Government at a glance These numbers ignore activities that do not have explicit outlays but substantial effects on resource allocation Regulations, for example Conceivably, could construct a regulatory budget to account for these costs, but difficult to compute
6 Government at a Glance • These numbers ignore activities that do not have explicit outlays, but substantial effects on resource allocation. – Regulations, for example. – Conceivably, could construct a “regulatory budget” to account for these costs, but difficult to compute
Government Expenditure Some numbers Annual expenditures have grown by a factor of 290from1929-2001 Inflation, population also changing. Real, per-capita expenditure still 10 times as large As percentage of GDP, government expenditure was 9.6%in1929,and29.3%in2001
7 Government Expenditure • Some numbers • Annual expenditures have grown by a factor of 290 from 1929-2001. – Inflation, population also changing. Real, per-capita expenditure still 10 times as large. – As percentage of GDP, government expenditure was 9.6% in 1929, and 29.3% in 2001