Problems of choice in public investment decisions with particular reference to defence spending
The thesis examines the principles that should govern public investment choice, paying particular attention to problems of deciding the appropriate level and pattern of defence spending. Theearly part of the paper is directed towards defining a basis of public choice utilising a concept of welfare interdependence, and a neo-utilitarian approach of maximising the mean welfare of the members of society. It is argued that the members of society are the only appropriate judges of their own...[Show more]
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