Distinguish between public expenditure and private expenditure. To what extent public expenditure should be incurred? Explain the theory of maximum social advantages advanced by H. Dalton in this regard.
Introduction Public and private expenditures play crucial roles in the economy. While private expenditure is driven by individual choices for personal satisfaction, public expenditure is made by the government to promote social welfare and economic stability. Understanding the distinction between them and the appropriate level of public spending is vital for efficient fiscal policy. H. […]