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Leviathan: Revenue-maximizer or glory-seeker?

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  • Manfredi Manna
  • Gabriella Slomp

Abstract

We argue that the Hobbesian assumption of glory-seeking behavior, especially when applied to holders of high office, is both more realistic and has greater predictive power than Brennan and Buchanan's hypothesis of revenue-maximization. Whereas traditional public finance theory sees the sovereign as a benign agent without an objective of his own and Brennan and Buchanan endow him with the objective of revenue maximization, Hobbes's political construct envisages a sovereign-principal who devises rules and incentives to induce his subjects-agents to contribute to his own preservation and glory. We examine the implications of this Copernican revolution in public finance theory by referring to Brennan and Buchanan's key claim that the Leviathan ought to be constrained by a fiscal constitution. We argue that the interplay of the pursuit glory and the concern for self-preservation implies that the government cannot be bound by rules set by citizens. Copyright George Mason University 1994

Suggested Citation

  • Manfredi Manna & Gabriella Slomp, 1994. "Leviathan: Revenue-maximizer or glory-seeker?," Constitutional Political Economy, Springer, vol. 5(2), pages 159-172, March.
    • Handle: RePEc:kap:copoec:v:5:y:1994:i:2:p:159-172
    DOI: 10.1007/BF02393145
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    1. Brennan,Geoffrey & Buchanan,James M., 2006. "The Power to Tax," Cambridge Books, Cambridge University Press, number 9780521027922, January.
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    Cited by:

    1. Irigoin, A, 2012. "Bounded Leviathan: or why North & Weingast are only right on the right half," MPRA Paper 39722, University Library of Munich, Germany.

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    More about this item

    Keywords

    H11; B31;

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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