Bureaucracy is the usage by a government of goods obtained via taxation and/or credit transactions in order to produce goods that will be used by other people.

In most cases a government obtains money via taxation and/or credit transactions and uses that money in order to exchange it against factors of production offered on the market by entrepreneurs and/or workers and then combines these factors of production to turn out goods that are made available to other people.

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe without commenting