Constitutional Political Economy

The Corruption of Transition

A political economic framework is used to describe an economy following transition to private ownership. The transition, characterized by massive privatization, is accompanied by a constitutional change, which is influenced by potential shareholders who may be described as the local entrepreneur, the corrupt entrepreneur, or the foreign entrepreneur. The constitutional changes influence the pri...

Property, State, and Entangled Political Economy

Most theories of political economy operate in terms of what might be called separated political economy, as illustrated by the formulation: political economy = polity + economy. Within this formulation it is reasonable to speak of the state intervening into the market economy. In contrast to separated political economy, this paper explores some aspects of what might be called an entangled polit...

The Constitutional Choice of Bicameralism

Studies of political economy in recent years have placed emphasis on the operating characteristics of political and economic institutions. The premise of this work is that constitutional features of the political economy provide a structure of institutional incentives inducing equilibrium behavior and practices by optimizing agents. At both the theoretical and empirical levels there are compari...

From Economic Inequality to Economic Freedom: Constitutional Political Economy in the New Gilded Age

Political Economy : Success or Failure ?

H10, B25, A11 KEy woRdS: JEL Classification: political economy, public choice, constitutional economics, institutions, 1 University of Warwick, UK; CREMA – Center for Research in Economics, Management and the Arts, Switzerland 2 University of Zurich, Switzerland Corespondence concerning to this article should be addressed to: [email protected] Bruno S. Frey1 and Lasse Steiner2

Institutional Sources of Political Dysfunction: Underappreciated Maladies of the Political Commons

In this paper I offer a novel interpretation of the challenges posed by ‘constitutional drift’—the tendency for de facto political procedures to alter when these procedures no longer are incentive-compatible for those wielding political power—for sound governance institutions, with special reference to the American republic. While it is widely recognized that various watershed political events,...