The foundations of contemporary economics: Gordon Tullock and public choice

Henrik Egbert () and Teodor Sedlarski

Economic Thought journal, 2020, issue 1, 107-118

Abstract: A briefly summary is given of the path-breaking ideas of Gordon Tullock (1922-2014). Tullock can be considered one of the founders of public choice. He initiated a new way of thinking and applied rational choice theory to the political and juridical system. His ideas of rent-seeking behavior, majority voting, bureaucratic inefficiency, constitutional design, and the transfer of the public good problem to political decisions have become cornerstones of economic thought.

Date: 2020
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