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A constitutional theory of public enterprise

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  • Larry Kiser

Abstract

This article rationalizes public enterprise by analyzing the constitutional choice between private and public ownership of production arrangements. Arguing that results depend on who does the choosing, the article compares choices by self-governing citizens with choices by self-directed governmental officials. The resulting institutional theory identifies four conditions that cause citizens to favor public over private ownership. None of the conditions refers to the standard concept of economic efficiency, which guides most economic comparisons of public and private enterprise. Copyright George Mason University 1994

Suggested Citation

  • Larry Kiser, 1994. "A constitutional theory of public enterprise," Constitutional Political Economy, Springer, vol. 5(3), pages 287-306, September.
    • Handle: RePEc:kap:copoec:v:5:y:1994:i:3:p:287-306
    DOI: 10.1007/BF02393262
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    References listed on IDEAS

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    1. Brennan,Geoffrey & Buchanan,James M., 2006. "The Power to Tax," Cambridge Books, Cambridge University Press, number 9780521027922, October.
    2. Wintrobe, Ronald, 1987. "The Market for Corporate Control and the Market for Political Control," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 3(2), pages 435-448, Fall.
    3. -, 1986. "Agenda = Agenda," Series Históricas 8749, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. TULKENS, Henry, 1976. "The publicness of public enterprise," LIDAM Reprints CORE 248, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    5. Pavel Pelikan, 1993. "Ownership of firms and efficiency: The competence argument," Constitutional Political Economy, Springer, vol. 4(3), pages 349-392, September.
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    More about this item

    Keywords

    L33;

    JEL classification:

    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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