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# Expense of Public Works and Public Institutions

## Definition

The sovereign's financial obligation to erect and maintain public works and institutions that are of high societal benefit but cannot be profitably undertaken by individuals or small groups due to insufficient private return on investment.

## Source Chapter

Book V, Chapter 1

## Context

The third and final of the sovereign's three primary duties, encompassing infrastructure for commerce and institutions for education, representing the most extensive category of public expenditure.

## Economic Domain

Regulation

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