THE power and influence of money makes finance a very critical function and concern anywhere, ad infinitum. Governments and international corporates that have either misused or fallen short of financing their operations have collapsed like Sri Lanka recently, leading to widespread protests and disruption to everyday life. Meanwhile, private firms like Lehman Brothers, a bank with an asset base of $639 billion as of May 2008, went bankrupt under the pressure of finance, or the misuse of it. Such is the gravitas of finance or capital. In truth, there is neither public nor private finance, these terms are prefixed to show who has claim or ownership over this essential nerve function at a particular time.To suggest that there is public finance is to merely propose that such finance is of government use and function at that time.Likewise, private finance or capital generally refers to funds managed by commercial banks, wealth funds, stock markets and other investable institutions […]
PUBLIC FINANCE PART 1
