New Thinking in Political Economy series
Edited by José Casas Pardo and Pedro Schwartz
José Casas Pardo and Pedro Schwartz This volume contains the papers presented at the international conference on ‘Public Choice and the Problems of Democracy’, organized by the Centre for Political Economy and Regulation, which took place in Madrid from 1–3 December 2005 at the University San Pablo CEU. At this conference, some of the most prestigious public choice scholars presented their analyses of the main threats faced by democracy at the beginning of the twenty-ﬁrst century and put forward some possible remedies, using the instruments and history of their lore. The 19 major chapters in this book cover issues ranging from general threats to a democratic way of life, to faulty institutional arrangements and defective voting rules that plague the political system, down to ﬁscal issues that aﬀect the governability of democratic nations. Public choice theory ﬁnds itself at present in a professional limbo. The Journal of Economic Literature subsumes it in microeconomics, or includes it in the theory of the ﬁrm, or notices it in regulation studies. The young see it as a mongrel of public choice theory and welfare economics and give it a wide berth. Others lump it with Austrian economics, implying an uncalled for disregard of both. It is too practical for today’s model mongers or too humdrum for reﬁned political philosophers. This is one reason why public choice scholars increasingly need to meet and publish the papers regularly presented at such venues as the annual meetings of the European Public Choice...