Customer Reviews

Economics of the Public Sector

5 star:		(1)
4 star:		(1)
3 star:		(2)
2 star:		(1)
1 star:		(0)

 

 

Although I deeply respect J. Stiglitz, I prefer H. Rosen`s Public Finance. I found it more effective to learn this subject due to the deeper treatment of the models and theories.
The only aspect I would recommend it for is because it has Stiglitz wider view of the global tendencies intrinsically in some ways.

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

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.

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.

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