Economic Politics by William R. Keech
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Economic Politics
By William R. Keech

Economic Politics

The Costs of Democracy

By (author) See other recent books by William R. Keech
Format: Hardback

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Economic Politics by William R. Keech

Book Description

This book raises and addresses questions about the consequences of democratic institutions for economic performance. Do institutions of accountability inside and outside government through periodic elections produce efficient results, or do they lead to the kind of accumulation of special privileges and protections from market competition that reduces efficiency and growth? Professor Keech suggests that there are modest and bearable costs of democratic procedures, comparable to the agency costs incurred whenever a principal delegates authority to an agent. Democracy, however, does not systematically cause inferior macroeconomic policy detrimental to a population's long-term welfare. Rather, there is a logical circularity among voter preferences, institutions, and economic and political outcomes. This accessible synthesis and sharp perspective will be highly useful for professionals, graduate students, and upper-level undergraduates aiming to understand the relationship between politics and economics.

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Book Details

ISBN: 9780521462068
ISBN-10: 0521462061
Format: Hardback
(228mm x 152mm x 19mm)
Pages: 256
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 24-Feb-1995
Country of Publication: United Kingdom

Other Editions...


Books By Author William R. Keech

Economic Politics in the United States by William R. Keech Economic Politics in the United States, Hardback (October 2013)

The book shows how and why democracy has worked well or badly as measured by US macroeconomic performance.

Economic Politics by William R. Keech Economic Politics, Paperback (February 1995)

This book raises and addresses questions about the consequences of democratic institutions for economic performance.

» View all books by William R. Keech

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Economic Politics in the United States by William R. Keech
Economic Politics in the United States by William R. Keech
Economic Politics by William R. Keech
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