The Voluntary Exchange Theory of Public Economy

Abstract

I. The voluntary exchange theory: exposition, 214 — II. Discussion: (1) the underlying assumptions, 218; (2) the nature of the pricing process implied, 221; (3) the voluntary exchange theory as a solution to the problem of justice in taxation, 226; (4) the neutrality condition as criterion for the conduct of the revenue-expenditure process, 228; summary of objections, 231 — III. The planning interpretation of public economy as an alternative approach, 232. — The planning decisions, 232. — The social value scale predetermined, 233. — The analysis of direct and indirect effects, 234.