The constitution

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Chapter 11 in Aristotle’s Economics, 2024, pp 139-155 from Edward Elgar Publishing

Abstract: Even wise leaders must be bound by the minimax limitations of multi-period rule-making rules. These rules mirror the social consensus, even to the extent of Wicksellian unanimity that figures so prominently in Buchanan’s political economy. Politics is not a thing apart. Virtue and happiness can be put at risk by irresponsible despots and the Burkean mob. Aristotle, based on his empirical studies, identifies six principal types of constitution. Three are healthy: kingship, the aristocracy of talent and a mix that combines aptitude with consultation. Three are unhealthy: tyranny, the oligarchy of wealth and democracy. Each reflects not just social values but the economic base, acquisitiveness and the (frequently corrupting) influence of money.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2024
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