The development of economic planning in Malta

Abstract

During the eighteenth and nineteenth century the laissez faire doctrine had been adopted in most countries of the world and prominent economists at that time believed in this doctrine which in the main is based on the proposition that the economic affairs of society will take care of themselves if neither the state nor any other body armed with authority attempts to interfere with their working as determined by the individual actions of men. In the twentieth century attention changed to ensuring an equitable distribution of income by systems of taxes and benefits and state intervention in industry and commerce grew as a set of economic and social opinions developed. After the Second World War Malta too began to feel the need for a planned economy in which the Government would direct the use of economic resources in the interest of the community.