The Business of Government and Government as a Business
A NATION IN DEBT: ECONOMISTS DEBATE THE FEDERAL DEFICIT, pp. 271-286, Richard H. Fink and Jack C. High, eds., University Publications of America, 1987
15 Pages Posted: 18 Jan 2010
Date Written: 1987
Economists have historically believed that some goods and services can be provided only by the government. The traditional theory, Boettke and Ellig suggest, does not mean that we know for certain which specific goods those are in the real world. They propose allowing the market to decide what private enterprise can or cannot do by allowing private firms to compete with the government in the production of public goods, including the monetary system. As the scope of government activity shrinks, so, of course, will deficits.
Keywords: Public Goods
JEL Classification: B53, D70
Suggested Citation: Suggested Citation