Abstract :
The paper examines the alternative theoretical approaches to the historical formation of modern public finance. The thoughts of certain influential thinkers on the formation of the modern fiscal system are evaluated in the context of theoretical entirety of their approaches. In light of these distinct interpretations, the basic institutions and processes that shaped the fiscal history in the West are examined. Accordingly, the roles of commerce, money, commodity production, primitive accumulation, finance capital, public debt, town, war finance, modern taxation and administrative techniques in the formation of modern fiscal system are analyzed. In the wake of these alternative approaches, this paper comparatively displays the historical institutions and processes required to be taken into consideration within a holistic theoretical framework of the history of public finance.
