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1 1 (1980)

handle is hein.amenin/aeiaasr0001 and id is 1 raw text is: The Constitution and the Budget, edited by W. S. Moore and Rudolph G. Penner, presents the edited proceedings of a conference sponsored jointly by the Tax Policy Studies and the Legal Policy Studies programs at the American Enterprise Institute. The conference participants- including experts from government, academia, and private groups- address the question, Are constitutional limits on tax, spending, and budget powers desirable at the federal level? * In part one the ramifications of using a convention to propose constitutional amendments are considered. The consensus is that a con- vention probably could not be limited in advance and that it is a device to employ only with great care and as a last resort. * Part two deals with the impact of constitutional constraints on eco- nomic policy making. Would constraints do more harm than good by imposing severe rigidities on decision processes, or are rigidities nec- essary to curb irresponsibility? * Part three uses the theory of public choice to analyze the desirability of constitutional constraints. According to this theory, the results of ordinary majority voting are often irrational. The participants disagree whether constitutional limitations on spending or taxes would reduce or increase the likelihood of rational outcomes. * Part four enlarges upon the political realities of instituting and main- taining budget limitations, including the use of technical procedures to defeat limits in practice, and the difficulty of accurately measuring ex- penditures. Supporters of budget limits argue for this severe technique to reverse the psychology of unbalanced budgets. H 0 0 0 0 a a ISBN 0-8447-2179-4 clothbound edition ISBN 0-8447-2180-8 paperback edition US $12.00 ISBN-13: 78-0-6997-2180-4 ISBN-10: 0-8447-2180-8 5 1200 9 780844 721804 American Enterprise Institute for Public Policy Research 1150 Seventeenth Street, N.W., Washington, D.C. 20036 A ( ottf cretu ~ A or~ d by the ,RfVertl The Constitution and the Budget Are Constitutional Limits on Tax, Spending, and Budget Powers Desirable at the Federal Level? Edited by W. S. Moore and Rudolph G. Penner

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