Constitutional Economics and Public Choice

Carolina Leister

Abstract


From the Arrow's General Impossibility Theorem indicating the instability of the majoritarian rules, the theoreticians of Constitutional Economics/Public Choice extend the consequences of this theorem pointing as the decisions politics under majority leading the public sector to become enlarged beyond the constitutional limits fixed for it. The solutions proposed for this expansion must be placed in the proper Constitution, limiting and defining the permissible alternatives to the decisions taken under majority.


Keywords


Arrow's General Impossibility Theorem. Majoritarian rules. Public finance expansion. Public goods. Finance laws.



DOI: http://dx.doi.org/10.18836/2178-0587/ealr.v1n1p116-127

Economic Analysis of Law Review  -  ISSN 2178-0587

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