Constitutionalism, Division of Power and Transaction Costs
AbstractAccording to many democracy theorists, there is an unavoidable trade-off between constitutionalism and the need for political action. This paper criticizes that belief. Rather, it argues that a division of power, while sometimes entailing high political transaction costs, can nevertheless be beneficial and that it is not necessarily the case that a division of power does entail high transaction costs. The analysis expands the framework of Buchanan and Tullock (1962). Constitutionalism is thus defended against one of its main perceived deficiencies: its bringing about gridlock. This does not always happen, and when it does, it is often a good thing. Copyright 2003 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Public Choice.
Volume (Year): 117 (2003)
Issue (Month): 1-2 (October)
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Web page: http://www.springerlink.com/link.asp?id=100332
Other versions of this item:
- Berggren, Niclas & Karlson, Nils, 2002. "Constitutionalism, Division of Power and Transaction Costs," Ratio Working Papers 3, The Ratio Institute.
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
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