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The significance of federalism in public finance has for the most part been overlooked, even by American writers. It is the thesis of this volume that American federalism has fiscal problems for which outright centralization is no cure. States’ rights properly defined have a genuine meaning and only by cool consideration of them can our governmental machinery be arranged to cope with the job that lies ahead.
James Maxwell’s historical survey crystallizes the research done by a number of experts and presents much new material. His book brings out the difficulties faced by a modern federalism in achieving a coherent fiscal system, analyzes the fiscal problems now facing federalism in the United States, and suggests remedies for these perplexities. It will be of interest to everyone concerned with the problems of public finance, to students of government, to journalists, and to economists.