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This is an essay on pages 238 - 272 of James Buchanan - The
Theory of Public Choice
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Reviewer comment
One of the more important essays in this very significant book. The amazing
thing about this essay and about the entire book is that it has to be written.
And that this theory of 'public choice' itself not only is noted as 'new' but
also needs to be examined with the use of all the usual tools of the academic
economist. A student of history will have observed all the evidence of the self
serving nature of politicians - that is rulers - throughout history.
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Politics and Macroeconomic Management
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Economic Conditions and Political Success
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A Basis for Politically Induced Economic Disorder
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The Fictive Character of Macroeconomic Policy
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Money Creation, Inflation, and Price Distortion
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Economic Disorder through Money Creation
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The Boom-and-Bust Sequence
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What About Exogenous Sources of Disorder?
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Cycles and the Anticipation of Policy
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Disorder and the Problem of Waste in Economic Life
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A Concluding Summary
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