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Maximizing the Wealth of a Nation: A Paradigm for Political Economy

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  • Kairys Jr., Joseph P.

    () (Department of Economics, School of Business, Economics and Law, Göteborg University)

Abstract

Politics and economics are inextricably linked. Government establishes and enforces the rules of the game for the economy, thereby determining not only how much wealth is created, but also how wealth is distributed across society. The primary question of political economy is easily stated: for whose benefit does government set the rules? This paper examines the fundamental conflict of interest between maximizing the wealth of a nation, versus maximizing the wealth of particular interests. The same distortions and deceptions have been used for centuries to obscure how government sets the rules of the game to benefit particular interests.

Suggested Citation

  • Kairys Jr., Joseph P., 2010. "Maximizing the Wealth of a Nation: A Paradigm for Political Economy," Working Papers in Economics 477, University of Gothenburg, Department of Economics.
    • Handle: RePEc:hhs:gunwpe:0477
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    File URL: http://hdl.handle.net/2077/24032
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    References listed on IDEAS

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    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 1065-1188, November.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters,in: This Time Is Different: Eight Centuries of Financial Folly Princeton University Press.
    3. Ricardo, David, 1821. "On the Principles of Political Economy and Taxation," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 3, number ricardo1821.
    4. F. W. Taussig, 1924. "Alfred Marshall," The Quarterly Journal of Economics, Oxford University Press, vol. 39(1), pages 1-14.
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    More about this item

    Keywords

    political economy; rules of the game;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • P00 - Economic Systems - - General - - - General

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