristics, the three classes that exist, which are the legislative
power, the executive power and the judicial power. We know what the
legislative power is about, because the legislations, the corresponding
courts, the executive power, which is the government at different levels,
according to the standard of centralization, in Spain we know what there
is, and the judicial power, which also has importance and influence in the
decisions. In addition, there are other public bodies, which are related to
different levels of government. The bureaucratic apparatus, which is the
public administration, so to speak, does not enter into decision-making, it
does not intervene, but it does prepare the administrative technical device
to make decisions. And, in addition, another very important aspect is that
it executes the adopted agreements. In another aspect that we have
discussed, as I said before, is the projection of influences. The different
social and political agencies for all this are the pressure groups,
international organizations, political parties and, in addition, the
individual advisory tasks of collective institutions that they usually
guide and support. In addition, it should be taken into account that the
measures of economic policy affect a part of economic life. The
decision-making of economic policy is influenced by public opinion. In
reality, proposals and other new objectives, revision of the old ones that
existed or rejection of existing ones, that is, the channels of influence
of popular opinion can be several. Political parties, which is the most
important because they are theoretically caused by different options. The
parliaments, the pressure groups and the media. The existence of
constitutional stipulations affects, for example, some limits that economic
policy has. For example, one that was put on display a few years ago, not
many, was that there were limits to public opinion. Also, regarding the
constitutionality of legislative provisions, there are also a series of
things that limit the administrative action of special courts. All this
focuses on the limits. There are certain decisions taken in a temporal
context that tend to be prolonged through the passivity of inertia and lose
efficiency. The other important aspect that we were talking about was the
temporal dimension of the process of elaboration of economic policy. This
process has a series of stages and, like all processes of economic policy
and many other things, it also presents a series of problems that have to
be tried to be solved. Here, the element of time is important. There are
certain problems that require quick decisions. For example, the clearest
thing besides this, we have here is the post-economic policy which, at the
end of the day, requires, many times, quick decisions. So, even though
things are not urgent, the measures adopted do not manifest their effects
immediately. This must be taken into account. Therefore, we also know many
times that, no, such a measure has been taken and it will work tomorrow.
No. It works because all things have a process and a time. And it is also
important for there to be a certain coordination in order to avoid
important delays. In the decision-making process there are a series of
circumstances. So, there are first, to take decisions adequately, which is
not easy either, we have to recognize the problems. Once we have recognized
the problems, we also have to say many times that people have to agree that
some things are a problem to analyze those problems and the possible
alternatives. In addition, once all this is already in agreement, we have
to design measures, concrete measures for the different problems. Then this
involves consultations, discussion and parliamentary approval and
execution. Let's see this. The recognition of problems. In the recognition
of problems, in the recognition of problems, although sometimes it is not
easy to become aware of the problem or the problems, in the short term it
is important to recognize the identification to avoid deterioration. Here
information is fundamental, statistics, so the public administration in the
different statistical bodies is a determining subject to accelerate the
adequate development of the diagnosis of the situation. Therefore, here the
public intervenes in a clear way. In fact, we see that they ignore the
amount of statistics and information . In long-term economic policy
recognition is based on models and predictions. It is more difficult. In
times of crisis the techniques of pressure are not the techniques of
prediction are not very feasible. Why? Because things are often confused,
they are uncertain, it is difficult to prevent recessions. Then another
important aspect that we have seen before is the specific analysis of the
proposed problem and possible action alternatives. Statistical information
allows detect deviations regarding the pursued objectives, so in this
second phase it is important to study and interpret the data available in
an adequate way. The administration analyzes information and prepares joint
reports, studies on cycles and economic trends. It is the key of its
implementation. Other entities interested in the analysis that appear
constantly. For example, banking There are some that are more reliable than
others or have more efficiency than others. Certain foundations, academic
centers, all this includes. In this second stage it is seen if it is
necessary to make any decision. Alert signals are with indicators that mark
critical levels of economic magnitudes, although evolution makes it not an
easy task. There are other problems such as statistical delays limiting the
efficiency of the media or improving things. It is key to continue the
rigorous and global use of alerts as complementary indicators. We have to
pay attention to all the problems that we face. if there is an indicative
plan or forecast model, short-term measures can If there is a control
model, it is still simpler. The measures are designed by both the
government and the public administration at higher levels of ways to carry
out this phase of design by means of organizations for this and give
advice, recommendations and others. The difficulty in the decision-making
policy in the last years is what we have seen in the daily thing
instability and uncertainty. If the data before this becomes variables, the
difficulty is still greater. And also you have to make prior consultations
to the adoption of decisions. They are with relevant agents and relevant
institutions. So the economic and social decisions are not linked to the
decision-making process, but they have influence. Sometimes the reports are
preceptive for some laws, although many times these reports are not
relevant, but they are preceptive in some cases. Other interest groups such
as the opposition and political parties also intervene in one or another
way. And sometimes when you see the reaction of public opinion you then you
have an idea of where things go. Depending on what you consult they delay
the decision-making process, although they have more consensus. Then after
all this there has to be a parliamentary and approval, otherwise the legal
measures are not enough for the laws, but in case of urgency the government
can resort to measures of inferior rank, so in these cases only the
government and parliament intervene . Sometimes it is necessary to form
special commissions for some specific issues, which often involves
decreeing. The procedures in the parliament depend on some cases or other
different forms of majority. So to adopt certain decisions it is
established in the laws, in the constitution. It can be sometimes a simple
majority, sometimes a qualified some very specific issues. In other cases
an absolute majority is the execution. The implementation once all this has
been and the decisions have the measures and so on. It is the
implementation of the measures and it is the implementation of the measures
and this corresponds to the government and the central administration. Now
according to what things there are cases that come to the regional
authorities provincial or local depends on what they are. Sometimes
problems arise due to lack of concreting for example instructions developed
in a different way to the forecast there are conflicts by certain
situations sometimes evaluating the usefulness of some mechanical or
technical things. It is much more complicated. There is also an
interconnection of phases and the appearance of delays. This is important
to take account both delays and different phases are related. As for the
interconnection of phases some elements must be that are of interest for
example as they are the previous order can have changes for example there
may be consultations before designing measures consultations later depends
on many factors there are measures that are carried out with speed and
certain automatism for example some of monetary policy we see this every
day given the objectives and action criteria sometimes the process in the
process that starts is generated a feedback feed with previous phases for
example when designing measures sometimes review the previous analysis or
the appearance of other aspects that have not been seen before the phases
can also overlap both partially and totally for example there is a problem
in all this which is important that is between delays that can be both
internal and external it is important to take into account from the
detection of a problem until the result the measures and there may be
periods of long unperceived time or a which implies a lower efficiency of
public actions delays can be both internal and external internal delays are
in decisions of economic policy to respond to changes and these internal
delays within the own form of economic policy can be of recognition and
action of recognition sometimes there are problems sometimes understand the
problem simply from seeing the problem with clarity until observing the
changes that need changes in economic policy therefore here there be delays
then there are external delays which is the time that takes from the
adoption of measures until effects are seen in activity in economic action
in any way when there is greater credibility in economic policies the speed
is greater that is there are fewer delays another notable aspect to
consider another issue that we are going touch is what role have the
political decisions and other influential actors such as parliament
government political parties and judicial power well the parliament the
parliament whose functions are described in the constitution because the
truth is that it has a task that is quite complex on one part its
relationship with the government is the main instrument of short-term
policy and also this is important to keep in mind the main instrument of
short-term economic always goes through parliament which is the budget goes
through the parliament not only to find out but it needs parliamentary
approval to be able to execute the budget that each year now we are seeing
that in a few weeks months even saving the budget next year because all
this is already done in other aspects of economic policy is less relevant
but I repeat the most important thing that we have seen is the budget
another understatement but if it is important in terms of its elaboration
and others such as the budget but if it has importance as to its subsequent
control at the same time dictating all this is due to external aspects that
is for example an increase in legislative tasks of complex economic issues
which is very technical and most important of political parties that set
the direction there is also a need for continuity of actions that clash
with the parliamentary mechanics in the structure of parliamentary power
the subject is complex for many interests for many reasons another
important actor are political parties they have assumed a part of
parliamentary competencies in this way they are a kind of cartel that
defends ideological positions and this we see here and in many other places
as it is natural but from each option according to the class of according
to mark in all these cases of the party many times the options are marked
not in parliament in Spain there have been coalition governments although
if there have been parliamentary support in this style but the subject is
different party models we know that can be of various forms of European
constitution that has party of political parties that are left right and
center the left normally socialist social democrat of right sometimes
confessional in some countries and know that the main parties laicos that
usually in the executive all this conditions in the different influences on
the role of political economy especially in conflicts about objectives of
the most understand the prime minister the president ministers and similar
are in the government is the superior authority the maximum in economic
policy, it must also be emphasized in all this that they are not an
authority in this sense and the importance of public administration given
its interconnection with the government sometimes part of the real
political power is delegated which is what is called the legal legislation
it depends all this on the structure so in presidentialist countries
because there is less dependence on the authority of the parliaments in
party or parliamentary countries they are more superior to the parliament
for example because there are censored motions the parties that support the
government also play a major role important then the other important
element is another important actor is the judicial power its role in the
decision making is scarce but its role in terms of control over the
legality over the legislative and over the executive in the two cases and
we are constantly seeing them especially on the economic issue there are
the account courts to defend the the competition in some countries it also
exists well let's see now another important point that is the influence of
the bureaucratic system on decision-making has importance we are going to
see then the role of the public administration the bureaucratic system is
the administration of the state and its permanent civil service is the
bureaucratic system when we talk about bureaucracy in the context of all
this issue are all the institutions of the public administration at their
different levels central regional local agencies public organizations for
example public companies and others economic decisions there is a supply of
information and an element of evaluation of the government and the
parliament of work in the government and parliament it is important without
it the political power cannot fulfill its functions causes of the
importance of all this because they are the informative advantage most of
the public spending at the same time that implies inefficiencies goes
through there is a sign there is also the importance in the assignment not
always what the bureaucracy asks for coincides with the social demand there
is also an inefficiency that is possible by not minimizing costs that is
the consequence in all this is to say that this is relevant the degree of
inefficiency has a relationship with the competitive environment and the
organization spending of the department that gives the public good really
the system of incentives that are of little importance in efficiency that
is why this because when I say inefficiency in efficiency it is worth it
comes out alone it produces insufficiently it is produced inevitably and
seeks to maintain in this case they seek to maintain their status quo
therefore their decisions are conservative that is to say that things do
not change too much if they have a status quo that is attractive for them
on the other hand you have to take into account the complexity of
decision-making it is assumed that the political power delegates
competencies in the bureaucratic system especially in the high spheres of
the administration but we do not think that it goes well if not high
spheres hence sometimes directives of economic policies are set and it is
the bureaucratic apparatus that develops on a daily basis in its rules and
others that is why it is necessary to take into account the policy of that
aspect of joint policies in other cases you have to see the importance of
the bureaucratic issue is the debility in the case of certain governments
for example coalitions governments there it is not clear there is also
debility against for example in this case against economic reforms that
affect the social layers because in some cases political costs would be
determined for the government on the other hand there is a guarantee that
the bureaucratic system guarantees the permanence and technical complexity
the influence of the administration government is the axis in the
decision-making economic decision-making of course it is carried out
through persuasion through stimulation this would mean that the person
appeals to the interest to the civic feelings of citizens many times it is
effective the stimulation appeals to personal interest either the
confession of something of benefits or the penalization also the regulation
or regulation that leads to deciding mandatory actions for example of
conducts or avoid regulation or regulation which shows the restrictions
established by the Central Bank. Coordination is also necessary in other
aspects. Some actions are complex, because they concern different
organisms, autonomies and others. For example, there are different visions
of economic processes, it is necessary to achieve the greatest degree of
coordination. There are ways to achieve coordination, which are negotiation
of the implied parties, the preponderance of a superior body or authority,
specialized organizations that end up deciding. There is also the problem
of the opposite. It is increasingly common in agencies, public agencies and
others. There are numerous examples. The European Union is an example. In
all the countries, Spain, the Energy Commission, among many others. The
reasons for autonomy are technical and they are also practical reasons.
Theoretically, Buchanan defends the inter-temporal coordination that
transcends parties and ideologies. For example, the Central Bank seeks
price stability in Europe. The European Central Bank's main objective is to
achieve price stability. There are also practical reasons, which are both
technical and political, because sometimes things are complex, and this
means greater efficiency in agencies and organizations. Sometimes political
commitments are needed for the corresponding things, for the credits, for
technical goods and so on. There may be clashes with the political powers
due to certain confusion. In fact, we have also seen it. We must also take
territorial decentralization into account. What is that? According to the
countries, they are distributed in different ways. Spain has what it has
and there we are. There are many of them. They can be federal or similar.
The 50% or more, sometimes less, is the central government and the rest of
the regional ones are different in many occasions. In other cases, there is
greater centralism and in other cases local entities are much more
important. In fact, we see that in Europe and further away there are
different forms of organization of the different states. Therefore, there
is no need to include anything in this. There is also an important idea
which is that the importance of the expenses of local governments depends
on several factors. The proximity of the administration and political
culture and so on. In the case of a great decentralization as in Spain and
other countries it is assumed that there is greater proximity between the
agencies and the administration. However, fiscal federalism tries at the
same time to find the functions that some and other organizations should
have. At the level of government efficiency is considered. In other words,
whatever it is a great coordination with the central government At the same
time there are other aspects external. In the elaboration and form of
economic policy decisions would be the role of the pressure groups. The
groups that are organizations or entities that have in common interests and
try to influence the execution of economic policy or in their own benefit.
Therefore, we already know what it is the agricultural federations in some
countries are of these different classes. They are more effective in their
own groups of defined interests and little numerous with economic power and
in the decision-making process they are favored by the measures of the
adopted policy. Groups with vague interests and numerous members have less
capacity to influence. We are also constantly seeing this. On the other
hand, to operate these organizations they must find incentives selective
that apply or do not apply to their members depending on how they
contribute to obtain collective goods. The intervention techniques are
varied. Direct action can be given in political life contribute to form a
public opinion there are campaigns in media there is another way for
example the use of corruption of politicians and officials we know that
this exists in numerous places the behavior of all this is adjusted to a
typical pattern which is exchange of votes to achieve their objectives
usually have negative effects on public spending many times they go with or
make it not be the best. And there is also selective information that
informs the public opinion what interests them and sometimes they are
hidden all these things. There is also partial admissibility and there are
petitions for weaker groups as a mode of pressure although then it favors
all members this is complex The influence of all this is important the
possibility of several classes to exercise these positions such as the
registration of lobbies in some countries identification of representatives
of parliamentary groups declaration of financial aid creation of
counterweight powers consumer organizations against producers establishing
rules of democratic representation within the pressure groups are things
that are put into action in one way or another economic counseling and its
role in the decision-making process are several things on the one hand
there is a lack of unanimity when interpreting the same fact and there is
an antinomy between experts what you know which is the policymaker and
let's see a little bit of all this there are different classes there is a
lack of unanimity for example of economists when interpreting the same fact
or the same economic situation there is a difference between experts the
assessment can be both individual as a collective there are individual
assessments legal reports for the the republic personal trust sometimes
they also dedicate to politics for example to former ministers presidents
of the government who are national advisors there is a collective
counseling or through institutions or organizations defined in effect there
are various forms and expert councils scientific councils mixed councils
parliamentary committees international organizations of counseling private
committees specialized institutes all this would be but here ends the
summary very, very, very summarized of the points that I understand that
are basic of this topic goodbye and thanks