La rationalité économique des choix financiers dans la théorie contemporaine des finances publiques

Abstract

Rationality of choice in contemporary theory of public finance. A general survey of public finance with extensive bibliographies is presented. Economic analysis has influenced both the theory and, to some extent, the practice of public finance and has thus contributed to a greater internal consistency of the subject. The reliability of the principles of economic rationality in the practice of public finance is also examined. The discussion of the limits of the economics of public finance presents the basic conceptual and methodological difficulties met with ; the limited role of welfare economics for the pure theory of public finance, the importance of a political science approach, the problem of the harmonization of fiscal policy and monetary theory, the question of formal and effective incidence of taxation. The effects of financial activities on production incentives are considered in relation to differential taxation. Economic incentives to work, save and invest are related particularly to the distorsions introduced by taxation in the disposition of funds, risk bearing and the enterprise system. Methods for dealing with these defects are considered together with the problem of competition on the capital market between public and private borrowing. Finally, the present state of the theory of budgetary equilibrium and cyclical and inflationary movements , together with the reform of budget techniques, particularly the presentation of the budget, with a view to the integration of the latter into overall government policy, are examined.