This standard textbook offers a comprehensive and understandable presentation of public sector economics. The new edition has been thoroughly revised and updated so as to consider the latest developments in theory as well as changes in institutions and global economic frameworks.

Since 1920, the thrust of German law on workplace codetermination has changed on a number of occasions. We describe the latest swing of the legislative pendium - favoring works council formation and competence - and evaluate the case for it. We provide new information on the extent of works...