This article throws light upon the top three approaches to public goods allocation. The approaches are: 1. The Marginal Utility Approach of Public Goods Allocation 2. Voluntary Exchange Approach 3. Samuelson’s Approach to Public Goods Allocation. 1. The Marginal Utility Approach of Public Goods Allocation: Professor A. C Pigou has made a heroic attempt to reconcile the benefit and ability [...]
Prof. Hugh Dalton points out that “in the sphere of public finance, we are still haunted by the superficial views and shallow percepts of an early age”. The principles that shaped the financial policies and operations of the state during the nineteenth century have lost its validity and applicability in the twentieth century and even today. The doctrine of Laissez-faire, [...]
In this article we will discuss about the similarities and difference between public and private finance. Similarities between Public and Private Finance: While the individual is concerned with the utilization of labour and capital at his disposal, in order to satisfy some of his wants, the state is concerned with the utilization of the labour and capital and other resources [...]