Territorial political organisation forms the backbone of western liberal democracies. However, political economists are increasingly aware of how this form of government neglects the preferences of citizens, resulting in dramatic conflicts. The Political Economy of Non-Territorial Exit explores the theoretical possibility of ‘unbundling’ government functions and decentralising territorial governance.
The Political Economy of Aerospace Industries will appeal to undergraduate and graduate students in industrial and defence economics, public choice and policy courses. It will also be of interest to researchers, policy-makers and those involved in the industry in various different capacities.
Adam Smith is widely regarded as the ‘founder of modern economics’. The author shows, however, that Smith’s procedurally based, consequence-detached political economy, an approach shared by America’s Founders, finds no expression in the economist’s utilitarian, procedurally-detached theory of the state. This ‘wrong turn’ has meant that, if economists are ill-equipped to address an expanding federal enterprise in which utilitarian considerations trump the Smithian/Madisonian idea that means and ends must be morally and constitutionally constrained, they are also ineffectual bystanders as growing institutional skepticism, demands for ‘social justice’ and metastasizing rights claims threaten our self-governing republic.
In this insightful book, Patrick McNutt explores the meaning of law within a political environment, and advances many new ideas and concepts first addressed in his earlier book Law, Economics and Antitrust.
This book makes a rational and eloquent case for the closer integration of ethics and economics. It expands upon themes concerned with esteem, self-esteem, emotional bonding between agents, expressive concerns, and moral requirements.
The purpose of this book is to reconsider economic liberalism from the viewpoint of political liberalism. The author argues that advocates of economic liberalism largely overlook empirical political preferences which, in many societies, go far beyond a limited role of the state. Recent difficulties of reforming the welfare state provide evidence that political preferences are at odds with liberal economic policy in numerous cases. This fact challenges a political conception which demands a limited state role but also claims that citizens’ preferences ‘as they are’ should determine the content of policies. Using an evolutionary perspective on economic liberalism, the book develops new arguments about how economic liberalism can be brought into line with political liberalism.
The Founders of the American Republic set up a remarkable experiment in self-government. Today, debates rage as to the philosophical legacy of this ongoing experiment. In this fascinating study, Timothy Roth offers a critical analysis of modern liberalism and the economic theory to which it is conjoined – social welfare theory.
This timely and important volume addresses the serious challenges faced by democracy in contemporary society. With contributions from some of the world’s most prestigious scholars of public choice and political science, this comprehensive collection presents a complete overview of the threats democracy must confront, by both contesting accepted ideas and offering new approaches. Using theoretical and empirical evidence, this book will be a significant addition to the current literature, providing original and enlightening perspectives on the theory of democracy.
There is a long-standing difference amongst public economists between those who think that collective choice must be formally acknowledged, and those who derive their policy recommendations from a social planning framework in which politics plays no role. The purpose of this book is to contribute to a meaningful dialogue between these two groups, in the belief that the future of both political economy and of normative public finance lies somewhere between the two approaches.
Some of the specific questions addressed in the book include: does public finance need political economy? Should collective choice play a role in the standard of reference used in normative public finance? What is a ‘failure’ in a non-market or policy process? And what have we learned about the theory and practice of public finance from three decades of empirical research on public choice? The book also provides a practitioner’s view of the political economy of redistribution.
With this important book, esteemed economist Leland B. Yeager grounds moral and political philosophy in the requirements of a well-functioning society, one whose members reap the gains from peaceful cooperation while pursuing their own diverse goals.