Public Finance Public Choice: Analytical Perspectives

The authors critically analyze varying approaches to public finance, contrasting the orthodox "social optimality" with the alternative "public choice" school. Both schools of thought are given full but critical attention, as well as some other approaches.

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This up to date and authoritative text provides a comprehensive coverage of all topics included on an undergraduate course in public sector economics. Throughout the text the orthodox social optimacity approach to public sector economics is contrasted with alternative public choice school. (The works of James Buchanan receives specific coverage). Both schools of thought are given full but critical attention. As well as the two schools mentioned above, further approaches, drawn from other social science disciplines, are examined. The authors' recognize the contribution of the public choice school, but this is qualified by a more critical appreciation of the possible failings of the market.