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Hayek and state spending
3/10/2016 0:00
[rtl]Haitham Laibi
and I am about to point out the misunderstandings that usually Asadvh about government investment spending and distinguish it from the investment of the private sector, on the occasion of raising project in 2017 budget to the House ofRepresentatives, save me yesterday thinker Friedrich Hayek (1899-1922) , who wasinfluenced by the philosophy of Keynes preacher to government intervention in economic life in the fifties and sixties of the last century and who turned against his policies in theseventies and eighties to discard this intervention.
Hayek says in the process of criticizing the views of Keynes: «the expansion ofinvestment - led government may bring benefits in the short term, but the consequences of government intervention It will be disastrous in the long
term ».
some Lekhal that one of the noble goals is the shift from consumer spending to investment, considering that the latter is the one who contributes to increased development in the real production sectors, such as agriculture and industry ... but this understanding may not always be intact , and involves a great unequivocal needs a statement.
consumer spending; who constitute the staff salaries important part, no longer burning of money in the outdoors, since these salaries for services obtained by you and I, and these services are included in the accounts of increased production, Valmrtbaat vs. Forexample , health and education services are in accordance with developmentally human clearly adds to human health and the idea of contributing to the future to make it ahuman health are able to find jobs skilled, and spending on training and development of the human element of government is in addition to human capital and development necessarily.
the public investment spending; and was aimed at public infrastructure such as roads, bridges, airports, water and electricity networks development, but these structures do not represent real investment sense rolling in the private sector seeking to provide goods and services profitable.
given that most of these government services are provided free of charge , or supported, and out of the equation yield-cost and then profit.
look at the draft general budget as well, especially the division of public spending to aconsumer and an investment, you'll find that all ministries have investment budgets, including internal and external defense, municipalities and education, the prime minister and the House of Representatives ...
what the House of Representatives invests example ?
certainly it is not a productive enterprise, to the extent that the construction of theCouncil for building additional longer tunnels investment because it will add to thefacilities and buildings that are capital materially increase the capital accumulation of thestate, without regard to any real physical production.
return to our friend Hayek, the investment spending of this, will be a permanent financial burden on the budget, so it has been expanded to the limits of «serious», every facility and a building constructed will add long - term is always a burden on state resources, including the need of maintenance, electricity and administrative staff and technicians ... especially as they do not generate revenue for the budget.[/rtl]
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