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.
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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.
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