Economic Theory of Politics

Discipline: Economics

Economic theory of politics is an analytical model which assumes that politicians are vote maximizers and voters are utility maximizers.

Each voter is assumed to support the political party that will provide him with the highest degree of utility when it is elected.

Politicians, motivated by self-interest and the desire for public office, formulate policies which will attract the maximum number of votes.

Also see: impossibility theorem, paradox of voting

Source:
S de Brunhoff, The State, Capital, and Economic Policy (London, 1978)

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