-
You have to have a government to provide you with legal order, with stability, enforcement of property rights, enforcement of contracts, definition of rules and regulations - the rules of the game, so to speak - and to provide certain shared goods and services, public services. Several people have tried to estimate this and they come out with figures like government spending at 15% of GDP. In the modern world it has gone to 40% or above. So we are way beyond the optimal, and that is easier to say than what the optimum is.
Topics
- People
- World
- Speak
- Modern
- Public Service
- Stability
- Government Spending
- Property
- Property Rights
- Certain
- Contracts
- Definitions
- Easier
- Enforcement
- Figures
- Games
- Gdp
- Gone
- Goods
- Goods And Services
- Government
- Optimal
- Optimum
- Order
- Regulation
- Rights
- Rules Of The Game
- Spending
- Way
- Modern World
- Rules And Regulations
Cite this Page: Citation