Fiscal Operations and Macroeconomic Stability in Nigeria
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The role of the public sector in the economy of nations of the world is based on the incessant failure of the self equilibrating, self-adjustment, self stabilizing and selfregulating properties of the market. Although, classical basic tents which states that ¿supply creates its own demand¿, hence supply of a good that is not demand cannot arise. However massive failures in the market economic and economic imbalances in the 1920s and 1930¿s have led to the interventionist role of government in economic sustenance. This have led to the origination and development of another school of economic...
The role of the public sector in the economy of nations of the world is based on the incessant failure of the self equilibrating, self-adjustment, self stabilizing and selfregulating properties of the market. Although, classical basic tents which states that ¿supply creates its own demand¿, hence supply of a good that is not demand cannot arise. However massive failures in the market economic and economic imbalances in the 1920s and 1930¿s have led to the interventionist role of government in economic sustenance. This have led to the origination and development of another school of economic philosophy referred to as the Keynesian School of thought with empirical evidence to show that public sector interventionist role in an economy to achieve major economic stability.
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