NORMATIVE ARGUMENTS FOR FINANCIAL ACTIVITY OF THE PUBLIC AUTHORITIES
The very essence of the paper is to extract the normative reasons for public finance. The principles and foundations of the normative approach to public sector economics are discussed in the first place. Due to the separation of the market failures, the core of government activity is emerged. The taxonomy of the failures in question is the introduction to examine both tax system and public expenditures. Diminishing the external costs and benefits is the guide to the efficiency of fiscal means.
Artur Walasik, Akademia Ekonomiczna im. Karola Adamieckiego w Katowicach, ul. 1Maja 50, 40-287 Katowice, Poland
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