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30 Jan

choforche

The large size of government and government spending is misguided in a way that is inimical to liberty. Over the past century the size of government spending has grown outstandingly in advanced economies. Government spending has also grown in developing countries but typically to lower levels. Big spending programs are usually put in place for services such as health, education, defence as well as social security and welfare. Modern governments are supposed to provide for public goods as well as services and programs that affect the lives of individuals.

Big government is a reality in virtually in all rich democracies. In most developed countries, government spending accounts for over half of gross domestic product (GDP), while in the even lowest spending economies, it accounts for about one quarter of GDP. Developing countries are usually characterised by smaller government spending as a share of GDP because much of economic activity is…

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Posted by on January 30, 2012 in Uncategorized

 

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