Write short notes on Wagner’s law of public expenditure.
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Wagner's law, known as the law of increasing state spending, is a principle named after the German economist Adolph Wagner (1835–1917). He first observed it for his own country and then for other countries. The theory holds that for any country, that public expenditure rises constantly as income growth expands.
Wagner's law, known as the law of increasing state spending, is a principle named after the German economist Adolph Wagner (1835–1917). He first observed it for his own country and then for other countries. The theory holds that for any country, that public expenditure rises constantly as income growth expands.
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