Public administration is hugely important in the modern welfare state. It is the administration that decides how to allocate funds within a society, and whether these funds can be allocated towards helping people in need.
Public administration is hugely important in the modern welfare state. It is the administration that decides how to allocate funds within a society, and whether these funds can be allocated towards helping people in need.
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Public administration in the modern states is very important. It specifically essential to the development of the nation, to ensure that the proper expenses and revenues are carried out correctly and efficiently.
Adam Smith, often regarded as the father of modern economics, made significant contributions to welfare and social policy through his work. In his book "The Wealth of Nations," Smith emphasized the importance of a free market system and division of labor in promoting economic growth and overall societal welfare. He argued that individual self-interest, when guided by an "invisible hand," could lead to societal well-being and prosperity. Smith's ideas laid the foundation for modern welfare economics and influenced subsequent policies aimed at promoting social welfare and development.
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They didn’t provide for “public welfare.” This is a modern concept and for thousands of years people did the best they could to live.
Henri Fayol was a French mining engineer who greatly contributed to the theories of management and business administration. He is of significant importance as his ideas still have meaning in today's modern world.
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The need and importance of commerce in the modern age is for the exchange of goods and services. It is the distribution aspect of businesses.