What is the place of political parties within a democratic system of political economy? Parties are often described as intermediaries that lubricate the political process by facilitating the matching of voter preferences with candidate positions. This line of analysis flows from a bi-planar...

Traditional public choice analysis implicitly views political outcomes as the intention of a single-minded person. This view is seriously misguided. Rather than viewing politics as being done by one person or a group of persons acting in concert, this paper presents an Austrian economist's...