BUDGETING FOR PUBLIC CAPITAL

Reinterpreting Traditional Views of Urban Infrastructure Provision

ABSTRACT: City governments provide much of the economic and social capital comprising urban infrastructure. A prevailing idea is that public managers should and can budget rationally and systematically for the provision of infrastructure. This view frequently neglects consideration of the reactive, ad hoc nature of infrastructure investment in cities. Common approaches to the notion of rational capital budgeting are discussed and a reinterpretation of how city governments supply infrastructure is presented.