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"To Promote the General Welfare": Addressing Political Corruption in America

Author

Listed:
  • Bruce M. Owen

    (Stanford University)

Abstract

Systemic (but lawful) political corruption reduces well-being and equity in America. Madisonian democracy is no longer capable of containing such corruption. Proposals currently on the table to stem corruption are unlikely to be effective without undermining foundational rights. This essay describes a new approach - regulating the output of corrupted legislative and administrative processes, rather than the inputs. Providing for substantive ex post review of direct and delegated legislation would be far more protective of the "general welfare" of the People than other reforms, while no more or less difficult to implement.

Suggested Citation

  • Bruce M. Owen, "undated". ""To Promote the General Welfare": Addressing Political Corruption in America," Discussion Papers 15-027, Stanford Institute for Economic Policy Research.
    • Handle: RePEc:sip:dpaper:15-027
    as

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    File URL: http://www-siepr.stanford.edu/repec/sip/15-027.pdf
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    References listed on IDEAS

    as
    1. Joseph E. Stiglitz, 2015. "New Theoretical Perspectives on the Distribution of Income and Wealth among Individuals: Part I. The Wealth Residual," NBER Working Papers 21189, National Bureau of Economic Research, Inc.
    2. Jordi Blanes i Vidal & Mirko Draca & Christian Fons-Rosen, 2012. "Revolving Door Lobbyists," American Economic Review, American Economic Association, vol. 102(7), pages 3731-3748, December.
    3. Joseph E. Stiglitz, 2015. "New Theoretical Perspectives on the Distribution of Income and Wealth among Individuals: Part IV: Land and Credit," NBER Working Papers 21192, National Bureau of Economic Research, Inc.
    4. John Joseph Wallis, 2006. "The Concept of Systematic Corruption in American History," NBER Chapters, in: Corruption and Reform: Lessons from America's Economic History, pages 23-62, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • H1 - Public Economics - - Structure and Scope of Government
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • K1 - Law and Economics - - Basic Areas of Law
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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