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A Synopsis of General Characteristics of National Fiscal Doctrines

In: The National Element in the Development of Fiscal Theory

Author

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  • Orhan Kayaalp

    (The City University of New York)

Abstract

This section briefly presents the essential characteristics of national bodies of fiscal thought according to the following plan. Each section opens with a list of the names of the most important representatives and a brief description of the general characteristics of the given national school of fiscal thought. This is ensued by a five-part analysis. The first concerns each theory’s treatment of the two sides of the fiscal account. Some theories simultaneously determine both the tax and the expenditure side of the budget while some others determine one side independently of the other. Again, in some national schools of fiscal thought both sides comply with the principle of equimarginality while in some others marginal valuation is reserved only for the tax side. The second analysis concerns the treatment of the problem of economic efficiency. How is the efficient level of output thought to be attained in each theory in face of conflicting individual demands of public goods? How, in each theory, are the votes of individuals translated into the demand for public sector output? The next area of analysis, concerning the handling of the problem of coercion, is closely linked to the preceding one; namely, considering that the majority rule is adopted as the basis of collective choice, what protects the minority in whose valuation the public good appears unproductive?

Suggested Citation

  • Orhan Kayaalp, 2004. "A Synopsis of General Characteristics of National Fiscal Doctrines," Palgrave Macmillan Books, in: The National Element in the Development of Fiscal Theory, pages 138-147, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-3897-8_9
    DOI: 10.1057/9781403938978_9
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