Economists typically treat government as something outside the
business realm, a sort of `Lord of the Manor'. Richard Wagner
argues that this is the wrong approach and can ultimately be
destructive to capitalism and to society. Modern governments are a
peculiar form of business enterprise. They face the same problems
as regular businesses, such as ascertaining demand and organizing
production, and act within the system in a way that can lead to a
parasitical relationship with the market. Largely rooted in
political economy, this book develops new theoretical ideas and
formulations to explain why democracy is a difficult form of
government to maintain. The author explores how and why limited
governments can morph into a system of destructive politics, and
looks at ways to escape this process. This dynamic book will be
useful for public choice scholars, economists, political
scientists, and lawyers who are interested in political economy in
its various guises.
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