In this volume, based on a week-long symposium at the University of Munich's Center for Economic Studies, two leading scholars of governmental economics debate their divergent perspectives on the role of government and its fiscal functions.James M. Buchanan, who was influential in developing the research program in public choice, concentrates on the imperfections of the political process and stresses the need for rules to restrain governmental interference. Richard A. Musgrave, a founder of modern public finance, points to market failures and inequities that call for corrective public policies. They apply their differing economic and political philosophies to a variety of key issues. Each presentation is followed by a response and general discussion.
Executives: Expect More Economic Confusion Ahead Gallup.com Economic disciplines such as public finance and public choice have been doing so for many years. Behavioral economics is merging various aspects of psychology and economics. In this presidential election year, I think we will see much more merging of ... and more » |
