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Full Description
In this fully revised second edition of a well-regarded and popular text, Patrick McNutt presents more ideas and challenges to all those interested in political economy and public choice. The author evaluates a range of public choice concepts including rent-seeking, voting and voter behaviour, and the growth of government and bureaucracy. New material in this second edition includes:
the introduction of a moral choice set and a new methodology for the treatment of the concept of fairness
a positive theory of rent-seeking with empirical estimates
the issue of legal barriers to entry and related themes; in particular how a legal barrier can affect consumer welfare
a critical evaluation of the exchange and allocation of economic power and income inequality in developing countries
an overview of the global political economy which identifies the contribution of public choice.
Contents
Contents: Preface Preface to the Second Edition 1. An Overview 2. A Moral Public Choice Set 3. Social Choice and Voting 4. The Political Economy of Voting 5. The Growth of Government 6. Bureaucracy and Government Output 7. Classic Rent-seeking 8. Legal Barriers to Entry and Compensation 9. Economic Analysis of Clubs 10. The Anarchy of Legitimacy 11. The Conspiracy of Equality 12. Global Political Economy References Index
