Journal ArticleDOI
An Economic Theory of Political Action in a Democracy
Reads0
Chats0
TLDR
For example, this article argued that the private sector is a self-regulating mechanism and that any government action beyond maintenance of law and order is "interference" with it rather than an intrinsic part of it.Abstract:
IN SPITE of the tremendous importance of government decisions in every phase of economic life, economic theorists have never successfully integrated government with private decision-makers in a single general equilibrium theory. Instead they have treated government action as an exogenous variable, determined by political considerations that lie outside the purview of economics. This view is really a carry-over from the classical premise that the private sector is a self-regulating mechanism and that any government action beyond maintenance of law and order is "interference" with it rather than an intrinsic part of it.2 However, in at least two fields of economic theory, the centrality of government action has forced economists to formulate rules that indicate how government "should" make decisions. Thus in the field of public finance, Hugh Dalton states:read more
Citations
More filters
Book
Business and Public Policy: Responses to Environmental and Social Protection Processes
TL;DR: Rivera et al. as mentioned in this paper presented a theoretical framework for understanding the relationship between protection public policies and business compliance, which explained different levels of business compliance in terms of three different factors: the link between the stages of protective public policies, the effect of country context, and the impact of firm-level characteristics.
Journal ArticleDOI
Social protection and political competition
TL;DR: In this paper, the authors analyzed how the level of social protection is determined when its choice depends on political competition and showed that social protection never increases under international competition and, in several circumstances, drastically decreases.
Book
State Crisis in Fragile Democracies: Polarization and Political Regimes in South America
TL;DR: This article examined how the occurrence of state crises and the inherited strength of left wing political actors combined to push countries onto distinct party system trajectories characterized by different kinds of left parties and movements, highly variant levels of polarization, and ultimately divergent political regime dynamics.
Journal ArticleDOI
Culture and the Regulation of Entry
TL;DR: This paper found that more individualistic countries regulate entry more lightly and that culture influences social preference for regulation, and political and legal institutions determine the degree to which those preferences are expressed as policy outcomes.
Journal ArticleDOI
Determinants of governmental redistribution: Income distribution, development levels, and the role of perceptions
Klaus Gründler,Sebastian Köllner +1 more
TL;DR: The authors empirically investigate the relationship between income inequality and redistribution, accounting for the shape of the income distribution, different development levels, and subjective perceptions, and find that the Meltzer-Richard effect is less pronounced in developing economies with less sophisticated political rights.