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Thursday, 10 February 2011

Wagner Law of Increasing State Activity - Public Expenditure

Posted on 20:39 by Unknown
Introduction - Public Expenditure is Increasing ↓
Adam Smith wrote in the 'Wealth of Nations' that the government should restrict their activities to;Defence against foreign aggression.
Maintenance of internal peace and order.
Public development work.All other functions besides these were considered beyond the scope of the state & expenditure on them was treated as unjust & wasteful.
But there
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