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Are the way in which governments tax and spend efficient, and are they equitable? These questions are central to public sector economics and this second edition of "Public Finance and Public Choice" illustrates the controversies which surround them. It continues to focus on both the social optimality and public choice approaches but also includes alternative perspectives. Extensively rewritten, it offers further microeconomic insight and additional examples of the application of theory. New sections include: the private provision of public goods; privatization; the quasi market; the EC budget; QALYs (Quality Adjusted Life Years); public debt; and the impact of the public sector on economic growth. The text offers a complete course in the economics of the public sector and should be a valuable text for students studying public economics, and also for students taking technical public policy or public administration courses.
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'A first-rate textbook which should be a core part of any undergraduate public economics course. It is not intimidating and combines clear exposition and comprehensive coverage of the topics in a very readable style' (Dr Dieter Helm, Fellow in Economics, New College, Oxford)
'This book fills a genuine need by providing a joint introduction to Public Choice and Public Finance ... By integrating the discussion Cullis and Jones produce a much more useful textbook. Further, this integration makes certain inter-relations much clearer than they would be in the ordinary handling. Altogether, people interested in keeping students up to date on recent developments will find this a most useful aide.' (Professor Gordon Tullock, Karl Eller Professor of Political Science, The University of Arizona)
John Cullis is Reader in Economics in the Centre for Development Studies at the University of Bath. Philip Jones is Professor of Economics in the Department of Economics and International Development at the University of Bath.
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