The Political Economy of Historical Events

Franklin Mixon

Chapter 1 in Public Choice Economics and the Salem Witchcraft Hysteria, 2015, pp 1-20 from Palgrave Macmillan

Abstract: Abstract The opening chapter of the book recounts some of the earlier studies on the political economy of historical events. It is hoped that doing so will illuminate “the economic way of thinking” in approaching these widely varying topics for readers outside of the field of economics. Historical events included in this chapter range from the colonization of Australia during the 1700s and 1800s by British convicts to the rout of George Custer’s forces at the Little Bighorn. The economics principles covered in this chapter include the divergence between public economic interests and private economic interests, Alchian and Allen’s relative price effect, price controls (ceilings), the modern theory of bureaucracy and the public choice economics principle of vote maximization.

Keywords: Historical Event; Relative Price; Electoral College; Popular Vote; Price Ceiling (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-50635-1_1

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DOI: 10.1057/9781137506351_1

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