For the moment the Bank of England has plenty of scope to help the economy by cutting the base rate, which currently stands at 4.5%.
This ought to give them scope to act promptly when the economy is slowing.
In his first remarks to the international media following the election, Mr. Najib told The Wall Street Journal in an interview on Tuesday that expanding the size and scope of the country's economy would help draw support back to the National Front, which has run the country uninterrupted since independence from Britain in 1957.
But once the crisis passes, there's not much scope for the U.K. economy to claw back ground lost during the recession and since.
Financial markets are healthier than they were two years ago, so there is less scope for the Fed to give the economy a boost by providing extra liquidity.
Long ago, even when we were talking about the Recovery Act just as legislation, we always said that it was never going to -- it was never the size and scope of the output removed from the economy because of the recession -- it was never going to totally fill that hole.
Thus the more the economy needs looser macroeconomic policy, the more scope the authorities will have to provide it.
Tuition assistance from employers has decreased in popularity and scope in recent years because of the state of the economy, but there are still plenty of companies that will pay for at least part of your graduate school education.
Like Barack Obama in the US, Mr Key's essential economic-policy challenge is that he will be expected to provide substantial economic stimulus as soon as he takes office, yet the weakness of the domestic economy will reduce tax revenues and limit his scope to raise spending without also increasing the fiscal burden.
That gives it plenty of scope to enjoy catch-up growth, unlike Japan's economy, which was still far smaller than America's when it reached the technological frontier.
They are likely to include a bit more scope for private initiative and for markets and prices, but all within an economy and society still dominated by the state.
Officials in Germany and other countries have suggested there might be scope to tweak the timing of austerity measures in order to help Greece's economy to recover.
Tonight I had a chance to discuss with you what to do to keep this economy going: keep the taxes low, don't increase the scope of the federal government, keep regulations down, legal reform, a health care policy that does not empower the federal government but empowers individuals, and an energy plan that will help us become less dependent on foreign sources of energy.
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