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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.
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
When market forces fail us, what are we to do? Who will step in to protect the public interest? The government, right? Wrong. The romantic view of bureaucrats c
This book argues that while the US president makes foreign policy decisions based largely on political pressures, it is concentrated interests that shape the in
In 1962, economists James M. Buchanan and Gordon Tullock published The Calculus of Consent, in which they developed the principles of public choice theory. In t
