Besley

Besley seeks to place his contribution between the social welfare function tradition of public economics associated with traditional economics from Pigou through Samuelson up to Stiglitz, and the public choice tradition of public finance identified with Buchanan, Buchanan and Tullock, and Brennan and Buchanan.

Is there a unique LSE school of political economy? - The Austrian Economists 2006

I found this book by Besley much more challenging and satisfying than Daron Acemoglu and James Robinson's Economic Origins of Dictatorship and Democracy see review below.

Is there a unique LSE school of political economy? - The Austrian Economists 2006

There are problems with the standard public choice literature and Besley addresses a behavioral one though as he notes this problem depends on the purpose for which the behavioral assumptions are being deployed, but there are also issues of the epistemic environment of politics which are not adequately addressed in imperfect information models of political processes.

The Austrian Economists: 2006

Besley, instead, wants to focus on how political institutions can be set up to select political leaders that reflect the virtues and talents required to rule in the public interest.

Is there a unique LSE school of political economy? - The Austrian Economists 2006

There are problems with the standard public choice literature and Besley addresses a behavioral one though as he notes this problem depends on the purpose for which the behavioral assumptions are being deployed, but there are also issues of the epistemic environment of politics which are not adequately addressed in imperfect information models of political processes.

Is there a unique LSE school of political economy? - The Austrian Economists 2006

Another important point was made by Besley and Ravi Kanbur that the incentives for donor countries to put binding conditions on recipient countries are not that strong because the real incentive is to disburse the funds regardless because that is how one will be judged.

The Austrian Economists: 2006

I found this book by Besley much more challenging and satisfying than Daron Acemoglu and James Robinson's Economic Origins of Dictatorship and Democracy see review below.

The Austrian Economists: 2006

Besley, instead, wants to focus on how political institutions can be set up to select political leaders that reflect the virtues and talents required to rule in the public interest.

The Austrian Economists: 2006

Besley seeks to place his contribution between the social welfare function tradition of public economics associated with traditional economics from Pigou through Samuelson up to Stiglitz, and the public choice tradition of public finance identified with Buchanan, Buchanan and Tullock, and Brennan and Buchanan.

The Austrian Economists: 2006

Another important point was made by Besley and Ravi Kanbur that the incentives for donor countries to put binding conditions on recipient countries are not that strong because the real incentive is to disburse the funds regardless because that is how one will be judged.

Back to Bauer -- A Report from the LSE Conference on Freedom and Development - The Austrian Economists 2006