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BOOM AND BUST: THE POLITICAL ECONOMY OF ECONOMIC DISORDER

Richard E. Wagner

 

This is an essay on pages 238 - 272 of James Buchanan - The Theory of Public Choice

 
 

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.

 
 

Politics and Macroeconomic Management

 
 

Economic Conditions and Political Success

 
 

A Basis for Politically Induced Economic Disorder

 
 

The Fictive Character of Macroeconomic Policy

 
 

Money Creation, Inflation, and Price Distortion

 
 

Economic Disorder through Money Creation

 
 

The Boom-and-Bust Sequence

 
 

What About Exogenous Sources of Disorder?

 
 

Cycles and the Anticipation of Policy

 
 

Disorder and the Problem of Waste in Economic Life

 
 

A Concluding Summary

 

Return to Xenophon.