Public expenditure/Related Articles
From Citizendium, the Citizens' Compendium
- See also changes related to Public expenditure, or pages that link to Public expenditure or to this page or whose text .
See the economics index for an index to topics referred to in the economics articles.
- Economics : The analysis of the production, distribution, and consumption of goods and services.
- Politics : Activity that relates to the way in which society is governed, and the process by which human beings living in communities make decisions and establish obligatory values for its members.
- Political philosophy : Branch of philosophy that deals with fundamental questions about politics.
- Macroeconomics : The study of the behaviour of the principal economic aggregates, treating the national economy as an open system.
- Sociology : Social science that studies human social behavior or social relations, social institutions and structures, demography, public opinion, social welfare, social psychology and some forms of political behavior, as well as the history of sociology.
- Public goods : Products and services that can only be collectively financed because it is not feasible to require individual users to pay for using them.
- Fiscal policy : Policy concerning public expenditure, taxation and borrowing and the provision of public goods and services, and their effects upon social conduct, the distribution of wealth and the level of economic activity.
- Taxation : The transfer of resources from the community to the government.
- National debt : The external obligations of the government and public sector agencies (otherwise known as national debt or government debt).
- Multiplier effect :
- Socialism : Any socio-economic system in which property and distribution of wealth are controlled by a community, by cooperation law.
- Libertarianism : A political ideology that regards individual freedom as having the highest value in society.
- Communitarianism : The view that the rights of the individuals to self-accomplishment should be balanced with duties and responsibilities toward society as well as by a stronger sense of the common good.
- Crowding out : A fall in private sector investment resulting from an increase in government borrowing.
- Externality : A cost of production that is not borne by the producer, or a benefit that the producer does not receive.
- Flexible prices : The property of a market in which prices act rapidly to bring supply into equality with demand (see supply and demand).
- Gini coefficient : A number between 0 and 1 denoting the degree of inequality of income in a community, defined as the area between the Lorenz curve and the diagonal divided by the area under the diagonal.
- Gini index : A Gini coefficient expressed as a percentage.
- : The proof that it is impossible to devise a rational democratic voting system that is guaranteed to produce a consistent set of preferences for a group from the preferences of the people in the group.
- Kaldor-Hicks criterion : The criterion for the assessment of the economic efficiency of a proposal that requires that those who gain from it should be able to compensate those who lose from it.
- : A curve formed by plotting, on a cumulative basis, the amount of income received by members of a community against the number of individuals that receive that amount - so that inequality of income is indicated by departure from the 45 degree diagonal (sometimes applied to wealth).
- Market power : The ability of a supplier to exercise a degree of choice concerning the pricing of a product by restricting its supply: a measure of departure from the ideal of perfect competition in which every supplier is a price-taker
- Means test : The restriction of benefit payments to those whose income or savings are below prescribed limits.
- Perfect competition : The property of a hypothetical market in which no producer or consumer has the power to influence prices, each producer and each consumer acts independently, all products have identical qualities that are known to everybody, and there are no barriers to entry (see competition).
- Poverty trap : The situation in which an increase in earnings would be significantly reduced by a loss of those state benefits that are subject to a means test.
- Samaritan's dilemma : The adverse motivational effect of the expectation of assistance such as the motive to relax precautions against insured risks.
- Subsidy : A government grant to a supplier of goods or services, usually for the purpose of reducing prices, raising the supplier's income, or increasing the supplier's employment.
- Transfer payment : Money transferred from one party to another, without the exchange of a good or a service.
- Unemployment trap : The situation in which the after-tax income from employment is less than the state benefits that are receivable when unemployed.