In his foreword, Geoffrey Brennan states, "The papers in this
volume represent a coherent set of pieces focused on aspects of
public-expenditure theory and constitute all of Buchanan's papers
in this area."
Buchanan's work on the subject of what governments should do and
his insistence on Knut Wicksell's ideal that taxation and public
expenditure be integrated topics have contributed significantly to
the current thinking of most economists on the topic. Geoffrey
Brennan summarizes Buchanan's central themes in this way, "There
are two messages that emerge from this work: one is that a proper
sense of the "extent" of market failure, rather than its mere
"presence, " is relevant in all cases; the other is that
'correcting' for such market failure is often a complex
multidimensional business not captured by direct public provision
at zero price and not necessarily involving expansion of market
The twenty-nine papers represented in this volume are grouped into
these major subject categories:
1.Public Services and Collective Action
3.Clubs and Joint Supply
4.Public Goods Theory
5.Applications--City, Health, and Social Security
6.Distributive Norms and Collective Action
This volume also includes what are arguably Buchanan's two most
famous articles: "Externality," which he wrote with William
Stubblebine, and "Economic Theory of Clubs."
James M. Buchanan is an eminent economist who won the Alfred Nobel
Memorial Prize in Economic Sciences in 1986 and is considered one
of the greatest scholars of liberty in the twentieth century.
Unfortunately, after this book had been printed and bound, it was
discovered that, due to a production error, the index contained
some erroneous page numbers. Please click on the pdf file below to
obtain the corrected index that should replace the index bound into
the back of the book. When this volume goes back to press for a
second printing, the index will be updated with the pages in this
pdf file, and we will be pleased to send all buyers of the
erroneous Volume 15 a corrected copy of the book at no extra
Click here for a pdf file of the corrected index.
The entire series will include:
Volume 1 "The Logical Foundations of Constitutional Liberty"
Volume 2 "Public Principles of Public Debt "
Volume 3 "The Calculus of Consent "
Volume 4 "Public Finance in Democratic Process"
Volume 5 "The Demand and Supply of Public Goods"
Volume 6 "Cost and Choice"
Volume 7 "The Limits of Liberty"
Volume 8 "Democracy in Deficit"
Volume 9 "The Power to Tax"
Volume 10 "The Reason of Rules"
Volume 11 "Politics by Principle, Not Interest"
Volume 12 "Economic Inquiry and Its Logic"
Volume 13 "Politics as Public Choice"
Volume 14 "Debt and Taxes"
Volume 15 "Externalities and Public Expenditure Theory"
Volume 16 "Choice, Contract, and Constitutions"
Volume 17 "Moral Science and Moral Order"
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