The role of budget deficits in development strategies

Article Abstract:

There exist two viewpoints on the role of government budget deficits in economic development. One school of thought subscribes to fiscal orthodoxy and minimalist intervention and the building up of a budgetary surplus, while the other school subscribes to an interventionist, deficit financing strategy. A third strategy combining elements of the two schools, fiscal orthodoxy and government intervention, would best serve growth and income distribution goals.

Economic aspects, Budget deficits

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On budget reform

Article Abstract:

The quest for budget reform in the US has been active since the late 1800s. Good budget process is still being sought and suggestions for good budgetary practice include: expenditure and revenue should be the same in the long term; the budget should be audited, with a general consensus on how the figures are made up; the budget period should be a cycle with a determined end; and it should be simple and balanced.

Methods, Management, Finance, Budget, Budgeting, Budgets, National government, Federal government, State budgets

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Does money still matter?

Article Abstract:

The validity of the quantity theory, which states that an empirical relationship exists between money and economic activity, has been attacked by economists such as Kenneth Kuttner, Benjamin Friedman, Robert Litterman and Laurence Weiss. Statistical analysis of economic indicators would show that both fiscal and monetary policies are unnecessary in combating problems such as unemployment.

Monetary policy, Quantity theory of money

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