Levy (2002) argues that J. M. Buchanan's worst-case philosophy of constitutional political economy and J. W. Tukey's worst-case philosophy of mathematical statistics are analogous. Levy's analogy, however, is problematic. Institutions are only contingently robust. Worst-case political economy is simply best-case thinking in another guise.
The Review of Austrian Economics – Springer Journals
Published: Oct 27, 2004
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