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Tax Prices in a Democratic Polity: The Continuing Relevance of Antonio de Viti de Marco

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  • Giuseppe Eusepi
  • Richard E. Wagner

Abstract

While Antonio de Viti de Marco was a significant figure within the Italian school of public finance that flourished between 1880 and 1940, his theoretical framework also has relevance today. Contemporary theory largely adopts a sequential framework where states act to modify previously established market outcomes. In contrast, de Viti worked with a framework where political and market outcomes were established simultaneously because he regarded the state as an essential productive factor within society. At the same time, however, de Viti did not treat state activity as a particular form of market activity. While he extended the logic of market exchange to state activity, he recognized the need to theorize in light of significant differences in institutional arrangements between markets and states. Collective action was guided by tax prices and not market prices. De Viti’s formulation of tax prices demonstrates in turn the important place of constitutional arrangements in his theory of public finance.

Suggested Citation

  • Giuseppe Eusepi & Richard E. Wagner, 2013. "Tax Prices in a Democratic Polity: The Continuing Relevance of Antonio de Viti de Marco," History of Political Economy, Duke University Press, vol. 45(1), pages 99-121, Spring.
    • Handle: RePEc:hop:hopeec:v:45:y:2013:i:1:p:99-121
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    Citations

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    Cited by:

    1. Giuseppe Eusepi, 2020. "From subjectivism to constitutionalism: the intellectual journey of James M. Buchanan through his Italian heroes," Public Choice, Springer, vol. 183(3), pages 273-285, June.
    2. Giuseppe Eusepi & Richard Wagner, 2012. "Indebted state versus intermediary state: who owes what to whom?," Constitutional Political Economy, Springer, vol. 23(3), pages 199-212, September.
    3. Fossati, Amedeo, 2022. "Of Public Choice and Antonio De Viti de Marco," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 75(4), pages 519-544.
    4. Alexander William Salter, 2016. "Political Property Rights and Governance Outcomes: A Theory of the Corporate Polity," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 31(Winter 20), pages 1-20.
    5. Richard E. Wagner, 2012. "Deficits, Debt, and Democracy," Books, Edward Elgar Publishing, number 14477.
    6. Manuela Mosca, 2016. "Antonio de Viti de Marco as a Political Commentator in the Daily Press," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2016(1), pages 43-63.
    7. Luca Tedesco & Roberto Ricciuti, 2023. "“Monopolistic” vs. “Cooperative” State in the Institutional and Economic Modelling of Antonio De Viti De Marco," Working Papers 07/2023, University of Verona, Department of Economics.
    8. Richard E. Wagner, 2019. "American Democracy and the Problem of Fiscal Deficits," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 15(2), pages 199-216, December.
    9. Amedeo Fossati & Marcello Montefiori, 2016. "Antonio De Viti de Marco, political competition, and the principle of minimum means," Working papers 49, Società Italiana di Economia Pubblica.
    10. Manuela Mosca, 2021. "The decades of silence Antonio de Viti de Marco from 1923 to 1943," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 10(1), pages 31-61.
    11. Michele G. Giuranno & Manuela Mosca, 2018. "Political realism and models of the state: Antonio de Viti de Marco and the origins of public choice," Public Choice, Springer, vol. 175(3), pages 325-345, June.
    12. Mosca, Manuela, 2013. "The daily battles of Antonio de Viti de Marco," MPRA Paper 47963, University Library of Munich, Germany.
    13. Richard Wagner, 2013. "What kind of state in our future? Fact and Conjecture in Vito Tanzi’s Government versus Markets," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(1), pages 93-104, March.
    14. Richard Wagner, 2014. "James Buchanan’s public debt theory: a rational reconstruction," Constitutional Political Economy, Springer, vol. 25(3), pages 253-264, September.
    15. Furton Glenn L. & Salter Alexander William, 2017. "Private Governance and the Pricing of Political Enterprises," Journal of Business Valuation and Economic Loss Analysis, De Gruyter, vol. 12(s1), pages 1-9, July.
    16. Amedeo Fossati, 2016. "The First Principles of Public Finance by Antonio de Viti de Marco: Is There Any Disparity between the Assessments of the Italian and the English Speaking Scholars?," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2016(118-119-1), pages 88-110.

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