The first clear formulation of a theory of public expenditure which can give a positive interpretation was presented by poter krut Wicksell and Esik Lindahl. In this formulation, individuals bargain over the level of public goods supply, simultaneously with the distribution of the cost between them. The bargaining equilibrium is Pareto optimal. In addition, each individual pays a price in [...]
Here is a compilation of essays on ‘Debt’ for class 9, 10, 11 and 12. Find paragraphs, long and short essays on ‘Debt’ especially written for school and college students. Essay on Debt Essay Contents: Essay on the Introduction to Debt Essay on the Types of Debt Essay on the Economic Effects of Deficit and Borrowers Essay on the Effect [...]
It is also interesting at this stage to learn the comparison between deficit financing (money creation) and borrowing. An easy way of financing government expenditure is by money creation. There are, in fact, two ways of creating money: (1) printing money, and (2) borrowing money from the central bank. Such 'borrowing' is essentially money creation, not borrowing in the true [...]