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...education, defence, and so on) and oversees the collection of taxes (such as Income Tax, Value Added Tax (VAT) and excise duty on petrol). When the government uses these spending and revenue raising activities to stabilise the economy, this comes under the purview of fiscal policy, which is the main focus of this section. It should be emphasised that the role of fiscal...

...educated in this culture that this is the way to tackle complex problems. While this approach is powerful for some problems, it's hopeless for others. For example, it now seems clear that climate change induced by human activity is likely to have major impacts on the planet, its environments, and its living organisms, including people. But all of these effects are so...

...education were more likely to vote Leave and on the gap between older and younger voters. Stress has also been placed on the role of immigration as a factor in influencing how people voted – and certainly that was one of the issues emphasised by those campaigning for a Leave vote. Paradoxically, perhaps, those places experiencing relatively high levels of migration...

...education or schooling) leaders are elected by popular vote (the institution of democracy) people with insufficient income receive benefits in cash or kind (the institution of welfare) people have a choice as to how and from whom they obtain goods and services (the institution of the market) although not only characteristic of liberal democracies, wealth is distributed...