The United States has one of the most unique budgeting processes of any modern government. The "powers of the purse" are enumerated under the Constitution, but they were hotly debated by the nation's founding fathers. However, the lack of a legal guide for exactly how to delegate the powers, and under what conditions, has led to a process marked by power struggles-primarily between Congress and the presidency-over the last 230 years. Still, the budget and appropriations process is central to the functioning of the federal government. This book covers the transformation of American government through the lens of shifting budgeting power, while documenting the evolution of economic policy through the federal budget. As the nation and the federal government have expanded, the budget process has entirely broken down. This book also recommends changes that would help the budget process function more effectively. The chapters are organized both chronologically and topically to help the reader think through the evolution of the budget process. With its comprehensive approach to the history of the budget process-covering the entirety of US federal existence-this book will be a go-to resource for academics and public policy professionals interested in Congressional and executive history.

This book explains the nuts and bolts of affordable housing development. Divided into two complementary sections, the book first provides an overview of the effectiveness of existing federal and state housing programs in the United States, such as the LIHTC and TIF programs. In turn, the book's second section presents an extensive discussion of and insights into the financial feasibility of an affordable real estate development project. Researchers, policymakers and organizations in the public, private and nonprofit sectors will find this book a valuable resource in addressing the concrete needs of affordable housing development. "Luque, Ikromov, and Noseworthy's new book on Affordable Housing Development is a "must read" for all those seeking to address the growing and vexing problem of affordable housing supply. The authors provide important insights and practical demonstration of important financial tools often necessary to the financial feasibility of such projects, including tax-increment financing and the Low-Income Housing Tax Credit. Further, the authors provide important backdrop to the affordability crisis and homelessness. I highly recommend this book to all who seek both to articulate and enhance housing access." By Stuart Gabriel, Arden Realty Chair, Professor of Finance and Director, Richard S. Ziman Center for Real Estate at UCLA "Over several years Jaime Luque, Nuriddin Ikromov and William Noseworthy applied their analytical bent, and no small measure of empathy, to homelessness as actually experienced in Madison, Wisconsin - and they inspired multiple classes of urban economics students to join them. "Homelessness" is a complex web of issues affecting a spectrum of populations, from individuals struggling with addiction or emotional disorders, to families who've been dealt a bad hand in an often-unforgiving economy. Read this book to follow Jaime, Nuriddin, and William as they evaluate a panoply of housing and social programs, complementing the usual top-down design perspective with practical analysis of the feasibility of actual developments and their effectiveness. Analytical but written for a broad audience, this book will be of interest to anyone running a low-income housing program, private and public developers, students, and any instructor designing a learning-by-doing course that blends rigor with real-world application to a local problem." By Stephen Malpezzi, Professor Emeritus, James A. Graaskamp Center for Real Estate, Wisconsin School of Business, University of Wisconsin-Madison, and Dean, Weimer School of the Homer Hoyt Institute.

The book compares neoclassical and Marxian economics and points out that both the schools of thought seek to analyze how a capitalist society functions. The authors show that the neoclassical economics vindicates capitalism and prescribes policies that further the interest of the rich (giant capitalists), who own most of the non-human productive resources of the economy, whereas Marxian analysis yields the result that a capitalist society is exploitative and crisis-prone. Marxian economics also suggests that the class struggle inherent in a capitalist society will eventually transform it into an equal, just and humane socialist society The book also presents Keynesian theory, which suggests measures that can counter at least some of the crises that Marx said a capitalist country is subject to. It discusses the current state of the capitalist world, the recent crises it was subject to and assesses the three theories in the light of these experiences. It recounts the current states of two important socialist states, namely, China and Cuba. It discusses the economic performance of Soviet Union since its birth and explains the reasons for its disintegration. It compares economic performances of the capitalist and the socialist states and assesses in the light of the experiences of these two blocs of countries which school of thought is more acceptable and closer to the truth.

Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored. The first part starts from the "old" growth theory and bridges to the "new" growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored. The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.

The political consensus in the United States today is that the nation avoid deficit spending. But as virtuous and unassailable as that goal sounds, it has fallacies and dangers. In a lucid, nontechnical writing style, Benavie shows that deficits can be either good or bad and explains how to tell the difference. Deficits, or government borrowing, can be beneficial or harmful depending on what the government does with the money. Preventing such borrowing, Benavie points out, would be comparable to preventing one's family from borrowing money to buy a house or to put a child through college. Deficits can be beneficial to the nation's economic health in three main ways. When the economy slumps, a deficit, which is automatically created, helps to reduce the severity of the recession. When the economy is seriously depressed, boosting the deficit may be the only cure. Finally, deficits to support such investments as basic research, cleaning up toxic waste, and rebuilding inner cities are crucial to the economic health of future generations.

This book deeply analyzes the theoretical roots of the development of global artificial intelligence ethics and AI governance, the ethical issues in AI application scenarios, and the discussion of artificial intelligence governance issues from a global perspective. From the perspective of knowledge, the book includes not only the metaphysical research of traditional Western ethics, but also the interpretation of AI-related practical cases and international policies. The purpose of this book is not only to study AI ethics and governance issues academically, but to seek a path to solve problems in the real world. It is a very meaningful monograph in both academic theory and reality. This book responds to the implementation of China's digital economy governance and other topics. It is a cutting-edge academic monograph that combines industry, policy, and thought. In this book, the author not only discusses the humanities thoughts such as ethics, political economy, philosophy, and sociology, but also involves computer science, biology, and medicine and other science and engineering disciplines, effectively using interdisciplinary thinking as readers clarify how to explore ethical consensus and establish smart social governance rules in the era of artificial intelligence, so as to provide the most comprehensive and unique scientific and technological insights for smart economy participants, related practitioners in the artificial intelligence industry, and government policy makers. For academia, this is a representative book of Chinese scholars' systematic thinking on AI ethical propositions from a global perspective. For the industry, this is a book that understands the policies and ethical propositions faced by the development of AI industry. An important reference book, for policy makers, this is a monograph for understanding how policies in the AI industry make decisions that conform to AI industry practices and people's moral order.

State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. This fifth edition maintains its focus on key local services such as education, health care, and transportation and brings in new coverage of land use and housing, applications from behavioral economics, and more international comparisons. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behavior and policies of state and local governments. Modern economic theory is applied to examine the way key institutions are used to produce and finance services and to provide evaluation of alternative policies. This stalwart text will continue to be invaluable reading for those who study public finance, local government finance, urban economics, public policy, and public administration.

State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. This fifth edition maintains its focus on key local services such as education, health care, and transportation and brings in new coverage of land use and housing, applications from behavioral economics, and more international comparisons. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behavior and policies of state and local governments. Modern economic theory is applied to examine the way key institutions are used to produce and finance services and to provide evaluation of alternative policies. This stalwart text will continue to be invaluable reading for those who study public finance, local government finance, urban economics, public policy, and public administration.

"Understanding United States Government Growth" develops and tests alternative explanations of government growth since World War II. It opens with an analysis of debate about the causes and consequences of government growth, including the excessive government view that the public sector has grown beyond the scope demanded by citizens due to its own structural defects, and the responsive interpretation that government has gown because it has reacted appropriately to external public demands. The authors review the major political and economic explanations for government growth and criticize earlier empirical attempts to test these explanations. In the second half of the book, they distinguish four components of government growth: growth in the cost of government and growth in the scope of government activities in three domains--transfer payments, domestic purchases, and defense purchases. Both responsive and excessive explanations of each of these components of growth are developed and tested to allow an evaluation of the validity of the two contrasting views about big government.

Second in a two-volume set, this book discusses the role of public-private partnerships (PPPs) in global transportation infrastructure, specifically focusing on roads, bridges, and parking. To provide vital services in an era of shrinking government budgets, public-private partnerships have become an increasingly important part of travel infrastructure worldwide. This book describes and analyses the structure of various models of PPPs in several countries, evaluating their effectiveness, and drawing policy implications for future use. The chapters were written by leading international researchers and practitioners in the transportation field where each chapter is a case study on the adoption, implementation, and outcome of transportation services. Taken together, these diverse case studies provide an integrated framework for evaluating, using PPPs, and suggesting policy implications to both the public and the private sectors in transportation. Providing rigorous empirical analysis of PPPs in transportation, this volume will be of interest to researchers in public administration, political science, public choice, and economics as well as practitioners and policymakers involved in establishing and monitoring PPPs in transportation.

This volume provides the most important essays and papers on urban and regional policy, making it a convenient summary of the key theories, approaches and research results.The study of sub-national politics is no longer mainly concerned with the urban political decision-making process and now focuses on the political, economic and social preconditions for urban policy. As the articles and papers reprinted in this volume demonstrate, local and regional politics are increasingly important features of most Western democracies. Economic and political life are more and more determined by changes occurring at the local, regional and global levels rather than at the national level. This volume seeks to cover the most important elements of research on local government with a particular emphasis on different approaches and theories of urban political economy. The volume covers, in turn, the study of urban politics and government, theories of local government, central-local relationships and local autonomy, local politics, the political economy of local government and regional policy.

Building on his earlier Praeger work, "Contemporary EconomicS," Rich here examines current and historical, theoretical and practical, notions of welfare economics. Through an in-depth discussion of the theories of Edgeworth, Pareto, and Slutsky, the author analyzes how the present approach to welfare economics developed and how it has failed in significant ways to alleviate the problems of poverty and unemployment. Rich then develops a new theory of welfare economics based on the concept of dynamic disequilibrium and designed to respond to present-day economic and social realities. Scholars and students of both economics and public policy will find Rich's work a significant contribution to contemporary debates on welfare policy directions.

Divided into four parts, the volume begins by redefining the problem of welfare economics. In contrast to those who see the problem as simply the redistribution of income, Rich argues that the challenge today is to use our present economic system to absorb welfare recipients and make them productive members of the economy. He argues further that current approaches to the welfare situation are Keynesian and therefore relevant to a different era--that of the Great Depression. In subsequent chapters, Rich develops his theory of contemporary welfare economics, utilizing a welfare utility function and incorporating the components of government, industry, and labor. Designed to make the economy more efficient without the redistribution of income, Rich's proposals include making welfare payments contingent upon training and applying training to the needs of the business sector. Only by employing a theory more rooted in contemporary realities, Rich argues, can we ultimately remove the heavy burden of welfare so detrimental to large segments of society.

The book covers a wide range of issues in Turkish economy and aims to discuss the problems, challenges and potential of Turkey in various sectors. The topics covered in the book include areas related to macroeconomics and monetary economics (inflation expectations, determinants and conduct of monetary policy), labor economics (earning differences, overeducation in labor markets), health economics (adult obesity), tourism economics (tourism response to disruptive events) and energy economics (solar energy systems). The book is written in a format so that general readers who are interested in the Turkish economy can easily read and have a deep understanding of the current economic issues in Turkey. In addition, the book is suitable for usage in the related courses as a textbook at the undergrauate and masters level in the fields of economics and business.

This book provides the reader with the basis for a theoretical understanding of public-sector finance in general - and more specifically, a comprehensive, policy-oriented application of that understanding to Japanese public finance. Particular emphasis is placed upon developing tools which can be used both theoretically and empirically to clarify essential economic concerns in Japan's public sector. These include the macroeconomic incidence of fiscal decentralization, dependence on government bonds for covering fiscal deficits, and social security reform. In analyzing Japan's underperforming public sector, the authors develop and recommend policy solutions aimed at achieving Japan's growth potential, improving the quality of the public sector, and strengthening the sector's contribution to the Japanese economy. Guiding the reader toward an overall understanding of public-sector reforms, decentralization and fiscal policy in Japan, this book will strongly appeal to academics, students and researchers with an interest in modern public finance theory and macroeconomic analysis.

This book offers a systematic guide to the allocation of American taxpayer dollars used to provide for the common defense. With engaging and illustrative examples like the narrative of a helicopter purchase, it reveals an unexpectedly chaotic political process that produces a conversely stable aggregate defense budget. The book explores specific attempts to control or influence these turbulent funding outcomes as Congress reviews the Presidential budget request. Containing data and sources largely unavailable to researchers without access to the Department of Defense, the book should be of interest to anyone looking for a direct, current, and methodical analysis of defense budget outcomes that preserves the informal and nuanced mechanics of a political and complicated process.

Global developments in basic income have reinvigorated political debates on the necessity of progressing to universal basic income implementation. Basic income is a powerful strategy for addressing poverty gaps and growing inequality. This book provides new insights and strategies from an Australian political economy perspective to respond to implementation challenges and distributive justice. The book positions the disability dimension and disability pensions in relation to basic income to explore strategies for strengthening universal provisions. It illustrates the need for socially just conditions and adequate financing to underpin redistribution as a way of safeguarding the sustainability of basic income.

This contributed volume explores the political economy and socioeconomic aspects of the Greek Financial Crisis both within the country's borders and as part of the global economy. With chapters authored by international experts, this book examines and explicitly deals with specific and important issues that have been ignored by the dominant socioeconomic theory and practice, which have largely focused on the causes and broad economic consequences of the crisis. Discussions include the efficacy of new EU institutions created to address the crisis, the rise of unregistered economic activity, and comparisons with financial crises in countries beyond Europe. This diverse collection argues that the Greek Financial Crisis was not just an economic crisis, but a political and social crisis as well, one with repercussions beyond Europe.

In a multi-level government system institutional legacy and the assignment of roles and responsibilities between the federal and the subnational governments create imbalances. These imbalances in economic terms are a result of a mismatch between revenue-raising capacity and the spending responsibilities of the different levels of the government. Intergovernmental Transfers in Federations presents a synthesis of recent international experience of large federations in addressing the most fundamental issues of horizontal and vertical imbalances through the prism of intergovernmental transfers. It compares mature federal systems and the maturing federations of the world. Contributors delve into the various aspects of policymaking as well as policy choices in selecting an efficiency path for a meaningful fiscal devolution aimed at integrating performance and incentives to reach an expenditure mix that facilitates better service delivery. Chapters include empirical, theoretical and methodological contributions as well as case studies that illustrate important policy or methodological lessons for future work. This collection is essential reading for researchers, practitioners, policy makers and students wishing to understand the choices made by different countries in response to the overarching principles of needs, equity and efficiency for sharing of resources.

Some of the best writings on public budgeting and finance can be found in the journals that ASPA publishes or sponsors. For this volume editor Irene Rubin has brought together the best of these articles - emerging classics that address the most important theoretical and practical problems underlying public budgeting.The anthology is organized topically rather than historically, with an effort to delineate the issues needed to understand some of the more recent controversies in the field. Rubin's introductory essay and section openers frame the key issues and provide historical context for each article. The collection begins with descriptions of what public budgeting is, where it comes from, and what it is for. It moves on to the relationship between budget processes and outcomes, constraints on budgeting, the legal context in which it operates, and adaptations to those constraints such as contracting out.The book concludes with a discussion of the ethics and norms that underlie budgeting in a democracy. Throughout the anthology, the emphasis is on areas of disagreement and debate, so students can get involved and explore different viewpoints.

The Economics of Budget Deficits provides a comprehensive overview of the scholarly literature exploring the causes and consequences of deficit spending and the public debt. Incorporating classical, Keynesian and public choice analyses of debt-financed public expenditures, the two volumes contain major theoretical and empirical contributions to the debate. They cover such critical fiscal policy issues as the history and measurement of budget deficits, the question of who bears the burden of the public debt, the use of deficits to solve problems of dynamic policy inconsistency and the relative effectiveness of fiscal rules and constitutional constraints as mechanisms for achieving budget balance. The editors provide an authoritative introduction to the two volumes and separate overviews of each of the seven parts. The Economics of Budget Deficits is an indispensable reference for all scholars and students interested in fiscal policy and for all policymakers.

This book analyses several aspects of Hybrid Annuity Model (HAM), a form of hybrid public-private partnership (PPP) for development of roads sector in India. The book covers contractual, financing, taxation and accounting aspects of the HAM based PPP projects in India and provides a complete multi-dimensional view for readers. It is a comprehensive guide for multiple stakeholders involved in the development of infrastructure projects in developing economies across globe. The book is authored by professionals having hands-on advisory experience for HAM PPP projects in India. Given that these are long-term concession agreements (around 15 years), there are inherent complications and the authors have tried to provide clarity on practical issues. The book adopts a novel case-study approach. Based on detailed financial and commercial assumptions for a road project in India, the authors have used around 100 numerical illustrations to provide a quantitative and qualitative understanding for readers. Another highlight of the book is use of international case-studies to provide key learnings in areas of project preparation and structuring for such hybrid PPP models. The risk allocation framework is also contrasted with the HAM PPP model to highlight the key differences. The international case studies have been selected from transport and water sector to illustrate the applicability of hybrid PPPs across multiple sectors to support sustainable infrastructure development. The target audience for this book include private sector developers, government agencies, deal practitioners, advisors, researchers and academia . This book will also serve as a useful guide for commercial lenders, development finance institutions (DFIs) and institutional investors who are looking to finance such infrastructure projects in the long term.

This book explores the incentives and effects of modern welfare policy, contrasted with outcomes of global basic income pilots in the past seventy years. The author contends that paternalistic and counterproductive eligibility rules in the modern American welfare state violate the human dignity of the poor and make it nearly impossible to escape the "poverty trap." Furthermore, these types of restrictions are absent from expenditures aimed at middle and upper-income households such as mortgage interest deductions and tax-sheltered retirement accounts. Case examples from the author's years as a front-line social worker and interviews with basic income pilot recipients in Ontario, Canada, are woven throughout the book to better illustrate the effects of the current system and the hidden potential of more radical alternatives such as a universal basic income.

This monograph highlights the benefits of public-private partnerships (PPP) for Sub-Saharan Africa. By studying the intertwinement of mainstream and Islamic finance, the author shows how PPPs have emerged as a viable and efficient organizational vehicle for fair rules of economic cooperation where the trade-offs between profit maximization and social justice values required by Islamic finance occur within the organization. The book shows the assumptions under which such compromise is beneficial to all parties, including public entities, multicultural societies and private Islamic and conventional investors. It places particular emphasis on changing the principle of allocating public resources in the uncertain legal and economic environment of the region discussed. Given the cultural idiosyncrasies, political instability, and socio-economic turmoil but high development potential in Sub-Saharan Africa, PPPs with a heterodox approach may prove to be a game-changer in the region and a platform to find a compromise between the interests of various types of investors.

This book comprehensively presents the current practice and further development paths of public sector accounting, auditing and control systems in 7 South Eastern European countries based on the contributions of highly-respected researchers. Each chapter is a study of the territorial organisation, public sector scope, formulation and execution of central government and local and regional self-government budgets, accounting and financial reporting reforms and practice, audit and other oversight (supervision) in the public sector, and challenges in the further development of public sector accounting and auditing of each country. It also provides insights into the challenges that SEE countries are faced with as they move towards the adoption of accrual accounting and the implementation of IPSAS and/or EPSAS, and offers a valuable reference resource for academics, researchers, students, auditors, public administrators, policy makers and standard setters.

This book tackles political, social, and behavioural aspects of public finance and fiscal exchange. The book combines conventional approaches toward public finance with new developments in economics such as political governance, social and individual aspects of economic behaviour. It colligates public finance and behavioural economics and gathers original contributions within the emerging field of behavioural public finance. The book addresses public finance topics by incorporating political, social, and behavioural aspects of economic decision-making, assuming the tax relationship is shaped by three dimensions of decision-making. Thus, it aims not only to reflect the interdisciplinary nature of public finance by bringing together scholars from various disciplines but also to examine public finance through the lens of political, social, and behavioural aspects. The book scrutinizes the relationship between political institutions, governance types, and public finance; it investigates the impact of social context, social capital, and societal cooperation on public finance; it explores behavioural biases of individual fiscal preferences. This book is of interest to scholars, policymakers, tax professionals, business professionals, financers, university students, and researchers in the fields of public policy and economics.