Advanced Search
MyIDEAS: Login

The Limits of Market Efficiency

Contents:

Author Info

  • James M. Buchanan

    ()
    (George Mason University)

Abstract

The framework rules within which either market or political activity takes place must be classi?ed in the non-partitionability set under the Samuelson taxonomy. Therefore there is nothing comparable to the pro?t-loss dynamic of the market that will insure any continuing thrust toward more desirable rules. 'Public choice' has at least partially succeeded in getting economists to remove the romantic blinders toward politics and politicians as providers of non-partitionable goods. It is equally necessary to be hard-nosed in evaluating markets as providers of non-partitionable rules.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.rmm-journal.com/downloads/Article_Buchanan.pdf
Download Restriction: no

Bibliographic Info

Article provided by Frankfurt School Verlag, Frankfurt School of Finance & Management in its journal Rationality, Markets and Morals.

Volume (Year): 2 (2011)
Issue (Month): 38 (January)
Pages:

as in new window
Handle: RePEc:rmm:journl:v:2:y:2011:i:38

Contact details of provider:
Postal: Sonnemannstraße 9-11, 60314 Frankfurt am Main
Phone: 069 154008-0
Web page: http://www.frankfurt-school-verlag.de/
More information through EDIRC

Related research

Keywords: markets; politics; efficiency; Samuelson; non-partitionability; public choice;

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Diana Thomas & Michael Thomas, 2014. "Entrepreneurship: Catallactic and constitutional perspectives," The Review of Austrian Economics, Springer, vol. 27(1), pages 11-22, March.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:rmm:journl:v:2:y:2011:i:38. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Friederike Pförtner).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.