The Economics of Government

Complexity and the Practice of Public Finance
Oxford University Press
  • erschienen am 2. Oktober 2020
  • |
  • 240 Seiten
E-Book | PDF mit Adobe-DRM | Systemvoraussetzungen
978-0-19-263632-4 (ISBN)
Public finance is an important branch of economics. Over the years it has become more important, more controversial, and more complex. Much of the academic writing on it is highly theoretical, and it is often done by economists who have had little real world experience. Vito Tanzi has been continually engaged in this field for almost six decades, as a professor of public finance, a practitioner of it in many countries, and as a researcher, and has witnessed first-hand the growing gap between theoretical work and the real life practice of public finance. Public finance has come to be increasingly influenced by the pursuit of multiple government goals and by the growing complexity that now characterizes fiscal policy and government programs in many countries. Notably, the goal of simplicity has played only a small role in the practice of public finance and in academic work. Complexity puts a dense fog around many policies, making it difficult to predict and assess the results. This book aims to highlight to both economists and policymakers the need for simplicity in policies. It also aims to inform students of public finance and public policy about this growing problem and the need to pay more attention to it.
  • Englisch
  • Oxford
  • |
  • Großbritannien
  • 1,91 MB
978-0-19-263632-4 (9780192636324)
weitere Ausgaben werden ermittelt
Dr Vito Tanzi has a Harvard PhD in Economics, which he received in 1967. He was Professor of Economics at the American University (1967-76), Head of the Tax Policy Division at the IMF (1974-1981), President of the International Institute of Public Finance (1990- 1994) at the Commendatore della Repubblica Italiana, Director of the Fiscal Affairs Department at the IMF (1981-2000), and Undersecretary for Economy and Finance with the Italian Government (2001-2003). Dr Tanzi has been an independent research scholar since 2003. He has received five honorary degrees from universities in four countries and several other prizes. The economic effect 'The Tanzi effect' was named after him.
  • Cover
  • The Economics of Government: Complexity and the Practice of Public Finance
  • Copyright
  • Preface
  • Acknowledgments
  • Contents
  • List of Tables
  • Part I: Historical Developments and The Growing Economic Role of The State
  • 1: Introduction
  • Reference
  • 2: Government Role and Public Spending: Historical Background
  • I. Introduction
  • II. The Role of the State During the Laissez Faire Years
  • III. The Economic Role of the State in the Twentieth Century
  • IV. Public Spending after World War Two
  • References
  • 3: Hayek, Keynes, and the Economic Role of the State
  • I. Two Great Economists' Views on the Role of Government
  • II. A World Undergoing a Great Transformation
  • III. Socialism, Economic Planning, and Hayek's Road to Serfdom through Planning
  • IV. The Stabilization Role of the Government
  • V. Concluding Remarks
  • References
  • 4: From the Keynesian to the Supply-Side Revolution
  • I. Introduction
  • II. New Economic Theories
  • III. Marginal Tax Rates and Economic Growth
  • Effects on labor participation
  • Effects on Saving Behavior
  • IV. Policy Lessons
  • V. Concluding Remarks
  • Notes
  • References
  • 5: Why the Normative and Positive Roles of Governments Differ
  • I. General Versus Particularistic Policies
  • II. Citizens' Interests and Policymakers' Actions
  • III. The Tools Available to Policymakers
  • IV. Governmental Activity and Government Termites
  • V. Summary and Conclusions
  • References
  • 6: The Political Economy of Fiscal Deficit Reductions
  • I. Fiscal Imbalances and Government Responses
  • II. Credibility and Biases in Official Pronouncements
  • III. Control over Policymaking
  • IV. Control over Policy Instruments
  • V. Concluding Remarks
  • References
  • 7: The Theory versus the Reality of Fiscal Policy
  • I. The Modern Theory of Fiscal Policy
  • II. The Main Elements of the Theory of Fiscal Policy
  • III. Main Assumptions of the Theory
  • IV. The Theory versus the Reality
  • V. Fiscal Deficits and Fiscal Rules
  • VI. Concluding Remarks
  • Notes
  • References
  • Part II: On the Growth of Complexity in Policy
  • 8: Systemic Failure, Complexity, and Public Policies
  • I. Complexity in the Modern World
  • II. Technological Failures
  • III. Financial Failures
  • IV. Failures of Whole Economies
  • V. Complexity and the Future of Market Economies
  • VI. Complexity and Monetary Policy
  • VII. Complexity and Income Distribution
  • VIII. Concluding Remarks
  • References
  • 9: The Design of Social Policy and Welfare Systems
  • I. Introduction
  • II. Social Policies and their Characteristics
  • The Use of Vital Incomes
  • Programs to Cover Universal Risks
  • III. On Means-Tested Government Programs
  • IV. Tax Systems as Welfare Tools
  • V. Concluding Remarks
  • References
  • 10: Complexity, Corruption, and Tax Evasion
  • I. Introduction
  • II. Tax Evasion and Corruption
  • III. Factors Contributing to Tax Evasion and to Corruption
  • IV. Complexity and its Economic Consequences
  • V. The Global Dimension
  • VI. Concluding Remarks
  • References
  • 11: The Elusive Harmony between Government and Market Roles
  • I. Introduction
  • II. The Period before the Great Depression
  • III. A Brief Digression on the "Scienza delle Finanze"
  • IV. From Laissez Faire to Welfare States
  • V. From the Keynesian Revolution to Modern Social Policies
  • VI. More on the Supply-side Revolution and on Market Fundamentalism
  • References
  • 12: Issues with the Current Uneven Income Distributions
  • References
  • 13: Complexity in Stabilization Policies
  • I. Changes in Socio-Economic Conditions
  • II. Importance of Economic Ecology and of Initial Fiscal Conditions
  • III. Concluding Comments
  • References
  • 14: Concluding Thoughts
  • Index

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