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Prudence and Constitutional Rights

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  • Edward F. McClennen

Abstract

ABSTRACT. In The Calculus of Consent, Buchanan and Tullock argue for institutional safeguards to ensure maximal benefit for all members of a community against the potential tyranny of the majority. I extend this idea by introducing prudential concerns and argue that they ought to be factored into the decision making that constructs such safeguards. Specifically, I see the safeguarding of prudential concerns for all members of society as a matter that should be secured from the random fate of the political process by constitutional provisions.

Suggested Citation

  • Edward F. McClennen, 2004. "Prudence and Constitutional Rights," American Journal of Economics and Sociology, Wiley Blackwell, vol. 63(1), pages 213-256, January.
    • Handle: RePEc:bla:ajecsc:v:63:y:2004:i:1:p:213-256
    DOI: 10.1111/j.1536-7150.2004.00284.x
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    References listed on IDEAS

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    1. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    2. McClennen,Edward F., 1990. "Rationality and Dynamic Choice," Cambridge Books, Cambridge University Press, number 9780521360470.
    3. Daniel Ellsberg, 1961. "Risk, Ambiguity, and the Savage Axioms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 75(4), pages 643-669.
    4. Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-950, October.
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