Budget theory and budget practice: How good the fit?

This article describes the past and present and projects the future of the relationship between theory and practice for both normative and descriptive budget theory. It argues that budgeters have underestimated the successes. The present and future of normative theory look gloomy without major fresh ideas because the world of budgeting has changed and many traditional reform ideas have out-lived their usefulness. Descriptive theory has traditionally been weaker, but it has improved in recent years and will probably do well in the near future.