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Rationalizing Capitalist Democracy

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  • Amadae, S.M.

Abstract

In Rationalizing Capitalist Democracy , S. M. Amadae tells the remarkable story of how rational choice theory rose from obscurity to become the intellectual bulwark of capitalist democracy. Amadae roots Rationalizing Capitalist Democracy in the turbulent post-World War II era, showing how rational choice theory grew out of the RAND Corporation's efforts to develop a "science" of military and policy decisionmaking. But while the first generation of rational choice theorists—William Riker, Kenneth Arrow, and James Buchanan—were committed to constructing a "scientific" approach to social science research, they were also deeply committed to defending American democracy from its Marxist critics. Amadae reveals not only how the ideological battles of the Cold War shaped their ideas but also how those ideas may today be undermining the very notion of individual liberty they were created to defend.

Suggested Citation

  • Amadae, S.M., 2003. "Rationalizing Capitalist Democracy," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226016535, July.
  • Handle: RePEc:ucp:bkecon:9780226016535
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    Cited by:

    1. Roger E. Backhouse & Steven G. Medema, 2009. "Retrospectives: On the Definition of Economics," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 221-233, Winter.
    2. Béatrice CHERRIER & Jean-Baptiste FLEURY, 2014. "Whose values? The Rise, Fragmentation and Marginalization of Collective Choice in Postwar Economics, 1940-1981," Economics Working Paper from Condorcet Center for political Economy at CREM-CNRS 2014-05-ccr, Condorcet Center for political Economy.
    3. repec:kap:pubcho:v:172:y:2017:i:1:d:10.1007_s11127-017-0410-7 is not listed on IDEAS
    4. Floris Heukelom, 2012. "Three explanations for the Kahneman-Tversky Programme of the 1970s," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(5), pages 797-828, October.

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