The Fundamental Principles of a Pure Theory of Public Finance
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The pure science of public finance needs more than a theory of production and a theory of public wants.1 It needs also a theory of public enterprise, this latter theory being simply a particular aspect of the general theory of marginal productivity. In this way due account can be taken not only of the demand for public goods and services, but also of their supply, and an attempt can be made to find the conditions of equilibrium between demand and supply.
KeywordsCollective Action Coercive Force Marginal Productivity Political Organization Entire Community
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