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Freiburger Diskussionspapiere zur Ordnungsökonomik, Universität Freiburg >

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dc.contributor.authorVanberg, Viktor J.en_US
dc.description.abstractThe paper approaches the "market versus state" issue from the perspective of constitutional political economy, a research program that has been advanced as a principal alternative to traditional welfare economics and its perspective on the relation between market and state. Constitutional political economy looks at market and state as different kinds of social arenas in which people may realize mutual gains from voluntary exchange and cooperation. The working properties of these arenas depend on their respective constitutions, i.e. the rules of the game that define the constraints under which individuals are allowed, in either arena, to pursue their interests. It is argued that "improving" markets means to adopt and to maintain an economic constitution that enhances consumer sovereignty, and that "improvement" in the political arena means to adopt and to maintain constitutional rules that enhance citizen sovereignty.en_US
dc.relation.ispartofseriesFreiburg discussion papers on constitutional economics 04/10en_US
dc.subject.keywordEconomics of rulesen_US
dc.subject.keywordwelfare economicsen_US
dc.subject.keywordconstitution of marketsen_US
dc.subject.keywordconstitution of politicsen_US
dc.subject.stwStaatliche Einflussnahmeen_US
dc.titleMarket and State: The Perspective of Constitutional Political Economyen_US
dc.typeWorking Paperen_US
Appears in Collections:Freiburger Diskussionspapiere zur Ordnungsökonomik, Universität Freiburg

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