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State and local government finance: Massachusetts - Essay Example
Finance & Accounting
Pages 3 (753 words)
Instructor: State and Local Government Finance: Massachusetts Introduction This paper seeks to highlight on issues of state and local government finance in relation to the state of Massachusetts. The state and local government finance encompasses the sale and delivery of debts generated by the state of Massachusetts (Fisher, 201)…
The economy of Massachusetts is driven by the agricultural and the industrial sector. The major elements of the agricultural sector include nursery, vegetables, seafood, cranberries and dairy products. The various industries established in the state include tourism, scientific instruments, printing and publishing, electric and electronic equipment and machinery. Median Voter Theorem In relation to Massachusetts’s state and local government finance, Median Voter Theorem allows for representation of policy preferences as a point along a single dimension. Voters have a tendency to prefer a political candidate who has similar ideas to their preferred policies (Fisher, 133). This theory is based on the assumption that people vote directly on budgetary issue. It is expected that under such circumstances, the median preference will carry the day as much as it is not the majority preference. Political competition is known to be very vigorous, in most cases at the expense of innovation. The state of Massachusetts has witnessed several developments by politicians with an objective of luring voters (Fisher, 159). Typical examples of these policies include social security, a proposal to freeze the federal government’s unrestricted spending and healthcare reforms. ...
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