Question

Compare liberalist and socialist political economic views regarding what kinds of goods should be provided by the state as public goods, and in your view, which goods should be provided as public goods in the 21st Century, and why?

Answer 1

. There is a huge difference between the ideology of liberalism socialist and political economic news regarding the public goods provided by the state government to the public.

Public goods are generally provided by the government free of cost for the Welfare of the people where there is no private right of any authority in the state.

Public goods are the necessity of every state because nation requires the concept of welfare for the citizen.

Liberalist are generally in the fever of use public expenditure from the side of government they believe in the fact that everything should be available free of cost from the side of Government and the tax revenue was also very less but practically it is not possible to run any state so that’s why socialist and political economic news is totally different from the liberalist.

Socialistic and political economic point of view in the matter of public good is that only necessity comes under the category of public goods because if a person is able to bear the general charges imposed by the government then there is no harm to avail the services by paying minimum fees.

In 21st century the most important public good Medical Services education and social security schemes.