Economic politics
the costs of democracy
by William R. Keech
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 desired results? Do they lead to manipulation of the economy over an electoral cycle, or to the pursuit of partisan goals at odds with a general societal interest?
Drawing upon concrete and observable experience in the United States and occasional reference to other countries, Professor Keech suggests that there are costs of democratic procedures. But these costs are modest and bearable, and similar to the agency costs incurred whenever a principal delegates authority to an agent. Democracy does not systematically cause inferior macroeconomic policy.
This inaccessible synthesis and sharp perspective on a large topical literature will be highly useful for professionals, graduate students, upper-level undergraduates, and interested citizens aiming to understand the relationship between politics and economics.
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Previews available in: English
| Edition | Availability |
|---|---|
1
Economic Politics: The Costs of Democracy
2012, Cambridge University Press
in English
051160937X 9780511609374
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2
Economic politics: the costs of democracy
1995, Cambridge University Press
in English
0521462061 9780521462068
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Book Details
Edition Notes
Errata slip inserted.
Includes bibliographical references (p. 223-236) and index.
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