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Politics as Exchange?

Author

Listed:
  • Geoffrey Brennan

    (Australian National University)

  • Hartmut Kliemt

    (University of Duisburg-Essen)

Abstract

Buchanan, Sugden and Vanberg claim that constitutional political economics should conceptualize ‘politics as exchange’. Since this theoretical conceptualization is not true in fact the underlying universalist perspective of ‘normative individualism’ needs to be imposed by the theorist contrary to the value-neutrality requirement of economics as a science. ‘Ethics in terms of hypothetical imperatives’ can avoid this imposition by addressing only those who as a matter of fact might happen to share certain particular ends. Only such a ‘to-whom-it-concerns’, non-inclusive relativity of constitutional/institutional advice is compatible with the ideals of ‘politics without romance’ and ‘value-neutrality’ in science-based constitutional mechanism design.

Suggested Citation

  • Geoffrey Brennan & Hartmut Kliemt, 2023. "Politics as Exchange?," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 40(1), pages 39-59, December.
    • Handle: RePEc:spr:homoec:v:40:y:2023:i:1:d:10.1007_s41412-022-00128-5
    DOI: 10.1007/s41412-022-00128-5
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    More about this item

    Keywords

    Politics without romance; Politics as exchange; Public choice; Contractarianism; Buchanan; Sugden; Vanberg; Critical realism; Technology;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching
    • B - Schools of Economic Thought and Methodology
    • D - Microeconomics

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