This timely and provocative book challenges the conventional wisdom that neoliberal capitalism is incompatible with social justice. Employing public choice and market process theory, Nick Cowen systematically compares and contrasts capitalism with socialist alternatives, illustrating how proponents of social justice have decisive reasons to opt for a capitalism guided by neoliberal ideas.
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Demos and Agora
This original and insightful book considers the ways in which public law, which emphasises legality (the Demos), and economics, a science oriented towards the markets (the Agora), intertwine. Throughout, George Dellis argues that the concepts of legality and efficiency should not be perceived separately.
Nadia E. Nedzel
Grounded in history and written by a law professor, this book is a scholarly yet jargon-free explanation of the differences between the common and civil law concepts of the rule of law, and details how they developed out of two different cultural views of the relationships between law, individuals, and government. The author shows how those differences lead to differences in economic development, entrepreneurship, and corporate governance.
Viktor J. Vanberg
This important research review discusses some of the most celebrated and classical literature in the field of choice and economic welfare. It analyses material exploring how economics as a scientific enterprise may inform political decision-making. A premise that is explored paradigmatically through different interpretations including utility-individualism in the context of welfare economics, preference-individualism in social choice theory, and choice-individualism in constitutional economics. The review covers the subject’s founding literature as well as the more contemporary pieces, which have sparked further discussion in the field. This review promises to be valuable to researchers and scholars alike as well as to those gravitating towards this fascinating topic.
Trent J. MacDonald
Territorial political organisation forms the backbone of western liberal democracies. However, political economists are increasingly aware of how this form of government neglects the preferences of citizens, resulting in dramatic conflicts. The Political Economy of Non-Territorial Exit explores the theoretical possibility of ‘unbundling’ government functions and decentralising territorial governance.
Edited by Giuseppe Eusepi and Richard E. Wagner
The original chapters in this book connect the microeconomic and macroeconomic approaches to public debt. Through their thought-provoking views, leading scholars offer insights into the incentives that individuals and governments may have in resorting to public debt, thereby promoting a clearer understanding of its economic consequences.
Using Foreign Aid to Delegate Global Security
Jean-Paul Azam and Véronique Thelen
This book offers a unique and insightful econometric evaluation of the policies used to fight transnational terrorism between 1990 and 2014 using a sample of 124 countries. It proves that foreign aid plays a crucial role by inducing recipient governments to protect the donors’ political and economic interests within their sphere of influence. In contrast, US troops on the ground are counter-productive as they increase the supply of terrorist attacks from the host countries, even though this effect has been significantly reduced by the Obama administration.
An Illusion of Democratic Political Economy
Giuseppe Eusepi and Richard E. Wagner
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.
Three Centuries of Theory and Evidence
Richard M. Salsman
How have the most influential political economists of the past three centuries theorized about sovereign borrowing and shaped its now widespread use? That important question receives a comprehensive answer in this original work, featuring careful textual analysis and illuminating exhibits of public debt empirics since 1700. Beyond its value as a definitive, authoritative history of thought on public debt, this book rehabilitates and reintroduces a realist perspective into a contemporary debate now heavily dominated by pessimists and optimists alike.
Insights from a Theory of Entangled Political Economy
Richard E. Wagner
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.