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Paying For The Liberal State: The Rise Of Public Finance In Nineteenth Century Europe

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Executive Summary

Public finance is a major feature of the development of modern European societies, and it is at the heart of the definition of the nature of political regimes. Public finance is also a most relevant issue in the understanding of the constraints and possibilities of economic development. This paper is about the rise and development of taxation systems, expenditure programs, and dept regimes in Europe from the early nineteenth century to the beginning of World War I. Its main purpose is to describe and explain the process by which financial resources were raised and managed.

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