Via Economist:Government has always tended to expand (see table 1), and people have always fretted about it. In 1888 a French economist, Pierre Paul Leroy-Beaulieu, calculated that a share of 12-13% of GDP (just above the Western average then) was the sustainable limit for a modern state. By 1960 sprawling welfare states had pushed the average in the rich world to 28% (see chart 2), enough to convince Friedrich Hayek that “the deliberately organised forces of society [ie, government regulation]” might “destroy those spontaneous forces which have made advance possible.” Yet the next quarter-century saw another surge, pushed mainly by transfer payments and subsidies ostensibly aimed at the poor but often of most benefit to the middle classes.
Via Economist:Government has always tended to expand (see table 1), and people have always fretted about it. In 1888 a French economist, Pierre Paul Leroy-Beaulieu, calculated that a share of 12-13% of GDP (just above the Western average then) was the sustainable limit for a modern state. By 1960 sprawling welfare states had pushed the average in the rich world to 28% (see chart 2), enough to convince Friedrich Hayek that “the deliberately organised forces of society [ie, government regulation]” might “destroy those spontaneous forces which have made advance possible.” Yet the next quarter-century saw another surge, pushed mainly by transfer payments and subsidies ostensibly aimed at the poor but often of most benefit to the middle classes.
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Via Economist:Government has always tended to expand (see table 1), and people have always fretted about it. In 1888 a French economist, Pierre Paul Leroy-Beaulieu, calculated that a share of 12-13% of GDP (just above the Western average then) was the sustainable limit for a modern state. By 1960 sprawling welfare states had pushed the average in the rich world to 28% (see chart 2), enough to convince Friedrich Hayek that “the deliberately organised forces of society [ie, government regulation]” might “destroy those spontaneous forces which have made advance possible.” Yet the next quarter-century saw another surge, pushed mainly by transfer payments and subsidies ostensibly aimed at the poor but often of most benefit to the middle classes.
Via Economist:Government has always tended to expand (see table 1), and people have always fretted about it. In 1888 a French economist, Pierre Paul Leroy-Beaulieu, calculated that a share of 12-13% of GDP (just above the Western average then) was the sustainable limit for a modern state. By 1960 sprawling welfare states had pushed the average in the rich world to 28% (see chart 2), enough to convince Friedrich Hayek that “the deliberately organised forces of society [ie, government regulation]” might “destroy those spontaneous forces which have made advance possible.” Yet the next quarter-century saw another surge, pushed mainly by transfer payments and subsidies ostensibly aimed at the poor but often of most benefit to the middle classes.