An Economic Theory of DemocracyThis book seeks to elucidate its subject-the governing of democratic state-by making intelligible the party politics of democracies. Downs treats this differently than do other students of politics. His explanations are systematically related to, and deducible from, precisely stated assumptions about the motivations that attend the decisions of voters and parties and the environment in which they act. He is consciously concerned with the economy in explanation, that is, with attempting to account for phenomena in terms of a very limited number of facts and postulates. He is concerned also with the central features of party politics in any democratic state, not with that in the United States or any other single country. |
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Page 171
... marginal equilibrium The relevant markets and rates of return are as follows : 1. Goverment action in any or all markets - marginal return from govern- ment action . 2. Consumer products market - marginal return from consumption . 3 ...
... marginal equilibrium The relevant markets and rates of return are as follows : 1. Goverment action in any or all markets - marginal return from govern- ment action . 2. Consumer products market - marginal return from consumption . 3 ...
Page 195
... marginal equilibrium in his deal- ings with government . Normally we can expect every man's marginal gain from government action to be unequal to his marginal loss ; hence he is usually getting a net marginal bonus from the government ...
... marginal equilibrium in his deal- ings with government . Normally we can expect every man's marginal gain from government action to be unequal to his marginal loss ; hence he is usually getting a net marginal bonus from the government ...
Page 198
... marginal equilibrium in their interaction with it . F. INCOME DISTRIBUTION AS A CAUSE OF BLOCKED MARGINAL EQUILIBRIUM Even if the technical problems involved in measuring individual benefits and conducting low - cost individual ...
... marginal equilibrium in their interaction with it . F. INCOME DISTRIBUTION AS A CAUSE OF BLOCKED MARGINAL EQUILIBRIUM Even if the technical problems involved in measuring individual benefits and conducting low - cost individual ...
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Common terms and phrases
abstain alternatives analysis assume assumption axiom basic benefits cause ceteris paribus citizen X coalition competition conclusion cost of voting decision-making democracy Derived from Chapter discount distribution of voters division of labor economic theory economists effect election period electorate equal ernment exist extremist fact favor free information free market gain goals government action government policy government's groups hence ideologies incumbents indifferent individual influence irrational issue Kenneth Arrow marginal cost marginal equilibrium maximize means ment motives multiparty system oligopoly opposition parties outcome Paretian optimum party differential party's pay-off political information political parties position possible preferences problem Proposition rational citizen rational voter real world reason reëlected return from voting scale selection principles social society strategy tion two-party system uncertainty utility functions utility income V. O. Key views vote-selling voting decision welfare Welfare Economics well-informed zero