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Mises, Bastiat, public opinion, and public choice

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  • Caplan, Bryan
  • Stringham, Edward

Abstract

The political economy of Ludwig von Mises and Frederic Bastiat has been largely ignored even by their admirers. We argue that Mises' and Bastiat's views in this area were both original and insightful. While traditional public choice generally maintains that democracy fails because voters' views are rational but ignored, the Mises-Bastiat view is that democracy fails because voters' views are irrational but heeded. Mises and Bastiat anticipate many of the most effective criticisms of tra4itional public choice to emerge during the last decade and point to many avenues for future research.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26084.

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Date of creation: 2005
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Publication status: Published in Review of Political Economy 1.17(2005): pp. 79-105
Handle: RePEc:pra:mprapa:26084

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Related research

Keywords: Templeton Culture of Enterprise Award; economic literacy; rational ignorance; rational irrationality; biased beliefs;

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  1. John Charles Bradbury & W. Mark Crain, 2002. "Bicameral Legislatures and Fiscal Policy," Southern Economic Journal, Southern Economic Association, vol. 68(3), pages 646-659, January.
  2. Sheffrin,Steven M., 1996. "Rational Expectations," Cambridge Books, Cambridge University Press, number 9780521474009, October.
  3. Brennan,Geoffrey & Buchanan,James M., 2006. "The Power to Tax," Cambridge Books, Cambridge University Press, number 9780521027922, October.
  4. Robert J. Blendon, 1997. "Bridging the Gap between the Public's and Economists' Views of the Economy," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 105-118, Summer.
  5. Paul H. Rubin, 2003. "Folk Economics," Southern Economic Journal, Southern Economic Association, vol. 70(1), pages 157-171, July.
  6. Kenneth F. Scheve & Matthew J. Slaughter, 2001. "Globalization and the Perceptions of American Workers," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 109.
  7. Bryan Caplan, 2002. "Systematically Biased Beliefs About Economics: Robust Evidence of Judgemental Anomalies from the Survey of Americans and Economists on the Economy," Economic Journal, Royal Economic Society, vol. 112(479), pages 433-458, April.
  8. Caplan, Bryan, 2001. "What Makes People Think Like Economists? Evidence on Economic Cognition from the "Survey of Americans and Economists on the Economy."," Journal of Law and Economics, University of Chicago Press, vol. 44(2), pages 395-426, October.
  9. Becker, Gary S, 1983. "A Theory of Competition among Pressure Groups for Political Influence," The Quarterly Journal of Economics, MIT Press, vol. 98(3), pages 371-400, August.
  10. Wittman, Donald, 1989. "Why Democracies Produce Efficient Results," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1395-1424, December.
  11. Bryan Caplan, 2000. "Rational Irrationality: A Framework for the Neoclassical-Behavioral Debate," Eastern Economic Journal, Eastern Economic Association, vol. 26(2), pages 191-211, Spring.
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Cited by:
  1. Anthony Evans, 2014. "A subjectivist’s solution to the limits of public choice," The Review of Austrian Economics, Springer, vol. 27(1), pages 23-44, March.
  2. Williamson, Claudia R., 2012. "Dignity and development," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(6), pages 763-771.
  3. François Facchini & Mickaël Melki, 2011. "Optimal Government Size and Economic Growth in France (1871-2008): An explanation by the State and Market Failures," Documents de travail du Centre d'Economie de la Sorbonne 11077, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  4. Edward Stringham & Caleb Miles, 2012. "Repelling states: Evidence from upland Southeast Asia," The Review of Austrian Economics, Springer, vol. 25(1), pages 17-33, March.
  5. repec:hal:journl:halshs-00654363 is not listed on IDEAS

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