Suchergebnisse

Neoclassical Economics dealt with political analysis since the fifties. In this way, Public Choice presented policy-maker as homo-economicus & introduced the notion of political market. Moreover, James Buchanan & the Virginia School constructed Constitutional Political Economy. But, its economical character & the lack of empirical analysis of the Public Choice prevented the broad resurgence of political economy. We had to wait until the last two decades of the 20th Century to contemplate this resurgence, propelled by New Institutional Economics, which is based on the coasean notion of transaction costs & the northian notion of institutions. This theoretical framework takes on a multidisciplinary perspective & generates Transaction Cost Political Analysis, which turn into indispensable reference for positive political theory. Tables, Graphs, References. Adapted from the source document.