Public Expenditure Quotes

One of the commonest things to do with savings is to lend them to some Government. In view of the fact that the bulk of the public expenditure of most civilized Governments consists in payment for past wars or preparation for future wars, the man who lends his money to a Government is in the same position as the bad men in Shakespeare who hire murderers. The net result of the man's economical habits is to increase the armed forces of the State to which he lends his savings. Obviously it would be better if he spent the money, even if he spent it in drink or gambling.

The sense that just about anything goes with the collection of public revenues and the making of public expenditure has contributed mightily to the current malaise.

The American Society of Civil Engineers said in 2007 that the U.S. had fallen so far behind in maintaining its public infrastructure -- roads, bridges, schools, dams -- that it would take more than a trillion and half dollars over five years to bring it back up to standard. Instead, these types of expenditures are being cut back. At the same time, public infrastructure around the world is facing unprecedented stress, with hurricanes, cyclones, floods and forest fires all increasing in frequency and intensity. It's easy to imagine a future in which growing numbers of cities have their frail and long-neglected infrastructures knocked out by disasters and then are left to rot, their core services never repaired or rehabilitated. The well-off, meanwhile, will withdraw into gated communities, their needs met by privatized providers.

Without ever exactly putting his mind to it, he's come to believe that loss is the standard trajectory. Something new appears in the world-a baby, say, or a car or a house, or an individual shows some special talent-with luck and huge expenditures of soul and effort you might keep the project stoked for a while, but eventually, ultimately, its going down. This is a truth so brutally self-evident that he can't fathom why it's not more widely percieved, hence his contempt for the usual public shock and outrage when a particular situation goes to hell. The war is fucked? Well, duh. Nine-eleven? Slow train coming. They hate our freedoms? Yo, they hate our actual guts! Billy suspects his fellow Americans secretly know better, but something in the land is stuck on teenage drama, on extravagant theatrics of ravaged innocence and soothing mud wallows of self-justifying pity.

Taxation is not only a way of requiring all citizens to contribute to the financing of public expenditures and projects and to distribute the tax burden as fairly as possible; it is also useful for establishing classifications and promoting knowledge as well as democratic transparency.

One of the commonest things to do with savings is to lend them to some Government. In view of the fact that the bulk of the public expenditure of most civilized Governments consists in payment for past wars or preparation for future wars, the man who lends his money to a Government is in the same position as the bad men in Shakespeare who hire murderers.

We have the money. We’ve just made choices about how to spend it. Over the years, lawmakers on both sides of the aisle have restricted housing aid to the poor but expanded it to the affluent in the form of tax benefits for homeowners. 57 Today, housing-related tax expenditures far outpace those for housing assistance. In 2008, the year Arleen was evicted from Thirteenth Street, federal expenditures for direct housing assistance totaled less than $40.2 billion, but homeowner tax benefits exceeded $171 billion. That number, $171 billion, was equivalent to the 2008 budgets for the Department of Education, the Department of Veterans Affairs, the Department of Homeland Security, the Department of Justice, and the Department of Agriculture combined. 58 Each year, we spend three times what a universal housing voucher program is estimated to cost (in total ) on homeowner benefits, like the mortgage-interest deduction and the capital-gains exclusion. Most federal housing subsidies benefit families with six-figure incomes. 59 If we are going to spend the bulk of our public dollars on the affluent—at least when it comes to housing—we should own up to that decision and stop repeating the politicians’ canard about one of the richest countries on the planet being unable to afford doing more. If poverty persists in America, it is not for lack of resources.

War is the common harvest of all those who participate in the division and expenditure of public money, in all countries. It is the art of conquering at home; the object of it is an increase of revenue; and as revenue cannot be increased without taxes, a pretence must be made for expenditure.

It’s all part of the life-cycle of an economy. First it’s lawless capitalism until that starts to impede growth. Next comes regulation, law enforcement, and taxes. After that: public benefits and entitlements. Then, finally, over-expenditure and collapse.

Without ever exactly putting his mind to it, he's come to believe that loss is standard trajectory. Something new appears in the world—a baby, say, or a car or a house, or an individual shows some special talent—with luck and huge expenditures of soul and effort you might keep the project stoked for a while, but eventually, ultimately, it's going down. This is a truth so brutally self-evident that he can't fathom why it's not more widely perceived, hence his contempt for the usual public shock and outrage when a particular situation goes to hell.

I cannot sufficiently celebrate the glorious liberty that reigns in the public libraries of the twentieth century as compared with the intolerable management of those of the nineteenth century, in which the books were jealously railed away from the people, and obtainable only at an expenditure of time and red tape calculated to discourage any ordinary taste for literature.

The United States, with the greatest ability and the weakest desire to finance a welfare state, winds up in the middle of the pack in terms of the absolute value of the resources devoted to it. By 2003...America's per capita Public Expenditures were greater than those in Japan, Spain, Australia, Canada, and the United Kingdom, while lower than those in Italy, the Netherlands, Germany, Belgium, France, Denmark and Sweden.

It's all part of the life-cycle of an economy. First it's lawless capitalism until that starts to impede growth. Next comes regulation, law enforcement, and taxes. After that: public benefits and entitlements. Then finally, over expenditure and collapse.

Within a neoliberal discourse there is also an assumption that all social groups will ultimately benefit from the effects of corporate profit, regardless of the fact that in increases the wealth of the already wealthy. Yet, in reality, neoliberal agendas aim to reduce labour costs, decrease public expenditure and make work more flexible...For poor families and the working poor, this means that they are more likely to be exploited as their incomes remain low, and their ability to access services is increasingly compromised.

What Hurts the People There are five things that hurt the people: There are local officials who use public office for personal benefit, taking improper advantage of their authority, holding weapons in one hand and people’s livelihood in the other, corrupting their offices, and bleeding the people. There are cases where serious offenses are given light penalties; there is inequality before the law, and the innocent are subjected to punishment, even execution. Sometimes serious crimes are pardoned, the strong are supported, and the weak are oppressed. Harsh penalties are applied, unjustly torturing people to get at facts. Sometimes there are officials who condone crime and vice, punishing those who protest against this, cutting off the avenues of appeal and hiding the truth, plundering and ruining lives, unjust and arbitrary. Sometimes there are senior officials who repeatedly change department heads so as to monopolize the government administration, favoring their friends and relatives while treating those they dislike with unjust harshness, oppressive in their actions, prejudiced and unruly. They also use taxation to reap profit, enriching themselves and their families by exactions and fraud. Sometimes local officials extensively tailor awards and fines, welfare projects, and general expenditures, arbitrarily determining prices and measures, with the result that people lose their jobs. These five things are harmful to the people, and anyone who does any of these should be dismissed from office.

I eluded them, therefore, with no great expenditure of physical effort, but I would be deceiving my public if I said that I was enjoying the episode. It offends one's pride when one has to leap like a lamb in Springtime at the bidding of an elderly little Gawd-help-us with whom it is impossible to reason.

The same economic relationship is at work underground, where low-density land-use patterns require greater lengths of pipe and conduit to distribute municipal services. This high ratio of public to private expenditure helps explain why suburban municipalities are finding that new growth fails to pay for itself at acceptable levels of taxation.

The much-criticised rubber regime of Leopold II had only a brief heyday and disappeared from the tables of Congolese resources shortly after 1900 in favour of palm oil and palm nuts. The production tables also show that the population increased from 1890 onwards and was not exterminated. In 1888, And revenue from the 'red' rubber largely went to the Free State for public expenditure, including road construction and the army. These budgets, too, are never cited by the narrators, ever. Ditto for the rubber tables, which show that far more rubber arrived in Antwerp from French Congo and Angola than from the Free State in the early period. Rubber from Congo Free State accounted for barely 10 per cent of world production. The big supplier was the Amazon with 70%.

Second, it is also quite clear that, all things considered, this very high level of public debt served the interests of the lenders and their descendants quite well, at least when compared with what would have happened if the British monarchy had financed its expenditures by making them pay taxes. From the standpoint of people with the means to lend to the government, it is obviously far more advantageous to lend to the state and receive interest on the loan for decades than to pay taxes without compensation. Furthermore, the fact that the government’s deficits increased the overall demand for private wealth inevitably increased the return on that wealth, thereby serving the interests of those whose prosperity depended on the return on their investment in government bonds.

Public R&D expenditures are already at their lowest level as a share of the economy in forty years, and they are slated to fall to their lowest level—0.5 percent of GDP in 2021—since before the great mobilization of science during World War II.85 If they were instead increased in line with the size of the economy, according to one cautious calculation, the economy would generate more than a half trillion dollars in additional income over the next nine years.86

This was the argument put forward during the War when the expenditure on the army and navy had to be met; and this was the argument put forward in Germany and Austria after the War when a part of the population had to be provided with cheap food, the losses on the operation of the railways and other public undertakings met, and reparations payments made. The assistance of inflation is invoked whenever a government is unwilling to increase taxation or unable to raise a loan; that is the truth of the matter.

Mr. Colbert, the famous minister of Louis XIV, was a man of probity, of great industry and knowledge of detail, of great experience and acuteness in the examination of public accounts, and of abilities, in short, every way fitted for introducing method and good order into the collection and expenditure of the public revenue. That minister had unfortunately embraced all the prejudices of the mercantile system, in its nature and essence a system of restraint and regulation, and such as could scarce fail to be agreeable to a laborious and plodding man of business, who had been accustomed to regulate the different departments of public offices, and to establish the necessary checks and controls for confining each to its proper sphere. The industry and commerce of a great country he endeavoured to regulate upon the same model as the departments of a public office; and instead of allowing every man to pursue his own interest in his own way, upon the liberal plan of equality, liberty, and justice, he bestowed upon certain branches of industry extraordinary privileges, while he laid others under as extraordinary restraints.

In the early stages of the state, taxes are light in their incidence, but fetch in a large revenue; in the later stages the incidence of taxation increases while the aggregate revenue falls off. Now where taxes and imposts are light, private individuals are encouraged to engage actively in business; enterprise develops, because business men feel it worth their while, in view of the small share of their profits which they have to give up in the form of taxation. And as business prospers the number of taxes increases and the total yield of taxation grows. As time passes and kings succeed each other, they lose their tribal habits in favour of more civilized ones. Their needs and exigencies grow.... owing to the luxury in which they have been brought up. Hence they impose fresh taxes on their subjects -farmers, peasants, and others subject to taxation; sharply raise the rate of old taxes to increase their yield; and impose sales taxes and octrois, as we shall describe later. These increases grow with the spread of luxurious habits in the state, and the consequent growth in needs and public expenditure, until taxation burdens the subjects and deprives them of their gains. People get accustomed to this high level of taxation, because the increases have come about gradually, without anyone’s being aware of who exactly it was who raised the rates of the old taxes or imposed the new ones. But the effects on business of this rise in taxation make themselves felt. For business men are soon discouraged by the comparison of their profits with the burden of their taxes, and between their output and their net profits. Consequently production falls off, and with it the yield of taxation. The rulers may, mistakenly, try to remedy this decrease in the yield of taxation by raising the rate of the taxes; hence taxes and imposts reach a level which leaves no profits to business men, owing to high costs of production, heavy burden of taxation, and inadequate net profits. This process of higher tax rates and lower yields (caused by the government’s belief that higher rates result in higher returns) may go on until production begins to decline owing to the despair of business men, and to affect population. The main injury of this process is felt by the state, just as the main benefit of better business conditions is enjoyed by it. From this you must understand that the most important factor making for business prosperity is to lighten as much as possible the burden of taxation on business men, in order to encourage enterprise by giving assurance of greater profits.

All terrorism is fake. It is a military deception practiced by the rich upon the poor in an ongoing class war. Their most important weapon in this class war are television presenters. The BBC has actually become The Ministry of Truth of George Orwell’s 1984….Why is this happening right now? It’s happening because we no longer have an enemy. We have an unprecedented situation in which there is only one super state: the Anglo-American alliance…..The ruling group maintain their position in society by controlling the masses through fear. In order to make us believe that we must live in fear, the rich had to provide us with a new foreign enemy, a “bogeyman” who wants to conquer the world. The moment you have a world at peace, the keystone in the arch of ruling class power is gone. Every year America’s oligarchs take three trillion dollars out of America’s economy. This is how the rich have rigged the system – so that it benefits them at the expense of everyone else all of the time. To keep this fraud going, the public must be convinced of the need for military expenditure, and this is where all of the phony terror attacks come in. Here is Orwell’s definition of totalitarianism: ‘ A society living by and for continuous warfare in which the ruling caste have ceased to have any real function but succeed in clinging to power through force and fraud.

I think that in general, apart from expert opinion, there is too much respect paid to the opinions of others, both in great matters and in small ones. One should respect public opinion in so far as necessary to avoid starvation and to keep out of prison, but anything that goes beyond this is voluntary submission to an unnecessary tyranny, and is likely to interfere with happiness in all kinds of ways. Take, for example, the matter of expenditure. Very many people spend money in ways quite different from those that their natural tastes would enjoin, merely because they feel that the respect of their neighbours depends upon their possession of a good car and their ability to give good dinners. As a matter of fact, any man who can obviously afford a car but genuinely prefers travel or a good library will in the end be much more respected than if he behaved exactly like every one else. There is of course no point in deliberately flouting public opinion; this is still to be under its domination, though in a topsy-turvy way. But to be genuinely indifferent to it is both a strength and a source of happiness. And a society composed of men and women who do not bow too much to the conventions is a far more interesting society than one in which all behave alike. Where each person’s character is developed individually, differences in type are preserved, and it is worth while to meet new people, because they are not mere replicas of those whom one has met already.

The principal reason that districts within states often differ markedly in per-pupil expenditures is that school funding is almost always tied to property taxes, which are in turn a direct function of local wealth. Having school funding depend on local wealth creates a situation in which poor districts must tax themselves far more heavily than wealthy ones, yet still may not be able to generate adequate income. For example, Baltimore City is one of the poorest jurisdictions in Maryland, and the Baltimore City Public Schools have the lowest per-pupil instructional expenses of any of Maryland's 24 districts. Yet Baltimore's property tax rate is twice that of the next highest jurisdiction.(FN2) Before the funding equity decision in New Jersey, the impoverished East Orange district had one of the highest tax rates in the state, but spent only $3,000 per pupil, one of the lowest per-pupil expenditures in the state.(FN3) A similar story could be told in almost any state in the U.S.(FN4) Funding formulas work systematically against children who happen to be located in high-poverty districts, but also reflect idiosyncratic local circumstances. For example, a factory closing can bankrupt a small school district. What sense does it make for children's education to suffer based on local accidents of geography or economics? To my knowledge, the U.S. is the only nation to fund elementary and secondary education based on local wealth. Other developed countries either equalize funding or provide extra funding for individuals or groups felt to need it. In the Netherlands, for example, national funding is provided to all schools based on the number of pupils enrolled, but for every guilder allocated to a middle-class Dutch child, 1.25 guilders are allocated for a lower-class child and 1.9 guilders for a minority child, exactly the opposite of the situation in the U.S. where lower-class and minority children typically receive less than middle-class white children.(FN5) Regional differences in per-pupil costs may exist in other countries, but the situation in which underfunded urban or rural districts exist in close proximity to wealthy suburban districts is probably uniquely American. Of course, even equality in per-pupil costs in no way ensures equality in educational services. Not only do poor districts typically have fewer funds, they also have greater needs.

For the first year Nazi economic policies, which were largely determined by Dr. Schacht—for Hitler was bored with economics, of which he had an almost total ignorance—were devoted largely to putting the unemployed back to work by means of greatly expanded public works and the stimulation of private enterprise. Government credit was furnished by the creation of special unemployment bills, and tax relief was generously given to firms which raised their capital expenditures and increased employment. But the real basis of Germany’s recovery was rearmament, to which the Nazi regime directed the energies of business and labor—as well as of the generals—from 1934 on. The whole German economy came to be known in Nazi parlance as Wehrwirtschaft, or war economy, and it was deliberately designed to function not only in time of war but during the peace that led to war.

What the turbulent months of the campaign and the election revealed most of all, I think, was that the American people were voicing a profound demand for change. On the one hand, the Humphrey people were demanding a Marshall Plan for our diseased cities and an economic solution to our social problems. The Nixon and Wallace supporters, on the other hand, were making their own limited demands for change. They wanted more "law and order," to be achieved not through federal spending but through police, Mace, and the National Guard. We must recognize and accept the demand for change, but now we must struggle to give it a progressive direction. For the immediate agenda, I would make four proposals. First, the Electoral College should be eliminated. It is archaic, undemocratic, and potentially very dangerous. Had Nixon not achieved a majority of the electoral votes, Wallace might have been in the position to choose and influence our next President. A shift of only 46,000 votes in the states of Alaska, Delaware, New Jersey, and Missouri would have brought us to that impasse. We should do away with this system, which can give a minority and reactionary candidate so much power and replace it with one that provides for the popular election of the President. It is to be hoped that a reform bill to this effect will emerge from the hearings that will soon be conducted by Senator Birch Bayh of Indiana. Second, a simplified national registration law should be passed that provides for universal permanent registration and an end to residence requirements. Our present system discriminates against the poor who are always underregistered, often because they must frequently relocate their residence, either in search of better employment and living conditions or as a result of such poorly planned programs as urban renewal (which has been called Negro removal). Third, the cost of the presidential campaigns should come from the public treasury and not from private individuals. Nixon, who had the backing of wealthy corporate executives, spent $21 million on his campaign. Humphrey's expenditures totaled only $9.7 million. A system so heavily biased in favor of the rich cannot rightly be called democratic. And finally, we must maintain order in our public meetings. It was disgraceful that each candidate, for both the presidency and the vice-presidency, had to be surrounded by cordons of police in order to address an audience. And even then, hecklers were able to drown him out. There is no possibility for rational discourse, a prerequisite for democracy, under such conditions. If we are to have civility in our civil life, we must not permit a minority to disrupt our public gatherings.

George Romney’s private-sector experience typified the business world of his time. His executive career took place within a single company, American Motors Corporation, where his success rested on the dogged (and prescient) pursuit of more fuel-efficient cars.41 Rooted in a particular locale, the industrial Midwest, AMC was built on a philosophy of civic engagement. Romney dismissed the “rugged individualism” touted by conservatives as “nothing but a political banner to cover up greed.”42 Nor was this dismissal just cheap talk: He once returned a substantial bonus that he regarded as excessive.43 Prosperity was not an individual product, in Romney’s view; it was generated through bargaining and compromises among stakeholders (managers, workers, public officials, and the local community) as well as through individual initiative. When George Romney turned to politics, he carried this understanding with him. Romney exemplified the moderate perspective characteristic of many high-profile Republicans of his day. He stressed the importance of private initiative and decentralized governance, and worried about the power of unions. Yet he also believed that government had a vital role to play in securing prosperity for all. He once famously called UAW head Walter Reuther “the most dangerous man in Detroit,” but then, characteristically, developed a good working relationship with him.44 Elected governor in 1962 after working to update Michigan’s constitution, he broke with conservatives in his own party and worked across party lines to raise the minimum wage, enact an income tax, double state education expenditures during his first five years in office, and introduce more generous programs for the poor and unemployed.45 He signed into law a bill giving teachers collective bargaining rights.46 At a time when conservatives were turning to the antigovernment individualism of Barry Goldwater, Romney called on the GOP to make the insurance of equal opportunity a top priority. As

As I see it, the War on Drugs—more than any other government program or political initiative—gave rise to mass incarceration as defined above. Although the political dynamics that gave birth to the system date back to slavery, the drug war marked an important turning point in American history, one that cannot be measured simply by counting heads in prisons and jails. The declaration and escalation of the War on Drugs marked a moment in our past when a group of people defined by race and class was viewed and treated as the “enemy.” A literal war was declared on a highly vulnerable population, leading to a wave of punitiveness that permeated every aspect of our criminal justice system and redefined the scope of fundamental constitutional rights. The war mentality resulted in the militarization of local police departments and billions invested in drug law enforcement at the state and local levels. It also contributed to astronomical expenditures for prison building for people convicted of all crimes and the slashing of billions from education, public housing and welfare programs, as well as a slew of legislation authorizing legal discrimination against millions of people accused of drug offenses, denying them access to housing, food stamps, credit, basic public benefits, and financial aid for schooling. This war did not merely increase the number of people in prisons and jails. It radically altered the life course of millions, especially black men who were the primary targets in the early decades of the war. Their lives and families were destroyed for drug crimes that were largely ignored on the other side of town. Those who define “mass incarceration” narrowly, to include only individuals currently locked in prisons or jails, erase from public view the overwhelming majority of

The Seventh Central Pay Commission was appointed in February 2014 by the Government of India (Ministry of Finance) under the Chairmanship of Justice Ashok Kumar Mathur. The Commission has been given 18 months to make its recommendations. The terms of reference of the Commission are as follows:  1. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure including pay, allowances and other facilities/benefits, in cash or kind, having regard to rationalisation and simplification therein as well as the specialised needs of various departments, agencies and services, in respect of the following categories of employees:-  (i) Central Government employees—industrial and non-industrial; (ii) Personnel belonging to the All India Services; (iii) Personnel of the Union Territories; (iv) Officers and employees of the Indian Audit and Accounts Department; (v) Members of the regulatory bodies (excluding the RBI) set up under the Acts of Parliament; and (vi) Officers and employees of the Supreme Court.   2. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure, concessions and facilities/benefits, in cash or kind, as well as the retirement benefits of the personnel belonging to the Defence Forces, having regard to the historical and traditional parties, with due emphasis on the aspects unique to these personnel.   3. To work out the framework for an emoluments structure linked with the need to attract the most suitable talent to government service, promote efficiency, accountability and responsibility in the work culture, and foster excellence in the public governance system to respond to the complex challenges of modern administration and the rapid political, social, economic and technological changes, with due regard to expectations of stakeholders, and to recommend appropriate training and capacity building through a competency based framework.   4. To examine the existing schemes of payment of bonus, keeping in view, inter-alia, its bearing upon performance and productivity and make recommendations on the general principles, financial parameters and conditions for an appropriate incentive scheme to reward excellence in productivity, performance and integrity.   5. To review the variety of existing allowances presently available to employees in addition to pay and suggest their rationalisation and simplification with a view to ensuring that the pay structure is so designed as to take these into account.   6. To examine the principles which should govern the structure of pension and other retirement benefits, including revision of pension in the case of employees who have retired prior to the date of effect of these recommendations, keeping in view that retirement benefits of all Central Government employees appointed on and after 01.01.2004 are covered by the New Pension Scheme (NPS).   7. To make recommendations on the above, keeping in view:  (i) the economic conditions in the country and the need for fiscal prudence; (ii) the need to ensure that adequate resources are available for developmental expenditures and welfare measures; (iii) the likely impact of the recommendations on the finances of the state governments, which usually adopt the recommendations with some modifications; (iv) the prevailing emolument structure and retirement benefits available to employees of Central Public Sector Undertakings; and (v) the best global practices and their adaptability and relevance in Indian conditions.   8. To recommend the date of effect of its recommendations on all the above.

Keynes was a voracious reader. He had what he called ‘one of the best of all gifts – the eye which can pick up the print effortlessly’. If one was to be a good reader, that is to read as easily as one breathed, practice was needed. ‘I read the newspapers because they’re mostly trash,’ he said in 1936. ‘Newspapers are good practice in learning how to skip; and, if he is not to lose his time, every serious reader must have this art.’ Travelling by train from New York to Washington in 1943, Keynes awed his fellow passengers by the speed with which he devoured newspapers and periodicals as well as discussing modern art, the desolate American landscape and the absence of birds compared with English countryside.54 ‘As a general rule,’ Keynes propounded as an undergraduate, ‘I hate books that end badly; I always want the characters to be happy.’ Thirty years later he deplored contemporary novels as ‘heavy-going’, with ‘such misunderstood, mishandled, misshapen, such muddled handling of human hopes’. Self-indulgent regrets, defeatism, railing against fate, gloom about future prospects: all these were anathema to Keynes in literature as in life. The modern classic he recommended in 1936 was Forster’s A Room with a View, which had been published nearly thirty years earlier. He was, however, grateful for the ‘perfect relaxation’ provided by those ‘unpretending, workmanlike, ingenious, abundant, delightful heaven-sent entertainers’, Agatha Christie, Edgar Wallace and P. G. Wodehouse. ‘There is a great purity in these writers, a remarkable absence of falsity and fudge, so that they live and move, serene, Olympian and aloof, free from any pretended contact with the realities of life.’ Keynes preferred memoirs as ‘more agreeable and amusing, so much more touching, bringing so much more of the pattern of life, than … the daydreams of a nervous wreck, which is the average modern novel’. He loved good theatre, settling into his seat at the first night of a production of Turgenev’s A Month in the Country with a blissful sigh and the words, ‘Ah! this is the loveliest play in all the world.’55 Rather as Keynes was a grabby eater, with table-manners that offended Norton and other Bloomsbury groupers, so he could be impatient to reach the end of books. In the inter-war period publishers used to have a ‘gathering’ of eight or sixteen pages at the back of their volumes to publicize their other books-in-print. He excised these advertisements while reading a book, so that as he turned a page he could always see how far he must go before finishing. A reader, said Keynes, should approach books ‘with all his senses; he should know their touch and their smell. He should learn how to take them in his hands, rustle their pages and reach in a few seconds a first intuitive impression of what they contain. He should … have touched many thousands, at least ten times as many as he reads. He should cast an eye over books as a shepherd over sheep, and judge them with the rapid, searching glance with which a cattle-dealer eyes cattle.’ Keynes in 1927 reproached his fellow countrymen for their low expenditure in bookshops. ‘How many people spend even £10 a year on books? How many spend 1 per cent of their incomes? To buy a book ought to be felt not as an extravagance, but as a good deed, a social duty which blesses him who does it.’ He wished to muster ‘a mighty army … of Bookworms, pledged to spend £10 a year on books, and, in the higher ranks of the Brotherhood, to buy a book a week’. Keynes was a votary of good bookshops, whether their stock was new or second-hand. ‘A bookshop is not like a railway booking-office which one approaches knowing what one wants. One should enter it vaguely, almost in a dream, and allow what is there freely to attract and influence the eye. To walk the rounds of the bookshops, dipping in as curiosity dictates, should be an afternoon’s entertainment.

capital expenditures required in Clean Technology are so incredibly high,” says Pritzker, “that I didn’t feel that I could do anything to make an impact, so I became interested in digital media, and established General Assembly in January 2010, along with Jake Schwartz, Brad Hargreaves and Matthew Brimer.” In less than two years GA had to double its space. In June 2012, they opened a second office in a nearby building. Since then, GA’s courses been attended by 15,000 students, the school has 70 full-time employees in New York, and it has begun to export its formula abroad—first to London and Berlin—with the ambitious goal of creating a global network of campuses “for technology, business and design.” In each location, Pritzker and his associates seek cooperation from the municipal administration, “because the projects need to be understood and supported also by the local authorities in a public-private partnership.” In fact, the New York launch was awarded a $200,000 grant from Mayor Bloomberg. “The humanistic education that we get in our universities teaches people to think critically and creatively, but it does not provide the skills to thrive in the work force in the 21st century,” continues Pritzker. “It’s also true that the college experience is valuable. The majority of your learning does not happen in the classroom. It happens in your dorm room or at dinner with friends. Even geniuses such as Mark Zuckerberg or Bill Gates, who both left Harvard to start their companies, came up with their ideas and met their co-founders in college.” Just as a college campus, GA has classrooms, whiteboard walls, a library, open spaces for casual meetings and discussions, bicycle parking, and lockers for personal belongings. But the emphasis is on “learning by doing” and gaining knowledge from those who are already working. Lectures can run the gamut from a single evening to a 16-week course, on subjects covering every conceivable matter relevant to technology startups— from how to create a web site to how to draw a logo, from seeking funding to hiring employees. But adjacent to the lecture halls, there is an area that hosts about 30 active startups in their infancy. “This is the core of our community,” says Pritzker, showing the open space that houses the startups. “Statistically, not all of these companies are going to do well. I do believe, though, that all these people will. The cost of building technology is dropping so low that people can actually afford to take the risk to learn by doing something that, in our minds, is a much more effective way to learn than anything else. It’s entrepreneurs who are in the field, learning by doing, putting journey before destination.” “Studying and working side by side is important, because from the interaction among people and the exchange of ideas, even informal, you learn, and other ideas are born,” Pritzker emphasizes: “The Internet has not rendered in-person meetings obsolete and useless. We chose these offices just to be easily accessible by all—close to Union Square where almost every subway line stops—in particular those coming from Brooklyn, where many of our students live.

Political life was defined by money. Having it, taking it and giving it were the principal concerns of the powerful. It was not just a matter of lavish expenditure on public shows or comfortable living in the innumerable houses that one man might possess; set amounts of capital were required for a man to become an equestrian – a knight – or a senator.

An overall picture of how a developing country with considerable amount of natural resources may get in trouble can be described by discussing the lack of absorption capacity where overspending on domestically produced goods leads to increased price level.Further, an inefficient choice of public policy cause poor economic performance through the mismanagement of budget expenditure. In this case governments undertake projects not to achieve social optimality rather to increase their fame. Hence “easy money” may easily lead to increased corrupt activities in contracting projects thereby affecting negatively the transparency level and the competitiveness of market economy

Embracing government activism, he asserted that the public benefit fully justified the government “in making expenditures in the direction that no private enterprise could afford to go.

And with policymakers still locked in the vise grip of austerity logic, these rising emergency expenditures are being offset with cuts to everyday public spending, which will make societies even more vulnerable during the next disaster—a classic vicious cycle.

we examined return on investment for communication expenditures for “most-excellent” and “least-excellent” programs. 6 In the survey, CEOs were asked to estimate benefits that their organizations received from the dollars or pounds invested in communication. If the CEO said the organization received one dollar back for each dollar spent on communication, then communication benefits were even with costs. If two dollars in benefits were received for each communication dollar spent, then communication provided the organization with a positive return on investment. The CEO's evaluation of return on investment is, admittedly, subjective. But consider this: The CEO's judgments about costs and benefits are the very judgments that will determine if your budget and staff increase or decrease next year! Further, no other manager in the organization has the same vantage point as the CEO. The average return on investment from the CEOs in organizations with most-excellent communication programs was $2.66 for every dollar invested in communication. In contrast, CEOs of organizations with least-excellent communication programs reported only a $1.46 average return on investment for each dollar spent on communication. CEOs with most-excellent communication programs—as defined by the Excellence Study and as isolated in the Excellence Factor—see greater return on investment for communication expenditures than do CEOs with least-excellent programs.

For what the world spends on defense every 2.5 hours, about $300 million, smallpox was eliminated back in the late seventies. For the price of a single new nuclear-attack submarine, $726 million to $1 billion, we could send 5 to 7.5 million Third World children to school for a year. For the price of a single B-l bomber, about $285 million, we could provide basic immunization treatments, such as shots for chicken pox, diphtheria, and measles, to the roughly 575 million children in the world who lack them, thus saving 2.5 million lives annually. For what the world spends on defense every forty hours, about $4.6 billion, we could provide sanitary water for every human being who currently lacks it. Looking at it another way, the roughly $290–$300 billion that the United States [spent] on defense in 1990 is greater than the total amount that Americans contribute to charity each year, about $100 billion, plus total federal, state, local, public, and private expenditures for education, roughly $150 billion, plus NASA’s entire budget of $7.6 billion, plus federal and state aid to families with dependent children, $16.3 billion, plus the cost of the entire federal judiciary and the Justice Department combined, $5.5 billion, plus federal transportation aid to state and local governments, $17.5 billion. … A single Stinger missile costs $40,000, or roughly 30 percent more than the income of the average American family, nearly twice more than the income of the average black American family, and about 400 percent more than the so-called poverty line … [and] the price of 2,000 rounds of 7.62-mm rifle or machine-gun ammunition, about $480.00, is slightly more than what the average Social Security beneficiary receives every month.” How do we wrap our minds around these priorities? Or

the creation of expectations about future growth is a crucial role for government, and not just during downturns. It is why mission-oriented innovation policy—bringing Keynes and Schumpeter together—has such an important role to play in driving stronger economic performance. Indeed, Keynes argued that the ‘socialisation of investment’—which, as Mazzucato suggests, could include the public sector acting as investor and equity-holder—would provide more stability to the investment function and hence to growth.53 It is because public expenditure is critical to the co-production of the conditions for growth, as Kelton highlights, that the austerity policies which have reduced it in the period since the financial crash have proved so futile, increasing rather than diminishing the ratio of debt to GDP. And as Wray and Nersisyan emphasise, the endogenous nature of money created by ‘keystrokes’ in the banking system gives governments far greater scope to use fiscal policy in support of economic growth than the orthodox approach allows.

When he came to study the country’s inequitable tax system, though, Necker was faced with complicated and intractable problems which he was quite incapable of resolving. The various taxes and duties levied in France – the gabelle, the traites, the aides as well as the capitation and the vingtièmes–were all, as he discovered, subject to variations, exemptions, inequalities in distribution and abuses in collection that made the evils of the system one of the principal causes of social unrest. Yet the increasing expenses of government and public works and the costs of the country’s wars – in particular France’s participation in the War of American Independence which involved expenditure of about 2,000 million livres–rendered the collection of further and more burdensome taxes inevitable unless the state were to slide ever deeper into bankruptcy.

Quoting Page 109: An Urban Institute study found that when public school costs were included, Mexican immigrant households in Los Angeles County in 1980 cost almost twice as much in state and local government expenditures than they paid in taxes.

The bailout of 2020—the largest expenditure of American public resources since World War II—solidified and entrenched an economic regime that had been quietly and steadily constructed, largely by the Federal Reserve, during the previous decade. The resources from this bailout went largely to the entities that were strengthened by the policies of ZIRP and QE. It went to large corporations that used borrowed money to buy out their competitors; it went to the very richest of Americans

We analyzed the ten tech companies worth over a billion dollars that went public in 2014 and 2015, and the average company spent a jaw-dropping $0.72 on sales and marketing for every $1.00 of sales during the three-year hypergrowth period before going public. As a matter of fact, one of the companies, Box, spent $1.59 for every $1.00 in sales! You’re probably wondering, how does a company like Box justify spending more money on sales and marketing than they generate in sales? The answer is “customer lifetime value.” Once Box mathematically proved that they could acquire a customer for less than the lifetime value (LTV) of that customer, they raised a war chest of investment capital and didn’t care if they spent more on sales and marketing than they generated in annual sales, because they knew that they would generate a big return in the long run. You probably don’t have access to a massive war chest of investment capital, but that doesn’t mean you are unable to invest more resources on growth. Instead of benchmarking your growth investment against customer lifetime value, benchmark against your bottom-line profits. Here is a list of financial scenarios and corresponding actions: If you desire growth and have a profitable business, operate at a break-even point and reinvest the profit, or a portion of the profit, back into growth. If you are running a break-even or unprofitable business, spend some time going through your expenditures looking for redundancies or unnecessary expenses. If you cannot find any opportunities to save money, prepare yourself to take a temporary pay cut (you can time this around your tax refund or right after your busy period if your business has seasonality). If you are unable to take a temporary pay cut, prepare yourself to work some extra hours (start by batching activities so you can spend a day per week working from home, and use the time you save when not having a work commute to invest in growth). If you are unable to take a temporary pay cut AND unable to work any extra hours, then read the paragraph below.

According to Mises, the problem was not that managers might be corrupt or criminally negligent but rather that “every service can be improved by increasing expenditures.”60 A good public sector manager would therefore fight for more funds and resources. The only way to limit the discretion of such a manager was through rules and regulations: The management is under the necessity of abiding by a code of instructions; this alone matters. The manager is not answerable if his actions are correct from the point of view of this code. His main task cannot be efficiency as such, but efficiency within the limits of subservience to the regulations.

As a result of the reductions in public expenditure, Butler Britain is providing a two-tier justice system. Wealthy individuals or companies can buy justice in a way that ordinary people cannot.

First, caloric intake increases in response to exercise—we just eat more following a vigorous workout. (They don’t call it ‘working up an appetite’ for nothing.) A prospective cohort study of 538 students from the Harvard School of Public Health found that ‘although physical activity is thought of as an energy deficit activity, our estimates do not support this hypothesis.’15 For every extra hour of exercise, the kids ate an extra 292 calories. Caloric intake and expenditure are intimately related: increasing one will cause an increase in the other. This is the biological principle of homeostasis.

The earlier and cruder method of advertisement held its ground so long as the public to which the exhibitor had to appeal comprised large portions of the community who were not trained to detect delicate variations in the evidences of wealth and leisure. The method of advertisement undergoes refinement when a sufficiently large wealthy class has developed, who have the leisure for acquiring skill in interpreting the subtler signs of expenditure. 'Loud' dress becomes offensive to people of taste, as evincing an undue desire to reach and impress the untrained sensibilities of the vulgar. To the individual of high breeding it is only the more honorific esteem accorded by the cultivated sense of the members of his own high class that is of material consequence. Since the wealthy leisure class has grown so large, or the contact of the leisure-class individual with members of his own class has grown so wide, as to constitute a human environment sufficient for the honorific purpose, there arises a tendency to exclude the baser elements of the population from the scheme even as spectators whose applause or mortification should be sought. The result of all this is a refinement of methods, a resort to subtler contrivances, and a spiritualisation of the scheme of symbolism in dress. And as this upper leisure class sets the pace in all matters of decency, the result for the rest of society also is a gradual amelioration of the scheme of dress. As the community advances in wealth and culture, the ability to pay is put in evidence by means which require a progressively nicer discrimination in the beholder. This nicer discrimination between advertising media is in fact a very large element of the higher pecuniary culture.

As the 2019 elections were approaching, the Modi government felt the need to appear less pro-rich and more pro-poor again. But the union budget passed in February was somewhat a missed opportunity so far as the peasants were concerned. No loan waivers were announced in their favor, simply an enhanced interest subvention on loans and an annual income support of Rs 6,000 (80 USD)—6 percent of a small farmer’s yearly income—to all farmers’ households owning two hectares or fewer.131 In fact, the union budget was once again more geared to pleasing the middle class. The income tax exemption limit jumped from Rs 200,000 (2,667 USD) to 250,000 (3,333 USD), and the income tax rate up to Rs 5 lakh (6,667 USD) was reduced from 10 to 5 percent. The income tax on an income of Rs 10 lakh (13,333 USD) dropped from Rs 110,210 (1,470 USD) to Rs 75,000 (1,000 USD).132 The poor were doubly affected by the fiscal policy of the Modi government in 2014–2019: not only did the tax cuts in favor of the middle class, the abolition of the wealth tax, and, more importantly, the reduction of the corporate tax rates have to be offset by increased indirect taxes, but the stagnation of fiscal resources did not allow the government of India to spend more on public education and public health—all the more so as Narendra Modi wanted to reduce the fiscal deficit. First of all, tax collection diminished. The exchequer “lost” Rs 1.45 lakh crore (1.933 billion USD) in the reduction of the corporate tax, for instance. That was the main reason why gross direct tax collection dipped 4.92 percent133 in 2019–2020, a fiscal year during which gross tax collections were less than those in 2018–2019. Tax collections had never declined on a year-on-year basis since 1961–1962.134 Second, government expenditures diminished. The central government reduced its spending on education from 0.63 percent of GDP in 2013–2014 to 0.47 percent in 2017–2018. The trend was marginally better on the public health front, where the Center’s spending declined from 0.37 percent of GDP in 2013–2014 to 0.34 percent in 2015–2016, before rising again to reach 0.38 percent in 2016–2017.

Is it really safe to invest in stocks? To answer that question, we would really first need to ask ourselves: what is safe after all? More so, what is safe in business? The answer would be “NOTHING”. Here it is – the stark reality: all businesses have their risks and as far as risks are concerned, the stock market is just another kind of business; that is it! All deep-rooted and unbeaten stock market will advise you on the affirmative. Yet the faint possibility remains that you, at the same time, will without doubt happen upon other stock market players who have done pathetically in the stock market. These traders, when their opinion is sought, will not leave a stone unturned in advising you to steer clear of the stock market. Mystified whose advice you should take? Fine, both are correct in their own points of view. To cross the threshold into well-paid stock market share trading in the marketplace of any place in the human race, it is to a great extent compulsory that you are geared up with the inclusive fluency of the sod above and beyond in receipt of rationalized with the up to date market shifts so that you prefer no less than probable stocks. In essence then can day businesses bear out valuable? If you are in a job in a different place and are unable to have a look at the trade area under conversation well again, it is advisable that you should not make your mind up on daylight trading. You will in point of fact happen upon other forms of trade which do not necessitate your day and night inspection. You in all probability will chew over those as well. Affecting the traders It would also be a reasonable word of warning to say publicly that the stock market affects different types of traders differently. There are cases in point of a lot of investors who have become cleaned out. Putting on next to nothing information and gambling into the share market perceiving others producing immense wealth possibly will provide evidence of being hazardous for you. You could wind up bringing up the rear to your richly deserved wealth and habitual failures will very soon plead your case before you to make your way out from the stock market panorama. Stage-managing and putting on unconditional awareness previous to putting money in will certainly twirl the bazaar in your prop up. Outline your objectives You will of course call for to outline your objectives and endeavor to come across the varied working expenditure alternatives in the stock market. At the beginning decide on fragile investments with the intention that even though you put on or incur fatalities, you will in next to no time gain knowledge of the ins and outs of the deal. Just the once you are contented, you can settle on volume funds. You in all probability will decide on each and every one of the three dealing preferences, specifically day business, short-term trading and enduring investment. At one fell swoop given your institution of resource of profits is exclusively the stock market; you will be able to broaden the horizons of your venture ambitions to a larger extent, for instance conjecture in mutual funds, money futures, product futures, and supplementary endeavor goods. You can accordingly keep up equilibrium of your ventures and disappointments if a few will by a hair's breadth inconvenience you. Seeking singular venture alternatives will additionally comply to you eloquent which one goes well with you the most excellent and you can in that case put in funds in capacity in the unwritten prospect. Make the best use of stock market It often comes to our notice that the stock market if used fine provides us with an exceptionally excellent occasion to put together loads of wealth and in addition utilize the stock market as our principal foundation of revenue. There are also the risks yet the faint possibility remains that risks are everywhere, in every trade.

Mrs. Featherstone Hogg was its most valuable publicity agent; she went round in her car distributing invitations to her drawing-room meeting and copies of Disturber of the Peace to all those who had not read it. She did not realize that John Smith obtained royalties upon every copy of this book that was sold, or she would have confined her expenditure upon the book to narrower limits. It would have distressed her exceedingly to think that she was putting money into the pocket of the detestable John Smith.

Wars against the barbarians, with all their attendant trials and tribulations he was prepared to face himself, but the entire administration of affairs, the choice of civil magistrates, the accounts of the imperial revenues and expenditure he left to his mother. At this point the reader may well censure him for transferring the government of the Empire to the gynaeconitis, but had he known this woman’s spirit, her surpassing virtue, intelligence and energy, his reproaches would soon have turned to admiration. For my grandmother had an exceptional grasp of public affairs, with a genius for organization and government; she was capable, in fact, of managing not only the Roman Empire, but every other empire under the sun as well.

Corporations declare more than $2.6 billion in lobbying expenditures each year. “For every dollar that unions and public interest groups spend, large corporations and their associations now spend $34.

Without a sense of purpose,” he explained, “no company, either public or private, can achieve its full potential. It will ultimately lose the license to operate from key stakeholders. It will succumb to short-term pressures to distribute earnings, and, in the process, sacrifice investments in employee development, innovation, and capital expenditures that are necessary for long-term growth.

The seminal case in American campaign finance is Buckley v. Valeo (424 U.S. 1 (1976)), in which the contribution and spending limitations enacted in the early 1970s with the Federal Election Campaign Act (FECA) were challenged on First Amendment grounds. The FECA was a significant, wide-ranging reform that had for the first time created a meaningful regulatory environment in federal campaign finance. The law implemented statutory campaign contribution limits, and also originally mandated spending limitations for congressional campaigns. Moreover, the FECA barred all expenditures made by either private citizens or groups “advocating the election or defeat of (a) candidate” in excess of $1,000 per annum. In Buckley, the Supreme Court held that while contribution limits were constitutional, there could be no prohibition on either individuals or candidates looking to spend their own money to directly communicate a political message. The distinction between contributions and direct spending in Buckley is based on two premises. First, the government has an interest in preventing instances of corruption, or even in limiting public perceptions of corruption. Second, money spent on election communications effectively equates to speech in the modern political realm, so more money spent in this manner is equivalent to more speech. In contrast, the act of contribution by an individual to a candidate, party, or PAC is itself an expressive act.

But now imagine bigger: the ultimate e-government system would allow citizens to track all revenue and expenditures of their government. With a few exceptions, such as personnel decisions, every meeting would be recorded and every email made public. That means every procurement deliberation would be documented, and every receipt for every expenditure would be openly available. While such a system wouldn’t eliminate graft, it would make it considerably easier to catch and identify the culprits. Politicians and bureaucrats would still steal, but over time the most egregious excesses could be eliminated. Why would a politician ever allow such an encroachment on their gravy train? The best rationale would be leverage from the international donor community. Much of Africa remains heavily dependent on foreign aid. Instead of allowing leaders to siphon off hundreds of millions to put in their Swiss bank accounts, why not require rigorous e-government so that everything can be tracked?

From the outset, Dr. Fauci’s experiments served his vain obsession to develop an HIV vaccine. (Despite these expenditures of tens of billions of dollars, he has failed—for forty years—to ever develop an HIV vaccine that was safe or effective for human use.) Medical records that NIAID ultimately and reluctantly released proved that Dr. Fauci’s PIs were testing his dangerous vaccines on children from one month to eighteen years old.

the gross national product could no longer be confused with our gross national happiness. the fact that any such movement would be resisted tooth and nail, points to the heart of the problem. the influence of major corporations, not only on the economy, but also on the government, and on our ways of thinking. US militarism and foreign policy over the last century or so, cannot be comprehended without noticing how they have served the interests of big American companies, rather than the American people. our public priorities make little sense, attacking Iraq, enormous military expenditure, no national health system, the growing gap between rich and poor, etc., without understanding the role of corporate media in capturing our attention and moulding our opinions. in a country that prides itself on its democratic traditions, they are the means by which self-serving elites have gained control over national priorities.

Whatever the association, bicyclists commingling with motor vehicle traffic are still considered oddities: not fully American; not equally deserving of protection or public expenditure; parasites on the gasoline taxes paid by automobile drivers; and symbols of white, middle-class, urban, environmentalist elitism. Bicyclists remain “them,” not “us.

In 1955, government spending accounted for roughly 22 percent of the economy, and it stayed that way for years. But during the last quarter of the twentieth century, public investments began to decline. By 2021, government spending on all public goods—including national defense, transportation, health expenditures, and programs to ease the pain of poverty—made up just 17.6 percent of GDP.

In 1955, government spending accounted for roughly 22 percent of the economy, and it stayed that way for years. But during the last quarter of the twentieth century, public investments began to decline. By 2021, government spending on all public goods—including national defense, transportation, health expenditures, and programs to ease the pain of poverty—made up just 17.6 percent of GDP. Meanwhile, personal consumption grew from about 60 percent of GDP to 69 percent over that same period.[

It is the term “social welfare” that allows some leeway for groups who might be inclined to participate in federal politics, as it can be argued that political advocacy falls within the broad umbrella of promoting the common good. The 501(c)(4) designation therefore allows groups to conduct political activities, but it also affords an additional benefit: 501(c)(4) groups are not required to disclose their donors to the FEC. This latter point became particularly important in the wake of Citizens United. The 527 organizations that began gaining notoriety for their activities in 2004 had long been allowed to pursue political activities exclusively, and had been required to disclose their donors even before passage of the BCRA. Although the BCRA limitations on “express advocacy” constrained the 527s somewhat, the rules did provide an outlet for unlimited—albeit disclosed—contributions for issue advertising prior to 2010. There was effectively no benefit of seeking 501(c)(4) tax status during this period, however. Since the IRS prior to 2010 employed a broad definition of political activities prohibited for 501(c) groups, there was little reason to risk running afoul of the tax code. Groups with a primarily political purpose could achieve tax-free status and avoid IRS scrutiny by organizing as a 527 group and disclosing their donors.15 In expanding permissible election-related activity however, the Citizens United decision immediately made 501(c)(4)s a more attractive option for groups looking to make independent expenditures. Importantly, because they are primarily defined as nonprofit “social welfare” organizations as opposed to political committees, 501(c)(4)s are not allowed to make or sponsor advertisements naming a candidate their primary activity, meaning that they must constrain their election-related spending to half of their overall expenditures. Yet, if corporations and other groups could not be stopped from spending money in elections—even for express advocacy—in the wake of Citizens United, it was considerably more difficult for the IRS to stop a 501(c) group from doing so either. After Citizens United, 501(c)(4)s therefore differed little from 527s either in the type of activities they could legally spend money on or the size of the contributions they could receive. However, the lack of a disclosure requirement for 501(c)(4)s provides a considerable advantage compared to 527s. Seeking 501(c)(4) status in the post–Citizens United world therefore seems like a prudent move for groups wanting to accept unlimited contributions, but who might not be inclined to publicize their donor lists: At present, 501(c)(4)s can pursue electioneering activities using anonymous unlimited funders so long as their activities can plausibly be defended as contributing to the social welfare (broadly defined) and so long as political spending does not constitute their “primary” expenditure (Luo 2010). In practice, the IRS/FEC has taken “primary” to mean more than half of a group’s overall expenditures.

We have the money. We've just made choices about how to spend it. Over the years, lawmakers on both sides of the aisle have restricted housing aid to the poor but expanded it to the affluent in the form of tax benefits for homeowners. Today, housing-related tax expenditures far outpace those for housing assistance. In 2008, the year Arleen was evicted from Thirteenth Street, federal expenditures for direct housing assistance totaled less than $40.2 billion, but homeowner tax benefits exceeded $171 billion. That number, $171 billion, was equivalent to the 2008 budgets for the Department of Education, the Department of Veterans Affairs, the Department of Homeland Security, the Department of Justice, and the Department of Agriculture combined. Each year, we spend three times what a universal housing voucher program is estimated to cost (in total) on homeowner benefits, like the mortgage-interest deduction and the capital-gains exclusion. Most federal housing subsidies benefit families with six-figure incomes. If we are going to spend the bulk of our public dollars on the affluent - at least when it comes to housing - we should own up to that decision and stop repeating the politicians' canard about one of the richest countries on the planet being unable to afford doing more. If poverty persists in America, it is not for lack of resources.

MY RECOMMENDATION Below is my advice about regarding selling SpaceX stock or options. No complicated analysis is required, as the rules of thumb are pretty simple. If you believe that SpaceX will execute better than the average public company, then our stock price will continue to appreciate at a rate greater than that of the stock market, which would be the next highest return place to invest money over the long term. Therefore, you should sell only the amount that you need to improve your standard of living in the short to medium term. I do actually recommend selling some amount of stock, even if you are certain it will appreciate, as life is short and a bit more cash can increase fun and reduce stress at home (so long as you don’t ratchet up your ongoing personal expenditures proportionately). To maximize your post tax return, you are probably best off exercising your options to convert them to stock (if you can afford to do this) and then holding the stock for a year before selling it at our roughly biannual liquidity events. This allows you to pay the capital gains tax rate, instead of the income tax rate.

The present archaic administrative and financial systems inherited from colonial days continue to operate with minor modifications, even though the exercise of state power has altered. Today, both administrative and financial powers are exercised by the elected representatives and permanent bureaucracy at five different levels: Central, state, zilla panchayat, block panchayat and village panchayat. However, there is complete asymmetry between the rules governing the conduct of business, and this present system of administration. The Service Rules, Disciplinary Rules, Financial Accountability Statutes, Rules of Business have not been adjusted to the present system of administration and in this asymmetry, corruption rules. There are no financial or administrative codes for elected representatives exercising such powers, no accountability or disciplinary rules governing them, even though they are the final authorities to authorize the expenditure of public money. Financial malfeasance by political custodians of public money can only be punished by the usual IPC provisions applicable to all citizens, and the Prevention of Corruption Act, the operation of which is optional in state governments. It is this lacuna that gives phenomenal opportunity to the politician-bureaucrat nexus to flourish, and prevents development funds from reaching target groups. Long years of working with archaic financial procedures have given the bureaucracy a unique specialization in circumventing regulatory provisions, and providing perfect paperwork to satisfy their requirements. Behind every corrupt bureaucrat will be a protective politician, and behind every corrupt politician will be a bevy of carefully selected, supporting bureaucrats.

With this latest largesse, public expenditures have tripled since 2004, while the private sector’s contribution to non-oil GDP has stagnated.

For three decades following the war, economists, politicians, commentators and citizens all agreed that high public expenditure, administered by local or national authorities with considerable latitude to regulate economic life at many levels, was good policy.

The priorities of the traditional state were defense, public order, the prevention of epidemics and the aversion of mass discontent. But following World War II, and peaking around 1980, social expenditure became the main budgetary responsibility for modern states.

The variables which were apt for management by central authorities were interest rates and taxation, which he proposed that governments should adjust in order to stimulate investment and to seek full employment. However, he said little of emergency public works, and nothing about fiscal methods of demand management. He did not recommend increasing the government’s current expenditure by running a budget deficit to meet a deficiency of demand. He gave no encouragement to profligate finance ministers. He urged that additional government expenditure should be on capital account and financed from a separate capital budget while so far as possible the regular budget should be kept in balance. He suggested that full employment might be maintained by redistribution of income. If wealth was more equitably dispersed in the population, effective demand would be stimulated and would thus help capital growth. As the scarcity of capital diminished, investors would be rewarded less. He never believed that state planning would eliminate economic instability. He saw national economies as inherently wobbling: they were susceptible to rational management, but with irrational elements.73

The vast majority of major, collaborative infrastructure projects around the world have been guided by government policy and funded by public resources: sanitation systems, road systems, railway networks, public health systems, national power grids, the postal service. These are not the spontaneous outcomes of market forces, much less of abstract growth. Projects like these require public investment. Once we realise this, it becomes clear that we can fund the transition quite easily by directing existing public resources from, say, fossil fuel subsidies (which presently stand at $5.2 trillion, 6.5% of global GDP) and military expenditure ($1.8 trillion) into solar panels, batteries and wind turbines.

The declaration and escalation of the War on Drugs marked a moment in our past when a group of people defined by race and class was viewed and treated as the 'enemy.' A literal war was declared on a highly vulnerable population, leading to a wave of punitiveness that permeated every aspect of our criminal justice system and redefined the scope of fundamental constitutional rights. The war mentality resulted in the militarization of local police departments and billions invested in drug law enforcement at the state and local levels. It also contributed to astronomical expenditures for prison building for people convicted of all crimes and the slashing of billions from education, public housing and welfare programs, as well as a slew of legislation authorizing legal discrimination against millions of people accused of drug offenses, denying them access to housing, food stamps, credit, basic public benefits, and financial aid for schooling. This war did not merely increase the number of people in prisons and jails. It radically altered the life course of millions, especially black men who were the primary targets in the early decades of the war. Their lives and families were destroyed for drug crimes that were largely ignored on the other side of town. Those who define 'mass incarceration' narrowly, to include only individuals currently locked in prisons or jails, erase from public view the overwhelming majority of people ensnared by the system. Twice as many people are on probation or parole in this country as are locked in literal cages. The United States has a staggering 2.3 million people in prison-a higher rate of incarceration than any country in the world-but it also has another 4.5 million people under state control outside of prisons, on probation or parole. More than 70 million Americans-over 20 percent of the entire U.S. population, overwhelming poor and disproportionately people of color-now have criminal records that authorize legal discrimination for life. The New Jim Crow was intended to help people see that it is a serious mistake to think of mass incarceration as simply a problem of too many people in prisons and jails. It is that, but it is also much, much more. Prison statistics barely begin to capture the enormity of this crisis. And yet for too many, the discussion begins and ends there.

No major politician or party has so much as publicly remarked on the existence of an American empire. Imperial power is not about restraint, and the consequences of empire are evident in domestic politics: in military expenditures, subsidies to globalizing corporations, mounting deficits, and the decimation of social programs and environmental safeguards.

While at INR, I attended an Agency briefing at Langley. Of the Agency’s four chief divisions (Intelligence, Operations, Science and Technology, Administration), the largest portion of its invisible budget goes to Operations (clandestine activity). The CIA refuses to obey one of the most basic tenets of the Constitution: No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time. Article I, Section 9. Its budget is never published and its funds are, for the most part, hidden in the accounts of allegedly legitimate agencies. This voodoo bookkeeping helps deceive the American people and their representatives in Congress about the Agency’s real activities. No numbers are ever available for its “front” companies’ resources.

It’s all part of the life-cycle of an economy.  First it’s lawless capitalism until that starts to impede growth.  Next comes regulation, law enforcement, and taxes.  After that: public benefits and entitlements.  Then, finally, over-expenditure and collapse.” -Andy Weir,

What the advertiser needs to know is not what is right about the product but what is wrong about the buyer. And so, the balance of business expenditures shifts from product research to market research. The television commercial has oriented business away from making products of value and toward making consumers feel valuable, which means that the business of business has now become pseudo-therapy. The consumer is a patient assured by psycho-dramas.

A standard IMF package often involves, among other things, the following “conditionalities”: 1) devaluation of currency; 2) tight monetary and fiscal constraints; 3) budget cuts, with sharply reduced public expenditures; 4) a wage freeze; and 5) sharp reduction or elimination of import and price subsidies.

The view has been gaining widespread acceptance that corporate officials and labor leaders have a “social responsibility” that goes beyond serving the interest of their stockholders or their members. This view shows a fundamental misconception of the character and nature of a free economy. In such an economy, there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition, without deception or fraud….It is the responsibility of the rest of us to establish a framework of law such that an individual in pursuing his own interest is, to quote Adam Smith again, “led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest, he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.” Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible. This is a fundamentally subversive doctrine. If businessmen do have a social responsibility other than making maximum profits for stockholders, how are they to know what it is? Can self-selected private individuals decide what the social interest is? Can they decide how great a burden they are justified in placing on themselves or their stockholders to serve that social interest? Is it tolerable that these public functions of taxation, expenditure, and control be exercised by the people who happen at the moment to be in charge of particular enterprises, chosen for those posts by strictly private groups? If businessmen are civil servants rather than the employees of their stockholders then in a democracy they will, sooner or later, be chosen by the public techniques of election and appointment.

Nothing is more certain than that whatever has to court public favor for its support will sooner or later be prostituted to utilitarian ends. The educational institutions of the United States afford a striking demonstration of this truth. Virtually without exception, liberal education, that is to say, education centered about ideas and ideals, has fared best in those institutions which draw their income from private sources. They have been able, despite limitations which donors have sought to lay upon them, to insist that education be not entirely a means of breadwinning. This means that they have been relatively free to promote pure knowledge and the training of the mind; they have afforded a last stand for “antisocial” studies like Latin and Greek. In state institutions, always at the mercy of elected bodies and of the public generally, and under obligation to show practical fruits for their expenditure of money, the movement toward specialism and vocationalism has been irresistible. They have never been able to say that they will do what they will with their own because their own is not private. It seems fair to say that the opposite of the private is the prostitute. Not

After more than a century of compulsory democracy, the predictable results are before our very eyes. The tax load imposed on property owners and producers makes the economic burden even of slaves and serfs seem moderate in comparison. Government debt has risen to breathtaking heights. Gold has been replaced by government manufactured paper as money, and its value has continually dwindled. Every detail of private life, property, trade, and contract is regulated by ever higher mountains of paper laws (legislation). In the name of social, public or national security, our caretakers "protect" us from global warming and cooling and the extinction of animals and plants, from husbands and wives, parents and employers, poverty, disease, disaster, ignorance, prejudice, racism, sexism, homophobia, and countless other public enemies and dangers. And with enormous stockpiles of weapons of aggression and mass destruction they "defend" us, even outside of the U.S., from ever new Hitlers and all suspected Hitlerite sympathizers. However, the only task a government was ever supposed to assume - of protecting our life and property - our caretakers do not perform. To the contrary, the higher the expenditures on social, public, and national security have risen, the more our private property rights have been eroded, the more our property has been expropriated, confiscated, destroyed, and depreciated, and the more we have been deprived of the very foundation of all protection: of personal independence, economic strength, and private wealth.

Both leftists and conservatives have, in their different ways, contributed to a slack public educational system, which is particularly feeble when it comes to science. Neither faction is likely to accept serious reform gracefully, the left because of its dogmatic anti-elitism, the right because of its own version of anti-elitism as well as its resistance to public expenditure and its fervent preference for "localism" in all things.

As of July 2017 public spending per capita had fallen by 3.9%.[58] But this figure obscures the the fact that the government is allocating proportionally less of its budget to public services. Per person, day-to-day spending on public services has been cut to about four-fifths of what it was in 2010.[59] Public sector employment was slashed by 15.5% between September 2009 and April 2017, a reduction of nearly one million jobs, primarily affecting women, who make up around two-thirds of the public sector workforce. Overall, £22bn of the £26bn in ‘savings’ since June 2010 have been shouldered by women.[60] Lone mothers (who represent 92% of lone parents) have experienced an average drop in living standards of 18% (£8,790). Black and Asian households in the lowest fifth of incomes are the most affected, with average drops in living standards of 19.2% and 20.1% – £8,407 and £11,678 – respectively.[61] The Office of Budget Responsibility (OBR) has said that the cumulative scale of cuts to welfare are “unprecedented”, with real per capita welfare cap spending in 2021-22 projected to be around 10% lower than its 2015-16 level.[62] The Conservative-Liberal Democrat coalition government initially aimed to eliminate the deficit – the difference between annual government income and expenditure – by 2015. But weaker-than-expected economic growth forced the government to push the date back to 2025. The government tried to spin this as a generous easing of austerity, but it was merely giving itself several years longer to take on the deficit. In December 2017 the OBR said that GDP per person would be 3.5% smaller in 2021 than was forecast in March 2016. Contradicting the government, the OBR said the deficit would not be eliminated until 2031. The Institute for Fiscal Studies added that national debt – then standing at £1.94 trillion, with an annual servicing cost of £48bn – may not return to pre-crisis levels until the 2060s. Pressure on the public finances, primarily from health and social care, is only going to increase. In all of the OBR’s scenarios, spending grows faster than the economy. With health costs running ahead of inflation, the National Health Service (NHS) – already suffering from a £4.3bn annual shortfall – requires a 4% minimum annual increase in funding to maintain expenditure per capita amid a growing and ageing population.

Article I, Section 9, Clause 7 of the U.S. Constitution: “No money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.

Let us return to our initial problem. We may begin by asking why we assume that someone being paid to do nothing should consider himself fortunate. What is the basis of that theory of human nature from which this follows? The obvious place to look is at economic theory, which has turned this kind of thought into a science. According to classical economic theory, homo oeconomicus, or “economic man”—that is, the model human being that lies behind every prediction made by the discipline—is assumed to be motivated above all by a calculus of costs and benefits. All the mathematical equations by which economists bedazzle their clients, or the public, are founded on one simple assumption: that everyone, left to his own devices, will choose the course of action that provides the most of what he wants for the least expenditure of resources and effort. It is the simplicity of the formula that makes the equations possible: if one were to admit that humans have complicated motivations, there would be too many factors to take into account, it would be impossible to properly weight them, and predictions could not be made. Therefore, while an economist will say that while of course everyone is aware that human beings are not really selfish, calculating machines, assuming that they are makes it possible to explain a very large proportion of what humans do, and this proportion—and only this—is the subject matter of economic science.