Why do elected officials often suffer from political paralysis and fail to implement the best policies available? This paper considers a new yet intuitive explanation that focuses on the quality of the politicians competing to replace the incumbent. The key insight is that a 'good' incumbent...

Why do elected officials often suffer from political paralysis and fail to implement the best policies available? This paper considers a new yet intuitive explanation that focuses on the quality of the politicians competing to replace the incumbent. The key insight is that a `good' incumbent...

Part 1. Political Economy and Constitutional Order -- 1. The Domain of Constitutional Political Economy -- 2. On the Structure of an Economy: A Reemphasis of some Classical Foundations -- 3. The Economy as a Constitutional Order -- 4. The Justification of the Compound Republic: A Retrospective...