Public Choice Interpretations of American Economic History is popular PDF and ePub book, written by Jac. C. Heckelman in 2012-12-06, it is a fantastic choice for those who relish reading online the Political Science genre. Let's immerse ourselves in this engaging Political Science book by exploring the summary and details provided below. Remember, Public Choice Interpretations of American Economic History can be Read Online from any device for your convenience.
Public Choice Interpretations of American Economic History Book PDF Summary
Jac C. Heckelman, John C. Moorhouse and Robert Whaples The eight chapters of this volume are revised versions of papers originally presented at the "Applications of Public Choice Theory to Economic History" conference held at Wake Forest University, April 9-10, 1999. They all apply the tools of public choice theory to the types of questions which economic historians have traditionally addressed. By adding the insights of public choice economics to the traditional tools used to understand economic actors and institutions, the authors are able to provide fresh insights about many important issues of American history. 1. DEVELOPMENTS IN PUBLIC CHOICE THEORY Economists have historically sought to develop policies to improve social welfare by correcting perceived market failures due to monopoly power, externalities, and other departures from the textbook case of the purely competitive model. An underlying assumption is that the public sector, upon recognizing the market failure, will act to correct it. Applied work often develops the conditions under which these policies will be optimal. The public choice movement has questioned the false dichotomy established by welfare economists. Economists of all persuasions assume traditional private market actors, such as entrepreneurs, managers, and consumers, are self-interested rational maximizers. Why should this not hold for all economic agents? The innovation of public choice analysis is to show what happens when public sector actors, such as politicians, bureaucrats, and voters, also behave as rational self-interested maximizers.
Detail Book of Public Choice Interpretations of American Economic History PDF
- Author : Jac. C. Heckelman
- Release : 06 December 2012
- Publisher : Springer Science & Business Media
- ISBN : 9781461545736
- Genre : Political Science
- Total Page : 263 pages
- Language : English
- PDF File Size : 17,8 Mb
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