Mises’ democracy–dictatorship equivalence theorem: A critique

Mises’ democracy–dictatorship equivalence theorem: A critique Ludwig von Mises argues that public opinion, not the form of government, is the ultimate determinant of policy. The implication is that, holding public opinion constant, democracies and dictatorships will have the same policies—a result I call Mises’ Democracy–Dictatorship Equivalence Theorem. According to Mises, dictators have to comply with public opinion or else they will be overthrown. I argue that he seriously overestimates the power of revolution to discipline dictators. Mises was perceptive to note that, in practice, “dictatorially imposed” policies are often democratically sustainable, but he neglected several mechanisms—all more plausible than the threat of revolution—capable of explaining this fact. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Mises’ democracy–dictatorship equivalence theorem: A critique

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Springer US
Copyright © 2007 by Springer Science+Business Media, LLC
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
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