Austrian Economics and Public Choice

Austrian Economics and Public Choice The Review of Austrian Economics, 15:2/3, 111–119, 2002. c 2002 Kluwer Academic Publishers. Manufactured in The Netherlands. PETER J. BOETTKE James M. Buchanan Center for Political Economy, George Mason University EDWARD J. LOPEZ Department of Economics, University of North Texas Abstract. In this introduction, we will first discuss the methodological affinities between the market process and public choice approaches to political economy, and then suggest that because of these affinities market process scholars should feel at home using public choice analysis to study politics, and public choice scholars should feel at home using market process analysis to study the economy. In a fundamental sense, public choice theory refers to the application of the economic way of thinking to study the political process. The economic way of thinking deals with individual decision-making, and exchange relationships in a variety of social settings. Mises is arguably the first scholar to champion a unification of the social sciences by way of a common rational choice model. And, Hayek should be recognized as one of the forerunners of the economics of politics with his The Road to Serfdom (1945) and constitutional political economy with his The Constitution of Liberty (1960). Furthermore, Buchanan and Tullock’s http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Austrian Economics and Public Choice

Loading next page...
 
/lp/springer_journal/austrian-economics-and-public-choice-pH6Q3vu0wS
Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2002 by Kluwer Academic Publishers
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1023/A:1015783818167
Publisher site
See Article on Publisher Site

Abstract

The Review of Austrian Economics, 15:2/3, 111–119, 2002. c 2002 Kluwer Academic Publishers. Manufactured in The Netherlands. PETER J. BOETTKE James M. Buchanan Center for Political Economy, George Mason University EDWARD J. LOPEZ Department of Economics, University of North Texas Abstract. In this introduction, we will first discuss the methodological affinities between the market process and public choice approaches to political economy, and then suggest that because of these affinities market process scholars should feel at home using public choice analysis to study politics, and public choice scholars should feel at home using market process analysis to study the economy. In a fundamental sense, public choice theory refers to the application of the economic way of thinking to study the political process. The economic way of thinking deals with individual decision-making, and exchange relationships in a variety of social settings. Mises is arguably the first scholar to champion a unification of the social sciences by way of a common rational choice model. And, Hayek should be recognized as one of the forerunners of the economics of politics with his The Road to Serfdom (1945) and constitutional political economy with his The Constitution of Liberty (1960). Furthermore, Buchanan and Tullock’s

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 18, 2004

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 12 million articles from more than
10,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Unlimited reading

Read as many articles as you need. Full articles with original layout, charts and figures. Read online, from anywhere.

Stay up to date

Keep up with your field with Personalized Recommendations and Follow Journals to get automatic updates.

Organize your research

It’s easy to organize your research with our built-in tools.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve Freelancer

DeepDyve Pro

Price
FREE
$49/month

$360/year
Save searches from Google Scholar, PubMed
Create lists to organize your research
Export lists, citations
Read DeepDyve articles
Abstract access only
Unlimited access to over
18 million full-text articles
Print
20 pages/month
PDF Discount
20% off