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Economics (UGC/NET Paper II & III)
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Arrange the option having the right chronological order.
(I) Peacock-Wiseman hypothesis
(ii) Buchanan's 'An Economic Theory of Clubs'
(iii) Wagner hypothesis
(iv) Findaly Shirras's canons of public expenditure
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A
(iii) (iv) (i) (ii)
💡 Explanation:
The correct chronological order is: Wagner hypothesis (1880s, Adolph Wagner), Findlay Shirras's canons of public expenditure (early 1900s), Peacock-Wiseman hypothesis (1961), and Buchanan's 'An Economic Theory of Clubs' (1965). This represents the historical development of public finance theories.