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In modern public-finance literature, a whole economy of the tax system has developed (tax system economics), which can be defined as "the overall management of public revenue of a state or integration grouping's public revenues and expenditures in order to shape smart economic policies that stimulates economic growth and development and ...
Woodrow Wilson defined public administration as a detailed and systematic execution of public law, he divided government institutions into two separate sectors, administration and politics. According to him politics is dealt with policy formulation and questions regarding such, whereas administration is equipped with carrying said policies out.
Henry George had famously advocated for the replacement of all other taxes with a land value tax, arguing that as the location value of land was improved by public works, its economic rent was the most logical source of public revenue. [3] Subsequent studies generalized the principle and found that the theorem holds even after relaxing ...
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare .
H. George Frederickson (July 17, 1934 – July 24, 2020) [1] was born in Twin Falls, Idaho. [2] He was a generalist in the field of public administration with particular interests in public things, theories of public administration, systems of multi-level governance, and American local government. [3]
The classical perspective emerges from the Industrial Revolution in the private sector and the need for improved public administration in the public sector. Both efforts center on theories of efficiency. Classical works have seasoned and have been elaborated upon in depth. [9]
Tax revenue is the income that is collected by governments through taxation. Taxation is the primary source of government revenue. Revenue may be extracted from sources such as individuals, public enterprises, trade, royalties on natural resources and/or foreign aid. An inefficient collection of taxes is greater in countries characterized by ...
In other words, it is the study of how competencies (expenditure side) and fiscal instruments (revenue side) are allocated across different (vertical) layers of the administration. An important part of its subject matter is the system of transfer payments or grants by which a central government shares its revenues with lower levels of government.