{"product_id":"the-demand-and-supply-of-public-goods-9780865972216","title":"The Demand and Supply of Public Goods","description":"\u003cp\u003e • Author(s): James M. Buchanan\u003cbr\u003e • Publisher: Liberty Fund\u003cbr\u003e • Publisher Imprint: Liberty Fund\u003cbr\u003e • BISAC: Public Finance\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003ePublic-goods theory constituted a major element in James M. Buchanan's research agenda throughout the 1960s. \u003cstrong\u003e\u003cem\u003eThe Demand and Supply of Public Goods\u003c\/em\u003e\u003c\/strong\u003e is a major part of that work.\u003c\/p\u003e \u003cp\u003eAt the time that Buchanan was elaborating on his theories of public goods, the prevailing trend in public economics was the emergence of public-expenditure theory, which attempted to form a comprehensive theory of the state around the notion of market failure.\u003c\/p\u003e \u003cp\u003e\u003cem\u003eThe Demand and Supply of Public Goods\u003c\/em\u003e established Buchanan's broad purpose of explicitly comparing market performance with political performance. As such, the book is an important part of Buchanan's contractarian theory of the \"productive state.\"\u003c\/p\u003e \u003cp\u003eConceived originally as a series of lectures given at Cambridge University in 1961 and 1962, \u003cem\u003eThe Demand and Supply of Public Goods\u003c\/em\u003e is written for students, but is in no way a textbook of dry pedagogy. Instead, as Geoffrey Brennan writes in the foreword, \"What Buchanan provides here is a clear statement of the contractarian approach to public goods problems, very much in the 'voluntary exchange' tradition of Wicksell and Lindhal.\"\u003c\/p\u003e \u003cp\u003e\u003cstrong\u003eJames M. Buchanan\u003c\/strong\u003e (1919-2013) was an eminent economist who won the Alfred Nobel Memorial Prize in Economic Sciences in 1986 and was considered one of the greatest scholars of liberty in the twentieth century.\u003c\/p\u003e","brand":"Liberty Fund","offers":[{"title":"Hardcover","offer_id":45298799509655,"sku":"9780865972216","price":2133.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9780865972216.webp?v=1769284650","url":"https:\/\/atlanticbooks.com\/products\/the-demand-and-supply-of-public-goods-9780865972216","provider":"Atlantic Books","version":"1.0","type":"link"}