Constitutional political economy

Georg Vanberg

Chapter 24 in Elgar Encyclopedia of Public Choice, 2025, pp 167-174 from Edward Elgar Publishing

Abstract: This chapter provides an overview of the constitutional political economy (CPE) paradigm, typically associated with Nobel laureate James Buchanan and the Virginia School of Economics. Central to this paradigm is the notion of “politics as exchange,” which places emphasis on the potential for individuals to come to common agreement on the set of rules that structure social, economic, and political life. The chapter introduces the analytical approach of CPE, sketches some of its limitations, and highlights questions that remain open within this research tradition.

Keywords: Constitutional political economy; Constitutions; Public choice; Institutions (search for similar items in EconPapers)
Date: 2025
ISBN: 9781802207743
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