The Public Economy: Elements of a New Theory

June A. Sekera ()
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June A. Sekera: Tufts University

Chapter Chapter 5 in The Public Economy in Crisis, 2016, pp 49-80 from Springer

Abstract: Abstract Crucially absent from current economic thinking and from current principles of public management is an understanding of the forces and dynamics of nonmarket production in the public economy. Imposing market axioms and precepts on the public non-market is not merely ineffective; it is too often disastrous, as I detailed in previous chapters. In order to revitalize the practice of public administration, we need a new conceptual framework: a model of the public nonmarket economy. In this chapter I outline basic elements of the public nonmarket economy. I present a conceptual model of the forces and dynamics of production within its distinctive environment. I explain how these characteristics differ from the market model and why those differences matter.

Keywords: Public Good; Public Choice; Market Model; Public Economy; Collective Choice (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-319-40487-5_5

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DOI: 10.1007/978-3-319-40487-5_5

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