Principles of Public Finance

by Hugh Dalton

Overview

This latest edition of the renowned textbook presents a significantly enriched and updated exploration of public finance, incorporating substantial new material in light of recent fiscal developments. The book offers a comprehensive survey of the general theory of taxation, various forms of public revenue, patterns of public expenditure, and the complexities surrounding public debt. These core topics have been thoroughly revised to reflect contemporary economic challenges and policy approaches.

A notable addition to this edition is a detailed chapter devoted to modern theories of budgetary policy, with particular emphasis on the contributions made by John Maynard Keynes and other influential economists. This section explores the evolution of fiscal thinking, especially the shift towards using government budgets as tools for economic stabilization and growth. The chapter aims to provide students and practitioners with a clear understanding of how these theoretical frameworks have influenced real-world policy-making.

The final chapter is a unique and personal reflection by the author, drawing upon his experience serving at the British Treasury during the critical post-World War II period from 1945 to 1947. In this section, the author discusses the economic challenges faced during his tenure, outlines the rationale behind the policies implemented across four successive budgets, and offers insights into the controversial "cheap money" policy that sparked considerable debate at the time.

Product Details

ISBN-13:	9788170231332
Publisher:	Allied Publishers Pvt. Ltd.
Publication date:	05/27/2025
Pages:	272
Product dimensions:	5.00(w) x 7.00(h) x 0.57(d)

Table of Contents

PART ONE 1. The Nature of Public Finance and the Main Division of the Subject 2. The Principle of Maximum Social Advantage 3. Public Finance and Private Finance PART TWO 4. Sources of Public Income 5. Taxation and Some Distinctions Between Taxes 6. Some Characteristics of a Good Tax System 7. Incidence of Taxation 8. Incidence of Taxation (Continued) 9. Distribution of the Burden of Taxation from the Point of View of Equity 10. Effects of Taxation on Production 11. Effects of Taxation on Distribution 12. Some other Effects of Taxation 13. The Tax System from the Point of View of Economy 14. Income from Public Property and Public Enterprises 15. Income from the Public Printing Press PART THREE 16. Objects and Classification of Public Expenditure 17. Grants and Purchase Prices 18. Effects of Public Expenditure on Production 19. Effects of Public Expenditure on Distribution 20. Some Other Effects of Public Expenditure PART FOUR 21. General Characteristics of Public Debts 22. Burden of Public Debts 23. Repayment of Public Debts 24. Rate of Interest on Public Debts 25. Inter-Governmental Debts PART FIVE 26. Balancing the Budget 27. The Budget Balancing the Whole 28. At the British Treasury