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The Political Economy of Historical Events

In: Public Choice Economics and the Salem Witchcraft Hysteria

Author

Listed:
  • Franklin G. Mixon

    (Columbus State University)

Abstract

The opening chapter of the book recounts some of the earlier studies on the political economy of historical events. It is hoped that doing so will illuminate “the economic way of thinking” in approaching these widely varying topics for readers outside of the field of economics. Historical events included in this chapter range from the colonization of Australia during the 1700s and 1800s by British convicts to the rout of George Custer’s forces at the Little Bighorn. The economics principles covered in this chapter include the divergence between public economic interests and private economic interests, Alchian and Allen’s relative price effect, price controls (ceilings), the modern theory of bureaucracy and the public choice economics principle of vote maximization.

Suggested Citation

  • Franklin G. Mixon, 2015. "The Political Economy of Historical Events," Palgrave Macmillan Books, in: Public Choice Economics and the Salem Witchcraft Hysteria, chapter 1, pages 1-20, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-50635-1_1
    DOI: 10.1057/9781137506351_1
    as

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