Politics as Exchange by Randall G Holcombe

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Summary

Politics as Exchange describes a political marketplace in which an elite few negotiate to produce public policy. Most people are excluded from the political marketplace, which separates the political elite from the masses. The volume discusses how political institutions can be designed to prevent elites from abusing their power.

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Politics as Exchange by Randall G Holcombe

Political institutions have been depicted by academics as a marketplace where citizens transact with each other to accomplish collective ends difficult to accomplish otherwise. This depiction supports a romantic notion of democracy in which democratic governments are accountable to their citizens, and act in their best interests. In Politics as Exchange, Randall Holcombe explains why this view of democracy is too optimistic. He argues that while there is a political marketplace in which public policy is made, access to the political marketplace is limited to an elite few. A small group of well-connected individuals-legislators, lobbyists, agency heads, and others-negotiate to produce public policies with which the masses must comply. Examining the political transactions that determine policy, Holcombe discusses how political institutions, citizen mobility, and competition can limit the ability of elites to abuse their power.
Randall G. Holcombe is DeVoe Moore Professor of Economics at Florida State University. He is past president of the Public Choice Society and the Society for the Development of Austrian Economics. His previous books include Political Capitalism: How Economic and Political Power Is Made and Maintained (2018) and Following Their Leaders: Political Preferences and Public Policy (2023).
SKU Unavailable
ISBN 13 9781009693936
ISBN 10 100969393X
Title Politics as Exchange
Author Randall G Holcombe
Series Cambridge Studies In Economics Choice And Society
Condition Unavailable
Binding Type Hardback
Publisher Cambridge University Press
Year published 2025-11-30
Number of pages 250
Cover note Book picture is for illustrative purposes only, actual binding, cover or edition may vary.