Public Choice begins with the observation that in politics, as in economics, individuals and institutions compete for scarce resources and that, therefore, the same methods of analyses used by economists to explain the behaviour of consumers and producers might also serve well to explain the...

The paper dicusses the case of political business cycles in Hungary between 1990 and 2010.

We distinguish between (i) voting systems in which voters can rank candidates and (ii) those in which they can grade candidates, such as approval voting, in which voters can give two grades—approve (1) or not approve (0)—to candidates. While two grades rule out a discrepancy between the...

In late April 2013, Jim O’Neill retired as chairman of Goldman Sachs (GS). The 56-year-old British economist, among other accomplishments, left his mark on the still unfolding globalization story by coining the acronym BRIC, referring to the four rapidly developing nations—Brazil, Russia,...