From the viewpoint of the new subjectivism, public finance is the study of how various forms of government action effect entrepreneurship. The Calculus of Consent Revisited Walter Block and Thomas DiLorenzo Buchanan and Tullock have a reputation as radical defenders of private property, markets, free enterprise, limited government and libertarianism. While this account is to some degree correct, the present paper shall argue that it is exaggerated. It will show that their supposed adherence to these doctrines and philosophies is at best a moderate, not a radical, one, because of numerous errors with respect to their theories of democracy, ruling class, constitutionalism, contract, voting, methodological individualism, and the relation between government and private enterprise. Slouching Toward the Sublime Adrian T. Moore Efforts to reform government financial management have been a hallmark of the 1990s.
Most efforts are piecemeal, the chief exception being New Zealand.
From a review of some examples of financial management reforms efforts, especially New Zealand's, we can extract a number of valuable lessons learned for future reform efforts. The judgment of taxation by ethical standards requires a universally applicable ethic. Such an ethic, natural moral law, can be derived using the Lockean framework based on equality. By this universal ethic, persons have property rights in their bodies and lives, and thus in their labor. The taxation of wages and of products of labor are therefore morally wrong.