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The domain of constitutional economics
Abstract
Constitutional political economy is a research program that directs inquiry to the working properties of rules, and institutions
within which individuals interact, and the processes through which these rules and institutions are chosen or come into being.
The emphasis on the choice of constraints distinguishes this research program from conventional economics, while the emphasis
on cooperative rather than conflictual interaction distinguishes the program from much of conventional political science.
Methodological individualism and rational choice may be identified as elements in the hard core of the research program.
... Public choice ofrece una serie de teoremas de Buchanan-Tullock sobre el intervencionismo, que significa el fin del romanticismo político y su Estado paternalista, porque hay muchos juegos de poder en las decisiones, con efectos correlacionados: buscadores de rentas, clientelismo, capitalismo de ami-gos, agenda inconclusa e inclusiva, etc. (Buchanan y Tullock, 1962). Constitutional Economics ofrece el teorema de Buchanan sobre la relevancia de las reglas (Brennan y Buchanan, 1985;Buchanan, 1986Buchanan, , 1987Buchanan, , 1990, en coincidencia con Hayek, 1960Hayek, , 1973. Combinando los anteriores enfo-ques en materia de R&E, la labor impulsora de Tollison (1989Tollison ( , 2003Tollison ( , 2006 es clave. ...
... There are many power games affecting all the decisions with externalities or collateral effects like rent-seekers, log-rolling, crony capitalism, omnibus regulation, unfinished agenda, etc. (Buchanan & Tullock, 1962;Anderson, 1986). Constitutional Economics is based on the Buchanan theorem about the relevance of the rules (Brennan & Buchanan, 1985;Buchanan, 1986Buchanan, , 1987Buchanan, & 1990. Cliometrics offers empirical remarks, such as Fogel´s studies of the real impact of technology in the development of the US (railway industry was less than 2% of GDP in the 19 th century, but, in contrast, the religious factor was more relevant, Fogel, 1964. ...
... Adding to this, it no longer conceives of migration as the flux of groups, organized by imposed communities (family and religion), but rather sees it as an individual phenomenon, with a selection of support structures (both legal and illegal): this is the marginal man theory (Goldberg, 1941;Park, 1928;Stonequist, 1937) Coase, 1937Coase, , 1960Posner, 1973Posner, , 1979, Public Choice & Constitutional Economics (i.e. Buchanan & Tul-lock, 1962;Brennan & Buchanan, 1985;Anderson, 1986;Buchanan, 1987Buchanan, , 1990, Possibilism & Institutional Analysis (i.e. Hirchsman, 1970Fogel, 1964Fogel, , 2003, etc. ...
This PhD dissertation offers a study on Political Economy and History of Economics & Institutions, to review the foundations and experiences of American capitalism from the religious and ideological factor, in the way to understand the development of cooperativism according to this, as it has been working in the discipline of Religion & Economics. Attention is focused on the model of the so-called popular capitalism (or Folksnomics) and its cooperative utopias experienced in the 19c., during the colonization of the American West, and its subsequent projection with the solidarity network as sanctuary movement. There is a review of the mainstream, the whig approach (of consensus, on the imposition of the industrial-North model on the agrarian-South model, without attention to the commercial-West model) and the woke view (of conflict, delegitimizing all American capitalism as slave-owning and hetero-patriarchal system). In this way, the traditional conflict-consensus dichotomous interpretation is improved with a heterodox reading of competition and cooperation (occurring simultaneously in the West, by free, entrepreneur and prosperous people). This reading allows to explain the development of the colonizing process in the West, with innovative private self-management companies (reconfiguring the class system, the economic agents, the production factors and the firms types and culture), in the form of community farms and workshops, and their surplus and its trade of food and tools (staple approach) favored the integration of the interior of the country; also, it prepared the conditions for the Second Industrial Revolution. Likewise, the sanctuary movement has been a private initiative, with confessional origin, for the inclusion of new migrants (as an improvement of labor factor and human & social capital), in opposition to the switch in public policies, moving from a model of freedom and open doors to another of persecution and deportations. In all these issues, the religious and ideological factors have been the key, when beliefs are imposed on institutions (confirming that there is no way for coercive centralized planning), and respectively producing the
paradox of colonization and sanctuary. The colonizing paradox consists in the fact that, while the first
companies to be established where the religious ones, with a low initial investment, being more productive and sustainable; on the other hand, the ideological companies, despite their subsequent constitution and with greater
social capital, they were the first to cease activity. The sanctuary paradox refers to the fact that the more the public powers deviate from the constitutional tradition (pro-freedom, property and migration), the greater the
reaction of civil society (for their restoration), giving rise to a new cycle of awakenings and revivals, for the
transformation of the socio-economic model; this is the case when it is religiously inspired, but if it is ideological, then polarization increases. This study offers a systematization of cases, by saturation of the typology of companies that competed in the colonization of the West, as well as support networks in the sanctuary movement,
to compare them and evaluate their efficiency and institutional quality according to theoretical and methodological heterodox frameworks of Austrian Economics and New-Institutionalist, according to the theorems and thesis of Mises, Hayek, Coase, Buchanan-Tullock, et al. In this way, it is possible to clarify the aforesaid paradoxes.
... Ao longo de sua carreira, Buchanan passa a se preocupar cada vez mais com o efeito das regras sobre o comportamento humano, chegando inclusive a iniciar uma nova agenda de pesquisa denominada economia política constitucional, que enfatiza o papel das normas sobre o comportamento individual e seus reflexos na sociedade -tema ao qual ele passa a se dedicar especialmente a partir de meados dos anos 1970. Essa subdisciplina, também chamada apenas de economia constitucional, possui suas diferenças em relação à economia convencional por se concentrar na escolha das restrições em vez de escolhas sob restrições, ao mesmo tempo em que se distancia da ciência política por sua ênfase na interação cooperativa em vez do conflito (Buchanan 1987;1990). ...
... No primeiro ocorre a escolha das normas, enquanto que no segundo os indivíduos se comportam levando em consideração a existência delas. Buchanan (1987;1990) apresenta a economia constitucional como uma redescoberta de duas tradições intelectuais distintas: a economia política clássica e a filosofia do contrato social. Da economia política clássica, Buchanan ( [19641987;1990, 10) interpreta que o objetivo de Adam Smith estava em compreender como os mercados funcionam. ...
... Na seção 4 é feita uma comparação de dois textos. Um deles, denominado The Domain of Constitutional Economics (Buchanan 1990), foi o artigo de abertura do primeiro número da revista Constitutional Political Economy. Nesse artigo ele apresenta as características do programa de pesquisa denominado economia constitucional e suas principais influências: a economia política clássica e a filosofia do contrato social. ...
Resumo O objetivo do presente artigo é contribuir com o estudo a respeito da trajetória intelectual de James M. Buchanan. O artigo argumenta que a tradição italiana de finanças públicas foi um importante canal de transmissão das ideias da economia política clássica e da filosofia do contrato social para Buchanan, temas que ele considera essenciais para a formação da economia constitucional. Isso é relevante para a melhor compreensão da trajetória de Buchanan na medida em que a importância da tradição italiana para a formação da economia constitucional é frequentemente subestimada pela literatura.
... El aplicar el postulado de la simetría y falibilidad conductual en distintos entornos institucionales nos lleva a reconocer que: (1) los mismos actores falibles, al interactuar bajo (2) diferentes reglas e instituciones, producirán (3) resultados disímiles (Buchanan 1990(Buchanan , 2008. Finalmente, es el conjunto de reglas presentes en la política o en el mercado lo que determinará los incentivos, la información y las propiedades epistémicas (del conocimiento) que poseerán los actores en un contexto dado (Buchanan 1990, North 1991. ...
... El aplicar el postulado de la simetría y falibilidad conductual en distintos entornos institucionales nos lleva a reconocer que: (1) los mismos actores falibles, al interactuar bajo (2) diferentes reglas e instituciones, producirán (3) resultados disímiles (Buchanan 1990(Buchanan , 2008. Finalmente, es el conjunto de reglas presentes en la política o en el mercado lo que determinará los incentivos, la información y las propiedades epistémicas (del conocimiento) que poseerán los actores en un contexto dado (Buchanan 1990, North 1991. Este postulado de la asimetría nos ayuda establecer un análisis más ponderado entre las fallas del mercado y las fallas del Estado (véase sección 4.2). ...
This essay analyzes the three fundamental premises underpinning public choice theory, based on the work of Nobel Prize winner James Buchanan. It first explores the three premises by analyzing Buchanan’s contractarian thought, illuminating what he considered its key elements: methodological individualism, behavioral symmetry, and politics as an exchange. Thereafter, the essay examines three major economic, political, and philosophical implications that can be derived from such a vision. The essay concludes by highlighting that under Buchanan’s contractarian paradigm, we can derive significant concepts and original theoretical implications concerning how we can think and reconfigure a pluralist social order compatible with the principles of liberal democracy and association.
... Fue entonces cuando, al aprovecharse el movimiento de libertades civiles, surgió el activismo judicial moderno (basado en un supuesto Derecho sociológico, resultando más bien constructivismo jurídico y uso alternativo del derecho) con figuras como affirmative action o discriminación positiva (Sánchez-Bayón, 2013a, 2014a, 2015y 2019a. En los años 80 tuvo su contestación con el movimiento originalista (Berger, 1987;Kirk, 1999), más la Economía Constitucional (Brennan y Buchanan, 1985;Buchanan, 1987;Buchanan, 1990). Al terminar la Guerra fría, con la caída de la URSS (1989-91), se confió en el triunfo de las democracias liberales y su Estado de Derecho (calificándose como el fin de la Historia, Fukuyama, 1989Fukuyama, y 1992, pero en la década del 2000 comenzó otra nueva guerra fría (con la Guerra contra el terror y el eje del mal o anti-occidentales, Sánchez-Bayón, 2017), así como otras guerras culturales, por el control de la cultura y la educación (Gramsci, 1948-51), y condicionar de este modo la justicia (su noción, su naturaleza, sus instituciones, etc.), ya no vista desde el logos (racionalidad individual), sino desde el pathos (sentimiento colectivo), por influjo de las políticas identitarias y sus sentido de la justicia social (Lilla, 2017;Fukuyama, 2018). ...
... b) Enfoque neo-institucionalista de la Nueva Economía Política (NIE-NEP): a) Law & Economics o Análisis Económico del Derecho es importante el teorema de Coase sobre la empresa y los costes transaccionales (Coase, 1937(Coase, , 1960; b) Public choice o Elección pública ofrece una serie de teoremas de Buchanan-Tullock sobre el intervencionismo excesivo, sustentados en el fin del romanticismo político y su Estado paternalista, porque hay muchos juegos de poder y agendas ocultas en las decisiones, con efectos correlacionados: buscadores de rentas, clientelismo, capitalismo de amigos, agenda inconclusa e inclusiva, etc. (Buchanan y Tullock, 1962;Anderson, 1986); c) Constitutional Economics o Economía constitucional ofrece el teorema de Buchanan sobre la relevancia y coste de las reglas (Brennan y Buchanan, 1985;Buchanan, 1986Buchanan, , 1987Buchanan, , 1990, en coincidencia con Hayek, 1960Hayek, , 1973. Su metodología también se basa en el principio de realismo y el individualismo metodológico y (re)compositivo para explicar fenómenos complejos, reforzándose todo ello con ilustraciones empíricas (algo parecido a lo que se hace en el ámbito del Derecho, al acompañar a los argumentos con evidencias). ...
This is a critical review on Comparative Law, Legal Sociology, Political-Legal Philosophy and New Political Economy, applied to the institution of judicial activism and its effects. This is a growing problem in democracy and the rule of law, as the effective separation of powers is not respected and there is a tendency towards confusion between the Executive Branch and the Judicial Branch. Here, there is an analysis of the political-legal nature and unwanted effects on the figure and its systematization, empirically illustrated with sentences. All of this is completed with a ruling on the alleged institutional crisis and political-legal regime that it entails.
... As such, I instead follow the constitutional political economy perspective (Buchanan & Tullock, 1962;Brennan & Buchanan, 1980;Buchanan, 1990;Congleton, 2006). I use this perspective to attribute the increase in deficits and public debt to a change in the choice over constraints-which I refer to as changes in the 'fiscal constitution.' ...
... Indeed, the comparative static framework of this paper effectively removed the element. However, choice-more specifically, choice through exchange-are crucial elements of Buchanan's (1990) constitutional economics framework. ...
Despite both chambers of the United States Congress passing budgetary rules to limit deficits and public debts, the deficit and, as a result, public debt, have increased dramatically. Most political economy literature has attributed these phenomena to the tragedy of the fiscal commons or political budget cycles. In contrast, this paper attributes these phenomena to a change in the fiscal constitution—specifically, the Congressional Budget and Impoundment Control Act (CBICA) of 1974. Prior to the passage of the CBIA, the fiscal constitution was such that the Executive Branch led the federal budgeting process. The Executive Branch leading the budgetary process effectively established a constraint on Congress’ propensity to use deficit and public debt finance. The passage of CBICA, however, established a new fiscal constitution that removed this constraint. The CBICA provided Congress with the lead over the budgeting process. This new fiscal constitution established by the CBICA caused an increase in deficits and public debt—despite budgetary rules aiming to stop such increases. Budgetary historical narratives are provided to support the theory.
... El aplicar el postulado de la simetría y falibilidad conductual en distintos entornos institucionales nos lleva a reconocer que: (1) los mismos actores falibles, al interactuar bajo (2) diferentes reglas e instituciones, producirán (3) resultados disímiles (Buchanan 1990(Buchanan , 2008. Finalmente, es el conjunto de reglas presentes en la política o en el mercado lo que determinará los incentivos, la información y las propiedades epistémicas (del conocimiento) que poseerán los actores en un contexto dado (Buchanan 1990, North 1991. ...
... El aplicar el postulado de la simetría y falibilidad conductual en distintos entornos institucionales nos lleva a reconocer que: (1) los mismos actores falibles, al interactuar bajo (2) diferentes reglas e instituciones, producirán (3) resultados disímiles (Buchanan 1990(Buchanan , 2008. Finalmente, es el conjunto de reglas presentes en la política o en el mercado lo que determinará los incentivos, la información y las propiedades epistémicas (del conocimiento) que poseerán los actores en un contexto dado (Buchanan 1990, North 1991. Este postulado de la asimetría nos ayuda establecer un análisis más ponderado entre las fallas del mercado y las fallas del Estado (véase sección 4.2). ...
Resumen Este ensayo analiza las tres premisas de la teoría de la elección pública a través del pensamiento del Premio Nobel James Buchanan. Primero, se exploran los tres principios orientadores de la elección pública, mediante el trabajo contractualista de Buchanan: el individualismo metodológico, la simetría del comportamiento y la política como procesos de intercambio. Posteriormente, se examina en detalle las tres principales implicancias económicas, políticas y filosóficas que se pueden derivar de dicha visión analítica. El ensayo concluye señalando que-desde el paradigma contractualista de Buchanan-se obtienen ciertos conceptos decisivos e implicancias teóricas originales que generan nuevas categorías filosóficas y políticas acerca del rol de los economistas y de un orden social pluralista, compatibles con la democracia liberal y con la asociación.
... For a country to get out of this poverty trap, the country needs radical policies, which can be best done through institutional arrangement. More so, the public choice theory developed by Stigler (1971) and Peltzman (1976), which focuses on the aggregation of an individual interest's welfare to be more inclusive, is cantered on achieving inclusive development through good and quality institutions (Buchanan 1990;Tullock 2008). Yinusa, Aworinde, and Odusanya (2020) established from an asymmetric co-integration approach that, institutional quality improves inclusive growth in Nigeria over the period 1984 to 2017. ...
The purpose of this study is to investigate the effect of biocapacity and institutional quality on inclusive human development in Sub-Saharan Africa. The positioning is motivated by the relevance of complementing the extant literature with an alternative indicator of environmental sustainability. Using system-Generalized Method of Moments (GMM) on a sample of 39 countries, it is found that institutional quality increases inclusive human development and all its components. It is also established that biocapacity positively affects inclusive human development and the underlying positive effect is driven by the inclusive health component of inclusive human development and not by the inclusive education and inclusive income components of inclusive human development. A keen follow-up of environmental laws is a safe path for inclusive human development in Sub-Saharan Africa. Other policy implications are discussed to further enhance the relevance of the findings.
JEL Classification: G20; I10; I32; O40; P37
... In this paper, we challenge this apparent consensus by bringing to bear a constitutional political economy perspective (Buchanan & Tullock, 1962;Buchanan, 1990) on the inclusion of secession clauses in federal constitutions. The lynchpin for our argument is the observation that when there is an imbalance in the political influence of federal sub-units, federations confront a credible commitment problem in implementing a "federal bargain" that reflects the interests of all units (Buchanan & Faith, 1987). ...
Scholars have generally taken a negative view of the inclusion of secession rights in federal constitutions. Adopting a constitutional political economy perspective, we challenge this consensus by highlighting the critical role that the right to secession can play in enforcing a federal bargain in the face of significant political imbalance among federal sub-units. We demonstrate that the inclusion of a secession right can allow for unanimous constitutional agreement to the formation of a federation in circumstances in which such agreement cannot be reached on a federation without a right to secession, even if union is potentially in the interests of all members.
... The constitutions of (somewhat) democratic nations can be interpreted as a legitimate substitute for a contract between all the individuals of the society and, in practice, their representatives with on-the-ground negotiating authority, such as the 'founding fathers', Nelson Mandela or even Alberto Fugimori. This assumes that behind a 'veil of ignorance' as to everyone's ex post position, we can treat constitutions as efficient on the basis that the negotiators shared an ex ante expectation of mutual gain when they ratified (Buchanan, 1990;Harsanyi, 1953;Vanberg, 2020). ...
Many policymakers are unwilling, or think that it is infeasible, to perform comprehensive cost–benefit analysis (CBA) of programmes in social policy arenas. What principles actually underlie CBA? An understanding is necessary to assess whether other evaluation methods are close enough to CBA to provide useful information on social efficiency. This paper explains five underlying CBA principles and the challenges in applying them to social policy arenas. It assesses a number of ‘less‐than comprehensive’ versions of CBA and analyses their ‘closeness’ to comprehensive CBA and, thus, their value as assessments of changes in social efficiency. We show some types of analysis are not close enough and explain why. We provide a taxonomy of these methods in terms of their comprehensiveness with respect to both social costs and benefits. We also argue that an analysis should provide a clear normative basis for its geographic scope in order to claim it assesses economic efficiency.
... Herzberg 2005: 190-91). Buchanan, in contrast, typically continues to rely on the standard model of homo economicus in his constitutional analysis(Buchanan [1979b(Buchanan [ , [1990; alsosee Kirchgässner 2014: 8-10 and Congleton 2018: 33, 42). Ostrom does not discuss Buchanan's use, in his analysis of the constitutional moment, of the assumption that people make constitutional decisions behind a 'veil of uncertainty' that facilitates agreement on a set of fair constitutional rules Tullock [1962] 1999: 78-79;Brennan and Buchanan [1985] 2000: 33-36; also see Congleton 2018: 45).Content courtesy of Springer Nature, terms of use apply. ...
This paper examines the relationship between the work of James Buchanan and Vincent Ostrom. It adds to existing work by providing a comprehensive analysis of Buchanan’s and Ostrom’s changing views about how the ‘logical foundations of constitutional democracy’ should be conceptualised. The paper traces how in the 1960s and 1970s Ostrom took inspiration from the rational choice analysis of constitutional democracy in Buchanan and Tullock’s The Calculus of Consent, explaining how it shaped his reading of key texts in political theory and his analysis of public administration. It then discusses how Buchanan subsequently drew on Ostrom’s notion of artifactual man in developing his understanding of the ‘constitutional attitude’ necessary for individuals to engage in institutional design. It then explores how, from the mid-to-late 1990s, Ostrom became increasingly critical of Buchanan’s reliance on rational choice theory for his analysis of constitutional decision-making, identifying this as a key difference between their views.
... The theory has roots in positivist analysis, but is often used for normative purposes as it identifies a problem and suggests improvements to existing systems. Public Choice Theory is related to Social Choice Theory which is a mathematical approach to aggregation of individual interests and welfares of a population (Buchanan 1990). ...
This chapter entails brief elucidations of three decision-making theories, five economic theories, and eleven education (learning/teaching) theories. The theories on decision-making concern the action or process of choosing among alternative options, especially important ones. Those on economics deal with the production, consumption, and transfer of wealth. And those on education – learning/teaching – discuss the acquisition and instruction of knowledge or skills through experience, study, or by being taught.
... 34 See, e.g. Buchanan (1990Buchanan ( and 2000Buchanan ( [1975) or Brennan and Buchanan (1985). For commentary and critique, see Hardin (1988), Gordon (1976) or Voigt (1997). ...
Unlike many of its Eastern European neighbors, the Czech Republic originates from a healthy constitutional tradition. Upon the creation of Czechoslovakia and through the modern day, the Czech Republic has had four constitutions, with major amendments to the documents of the Communist era. Three constitutions, from 1920, 1948, and 1960, served as guidelines for the creation of the 1992 constitution. Because the Czech Republic had not foreseen the Velvet Divorce from Slovakia, government officials found themselves in a rush to create a constitution for the new Czech state. The new document responded to the many injustices of the Communist era and adopted most of the precedents set in the 1920 constitution. The Czech Republic’s democratic and constitutional past sets it apart from other Eastern European countries, especially in terms of contemporary political and economic liberty.
... Sobre la Escuela Austriaca se recomienda la síntesis del Prof. Huerta de Soto (2000). En lo tocante al intervencionismo de género, baste recordar las críticas de sus integrantes al respecto: a) las instituciones sociales son evolutivas, no diseñadas (Menger, 1871;Hayek, 1952aHayek, -b y 1988; b) la distinción entre Derecho y regulación (Hayek, 1973-79); c) errores del direccionismo o intervencionismo estatal (Ballvé, 1956(Ballvé, [2012; Huerta de Soto, 1992); d) detección de errores conceptuales e ideológicos, tipo conceptos comadreja (Hayek, 1952a-b), polilogismos (Mises, 1957, etc. Sobre el neoinstitucionalismo, cabe destacar las siguientes corrientes y planteamientos que lo integran: a) Law & Economics-L&E o (Coase, 1937(Coase, y 1960Posner, 1973Posner, y 1979, que permite cuestionarse los incentivos, eficiencia y calidad institucional de la regulación y políticas públicas, así como los costes sobre bienes públicos y cómo mejorar con reasignaciones de derechos de propiedad; b) Public Choice-PCh o Elección Pública (Anderson, 1986;Buchanan y Tullock, 1962), sirviendo para revisar cómo se toman las decisiones colectivas (según la maximización de intereses de los agentes económicos que operan tras el Estado: los burócratas, los políticos y los grupos de presión e interés, sobre todo), con sus beneficiarios y perjudicados (dados los costes del consenso), teniéndose en cu enta hipótesis como la agenda interminable, las redes clientelares, las leyes ómnibus, el sistema de espolio o reparto del botín, nepotismo, etc.; c) Constitutional Economics-CE o Economía Constitucional (Brennan y Buchanan, 1985;Buchanan, 1987Buchanan, y 1990, favorece la reducción del exceso de regulación, abogando por leyes más breves y claras, que pongan unas reglas básicas y asumibles, permitiéndose así más intercambios y menos costes de consenso, de información y de oportunidad (además de evitarse efectos perversos de segunda ronda, como el aumento de la informalidad, la corrupción, etc.). ...
La cuestión de género refiere un problema social de múltiples aristas: va más allá de la prevención y represión del machismo (también un concepto laxo: desde el maltrato y feminicidio hasta el piropo o las cuotas y ayudas específicas), pues buena parte de la doctrina entiende que se trata de la agenda para subvertir el orden dado en Occidente, por basarse en planteamientos hetero-patriarcales capitalistas (Johnson y Zubiaurre, 2012; Laje, 2022). Hoy en día es más confuso aún, al combinarse con otra agenda subversiva del orden establecido, como es la del cambio climático y decrecimiento (Mellor, 1992 y 1997; Koch, 2019; Fullbrook y Morgan, 2021; Keen, 2021), además de sufrir un giro hermenéutico de 180º, pasándose de postulados feministas cis-género (cis) a feministas trans-género (trans). Por tanto, para comprender mejor una cuestión tan difusa y polémica, defendida desde el pathos (o sentimiento compartido), en este estudio se ofrece un dictamen (un análisis es de el logos o la racionalidad técnica individual), sobre los efectos jurídico-económicos de la cuestión de género impulsada por el intervencionismo estatal. Para ello se recurre a los enfoques de la Escuela Austriaca y de los Neoinstitucionalistas, quienes comparten, entre otros supuestos, la premisa de desconfianza del poder (al corromper y reprimir), el principio de realidad (evitándose la falacia naturalista), el individualismo metodológico (al obligar a profundizar en cualquier organización y llegar a los fundamentos y agentes concretos involucrados, con sus agendas ocultas, Pérez-Huertas et al, 2014).
... C'est que, tout comme les (néo-) marxistes, les théoriciens néo-libéraux appréhendent eux aussi le droit comme un instrument de domination, au service de la concrétisation de l'ordre économique et de l'endiguement des insurrections sociales et politiques. Le courant de la « constitutional economics », popularisé par l'économiste étatsunien James Buchanan (Buchanan, 1987(Buchanan, , 1990Buchanan et Tullock, 1962), chef de file de la théorie des choix publics et récipiendaire du prix de la banque de Suède en sciences économiques (le « Prix Nobel » d'économie), ambitionne ainsi d'inscrire l'équilibre budgétaire au coeur de la constitution afin de limiter le pouvoir discrétionnaire des gouvernements dans les domaines sociaux et économiques -une manière douce de « détrôner la politique », selon l'expression d'Hayek lui-même (Chamayou, 2018). De leur côté, les ordo-libéraux allemands plaident en faveur d'un État fort, chargé d'une politique active de « mise en ordre » (Ordnungspolitik) d'une économie concurrentielle. ...
... For a country to get out of this poverty trap, the country needs radical policies, which can be best done through institutional arrangement. Moreso, the public choice theory developed by Stigler (1971) and Peltzman (1976), which focuses on the aggregation of an individual interest's welfare to be more inclusive is cantered on achieving inclusive development through good and quality institutions (Buchanan, 1990;Tullock, 2008). ...
The purpose of this study is to investigate the effect of biocapacity and institutional quality on inclusive human development in Sub-Saharan Africa. Using system-GMM on a sample of 39 countries, it is found that institutional quality increases inclusive human development and all its components. It is also established that biocapacity positively affects inclusive human development and the underlying positive effect is driven by the inclusive health component of inclusive human development and not by the inclusive education and inclusive income components of inclusive human development. A keen follow-up of environmental laws is a safe path for inclusive human development in Sub-Saharan Africa.
... Furthermore, Per Krusell and José-Víctor Ríos-Rull stated that there is a link between economic development and democratic processes and the constitution. James M. Buchanan, laureate of the 1986 Commemorative Nobel Prize in Economic Science -The Constitution of Economic Policy, has shown how normative concerns can once again revive economic value, albeit in an unromantic way based on a realistic understanding of human nature (Buchanan, 1990). ...
The constitutional interpretation of the regulation of State-Owned Enterprises (BUMN) is still looking for the right method, BUMN as the embodiment of the constitution for the state's responsibility in managing strategic resources that are used as wide as possible for the prosperity of the people. Submission of a judicial review to the Constitutional Court regarding BUMN can show the direction of constitutional interpretation given by the judges of the Constitutional Court. This article examines whether the constitutional interpretation of SOE arrangements is in accordance with Indonesia's national economic system. The method of approach in this writing is descriptive analysis which explains and analyzes the constitutional interpretation of SOE regulations. the results of the study reveal that the constitutional court has carried out its duties in accordance with the basic principles and principles of the constitution. The Constitutional Court in every decision in the field of BUMN dominates its interpretation by using an originalist interpretation.
... Similarly, according to Tarek and Ahmed (2017), public debt management in economies is dependent on political interest. Hence, if the political decisions of an economy are in line with the public choice theory of democracy, which states that political decisions do not normally favour the interests of the public (Buchanan, 1990), then high PD would accumulate because political decisions determine the role of EI on PD. According to Larsson and Parente (2011), autocrats and democratic leaders do not agree on decisions that directly affect economic performance. ...
Purpose
This study assessed the role of political institutions in the relationship between economic institutions and public debt in Sub-Saharan Africa.
Design/methodology/approach
Based on data availability, the study was done for 40 Sub-Saharan African countries from 2010 to 2019 employing generalized method of moment.
Findings
The authors documented a negative and significant relationship between economic institutions and public debt as well as a negative and significant effect of political institutions on public debt in SSA. Also, the study recorded that political institutions play a negative and significant role in the economic institutions-public debt nexus in Sub-Saharan Africa. However, a threshold of 3.691 is given when it comes to the role of political institutions in the association between government spending and public debt nexus in SSA.
Research limitations/implications
The authors failed to take certain indicators of economic institutions, such as freedom to trade internationally, the size of government and legal system and property into consideration.
Practical implications
The authors suggest that democracy is necessary for boosting economic institutions-induced public debt reduction in SSA.
Originality/value
The novelty of this study is evident in two ways: first, the authors assessed the relationship between economic institutions and public debt in SSA using novel measures such as government integrity, tax burden and government spending from the Heritage Foundation instead of traditional institution measures from World Governance Indicators used by earlier studies. The authors further contribute to literature by being the first to consider the foundational role of political institutions in employing economic institutions to fight high public debt in SSA. Again, the authors included the threshold at which political institutions can cause economic institutions to have a desired impact on public debt in SSA.
... There are many power games affecting all the decisions with externalities or collateral effects like rent-seekers, log-rolling, crony capitalism, omnibus regulation, unfinished agenda, etc. (Buchanan & Tullock, 1962;Anderson, 1986). Constitutional Economics is based on the Buchanan theorem about the relevance of the rules (Brennan & Buchanan, 1985;Buchanan, 1986Buchanan, , 1987Buchanan, & 1990. Cliometrics offers empirical remarks, such as Fogel´s studies of the real impact of technology in the development of the US (railway industry was less than 2% of GDP in the 19 th century, but, in contrast, the religious factor was more relevant, Fogel, 1964. ...
Revisión analítica de la versión positiva de la colonización del Oeste estadounidense, para clarificar el complejo proceso y comparar las experiencias. El marco teórico y metodológico procede de la Escuela Austriaca de Economía y los enfoques Neo-institucionales, aplicados a la disciplina Religión y Economía. La primer parte ofrece una visión de conjunto sobre las bases del movimiento cooperativo en Estados Unidos de América. La segunda parte supone una sistematización y comparación entre utopías religiosas e ideológicas en la frontera, como un tipo de empresas cooperativas de intención de vida en granjas y talleres, para mejorar el comercio y las conexiones a lo largo del país. Finalmente, se plantea un análisis de eficiencia y sostenibilidad entre las experiencias. Esta revisión pretende explicar la paradoja colonial de las utopías estadounidenses, por las últimas en establecerse, con mayor inversión inicial, fueron las primeras en quebrar. Este estudio rastrea el desarrollo de los Territorios del Oeste, desde el marco del Sagrado experimento de los cuáqueros y su apoyo a los experimentos de utopías en la expansión hacia Ohio, Indiana e Illinois. Esta revisión permite estudiar las utopías estadounidenses y compararlas, con una explicación sobre la paradoja colonial estadounidense. También ofrece casos históricos y reales de experiencias anarco-capitalistas.
... Central to constitutional economics is the notion that the outcome of economic activity depends on the institutional framework in which the activity takes place; and that this framework is the subject of deliberate choice. Constitutional economics, then, investigates the choice among rules and institutions, rather than interactions within a given framework of rules (Buchanan, 1990). ...
James Buchanan would have celebrated his 100th birthday in 2019. This serves as an inspiration to look at the future of public choice and the question of how much normativity public choice can bear. In our analysis we draw parallels between public choice and German ordoliberalism (and its source in the Freiburg School of Economics). We argue that the reception of ordoliberalism exemplifies easy-to-grasp pitfalls that should be taken seriously. We anchor the future agenda of public choice in a solid individualist perspective. Similar to ordoliberalism, public choice will have to clarify its relation to normative economics. The effects of rules and institutions and their working properties should be thoroughly analyzed empirically. The role of ideas is important for the normative foundation of both public choice/ constitutional economics and ordoliberalism, and is rooted in normative individualism. It provides a benchmark by which rules and institutions can be judged as favorable.
... There are many power games affecting all the decisions and, so, the effect is rent-seekers, crony capitalism, unfinished agenda, etc. (Buchanan & Tullock 1962). Constitutional Economics is based on Buchanan's theorem about the relevance of the rules (Brennan & Buchanan 1985;Buchanan 1986Buchanan , 1987Buchanan , 1990. Cliometrics offers empirical remarks, such as Fogel's studies of the real impact of technology in the development of the United States of America (railway industry was less than 2% of gross domestic product [GDP] in the 19th century, but, in contrast, the religious factor was more relevant (Fogel 1964(Fogel , 2000Fogel & Engerman 1974). ...
This is a critical-hermeneutical and historical-comparative study on Political Economy, Economic History and Social Thought, applied to the American utopias in the 19th century and its role in the colonisation of the United States (US) west. This review is based on a heterodox economic approach, used in the disciplines of Religion and Economics. It gives a general view of religious and ideological utopias, as cooperative enterprises of intentional life in farms and workshop, making a comparative analysis of efficiency and sustainability. This study attempts to explain the colonial paradox of American utopias because the last established, with more inversion, they were the first to fall. This study shapes the development of the western territories, from the Quaker’s Holy Experiment framework and its support for the utopias experiments in the expansion to Ohio, Indiana and Illinois.Contribution: This review offers a descriptive and explanatory study on the colonisation of the US west, under the hermeneutical turn from heterodox economic approaches, to deal with some current contradictions and anachronism in the mainstream view. Also, there is a systematisation of the American utopias, divided into religious and ideological experiments, with a comparison.
The chapter is in two parts. Firstly, a phenomenological model of unity of knowledge premised on a systemic way of understanding oneness of the divine law for the world-systems is presented. The methodology of such a worldview is proved to be universal for ‘everything’. Yet specificity is taken up by applying this worldview methodology to specific problems and issues. The case of Tawhid, Islamic monotheism, is taken up in the context of this systemic understanding of unity of knowledge in the formation of Islamic market. What is the ethical and moral foundation of the Islamic (so-called Shari’ah) market? Upon the answer to this epistemological question, the nature of knowledge and the learning systems are formulated. The endpoint is to define the concept of Islamic market in the light of the phenomenological model of unity of knowledge according to the Tawhidi methodological worldview.
The roots of the 2008 global financial crisis that originated in the US subprime mortgage market are firstly traced to the demand side of financing. Borrower preferences are explained to be based on excessiveness of ownership and spending. Such excessive consumer preferences are matched up with the suppliers’ decision to allow easy lending and accumulation of multiple debt-ridden loans. The cost of such financial excessiveness is shown to be the rate of interest. The relevance of interest rate in efficient financing and economic resource mobilization is questioned here from the theoretical side. Its rejection and replacement by participatory financing instruments in the good things of life is formalized. A new financial architectural design is thus laid out in terms of the central issue of money, finance, and real economy complementary relations. These relations can be simulated by circular causation equations. The foundational conceptual premise is governed by the episteme of unity of knowledge. Thus, the Islamic worldview of unity of knowledge is invoked to address the theme of 100% Reserve Requirement Monetary System (100%RRMS). Its social and economic implications are formalized.
Study around the concept of agricultural property and the different limits that fall on it as a consequence of the social function that, in defense and development of the environment and agricultural space, is required by national and European.
We examine the relevance of the stories of Ulysses and the prophet Jonah as allegories within the field of constitutional political economy, inspired by Hillman’s editorial commentary in Public Choice . The story of Jonah illustrates how a constitution imposed by a monocratic/theocratic authority, God, can lead to unforeseen negative consequences due to its rigid, monistic structure. In contrast, Ulysses’ journey beyond the Pillars of Hercules symbolizes the pursuit of knowledge and progress achieved through human capital and collective effort rather than divine intervention. As Ulysses and his sailors exemplified, the perpetual search for improvement represents the trial-and-error process necessary for constitutions based on liberal-democratic premises to adapt to a complex and evolving world.
Most public finance theorizing treats its material of public finance as reflecting some ruler's optimizing choices. Within democratic regimes this ruler is typically a median vote. While this approach has tractability on its side, it achieves that tractability by presenting caricatures of democratic fiscal processes by reducing democratic complexity to monocentric simplicity. In contrast, this paper explores a polycentric or invisible hand framework for fiscal theorizing, which recognizes that no single mind is even capable of apprehending in detail the substantive reality of modern fiscal processes. What results is recognition that fiscal processes resemble market processes in that they operate through knowledge that is distributed among participants and where fiscal outcomes are products of spontaneous ordering that emerges through competitive interaction among political enterprises within a quasi-market process of open competition.
By distinguishing between surface- and deep-level heterogeneity, this paper explores how heterogeneity among voters might be incorporated into a theory of political economy. Central to this exploration is the distinction between organizations and orders. Existing theories of political economy typically assimilate a state to an organization, and with an election being a vehicle for choosing among competing plans for the organization to pursue. This treatment imposes a deep homogeneity among voters as an analytical point of departure. in contrast, we advance a treatment of polities as orders, with many different organizations operating within their boundaries. This alternative formulation provides analytical space for deep heterogeneity to enter the analysis, and also brings into the analytical foreground the constitutional framework within which state policy emerges.
Se revisan aquí los fundamentos y desarrollo comparado de la cuestión de género, para realizar un análisis económico de costes, incentivos, eficiencia y bienestar. Se centra la atención en el cuestionamiento de las aportaciones de la Economía Pública, al tratar de desideologizar el género y abordarlo desde la Elección colectiva y como un bien público de provisión y promoción estatal según su función de bienestar social. Para tal revisión, se recurre a los marcos teóricos y metodológicos de la Elección pública (y demás enfoques neoinstitucionales y otros heterodoxos complementarios), con ilustraciones empíricas comparadas, de modo que sea posible el ofrecer una sistematización de los efectos negativos de la intervención pública en economía, máxime en el caso del género y su paradoja aparejada.
From a Marxist perspective, Cécile Barbier retraces the historical construction of the European Union as an economic and financial free-market space, focused on how the ideas of the German ordoliberal tradition have been influential in shaping fundamental central institutions such as the Central Bank and the Eurozone. Particularly attentive to how the ordoliberal authors were initially inspired by Marxist capitalist critique with their idea of “social market economy”, as well as to how the recurring economic and political crisis of the European construction have led to the progressive radicalization of ordoliberal orthodoxy and of predatory finance, Barbier defends a critical return to Marxian perspectives and to the struggle for the commons.
Estudio crítico-hermenéutico e histórico-comparado de Economía Política e Historia Económica y del Pensamiento Social, aplicando enfoques heterodoxos, para revisar el proceso de colonización del Oeste estadounidense y refutar la visión dominante tendente al reduccionismo y la asunción de una serie de errores. Se atiende aquí a la importancia del factor religioso e ideológico, sistematizándose la diversidad de empresas coloniales privadas, impulsoras de granjas y talleres comunitarios, que facilitaron el desarrollo e integración del país. Se compara su gestión en términos de eficiencia y sostenibilidad. De este modo es posible explicar la paradoja de las utopías estadounidenses, según la cual, las últimas empresas en constituirse, que fueron las ideológicas, pese a contar con mayor capital, fueron las primeras en extinguirse, mientras que las religiosas, llegaron hasta la segunda revolución industrial y algunas hasta hoy. Abstract: This is a critical-hermeneutical and historical-comparative study of Political Economy, Economic History and Social Thought, applying heterodox approaches, to review the process of colonization of the American West and refute the mainstream view based on reductionism and the assumption of a set of errors. Attention is paid here to the importance of the religious and ideological factor, systematizing the diversity of private colonial companies, promoters of communitarian farms and workshops, which facilitated the development and integration of the country. Its management is compared in terms of efficiency and sustainability. In this way, it is possible to explain the paradox of American utopias, according to which the last companies to be established, which were the ideological ones, despite having more capital, were the first to become extinct, while the religious ones reached the second industrial revolution and some until today.
Esta es una revisión crítica neoinstitucionalista desde planteamientos de economía política comparada y enfoques heterodoxos, a fin de comprender y evaluar la cuestión de género y sus efectos no deseados, como la paradoja del género. Resulta que cuánto más ha avanzado la regulación de género, en especial la inspirada por el feminismo trans(de construcción sociocultural y sentimiento de autopercepción), parece haber disminuido el nivel de garantías jurídi-cas de la mujer cis (de base biológica y genética coincidente), además de causarse el efecto perverso de convertir la autonomía lograda en dependencia estatal. Se aborda una presentación del problema con una revisión histórica, com-parada y de narrativas, y se aclara cómo el feminismo se ha impuesto, ocultando el sufragismo y otros movimientos de los derechos de la mujer. Se continúa con una refutación de falacias de género, desde el estudio de su producción en el mundo anglosajón y nórdico hasta su distribución desde onu-Mujeres y la quinta generación de derechos humanos, de género y etnoculturales. Finalmente, se centra la atención en un caso de trasplante de la materia, como es el caso español, y se evalúan los “efectos no deseados” de su reciente regulación, además de probarse la paradoja citada. Se completa todo ello con unas conclusiones y futuras líneas de investigación.
Quel est le montant des transferts financiers entre la Flandre et la Wallonie ?
La solidarité entre les régions va-t-elle disparaître prochainement ? La dette de
la Région wallonne est-elle soutenable ? Les partenariats public-privé sont-ils une
solution miracle face au déclin de l’investissement public belge ? Toutes ces questions, d’une actualité brûlante, forment le cœur de cet ouvrage, consacré aux transformations contemporaines de la Belgique et de ses régions sous l’effet des normes nationales et européennes qui encadrent la gestion des deniers publics.
Cette étude analyse les deux principaux programmes de gouvernement des finances publiques belges – le fédéralisme budgétaire et fiscal, d’une part, et la gouvernance budgétaire européenne, d’autre part – à travers cinq études de cas richement documentées.
Celles-ci sont éclairées à l’aide d’une grille d’analyse innovante, qui combine les apports de la sociologie politique des finances publiques et de l’analytique de gouvernement esquissée par Michel Foucault.
Cette enquête pluridisciplinaire, située au carrefour de la science politique, du droit public, de l’économie et de la comptabilité, s’adresse à un large public : chercheurs, étudiants, praticiens du droit, mandataires et conseillers politiques, fonctionnaires, journalistes, etc. Elle apporte un recul bienvenu sur les enjeux financiers particulièrement complexes, mais non moins fondamentaux, qui façonnent la Belgique d’aujourd’hui et de demain.
The work concentrates on the implications of the idealistic and the political realism senses of protecting classical liberalism for entangled political economy through the economics framework of duality. While familiar political economy predicts the duality or equivalence of maximizing liberty and of minimizing coercion, we find that this is not the case for entangled political economy. This finding suggests that minimization of coercion is what can (and must) be genuinely solved to protect classical liberalism. This solution hinges on institutional design as opposed to allocative choice. And this solution implies that the relationship between liberty and coercion is itself entangled. Thus the failure of duality is another indication of how entangled political economy differs from more familiar political economy.
This is a critical review on gender issue, to understand and to evaluate the impact of the gender interven-tionism, with its costs, failures, paradoxes and other unwanted effects. This review uses the theoreticaland methodological frameworks from New-Institutional approach (Law & Economics, Public Choice,Constitutional Economic, etc.), to build bridges between Economy, Law and Politics, without confusionamong the social spheres and under the principle of reality, which rejects economic thaumaturgy, politicalromanticism and state paternalism. There is a historical-comparative review on the development of coerciveimplementation based on gender perspective and its agenda, from a macro-view to a micro level, focusingthe attention on the Spanish case. There is a final statement of its results, to clarify what kind of incentiveshave been given the gender bills and policies, the level of efficiency and institutional quality to solve socialproblems, the risks of an endless agenda and other unwanted effects, but foreseeable according to the principleof reality.
This is a case study on migration management in the United States of America, according to the New Political Economy approach. Attention is paid to how Latin American immigrants are treated, given the change in public policies and their economic perception. There has been a shift from open-door immigration policies to raids and massive deportations, violating the founding principles of the United States and the key to its growth and development, since immigrants are not only a greater productive factor of work, but also bring knowledge, technologies and institutions that improve the competitiveness. Faced with this change in public powers, civil society has reacted, with a revitalization of the Sanctuary Movement. This study uses an explanatory methodology on the evolution of the academic disciplines and approaches dedicated to the research on religion-economics-migration relations, to focus its attention on the case study of the Sanctuary Movement.
Este es un estudio neoinstitucionalista desde planteamientos de Economía Política Comparada, para comprender y evaluar la cuestión de género y sus efectos no deseados, como la paradoja del género. Resulta que cuánto más ha avanzado la regulación de género, en especial la inspirada por el feminismo trans (de construcción socio-cultural y sentimiento de autopercepción), parece haber disminuido el nivel de garantías jurídicas de la mujer cis (de base biológica y genética coincidente), además de causarse el efecto perverso de convertir la autonomía lograda en dependencia estatal. Se aborda aquí una presentación del problema, con una revisión histórica, comparada y de narrativas, aclarándose cómo el feminismo se ha impuesto, ocultando el sufragismo y otros movimientos de los derechos de la mujer. Se continúa con una refutación de falacias de género, desde el estudio de su producción en el mundo anglosajón y nórdico hasta su distribución desde ONU-Mujeres y la quinta generación derechos humanos, de género y etno-culturales. Finalmente, se centra la atención en un caso de trasplante de la materia, como es el caso español, evaluándose los “efectos no deseados” de su reciente regulación, además de probarse la paradoja citada. Se completa todo ello con unas conclusiones y futuras líneas de investigación.
Blockchains have enabled innovation in distributed economic institutions, such as money (e.g., cryptocurrencies) and markets (e.g., decentralised exchanges), but also innovations in distributed governance, such as decentralised autonomous organisations. These innovations have generated academic interest in studying web3 governance, but as yet there is no general theory of web3 governance. In this paper, we draw on the contrast between a ‘romantic view’ of governance (characterised by consensus through community voting) and the ‘exchange view’ of governance from public choice theory (characterised by an entrepreneurial process of bargaining and exchange of voters under uncertainty). Our analysis is the first to argue that the latter ‘exchange view’ of governance is best to understand the dynamics of governance innovation in web3, providing the foundations for a new general theory of governance in this frontier field. We apply the ‘exchange view’ of governance to three case studies (Curve, Lido and Metagov), exploring how these projects enable pseudonymous, composable and permissionless governance processes to reveal value. Our approach helps illuminate how this emergent polycentric governance process can generate robustness in decentralised systems.
“kura usulü” (sortition, by lot)
“tesadüfi seçim” (random selection)
“demarşi” (demarchy)
“aletorik demokrasi” (aleatoric democracy)
“stokastik usul” (stochastic method)
“stokastik demokrasi” (stochastic democracy)
“lotokrasi” (lottocracy)
This comprehensive and stimulating Handbook examines the contribution of political economy to public policy. It provides an overview of several strands of critical political economy, supported by case studies from OECD countries, Latin America, South Africa, and South and East Asia.
With discussions on key theories of political economy, the Handbook introduces cultural and feminist political economies, engaging critically with ordoliberalism and New Public Management.
Chapters feature discussions on political economic approaches to the global division of labor, financialization and dispossession in Latin America, ecological perspectives on sustainability in China, global exploitation chains in agriculture, and postcolonial criticisms of economic development. The Handbook concludes with an exploration of the relationship between political economy and social policy, global health, and public policies.
Ülkemizde 130'un üzerinde üniversitede (devlet + vakıf) hukuk
fakültesi bulunmakta, 190'ın üzerinde üniversitede ise iktisat eğitimi
sunan iktisat, işletme, iktisadi ve idari bilimler, siyasal bilgiler vb.
muhtelif isimlerde lisans ve lisans-üstü eğitim veren fakülte
bulunmaktadır.
Sayıları giderek artan söz konusu hukuk ve iktisat eğitimi sunan
fakültelerin müfredatında acaba “hukuk ve iktisat” (law and
economics) araştırma programlarına (hukukun iktisadi analizi,
kurallar ve kurumların iktisadi analizi, yeni kurumsal iktisat,
anayasal politik iktisat, mülkiyet hakları iktisadı, suç ve ceza iktisadı
vs.) yer verilmekte midir? Lisans ve lisans-üstü eğitim seviyelerinde
söz konusu araştırma programları ile ilgili dersler mevcut mudur?
Çalışmamızda bu konu ele alınıp değerlendirilecek ve muhtelif
fakültelerin müfredat programları incelenip eksiklikler ele
alınacaktır. Ayrıca, lisans ve lisans-üstü eğitime yönelik alternatif
müfredat önerilerimiz ve hukuk iktisat araştırma programına dair
İngilizce ve Türkçe kaynaklardan derlediğimiz kaynak niteliğinde
birer bibliyografya de sunulacaktır.
A tradition in political economy holds that constitutions should be designed under the assumption that politicians are knaves. A criticism of this position says that a constitution so designed will cause political actors to behave worse than they otherwise would. Designing a constitution for knaves creates knaves. I critique this argument in the current paper. I advance two claims. First, all constitutions create knaves, because the activity of politics itself creates knaves. Second, knavish constitutions better cultivate virtue when compared to constitutions that lack knavish constraints and guardrails. Put together, the two arguments imply the criticism has it exactly backwards: if you want virtuous politicians, design constitutions under the assumption that they are knaves.
The market requires more focus on responsibility and business ethics. This article discusses the vision of the business company as a responsible company with focus on good corporate citizenship as an expression of the limits of the market with regard to social responsibility and values of business organizations. This includes discussion of the challenges of business legitimacy in a global society. These must also be seen in the relation between economics and religion. Social, spiritual and cultural values lie behind the search for business legitimacy and the republican conception of corporate citizenship, and this is also an expression of ethical values at the limits of economic rationality. But cosmopolitan business ethics can be criticized for moralizing the market so we move from economic religion to moral economy forgetting the importance of economic rationality.KeywordsCorporate citizenshipSocial responsibilityBusiness legitimacyCosmopolitan business ethics
Although many economists, most notably Strotz, have discussed dynamic inconsistency and precommitment, none have dealt directly with the essence of the problem: self-control. This paper attempts to fill that gap by modeling man as an organization. The Strotz model is recast to include the control features missing in his formulation. The organizational analogy permits us to draw on the theory of agency. We thus relate the individual's control problems with those that exist in agency relationships.
Negli ultimi anni è emersa nell'ambito della teoria economica una nuova impostazione talmente diversa da quella tradizionale da far parlare di un « nuovo paradigma ». Caratteristica essenziale di questo nuovo orientamento è quella di consentire un awicinamento della teoria economica alia realtà.
Sono tre le componenti principali di quest'impostazione: l'aspetto istituzionale (meccanismi decisionali, organizzazioni - economiche, politiche e amministrative - leggi e norme), quello analitico (basato sul modello di comportamento individualistico dell'homo oeconomicus, ma modificato in modo da mettere in evidenza la base motivazionale delle preferenze individuali ed introducendo aspetti morali, come I'altruismo) e quello comparativo (basato sul confronto tra istituzioni diverse, nell'ipotesi che non soltanto l'organizzazione privata, ma anche quella pubblica, possa presentare inadeguatezze).
The term Constitutional Economics (Constitutional Political Economy) was introduced to define and to classify a distinct strand of research inquiry and related policy discourse in the 1970s and beyond. The subject matter is not new or novel, and it may be argued that ‘constitutional economics’ is more closely related to the work of Adam Smith and the classical economists than its modern ‘non-constitutional’ counterpart. Both areas of inquiry involve positive analysis that is ultimately aimed at contributing to the discussion of policy questions. The difference lies in the level of or setting for analysis which, in turn, implies communication with different audiences.
• Those who have done me the honor of reading my previous writings will probably receive no strong impression of novelty from the present volume; for the principles are those to which I have been working up during the greater part of my life, and most of the practical suggestions have been anticipated by others or by myself. There is novelty, however, in the fact of bringing them together, and exhibiting them in their connection, and also, I believe, in much that is brought forward in their support. Several of the opinions, at all events, if not new, are for the present as little likely to meet with general acceptance as if they were. It seems to me, however, from various indications, and from none more than the recent debates on Reform of Parliament, that both Conservatives and Liberals (if I may continue to call them what they still call themselves) have lost confidence in the political creeds which they nominally profess, while neither side appears to have made any progress in providing itself with a better. Yet such a better doctrine must be possible; not a mere compromise, by splitting the difference between the two, but something wider than either, which, in virtue of its superior comprehensiveness, might be adopted by either Liberal or Conservative without renouncing any thing which he really feels to be valuable in his own creed. When so many feel obscurely the want of such a doctrine, and so few even flatter themselves that they have attained it, any one may, without presumption, offer what his own thoughts, and the best that he knows of those of others, are able to contribute toward its formation. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
• Those who have done me the honor of reading my previous writings will probably receive no strong impression of novelty from the present volume; for the principles are those to which I have been working up during the greater part of my life, and most of the practical suggestions have been anticipated by others or by myself. There is novelty, however, in the fact of bringing them together, and exhibiting them in their connection, and also, I believe, in much that is brought forward in their support. Several of the opinions, at all events, if not new, are for the present as little likely to meet with general acceptance as if they were. It seems to me, however, from various indications, and from none more than the recent debates on Reform of Parliament, that both Conservatives and Liberals (if I may continue to call them what they still call themselves) have lost confidence in the political creeds which they nominally profess, while neither side appears to have made any progress in providing itself with a better. Yet such a better doctrine must be possible; not a mere compromise, by splitting the difference between the two, but something wider than either, which, in virtue of its superior comprehensiveness, might be adopted by either Liberal or Conservative without renouncing any thing which he really feels to be valuable in his own creed. When so many feel obscurely the want of such a doctrine, and so few even flatter themselves that they have attained it, any one may, without presumption, offer what his own thoughts, and the best that he knows of those of others, are able to contribute toward its formation. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
First published in 1973, this is a radical interpretation, offering a unified explanation for the growth of Western Europe between 900 A. D. and 1700, providing a general theoretical framework for institutional change geared to the general reader.
"The Limits of Liberty is concerned mainly with two topics. One is an attempt to construct a new contractarian theory of the state, and the other deals with its legitimate limits. The latter is a matter of great practical importance and is of no small significance from the standpoint of political philosophy."âScott Gordon, Journal of Political Economy James Buchanan offers a strikingly innovative approach to a pervasive problem of social philosophy. The problem is one of the classic paradoxes concerning man's freedom in society: in order to protect individual freedom, the state must restrict each person's right to act. Employing the techniques of modern economic analysis, Professor Buchanan reveals the conceptual basis of an individual's social rights by examining the evolution and development of these rights out of presocial conditions.
Second Treatise of Civil Government / John Locke Note: The University of Adelaide Library eBooks @ Adelaide.
The purpose of this paper is to present an impossibility result that seems to have some disturbing consequences for principles of social choice. A common objection to the method of majority decision is that it is illiberal. The argument takes the following form: Given other things in the society, if you prefer to have pink walls rather than white, then society should permit you to have this, even if a majority of the community would like to see your walls white. Similarly, whether you should sleep on your back or on your belly is a matter in which the society should permit you absolute freedom, even if a majority of the community is nosey enough to feel that you must sleep on your back. We formalize this concept of individual liberty in an extremely weak form and examine its consequences. Economics Version of Record
Politica Methodica digesta Cambridge The Reason of Rules. Cambridge: Cambridge Univer-sity PressConstitutional Economics The New Palgrave
- J Althusius
- G Brennan
- J Buchanan
Althusius, J. (1932) Politica Methodica digesta. (Ed. by C. J. Friedrich) Cambridge: Harvard University Press. Brennan, G. and Buchanan J. (1985) The Reason of Rules. Cambridge: Cambridge Univer-sity Press. Buchanan, J. (1987) "Constitutional Economics," The New Palgrave. London: Mac-millan.
Constitutional Economics Meditations on Quixote
- R Mckenzie
- Ortega
- J Gasset
McKenzie, R. (ed) (1984) Constitutional Economics. Lexington, MA: Lexington Books. Ortega y Gasset, J. (1961) Meditations on Quixote. New York: Norton. Sehelling, Th. (1978) "'Egonomics, or the Art of Self Management". American Economic Review 68: 290-294.
Politica Methodica digesta
- J Althusius
- J. Althusius
Meditations on Quixote
- J Ortega Y Gasset
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