Year: 2005
Type: article
Abstract: The political economy of Ludwig von Mises and Frederic Bastiat has been largely ignored even by their admirers. We argue that Mises' and Bastiat's views in this area were both original and insightful. While traditional public choice generally maintains that democracy fails because voters' views are rational but ignored, the Mises–Bastiat view is that democracy fails because voters' views are irrational but heeded. Mises and Bastiat anticipate many of the most effective criticisms of traditional public choice to emerge during the last decade and point to many avenues for future research.
Source: Review of Political Economy
Authors: Bryan Caplan, Edward Stringham
Institutions: George Mason University, San Jose State University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
Funder: Atlas Network
OpenAlex ID: W1506317117