The Public Finances [antikvár]

Preface The Public Finances was originally published in 1960. Much of the material in that original edition remains relevant to the study of public finance and continues as an integral part of the text. This is strong testimony to the stability of the fundamental principles of public finance. However, the past 25 years have also witnessed some important changes both in the theory and methodology of public finance and in the specific public pohcy issues that have commanded the major share of attention from students of applied public finance. A desire to remain "current" has dictated the changes made in the various editions of the text since 1960, and this, the sixth edition, is no different in that respect. Discussion of the growth of government has been present in every edition of this text but was expanded considerably beginning with the fourth edition published in 1975. This reflected the veritable explosion of public spending, particularly at the federal government level, which began in the late 1960s. The late 1970s were marked by an apparent dramatic shift of public attitudes in opposition to this trend, and the so-called taxpayers' revolt was manifest in numerous attempts at both state and federal levels to impose constitutional constraints on government size. In response to this, a new chapter dealing with constitutional limits on taxing and spending was included in the fifth edition, published in 1980. Throughout the first half of the 1980s, Congress and the president struggled with attempts to restrain the growth in federal spending and to pare down federal budget deficits, which were approaching unprecedented levels by mid-decade. A chapter dealing with some specific issues in federal budget control has been added to this sixth edition and includes discussion of various proposed amendments