Public Finance and Public Choice (2nd ed)
Are the way in which governments tax and spend efficient, and are they equitable? These questions are central to public sector economics and this second edition of Public Finance and Public Choice illustrates the controversies which surround them. This new edition continues to focus on both the social optimality and public choice approaches but also includes alternative perspectives. This successful text has been extensively rewritten, offering further microeconomic insight and additional examples of the application of theory. New sections include: The private provision of public goods Privatization The quasi market The EC budget QALYs (Quality Adjusted Life Years) Public debt The impact of the public sector on economic growth. This clearly written, rigorous text offers a complete course in the economics of the public sector. It will be an indispensable text for students studying public economics, and also for students taking technical public policy or public administration courses.
Readership: Main market is advanced undergraduates (second/third year undergraduates in UK and Europe) majoring in economics taking a course option entitled Public Economics. A relevant course may also be taught on Politics, Government or Public Administration degrees, entitled Public Finance, or Public Administration.
1 Market possibilities and prescriptions
2 Evaluating public finance policy: consumer surplus, welfare criteria and market failure
3 Public goods
4 Collective decision-making: searching for the "public interest"
5 Rent seeking, public provision and the "return to the market"
6 Evaluation of public expenditure: cost-benefit analysis
7 Tax theory: the basic concepts
8 Tax evasion and the black economy
9 Income (re)distribution
10 Central government
11 Public choice aspects of macroeconomic policies
12 Local government
13 International issues in public finance
14 Public sector failure and public expenditure growth
15 "Normative" optimal taxation
16 "Positive" optimal taxation