The Virginia School's economics of natural equals makes consent critical for policy. Democracy is understood as government by discussion, not majority rule. The claim of efficiency unsupported by consent, as common in orthodox economics, appeals to social hierarchy. Politics becomes an act of...

This book offers a pluralistic vision of the way economists have dealt with the question of power in society over the last two centuries. Economists’ ideas about power are examined from political, theoretical and policy-making points of view, with additional discussion of the active...

What do the economic theories of thought-leaders in economics, such as Smith, Keynes, Marx and Schumpeter, tell us about globalisation in the twenty-first century? Great economic theories have provided a narrative of how society should work in all its aspects, and can offer renewed usefulness...

Introduction -- Chapter 1: The Impact of The Calculus of Consent -- Chapter 2: Institutions and Constitutions: The Economic World of James M. Buchanan -- Chapter 3: On Some Neglected, But Profound, Contributions of Gordon Tullock -- Chapter 4: Buchanan on Freedom -- Chapter 5: Choice vs...