Political Entrepreneurship and the Democratic Allocation of Economic Resources

Political Entrepreneurship and the Democratic Allocation of Economic Resources Political entrepreneurship occurs when an individual acts on a political profit opportunity. These profit opportunities can be divided into two categories: productive, and predatory. Productive opportunities enable entrepreneurs to profit from enhancing the efficiency of government, while predatory opportunities enable entrepreneurs to profit from forcibly transferring resources from some to others. This analysis shows that political institutions tend to favor predatory over productive political entrepreneurship, and shows that what is sometimes referred to as political exchange does not have the same efficiency characteristics as voluntary exchange in private markets. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Political Entrepreneurship and the Democratic Allocation of Economic Resources

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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:1015758419984
Publisher site
See Article on Publisher Site

Abstract

Political entrepreneurship occurs when an individual acts on a political profit opportunity. These profit opportunities can be divided into two categories: productive, and predatory. Productive opportunities enable entrepreneurs to profit from enhancing the efficiency of government, while predatory opportunities enable entrepreneurs to profit from forcibly transferring resources from some to others. This analysis shows that political institutions tend to favor predatory over productive political entrepreneurship, and shows that what is sometimes referred to as political exchange does not have the same efficiency characteristics as voluntary exchange in private markets.

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 18, 2004

References

  • The Influence of Ideology on Congressional Voting
    Bender, B.

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