Economics of the Public Sector: Third Edition

Rating:
Summary: mixed feelings
Review: accessible text for beginners, but the text is NO preparation for the end-of-chapter questions. With no available answer key and no help from a teacher, the questions are IMPOSSIBLE to answer leaving the student/reader/taker of test extremely tired and hungry and unsatisfied with econ knowledge at 2 in the morning.

Rating:
Summary: Comments
Review: All I've to say is that is an excelent book is very useful in careers like economy is very intuitive and easy to understand

Rating:
Summary: Review of Public Sector Economics by J. Stiglitz
Review: Excessive use of graphs and charts which are very difficult to follow. Some chapters read easily, others very difficult to understand. Would be better if it had a complementary teacher's guide. LRM

Rating:
Summary: A very uneven text
Review: I found reading this book a very frustrating experience. The good things include:

* Solid undergraduate discussion of the economics of taxation;

* An introductory discussion of a great many of the fascinating policy controversies of our time;

* Often a lively text by one of the most powerful minds in contemporary economics.

Flaws include:

* A failure to update many of the data and references carried over from the preceding (1988) edition;

* Too much focus on American facts and institutions;

* A failure to understand the Public Choice perspective;

* A failure to appreciate the beauty and simplicity of the Flat Tax, and a refusal to cite the work of Hall, Rabushka, and Bradford in the area;

* A failure to describe the work of Ronald Coase properly;

* A sneering denigration of the stock market as a "gambling casino", without mentioning the role of the stock market in disciplining managers, in reallocating risks, and in diffusing ownership of large enterprises;

* A failure to appreciate how problematic the taxation of realized capital gains can be;

* A failure to appreciate the drawbacks of pay-as-you-go public old age pensions;

* A failure to appreciate the merits of vouchers enabling parents to choose among private as well as public schools;

* Finally, an unseemly deference to the Clintonista party line, unseemly in an academic.

The tragedy is that politicians, judges, and the better cut of journalists could use a better text on this subject.