Public Finance and Public Policy: Responsibilities and Limitations of GovernmentThis textbook systematically sets forth the basic issues involved in public finance and public policy. All issues investigated explore the choice between voluntary market decision to earn and spend income versus assignment of responsibility to governments to tax and spend. The ten specific areas covered are markets and property, collective benefits, voting on public speaking, market corrections, social justice, political processes and redistribution, taxation, user pricing, public policy for welfare issues, and the question of how much government is needed in the modern state. |
Contents
MARKETS AND PROPERTY | 1 |
11 A First Account | 3 |
12 Property Rights and the Rule of Law | 24 |
13 Life under Maximal Government | 52 |
COLLECTIVE BENEFITS | 61 |
21 Public Goods | 63 |
22 Information and Public Goods | 96 |
23 Public Finance for Public Goods | 127 |
101 Health Insurance and Health Care | 617 |
102 Education | 630 |
103 Providing for Retirement | 649 |
Why Views Can Differ | 675 |
Supplements | 681 |
1A The Efficiency of a Competitive Market | 683 |
1B The Efficiency of a Competitive Economy | 686 |
1C Why Choose Collective Property? | 693 |
VOTING AND PUBLIC GOODS | 159 |
31 Majority Voting and Public Goods | 161 |
32 Political Competition and Public Spending | 186 |
33 The Implementation of Collective Decisions by Government Bureaucracy | 212 |
MARKET CORRECTIONS | 227 |
41 Private Solutions for Externalities | 229 |
42 Public Policy and Externalities | 258 |
43 Prohibition of Markets | 294 |
SOCIAL JUSTICE | 309 |
51 Social Welfare and Social Insurance | 311 |
52 Entitlements and Incentives | 350 |
53 Social Justice without Government | 373 |
POLITICS AND REDISTRIBUTION | 391 |
61 Voting and Redistribution | 393 |
62 Political Behavior and Public Policy | 416 |
63 Public Policy and RentSeeking Behavior | 447 |
TAXATION | 461 |
71 Personal Taxation | 463 |
72 What to Tax? | 493 |
73 Refusal to Pay Taxes | 515 |
USER PRICES | 527 |
81 User Prices for Public Goods | 529 |
82 User Pricing and Crowding | 545 |
83 User Pricing and Natural Monopoly | 552 |
HOW MUCH GOVERNMENT? | 565 |
91 Multiple Government | 567 |
92 Cooperation and Trust as a Substitute for Government | 585 |
93 Growth of Government and Constitutional Restraint | 600 |
HEALTH EDUCATION AND RETIREMENT | 615 |
1D A LaborManaged Firm | 694 |
2A Efficiency with Public and Private Goods | 695 |
2B Group Size and Voluntary Collective Action | 697 |
2C Income Distribution and Voluntary Collective Action | 704 |
2D Sequential Voluntary Financing of Public Goods | 708 |
2E Income Effects and the Excess Burden of Taxation | 709 |
2F Empirical Measurement of the Excess Burden of Taxation | 711 |
3A Political Competition with Many Candidates | 712 |
4A The Tragedy of the Commons | 713 |
4B An Impediment to Replicating Missing Markets | 716 |
4C Protection of Dolphins | 719 |
5A An Impossibility Theorem for Social Aggregation | 720 |
56 Measurement of Income Inequality | 721 |
5C Social Status and Private Charity | 725 |
6B A Case of Extreme Corruption | 727 |
6C Theoretical Models of Rent Seeking | 728 |
6D Rents and Protectionist International Trade Policies | 737 |
7A Measuring the Size of the Shadow Economy | 739 |
7B Tax Evasion and the ValueAdded Tax | 740 |
7C Tax Evasion through Expense Accounts | 741 |
8B User Pricing and Prisons | 742 |
8C Supplemental User Pricing | 743 |
10A EmployerProvided Health Insurance | 744 |
10C Costs of Medical Education and Training | 745 |
10E Intertemporal Markets | 746 |
749 | |
761 | |
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Public Finance and Public Policy: Responsibilities and Limitations of Government Arye L. Hillman No preview available - 2003 |
Common terms and phrases
adverse selection behavior bond financing burden of taxation candidate capital choose coalition Coase theorem competitive market consumption contest contract curve contributions cost cost-benefit cost-benefit analysis determined dilemma distribution earned Economic effect efficiency losses entitlements environmental equal example excess burden Figure finance public future government bureaucracy incentives income redistribution income tax income transfers increases individual inefficient intergenerational jurisdiction Lindahl majority voting marginal maximize median voter moral hazard Nash equilibrium natural monopoly output Pareto-efficient payments percent personal benefit personal income Pigovian tax political decision makers politicians population preferences principal-agent problem prisoners production provide the public public finance public policy public spending public-good quantity Ramsey rule rent seeking response rule of law social insurance social justice social norms social welfare function society special-interest spending on public subsidy supply tax evasion tax rate tax revenue taxpayers user prices utility valuation voluntary