The Demand and Supply of Public Goods

James M. Buchanan.
Buchanan, James M.
(1919- )
CEE
Display paragraphs in this book containing:
1 of 14
NEXT End
Card Catalog Information
First Pub. Date
1968
Publisher
Indianapolis, IN: Liberty Fund, Inc.
Pub. Date
1999
Comments
First published in 1968 by Rand McNally & Company. Foreword by Geoffrey Brennan.
Copyright
The text of this edition is copyright ©: 1999 Liberty Fund, Inc. Picture of James M. Buchanan: File photo detail, courtesy Liberty Fund, Inc. James M. Buchanan, Charlottesville, Virginia, 1964.
About this Book

The title, "The Demand and Supply of Public Goods," has been selected to emphasize those features that set the book apart from orthodox public finance and at the same time tie it to neoclassical economics. Public finance, traditionally, has neither contained a theory of demand nor one of supply. Public goods and services have not been central to this subdiscipline. Public finance has been rather straightforward applied price theory, and its scientific content has been limited to predictions about the reactions of individuals and firms to fiscal institutions. The scholar from outer space, coming to earth in the post-Marshallian era, might have concluded on perusing the English-language literature that governments exist wholly apart from their citizens, that these units impose taxes on individuals and firms primarily to nourish the state; and he might have thought that positive public finance consists in predicting the effects of these taxes. Normative public finance, observed alongside the positive elements, consists in pronouncements about how taxes should be imposed.... [From the Preface]