You are on page 1of 13

Ec 970

Public Choice
and Political Economy

James Buchanan
1986

"for his development of the


contractual and constitutional
bases for the theory of economic
and political decision-making"

George Stigler
1982

"for his seminal studies of


industrial structures, functioning
of markets and causes and
effects of public regulation"

James Buchanan

public choice theory


Virginia school
of political economy
private and public sector
as imperfect substitutes

rules of the game


politics vs. policy
constitutional economics

George Stigler

Chicago School

Mont Pelerin Society


the economics of information
theory of search unemployment

the economics of regulation

industrial organization
capture theory
regulatory capture

You might also like