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 in the second of [[John Locke]]’s treatises ''On Civil Government'' <ref>[http://ebooks.adelaide.edu.au/l/locke/john/l81s/ John Locke ''On Civil Government''] </ref> and was developed in the 19th century by John Stuart Mill’s, who termed it "[[Representative Government]]" <ref>[http://philosophy.eserver.org/mill-representative-govt.txt John Stuart Mill Representative Government]</ref>. | |||
<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> | <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> | ||
Revision as of 08:23, 31 October 2009
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 in the second of John Locke’s treatises On Civil Government [1] and was developed in the 19th century by John Stuart Mill’s, who termed it "Representative Government" [2].
Akerlof G. (1970), "The Market for Lemons: Quality Uncertainty and the Market Mechanism", Quarterly Journal of Economics 84, 488-500. [1] (Google abstract)