Inclusiveness, Growth, and Political Support
Richard Carson ()
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Richard Carson: Carleton University
Eastern Economic Journal, 2020, vol. 46, issue 4, No 2, 557-575
Abstract This paper links political support to economic growth. Governments gain support from wealth creation and income redistribution, and the quest for support links differences in economic systems to differences in political systems; inefficiencies persist when they raise support. Depending on how a government obtains it, the quest for support can either lower efficiency and raise the consumption cost of growth or lead to inclusiveness, efficiency, and sustainable growth, a kind of ‘political invisible hand.’ If they do not already exist, however, the incentive to adopt the institutions needed to make this invisible hand work well is likely to be low.
Keywords: Growth; Efficiency; Inclusiveness; Political advantage; Rent seeking (search for similar items in EconPapers)
JEL-codes: D72 O40 P59 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pal:easeco:v:46:y:2020:i:4:d:10.1057_s41302-020-00171-7
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