According to many democracy theorists, there is an unavoidable trade-off between constitutionalism and the need for political action. This paper criticizes that belief. Rather, it argues that a division of power, while sometimes entailing high political transaction costs, can nevertheless be beneficial and that it is not necessarily the case that a division of power does entail high transaction costs. The analysis expands the framework of Buchanan and Tullock (1962). Constitutionalism is thus defended against one of its main perceived deficiencies: its bringing about gridlock. This does not always happen, and when it does, it is often a good thing.
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Paper provided by The Ratio Institute in its series Ratio Working Papers with number
3.
Length: 26 pages Date of creation: 11 Sep 2002 Date of revision: Publication status: Published in Public Choice, 2003, pages 99-124. Handle: RePEc:hhs:ratioi:0003
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Find related papers by JEL classification: D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
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