Some Lessons from the New Public Finance
20 Pages Posted: 24 Jul 2007 Last revised: 2 Dec 2022
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Some Lessons from the New Public Finance
Date Written: October 1976
Abstract
In the last few years, there has developed a large literature, sometimes referred to as the new "public finance," providing a quantitative analysis of a number of traditional problems within the field. This paper is concerned with surveying, or interpreting, what can be learned from this literature; and our belief is that it has taught us a great deal. We concern ourselves here not so much with the derivation of precise formulae, e.g. for optimal tax rates, but with the more general lessons which have emerged.
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