The Case for Parliament to Control the Budget: Insights from Economist Behzod Khoshimov
The Role of Parliaments in Economic Development: A Perspective from Behzod Khoshimov
Behzod Khoshimov, a professor at New York University, recently shared insights on the crucial role of parliaments in determining tax collection and allocating public funds. In a discussion with Kun.uz, he emphasized the impact of democratically elected parliaments on economic development.
Khoshimov highlighted the historical evolution of state governance, noting that while governments and courts date back to ancient times, parliaments in their modern form began to take shape in the 17th century. He explained that from an economic standpoint, one of the primary functions of parliament is to decide how and where to allocate societal resources.
He discussed the concept of public goods, where the consumption by one individual does not diminish availability for others. These goods, such as clean air and national defense, benefit society as a whole, but no individual wants to pay for them separately. Hence, societies pool resources through taxes collected by parliament to fund these public goods and services.
Khoshimov underlined the historical significance of parliaments, tracing their origins to the Bill of Rights in England in 1689, which limited the king’s power to impose taxes without consulting parliament. He explained that tax-related matters have always been at the core of parliament’s functions, with other responsibilities like oversight of the executive branch and lawmaking evolving over time.
In modern times, parliaments have expanded powers and responsibilities, but in democratic countries, tax-related matters remain exclusively under their jurisdiction. Khoshimov stressed that parliaments play a vital role in shaping economic policies and promoting equitable distribution of resources for the benefit of society as a whole.
Overall, Behzod Khoshimov’s insights shed light on the essential role of parliaments in economic development and governance, emphasizing their significance in fostering inclusive growth and prosperity.
