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Maximizing the Wealth of a Nation: A Paradigm for Political Economy

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  • Kairys Jr., Joseph P.

    ()
    (Department of Economics, School of Business, Economics and Law, Göteborg University)

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    Abstract

    Politics and economics are inextricably linked. Government establishes and enforces the rules of the game for the economy, thereby determining not only how much wealth is created, but also how wealth is distributed across society. The primary question of political economy is easily stated: for whose benefit does government set the rules? This paper examines the fundamental conflict of interest between maximizing the wealth of a nation, versus maximizing the wealth of particular interests. The same distortions and deceptions have been used for centuries to obscure how government sets the rules of the game to benefit particular interests.

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    File URL: http://hdl.handle.net/2077/24032
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    Bibliographic Info

    Paper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 477.

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    Length: 45 pages
    Date of creation: 06 Dec 2010
    Date of revision:
    Handle: RePEc:hhs:gunwpe:0477

    Contact details of provider:
    Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
    Phone: 031-773 10 00
    Web page: http://www.handels.gu.se/econ/
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    Keywords: political economy; rules of the game;

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    1. Ricardo, David, 1821. "On the Principles of Political Economy and Taxation," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 3, number ricardo1821.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, volume 1, number 8973.
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