Spending Review is Back
Governments will in the coming years need spending review more than ever before. Given the big surge in new spending which is currently underway, this might seem a strange statement. Spending review is, after all,…
Accrual Budgeting: Think Carefully Before Jumping
[Warning: this is a technical blogpiece for public financial management specialists] Is moving to a accrual budgeting a good idea? This is a question I am asked from time to time. It is a controversial…
“Bigger Government” in FT’s Best Economics Books of…
The Financial Times has listed "Bigger Government" as one of the best economics books of 2020. The FT's chief economics commentator, Martin Wolf, writes that the book is "quantitative, meticulous and sobering". Read the review…
Bigger Government: Interview on ABC Radio National
My interview on Australian ABC Radio National's program "The Money" (Oct 29) on Bigger Government is now available on YouTube.
Health Care: What’s at Stake in the Presidential…
Of all of the issues facing Americans in next Tuesday’s presidential election, healthcare is one of the biggest. Healthcare is a huge financial burden on Americans. The bad news is that the burden is set…
The Future US Debt Crisis
Faced with the pandemic, big deficits and increased debt are not only inevitable, but desirable – on a strictly temporary basis. This is something on which nearly all economists agree. But this does not mean…
Long-Term Care Spending Will Grow Greatly
Although it is not the main driver of rising health expenditure, population aging will be a significant source of pressure on government budgets in other areas. Age pensions will, in some countries, be part of…
Population Aging & Health Spending
There is a widespread notion that demographic aging will be the most important single factor driving health expenditure up over coming decades – or that, at a minimum, its impact on spending will be as…
Bioscience Revolution To Drive Health Spending Up
In Bigger Government: The Future of Government Expenditure in Advanced Economies I show that government spending is set to increase greatly over the coming three decades in all advanced countries because of powerful external forces…
Post-Pandemic Fiscal Consolidation?
Impacted by the COVID-19 pandemic, the budget deficits of advanced economies are projected to reach 15 percent of GDP on average this year. Debt, already high, is set to increase by more than 20 percent…