Economic and Social Survey of Asia and the Far East 1960

image of Economic and Social Survey of Asia and the Far East 1960

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.



Government expenditure

The expenditure of public money, reflecting as it does the utilization of resources by and through the government, involves the weighing of alternate means to promote the public good. In framing its budget, a government is obliged to decide how much of the national product shall be devoted to public expenditure and how much shall be left in the hands of individuals. It must decide what share of the total government expenditure shall go to each of the competing demands—education, defence, public industry, administration, and so on. Each of these must be weighed against all of the rest in the light of some conception of the common good, with due allowance for political and other considerations. It is the purpose of this chapter to describe the choice that was actually made in various Asian countries over the last decade or so.


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