This article examines the paradox that a supermajority rule in a legislature promotes excessive government spending. We propose a simple conjecture: If rent-seeking coalitions dominate legislative politics and if individual legislators' demands for rent-seeking activities are price-inelastic, a...

In the authors' political equilibrium model, regulation is considered an implicit and regressive tax-equivalent alternative to the common and less regressive fiscal alternatives: income, property, and sales taxes. The authors hypothesize that in more heterogeneous jurisdictions the state relies...

James M. Buchanan’s contributions to public finance and political economy are surveyed in six areas: (1) debt, fiscal illusion, and Keynesian criticisms; (2) London School of Economics cost approach; (3) methodological individualism and the economics of politics; (4) welfare price theory;...

Contents: 1. Introduction: The Impending Media Revolution in Video Technology and its Impacts on Today's and Tomorrow's Media Industries -- 2. The Past Generations of TV Technology -- 3. Technology Innovation: Hardware -- 4. Infrastructure Platforms and Data Operations -- 5. Video Platforms --...

Contents: 1. Introduction: The Impending Revolution in Video Technology and its Impact on Media Content and Regulation -- 2. The Three Generations of TV -- 3. The Dynamics of Content -- 4. New-Style Content -- 5. Market Power in Cloud Video -- 6. Societal Impacts -- 7. Regulating Online Video...