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Thursday, 5 March 2015

Fiscal illusion.

http://en.wikipedia.org/wiki/Fiscal_illusion

Fiscal illusion is a public choice theory of government expenditure first developed by the Italian economist Amilcare Puviani in his 1903 book Teoria della illusione finanziaria (Theory of Financial Illusion (not yet translated into English, but translated into German in 1960 under the title Die Illusionen in der öffentlichen Finanzwirtschaft, Berlin: Dunker & Humblot, 1960)).

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