Politics as a Peculiar Business: Parasitical Political Calculation

Politics as a Peculiar Business: Public Choice in a System of Entangled Political Economy, Forthcoming

GMU Working Paper in Economics No. 14-26

45 Pages Posted: 5 Sep 2014

See all articles by Richard E. Wagner

Richard E. Wagner

George Mason University - Department of Economics; George Mason University - Mercatus Center

Date Written: September 3, 2014

Abstract

This is a preliminary draft of the sixth of what will be eight chapters in a book titled Politics as a Peculiar Business: Public Choice in a System of Entangled Political Economy. This chapter explains that the generally orderly quality of politically sponsored activities within a society necessarily bears a parasitical relationship to market activity. Within societies of even modest complexity, reasonable orderliness requires alienable ownership and the resulting generation of market prices which renders economic calculation possible. Politically sponsored enterprises likewise require market prices even if their operating logic requires them to modify and degrade some of those prices. The quality of the resulting parasitical interaction among differently constituted entities is the prime topic explored here.

Keywords: economic calculation; parasitical political pricing; capital structure of production; capital accounts of cooperative enterprises

JEL Classification: D23, D73, H44, P48

Suggested Citation

Wagner, Richard E., Politics as a Peculiar Business: Parasitical Political Calculation (September 3, 2014). Politics as a Peculiar Business: Public Choice in a System of Entangled Political Economy, Forthcoming, GMU Working Paper in Economics No. 14-26, Available at SSRN: https://ssrn.com/abstract=2491122

Richard E. Wagner (Contact Author)

George Mason University - Department of Economics ( email )

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HOME PAGE: http://mason.gmu.edu/~rwagner/

George Mason University - Mercatus Center ( email )

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Arlington, VA 22201
United States

HOME PAGE: http://ppe.mercatus.org/scholars/richard-wagner

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