I was recently asked a very simple question. “Assume India’s total tax revenue is 100 in a year. If you are all-powerful in the government, how will you spend that 100?”
To answer that, we have to ask what should the government do? I take my cue from the classical liberals like John Stuart Mill and Adam Smith from the 18th century and from libertarians like Robert Nozick of the 20th century. The basic and only job of the government is to maintain order in society. In order to maintain order, it has to protect life, liberty and property. That creates the necessary condition for the creation of wealth and prosperity. Continue reading “Funding the State”
Atanu Dey : Life is a Random Draw 