scholarly journals Constitutions, Corporations, and Corruption: American States and Constitutional Change, 1842 to 1852

2005 ◽  
Vol 65 (1) ◽  
pp. 211-256 ◽  
Author(s):  
John Joseph Wallis
Keyword(s):  
Public Finance ◽  
Property Tax ◽  
Government Debt ◽  
Fiscal Crisis ◽  
Constitutional Change ◽  
American States ◽  
The Future ◽  
Infrastructure Investments

Between 1842 and 1852, eleven states adopted new constitutions, simultaneously creating procedures for issuing government debt and for chartering corporations through general incorporation acts. Why simultaneously? Voters wanted geographically specific infrastructure investments but opposed geographically widespread taxation. States resolved the dilemma by developing several innovative public finance schemes. One, “taxless finance,” used borrowed funds and special corporate privileges without raising current taxes. Another scheme, “benefit taxation,” coordinated the incidence of taxes with the geographic benefits of investments through the property tax. After the fiscal crisis of the early 1840s, states changed their constitutions to eliminate taxless finance in the future.

Conclusion: Legal and Constitutional Legacies

2018 ◽  
Author(s):  
William E. Nelson
Keyword(s):  
American Revolution ◽  
Constitutional Change ◽  
War Of Independence ◽  
Military Life ◽  
American States ◽  
Historical Literature ◽  
British Military ◽  
Reign Of Terror ◽  
Property Destruction ◽  
The Revolution

The conclusion makes two arguments. First, it takes the position common in the historical literature that the American Revolution was a comparatively placid one, with few killings of civilians, little property destruction, and no reign of terror. It argues that the placidity was a consequence of legal continuity—the same courts, judges, and juries that had governed the colonies in 1770 in large part continued to govern the new American states in 1780. During the course of the War of Independence itself, legal and constitutional change occurred almost entirely at the top, and, except in the few places occupied by the British military, life went on largely as it always had. The conclusion also argues that old ideas of unwritten constitutionalism persisted during and after the Revolution, but that a new idea that constitutions should be written to avoid ambiguity emerged beside the old ideas.

COMMENTARIES ABOUT THE FUTURE OF THE PROPERTY TAX

1937 ◽  
Vol 22 (7) ◽  
pp. 215-217
Author(s):  
PAUL H. WUELLER'S ◽  
PHILIP NICHOLS
Keyword(s):  
Property Tax ◽  
The Future

THE FUTURE OF THE PROPERTY TAX

1936 ◽  
Vol 21 (6) ◽  
pp. 162-163
Author(s):  
PHILIP NICHOLS
Keyword(s):  
Property Tax ◽  
The Future

The Future of the American States

1936 ◽  
Vol 30 (1) ◽  
pp. 24-50 ◽  
Author(s):  
W. Brooke Graves
Keyword(s):  
State Government ◽  
Central Government ◽  
University Of Pennsylvania ◽  
Federal System ◽  
State Governments ◽  
Columbia University ◽  
American States ◽  
The People ◽  
The Future ◽  
The University

In any consideration of the future of the states, it is desirable at the outset to recall the circumstances of their development and of their entry into the Union. When the present Constitution was framed and adopted, the states were more than a century and a half old. At that time, and for many years thereafter, it was the states to which the people gave their primary allegiance. Under the Articles of Confederation, the strength of the states was so great that the central government was unable to function; when the Constitution was framed, the people were still greatly concerned about “states' rights.” This priority of the states in the federal system continued through the nineteenth century, down to the period of the Civil War; in the closing decades of that century, state government sank into the depths in an orgy of graft and corruption and inefficiency, which resulted in a wave of state constitutional restrictions, particularly upon legislative powers.At this time, when the prestige and efficiency of the state governments were at their lowest ebb, there began to appear ringing indictments of the whole state system. Most conspicuous of these were the well known writings of Professors John W. Burgess, of Columbia University, and Simon N. Patten, of the University of Pennsylvania.

scholarly journals Debt finance as a public phenomenon: conceptual basics and prospects of democratization

2019 ◽  
pp. 35-50
Author(s):  
Olha Kyrylenko ◽  
Andrii Derlytsia
Keyword(s):  
Public Finance ◽  
Public Debt ◽  
Institutional Environment ◽  
Government Debt ◽  
Debt Management ◽  
Budget Process ◽  
Budget Deficits ◽  
The Public ◽  
Debt Finance ◽  
The Individual

Introduction. Issues of budget deficits, public credit and debt form the sphere of debt finance – a model established in a particular country for ensuring the balance of the budget, the organization of government borrowings, the system of public debt management in order to influence the development of the economy and the functioning of public finance. Methods. The methods of abstraction, comparison, institutional analysis and idealization have been used. Results. The study draws attention to the microeconomic fundamentals of debt finance, considering them through the prism of the individual interests. It has been found out that the developed Western countries are characterized by the public nature of debt finances as a result of the evolutionary democratization of public debt – the accessibility of government debt operations to the general public. It is revealed that due to a number of institutional restrictions, the democratization of this sphere in Ukraine has not been fully implemented yet. It is proved that the public debt manifests the same power as pure public goods: the indivisibility in consumption and the impossibility to exclude from the debt burden, which enable its study as public bads. The key features that determine the social nature of debt finance in developed democratic countries are revealed. It is proved that the determinants of debt finance are both economic and political and institutional imbalances, not only in the area of public finance, but also at the level of economic entities. The key components of the institutional environment of the functioning of debt finance are considered: political decision- making mechanisms, procedures of the budget process, the institutional organization of the financial market. It is argued that one of the key shortcomings of the domestic practice of servicing domestic public debt is the insignificant share of debt owned by citizens. Conclusions. The disadvantages and obstacles of democratization of the model of borrowing in Ukraine are studied in the paper. A promising mechanism of financial inclusion of the population in transactions with government debt is proposed.

Jack L. Walker, “The Diffusion of Innovations among the American States”

2016 ◽  
Author(s):  
David Levi-Faur
Keyword(s):  
Decision Making ◽  
Political Science ◽  
Diffusion Of Innovations ◽  
Diffusion Study ◽  
American States ◽  
The Future ◽  
Research Questions

This chapter focuses on Jack L. Walker’s 1969 paper “The Diffusion of Innovations among the American States,” which analyzes the phenomenon of diffusion as well as interdependent decision-making in a collective setting. The chapter summarizes Walker’s arguments and the reception of his work in, and its influence on, the field of political science. It then considers the research questions posed, such as why some states act as pioneers by adopting new programs more readily than others, and whether there are more or less stable patterns of diffusion of innovations. It also revisits Walker’s debate with Virginia Gray with regards to the latter’s seminal study “Innovation in the States: A Diffusion Study.” The chapter offers some suggestions on the future progress of diffusion scholarship and its potential to redefine our understanding of politics and policy.

Do We Still Need Regional Development Banks Today (and Tomorrow)?

2021 ◽  
pp. 311-333
Author(s):  
José Antonio Alonso ◽  
José Cuesta
Keyword(s):  
Regional Development ◽  
Future Development ◽  
Developing World ◽  
Pivotal Role ◽  
Sustainable Infrastructure ◽  
The Future ◽  
Development Banks ◽  
Infrastructure Investments ◽  
Regional Development Banks

The need for regional development banks (RDB) is a straightforward question that does not have a straightforward answer. The authors assess the arguments claiming that RDB are called to play a substantive role—in fact an increasingly substantive role—in future development. They summarize these arguments in the following hypothesis: if RDB did not exist, we should re-invent them. This hypothesis is assessed against a critical developmental challenge affecting today’s world and most likely to remain in the future: the massive mobilization of resources required for financing of huge gaps in sustainable infrastructure investments that exist in the developing world. This exercise is followed by a discussion on what conditions need be in place for RDB to be truly playing a pivotal role in confronting such challenge—and perhaps others—in the future.

In the shadow of constructed borderlands

2020 ◽  
Author(s):  
Susann Handke
Keyword(s):  
European Union ◽  
Market Integration ◽  
Economic Governance ◽  
The European Union ◽  
European Economic ◽  
Current Trends ◽  
One Belt One Road ◽  
The Future ◽  
Infrastructure Investments ◽  
Institutional Ambiguity

In Europe, China’s One Belt One Road (OBOR) initiative primarily interacts with the institutional and physical landscape of the ‘shared neighbourhood’ between Russia and the European Union (EU). Norms and institutions in these ‘borderland’ states reflect an institutional ambiguity between the Eurasian and EU brands of market integration. In this chapter, the structures of economic governance in this region and their interaction with OBOR are examined from institutional and infrastructural perspectives. It is argued that OBOR is incompatible with current trends of European economic governance. In Ukraine and the 16+1 states, the interplay between Chinese state-controlled entities and oligarchic elites deconstructs formal norms and institutions and reinforces informal structures. Instability in the borderlands increases, while infrastructure investments extend the shadowy character of OBOR-induced practices into the future.

The Economic Context for Reforming the Safety Net

2019 ◽  
Vol 686 (1) ◽  
pp. 352-368
Author(s):  
Karen Dynan
Keyword(s):  
Income Inequality ◽  
Social Insurance ◽  
Government Debt ◽  
Safety Net ◽  
Economic Context ◽  
Financial Conditions ◽  
The Future ◽  
Macroeconomic Growth

As we wrestle with the future of our safety net and social insurance programs, it is important to understand not only the features and outcomes associated with individual programs but also the broader economic context. This reflection piece discusses several relevant aspects of the macroeconomy and of economic and financial conditions facing households: rising government debt, slower macroeconomic growth, limited tools to fight future recessions, greater income inequality, and the financial struggles of households. It goes on to draw lessons for how we should reform our system of entitlement programs.

Sign in / Sign up

Export Citation Format

Share Document