James M. Buchanan and Liberal Political Economy: A Rational Reconstruction examines the contemporary meaning and significance of James M. Buchanan’s body of work. The book uses Buchanan’s past contributions to explore the present and future relevance of his scholarly contributions and insights. It seeks mainly to explain what insight for their work contemporary scholars might acquire by becoming familiar with some of Buchanan’s formulations. Buchanan was one of the most creative and prolific scholars of political economy during the post-war period. Not only was his body of work so immense that it could not be contained within 20 volumes of Collected Works, but also Buchanan’s scholarship made such strong contact with law, ethics, and political science that he could easily have served as a poster-child for the programs in Politics, Philosophy, and Economics which have been gaining momentum in recent years. Buchanan spoke for a style of economics that made wide and firm contact with the full range of the humane studies. This book emphasizes those features of Buchanan’s thought that seem relevant for contemporary scholarship within the broadly liberal tradition of political economy.
In this far-reaching and insightful monograph, Richard Wagner exposes the failure of the United States constitution to overcome the tyranny of the majority so feared by the Founding Fathers. A written constitution is enforceable mainly through the construction of a self-supporting balance of private interests. Using this insight, Professor Wagner suggests a balance between the principles of good constitutional order and the impulse of self-interest necessary for the preservation of the rights to life, liberty and property. He concludes his analysis with an assessment of the prospects of converting the rent seeking state into an entrepreneurial state self-interestedly committed to classical liberal principles of constitutional order. The author clearly demonstrates why the tyranny of the majority cannot be prevented by a written constitution unless the institutions of society are designed to offer complementary support to limited government and the rule of law. Parchment, Guns and Constitutional Order offers a solution designed to harness the political process to that objective.
This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing.
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This book examines macroeconomic theory from an analytical framework provided by theories of complex systems, in contrast to conventional theories founded on aggregation. The resulting difference in analytical perspectives is huge: the macro level of society is not pursued through aggregation over micro entities. To the contrary, the micro-macro relation is treated as one of parts-to-whole, and this relation is approached from within an ecological scheme of thought. A society is a complex ecology of plans. That ecology, however, is not reducible to a single plan. Conventional macro theory presents a national economy as a collection of such aggregate variables as output, employment, investment, and a price level, and seeks to develop theoretical relationships among those variables. In contrast, the social-theoretic approach to macro or social theory in this book treats the standard macro variables as having been shaped through social institutions, conventions, and processes that in turn are generated through interaction among economizing persons. The object denoted as macro is thus of a higher order of complexity than the object denoted as micro.
James M. Buchanan and Liberal Political Economy: A Rational Reconstruction examines the contemporary meaning and significance of James M. Buchanan’s body of work. The book uses Buchanan’s past contributions to explore the present and future relevance of his scholarly contributions and insights. It seeks mainly to explain what insight for their work contemporary scholars might acquire by becoming familiar with some of Buchanan’s formulations. Buchanan was one of the most creative and prolific scholars of political economy during the post-war period. Not only was his body of work so immense that it could not be contained within 20 volumes of Collected Works, but also Buchanan’s scholarship made such strong contact with law, ethics, and political science that he could easily have served as a poster-child for the programs in Politics, Philosophy, and Economics which have been gaining momentum in recent years. Buchanan spoke for a style of economics that made wide and firm contact with the full range of the humane studies. This book emphasizes those features of Buchanan’s thought that seem relevant for contemporary scholarship within the broadly liberal tradition of political economy.
This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing.
This impressive compilation offers a nearly complete listing of sound recordings made by American minority artists prior to mid-1942. Organized by national group or language, the seven-volume set cites primary and secondary titles, composers, participating artists, instrumentation, date and place of recording, master and release numbers, and reissues in all formats. Because of its clear arrangements and indexes, it will be a unique and valuable tool for music and ethnic historians, folklorists, and others.
Economists typically treat government as something outside the business realm, a sort of “Lord of the Manor”. Richard Wagner argues that this is the wrong approach and can ultimately be destructive to capitalism and to society. Modern governments are a peculiar form of business enterprise. They face the same problems as regular businesses, such as ascertaining demand and organizing production, and act within the system in a way that can lead to a parasitical relationship with the market. Largely rooted in political economy, this book develops new theoretical ideas and formulations to explain why democracy is a difficult form of government to maintain. The author explores how and why limited governments can morph into a system of destructive politics, and looks at ways to escape this process. This dynamic book will be useful for public choice scholars, economists, political scientists, and lawyers who are interested in political economy in its various guises.
Economics originated as a branch of the humane studies that was concerned with trying to understand how some societies flourish while others stagnate, and also how once-flourishing societies could come to stagnate. Over the major part of the 20th century, however, economists mostly turned away from these humane and societal concerns by importing mechanistic ideas from 19th century physics. This book seeks to show how that original humane and social focus can be renewed. The many particular topics the book examines can be traced to two central ideas. Firstly, that economic theory, like physics, requires two distinct theoretical frameworks. One treats qualities that are invariant across time and place; this is the domain of equilibrium theory. The other treats the internal generation of change in societies through entrepreneurial action that continually transforms the ecology of enterprises that constitutes a society. Secondly, economic theory is treated as a genuine social science and not a science of rationality writ large. The book also explores ways in which life in society is understood differently once economics is treated as a social science. The book is much of the hyper-formality that comprises economic theory these days fails to make reasonable contact with reality. It will be of interest to sociologists, political scientists, and researchers in law, public policy, Austrian economics, evolutionary economics, institutional economics and political economy.
This advanced text for psychology, human development, and education provides students with state-of-the-art overviews of the discipline in an accessible, affordable format. Unique both in the depth of its coverage and in the timeliness of the research that it presents, this comprehensive text conveys the field of child and adolescent development through the voices of scientists who themselves are now shaping the field.
Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.
Economists commit a category mistake when they treat democratic governments as indebted. Monarchs can be indebted, as can individuals. In contrast, democracies can't truly be indebted. They are financial intermediaries that form a bridge between what are often willing borrowers and forced lenders. The language of public debt is an ideological language that promotes politically expressed desires and is not a scientific language that clarifies the practice of public finance. Economists have gone astray by assuming that a government is just another person whose impulses toward prudent action will restrict recourse to public debt and induce rational political action.
Rejecting conventional approaches, the author offers a view of public finance as one element of a broader scheme of social theorizing. The book assumes a working knowledge of the standard conceptual framework within which the theory of public finance is commonly presented.
Cigarettes are under political attack at all_levels of government in the United States. From Washington, D. C. to state capitals to local govern ments, proposals abound to increase the cigarette excise tax, to impose smoking bans, to prevent cigarette advertising, to restrict the sale of cigarettes through vending machines, to cut off the export of cigarettes, to earmark the cigarette excise tax for health programs, to divest the stock of cigarette companies, and so on. And all of these are purportedly being advocated in the name of health. Undergirding and abetting the health argument is an economic argument that claims to place a value of up to $100 billion per year on the alleged health costs of smoking to the American economy, which is more than $3 per pack of cigarettes smoked. As our title suggests, our interest lies in the economics of smoking and not in the health issues surrounding smoking. We are professional economists and not medical scientists. We will focus on what, if any, economic consequences arise for nonsmokers when smokers smoke. For purposes of our discussion, we simply accept the premise that smoking damages health and proceed with our analysis. Since we have not studied the issue ourselves, we have no way of knowing whether such a premise is true. But it really does not matter for getting the economics of smoking right. The important point resides in who pays for whatever to smoking.
Taking an innovative look at the origins of economics, this forward-thinking book relocates economics from a materialistic general theory of rational action into an idealistic theory of social organization and individual action. Adding new insightful analytical methods such as complexity theory, graph theory and computational modelling to the original insights of the Scottish Enlightenment, Richard E. Wagner explores economics in an ever-changing society, looking at the key civilizing processes and the important social questions.
Originally published in 1991, user charges and earmarked taxes are methods by which people pay directly for the services they recieve from government. As such they are frequently supported by those who oppose increased taxation, who argue that they are more like market transactions than traditional forms of taxation. This book explores the cogency of these arguments in the light of public choice analyses of political processes.
PULITZER PRIZE WINNER • No book before this one has rendered the story of cigarettes—mankind's most common self-destructive instrument and its most profitable consumer product—with such sweep and enlivening detail. "A great battleship of a book—formidable, majestic.”—The New York Times Book Review Here for the first time, in a story full of the complexities and contradictions of human nature, all the strands of the historical process—financial, social, psychological, medical, political, and legal—are woven together in a riveting narrative. The key characters are the top corporate executives, public health investigators, and antismoking activists who have clashed ever more stridently as Americans debate whether smoking should be closely regulated as a major health menace. We see tobacco spread rapidly from its aboriginal sources in the New World 500 years ago, as it becomes increasingly viewed by some as sinful and some as alluring, and by government as a windfall source of tax revenue. With the arrival of the cigarette in the late-nineteenth century, smoking changes from a luxury and occasional pastime to an everyday—to some, indispensable—habit, aided markedly by the exuberance of the tobacco huskers. This free-enterprise success saga grows shadowed, from the middle of this century, as science begins to understand the cigarette's toxicity. Ironically the more detailed and persuasive the findings by medical investigators, the more cigarette makers prosper by seeming to modify their product with filters and reduced dosages of tar and nicotine. We see the tobacco manufacturers come under intensifying assault as a rogue industry for knowingly and callously plying their hazardous wares while insisting that the health charges against them (a) remain unproven, and (b) are universally understood, so smokers indulge at their own risk. Among the eye-opening disclosures here: outrageous pseudo-scientific claims made for cigarettes throughout the '30s and '40s, and the story of how the tobacco industry and the National Cancer Institute spent millions to develop a "safer" cigarette that was never brought to market. Dealing with an emotional subject that has generated more heat than light, this book is a dispassionate tour de force that examines the nature of the companies' culpability, the complicity of society as a whole, and the shaky moral ground claimed by smokers who are now demanding recompense.
Redefining the way we think about unemployment in America today, Out of Work offers devastating evidence that the major cause of high unemployment in the United States is the government itself. An Independent Institute Book
Today, multidisciplinary approaches to treatment are at the heart of cancer care. They offer improved clinical outcomes, new possibilities in patient quality of life, and enable the development of true innovation in individualized treatment. To accurately reflect this modern day approach to cancer care, the content of the 6th edition of Principles and Practice of Gynecologic Oncology was written entirely by surgeons, medical oncologists, radiation oncologists, and pathologists. New to the editorial team, Dr. Andrew Berchuck has made significant contributions to the understanding of the molecular pathogenesis of ovarian and endometrial cancer in the book’s content. Every chapter of this book has been either completely rewritten or extensively updated to ensure that everyone involved in treating women with gynecologic cancer will have the most comprehensive and up-to-date information on the subject.
Innovative in its approach, Rethinking Public Choice reviews the concept of public choice since the 1950s post-war period and the application of economics to political practices and institutions, as well as its evolution in recent years attracting contributions from political science and philosophy.
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