Manufacturer: W. W. Norton & Company Availability: Usually ships in 24 hours List Price:$157.65 Our Price:$142.00 Authors: Joseph E. Stiglitz Description:

* 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.


Comments
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



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