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A tonic perspective on the last two of the objections vindicatory raised arises when the issue is examined from the perspective of common choice.
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When did public choice first come into existence?
Depending upon which person one selects as making the pioneering contribution to public choice, it came into existence either in the late 18th century as an offshoot of mathematics, or in the late 1940s as an offshoot of economics.
Which is the best description of Public Choice?
For the academic journal, see Public Choice (journal). Public choice, or public choice theory, is "the use of economic tools to deal with traditional problems of political science ". Its content includes the study of political behavior.
How is the government modeled in public choice theory?
In contrast, public choice theory modeled government as made up of officials who, besides pursuing the public interest, might act to benefit themselves, for example in the budget-maximizing model of bureaucracy, possibly at the cost of efficiency.
How did Knut Wicksell contribute to public choice theory?
The final is the self-interested nature of all individuals within the political system. An early precursor of modern public choice theory was the work of Swedish economist Knut Wicksell (1896), which treated government as political exchange, a quid pro quo, in formulating a benefit principle linking taxes and expenditures.
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