20th Century Public Expenditure: A Global Perspective

Author: (USA) Vito Tanzi (Germany) Ludger Schuknecht Hu Jiayong
Publisher:
Publish Date: 2005-11-01
Features: This book explores the changes in the fiscal functions of governments in the 20th century. During this century, government expenditures in all industrialized countries increased significantly. However, the authors found that over the past 35 years, the growth in government spending has not brought much additional social and economic welfare. This suggests that public spending in industrialized countries could be much lower than the current level without sacrificing important social policy goals. To this end, the authors propose that governments need to adjust their policies and outline the future functions of the state—globalization demands and people's aspirations call for a "lean" yet "generous" state.