The Constitution of Markets Essays in Political Economy 1st Edition by Viktor Vanberg 0203276655 9780415154710

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Product details:

ISBN 10: 0203276655 

ISBN 13: 9780415154710

Author: Viktor J Vanberg

What is the nature and role of competition in markets and politics?This book examines the institutional dimension of markets and the rules and institutions that condition the operation of market economies. Particular attention is paid to the the role of the state, specifically the role of governments in shaping and maintaining the economic constitu

Table of contents:

1. Constitutionally Constrained and Safeguarded Competition in Markets and Politics
Introduction
Competition and markets
Constitutionally constrained competition
Constitutionally safeguarded competition
Constitutional choice and political process
Competition between governments
A European constitution: between centralist and competitive federalism

2. Markets and Regulation: The Contrast Between Free-Market Liberalism and Constitutional Liberalism
Introduction
The “unhampered market” and the argument against regulation
“Regulation by rules” and the market as a constitutional order
Regulations and freedom of contract
Constitutional liberalism: generalizing the concept of voluntary contract from the market level to the constitutional level

3. The Freiburg School of Law and Economics: Predecessor of Constitutional Economics
Introduction
Economic order and constitutional choice
Ordo-liberalism versus laissez-faire liberalism
Competitive economic constitution and private power
In search of a political constitution

4. Hayek’s Legacy and the Future of Liberal Thought: Rational Liberalism Versus Evolutionary Agnosticism
Introduction
Hayek on the “positive tasks of liberal legislation”
Hayek’s evolutionism
On the empirical content of Hayek’s evolutionism
On the normative content of Hayek’s evolutionism
Markets: competition within constraints
Cultural evolution and designed inputs
Evolution within constraints: the role of Ordnungspolitik
Conclusion

5. Hayek’s Theory of Rules and the Modern State
Introduction
Constructivist rationalism and the role of rules
The rules of government and the order of politics
The constitutional defects of majoritarian democracy
Constitutional reform
Conclusion

6. John R. Commons: Institutional Evolution Through Purposeful Selection
Introduction
Scarcity, conflict, and social order
Competition and legal order
Purposeless and “purposeful” selection
Institutional change: conscious design and evolution
“Cultivated” evolution: the market process example
Conclusion: J.R. Commons as constitutional economist

7. The Market as a Creative Process: James M. Buchanan and Viktor J. Vanberg
Introduction
Subjectivism, the growth of knowledge, and indeterminedness
Kirzner’s theory of entrepreneurship
Conceptions and misconceptions of the market
Conclusion

8. A Constitutional Economics Perspective on International Trade
Introduction
Problems and rules in international trade
The problem of protectionism
Protective state and trade protection
Anti-protection commitments and their enforcement
Free trade and inter-governmental competition
Conclusion

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Tags: Viktor Vanberg, Constitution, Markets, Essays, Political