Since the mid-1950's, public finance (at least in its Anglo-American
variant) has undergone a complete transformation through the
development of modern public expenditure theory.
Prior to this time, public finance had been concerned almost
entirely with tax matters. The treatment afforded the expenditure side
of the budget had in most cases been little more than perfunctory and
often enough, when public expenditures did appear, it was in their role
as an alternative means of moderating...[Show more]
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