caa a22 4500 465808972 CHVBK 20180323112111.0 cr unu---uuuuu 170327e19901201xx s 000 0 eng 10.1007/BF02393035 doi (NATIONALLICENCE)springer-10.1007/BF02393035 Wiseman Jack Institute of Social and Economic Research, University of York, Y01 5DD, Heslington, York, UK aut Principles of political economy [Elektronische Daten] An outline proposal, illustrated by application to fiscal federalism [Jack Wiseman] As a guide to efficient social organization, neo-classical economics is deficient in two major ways. First, it uses simplifying assumptions about the decision-environment which destroy its possible relevance to an understanding of decision situations in the real world: notably in its inability to embrace the unknowability of the future and the subjectivity of human decisions. Second, it specifies the nature of policy-relevant choice in too restrictive a fashion to explain the major (constitutional and political) choice-situations inherent in any system of social organization. A more satisfactory intellectual construct can be derived from a political economy-public choice model. This follows broadly the contractarian-liberal model developed notably by Buchanan and Brennan, but envisages a much more thoroughgoing rejection of neo-classical (Paretian) concepts. Thenew political economy would identifyefficiency with the ability of the citizen to constrain government-as-leviathan in a context of multi-level choice. The opportunity-cost situation of citizens-as-choosers is specified by reference to their ongoing possibilities of usingvoice to change unsatisfactory institutional constraints orexit to escape their consequences. The model is used to appraise the constitutional characteristics of fiscal federalism. George Mason University, 1990 Constitutional Political Economy Kluwer Academic Publishers 1/1(1990-12-01), 101-124 1043-4062 1:1<101 1990 1 10602 https://doi.org/10.1007/BF02393035 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF02393035 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Wiseman Jack Institute of Social and Economic Research, University of York, Y01 5DD, Heslington, York, UK aut NATIONALLICENCE 773 0- Constitutional Political Economy Kluwer Academic Publishers 1/1(1990-12-01), 101-124 1043-4062 1:1<101 1990 1 10602 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer