Raising Public Finance

  • Stephen J. Bailey
Chapter

Abstract

Whilst previous chapters considered strategic issues relating to the relative scale and spending of public finance, they provided only limited guidance as to which particular source of public finance should be utilised, reference being made only to taxes and user-charges. The property rights analysis of Chapter 2 made clear the theoretical justifications for both charges (in the form of market prices) and taxes, sole reliance on market prices being justified when property rights are clearly established and fully enforceable. Where they exist but are not fully enforceable, then taxes and prices can complement each other in modifying property rights, for example by taxing activities that create pollution or other environmental costs.

Keywords

Europe Income Marketing Expense Lution 

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Further Reading

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Copyright information

© Stephen J. Bailey 2004

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  • Stephen J. Bailey

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