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The Welfare State, Public Investment, and Growth - Selected Papers from the 53rd Congress of the International Institute of Public Finance (Paperback, Softcover reprint of the original 1st ed. 1998)
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The Welfare State, Public Investment, and Growth - Selected Papers from the 53rd Congress of the International Institute of Public Finance (Paperback, Softcover reprint of the original 1st ed. 1998)
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This book presents fifteen papers selected from the papers read at
the 53rd Congress of the International Institute of Public Finance
held at Kyoto, Japan, in August 1997. Although organized under the
general title of Public Finance and Public Investment, the Congress
covered a wide range of topics in Public Finance. One of the
highlights of the Congress was a historic and brilliant debate
between two of the greatest living authorities in the area of
public finance, Professors James M. Buchanan and Richard A.
Musgrave, on the nature of the welfare state and its future. Part I
of this book is concerned with this debate and its empirical
counterpart. James M. Buchanan (Chapter 1) warns that the welfare
state will be unsustainable unless it preserves generality or at
least quasi generality in welfare programs. The introduction of
overt discrimination in welfare programs through means testing and
targeting can only diminish public support. He argues that a
political version of the "tragedy of commons" will emerge if and
when identifiable interest groups recognize the prospects of
particularized gains as promised by discriminatory tax or transfer
payments. Faced with mounting pressure from entitlement-like claims
of special interest groups against public revenues on one hand and
equally strong pressure against further tax burdens on the other,
political leaders are attracted to solutions that single out the
most vulnerable targets. Distributional disagreement among classes
will then become a major source of political discourse and an
impetus for class conflict.
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