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Economic Theories of Politics and Public Finance

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  • Toye, J. F. J.

Abstract

Over the last twenty years a succession of theories of politics has appeared of which the hallmark is an attempt to adapt utilitarian marginalism to the purpose of political explanation. Theories in this intellectual style may be designated ‘economic’ theories of politics since utilitarian marginalism was first developed in the context of economic theorizing; its invention was indeed the birth of a notion of ‘economies’ as distinct from the ‘political economy’of Smith, Ricardo, Marx and J. S. Mill. Anthony Downs pioneered the economic approach with his bravura economic theory of democracy in 1957, which remains probably the best-known example of it. Many of the fundamental objections to economic theories of politics were explored by C. B. Macpherson in 1961 in a brief but penetrating essay; but Macpherson's essay was not decisive in checking the popularity of such theories. Despite his criticism, they have continued to proliferate.

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  • Toye, J. F. J., 1976. "Economic Theories of Politics and Public Finance," British Journal of Political Science, Cambridge University Press, vol. 6(4), pages 433-447, October.
    • Handle: RePEc:cup:bjposi:v:6:y:1976:i:04:p:433-447_00
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    Cited by:

    1. Calzolari, Giorgio, 2012. "Econometric notes," MPRA Paper 36765, University Library of Munich, Germany.
    2. George Boyne, 1987. "Median voters, political systems and public policies: An empirical test," Public Choice, Springer, vol. 53(3), pages 201-219, January.
    3. Mick Moore, 1990. "The Rational Choice Paradigm and the Allocation of Agricultural Development Resources," Development and Change, International Institute of Social Studies, vol. 21(2), pages 225-246, April.
    4. Krätschmer, Volker, 2006. "Strong consistency of least-squares estimation in linear regression models with vague concepts," Journal of Multivariate Analysis, Elsevier, vol. 97(3), pages 633-654, March.
    5. Feldstein, Martin, 1995. "The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the 1986 Tax Reform Act," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 551-572, June.
    6. Feldstein, Martin, 1995. "The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the 1986 Tax Reform Act," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 551-572, June.
    7. Buhong Zheng, 1997. "Statistical Inferences for Poverty Measures with Relative Poverty Rates," LIS Working papers 167, LIS Cross-National Data Center in Luxembourg.

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