{"product_id":"economic-politics-the-costs-of-democracy-hardback-9780521462068","title":"Economic Politics; The Costs of Democracy (Hardback) 9780521462068","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eEconomic Politics\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eThe Costs of Democracy\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis book raises and addresses questions about the consequences of democratic institutions for economic performance.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eWilliam R. Keech (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521462068, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 24 February 1995\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e256 pages, 8 b\/w illus.\u003cbr\u003e23.7 x 15.7 x 2.2 cm, 0.521 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"I encourage faculty teaching macroeconomics at any level to incorporate Economic Politics: The Costs of Democracy into their course. And I encourage everyone with an interest in macroeconomic policy to read this book.\"    Dennis Coates, Public Choice\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThis book raises and addresses questions about the consequences of democratic institutions for economic performance. Do institutions of accountability inside and outside government through periodic elections produce efficient results, or do they lead to the kind of accumulation of special privileges and protections from market competition that reduces efficiency and growth? Professor Keech suggests that there are modest and bearable costs of democratic procedures, comparable to the agency costs incurred whenever a principal delegates authority to an agent. Democracy, however, does not systematically cause inferior macroeconomic policy detrimental to a population's long-term welfare. Rather, there is a logical circularity among voter preferences, institutions, and economic and political outcomes. This accessible synthesis and sharp perspective will be highly useful for professionals, graduate students, and upper-level undergraduates aiming to understand the relationship between politics and economics.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePart I. Introduction: 1. Macroeconomic politics and the costs of democracy\u003cbr\u003e 2. Macroeconomic theories and their political implications\u003cbr\u003e Part II. Models of Routine Politics: 3. Models of accountability and opportunism: the electoral cycle\u003cbr\u003e 4. Models of choice: partisanship\u003cbr\u003e Part III. The Sources and Authority of Macroeconomic Goals: 5. The authority of macroeconomic goals\u003cbr\u003e 6. Voters, elections, accountability, and choice\u003cbr\u003e Part IV. Institutions and Processes: 7. Discretion and accountability in the fiscal policy process\u003cbr\u003e 8. Discretion and accountability in the monetary policy process\u003cbr\u003e Part V. Conclusion: 9. The costs of democracy\u003cbr\u003e References\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Political economy [\u003ca title=\"See our other books on Political economy\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Political%20economy%20%5BKCP%5D%22\"\u003eKCP\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46007559094552,"sku":"9780521462068","price":59.89,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521462068_0bb52c6a-1662-43e7-9798-b6da4c0e8808.gif?v=1691382448","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/economic-politics-the-costs-of-democracy-hardback-9780521462068","provider":"Freshly Printed Books","version":"1.0","type":"link"}