An ancient principle with a modern-day twist, meaning that the those who have the gold, rule. Or, the candidates who receive the most campaign money usually get elected, and the interests who supply the most campaign money usually get favorable legislation. Term coined by Thomas Ferguson, author of Golden Rule: the Investment Theory of Parties and the Logic of Money-Driven Political Systems.
this is a fiscal rule which states that, on average over the economic cycle, the Government should borrow only to invest and not to fund current expenditure. So to accord with this rule, the average surplus on current budget over the cycle should be positive. ( See section 1.5.6)
The Golden Rule is a fiscal rule adopted by Chancellor of the Exchequer, Gordon Brown for HM Treasury in the UK to provide a guideline for the operation of fiscal policy. The Golden Rule states that over the economic cycle, the Government will borrow only to invest and not to fund current spending.