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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, Enero-Abr.
    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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