In the authors' political equilibrium model, regulation is considered an implicit and regressive tax-equivalent alternative to the common and less regressive fiscal alternatives: income, property, and sales taxes. The authors hypothesize that in more heterogeneous jurisdictions the state relies...

James M. Buchanan’s contributions to public finance and political economy are surveyed in six areas: (1) debt, fiscal illusion, and Keynesian criticisms; (2) London School of Economics cost approach; (3) methodological individualism and the economics of politics; (4) welfare price theory;...

This article investigates the effect of income on the price elasticity of demand Abstract for public goods. While this elasticity is normally treated as identical for different income groups, the findings of this article show that such a view is incorrect, and that price elasticity is...