Whether it is science or art or both
Public Finance is a science:- Science is the systematic study of any subject which studies causal relationship between facts. Public Finance is a systematic study of any subject which studes causal relationship between facts. The arguments could be:
- Definite and limited field of human knowledge
- Systemtic study of facts
- Scientific methods are used to study public finace
- Priniciples of public finance are empirical
Public Fianance is an arts:- Arts is the application of konwledge for achieving objectives. Fiscal policy which is an important instrument of public finance makes use of the konwledge of governments revenue and expenditure to achieve the objective of full employment, economic equality, economic development and price stability.
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