Public Finance and the Political Process

Holcombe presents theoretical models, melds theory and empirical work, and jux taposes economics and political science. Fur ther, he provides insights into such concepts as agenda control, points out the advantages of incumbency, explains government as a natural monopoly, establishes an updating of the social contract, and examines the virtues of common law in contrast to statutory law. In his final chapters, Holcombe provides a foundation upon which the preceding chap ters are logically built. From his analysis, itappears that there is an approximate corre spondence between voter preferences and political outcomes, as depicted by a median voter model, but that for many reasons re source allocation through the public sector is considerably less efficient than through the private sector.Holcombe, Randall G. is the author of 'Public Finance and the Political Process' with ISBN 9780809310821 and ISBN 0809310821.