Democracy, the Market, and the Firm How the Interplay between Trading and Voting Fosters Political Stability and Economic Efficiency

Democracy, the Market, and the Firm How the Interplay between Trading and Voting Fosters Political Stability and Economic Efficiency
- ISBN 13:
9780192894731
- ISBN 10:
0192894730
- Format: Hardcover
- Copyright: 09/29/2021
- Publisher: Oxford University Press
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Summary
to achieve political stability; on the other hand, among all market equilibria, those that are politically stable are more likely to be economically efficient. The second part of the book explores the feedback from collective choices to individual preferences.