What is the process to develop an economic policy that provides services and sustainability?

The most important part to creating a self sustaining successful economy for a country would be the creation of jobs.  If people have jobs then they get an income, which they can spend and put back into the economy. The creation of more jobs will reduce unemployment and that will also cut some of the budget reserved for unemployment.  If the governement creates more jobs, then the economy will improve significantly because people will spend more money.  There will be more business created as a result, and the government can charge more taxes and make more money.  The government collects many taxes because they "are necessary to pay for government: from the services we recieve from it" (The Politics of Power).

Obtained From: http://economy.ocregister.com/files/2010/03/Job-market-cartoon.jpg

This is a good cartoon since it represents high unemployment and the fact that it is not improving much this year.  The monetary policy is also important toward developing a strong economy.  Manipulating interest rates seems to be an affective way to effect the economy, for example "low interest rates, ion the other hand, encourage borrowing and spending by making credit cheap and easy to obtain" (The Politics of Power, 303).  If the government were to reduce the interest rates that may revive the economy by encouraging consumers to purchase new goods and maybe start new businesses.  This will also create more job opportunities for people. 
References: 

"The Power of Politics" - Ira Katznelson, Mark Kesselman, Alan Draper