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eBook Public Finance and Public Choice: Two Contrasting Visions of the State (CESifo Book Series) epub

by Richard A. Musgrave,Clemens Fuest,James M. Buchanan

eBook Public Finance and Public Choice: Two Contrasting Visions of the State (CESifo Book Series) epub
  • ISBN: 0262024624
  • Author: Richard A. Musgrave,Clemens Fuest,James M. Buchanan
  • Genre: Social Sciences
  • Subcategory: Politics & Government
  • Language: English
  • Publisher: The MIT Press (October 22, 1999)
  • Pages: 282 pages
  • ePUB size: 1361 kb
  • FB2 size 1272 kb
  • Formats lrf txt docx mbr


James M. Buchanan and Richard A. Musgrave are the pioneers of public finance in the United States. This book provides a unique opportunity to hear them talk to each other about their contrasting approaches to the discipline.

James M. Two towering pillars of 20th century public economics examine the deep foundations of their own thought and their common subject.

Start by marking Public Finance and Public Choice: Two Contrasting . Richard A. Musgrave, a founder of modern public finance, points to market failures and inequities that call for corrective public policies.

Start by marking Public Finance and Public Choice: Two Contrasting Visions of the State as Want to Read: Want to Read savin. ant to Read. Details (if other): Cancel. Thanks for telling us about the problem. 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 March, 1998, a series of public discussions between James Buchanan and Richard Musgrave took place at the University of Munich; these along with questions from the audience and an Introduction and Conclusion by Hans-Werner Sinn, are transcribed in this valuable book

In March, 1998, a series of public discussions between James Buchanan and Richard Musgrave took place at the University of Munich; these along with questions from the audience and an Introduction and Conclusion by Hans-Werner Sinn, are transcribed in this valuable book. I found by far the most enlightening aspect of the discussion the portrait of Richard Musgrave. Now approaching ninety, he is the "grand old man" of public finance and was vastly influential during the New Frontier and Great Society, of blessed memory

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His book The Theory of Public Finance (1959) remains a leading theoretical work. Public Finance and Public Choice: Two Contrasting Visions of the State. Public Finance in Theory and Practice (1973), co-authored with his wife, Peggy Brewer Musgrave, was a leading textbook for many years. Martin Feldstein is quoted in the New York Times obituary (Jan 20, 2007) "Richard Musgrave transformed economics in the 1950s and 1960s from a descriptive and institutional subject to one that used the tools of Microeconomics and Keynesian Macroeconomics to understand the effect of taxes.

Similar books to Public Finance and Public Choice: Two Contrasting .

Similar books to Public Finance and Public Choice: Two Contrasting Visions of the State (CESifo Seminar Series). The book is based off of a five day lecture series between Buchanan and Musgrave, and if you have problems with reading a lecture series, then it will be a tough read. I however found it relatively easy, especially if you read Stiglitz's Economics of the Public Sector while reading this.

Richard Abel Musgrave was German economics professor. Recipient Frank E. Seidman award in political economy, 1981. Fellow American Academy Arts and Sciences; distinguished fellow American Economic Association (executive committee 1956-1959, vice president 1962); honorary member National Tax Association; member National Academy of Sciences, International Seminar in Public economics, International Institute Public Finance (honorary president 1978).

Even Samuelson highlights the public choice work of Buchanan and Gordon Tullock in his latest textbook. In their debates, Musgrave defended social insurance, progressive taxation, and the growth of the public sector as the price we pay for civilization. Buchanan blamed democratic politics for a bloated public sector, with governments faced with open-ended entitlement claims, resulting in moral depravity.

Journal of Public Policy. URL: al-of-public-policy. Your name Please enter your name.

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.

Comments: (4)
Mora
I had high hopes for this book; the transcript of a symposium featuring a back-and-forth dialogue of sorts by two leading thinkers in the area of public choice and finance would seem ideal, and as an introduction to the field, it was quite good. Where it fell short is in offering an analysis of the ideas on which the differences between the participants' views lay. Rather, one tended to offer his outlook on, say, the proper redistributive function of a government, or whether brakes on power are best set at the constitutional level, and the other would offer his views. So there was very little in the way of attacking the weak points of each other's arguments directly. Put simply, Buchanan does not trust people in positions of power, while Musgrave does. Buchanan's work usually involves modeling how things work, while Musgrave looks at how he thinks things should be. But there is little exploration of the basis for, for instance, Musgrave's frequent assertions that, well, things tend to be this way and we aren't happy with that so you see we need government intervention. He just goes on, and then when it is Buchanan's turn, he goes on. And the book is rather philosophical in nature; while there is a lot of economics jargon throughout, the overall level is general. It all just seemed a bit too civil.
MeGa_NunC
There is no better way to gain a perspective on economists' different approaches to public policy than to engage the dialogue between two grand old men, James Buchanan on the left, Richard Musgrave on the right. Each has been a towering figure on his own side of the tug of war between two competing visions of what is and what should be.
Vetibert
Thanks
Thundershaper
It's a book that we have been using for a graduate level public finance course. It's a typical argument between the market functioning or having government involvement.

The book is based off of a five day lecture series between Buchanan and Musgrave, and if you have problems with reading a lecture series, then it will be a tough read. I however found it relatively easy, especially if you read Stiglitz's Economics of the Public Sector while reading this. Try and align the topic in this book with the chapter in the Stiglitz text. It allows for easier comprehension of the ideas presented by each economist.
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