public works definition

public works

Construction or development projects for public use, such as bridges, roads, and schools. Governments usually initiate several such programs in periods of economic decline to inject money in the economy (called pump priming) as wages to raise public spending power. These measures (such as the New Deal in the US during 1930s, and Marshall Plan in Europe during 1950s) prevent widespread suffering and induce capital investment.

public works is in the Economics, Politics, & Society subject.

public works appears in the definitions of the following terms: betterment, revenue bond, pump priming and municipal bond

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