James Buchanan and the Economics of Constitutions

Andrea Villani ()
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Andrea Villani: Dipartimento di Economia Internazionale, delle Istituzioni e dello Sviluppo, Universita` Cattolica del Sacro Cuore, Milano

Rivista Internazionale di Scienze Sociali, 2013, vol. 121, issue 1, 111-134

Abstract: One of the most important debates in today’s economic policy is between Neo-Liberals supporters of free market and Neo-Keynesians supporting the fundamental relevance of public action. In this paper the James M. Buchanan’s role among the masters of neo-liberal politics is underlined. In his approach, market and political process founded on the exchange are considered good in themselves, and at the basis of the rationality of choice not only for the individual behaviour but also for public choices is set the individual, in a contractarian-constitutionalist perspective. Particularly Buchanan’s contributions in the economics of politics, and his role in the debate about justice are analysed and discussed here.

Keywords: Economic Policy; Public Choice Perspective; Politics as Process; Social Contract and Constitution; Justice (search for similar items in EconPapers)
JEL-codes: B29 B41 (search for similar items in EconPapers)
Date: 2013
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