public sector

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public sector

or

government sector

that part of the economy concerned with the transactions of the government. Government receives income from TAXATION and other receipts and influences the workings of the economy through its own spending and investment decisions ( GOVERNMENT EXPENDITURE) and through its control (via MONETARY POLICY and FISCAL POLICY) of the spending and investment decisions of other sectors of the economy. The public sector together with the PERSONAL SECTOR, FINANCIAL SECTOR, CORPORATE SECTOR and FOREIGN SECTOR make up the national economy. See CIRCULAR FLOW OF NATIONAL INCOME MODEL.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

public sector

That portion of the economy consisting of the government and corporations owned by the government. Contrast with private sector.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Giovanni Bazoli, the chairman of Intesa Sanpaolo SpA (ISE: ISP) (ISP.MI) (OTCBB: ISNPY), Italy's largest retail bank, has said that he is expecting state intervention in the recapitalisation of Italian banks, following the European Union's latest stress tests, MF-Dow Jones has reported.
But those advocating state intervention argue that it "shouldn't be a big deal" for gas-rich Qatar to dole out the sum to ease the community's woes.
Mr Blair said action could even be taken "pre-birth" if necessary and defended the need for state intervention.
The government reportedly also considered the option of state intervention.
With oppressive tax burdens and heavy state intervention in health--already the largest sector of the economy--socialism would have crept in through the back door."
The book is an argument for "liberal international economic order." In those words, Wolf promotes a global capitalist model, with limited state intervention and corporate freedom to act.
Trends to increasing state intervention in family life, as represented by mandatory reporting of child abuse or mandatory arrest and prosecution of intimate partner abusers, have been challenged in recent years by concerns over limits to the state's capacity either to deliver justice or to substitute for the care and control functions of social networks including extended families and communities.
1947: Britain nationalised the coal industry, creating the National Coal Board: The successof state intervention during the Second World War sparked off a series of nationalisations that included the railways, the Bank of England, gas, iron and steel.
It is somewhat novel in two regards: (1) it compares South Korea's and Nasser's Egypt developments and draws lessons for Arab states in the relationship between banks, business and government and (2) it discusses East and South East Asia's development, including the 1997 financial crisis and draws the conclusion that state intervention is critical for economic development, in this regard, it argues for an alternative development model between import substitution and the free market.
This notion of externalities as a form of "market failure" opens up endless possibilities for state intervention.
Republicans and many business leaders at both the state and national levels claim that joblessness would go away if it weren't for federal and state intervention in labor markets.

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