In constitutional political economy, the citizens' constitutional interests determine the social contract that is binding for the post-constitutional market game. However, following traditional preference subjectivism, it is left open what the constitutional interest are. Using the example of...

Elevated levels of government debt raise concerns about their effects on long-term growth prospects. Using the cross section of US stock returns, we show that (i) high-R&D firms are more exposed to government debt and pay higher expected returns than low-R&D firms; and (ii) higher levels of the...

Dieser Beitrag skizziert eine "conceptual history" der modernen Gesellschaft. Er unterscheidet eine malthusianische Stagnationsphase und eine postmalthusianische Wachstumsphase der Weltwirtschaftsgeschichte und entwickelt anhand eines Modells zur Interdependenz wirtschaftlicher und politischer...

This chapter examines the nature of colonial constitutionalism and the traditions that shaped the colonial founding; it also discusses the extent to which federalism was understood by the American founders as a modern innovation to secure republicanism