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Buchanan's Constitutional Economics

Also called Politics without romance

Rules of the game matter more than particular plays.

Buchanan and Tullock's The Calculus of Consent, 1962, and the body of work recognised by Buchanan's 1986 Nobel Prize: arguing about tax rates within a constitution differs in kind from arguing about what the constitution permits. Reformers usually contest plays when the rules are what determine outcomes.

In practice

  • An argument about the tax rate is a play; an argument about who may set the tax rate is a rule, and the second decides the first for a generation.
  • A club argues for years about individual membership decisions and never about who gets to decide them.
Subject
Law & Politics
Essay
Competing accounts of how power works

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