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With The help of Samuelson and Musgrave’s models
 
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Subject:Economics Paper: Theory of public finance
Views: 1961 Vidya-mitra
Pure theory of public expenditure: structure and growth of public expenditure (ECO)
 
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Subject: Economic Paper: Theory of public finance Module: Pure theory of public expenditure: structure and growth of public expenditure Content Writer: Dr. Maninder Deep Cheema
Views: 11837 Vidya-mitra
#5 Public finance topic 5-ability to pay, benefit principle and sacrifice principle
 
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And Some other imp topicss of public finance Keep watching - chanakya group of economics ...
Maximum Social Advantage
 
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Dalton's concept of MSA is very important part of public finance.
Views: 24042 ECONOMICS PATHSHALA
DOCTRINE OF MAXIMUM SOCIAL ADVANTAGE PUBLIC FINANCE
 
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DOCTRINE OF MAXIMUM SOCIAL ADVANTAGE PUBLIC FINANCE
Views: 6279 Shashi Aggarwal
James Buchanan's Democratic Approach to Public Finance
 
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In the third video in our series, Richard Wagner outlines the intellectual history of James Buchanan's work articulating a theory of public finance that reflects the will of the people, not of the government or special interests. (This video is partially funded by a grant from the John Templeton Foundation on “Work, Self- governance, and the Challenge of Unsustainable Dependency.” The grant is for a three-year project to explore the themes of work and self-governance as well as the root causes and consequences of the modern shift toward a greater reliance on government efforts to solve collective challenges.) Stay Connected Facebook: http://www.facebook.com/mercatuscenter/ Twitter: http://www.twitter.com/mercatus Email: http://www.mercatus.org/newsletters
Views: 139 Mercatus Center
Dalton’s objective Criteria of Social Advantage
 
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WISDOM COMMERCE CLASSES (UTTAN) are making videos for theory subjects, especially for Mumbai University TYBCOM students and Maharashtra Board SYJC students.
Views: 9156 Hilary Gaurea
Theory of incidence (ECO)
 
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Subject: Economic Paper: Theory of public finance Module: Theory of incidence Content Writer: Dr. Jaswinder Singh
Views: 2758 Vidya-mitra
Incidence of Tax
 
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Identify the incidence of tax on the consumers and producers using a dd-ss diagram
Views: 15295 wangslecons
Principles of Maximum Social Advantage (PUBLIC FINANCE)
 
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All things of principles of Maximum Social Advantage are explained clearly. If in case of any doubt ask in comment section ...
Episode 2: The Contradictions of Public Finance - The Conflicts and The Contradictions.
 
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In this episode I discuss one of the proposed needs of having a public sector in a private enterprise economy, as described by Musgrave and Musgrave (4th Edition), confront it with realities of life and study the contradictions that result. It is first step for critical evaluation of public finance theory and practice. It is critique of first of the seven proposed justifications.
Views: 0 Ahmed Hadi
Dalton objectives criteria of social advantage
 
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WISDOM COMMERCE CLASSES (UTTAN) are making videos for theory subjects, especially for Mumbai University TYBCOM students and Maharashtra Board SYJC students.
Views: 1846 Hilary Gaurea
An economic theory of democracy
 
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Subject:Economics Paper:Theory of public finance
Views: 747 Vidya-mitra
Mariana Mazzucato and Bill Janeway - Doing Capitalism with The Entrepreneurial State
 
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Is innovation best left to entrepreneurs? To celebrate the launch of the two new editions of Doing Capitalism by Bill Janeway, and The Entrepreneurial State by Mariana Mazzucato, UCL Institute for Innovation and Public Purpose and The Bartlett School of Construction and Project Management come together to host a lively discussion on the role of the state in the innovation process, chaired by D'Maris Coffman. The Entrepreneurial State demolishes the myth that innovation is best left to the private sector, revealing how, from tech to medicine, government investment has powered wealth creation. Ignoring this history, business has shared the risks, while privatising the rewards – increasing inequality and jeopardising future innovation. Doing Capitalism in the Innovation Economy narrates the dynamics of the innovation economy from the standpoint of a seasoned practitioner of venture capital. This new edition develops a theory that asset bubbles play a central role in financing technological innovation and that state investment in national goals enable the innovation process. -- UCL Institute for Innovation and Public Purpose The Bartlett Faculty of the Built Environment Website: https://ucl.ac.uk/iipp Twitter: https://twitter.com/iipp_ucl Sign up to our newsletter to hear about our upcoming events: http://eepurl.com/c_sNb9 or visit our website: https://www.ucl.ac.uk/bartlett/public-purpose/latest?query=&meta_UclCommunicationType_sand=event&reset=1
Impact, incidence and shifting of taxation
 
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Taxation - impact,incidence and shifting of tax.
Views: 14444 ECONOMICS PATHSHALA
Role of government in organized society; changing perspective about the role of government
 
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Subject : Economics Paper : Theory of public finance
Views: 1980 Vidya-mitra
Public Goods and Private Goods
 
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The characteristics that separate Public Goods from Private Goods. #YOUCANLEARNECONOMICS
Views: 10104 E.Z. Classes
Theories Of Public Expenditure
 
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Dr. Priyesh C. A, Assistant Professor in Economics, University College, Trivandrum
PRINCIPLE OF MAXIMUM SOCIAL ADVANTAGE IN HINDI
 
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This video talks about principle of maximum social advantage in hindi. Economics.
Views: 3525 satyam singh
Rationale for Public Goods
 
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Subject:Economics Paper: Theory of public finance
Views: 117 Vidya-mitra
Public finance
 
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Public finance is the study of the role of the government in the economy. It is the branch of economics which assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. The purview of public finance is considered to be threefold: governmental effects on (1) efficient allocation of resources, (2) distribution of income, and (3) macroeconomic stabilization. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 590 Audiopedia
Lecture 1: Introduction to Public Finance
 
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أ.محمد عثمان
Views: 16333 iugaza1
Private goods, public goods and merit goods (ECO)
 
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Subject: Economic Paper: Theory of public finance Module: Private goods, public goods and merit goods Content Writer: Dr. Rajni Neogi
Views: 13656 Vidya-mitra
THEORIES OF PUBLIC EXPENDITURE:3)COLIN CLARK HYPOTHESIS-NTA NET ECONOMICS
 
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In this video we will discuss 3rd theory of public expenditure I.e. Colin Clark Hypothesis which is also known as Critical Limit Hypothesis. Adolf Wagner's law of increasing state activity https://youtu.be/ffCr2TSvj6M Peacock-Wiseman Hypothesis https://youtu.be/Qf2RgtCO0Ok
Views: 377 NTA NET ECONOMICS
Chapter 2 Unit 1 ll Fiscal Functions ll Economics for Finance ll CA INTER
 
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Ehat role does the government play in the economy . Learn about the Adam Smith's opinion and also various government functions from the point of view of Richard Musgrave . Understand in detail the Allocation, Redistribution and Stabilization Function of the Government . For notes, click this link: https://universeofcommerce.com/notes/ To subscribe to the channel, click: https://www.youtube.com/channel/UCO4nRWhL9Uuvc4NIJoLElHA?sub_confirmation=1 To watch more videos, click here : https://www.youtube.com/channel/UCO4nRWhL9Uuvc4NIJoLElHA For Daily MCQs and updates, Folow us on : Facebook : https://www.facebook.com/Universeofcommerce Instagram : https://www.instagram.com/universe_of_commerce Twitter : https://twitter.com/UniCom76507524 GMAIL : [email protected] Whats app : 9057120401 Telegram : https://t.me/unicomcainter Website : www.anushriagrawal.com STRATEGIC MANAGEMENT for CA INTERMEDIATE https://www.youtube.com/watch?v=xZ1TDEwBvVc&list=PLxOpDRieFexkRly1m3dbm4_lu80R9gEHJ AUDIT AND ASSURANCE FOR CA INTERMEDIATE https://www.youtube.com/watch?v=cn2P9wLfGrE&list=PLxOpDRieFexnoeQbLhO46Q9JuvA2j-N_L Enterprise Information System (EIS) for CA Inter : https://www.youtube.com/watch?v=HKtnOz6jMRo&list=PLxOpDRieFexksIdWZM7vwXY39nSw_ETjp Income Tax For CA Inter/ IPCC : https://www.youtube.com/watch?v=yjfFccnG3F8&list=PLxOpDRieFexmIICkvOt9Kn96mUuHQoBgh Economics For Finance https://www.youtube.com/watch?v=9V4dvtXBMXY&list=PLxOpDRieFexn_75dlAg7KAzdPE8e_eHep COMMERCE CURRENT AFFAIRS https://www.youtube.com/watch?v=bSFtczHngzw&list=PLxOpDRieFexlZf-wGNwlRl2L4MLv6vxRa FINANCIAL MANAGEMENT FOR CA INTER, UPSC-MAINS, NET-UGC https://www.youtube.com/watch?v=i06CxKScNJs&list=PLxOpDRieFexkO60GtFENi0saRi0orV3y1 Suggested videos: How to make awesome notes : https://www.youtube.com/watch?v=DGvCt0ETKt4&t=93s How to identify your problem area https://www.youtube.com/watch?v=7R21452WqVw&t=430s #Unicom #universe_of_commerce #cainter economics for finance,ca inter video classes,ca intermediate,ca ipcc new course economics,economics for ca ipcc new,eco for ca inter,unicom,unicom channel,anushri agrawal,anushri unicom,eco revision video ca,ca inter,economics,public finance,fiscal policy,fiscal functions,chapter 2 of economics ca inter,ca inter economics,kanika khetan,fiscal policy of government
Views: 649 UNICOM
Trends and lesson in Public Expenditure
 
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Subject:Economics Paper: Theory of public finance
Views: 673 Vidya-mitra
Jayati Ghosh: The public value of care and the politics of women's work
 
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As part of the lecture series between UCL Institute for Innovation and Public Purpose (IIPP) and the British Library, Jayati Ghosh discusses the public value of care services https://www.bl.uk/events/the-public-value-of-care-and-the-politics-of-womens-work Care services are taken for granted, unrecognised and unsung in almost all societies. But they contribute hugely to public value: to social well-being, cohesion and stability and to the progress of the economy and its future potential – even though that contribution is missing in the national accounts. Care work is fundamentally relational, which means that it is less likely to be affected by new technologies that replace human labour. So care employment is likely to be a big job generator in the future, particularly if it is provided through decent work engaged in by qualified professionals. Investment in care improves people’s welfare, and also has large multiplier effects that generate much greater employment directly and indirectly than investment in infrastructure. Currently, most care work is performed by unpaid and underpaid women, especially in developing societies, which unfortunately affects social attitudes to all work done by women as well as all care work. This needs to change to create happier and more equal societies. Public policy is crucial in determining the extent, coverage and quality of care services as well as the conditions of care workers. The focus has to be on the five Rs: recognise, reward, reduce, redistribute care work and ensure representation of care workers. -- Rethinking Public Value and Public Purpose in 21st Century Capitalism is a lecture series presented by UCL’s new Institute for Innovation and Public Purpose in collaboration with the British Library. https://www.bl.uk/events/rethinking-p... Featuring luminaries from the worlds of arts, economics, architecture and design and policymaking, it considers the role of the public sector in today’s capitalist world and asks what partnerships are needed to address societal and technological challenges? How can public spaces be designed to create more democratic participation and new forms of learning and exploration? Does public necessarily mean free? Can the digital revolution create a new type of public realm? Speakers include Richard Rogers, Stephanie Kelton, Jayati Ghosh, Lucy Musgrave and Mariana Mazzucato. The events are free but booking is required. UCL Institute for Innovation and Public Purpose The Bartlett Faculty of the Built Environment Website: https://ucl.ac.uk/iipp Twitter: https://twitter.com/iipp_ucl
Public Economics and Finance - Intro to Public Finance
 
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For more info please visit: http://wagner.nyu.edu/Rao
Views: 53966 New York University
Economists’ Untold Secrets 048: Just Taxation II
 
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Reference: Choi, Hak. 2015. "How Musgrave Has Destroyed the Voluntary Taxation Theory." ssrn.com/abstract=2682867.
Views: 33 Choi Hak
Paul Samuelson- A Perfect Hedge
 
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Paul Samuelson interviewed by Robert Milton. Samuelson talking about Options and Black-scholes Model. Black-Scholes is a pricing model used to determine the fair price or theoretical value for a call or a put option based on six variables such as volatility, type of option, underlying stock price, time, strike price, and risk-free rate. The Black Scholes model is a partial differential equation that describes the price of the option vs. time. The key concept is to flawlessly “hedge” the option by buying and selling the underlying asset that cancels risk. This strategy is named delta hedging and is the basis for many other trading strategies. As such the formula computes that there is one true price on the option which is calculated by the Black Scholes formula. Samuelson worked in many fields, including: Consumer theory, where he pioneered the revealed preference approach, which is a method by which one can discern a consumer's utility function, by observing their behavior. Rather than postulate a utility function or a preference ordering, Samuelson imposed conditions directly on the choices made by individuals – their preferences as revealed by their choices. Welfare economics, in which he popularised the Lindahl–Bowen–Samuelson conditions (criteria for deciding whether an action will improve welfare) and demonstrated in 1950 the insufficiency of a national-income index to reveal which of two social options was uniformly outside the other's (feasible) possibility function (Collected Scientific Papers, v. 2, ch. 77; Fischer, 1987, p. 236). Capital theory, where he is known for 1958 consumption loans model and a variety of turnpike theorems and involved in Cambridge capital controversy. Finance theory, in which he is known for the efficient-market hypothesis. Public finance theory, in which he is particularly known for his work on determining the optimal allocation of resources in the presence of both public goods and private goods. International economics, where he influenced the development of two important international trade models: the Balassa–Samuelson effect, and the Heckscher–Ohlin model (with the Stolper–Samuelson theorem). Macroeconomics, where he popularized the overlapping generations model as a way to analyze economic agents' behavior across multiple periods of time (Collected Scientific Papers, v. 1, ch. 21) and contributed to formation of the neoclassical synthesis. Market economics: Samuelson believed unregulated markets have drawbacks, he stated, "free markets do not stabilise themselves. Zero regulating is vastly suboptimal to rational regulating. Libertarianism is its own worst enemy!" Samuelson strongly criticised Friedman and Friedrich von Hayek arguing their opposition to state intervention "tells us something about them rather than something about Genghis Khan or Franklin Roosevelt. It is paranoid to warn against inevitable slippery slopes…once individual commercial freedoms are in any way infringed upon".
Views: 847 scottab140
Maximum social benefit analysis
 
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MSB PUBLIC ECONOMICS
Views: 403 mahadevamma Ambika
Economists’ Untold Secrets 047: Voluntary Tax I
 
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Reference: Choi, Hak. 2015. "Lindahl's Confusing Marginal Utility Theory." ssrn.com/abstract=2682888.
Views: 89 Choi Hak
#4 Impact, Incidence , Shifting & Effect of taxation. कराघात, करापात, कर अंतरण और कर का प्रभाव
 
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#1 Introduction Of TAX System# कर प्रणाली और उसका परिचय। https://youtu.be/pGO87xqsagY #2 Tax Structure, Proportional Tax, Progressive Tax, Regressive Tax and Digressive Tax https://youtu.be/7_WnidTXVqA #3 Direct and Indirect TAX, Some other TAX in India. https://youtu.be/lmrJ1ogt-mc Impact and Incidence of Tax: The impact of a tax is on the person who pays it in the first instance and the Incidence of Tax is on the one who finally bears it. Therefore, the incidence is on the final consumers. Shifting of Tax Incidence is not shifting, Shifting means the process of transfer, i.e., the passing of the tax from the one who first pays it to the one who finally bears it. It is through this process of shifting that the incidence of a tax comes finally to rest somewhere. The process of shifting may be slow or may be only partially effective so that the burden of a tax may not fall entirely on the person, who is intended to bear it. Tax can be shifted: Forward Backward Forward shifting: A forward-shifted tax is a tax imposed on producers but passed on to consumers. The amount of a tax shifted forward depends on the price elasticity of demand for the taxed good. Backward shifting: Backward shifting takes place when consumers do not purchase commodities at increased prices. Sellers are! then forced to cut down prices and bear burden of tax themselves. Backward shifting is thus performed by buyers. Theories of tax shifting 1. Concentration Theory 2. The Diffusion Theory 3. Demand and Supply Theory of Incidence 4. Fiscal Incidence and Its Measurement (Musgrave’s Approach) Incidence and Effects: The effect of a tax refers to incidental results of the tax. There are several consequences of the imposition of tax which are quite distinct from the problem of incidence. The imposition of an excise duty on processing of rice, we have can is shifted ultimately to the consumer of sugar. The incidence is on the consumer. But the effects of this duty may be far-reaching! A heavy excise duty may cripple the industry. The manufacturer’s profits will be reduced. Wages may be reduced. Labour and capital may have to leave the industry. Thousands of middlemen engaged in the distribution of rice may find their earnings reduced. Reshuffling of their family budgets may affect the demand for certain other goods. The consumption of rice may decrease and that of its substitutes may increase. All these are the effects of the tax. Importance of incidence: The study of incidence is very-important. The tax system is not merely aimed at raising a certain amount of revenue, but the aim is to raise it from these sections of the people who can best bear the tax. The aim, in short, is to secure a just distribution of the tax burden. This obviously cannot be done unless an effort is made to trace the incidence of each tax levied by the State. We must know who pays it ultimately in order to find out whether it is just to ask him to pay it, or whether the burden imposed on him is according to the ability of the tax-payer or not.
Views: 5898 Know Economics
Johansen- Samuelson  - Lindahl Theory of Public Expenditure or Public Goods ( Continued)
 
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Pareto Optimum Lindahl Solution established by Johansen American Economist
Bowen's Model of Social Goods
 
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Dr. Priyesh C.A, Assistant Professor in Economics, University College, Trivandrum
The Government as Entrepreneur
 
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Mariana Mazzucato argues that the idea that entrepreneurship is confined to the private sector is wrong. In fact, while often considered "inefficient," the state is among the shrewdest investors in innovation—and deserves its fair share of the rewards. Who should get the fruits of innovation? Today, the gains are hoarded by corporations like Apple or Tesla. But University College London professor and INET grantee Mariana Mazzucato has a different answer: The state should reap the returns that its massive investment in innovation has generated. Mazzucato argues that the state, often dubbed “lender of last resort,” should instead take an unabashed role as “investor of first resort”—acting as a proactive investor in major innovations, and getting returns on that investment. That's because governments are capable of the patient, long-term, strategic approach to finance that's essential for innovation. In taking a “mission-oriented” approach, the public sector should work with the private sector and civil society to build a portfolio of innovation projects that better meet the challenges of our times.
Views: 5043 New Economic Thinking
Trends in Public Expenditure (New)
 
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CEC/UGC: Economics, Commerce and Finance (EMRC,Gujarat University,Ahmedabad)
What is PREFERENCE REVELATION? What does PREFERENCE REVELATION mean? PREFERENCE REVELATION meaning
 
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What is PREFERENCE REVELATION? What does PREFERENCE REVELATION mean? PREFERENCE REVELATION meaning - PREFERENCE REVELATION definition -PREFERENCE REVELATION explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ In public choice theory, preference revelation (also preference revelation problem) is an area of study concerned with ascertaining the public's demand for public goods. If government planners do not have "full knowledge of individual preference functions", then it's likely that public goods will be under or over supplied. Unlike private goods, public goods are non-excludable and non-rivalrous. This means that it's possible for people to benefit from a public good without having to help contribute to its production. Given that information about marginal benefits is available only from the individuals themselves, people have an incentive to under report their valuation for public goods. If public finance was entirely voluntary, then anybody who under reported their benefit would decrease their tax payment. This problem, which is known as the free-rider problem, could potentially result in collective goods being undersupplied. In order to try and prevent this from happening, governments resort to compulsory taxation. However, forcing people to pay taxes does not reveal what they would be willing to pay for public goods. Therefore it's likely that the government will either provide too much or not enough of any given public good. One solution to the preference revelation problem would be to implement tax choice. If taxpayers had to pay taxes anyway, but could choose where their taxes go, then they would have no incentive to hide their true preferences for public goods.
Views: 345 The Audiopedia
Affect of Social goods in the formulation of stabilization policy – Case of poverty alleviation
 
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Subject:Economics Paper: Theory of public finance
Views: 143 Vidya-mitra
The Reformation of Economics
 
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500 years ago, Martin Luther began the campaign that led to the Reformation of the Catholic Church. Yesterday at the University College London, six rebel economists made a call for a similar reformation of today's modern version of the Catholic Church, Neoclassical Economics. Listen to Andrew Simms, Victoria Chick, Kate Raworth, Mariana Mazzucato, Sally Svenlen, and myself (chaired by The Guardian's Economics Editor Larry Elliott) as we call for the Reformation of Economics. You can read the 33 Theses we later bluetacked to the entrance to the London School of Economics here: https://drive.google.com/file/d/1Rf7oKB2LSvhP2mFloVFYz469GaW09Iba/view
Views: 1827 ProfSteveKeen
What is MERIT GOOD? What does MERIT GOOD mean? MERIT GOOD meaning, definition & explanation
 
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What is MERIT GOOD? What does MERIT GOOD mean? MERIT GOOD meaning - MERIT GOOD definition - MERIT GOOD explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ The concept of a merit good introduced in economics by Richard Musgrave (1957, 1959) is a commodity which is judged that an individual or society should have on the basis of some concept of need, rather than ability and willingness to pay. The term is, perhaps, less often used today than it was in the 1960s to 1980s but the concept still lies behind many economic actions by governments which are not performed specifically for financial reasons or by supporting incomes (e.g. via tax rebates). Examples include the provision of food stamps to support nutrition, the delivery of health services to improve quality of life and reduce morbidity, subsidized housing and arguably education. In many cases, merit goods provide services which it is argued should apply universally to everyone in a particular situation, a view that is close to the concept of primary goods found in work by philosopher John Rawls or discussions about social inclusion. On the supply side, it is sometimes suggested that there will be more support in society for implicit redistribution via the provision of certain kinds of goods and services, rather than explicit redistribution through income. Alternatively, it is sometimes suggested that society in general may be in a better position to determine what individuals need (such arguments are often criticised for being paternalistic, often by those who would like to reduce to a minimum economic activity by government). Sometimes, merit and demerit goods are simply seen as an extension of the idea of externalities. A merit good may be described as a good that has positive externalities associated with it. Thus, an inoculation against a contagious disease may be seen as a merit good. This is because others who may not now catch the disease from the inoculated person also benefit. However, merit and demerit goods can be defined in a different way which makes it different from externalities. The essence of merit and demerit goods is to do with an information failure to the consumer. This arises because consumers do not perceive quite how good or bad the good is for them: either they do not have the right information or lack relevant information. With this definition, a merit good is defined as good that is better for a person than the person who may consume the good realises. Other possible rationales for treating some commodities as merit (or demerit) goods include public-goods aspects of a commodity, imposing community standards (prostitution, drugs, etc.), immaturity or incapacity, and addiction. A common element of all of these is recommending for or against some goods on a basis other than consumer choice. However, there is no reason why governments should not consult their populations on such issues as they increasingly do in a number of economic contexts (e.g., development planning by the World Bank or resource allocation in health systems using information on health-benefits). In the case of education, it can be argued that those lacking education are incapable of making an informed choice about the benefits of education, which would warrant compulsion (Musgrave, 1959, 14). In this case, the implementation of consumer sovereignty is the motivation, rather than rejection of consumer sovereignty. Public Choice Theory suggests that good government policies are an under-supplied merit good in a democracy. A merit good can be defined as a good which would be under-consumed (and under-produced) in the free market economy. This is due to two main reasons: 1. When consumed, a merit good creates positive externalities (an externality being a third party/spill-over effect which arises from the consumption or production of the good/service). This means that there is a divergence between private benefit and public benefit when a merit good is consumed (i.e. the public benefit is greater than the private benefit). However, as consumers only take into account private benefits when consuming merit goods, it means that they are under-consumed (and so under-produced). 2. Individuals are myopic, they are short-term utility maximisers and so do not take into account the long term benefits of consuming a merit good and so they are under-consumed.
Views: 2022 The Audiopedia