THE ROLE OF THE STATE IN ADAM SMITH’S THOUGHT SYSTEM AND MODERN PUBLIC FINANCE THEORY: A COMPARATIVE EVALUATION

Abstract

What are the main functions of the state? Which functions must be fulfilled by the state, which functions must be not? How should the state fulfill these responsibilities? What must be the main principles of the state, related to public expenditures, taxation and debt policies? In this paper, the place of the role and functions of the state in Adam Smith’s thought system will be discussed. In this context, especially the related parts of the Wealth of Nations and Lectures on Jurisprudence will be focused on and evaluated in the light of contemporary public finance theory

Keywords

• Adam Smith, the role of the state, Modern Public Finance Theory,

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