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Constitutional economics is a research program in economics and constitutionalism that has been described as explaining the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents".
The Calculus of Consent: Logical Foundations of Constitutional Democracy is a book published by economists James M. Buchanan and Gordon Tullock in 1962. It is considered to be one of the classic works from the discipline of public choice in economics and political science. This work presents the basic principles of public choice theory.
A direct democracy, or pure democracy, is a type of democracy where the people govern directly, by voting on laws and policies. It requires wide participation of citizens in politics. [ 4 ] Athenian democracy , or classical democracy, refers to a direct democracy developed in ancient times in the Greek city-state of Athens.
Constitutional economics is a research program in economics and constitutionalism that has been described as extending beyond the definition of "the economic analysis of constitutional law" to explain the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political ...
After a period of sustained expansion throughout the 20th century, liberal democracy became the predominant political system in the world. A liberal democracy may take various constitutional forms: it may be a republic, such as Estonia, Ireland, Germany, and Greece; or a constitutional monarchy, such as the United Kingdom, Japan or Spain.
James McGill Buchanan Jr. (/ b juː ˈ k æ n ə n / bew-KAN-ən; October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory [1] originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962.
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
An Economic Interpretation of the Constitution of the United States is a 1913 book by American historian Charles A. Beard. [1] It interpreted the early history of the United States from the lens of class conflict , arguing that the Constitution of the United States was structured to financially benefit the Founding Fathers .