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Vito Tanzi offers a truly comprehensive treatment available of the economic role of the state in the twentieth and twenty-first centuries from a historical and world perspective. The book addresses the fundamental question of what governments should do, or have attempted to do, in economic activities in past and recent periods. It also speculates on what they are likely or may be forced to do in future years. Although other recent titles in economics deal with normative theories, public choice theories, welfare state analysis, social protection, and the like, no other book has the same breadth or depth specifically on the state's viable economic role. The author occupies a unique position in global public finance, having served for nearly three decades as a leading fiscal administrator for the International Monetary Fund, financial adviser to 80 countries, and active economic theorist. The investigation assembles a large set of statistical information that should prove useful to policy-makers and scholars in the perennial discussion of government's optimal economic roles. It will become an essential reference work on the analytical borders between the market and the state, and on what a reasonable "exit strategy" from the current fiscal crises should be.

“Vito Tanzi is one of the very top leading experts on fiscal policy and public policy, and this a must-read for anyone interested in how governments work in reality and how they should work in an ideal world.” – Alberto Alesina, Harvard University

"This highly accessible book is the summa of Vito Tanzi’s unique experience as an academic, senior international official, and policy maker. Everyone will find this book informative and thought-provoking. As an EU policy maker and public finance practitioner, I found it highly challenging and very useful." – Marco Buti, European Commission

“Economists have a one-sided impression of Vito Tanzi: a rigorous fiscal economist, a sophisticated analyst. Now from the book we enjoy the other side of his character: a witty man with a warm sense of humor, an open-eyed observer, and a well-articulated writer.” - János Kornai, Harvard University and Collegium Budapest, Hungary

“Any scholar interested in public economics and in the study of the role of government and any policy maker concerned with public policies will learn a great deal from this excellent book.” – Paola Profeta, Bocconi University Milan, Italy

“An outstanding analysis and a modern vision by a distinguished scholar about the new role of government in the present economic situation. It shows how markets may be made to work efficiently, avoiding financial and economic crisis, while providing economic recovery and stable economic growth.” – Franco Reviglio, University of Turin, Italy

“In this book, Vito Tanzi marshals his vast reservoir of experience in fiscal matters and deep familiarity with modern economic thinking to produce a magisterial treatment of the economic role of the state – past, present, and future. It is packed with insights that will reward both the casual student of public policy and the wizened veteran of the academic and political battles over tax and expenditure policy. Be prepared for conclusions that will startle, such as Tanzi’s view that the growing complexity of state interventions may be the gravest threat to the market economy and democracy.” – Joel Slemrod, University of Michigan

"Mr. Tanzi is one of the world’s most highly regarded economists, and for good reason." - Richard W. Rahn, The Cato Institute; The Institute for Global Economic Growth; Newsmax.com

"If every member of Congress and Washington policymaker[s] would read the [book] by Mr. Tanzi...and act upon their recommendations, our fiscal and entitlement mess would soon be part of a dark past." – The Washington Times

Vito Tanzi

Vito Tanzi is an economist of international renown. He has had a distinguished career at the International Monetary Fund, where he has served for almost three decades. At the Endowment, he is examining the changing role of the state in globalization and the role of international financial institutions.

Mr. Tanzi has served as director of the fiscal affairs department at the IMF since 1981. In that post, he has worked with fiscal authorities worldwide on issues ranging from tax policy to corruption and money laundering. He started at the IMF in 1974 as chief of the tax policy division. From 1990 to 1994, he also served as president of the International Institute of Public Finance.

Before joining the IMF, Mr. Tanzi was professor and chairman of the department of economics at American University. He has also been on the faculty of the George Washington University and a consultant for the World Bank, the United Nations, the Organization of American States, and the Stanford Research Institute. Mr. Tanzi received his Ph.D. in economics from Harvard University and has received honorary degrees from the National University of Córdoba (Argentina) and the University of Liège (Belgium).

He is a prolific writer and has published widely on fiscal policy and other economic issues in books and journals. He is known for his research on Latin American economies and the so-called Tanzi effect, whereby real tax proceeds are eroded during periods of high inflation. His most recent publications include Public Spending in the 20th Century: A Global Perspective; Policies, Institutions, and the Dark Side of Economics; and Taxation in an Integrating World.