Frontmatter -- Contents -- Acknowledgements -- 1. Introduction -- Part I: Theory -- 2. Consumption: The Welfare of the Representative Consumer -- 3. Consumption: The Welfare of the Community -- 4. Consumption: The Productive Capacity of the Economy -- 5. Investment -- 6. Depreciation -- 7....

Written over a span of 30 years, the essays in these volumes make significant contributions to the study of national accounting, demand theory, capital theory, public finance, the Canadian constitution, the subsidization of investment, equity and predatory behaviour.

Public provision of private goods is usually modeled as the displacement of a market where people can buy as much or as little of a good as they please, with tax-financed provision by the government of equal and identical amounts of the good per person. But public provision is not always equal...

This article is a proof and critique of the theorem in its title. The marginal cost of public funds is the relative price of dollars in the hands of the government, with dollars in the hands of the public as the numeraire. It is the appropriate mark-up of benefit over cost for public sector...

Education conveys a civic externality, a benefit to society over and above the benefit to the student in enhancing his future earning power. Students are taught not only to be productive but to be law abiding and loyal to their country. The civic externality is incorporated into an 'anarchy'...