board

Thread:

Elle White PADM702-Discussion Board-1

Post:

RE: Elle White PADM702-Discussion Board-1

Author:

Angel Cuffie

Posted Date:

May 23, 2021 11:13 PM

Status:

Published Comment by Hy: See comments.

            Ellie, I enjoyed reading your post on the government and the budget process. The government is responsible for collecting the resources through taxes and adequately allocating them (Srithongrung et al., 2021). However, the budgeting process allows the taxpayers and the legislators to scrutinize the uses of the resources raised. Therefore, the government has a role in ensuring the taxpayers' money is well allocated according to the population's needs. The bible supports the fact that one has tomust give an account of their actions. "SoSo, then each of us will give an account of himself to God" (Romans 14:12, ESV). In the same way, the government must be scrutinized for its operations through the budget.  Comment by Hy: The instructions clearly stated; Do not use personal pronouns in the thread or replies. The discussion is a formal communication, not an informal conversation. You did not follow that instruction.

            The negative externalities result in costs on the third parties. Therefore, the government must intervene and control such situations (Chen et al., 2018). The government has a role of a mediator to ensure the producers and the buyers are restricted in their operations. Therefore, through the taxation of goods, the government regulates the spillover costs (Kubickova, 2019). This increases the cost of production of particular goods and hence controls their distribution in the market. This is the process of internalizing the externality. 

            The governments work to ensure the positive externalities continue to spill to the third parties. It is involved in any externality because it ensures the social costs control the social costs and the private costs (Chen et al., 2018).  Through subsidies, the firm reduces the price of a good and encourages more consumption. This is because the subsidies reduce the producers' costs and hence shift the supply curve to the right to offer goods that are beneficial to society (Bai et al., 2019). The benefits are to both the consumer and the producer. 

References

Bai, Y., Song, S., Jiao, J., & Yang, R. (2019). The impacts of government R&D subsidies on green innovation: Evidence from Chinese energy-intensive firms. Journal of cleaner production, 233, 819-829. https://www.sciencedirect.com/science/article/abs/pii/S0959652619320281

Chen, Y. C., Hung, M., & Wang, Y. (2018). The effect of mandatory CSR disclosure on firm profitability and social externalities: Evidence from China. Journal of Accounting and Economics, 65(1), 169-190. https://www.sciencedirect.com/science/article/pii/S0165410117300757

Kubickova, M. (2019). The impact of government policies on destination competitiveness in developing economies. Current Issues in Tourism, 22(6), 619-642. https://www.tandfonline.com/doi/abs/10.1080/13683500.2017.1296416

Srithongrung, A., Yusuf, J. E. W., &Kriz, K. A. (2021). Systematic public capital management and budgeting process. In Research Anthology on Preparing School Administrators to Lead Quality Education Programs (pp. 598-619). IGI Global. https://www.igi-global.com/chapter/a-systematic-public-capital-management-and-budgeting-process/260441

Reply Quote Mark as Read

Thread:

Rob Snyder - Government and Budget Process

Post:

RE: Rob Snyder - Government and Budget Process

Author:

Angel Cuffie

Posted Date:

May 23, 2021 11:15 PM

Status:

Published Comment by Hy: See comments.

James, I enjoyed reading your post on government budgeting. The role of government in budgeting indeed is to contribute to economic development. This is because the government mobilizes enough resources to be invested in the public sector (Warren & Jack, 2018). The budget allows the government to raise savings and to invest in the economy. Increased government spending helps to create a multiplier effect. This is because, through the budget, the government increases the economy's performance, leading to better living conditions for the population. This increases the aggregate demand. In the bible, the multiplier effect is seen in terms of an increase in life. "But the word of the Lord continued to grow and to be multiplied" (Acts 12:24, ESV). This means that the same way the word of God causes an increase in spiritual growth, the same way the government spending increases the benefits to the citizens.  Comment by Hy: The instructions clearly stated; Do not use personal pronouns in the thread or replies. The discussion is a formal communication, not an informal conversation. You did not follow that instruction.

            The government is supposed to protect the interest of all parties. This means that the policy-making processes should consider the benefits and costs to every party (Mi& Coffman, 2019). The producer and consumer are supposed to be protected from the negative effects. Therefore, the government with tax policies can help control the negative costs passed to the consumers (Osipov et al., 2017). They can also increase the consumption of goods in the economy. 

            There are no perfect free-market economies or completely regulated ones. It is the government's responsibility to ensure there is a balance between the free markets and the regulations put in place (Sun et al., 2020). The regulations are necessary to protect the people and the environment. However, the public interest must be protected and businesses allowed to flourish. Therefore, the public interest must be balanced with business needs (Elmagrhi et al., 2019). This will enhance the growth of the free economy. 

References

Elmagrhi, M. H., Ntim, C. G., Elamer, A. A., & Zhang, Q. (2019). A study of environmental policies and regulations, governance structures, and environmental performance: The role of female directors. Business Strategy and the Environment, 28(1), 206-220. https://onlinelibrary.wiley.com/doi/abs/10.1002/bse.2250

 

Mi, Z., & Coffman, D. M. (2019). The sharing economy promotes sustainable societies. Nature communications, 10(1), 1-3. https://www.nature.com/articles/s41467-019-09260-4

Osipov, V. S., Skryl, T. V., Blinova, E. A., Kosov, M. E., Zeldner, A. G., & Alekseev, A. N. (2017). Institutional analysis of public administration system. International Journal of Applied Business and Economic Research, 15(15), 193-203. https://www.researchgate.net/profile/Vladimir-Osipov-2/publication/319253025_Institutional_Analysis_of_Public_Administration_System/links/599dc78aaca272dff12fd73d/Institutional-Analysis-of-Public-Administration-System.pdf

Sun, L., Zhang, T., Liu, S., Wang, K., Rogers, T., Yao, L., & Zhao, P. (2020). Reducing Energy Consumption and Pollution in the Urban Transportation Sector: A Review of Policies and Regulations in Beijing. Journal of Cleaner Production, 125339. https://www.sciencedirect.com/science/article/abs/pii/S0959652620353841

Warren, L., & Jack, L. (2018). The capital budgeting process and the energy trilemma-A strategic conduct analysis. The British Accounting Review, 50(5), 481-496. https://www.sciencedirect.com/science/article/abs/pii/S0890838918300374