Public Investment, the Rate of Return, and Optimal Fiscal Policy

1st Edition

Kenneth J. Arrow, Mordecai Kruz

RFF Press
Published January 19, 2011
Reference - 253 Pages
ISBN 9781617260308 - CAT# Y123887
Series: RFF Environmental and Resource Economics Set

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Summary

This book, co-authored by the Nobel-prized economist, Kenneth Arrow, considers public expenditures in the context of modern growth theory. It analyzes optimal growth with public capital. A theory of 'controllability' is developed and injected into public economics and growth models. Originally published in 1970

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