Social science, administrative science, and entangled political economy
In: GMU Working Paper in Economics No. 22-49
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In: GMU Working Paper in Economics No. 22-49
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In: GMU Working Paper in Economics No. 21-01
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In: GMU Working Paper in Economics No. 21-09
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In: Public choice, Band 186, Heft 1-2, S. 7-8
ISSN: 1573-7101
In: GMU Working Paper in Economics No. 20-37
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In: GMU Working Paper in Economics No. 20-33
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In: GMU Working Paper in Economics No. 20-34
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In: GMU Working Paper in Economics No. 20-18
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In: GMU Working Paper in Economics No. 20-19
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In: GMU Working Paper in Economics No. 20-14
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In: GMU Working Paper in Economics No. 20-11
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In: Constitutional political economy, Band 30, Heft 4, S. 467-479
ISSN: 1572-9966
It has become commonplace to describe publicly provided infrastructure as being in a sorry state and to advance public-private partnership as a possible remedy. This essay adopts a skeptical but not a cynical posture toward those claims. The paper starts by reviewing the comparative properties of markets and politics within a theory of budgeting where the options are construction and maintenance. This analytical point of departure explains how incongruities between political and market action can favor construction over maintenance. In short, political entities can engage in an implicit form of public debt by reducing maintenance spending to support other budgetary items. This implicit form of public debt does not manifest in higher interest rates but rather manifests in crumbling bridges and other infrastructure due to the transfer of maintenance into other budgetary activities.
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In: GMU Working Paper in Economics No. 19-01
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In: GMU Working Paper in Economics No. 19-22, July 2019
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