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From Classical Liberalism to Democratic Optimism : James M. Buchanan and Elinor Ostrom
Johnson, Marianne - 2022
This year marks the sixtieth anniversary of the book that established the field of public choice – The Calculus of Consent by James M. Buchanan and Gordon Tullock. The year is also the thirtieth anniversary of Elinor Ostrom’s “Covenants With and Without a Sword,” in which she...
Persistent link: https://www.econbiz.de/10013294171
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Independent Institutions and the Normative Concept of Pluralistic Liberal Democracy : A Brief
Leitão Amaro, António - 2023
credentials and legitimacy. The normative appraisal depends on the conception of democracy adopted. While critics frequently … espouse a majoritarian conception, this paper argues that it is too thin of a model of democracy. Alternatively, it argues … that a pluralistic conception of liberal democracy is thicker, and truer to the fundamental values of liberty and political …
Persistent link: https://www.econbiz.de/10014346566
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Restraining the genuine homo economicus : why the economy cannot be divorced from its governance
Skaperdas, Stergios - 2003
The Homo economicus of traditional economics is far from being completely self-interested, rational, or as individualistic as he is purported to be; he will haggle to death over price but will not take what he wants by force. Implicitly, he is assumed to behave ruthlessly within a welldefined...
Persistent link: https://www.econbiz.de/10011507656
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Libertarian Paternalism, Information Sharing, and Financial Decision-Making
Carlin, Bruce I. - 2010
We develop a theoretical model to study the welfare effects of libertarian paternalism on information acquisition, social learning, and financial decision-making. Individuals in our model are permitted to appreciate and use the information content in the default options set by a social planner....
Persistent link: https://www.econbiz.de/10013146853
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God does not play dice, but people should : random selection in politics, science and society
Frey, Bruno S.; Steiner, Lasse - 2014
This paper discusses and proposes random selection as a component in decision-making in society. Random procedures have played a significant role in history, especially in classical Greece and the medieval city-states of Italy. We examine the important positive features of decisions by random...
Persistent link: https://www.econbiz.de/10010359999
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Fairness and the unselfish demand for redistribution by taxpayers and welfare recipients
Sabatini, Fabio; Ventura, Marco; Yamamura, Eiji; … - 2017
We illustrate how the desire to live in a fair society that rewards individual effort and hard work triggers an unselfish though rational demand for redistribution. This leads the well off to prefer higher taxes and the poor to reject extreme progressivity. We then provide evidence of these...
Persistent link: https://www.econbiz.de/10011785084
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The scapegoat of heterogeneity : how fragmentation influences political decisionmaking
Ahlfeld, Corinna - 2009
It is regularly stated that political fragmentation has negative effects on reforms leading to delays or even blockades. This connection is reflected in the ‘weak government hypothesis’ arguing that fragmented governments create higher budget deficits. Although the assumption seems logical,...
Persistent link: https://www.econbiz.de/10003867692
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Happy Voters
Liberini, Federica; Redoano, Michela; Proto, Eugenio - 2021
Motivated by recent interest and initiatives taken by several governments and international organizations to come up with indicators of well-being to inform policy makers, we test if subjective well-being measures (SWB) can be employed to study voting behaviour. Controlling for financial and...
Persistent link: https://www.econbiz.de/10013315574
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Democratic Redistribution and Rule of the Majority
Corneo, Giacomo - 2015
quality of democracy. However, there is a non-negligible share of democracies that implement a minority-backed amount of …
Persistent link: https://www.econbiz.de/10013030499
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Revisiting U. S. Public and Private Debt in April 2011
Blain, Bob - 2011
U.S. public and private debt is traced to the decision of the First Congress in 1790 to borrow the new nation's money supply. This established a debt imperative that requires debt to grow by compounding interest. When debt fails to grow enough, the economy goes into various degrees of recession....
Persistent link: https://www.econbiz.de/10013121370