The transition economies of Central and Eastern Europe, through the reform process of decentralization, are now seeking the devolution of fiscal powers, and responsibilities from central, to local governments, within financially sustainable environments. To this end, a system of local budgets,...

The transition economies of Central and Eastern Europe, through the reform process of decentralization, are now seeking the devolution of fiscal powers, and responsibilities from central, to local governments, within financially sustainable environments. To this end, a system of local budgets,...

Tax increment financing (TIF) is currently the most important fiscal instrument for local development initiatives in this country. In theory, a TIF project requires no new taxes, and pays for itself by expanding the value of the tax base. However, many state TIF programs have the potential to...

A challenging question in moral philosophy is how to gauge the achievement of equity between individuals when people differ in their preferences, and in particular where some people might have “expensive tastes”, in that the goods necessary to bring them to a certain level of welfare are...

This paper examines the rationales for public funding for the arts that arise out of economic models of markets, and market failure, specifically public goods and positive externalities. At the heart of the economic method is a reliance on consumer sovereignty: that individuals are the best...