Government Current Expenditure as a percentage of GDP
نویسنده
چکیده
This opening chapter of the symposium takes a broad perspective on the question of privatisation. The other papers provide detailed discussions of particular sectors. There is considerable scope for further privatisation, with the particular aim of reducing sharply public sector claims on national output. Survey evidence indicates considerable opposition to further privatisations, particularly in the form of dividend-paying joint stock companies. The paper considers to what extent surveys have value, compared to the economic concept of stable, revealed preferences, and the potentially endogeneity of preferences as discussed by Hayek (1949). Consideration is also given to the implications of making concessions to survey opinion by carrying out privatisations under alternative corporate structures.
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