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The Public Economy in Crisis - A Call for a New Public Economics (Paperback, 1st ed. 2016)
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The Public Economy in Crisis - A Call for a New Public Economics (Paperback, 1st ed. 2016)
Series: SpringerBriefs in Economics
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This Brief proposes a new theory of public economics which
deemphasizes reliance on the free market and affirms the importance
of public goods and services within the context of the democratic
process and constitutional governance. Public non-market production
makes up from a quarter to more than half of all economic activity
in advanced democratic nation-states. Yet by imposing market
precepts on the public domain, as mainstream economics, political
science, and public administration do, public governing capacity is
weakened and the democratic system suffers. Agencies originally
created to meet public needs are being warped into entities whose
purpose is to generate revenue and, in some cases, deliver private
profits at public expense. Drawing on classic public finance
literature, this book illustrates the differences between public
economy and the market model and why those differences matter.
Building on this, the Brief sketches the elements of a new theory
of the public non-market and illuminates its connections to the
delegation of power and collective provision of resources from the
polity. This book will be useful to scholars of public economics,
political science, and public administration as well as policy
makers and those working in the public sector.
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