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Studies in Public Choice

Markets and Politicians

Politicized economic choice

Editors: Hillman, Arye L. (Ed.)

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  • ISBN 978-94-011-3882-6
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About this book

Arye L. Hillman There has been much economic theorizing directed at providing the politician with guidance in the design of policies that will amend market outcomes in ways that achieve specified efficiency or equity objectives. It has been common practice in economic models to portray the politician who implements the policy recommendations as a mechanistic individual who behaves as would a benevolent dictator to maximize a prespecified conception of social welfare or the utility of a representative consumer. The self-interest and discretion that is attributed to firms and consumers as optimizing agents is absent from the motives of such a politician. Economic policy choice is thereby depoliticized. How well depoliticized economic theory fares in explaining or predicting economic policy choice depends naturally enough upon how politicized is the economic system in which economic and political agents function. The papers in this volume recognize that politicians may exercise sufficient discretion so as not to behave mechanistically in correcting market inefficiencies or in pursuit of a somehow specified just income distribution. Since politicians are viewed as self-interested optimizing agents, just as are utility-maximizing consumers and profit-maximizing producers, the choice of economic policies is politicized. Coverage is provided of a broad spectrum of economic policy choice where markets and politicians interact. Section I is concerned with policy determination in western market economies, Section II with the introduction of markets into economies in transition from socialism, and Section III with international transactions.

Table of contents (18 chapters)

  • Economic Policies and Political Competition

    Ursprung, Heinrich W.

    Pages 1-25

  • Voluntary Collective Action

    Guttman, Joel M.

    Pages 27-41

  • Factor Income Taxation in a Representative Democracy

    Mayer, Wolfgang (et al.)

    Pages 43-61

  • Macroeconomic Stabilization Policy: Does Politics Matter?

    Paldam, Martin

    Pages 63-91

  • Accidental Freedom

    Tullock, Gordon

    Pages 93-112

Buy this book

eBook $189.00
price for USA (gross)
  • ISBN 978-94-011-3882-6
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $239.00
price for USA
  • ISBN 978-0-7923-9135-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $239.00
price for USA
  • ISBN 978-94-010-5728-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Markets and Politicians
Book Subtitle
Politicized economic choice
Editors
  • Arye L. Hillman
Series Title
Studies in Public Choice
Series Volume
6
Copyright
1991
Publisher
Springer Netherlands
Copyright Holder
The Editor(s) (if applicable) and The Author(s) 2018
eBook ISBN
978-94-011-3882-6
DOI
10.1007/978-94-011-3882-6
Hardcover ISBN
978-0-7923-9135-7
Softcover ISBN
978-94-010-5728-8
Series ISSN
0924-4700
Edition Number
1
Number of Pages
XVI, 368
Topics