User:Nick Gardner /Sandbox: Difference between revisions

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Public expenditure can be thought of as the expression of the transfer of freedom of choice from individuals to government. The concept of a political system under which the people  delegate powers to the state on condition that it uses those powers in their interest was put forward  in the 17th century by [[John Locke]] <ref>[http://ebooks.adelaide.edu.au/l/locke/john/l81s/ John Locke ''On Civil Government''] </ref>, and the actions to be undertaken in the exercise of those delegated powers were described by [[Adam Smith]] in the 18th century as "erecting or maintaining those public institutions and those public works, which, although they may be in the highest degree advantageous to a great society, are, however, of such a nature, that the profit could not repay the expense to any individual or small number of individuals, and which it therefore cannot be expected that any individual or small number of individuals should erect or maintain."<ref>[http://www.adamsmith.org/smith/won-b5-c1-pt-3.htm Adam Smith: ''An Inquiry into the Nature And Causes of the Wealth of Nations'', Book 5, Chapter 1, Part 3, (first published 1776)]</ref>. The concept was further developed in the 19th century by [[John Stuart Mill]], who termed it "[[Representative Government]]" <ref>[http://philosophy.eserver.org/mill-representative-govt.txt John Stuart Mill Representative Government]</ref>.
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==Index and Glossary==
There is an index to the topics dealt with in the economics articles [[Economics/Related Articles|here]], and a glossary of economic terms [[Economics/Glossary|here]].


See also the  [[Politics/Index|'''index to the politics articles ''']].


[[User:Nick_Gardner#Methodology|methodology]]


{|align="right" cellpadding="10" style="background-color:#FFFFCC; width:40%; border: 1px solid #aaa; margin:20px; font-size: 92%;"
|"''The European Union is something ...
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights.''"


 
:Merci Olsson, of Nobel Med, congratulating  President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
<ref>[http://www.who.int/bulletin/volumes/82/2/PHCBP.pdf Kenneth Arrow: ''Uncertainty and the Welfare Economics of Medical Care''. American Economic Review, December 1963]</ref>
|}
 
Akerlof G. (1970), "The Market for Lemons: Quality Uncertainty and the Market Mechanism", Quarterly Journal of Economics 84, 488-500.
[http://books.google.com/books?id=zqLCvPhQcg0C&pg=PA175&lpg=PA175&dq=akerlof%E2%80%99s+market+for+lemons&source=bl&ots=swotxzjRbw&sig=eXjExEkkWOx8UuFffWibufYQXek&hl=en&ei=TgPrSus048qMB_bvxZgN&sa=X&oi=book_result&ct=result&resnum=8&ved=0CCEQ6AEwBzge#v=onepage&q=&f=false] (Google abstract)
<references/>

Latest revision as of 04:28, 22 November 2023


The account of this former contributor was not re-activated after the server upgrade of March 2022.


Index and Glossary

There is an index to the topics dealt with in the economics articles here, and a glossary of economic terms here.

See also the index to the politics articles .

methodology

"The European Union is something ... 
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights."
Merci Olsson, of Nobel Med, congratulating President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
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