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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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    References listed on IDEAS

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    1. James Buchanan, 1995. "The metamorphosis of John Gray," Constitutional Political Economy, Springer, vol. 6(3), pages 293-295, October.
    2. Gilboa,Itzhak, 2009. "Theory of Decision under Uncertainty," Cambridge Books, Cambridge University Press, number 9780521517324, November.
    3. Kliemt, Hartmut, 1994. "The Calculus of Consent after Thirty Years," Public Choice, Springer, vol. 79(3-4), pages 341-353, June.
    4. Max Albert, 2022. "How to Escape from Model Platonism in Economics: Critical Assumptions, Robust Conclusions, and Approximate Explanations," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 39(1), pages 37-68, October.
    5. Kliemt, Hartmut, 2011. "Bukantianism—Buchanan's philosophical economics," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 275-279.
    6. Alan Hamlin & Zofia Stemplowska, 2012. "Theory, Ideal Theory and the Theory of Ideals," Political Studies Review, Political Studies Association, vol. 10(1), pages 48-62, January.
    Full references (including those not matched with items on IDEAS)

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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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