Economics of the Public Sector *US PAPERBACK* 4th Ed. by Joseph Stiglitz, Jay Rosengard - {9780393925227}

Unveiling the Complexities of Government Intervention: A Guide to Public Sector Economics (4th Edition)

Delving into the critical role of government in a modern economy.

The long-awaited revision of the classic text, "Economics of the Public Sector", offers a comprehensive and accessible exploration of the key issues surrounding government intervention in the modern world. Authored by Nobel laureate Joseph E. Stiglitz and co-author Jay K. Rosengard, this fourth edition builds upon their extensive experience in policy advising to equip students, policymakers, and the general public with a deeper understanding of the public sector's crucial role in contemporary society.

Geared Towards:

• Economics students: Establish a solid foundation in public sector economics and its application to contemporary issues.
• Policymakers: Develop informed and evidence-based policies aimed at promoting economic efficiency and societal well-being.
• Individuals interested in public policy: Explore the economic rationale behind government intervention and its impact across various sectors.

Key Focus Areas:

• The Evolving Role of Government: Uncover the economic justifications for government involvement, including addressing market failures, externalities, and the provision of public goods.
• Crafting and Analyzing Policies: Delve into the economic tools and frameworks used to analyze and evaluate the effectiveness of public policies.
• Addressing Contemporary Challenges: Examine critical issues facing the public sector today, such as climate change, income inequality, and the complexities of globalization.
• Understanding Global Public Goods: Grasp the challenges and opportunities surrounding the provision of public goods and services with global implications.

Content Highlights:

• Market Failures and Public Intervention: Explore various market failures such as externalities, public goods, and imperfect competition, and understand the economic rationale for government involvement to address these issues.
• Taxation and Public Finance: Unpack the principles of taxation, including efficiency, equity, and administrative feasibility, and analyze various tax systems.
• Cost-Benefit Analysis: Master the framework for evaluating the economic benefits and costs of potential government interventions to ensure optimal decision-making.
• Public Choice Theory: Explore the potential influence of special interests and political considerations on government policies and how this can impact their effectiveness.

Key Takeaways:

• Gain a comprehensive understanding of the economic rationale for government intervention in various spheres.
• Develop skills for analyzing and evaluating the effectiveness of public policies.
• Explore the economic challenges and opportunities facing the public sector in the contemporary world.
• Appreciate the complexities and considerations involved in providing public goods on a global scale.

Strengths:

• Comprehensive and up-to-date: Offers a thorough exploration of fundamental concepts and contemporary issues relevant to the public sector.
• Nobel Laureate's Perspective: Provides valuable insights and analysis from Joseph E. Stiglitz, a renowned economist.
• Focus on Policy Analysis: Equips readers with the tools to critically evaluate the effectiveness of government interventions.
• Global Perspective: Incorporates discussions on global public goods and their economic implications.