Developed by Gordon Tullock and James M. Buchanan, for ten points, what is this "politics without romance" economic theory that applies self-interested motivation to political decisions?
This theory identifies pork-barrel politics as a form of rent seeking, and logrolling as a source of inefficiency. A reaction to Keynesian economics, this form of non-market decision-making divides politics into "ordinary" and "constitutional" as set forth in The Calculus of Consent. Developed by Gordon Tullock and James M. Buchanan, for ten points, what is this "politics without romance" economic theory that applies self-interested motivation to political decisions?
This theory identifies pork-barrel politics as a form of rent seeking, and logrolling as a source of inefficiency.
Public choice theory