Public Spending in the 20th Century
A Global Perspective
Vito Tanzi author Ludger Schuknecht author
Format:Paperback
Publisher:Cambridge University Press
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- Hardback£95.00(9780521662918)
This analysis reveals that the growth of the welfare state hasn't significantly enhanced welfare. Public Spending in the 20th Century offers a blueprint for reform.
In Public Spending in the 20th Century, the authors provide a comprehensive analysis of the significant rise in government expenditures across industrialized nations. They argue that the expansion of the welfare state over the last thirty-five years has not yielded substantial improvements in social and economic welfare. This prompts a critical examination of whether public spending can be reduced while still achieving essential policy objectives. The book proposes a framework for reforming government spending and highlights the need for a shift in focus towards establishing the foundational 'rules of the game' for economic and social governance.
The authors meticulously document the trends in government finance throughout the twentieth century, emphasizing the dramatic increase in public spending during this period. They explore the implications of this growth, suggesting that a more efficient allocation of resources could lead to a more effective government without compromising vital social services. By analyzing reform experiences from various countries, the book provides valuable insights into how governments can adapt to changing economic realities.
As the study concludes, it offers a forward-looking perspective on the evolving role of the state in a globalized world. The authors argue that while there is a demand for a more streamlined government, it is essential to ensure that this 'leaner' state does not become 'meaner.' Public Spending in the 20th Century serves as a thought-provoking resource for policymakers and scholars alike, advocating for a balanced approach to government finance and reform.
' … a fascinating new book … Tanzi and Schuknecht argue, persuasively, that until the 1960s the rise in spending seems to have brought a big increase in public welfare, but that the extra spending mandated in the 1960s and 1970s, the age of greatest confidence in government, brought no further benefits.' Financial Times
'The authors argue that the state in most Western countries is far larger than it needs to be to achieve its economic or social objectives. Employing a simple, but logical, methodology, they make a surprisingly persuasive case that we have gained little or nothing in terms of improved economic or social (including redistributive) outcomes from the huge expansion of the state that took place after World War II. Moreover, they argue that it is not only desirable but feasible to reduce the share of the state from an average (for 17 OECD countries) of 46 percent of GDP in 1996 to something closer to the 28 percent that prevailed in the same countries in 1960. Although the arguments and conclusions of this book will no doubt be controversial, they cast important new light on the past and future of one of the most important phenomena of recent times - the growth of the state. The book should be read, and read widely.' Richard M. Bird, University of Toronto
'This excellent book documents the growth of government spending during the 20th century, its economic costs, and its disappointing failure in raising social welfare. Moreover, the authors - well-known public finance experts - argue convincingly in favor of government reduction, pointing out specific state reforms to reduce government size and raise social well-being. Although this brilliant volume is addressed to a general audience, it is rich in new statistical evidence and well grounded in modern theory. It should be mandatory reading for fiscal experts, policy makers, and the interested public at large.' Klaus Schmidt-Hebbel, Central Bank of Chile
'Widely regarded as the classic international study on the subject.' David B. Smith, Chief Economist, Williams de Broë
ISBN: 9780521664103
Dimensions: 229mm x 152mm x 18mm
Weight: 430g
308 pages