Dennis C. Mueller

This book represents a considerable revision and expansion of Public Choice II (1989). Six new chapters have been added, and several chapters from the previous edition have been extensively revised. The discussion of empirical work in public choice has been greatly expanded. As in the previous editions, all of the major topics of public choice are covered. These include: why the state exists, voting rules, federalism, the theory of clubs, two-party and multiparty electoral systems, rent seeking, bureaucracy, interest groups, dictatorship, the size of government, voter participation, and political business cycles. Normative issues in public choice are also examined including a normative analysis of the simple majority rule, Bergson–Samuelson social welfare functions, the Arrow and Sen impossibility theorems, Rawls's social contract theory and the constitutional political economy of Buchanan and Tullock.

Public Choice III

First Published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.

Growth, Diversification and Mergers

The Corporation

This book reviews the theory of the firm and the large modern corporation. Examining the process of entrepreneurial capitalism in which firms come into existence, then managerial capitalism and the changing motives of management in corporations - The Corporation is a thorough and thoughtful account. Of interest to students and academics in the area, this book will also prove to be an intriguing read for professionals.

Uwe Cantner

Joseph Schumpeter oscillated in his view about the type of economic system that was most conducive to growth. In his 1911 treatise, Schumpeter argued that a more decentralized and turbulent industry structure where the pro cess of creative destruction was triggered by vigorous entrepreneurial ac tivity was the engine of economic growth. But by 1942 Schumpeter had modified his theory, arguing instead that a more centralized and stable industry structure was more conducive to growth. According to Schum peter (1942, p. 132), under the managed economy there was little room for entrepreneurship because, "Innovation itself is being reduced to routine. Technological progress is increasingly becoming the business of teams of trained specialists who turn out what is required to make it work in pre dictable ways" (p. 132). Schumpeter (1942) reversed his earlier view by arguing that the integration of knowledge creation and appropriation be stowed an inherent innovative advantage upon giant corporations, "Since capitalist enterprise, by its very achievements, tends to automize progress, we conclude that it tends to make itself superfluous - to break to pieces under the pressure of its own success.

Proceedings of the International Joseph A. Schumpeter Society Conference, Vienna 1998 “Capitalism and Socialism in the 21st Century”

Capitalism and Democracy in the 21st Century

The rise of religious fundamentalism in different parts of the world in recent years and its association with terrorism has led to renewed interest in the nature of religion and its compatibility with Western institutions. Much of the focus of this new interest has contrasted religion and science as systems of knowledge. This book also emphasizes the difference between religion and science as means for understanding causal relationships, but it focuses much more heavily on the challenge religious extremism poses for liberal democratic institutions. The treatment contains a discussion of human psychology, describes the salient characteristics of all religions, and contrasts religion and science as systems of thought. Historical sketches are used to establish a link between modernity and the use of the human capacity for reasoning to advance human welfare. The book describes the conditions under which democratic institutions can advance human welfare, and the nature of constitutional rights as protectors of individual freedoms. Extremist religions are shown to pose a threat to liberal democracy, a threat that has implications for immigration and education policies and the definition of citizenship.

Reason, Religion, and Democracy

This volume systematically examines how the basic constitutional structure of governments affects what they can accomplish. At a time when Americans are more and more disillusioned about government's fundamental ability to reach solutions for domestic problems, and when countries in the former Soviet block and around the world are rewriting their constitutions, the relationship between government and constitution is especially important. Political economist Dennis Mueller illuminates the links between the structure of democratic government and its outcomes by drawing comparisons between the American system and other systems around the world. Working from the "public choice" perspective in political science, the book analyzes electoral rules, voting rules, federalism, citizenship, and separation of powers, making it a valuable resource for anyone curious about the world's political environment.

Constitutional Democracy

Professor of Economics Dennis C Mueller

This five-part volume surveys the main ideas and contributions to the field of public choice.

A Handbook

Perspectives on Public Choice

The financial crisis that began in 2008 and its lingering aftermath have caused many intellectuals and politicians to question the virtues of capitalist systems. The 19 original essays in this handbook, written by leading scholars from Asia, North America, and Europe, analyze both the strengths and weaknesses of capitalist systems. The volume opens with essays on the historical and legal origins of capitalism. These are followed by chapters describing the nature, institutions, and advantages of capitalism: entrepreneurship, innovation, property rights, contracts, capital markets, and the modern corporation. The next set of chapters discusses the problems that can arise in capitalist systems including monopoly, principal agent problems, financial bubbles, excessive managerial compensation, and empire building through wealth-destroying mergers. Two subsequent essays examine in detail the properties of the "Asian model" of capitalism as exemplified by Japan and South Korea, and capitalist systems where ownership and control are largely separated as in the United States and United Kingdom. The handbook concludes with an essay on capitalism in the 21st century by Nobel Prize winner Edmund Phelps.

Dennis C. Mueller

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