Economics has always had two connected faces in its Western tradition. In Adam Smith's eighteenth century, as in John Stuart Mill's nineteenth, these might be described as the science of political economy and the art of economic governance. The former aimed to describe the workings of the...

So läuft es mit vielen Worten aus der Vitrine der schönen Werte. Da niemand sein Partikularinteressemit diesem selbst begründet, sondern mit dem Allgemeinen, Guten und von allen alslegitim Erachteten, unterliegen die Gutworte samt ihren Schöninhalten einem schnellen moralischenVerschleiß....

Generally, Democrats do not increase military spending, and Republicans do not raise welfare payments. Mostly, ruling politicians stick to the manifesto of their party. The current paper provides a theoretical explanation for this phenomenonthat does not assume politicians or voters to be...