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

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. First Published in 2011. Routledge is an imprint of Taylor & Francis, an informa company.