Public Finance in Democratic Process: Fiscal Institutions and Individual Choice

James M. Buchanan.
Buchanan, James M.
(1919- )
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First Pub. Date
Indianapolis, IN: Liberty Fund, Inc.
Pub. Date
Foreword by Geoffrey Brennan.
The text of this edition is copyright ©: 1967, 1987 The University of North Carolina Press. Foreword ©: 1999 Liberty Fund, Inc. Picture of James M. Buchanan: File photo detail, courtesy Liberty Fund, Inc. James M. Buchanan with portrait of Knut Wicksell, Stockholm, Sweden, 1986.
About this Book

Fiscal theory is normally discussed in a frame of reference wholly different from that adopted in this book. This dramatic shift of emphasis plays havoc with disciplinary orthodoxy, and few guideposts remain to indicate whether or not the bounds of reasoned argument have been overextended. By necessity the approach taken here requires that I consider the processes through which individual choices are transmitted, combined, and transformed into collective outcomes. Careful research and scholarship in this area is in its infancy, and the necessary reliance on crude, unsophisticated models underscores the exploratory nature of the work. [From the Preface]