This longtime favorite of professors and students is now fully revised to reflect the latest developments in public policy and economic research. THis revision brings together the talents and insights of Nobel Prize - winning ecnomomist Joseph Stiglitz and new co-author Jay Resengard to reflect the reality of government policy today. Their work with international governments is reflected throughout the book to provide students with a global perspective of public policy.

No other text is as modern and accessible, or incorporates as much first-hand policy experience. This Fourth Edition has a stronger international focus, including coverage of global public goods and corporatization, and retains the text's classic strengths: an integrated approach to public economics, readable and inviting style, and careful attention to real-world problems and applications.