A new edition of this classic introduction to public choice theory
The application of the ‘economic theory of politics’ effectively undermines the market failure approach to government policy-making, which relies on the assumption that benevolent and far-sighted governments are capable of clearing up the failings of private markets.
This new edition includes a reflection by Gordon Tullock and commentaries by Peter Kurrild-Klitgaard, Charles K. Rowley, Stefan Voigt and Michael C. Munger. These contributions consider the impact of the original publication of The Vote Motive in 1976. Thirty-years later, with public-sector bureaucracies retaining substantial control over large swathes of the economy, it is clear that policy-makers still have much to learn from Tullock’s seminal work.
2006, ISBN 978 0 255 36577 2, 148pp, PB